How to become a master in your personal finances?
Finances are among the most important aspects that demand perfection in treatment. After all, they affect every single part of your materialistic life. Career, dreams in fact personal relations and your status in the society. Without any second option, you need to know how to manage your financial matters to have a better future.  You may not bear mistakes or regretful decisions. Yes, things happen but why not at least keep all the necessary precautions?

Separation of need and desires is necessary

 This is the first and primarily important. Everything on this planet has some rules and money matters cannot be exceptional. You have to keep a gap between your desires and basic needs. However, this does not mean that you should not enjoy life, but forget not to keep the limits.

Separating the materialistic desires from actual requirements is a skill. Take an example – People around you and in the family are continuously suggesting you buy a new car. What will you do then? Will you buy a new car?? 

The idol behaviour in this situation is – judge properly to realise if you really need to replace the old car or not. If it is working well and solving all the purposes, it was purchased for, why to spend money. The market always has something new to offer but that does not mean you will keep running after every new model.

Stay organised

Follow categorisation and assign things accordingly. Do not keep multiple bank accounts. They can be assigned for different purposes. 

  • Keep one main checking account to pay all the bills, expenses, obligations, instalments etc.
  • If you have a family then keep a joint checking account for the above and other family expenses
  • Keep one saving account for a safer tomorrow.  
  • Create an emergency fund and pour some pennies every month from your income
  • Make files or keep the records in excel sheets of everything related to your money matters
  • Never forget to do smart budgeting. Choose the method according to your own convenience. Either spend first and save later OR Save first and spend later.

Improve credit rating (If it is bad)

A huge part of the world is bearing the mess in financial life due to a poor credit score. They fail to qualify to get new credit cards, loan etc. Taking an apartment on rent becomes difficult, even employers hesitate to recruit poor credit scores. If you too have the issue of low credit rating then improve it as soon as possible. Such things get worse with time and obstruct your financial plans.

Work immediately on the preventive measures for instance – close the unused credit cards, store cards etc., pay the bills on time. There are also several specialised loan products that are available online to help you get a boost in credit rating. 

Borrow funds on customised rates, payback on time and by the end of the tenure, you can get a good boost in credit score. Very few lenders even provide such options for worst credit scorers. For instance - Very bad credit loans that come with no guarantor and no broker required if you approach to a Megaloanstore direct lender.

Do not live in multiple debts

Scattered finances always create chaos in financial, personal and professional life. It is never a good idea to stay surrounded by multiple obligations or financial commitments. Maybe you have the capacity to pay all of them without many efforts but still, that is not a wise thing. 

Why not get your debts consolidated to encapsulate all of them in one instalment and on a fixed rate. In this way, you can save a considerable amount from your income and can have extra money. Either you save it or spend it on IMPORTANT things. Also, this improves your creditworthiness and in future, you can easily qualify for any new financial product.

Stay cautious while taking investment decisions

Always consider the varied aspects of the investment products. Most of the people lose huge money due to their wrong decisions on this part. Lack of knowledge is also a big concern. Keep your market research deep, never invest in what others say and if necessary take the help of a financial adviser. Do everything that is required to keep the precautions for a safe investment.


The above ways do not demand many efforts or an unreasonable length of time to reach implementation. They can be brought in your practice from this very same moment while you are reading this sentence. The actual need is to not to lose focus and keep working with self-discipline.

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