Types of Income

In order to understand more about Money, you must first understand the different types of Income. It’s really better to understand the below 3 basic types of income, so that you can decide better in which way you want to Make Your Money. 

1) Earned Income:

Earned income includes all the taxable income and wages that a person receives for work they have done. There are two ways to get earned income: You work for

Read More

Basic Rules of Money Management

Money management is extremely important to your financial well being. Improper management of money will lead to financial difficulties & bankruptcy. This simply means "spending more than what is earned". The two ways of increasing wealth is to either increase our income, or decrease our expenditure. 

“Are you playing safe with money?”.   

If not, here are some basic rules to help you get your money into good positive shape.

1.  Plan Your Finances

Plan for your families’ future, any major

Read More

Some Basics to be known other than Money

All about your Money Honey… Part 5

You are here just to refresh yourself about some basics to be known other than Money - Income, Expense/Spending, Saving, Investment, Inflation and Deflation

What is Income?

Some Basics to be known other than Money (Income = Savings + All Expenses)

# Income is money earned by means of Employment (through Salary, Wages,

Read More

Is Money important for Human Life?

All about your Money Honey… Part 4

Money, Money, Money...

You must know how money is important in our life with continuation to the previous post of Types of Money.

Money lets you live a reasonable, comfortable life so that you can buy the daily necessities and take care of people around you. In that sense, it is important. 

Importance  of Money in Life Subramoneyplanning

Dawn until Dusk, day after day, month by month and year after year we need money for leading self-sufficient life. To

Read More

Types of Money

All about your Money Honey… Part 3

In continuation to Money, its functions, characteristics & importance, now let us know the types of Money.

Types of Money Subramoneyplanning

Commodity Money:  It is something that performs the function of money and has alternative, non-monetary uses. Money that has an alternative use as a commodity–cattle, gems, and tobacco, for example– is considered commodity money.

Examples:  Gold, Silver, Cigarettes

Fiat Money:  It is something that serves as money but has no other important uses. The paper money is generally called as the fiat money. Fiat Money has a face value determined through

Read More

Money, its functions, characteristics & importance

All about your Money Honey… Part 2

In continuation to Barter System & its disadvantages over Money, now let us understood why was there a need for “Birth of Money to bring an end to the Barter System”

Money is a social convention.

 “We accept money as payment because we expect others to accept it from us”.

In Brief, Money is anything that people will accept in exchange for goods or services, in the belief that they may in turn exchange it, now or later, for other goods or services. Right from birth to death, everybody requires money at every stage of life. It is the honey baby/heartthrob of every heart.

As we know “Money is what money does” , so let’s see the functions of money.

Functions of Money (What Money does?)

The functions of money are the same which were defects in

Read More