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@indiaunited/indiaunited-new-contest-and-last-e56ac4e00f99a
We are going to share our thoughts and practical experiences on managing finances. Some people are good at managing finances while others cannot. Some know when to invest in any business which they are doing while others do not know. A lot under the concept of budgeting and goal setting in their financial life. But there are a lot who do understand some of these economic principles. I studied physics and geography so I might not have much knowledge about economics. But I explore my own methods of making income.
In my own practical way, I manage my business. I am a leather Craftsman. So, invest any money I have in the business. I build the business and take out whatever proceeds come out at any time that we need to take money for family use. After that, I keep investing the little incomes that enter my hands into the business. This practice takes different forms. Sometimes, I can get to the market and buy some raw materials and stock in the workshop for productions. Some other times, I can repair the equipment which we are using in the workshop.
My business has seasons of high demand and seasons when there is no demand. During those season when there are high demands, contracts will troop in for productions of different kinds of leather bags. During school resumption, we have much work to do and business is good then. People patronize us then for school bags and launch packs. Different schools also contact us for backpacks for their pupils. Money flows into our hand then and we use it to solve personal needs and to plough the leftovers into the business.