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Reader questions and feedback on Personal Finances: Strategies in Handling Your Money. Also refer to earnings, wage, job, career, profession, savings, investment, stock, property, bank, spending, credit card, cash, interest, loan, budget, Ron Kurtus, School for Champions. Copyright © Restrictions
Answers to Readers' Questions on Finances:
General
The following 3 comments and questions have been sent in. They are listed according to date.
List of first 10 items
- Why are fuel prices still so high for consumers?
- How can you invest when making a small amount?
- How can I manage my money better?
Why are fuel prices still so high for consumers?
Question
December 14, 2008
The question is related to Economics:
Question: The fuel prices are going down internationally. but the benefit is not being shared by the consumers. why?
shahid - Pakistan
16951
Answer
Various countries have different rules concerning the amount of profit that can be made and selling gasoline and fuel.
In the United States, the price of gasoline has been cut in half from its previous high cost. This is because there are strict rules on the amount of profit allowed after expenses. But still, it doesn't mean that the corporations are not able to find ways around the rules.
Some countries allow prices to go on supply and demand, with little regulation. When the supply is low, the oil companies, distributors and fuel stations say they must raise their prices. But when the price of oil and gasoline is low, these companies may be slow in passing on the new prices to the consumers, unless there is sufficient competition to force them to do so.
Needless to say, suppliers often have an upper-hand over consumers, unless there is some government regulation.
How can you invest when making a small amount?
Question
February 27, 2008
If you are earning $300 per month and you are running a part time program in the institution,and you want to invest some of your money in stock, how will you be able to make it? Because it is necessary.
Dennis - USA
15447
Answer
It is advised to try to take 10% of your earnings and save it for investments, which can be stocks, mutual funds or real estate. But it is difficult to save anything if your income is barely enough to buy your food and housing. In such a case, you need to get a strategy to get a better job, get a raise in pay or work on a second job to allow you to save and invest. Otherwise, you will always be working for a small amount.
How can I manage my money better?
Question
December 8, 2007
How can i manage money in order to spend not more than 40,000 per month and mind that nowdays we have cellphone that costs and others.please may you show me the light about this?
Lonyori - Tanzania
14928
Answer
It is good to make a list of where you spend your money. List everything you can. Sometimes people don't realize that they spend money on too many little things, that add up and affect how much they have left.
You may be able to see areas where you can cut back or maybe eliminate. Some expenses may not be necessary. It is also good to look for areas that you can reduce the costs by hunting for bargains or better deals. Some people spend much too much on cellphone costs, because they use it more than they should or because they did not realize there are better deals available.
By setting up a budget that allows you to only spend a certain amount of money a week or a month, you can help to control your spending. If something is beyond your budget, you just don't buy it.
Note that you should try to budget your spending such that you can save 10% of your money a month. That may mean that you have to struggle for a while, but if you invest that 10% that you saved, you soon will have enough income to stop worrying about your money.
Summary
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