Deciml App

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Personal Finance Dos & Don'ts Ft. The Office

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This is probably how it often feels when you’re thinking about finance and managing finances.

Things make so little sense that you literally can’t think straight! We wanted to see if we could take some help from the Dunder Mifflin employees and learn a little something from their wise words.

Here’s what we could infer – 

1. Don’t –

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Don’t run away from your problems! Financial responsibility today will translate into financial stability tomorrow.

Instead, dive into it and start appreciating the more fun aspects of finance, savings, and investments. Make it a personal challenge to invest routinely.

In fact, micro-investing (like with Deciml App!) can be quite helpful in allowing you to be consistent, no matter how little you want to invest. Just remember that the sooner you start, the more you can benefit from the power of compounding.

(Bonus insight: Here’s what your year could look like if you start investing with Deciml today vs. next week vs. next month. No need to run away from your responsibilities with this perspective!) Start reading up on the various options out there, and narrow down what catches your eye – the sooner you start the less you’ll want (and need) to look for that departing train!

2. Do –

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Solid advice, no matter the occasion. The good part about this Schrute classic is that it does illustrate introspection. And your financial planning demands it too.

How much are you making?
How much are you spending?
How much are you saving?
How much are you investing?

These are some of the other questions you can ask to take stock of your personal finances in addition to the idiot thing! 

3. Don’t–

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This is only a negative in our book because we at Deciml are quite fond of mini-anything. Cupcakes or investments *Cough* Micro-investing! *Cough* No matter how mini – a cake is still a cake (and an investment is still an investment!).

4. Do –

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A great first step! When you are not understanding something about the world of finance, admitting that gap in knowledge is the first right step to take. The next step should be #5.


5. Do –

 

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Find the persons who can help you understand, and be relentless in your pursuit of answers – because those answers can be the difference between good and bad financial decisions.

Can you think of anything? Anyone? Something that can simplify finance and explain it to you? Does someone come to mind? (Are we being obvious enough? It’s us! Deciml! Start here.)

But make sure your sources are sharing validated information (which we are!) and can help you actually understand what investment options best suit your financial goals.

6. Don’t –

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Just… No. Not for your finances, not for anything else.

 

7. Do –

 

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Trying can sometimes be exhausting because you don’t know if your efforts will yield the outcomes you want.

And while that remains the case in a lot of investment options out there (the stock market, for instance), there are also a number of investment opportunities that only require you to be consistent, and you can be almost certain your ‘try’ won’t be wasted.

Look, we won’t deny that the market has its ups and downs which can be scary to navigate because it can be inherently risky. Don’t let this stop you from trying though.

Do your research and find out more about low-risk investing options, and start consistent investments through some such options as step one.

Once your foot is through the door, and as you understand more about the market and its fluctuations, you will be able to diversify your financial portfolio. 

Mutual Funds and SIPs are great places if it’s your first try (and so is something like Round-Up investing through Deciml, BTW!).

 

8. Do –

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There’s no real takeaway here… Just… Same, Kev. Same. Oh! And read about FIRE.


9. Don’t –

 

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We love a lot of versions of Michael Scott, but don’t be this one. If you are setting a financial goal for yourself, be sure that you are taking actionable steps toward that goal.

Start the very second you set a goal. You can start with something as simple as Deciml Daily Deposits to let compounding work its magic. Then you can reach a point where you have earned returns and can start investing bigger lump sums.

This is how your money will work for you, grow, and allow you to actualize your financial objectives and important life milestones.

That’s all we’ve got from Scranton, PA.

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