Popular/Trending Finance


Money either enslaves us or frees us. It’s the commodity of all commodities that makes the world go round. Many of us make money, but most of us don’t know how it works. In this article, we are going to learn how personal finances should work. Hopefully, this article will enlighten you. Let’s enjoy the reading.


Emerging trends in finance management:

Globally, financial services were impacted due to economic uncertainty. In India, GST introduction was a major economic policy change that disrupted business activities. The entire GST filing process is now online because of the digital India drive of the government. The popular finance trends in 2021 are:


  1. Digital Finance
  2. Mass-Market Loans
  3. Real-time Credit Decisioning and Underwriting
  4. Online Security and Online Data Protection
  5. Incorporation of Artificial Intelligence and Machine Learning


5 Essential Things About Personal Finance:

Whether you’re in your thirties or twenties, if you have not begun to plan your personal finances, you will face a hard time managing all your financial affairs in the future. Here are the five things that all of us should be aware of when it comes to personal finance.


  1. Keep careful records
  2. How a credit card works
  3. Start saving early
  4. Time value of money
  5. Let your money work for you


  1. Keep careful records:

You might think record-keeping is for large enterprises and multinational companies. However, for anyone, the first step to effective financial management is to maintain a documented account of spending vs. earnings. Ensure you know how much money you are earning and what your debts and expenses are.


It’s important to know where your money is going. Suppose you are running a small business, divide your money into two different accounts: Pleasure and Business. Give yourself an allowance to do what you want to do monthly, and the rest must stay in your business account for other living expenses.


  1. How a credit card works:

Depending on how much you know about credit cards and how smart you are with them, they can either work for you or against you. Hence credit cards are known to be exciting commodities. One of the biggest problems with credit cards is acquiring access to them even before knowing enough about them. Our parents should have taught us how a credit card works, but sadly, many of us don’t know how a credit card works exactly. It is better to use the credit card per our monthly salary; otherwise, we will often be in financial struggles.


  1. Start saving early:

Starting to save money in your 20s, then you will have enough savings by the time you retire. One of the greatest advantages you get by saving money at an early age is knowing the financial discipline. Suppose you ensure that you invest some money of your salary upfront, then you might see exactly how much you are left with. If you begin saving the money early, you can ensure that you’ve enough financial support in the form of an emergency fund to counter any financial crisis or emergency.


  1. Time value of money:

One of the most fundamental concepts in the modern financial system is “time value,” which is not just a concept or topic for the finance gurus and bankers. Time value means $1 that you have today is worth more than $1 that you have in the future. Because any amount you have today could be invested to attain profit or interest; The more money you earn, the longer this amount could contribute to a certain investment. Understanding the time value of money helps you to maximize your income in the future. If you save $100 today at a 10% interest rate, you may have $259 in the coming 10 years.


  1. Let your money work for you:

We were all taught that it’s essential to learn valuable skills and have a good education to start a good career and enter the job force. Making your money work for you is more important than having a job. Have you seen two people with a similar career earning the same amount of money but with different wealth? You have to see it all the time! Hard work and skills are not enough to make us wealthy. We are also required to ensure our money works for us. 


You can go about making money work for you by following five rules: 


  • Eliminate your high-cost debt
  • Start off with a proper financial plan
  • Invest money inequities
  • Take risks only where needed
  • A systematic approach to investing the works



Financial management is one of the essential aspects of our life. We are caught in our business life so much and forget to know the significance of financial management. It’s not possible to understand how to pay your bills adequately without the knowledge of financial management. Having good financial management skills ensures that all your money is managed well. I hope this article helps you to know how to manage financial affairs in our lives.