Question

5 basic finanical guidelines

Answer 1

5 basic financial guidelines are as follows:

1) While budgeting one should not ignore or miss any costs and should record each and every cost

2) One should have a standard rule and should never deviate from it

3) One should always keep a check on interest rates and taxes

4) One should monitor spendings very carefully and have a monitoring system for it. It’s better to prepare at least monthly reports on the performance.

5) Total net worth must be tracked. It should be analyzed properly and must be compared it with the market