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...

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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...

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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,...

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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...

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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,...

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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...

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