What we need to be a Personal Finance
To be a good personal finance we need some foundations that we must have, such as Security, Stability, Growth and Protection and also Management. But what the means of all this foundations???……IF you want to know let me explain one by one. 1.Security…..The first step is security it means that we must prepared something for our future so it is like an skenario for our life in the future. Maybe we can do the things like saving oney in a bank such as an saving or deposit, or we can plan the future for our family like our husband, our wife and our child.
2. Stability….the second step is stabillity it means that we save money stabil in a bank and stability is avoiding or eliminating debt. besaide that stabiity is the concept investing for our self because we keep a little money for our future,
3. Growth….the third step is growth it means that from your stability in saving money once you are a secure and stable, and you also can think about building your wealth. Beside that we also can learn about how risk and reward are related adn we also learn how to tilt the odds in your favor and protect ourself againts risk.
4. Protection and Management….the last step is protection and management your wealth means that all asset you have you can insurance that will protect you from lawsuits designed to part you and your wealth.
The management aspect means that it will be start to concern yourself with taxation, ownership, distibution of income and possibly to charities or other non profit institutions.
And whatever your dreams for retirement it depend from your understading about how start the step you gona take from this personal finance.
