i think i need guidance on budgeting, i don’t know where my earnings go and i still do not have savings and investments. where can i get some financial advice? i really need to start on my financial planning.
I have online banking, and my bank categorizes most of my transactions and I can see them in a pie chart. This way I can see where most of my money is going, so check with your bank to see if they offer this kind of information.
Hope that helps,
Ronda
You should consult first your trusted relatives or a family member in relation to your finances. One other option is to ask help from a financial advisor their best financial advice.
you can read a book on personal budgeting – just go to the library and borrow a book. It’s a very basic account and arithmetic. Then just start collecting your expenses and keep track of it.
It’s not about learning – but discipline in keeping track of everything!
Firstly, gather every financial statement from different accounts like your savings account, trading account, etc. Then record all of your sources of income.
Create a list of monthly expenses. Then break expenses into two categories: fixed and variable. Total your monthly income and monthly expenses.
Finally, make adjustments to expenses. This should help you.