Personal Finance for Millennials

1
Personal Finance for Millennials
2
(No Transcript)
3

• Your economic security does not lie in your job
  it lies in your own power to produce to think,
  to learn, to create, to adapt. Thats true
  financial independence. Its not having wealth
  its having the power to produce wealth. 
• Stephen
  Covey

4

•  Over the years of changing generations, the
  millennials have advanced the basic meaning of
  work through various economic and corporate
  trends. Each individual in todays time faces
  hardship in stabilizing and balancing their
  wealth with personal life, which is why it is
  essential to gain ascendancy over your personal
  finances and wealth.
• The exercise of the principles of finance to
  follow-up monetary decisions of an individual or
  a whole unit is called personal finance. This
  focuses on righteous spending, saving, budgeting
  and other financial activities with variant
  monetary resources.

5
Why is Personal Finance Important for Millennials?

• To create wealth and value your net worth.
• To avoid, annihilate and eliminate debt.
• To track financial budgets.

6

• Helps you expand your horizons to discover
  various financial opportunities.
• Better understanding of accounting, tax and legal
  formalities.
• Helps you attain your best interest.

7
Following are certain guideline one is advised to
adopt in order to set personal finances right-
8
 1. Draw A Line

• It is very important that you understand of where
  to draw a line with your personal finances. This
  means realizing the aberration between
  investments in personal assets and business
  investments at individual basis. A prospect and
  young entrepreneur should never adhere their
  future and potential to the success of companies
  they work in. You should not hesitate in
  investing a part of your finance to follow your
  passion if you maintain financial security.
  Self-employed Millennials should aim at
  constituting miscellaneous and long-term invested
  portfolios that help them grow beyond a comfort
  zone because financial planning is not just
  limited to numbers it should help you build
  yourself with ardor.

9
2. Maintenance of your Books

• Business is all about risks, but do you know the
  biggest risk of all? Not taking any. In the
  process of building your organization, you tend
  to follow-up higher and heftier projects, charter
  more workforce and so, you have to be efficient
  enough to maintain competence and expertise. It
  is vital to address minute details along with
  achieving goals..

10

• For instance, the financial management of your
  company, i.e. a well-structured and methodized
  budget, should meet the required needs and
  smoothly help the organization pass the tax
  season. Top-quality accountants and financial
  advisors are the pillars of this financial
  management they utilize avant-garde technology
  to keep a record of assets whilst providing
  personalized guidance like deploying more capital
  in certain areas or cutting back costs.

11
3. Formulate a Disciplined Savings System

• Financial security and independence is an
  esteemed ritual in every Millennials livelihood.
  For instance, every time your business generates
  revenue pay yourself a portion of proceeds. The
  capital of your company is utilized in payment of
  bills, debts and salaries. While on the other
  hand, when done with the management of these
  accounts, a portion of fixed amount to yourself
  can allow you to frame your personal budget and
  uniform long-term savings plan.

12
4. Hire Professional Advisors

• To help meet primary and basic planning
  requirements like integrating a saving schedule
  for personal budget, Millennials are required to
  contend with more and forthcoming financial needs
  of their businesses. You need proper and expert
  guidance to undergo and take financial and
  economic decisions.

13

• Henceforth, Personal finance helps accede
  high-financial literacy for Millennials and thus,
  should be followed for a productive future.

14

• At SBS Fin, our financial fitness expert Rashi is
  on a mission to spread Financial Literacy and
  Physical Fitness for the millennial
  generations. She is a financial coach to many
  startups of the millennial generation and is also
  spreading awareness about Physical Fitness as one
  of the mantra for Financial fitness.

15

• SBS Fin is regularly engaging its clientele in
  educative events about health lifestyle to
  pursue their goal of maximizing avenues for
  financial fitness among the millennials. You can
  reach Rashi through the contact form or email her
  on, rashi.bhargava_at_sbsfin.com