Anonymous
Anonymous asked in Business & FinancePersonal Finance · 6 months ago

What factors do I have to consider when managing my own money/finances?

I can only really think of two things:

1) My spending

2) My saving

Please give me a list of things to consider, will give best answer!

4 Answers

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  • A.J.
    Lv 7
    6 months ago
    Favorite Answer

    Spending is in categories and sub-categories.

    Fixed monthly or weekly amounts required to be paid

    Variable monthly required (like utilities or groceries)

    Discretionary spend, in categories. Like going to a restaurant, gifts

    Income, gross and net of tax

    Savings and how to divide it - Saving for a vacation, to buy a home or car, retirement

    where to save/invest with risk

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  • 6 months ago

    Consider future expenses specifically instead of just saying SAVINGS - and highlight when they will happen

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  • 6 months ago

    You need to know interest rates, where to invest or deposit your savings money, when you need money to pay your bills, what types of banks or other financial services are best for you, whether you are spending prudently, what your tax situation is, how to optimize the date when your bills are due, and a few dozen other matters.

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  • Mark
    Lv 5
    6 months ago

    ROFL @ 'will give best answer'... that's how this works. Merely stating it like some kind of incentive, isn't enough to motivate people to want to respond.

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