The Perfect Gentleman Issue 2 - April 2016 | Page 26

Financial Gentleman

By Bobby Bhuiyan

In life, we have many things to juggle; we
start very young educating ourselves with
the mind-set that one day we will be
involved in some type of work, which will
suit our skill sets, this work can involve
social/voluntary work as well as high profile
employed roles. Whatever you feel suits
your lifestyle, dreams, and aspirations in
life.
Regardless of where you are in the cycle of
life we all have one thing in common; we all
want to have the essentials in life, the basics.
Without solid foundations, we cannot build
our lives and move forward.
Essentially, for our primary needs we must
be able to make sure we meet all of our
daily/weekly/monthly obligations. Having a
short fall in your income can lead to higher
unsecured borrowing, which can lead to
high interest payments, and hence placing

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you in a bad financial spot. Hence good cash
flow management helps you maintain your
finances, one tip I learned, open separate
accounts for specific areas, such as an
account for all essential bills, holidays,
savings, and any other area you feel is
important to allocate your disposable
income.
When arranging to pay for your essential
bills, using direct debts can be very useful,
not only does it allow you to pay your bills
on time but it also allows you to build up
your credit, showing others you are a good
and responsible individual.
Missing direct debts or any kind of regular
credit compliment on a regular basis
however will show to various institutions
that you are not the type of individual that
keeps up with their obligations.