5 Important Laws Of Money

 Hey Guys, 

In this post we will discuss about very important laws of money that you need to understand must. You must have to avoid debt and become financially literate. 

Must Read :- Become Wealthy In Next 5 Years . 

So let's discuss,

• Invest And Track Your Net Worth :- 

1. It helps you in staying ahead in inflation.
2. It helps in building wealth. 
3. Capital Growth. 
4. Dividend Income(Stock Market) /Rental Income (Real Estate) . 
5. It helps you in adapting changes. 

• Don't Spend More Than You Earn :- It leads you in borrowing money on high interest rates and this will decrease your financial stability and you will not be able to generate wealth. So spend money according to your need and make multiple sources of income.

• Don't Waste Money In Impressing Others :- Many people spend money to impress others like their crush, wife, friend and many others. They spend money in wearing expensive clothes, new and branded watches, shoes and many expensive products this leads them towards poorness. 

• Don't Buy Depreciating Assets :- Many financially illiterate people buy depreciation assets which are bad for their financial health or it is hurting their wealth. The best example of it is that buying a car without need is a depreciable asset, which is not a depreciable asset if it is actually needed. That's why we think wisely while buying any asset. 

• Making Budget :- 

1. It helps you in saving for emergencies. 
2. It monitors your weekly/monthly/yearly expenses. 
3. It helps in focusing on your financial goals. 
4. Control on your money. 
5. Helps in resources allocation. 

These are the 5 very important rules of money that you must need to know. 

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