Things to note in p2p online loan financial management

How can young people manage online loans well? The real living environment has a profound impact on young people. They are distressed and anxious about different things. Employment, buying a house, and buying a car have become eternal topics for most people. Focusing on wages has long been unable to meet the needs of young people pursuing their ideal life. Young people need to keep in mind ten key points if they want to manage their finances well:
1. Learn to control emotions and restrain impulsive consumption
Young people are not afraid of tigers as they are born. It is most likely to make rash decisions due to changes in inner emotions, so impulsive consumption is more common among this group of people. Many young people spend a lot in games, beauty, music, digital products and other fields, and their expenses often account for a large proportion. Therefore, young people The most important thing in financial management is to curb impulsive consumption and reduce unnecessary expenses.
Financial management is actually very simple. The key point is to reduce unnecessary expenses. Saving is a kind of growth. Financial managers must have self-discipline in financial management, do not follow blindly, and do not spend money easily. If you encounter an irresistible temptation, you can find a longer-term goal to remind yourself not to spend money indiscriminately.
2. Understand financial status and learn to keep accounts. Young people who want to manage money must understand what finance is and what assets and liabilities are. Liabilities are your monthly living expenses. Assets are the net income you have left after expenses. Remember that understanding yourself is the basis for doing things.
Young people are prone to impulsive spending. Unknowingly, their monthly salary is reduced a lot, but they don’t know what they spent on it. So start preparing an account book from now on. Looking at the accounts written down will definitely surprise you. It turns out that you spend money so unrestrainedly. Then the next time you spend money, you will always think about whether you should or should not.
3. Compulsory savings for investment
Young people who have just entered the society and have just entered the workforce have few funds. Banks’ financial products such as funds and trusts have high thresholds. Where should the funds for financial management come from? You might as well use your savings to invest in some low-threshold financial products such as financial management and some lower-threshold insurance products. Compulsive saving is the best way to start out. You can force yourself to save 1 yuan every month. Don’t underestimate this 1 yuan, which only costs 1 yuan a year. What if you add more yuan every month in the second year? That’s 1 yuan per year plus the first year’s money. The total is 1 yuan. In the third year, each additional yuan invested will be yuan in this year. Add the yuan in the first two years plus the possible investment income, and in the first five years of working, you can save a considerable amount of money without the help of your parents, which can be regarded as your first pot of gold.
4. Avoid idle funds
Young people are also facing life pressures, such as: I want to buy a house, buy a car, plan for the future and so on. In fact, for ordinary young people, buying a house or a car is a long-term plan. Rather than leaving funds idle, it is better to make some low-risk investments. Although the return may be lower, it is still higher than the interest on bank current savings.
Young people are more tolerant of risks, partly because of their young age, and partly because they have the time and ability to make more money, so they can withstand some investment losses. If you are unwilling to bear the risks of fund or real estate investment, you can consider some fixed-income investment products such as financial insurance.
5. Maintain a good investment mentality
The impulsive mentality of young people is easy to change due to the environment. Investment is a skill that requires both internal and external training. In addition to choosing appropriate financial management methods and types of financial management, it is also important to be physically and mentally healthy and maintain a good attitude. This will also help improve the happiness of wealth acquisition, and improving happiness is the ultimate goal of financial investment. .
The higher the return, the higher the risk. Everything you do has risks. Any success requires effort. There is no good thing with low risk but extremely high return. A good attitude determines a good life. Finance cannot be all the way up, but you will definitely have to face setbacks. Young people must have a strong and unyielding good attitude.
6. Learn financial management knowledge and develop investment awareness
As the saying goes, a day without learning means nothing. Using time to learn more about financial management and investment knowledge can help people broaden their investment horizons and discover more business opportunities. The more knowledge, the better. In addition, while learning financial knowledge, you must also gradually develop the habit of keeping accounts and develop an awareness of wealth management.
For example, because we have to pay personal income tax, insurance, provident fund, etc., most of our monthly wages are not a whole number, so there will always be some fractions that can be used to make some investments. Financial management is very simple. You must have a strong desire to pursue wealth.
7. Use your own advantages for financial management
Young people are familiar with the Internet and spend a lot of time collecting online information. Xiaoyu is a post-college student who loves the Internet. In his daily online life, he often writes on Weibo, watches Korean dramas, checks WeChat, visits Tieba, and plays online games. I've been doing this since I was in elementary school. Now I spend most of my spare time surfing the Internet. He believes that he can hardly live without the Internet. Yes, the Internet is the advantage of the new generation of young people.
The Internet is widely spread, and more and more young people have access to a huge amount of information. Their consciousness is forward-thinking and active in accepting new things such as online shopping, online entrepreneurship, and online financial management. The method of financial management is based on the Internet. Young people can easily grasp the entire dynamic information of the industry and make accurate judgments on online loan platforms for investment and financial management in a timely manner, so as not to invest blindly because they do not understand.
8. Understand the changes in the investment market and policies
Not only can you save money and make money by buying discounted products, investing is a better way to increase wealth. Young people not only need to understand financial management knowledge, but also need to be aware of changes in policies, markets, and the environment.
Stock markets, funds, precious metals, commodities and other similar investment products will rise and fall due to changes in the market, while investment products such as currencies, trusts, and crowdfunding are more susceptible to changes in policies, which all require Young people should make more efforts to see, listen and understand.
9. Diversified investment to spread risks
Avoid being limited to one or a single investment channel and try to diversify your investments. As the saying goes, try to avoid putting all your eggs in the same basket. Diversified investment is divided into four categories: object diversification method, timing diversification method, geographical diversification method, and term diversification method.
Take the object diversification method as an example. Currently, there are many main investment channels for financial management in the market, such as bank financing, funds, trusts, insurance and other products, crowdfunding, stocks, precious metals, futures, etc. The funds are diversified into various channels. This is the other three methods of the object diversification method. The same is true for this method of diversifying investments.
10. Use compound interest to make money
Everyone knows the story of snowballing. Similarly, the answer to how investments can grow quickly in addition to income is compound interest investment, which uses the income obtained from investment to continue to compound the investment principal and interest. You must know that compound interest investment is a great tool for making money in any financial management method.
For example, if I have idle funds of RMB 100 to invest, the annual rate of return will be RMB 0.0%, and the annual growth rate will be RMB 0.00. Then, if you continue to invest with the newly acquired yuan, it will increase by another yuan and so on. The effect of compound interest cannot be underestimated.