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Financial Management: This Topic would make you wealthy overtime if you do not belong to rich family already!

Updated on December 26, 2016
 

Money till date is the greatest invention that man has ever made. With money the trading becomes so much easy. Each commodity has a specific value and you can buy whatever u want in exchage of money with ease. Everybody, including the big businessmen are in this race to earn more and more. But the real key to becoming wealthy is to not only focus on the earning part but also the management of money. Proper money management can save fortunes and make you wealthy in no time while financial mismanagement can make u bankrupt no matter how much you earn.

The key to financial management is to know the Value of saving and investing. 30 percent of the amount of money u make should go in to saving and 25 percent of money saved should be invested in some of the best mutual funds, in shares or title land. Invest in comodities which can give u better returns. Gold and silver are also good options. Also a wise man would get himself and his family insured for accidental death, health and other important insurances. It's better to be safe than sorry later.

In the end it's upto the individuals to decide what they want to opt for. But the money managed well, can go a long way in making a small wealth which u can rely on in times of need.

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