How Do You Evaluate Personal Finances?

[Suba]

There are many benefits if we regularly carry out personal financial evaluations, at least we can find out the ratio of assets and debts in personal finances, whether assets including investments and savings increase or decrease every year. But many of us feel that we have failed to implement the financial plan or budget that we have made, and mistakes will be repeated continuously without correction, so based on the reasons above we need to evaluate our personal finances, so that we can measure the success of the budget to achieve our goals. finance. So how do you evaluate personal finances?

 

[Starmix]

It's best to evaluate our finances whether gaining or losing. I evaluate my finances according to my savings, my business flow, my expenditures whether over or not. Let money talks.

Post automatically merged: Apr 8, 2024

It's best to evaluate our finances whether gaining or losing. I evaluate my finances according to my savings, my business flow, my expenditures whether over or not. Let money talks.

 

[Augusta]

It is good to evaluate your personal finance to know how you add doing with your financial life. You would be able to know whether you are doing well if not

 

[Starmix]

Evaluating our personal finances would lead us to a realization of whether we spend much or spend less. This way, we can adjust our expenditures and save more instead.

 

[pinway]

One must always monitor his networth that is Assets against liabilities. It's equally important for a business to be solvent and must always monitor the cash flow.

 

[Starmix]

One must always monitor his networth that is Assets against liabilities. It's equally important for a business to be solvent and must always monitor the cash flow.

Very well said, my friend. That is very true as per the experience you have at your workplace as the right hand of your local ombudsman and the Mayor.

 

[pinway]

Very well said, my friend. That is very true as per the experience you have at your workplace as the right hand of your local ombudsman and the Mayor.

I am monitoring the money not owned by me lol. Everyday cashflow must be updated. With all the demands of some officials as they think if it's in the budget it's equivalent to cash lol very naive officials.

 

[Starmix]

I am monitoring the money not owned by me lol. Everyday cashflow must be updated. With all the demands of some officials as they think if it's in the budget it's equivalent to cash lol very naive officials.

That is the most crucial job of money monitoring because, with one false move, you'll accused of something like corruption or malversation of funds.

 

[pinway]

That is the most crucial job of money monitoring because, with one false move, you'll accused of something like corruption or malversation of funds.

That is correct and some people don't understand why. Government financial system differs from private sector.

 

[Starmix]

That is correct and some people don't understand why. Government financial system differs from private sector.

Some people are judgmental, they never investigate. they right away conclude on what's going on with the funds in the hall.

 

[arunima25]

My husband and I would evaluate our personal finance regularly, at least once in every two months. We should do this regular evaluation to see if we are going on the right track. It's good to evaluate our investments from time to time to be sure that we are on right track and getting the desired results. If things don't go as planned, one can always change the investment scheme before it's too late and you have incurred irreversible losses.
Moreover, our situations and financial obligations keep changing and we have to update those changes in our personal financial plans.

 

[Augusta]

Yes, it is up to everyone to always evaluate their finance. This is where you would know how you are fsrkng with your financial life