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Money management - How to manage your money?

 Kevin was not interested to know anything regarding money management. Money, for him, was not a necessity but a means to achieve whatever he wanted in his life. He used to live by his motto. Kevin had a high-paying corporate job. He was the financial advisor to one of the major apparel brands. He used to get a thick sum of payouts every month. 

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He used to go on vacations, stay at luxury hotels, preferred fine dining to home cooking and had a life similar to a celebrity. One of his friends advised him to save up on money or invest it so that it could be beneficial in the future. Kevin laughed at his colleague, ignored him completely and carried on with his life. 

His dream was to buy a mansion, own luxury cars, buy clothes and decorate home with branded products. Kevin was literally living his dream when an incident made a huge change in the life of Kevin as well as many others. Due to the rise in negative publicity, the shares of the apparel brand started crashing. Many organizations staged a protest and requested people not to shop from the brand's outlets. To overcome this, the brand tried their best in providing offers, coming up with public statements and posting various statements on social media. Unfortunately, the negative publicity was so huge that the company had to declare bankruptcy within a few months. 

Kevin was unable to accept this as he was used to living a posh lifestyle since he started working for the brand. However, the company told Kevin that they were unable to pay him and the company was about to declare bankruptcy. Unfortunately, Kevin had spent all his money on apparels, vacations and other luxuries. He was so broke that he was not even able to afford to eat food at a reasonable place. He asked for help but his friends were only able to provide him with some money so that he could barely survive. He had to sell all his property, apparels and other things he owned to rent an apartment and survive. 

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The above story tells us how life might take a "u" turn in the blink of an eye. It is very important to learn how to manage your money. Save up money little by little every month. Use the savings when in need or urgency. From the payouts, save up a fixed amount by deducting money for gas, rent and other utility payments. Learning to manage money doesn't happen in a day. You will learn it as time passes. 

Have a great day and stay strong :)

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