Important factors to play safe in personal finance

Important factors to play safe in personal finance

Ask any human from this materialistic world about the importance of money, and he can write a book on it. Yes, the importance of things like love, warmth, care, prayer etc. is also there, but money is vital to surviving.

Every person wants to be safe, stable and robust in his financial conditions. A bit disturbance there can create chaos, and new threats may emerge. By working on some aspects, you can construct a strong wall around your financial life and can stay safe behind it.

Improve money management

This factor needs your attention as all other decisions on money matters to depend on this only. From buying grocery to making investment decisions, if the available funds do not get a wise distribution, fiscal targets cannot be achieved.

From budget planning to keep an emergency fund, act calculative. Use money management apps like Mint to decide which part of expenses deserves what amount of money.

Be an expert of tracking expenses

It may sound easy, but it is not as in our daily life we make so many expenses that we don?t even realise.

  • Can you immediately tell how much you spend every month on that small water bottle that you buy every day at the metro station?
  • What about the packets of chips and snacks that satisfy your munch cravings now and then?
  • How many wallets and handbags you have purchased by now?
  • What is your monthly figure to spend in spas and salons?
  • How much you lose when you overbuy grocery and then regret later. It is already there in the clutter of the stuff in the kitchen.
  • How much is your daily commute need of a month? Can it be tailored a bit?

Many questions like above should pop-up in your mind while tracking the expenses. Attainment of perfection in this concern is not instant, but you will get that in a short time.

Do not keep the debts pending

This one is most important as an imbalance on this part can spoil all your planning. Always treat your financial commitments with complete responsibility.

When you keep the debts pending, the following threats arise ?

  • Credit score degrades due to a wrong impression on payment history.
  • Finance companies deny your applications for financial products like personal loan, credit card, insurance etc. Thanks to your poor score.
  • The weak financial situation may also keep you from new employment opportunity as employers check financial histories.
  • The pending payments become massive in size due to added interest and the late payment fee factors.
  • You face a negative impact on financial goals.

Never underestimate any expense or obligation, no matter how small it is. Usually, people miss prioritising when they have a loan with small instalments, for example, short-term loans. These are instantly attainable through online lenders, and funds reach the account in a short while. Usually, conveniently available things lose importance quickly.

Make smart and safe investment decisions

The future is uncertain and to add a tint of certainty in it; we invest to ensure a safer tomorrow. To be safe in the coming days, it is necessary to put your money in something that offers a better return.

There can be many options for this –

  • Shares
  • Property
  • Mutual funds
  • Bank fixed deposits
  • Debt mutual funds
  • Pension schemes
  • Cryptocurrency, etc.

Go to a financial adviser before a final decision. It is vital to know the tactics of the market as ignorance is the best friend of regretful investment decisions. It may make you spend some money on the services, but why not. After all, you cannot put the future on stake to spend a few pennies.

Keep working for extra income

It does not mean that you keep working beyond the physical abilities to get more money. It is about exploring new ways of earning. Few ideas to generate additional income are –

  • Freelance work
  • Part-time job
  • Selling off the old stuff in every two to three months
  • Running a side business
  • Giving your car or bike on rent etc.

The ways can be many; the only thing requires the creativity to think new and unique.


The above factors are unavoidable if you want to be at the safer side in personal finances. More cautious you act, more positive are the results. What are you waiting for? Take a look at the points above and start working. ALL THE BEST!!


As the editor of the blog, She curate insightful content that sparks curiosity and fosters learning. With a passion for storytelling and a keen eye for detail, she strive to bring diverse perspectives and engaging narratives to readers, ensuring every piece informs, inspires, and enriches.

Leave a Reply

Your email address will not be published. Required fields are marked *