5 Money Management Tips You Need for 2012 to Be Your Best Year

Money is volatile and that’s why everyone who has it in hands should make sure that they make proper use of it before it goes away. Money doesn’t have wings but it does fly away if the person who controls it doesn’t know how to protect it before. It doesn’t want people to care for it, but it loves be around a person who knows how to send it on errand to go and produce more money – that is the secret of the rich and the difference between the rich and the poor.

Rich people use money to make money while poor people store and protect money in their bank account. They don’t want to send money out; they believe that keeping it will bring about the changes they are looking for which is financial independence.

This article shall be showing you top five tips to help you manage money very well and become richer even with the mere money you are earning from your place of work without hassle. These five tips includes some of the ideas I recently shared on my tech blog with the readers to help them save money in order to achieve greatness this year. So, follow them and see the great results afterwards.

1. You Must Hate Saving Account – don’t save money but use money to get more money

One of the basic problems many people are facing is how to secure their money, they don’t want to lose it and instead, they opt for bank savings account to help themselves out temporarily. But, within some days or months, they’ll notice that the money isn’t increasing but rather decreasing. What might be the reason for this? That is the major question most of this people asks with no one to give them the perfect reply. And I am ready to share the answer of such experiences with you now.

The answer: Banks are established to make money from their customers and business associates, they pay staffs’ fees and some other things and they won’t be able to do all this things if they aren’t making money back into their business. These banks reduce a certain amount of money from each customer’s account by default and they usually call it management money and all of sort. And in returns if you borrow money, they will reduce some percentages and from this, you are paying them for saving your money and also making money from your money instead of you getting all those benefits.

That’s why you will notice that your money reduces with nothing to show for it. Avoid bank savings account and get a fixed deposit account instead if you want to save your money because with savings account, you can still withdraw your money when you are in need of it and it can’t be if you fixed such money in a fixed deposit account which will certainly yields some return after its maturity period.

2. Don’t fancy all your bank interesting product offerings

Banks and there MD’s knows every finance strategies to exhort money from their customers by offering them mouth-watering offers that is in most cases irresistible for them. Any offer from your bank account management asking you to invest certain amount for a period of time should be avoided if you want your money to last in your hands – because mostly, those kinds of investments doesn’t yields good results at the end and they will end up giving you more headache at the end of the contract.

3. Invest in Gold (both online and offline)

Gold is known as the world most cherished investment for anyone who would love to become richer sooner. Either you have little or big money, you can invest in Google online. But, getting the perfect company (brokering company) that will help you through is another challenge on its own. Nevertheless, you can still make it happen by reading online journals on investing gold which can even give you tips on a company closer to you in your country.

4. Invest in Oil Companies Shares

Oil is one of the drivers of economy worldwide. Libya is known as one of the strongest producer of oil throughout the world and that’s one of the reasons Muammar Gadhafi, the country’s formal leader became harder for the world and the U.S. (United States of America) to conquer. It is because of the treasure that’s in control of Gadhafi and U.S doesn’t want to be a loser. Now imagine yourself having a percentage of all the barrels of oil produced in Libya on daily basis, you’re already a billionaire.

So, in your country, if there’s any company engaging in Oil that has shares offer, you should go for such because it normally yields better than leaving such money in your bank account for a very long time without using it for anything.

5. Listen to Google Finance for Tips and Guides

Google have showed us all that it has the capacity of holding a large percentages of the internet shares, the company in order to order to help investors to know how their investments are doing in share market or forex market, developed Google Finance which is aimed at helping people track what is happening in the world of stocks and oil trading.

So, if you wanted to engage in trading and oil or other investments, you should subscribe Google Finance to get daily investment tips and guides and forecasts that will help you in choosing the perfect company to invest in.

About Author : Olawale Daniel writes for Payday Uk to inform, teach and empower others in order for them to lead a successful life on earth, and that’s why he is adding his quota to help the needy get pay day loan.

Vijayraj Reddy
Vijayraj Reddy is founder & editor-in-chief of Startmysalary.com, a financial blog which helps people to earn money, invest money and save money. You can find him on Facebook & Twitter or send him email at [email protected]

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3 Responses to “5 Money Management Tips You Need for 2012 to Be Your Best Year”

  1. Kevin says:

    Money repels those who do not know how to manage it,it likes to be judiciously used,if you mismanage money it will run away from you

  2. PrIyAnGsHu says:

    Great article Olawale. Thanks for sharing it with us.
    PrIyAnGsHu recently posted..Our Earnings Disclaimer – We Don’t Claim to Make You Rich OvernightMy Profile

  3. Olawale Daniel says:

    Hi Priyangshu,
    Thanks for the compliments. I’m glad you like my article. Hope you get one or two things to learn from it?
    @Kevin, thanks for stopping by.
    Olawale Daniel recently posted..10 Best iPhone and iPad Finance AppsMy Profile

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