What Does Finance Deal With?

Finance is the study and management of money. It involves how individuals, businesses, and governments acquire, spend, save, and invest money over time—while carefully considering risks and returns.

Courtesy: Youtube Channel @morningmoneybuzz

Five Behaviours That Ruin Finances

1. Not Tracking Your Spending

Failing to monitor where your money goes often leads to overspending. Use budgeting apps or spreadsheets to stay aware of your financial habits.

2. Excessive Reliance on Credit Cards

Relying on credit cards for everyday purchases can quickly result in high-interest debt. Instead, opt for debit cards, UPI payments, or cash to avoid unnecessary borrowing.

3. Making Only Minimum Payments on Debts

Paying just the minimum prolongs your debt and increases total interest paid. Aim to pay more than the minimum or the full balance whenever possible to reduce debt faster.

4. Impulse Shopping

Unplanned purchases weaken your financial goals and waste money. Apply the 24-hour rule before making expensive purchases—wait a day to decide if it’s really necessary.

5. Ignoring Monthly Bills and Statements

Missing due dates can lead to late fees and high interest rates. Set up auto-pay or reminders to avoid penalties and keep your credit score healthy.

Additional Financial Tips for a Stronger Future

1. Know your income – Understand your total monthly income, including side earnings.

2. Create a budget – Allocate funds for essentials, savings, and lifestyle.

3. Track your spending – Monitor every rupee spent to avoid leaks.

4. Build an emergency fund – Save 3–6 months’ worth of expenses for emergencies.

5. Pay off debt – Prioritize high-interest debts to reduce financial stress.

6. Save and invest regularly – Use SIPs, PPFs, and other investment tools for wealth growth.

7. Get insurance – Health, life, and asset insurance protect you from financial setbacks.

8. Set financial goals – Define short- and long-term goals like buying a home or retiring early.

9. Review your budget monthly – Adjust your spending and saving habits based on new needs.

10. Learn continuously – Stay informed through books, courses, and financial news.

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