5 Money Rules That Won't Let You Die Poor


Bangalore: Even if anyone is born poor, but he would always aspire to die rich. In this world, who doesn’t like to own a fatter bank account? Saving money is simple; people make it complicated. Our wrong financial decisions and bad investment holding often lead us to the roads of poverty.  For this New Year follow these five savvy financial habits which will eventually take you towards the path of Lifelong financial Security, reports Jean Chatzky, Women’s Health

1) MAKE MORE

Your Job Is Your Most Important Investment

Your job--more specifically, your earning power--is your greatest asset. You must treat this asset like any other investment in order to protect your financial security. If your work profile is risky (you're paid on commission, or your job security is closely tied to the economy), it's like a stock. If it's more stable (you work for the government, or you're one of the lucky few who still has a traditional pension plan, or you're a tenured teacher), you're essentially holding a bond. In a stock-like job? Be a little less aggressive in your investments. If you have job security, you can take a bit more risk.

More: How Fun Hobbies Can Help You Earn?

Know Your Worth On The Open Market

Are you worth more than you're earning? Or less? If you're underpaid, you're losing money every day by not asking for a hike in your paycheck. If you're overpaid, be prepared to lose your job in case your employer finds smarter and better than you. Therefore, you should better update your skills or improve your productivity. You can check salary information online at sites such as Paycheck.in. Even better, ask a friend or colleague, "What would someone with my skills earn at your company?"

Also Read: Investment Resolutions to Make This New Year