Youth is a time when a lot of people prefer to live well than save.
They spend what they earn on having a flashy lifestyle and up the ante of their standards – all the while giving a go-by to putting their monies in banks, securities and other assets. The younger generation also may or may not place their bets on drawing up budgets and organizing an on-schedule savings plan. In addition, the actual psychological cost associated with a big debt is something they do not think much of beforehand. This includes a very high level of stress and lesser amounts of productive activity due to this.
Not being able to manage finances is troublesome…
Not being able to manage your finances can lead to even long term troublesome end results. Thus, the ability to manage your finances’ study has been on the forefront for many, many years now. It is the heightening concern of many a researcher in this field. One should plan one’s finances – there is no doubt of this. At any given point in time, savings for a home, a vehicle, education for children and health insurance should be high on the priority agenda for folks.
If a person is very young and has just started earning, they should keep aside a portion of their savings to invest in a house as soon as is possible for them to do. Also, ear mark some amount for your own health and that of those who could be dependent on you – like ageing parents or siblings who are not independent et al.
This is not to say that one should lead a life which is full of boredom and no enjoyment or merriment. If one is putting in several hours of hard work in a day, it is also necessary to take some time off and relax and be merry. Also, socially too, one must mix up and have a good social circle of friends, kith and kin. Also, one must entertain and be entertained oneself. It is just that a bank balance with a good figure of savings will stand you in good stead at any given point in time.
This story is from the July 2017 edition of The Observer of Management Education.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2017 edition of The Observer of Management Education.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Workload Management: Why Is It Essential In The 21st Century
The workload management is the procedure of distributing the work among the employees of the organization.
THE CHANGING ROLE OF THE FACULTY MEMBERS OF B-SCHOOLS
Teachers of the day of yore. Mentors of yesterday.
‘‘The goal is to inspire and empower students to be the best they can be''
- Dr. Sivakumar Alagumalai, Professor and Dean (Undergraduate – Global)
Work on your presentation skills
“Everything can sell if you have the ability to sell it” In the field of management you need to have good skills of presentation. PPT presentation is important for Advertisement, Management, and business etc.
Slow and steady job growth
Five reasons why manufacturing careers will flourish with the growth of innovation and globalisation
Setting an alternative route
Want to study an MBA but don’t want to spend thousands of dollars in tuition fees? there are several ways you can get a degree or take MBA courses at no cost.
Right approach!
A millennial employee is one who has a diverse set of opinions, is fascinated by new technologies and is collaborative by nature. the most distinctive feature of these new-age employees is their approach towards work, which is quite different from the generations before them.
For Heighten Performance
“A man who refuses to admit his mistakes can never be successful”
Leadership vs Management
Leadership and Managers are two widely discussed topics.
ELEVATING THE HUMAN EXPERIENCE IN WORK AND BUSINESS IS THE MOOD OF THE MOMENT
The human experience: and that too while conducting business activities.
