Saturday, April 3, 2010

Learning to Handle Money

Among the lessons I learned from books I read about managing finances, the one that was so new to me was the idea of becoming financially independent as early in your life as you can. Retirement is usually set according to one’s age. But this lesson I learned challenged me to try and retire at an age earlier than the usual retirement age of 60 to 65 years old.

One way of reaching this state, it said, was to save and invest your money. One practical application is taking advantage of the current life insurance rate and making it work for you by investing on it. It also suggest other ways to invest, which works on the principle of compounding interest. During these trying times, knowing how to handle money can help us in practical ways, but we must never forget that it is God who richly provides us with everything we need so we must look to Him first for our needs rather than our own skills, jobs and security.