Online Gambling co uk considers that aside from Time Management which was already tackled on the website (please see separate article) that really is a factor on how everyone may indulge changes on their lives for the better, it is also important to build knowledge regarding the things as important as time and can be considered as the factor of measurement, though not necessarily and not always, still had a tremendous effect on one’s lives. We on the website believed that by understanding the essence of a good Money Management, economic situation within oneself could be accurately measured so as to prepare in building a good future which may affect the viability of a country in terms of economic and financial stability. As many times mentioned in http://www.online-gambling.co.uk/, Our Social responsibility includes educating our good clients with materials that are useful and worthy of their times. And no matter how complicated life would be and no matter what the obstacles are in life, it would always be important to be educated and well-informed on the things that are of great value and those knowledge that of great factor in one’s destiny, Money Management!
- “When it comes to money, you can't win. If you focus on making it, you're materialistic. If you try to but don't make any, you're a loser. If you make a lot and keep it, you're a miser. If you make it and spend it, you're a spendthrift. If you don't care about making it, you're unambitious. If you make a lot and still have it when you die, you're a fool--for trying to take it with you. The only way to really win with money is to hold it loosely--and be generous with it to accomplish things of value.”
- JOHN C. MAXWELL, Motivated to Succeed
Money and Its Value!
Money, monetary, cash or whatever the currency used in a particular country, Dollars, Pounds, Euros, Dinars, Pesos and whatsoever could be considered nowadays as one if not the most important asset of any individual. Money is the only sole medium of trade in exchange to any merchandise with the same value regardless of quantity and quality. Money has also the most powerful purchasing ability because it is the only merchandise that could be stretched to whatever the value of the enterprise. But the value of money never stops on this individual use within purchasing and merchandising trade as Money is also very important in the economy of a particular nation, though we cannot measure one nation’s economical standard and quality just by the value of their monetary currency. Sometimes, money resembles with professionalism as it also changes the personality of anyone who treasure it with value and respect. Its effect to a national economic deterioration as well as to a country’s development is considered to be huge and powerful.
- “So you think that money is the root of all evil? Have you ever asked what the root of money is? Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?”
- AYN RAND, Atlas Shrugged
The Demand for Money!
No one as I know who had NO interest to money, not because of its looks but because of its power. Even a kid would agree that he can only get what he wanted if he or his family do not possessed enough amount of money in exchange of the commodity he wanted. Though it is not right for the kid to be tolerated that money is everything because that kid too would be an additional part of the getting high demand of Money, it is also important for them to learn the value of money and how to achieve this monetary for a good cause and through a good source. Yes, again, money is so powerful, for oneself, for individuals, for national security. Its purchasing power is unparalleled, no things existed on earth are invaluable of money. And portion of this power is the reason why people’s demand for money is greatly on high level. Most of the times, the demand for money depends on its supply as compared to the values of the enterprise, as the economic situation of a nation is getting at risk, the value of every enterprise including the services and commodities are getting high, therefore the demand for money also is flying high. This is in accordance with our modern times lifestyle as if we study the ancient or the not so ancient times, any commodities that are considered necessity can be traded by other things rather than money, there is gold, silvers, even silks and pearls. The demand for money during those historical times is not as big as today of course but if you analyze the situation and compare the mentioned valuable things, the only difference is the value of the assets in exchanged for the trade of enterprise. Meaning, money because the amount is already defined to its every single detailed (unlike gold and etc which do not have exact value) could be considered as the greatest innovations that the human life could ever have.
What is Money Management!
It is an outlined and systematized body of management which involves the process of taking care of money or any form of assets that can be transferred to cash in parallel to its amount and value. This may include a simple saving, proper trading, investment and taxes. Money Management is a tactical strategy on how to make the most of your money for proper spending, into the correct timing for investments and of course, it is about not neglecting your responsibility to the states by paying your reasonable taxes. The essence of Money Management is to establish a wall or a distinction in spending money for those non-importance materials to the allotment of money for the necessity and primary needs of oneself. One of the importance and objectives of studying Money Management is to provide sufficient knowledge among others especially for gambling and for stock trading as well. This is to clarify that this article is not about avoiding gambling or any forms of gaming as this were generally considered as a waste of money, http://www.online-gambling.co.uk/, would like to establish a fact that having the knowledge about Money Management is a support on when is the right time to exert an effort and spend some amount for entertainment and fun. This is also to know who among individuals have the capacity to indulge into this type of entertainment which requires them to throw some money. But before that, we, on the website would like to insist that saving money is very important for many reasons.
Is Saving Money Important?
- If you are a young entrepreneur and you think that you still need to learn something else aside from what you are doing, it is best to save money for your education, probably for Masteral courses or for Doctorate title. It is also good to invest in education as it is the ticket for a good future and a superb career. If you are a parent or you had someone else who depends on you, like your kids or even nephews and nieces for you had guardianship programs for the children, you can also consider them the reason for saving as they would need proper and sufficient education.
- For emergency purposes, to others, this is actually the most important because many believed that emergency cases happened unexpectedly whatever the cause or however it was evaded, it would always come. It is important to have savings allotted for emergency cases to cover unexpected expenses like sickness, accidents, early retirement or even unexpected loss of jobs. Some also believed that instead of saving cash for emergency cases, they could have put up insurance plans and securities covering the mentioned obstacles, but we on this website always believed that it is much better to have savings in cash of course aside from those insurances to be prepared in case unavoidable circumstances in spending comes.
- If you are just starting to work and you are a neophyte in the world of working industry and you are single, saving money would be very important to you to prepare for your own marriage. Though there are parents who usually shoulder the expenses of their marrying son or daughter, it is also good to have at least a contribution from yourself as it is your own family that you would start. But you can only do this if you have a savings of your own to cover at least the things you wanted to add that your parents disagree.
- Of course f you just got married and you’re just starting a family, it is important to save money for your first kid. The maintenance of your wife’s pregnancy, the hospitalization, medicines and etc. This is actually one of the biggest problems of the third world countries. Families are afraid to undergo proper hospitalization for their pregnancy because of the expenses and the miscellaneous that would need in the hospitals. But if you have a savings allotted for this, there would be no problem with you.
- And if you already have a savings and you noticed that the amount is getting less and less, meaning your account due to many unexpected expenses is deteriorating, probably also because of the increasing price of the things that your using or the services that you needed, we believed that it is very important to guard your bank account savings by saving another to cover up the losses on your savings. In short, you do not have to stop savings just because you believed that you already had saved a lot of money because you would not know what would happen to the incoming days.
- You see, there are so many reasons to consider in saving money and aside from these mentioned important reasons, there are still some like saving to buy cars, for new house, for travel and other luxurious matter. Retirement is also very important reason in saving money. No one would want to work all his life, there is always time to retire but there is seldom or very few good retirements. Meaning, you can only have a good retirement if you had saved money to cover expenses, whether it is necessity or just for luxury after you stopped working.
How to Save Money?
After we had mentioned so many reasons to save money, http://www.online-gambling.co.uk/, would like to include also some ways that would definitely help our players to save money. Whether it is for emergency cases or whatever the reasons, it is important to save. And if you are saving for luxury or to spend it for entertainment and fun, it is also very important to select medium that would not waste your effort in saving portion of your salary, like for example you wanted your EXTRA money to spend in trying your luck in an online casino gaming, we highly recommend online casinos that are listed only on http://www.online-gambling.co.uk/, as this is the only time we can guarantee that what you had saved would never be wasted. Some of the ways in saving money are as follows;
- Making a checklist – Enlist all the necessary expenses for the month or for the week. Prioritize monthly consumption bills like electric bills, water bills and etc. Eliminate those on the list which are not that important for your everyday chores. Compute in every details of the prize including coins and pennies. To save money, convert all the amounts that are not exact to the unchangeable bills, for example, the total electric bill for the month is $345.55, allot $400 for this and consider the change as not existing by putting it on your savings.
- Auto deposit account – If you are working in a private company, it is more likely that they would allow you to have portion of your salary be deposited automatically directly to your saving accounts. There are banks that offer this option and usually discuss this to the employer as part of their service in the company’s salary or corporate account.
- Separate saving account – it is also important to have a separate savings account that usually is unlisted to your source of withdrawals. Consider this separate savings account as invisible. You can make of this way by letting a trusted relative or friend to keep those records of you including the ATM or the bank book for you not to be able to withdraw in case your itchy fingers would want to spend money. This trusted friend should not always be on your side, she or he could be from different city or lives in a different house, somewhere that you would spend time before you can borrow your ATM.
- Cut-off utility usage – This could be of great help for you to save money. In case that you notice that your utility bills are getting higher, you should start thinking ways to lessen at least the consumptions. Though this would contribute a little to your savings, it would be enough to add to some necessity in your daily chores.
Invest, invest and invest!
Another scope that evolves in Money Management aside from saving the money is investing. Investment means placing your money to a certain business enterprise or even to cooperatives that render service which involves monetary funding. With the expectation of getting your money bigger by the profits gained through the business or by dividends among other members of the coop. So, investment’s main objective is the hope to generate income and earnings aside from the capital that you cashed out. But never forget that investing would not always turn to a positive outcome, it also involves risks in any form like bankruptcy, mismanage cooperatives and some accidentally losses.
- Business Investments – meaning you would put some of your money to a business, whether as a sole proprietor or as a business partner to someone. Its main objective is to gain interest and profit from the enterprise that you would dealing with.
- Asset Investments – meaning you would buy something that you think the value would increase in a due course of time. The best example of this would be Realty, Housing and etc. You would take the risk of buying an asset which you could sell in a much higher prize.
- Bank-related Investments - There are also some forms of investments which include intermediaries such as banks that would handle and manage your investments. A stock is included on this form of investment. Mutual Funds, Insurance and etc are the best examples of this form of investment.
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