Money Management

Do you know that you can increase your capital even if your income is low? I want to show you the ways to manage money wisely because it’s the most important thing to get the financial freedom even in today difficult times!

How to start?

ways to manage money wisely, mmf

You don’t need any tools to manage your own money but the idea and a good plan. Have a look: the system wants us to go to school when we are kids, go to the university after and find a job.

When we get a job we want to move out from our parents, so we need to find a place to live. Flat usually is to expensive so we need to find a room and live together with other people in the same flat or house.

It doesn’t sound nice and it is not a good perspective for a future. But we need to start our life with that unless our parents are not the owners of some rich corporation or politicians.

ways to manage money wisely, calculator, mmf

You need a plan how to get out of the situation and gather the amount of money that will help you to be fully independent. What if I’ll say that you can start with saving minimum 10% of your monthly income? For example if you earn $2000 per month, save $200!

After 5 months you will have $1000 in your wallet! But it is a long term plan, that’s very important!

And yes, I know it’s hard to save money when our bills are growing up and even the food is more expensive, sometimes even every day! Welcome to reality…

But the good news is that it doesn’t mean it’s impossible. It’s not! All we need is a good strategy. I was struggling to save money years ago but I didn’t give up. I understood that must do it as nobody is going to give me anything for free. I am the only one who is responsible for my own life. The same is for you.

Definitely the first step is to save 10% of your income and if you can save more.

Cost cutting

If there is any problem to save that 10% of monthly income we have to find the way to solve it. The best one is to cut the costs.

Look at the companies, what do they do to save more money? Exactly… they cut the costs. We can do the same!

ways to manage money wisely, calculator and pen, mmfTake some peace of paper, pen and calculator and write everything: your monthly incomes and expenses. Calculate how much do you spend in the month. If the total amount of expenses will let you save 10% then just do it or try to save more if you can.

Otherwise think what do you really need. Probably you’ll have to give up or limit something.

  • Stop smoking if you do. You’ll save a lot of money and health!
  • Use public transport instead your car. Petrole and diesel are very expensive now. If you’ll choose a public transport even every second week, I’m sure that you’ll save some cash!
  • Give up the snacks – you don’t need them! It’s totally wasting of money and health!
  • Limit visiting pubs or restaurants. It costs a lot of money and the food there is of questionable quality. The same for beer in the pub. Ok, we are all the people and we need to meet our friends, but we can take a walk or cycling instead of wasting our energy (money) in these places.
  • Try to negotiate your bills – it not always results but you can try.
  • Check the monthly instalments – if you don’t use something, for example a spare mobile phone, you can ask to cancel your contract or negotiate with the service provider and sell the device. You know what I mean. Too many monthly instalments only burden your budget unnecessarily
  • Buy cheaper – if you buy something, always check that can you get the better price somewhere else. Doesn’t matter it’s food, clothes or anything else.
  • Avoid the loans, credit cards etc – it’s better to wait until you get the money then take a loan. It’s not the solution and will make your situation worse than before.

There is many different methods how to cut the costs. Every situation is different. I’m sure you’ll find some costs that could be cut. The idea is to stop paying for something that is not necessary.


ways to manage money wisely, coins and clock, mmf

I wrote above just the introduction and it’s for people who start. My website is addressed mainly to normal people who want to have more money. They need a help and I am here to give you a hand if you want to change your financial situation. These who have the money simply don’t need a help, as they have what they want.

Ok, if you have some money saved already it’s good time to make use of them to earn more cash. That’s why we invest it. But how? Where? In this part of the article I’ll do my best to show what you can do.

Before every investment you have to asses the risk. There is no 100% guarantee of profit so you must be prepared for a loss especially if you are beginner. You need to be patient as well. It is the best to undertake an in-depth markets analysis before making any decision.

I will create a different article about that, but now I want to show you some of examples.


ways to manage money wisely, Graph, mmf

Everything what is related to money and multiplying it:

  • Investment gold – is always worth to invest in gold as it’s price is going up. It’s because the gold is limited. Less gold on earth – it’s more expensive. Remember to buy investment gold not normal one like a chain or ring.
  • Bitcoin – one of the best options. Its value is growing up so it’s good to put some money in Bitcoin for a long term. I recommend to focus ONLY on Bitcoin, other cryptocurrencies are not worth your money and time. Their value is going down. Maybe Ethereum is worth but Bitcoin is the strongest currency in the world anyway and it’s a good alternative for the coming soon CBDC (Central Bank Digital Currency). You can also get Bitcoins for free. Click here to learn how or here where you will find more methods.
  • Shares – if you thing about long term investments, shares are thought worth. They are safe and the risk is very low compared to for example forex market. If you are going to choose this option you have to find which stocks are good for long term investment. Remember to buy shares of the big, strong and stable company like Google or something like that. They are the best for you because the risk of the collapse is almost 0. After buying shares you’ll be receiving a dividends periodically, so that’s another profit.
  • Properties – it’s a great choice for people who have enough money. It’s not a secret that properties value is growing up all the time. If you’ll buy the property you don’t have to live there but rent it and have a nice passive income every month. After years it will be worth much more then at the time of purchase.

They are just an examples, in my opinion the best ones. I do NOT recommend to invest anything in anything that the local banks are offering, because the profit is very low and it doesn’t make sense to waste time and fund on it.


ways to manage money wisely, old clock and book, mmf

Everything what is not directly related to multiplying money but is helpful. It’s also very important part of investments. Time is money and it’s good to invest your time in education. We all learn all the time. That’s why I recommend to do the researches, find some courses, webinars and trainings. There is a lot of free courses in the internet where you can learn the basics and payd courses, webinars where is a more advanced knowledge available.

One of the best place for both: beginners and advanced users is for example Wealthy Affiliate which provides wide range of trainings and classes. In one of my last articles I wrote the review where I described the platform with details. If you are interested to learn more about Wealthy Affiliate please click the link below to read my review:

==> Wealthy Affiliate – My Review

As you can see there are two kinds of investments and both of them are important. Especially the second one. We can not do anything without the appropriate knowledge of how to do it. That’s why education is always the first step.


The key that opens every door

Ok, we know something about the money management. It’s time for a strategy which will be our key that opens every door to the success.

ways to manage money wisely, Strategy, my money force

After doing my researches in the internet I realised that the most of people are talking only about the methods but they are not focused how to use that methods. Using my own experience I want to show you one of the best financial strategies or maybe even the best one – project diversification.

Let’s go back to the beginning of this article. I have written to save at least 10% of the income every month. If you can save more that’s even better but that 10% is minimum. More then our minimum put somewhere else and do that every month.

Now we are going to concentrate on our 10% savings and we’ll talk more about the rest later.


10% of savings

Ok, if you just start then keep saving money for at least six months to gather a satisfactory amount. Now you are going to spread it over a smaller parts.

Keep 40% as a savings. You must have the money available any time!  Use the rest for investments.

It’sways to manage money wisely, Tablet and Bitcoin, mymoneyforce good to buy some Bitcoins, but don’t use more then 5% of your savings for it. Bitcoin, as I said, is the best currency in the world, but it’s new and that means it’s not stable. Two year ago it was worth almost 70 thousands of USD and now it’s around $23.000. If it will go down and you’ll put more then 5% of your savings then you’ll loose and will have to wait till it goes up again. It’s a risk. That’s why 5% is good enough.

Buy the investment gold for 15-25% of savings. How do you think, why the governments, and not only, gather gold? Because it has a value all the time and it’s a safeguard for the capital. I can understand that gold is expensive and you may not have enough money to purchase it. In that case you can keep saving or buy silver instead which keeps the value as well. Always check the current price before buying to choose the best moment of transaction.

Graph and money mymoneyforce

30-40% spend on shares. If you’ll choose a good stocks to buy then you won’t have to worry about your money as the risk is really low. Even if it goes down that’s not a problem. Just be patient and it’s going to go up again but your money will be safe.

That is diversification of money in your own home budget. You still have 40% of your savings so even is something unexpected happens you don’t have to borrow money from someone or in the worst case from the cash loan companies. Never do that!

Keep saving money all the time. You can buy more Bitcoins every month if you want, but wait another 6 months at least to put more money in gold/silver and shares.


More then 10% of savings

It depends how much. If you can save for example 15% of earnings every month then the best thing to do is keeping the strategy above, and that 5% spend on education or ad to the money you keep as a savings. But education is better as you can get the precious knowledge that can be used in foreseeable future.

If it’s 20% and more then you can just change the proportions, but remember to put not more then 5% in Bitcoin. It’s good to think about your own property if you don’t have one. In the case of 20% savings you can separate half of it for a future property or a mortgage.

Don’t waste your time

Time is money and it doesn’t make any sense to waste it. I know that plenty of people are struggling with the money problems. I did as well. I learned to be patient and do consistently what I need to do.

Small stepsStarting with a small steps to enjoy the life in the future and to ensure stability to our children. Everything starts with savings and even if it’s hard there is no other way. I spend a lot of time to learn how to manage my money wisely. A lot of mistakes are teaching us.

I’m sure that if you apply the strategy of diversification based on saving and investment you’ll achieve your goals.

There is also a lot of online projects to earn money I’m going to describe and review on my blog to help you to get stability in the financial world. Sometimes it becomes a great fun when you watch the statistics and see that it’s growing up.

Road sing and sea

I hope so I helped you to understand all the process and strategy but if you have any questions or suggestions let me know and I’ll be happy to chat with you.

Kind regards

6 Replies to “Money Management”

  1. Timely advice for all specially the young ones who are freshly out of college or in thier first job. Saving 10 percent of what you earn, and automating that saving through standing instruction is the most effective way to set a saving habit. This discipline let’s one invest in other asset classes- shares, Biscuits or properties.

    Though I still need lot of convincing on bitcoins but I fully appreciate your thought process on creating wealth over long term- really a wealth of information here.

    Thanks for sharing.



    • Hi Rohi! Thanks for your comment. Yes, my blog is addressed to normal people to help them with getting financial stability. There is a lot of tools to make money, but people simply don’t know what to do, they need a strategy.
      Kind regards,

  2. Thank you for sharing this informative article on managing money wisely and increasing one’s capital even with a low income.

    Your suggestion to save at least 10% of one’s monthly income is a great starting point for anyone looking to build their wealth. Cutting costs is also an important factor in saving money, and your suggestions on how to do so are practical and applicable.

    It’s also great that you emphasized the need to assess the risks before making any investments and that there is no guarantee of profit, especially for beginners. Overall, this article provides valuable insights and advice for those who want to take control of their finances and improve their financial situation.

    All the best,


    • Hi Fred!
      This strategy is always effective and yes, the risk assessment is important especially for beginners. I remember when I was starting and I was loosing money because I was fascinated too much to earn more. Thanks for your comment and all the best for you!
      Kind regards,

  3. I totally agree that everyone should make a very through planning of their financial status in order to be able to gain success and stability. I think a lot of people do not understand how important this is and they live as they go. As a result in the first financial trouble they give up and do not know what to do. Which can result in a major disaster both in their family and personal status. Always plan ahead and for the future.

    • Hi Stratos and thanks for your comment! Exactly, it is as you said! The problem is that they don’t teach in the school how to take care of our own budget, and we can see the results

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