In today’s uncertain economy, managing personal finances is very important. Managing personal finances can help a person achieve their goals financially, such as buying a house, saving money for retirement, or managing debt. In addition, managing personal finances can also help a person to manage financial risks and reduce stress that may arise from financial problems. By managing personal finances, one can make wise decisions about expenses, income and investments, so as to achieve stable and prosperous financial well-being in the future.

If you already have the plan to manage personal finances, we have summarized some tips that can be done as an initial step in recording personal finances:

Make a Financial Plan: The first thing that must be done in managing personal finances is to make a financial plan. A financial plan should include short-term and long-term financial goals and steps to be taken to achieve them. This will help someone to stay focused and organized in managing finances.

Set Priorities: After creating a financial plan, one must define their financial priorities. Financial priorities can vary for each individual. However, generally the priority that needs to be completed first each month is debt repayments, which are then followed by details of routine expenditures, and average emergency expenditures. If you focus on these priorities, it will help you to manage money more effectively. Don’t let too much money run out for tertiary budgets.

Learn about Finances: Apart from making plans and setting priorities, one should also learn about the basics of finance and ways to manage money wisely. In this digital era, there are many sources of information available, from paid to free, ranging from e-books, websites, to online courses that can help someone learn about personal finance. For now, Microsoft Skills for Jobs is providing free personal finance lessons taught by experienced tutors in the field. You can access this material directly by clicking Apart from studying, you will also get a certificate if you successfully complete assignments based on the material you have obtained!

Saving: Saving is one of the most fundamental things in managing personal finances. Someone should have more income than expenses. Making it a habit to save money every month can be a good key to managing finances and refraining from spending money on goods or services that are not needed. So that in the future the money that has been saved can be used for long-term goals such as emergency or retirement funds.

Use Budgeting: Budgeting is an effective way to better monitor expenses and manage money. Budget money in predetermined posts so that there are no financial leaks and you can see neat and detailed financial records.

Managing Debt: Debt can be a heavy burden in managing personal finances. If possible productive debt can be allowed but consumptive debt can be dangerous. Because consumer debt does not make income better than productive debt. So from managing the debt that you have and make sure you can pay it and not take a big risk in the future.

Review and evaluation: Periodically review and evaluate your finances to ensure that you are staying on track towards your financial goals. If you have strayed, you need a new, adjusted plan to keep you on track towards your plan.

Try learning about personal finance from Microsoft Skills for Jobs! Guided by tutors who are experts in their fields, you can access the material for free! Just click Good luck managing your personal finances, we hope you achieve your goals soon!