Managing your income
November 5, 2007 2:17am CST
Today's woman is taking on many responsibilities and contributing significantly to the household income. So,it's very essential that she equips herself to manage her hard-earned money. To begin with,understand your current financial position and write down all about your assets,liabilities future needs and earnings. Identify and prioritize short,medium and long-term goals and the time span to realize them.Once you know how much money you need to realize these goals,determine the gap between what you are today and what you need in the future.Review your plan periodically to ensure that it remains robust and applicable to your lifestyle and family situation. Time is of essence in financial planning because if you do not systematically manage your wealth, inflation and currency fluctuation risks can take a big bite out of the value of your wealth.