personal finance

luv007 · 12-09-2008, 02:17 AM

hello everybody

i am starting out working now after years of studying

Will anyone suggest me the best financial products that help in building up savings ??

darryl · 05-20-2009, 02:53 AM

Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. Components of personal finance might include checking and savings accounts, credit cards and consumer loans, investments in the stock market, retirement plans, social security benefits, insurance policies, and income tax management.

jacky · 05-23-2009, 03:54 PM

It won't be appropriate to advice this but still I would like to suggest, this is the best time to invest in stocks. Bear has taken all over except for few countries. Good planning and analysis will definitely yield good return.

johnmcgrath · 09-22-2009, 04:37 AM

I suggest you to invest in something that will help you when you are old or not working.

princess_jev · 11-19-2009, 07:08 AM

I suggest trading is better, enough to produce good profits for beginners though, let's join marketiva and get 5$ and 10000$ virtual money free as initial capital. learning each step to start trading for beginners is provided FREE

chenshuiyang · 01-05-2010, 04:59 AM

I suggest you setup a trading website and do some SEO...

HENARRY JAYA · 02-17-2010, 01:38 AM

Personal financial advice is hard because it has to be tailor made for you. To make it simple, do the following:

1. Build an emergency fund worth 3-9 months of your monthly income (based on age, income, etc).
2. Contribute to a 401(k), IRA or some sort of retirement vehicle on a regular basis (10% or more of income is a general rule of thumb if you start prior to your mid 30s).
3. Reduce expenses that are not "needs" if you have a hard time doing steps 1 and 2 (Ex. I have a $3.49 coffee everyday at work in the morning and a $1.07 iced tea each afternoon. If I stopped those expenses I could save nearly $5 each working day which would be ~100 dollars in a month).

If you are saving money regularly, feel free to spend some. For instance I use ~60% of my monthly post tax income and save the other 40%. When I am banking 40% each month I can afford to spend money on the "wants".