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Individual Report Name: Course: Professor: Institution: City and State: Date: Individual Report This task has enabled me to acquire invaluable skills in money management. For the realization of a better result in any venture, regardless of whether it is a business venture or any other venture, there is a need to have a good management to steer the investment to success.
Money management is the process of being a custodian of one’s finances by knowing where today’s finances are being spent, and drawing a well thought out plan showing where one wants this money to go. Therefore, it calls for one to be well organized; have set goals, which would gear this investment to success; have a track of one’s spending by putting in place a realistic budget, and above all have a well thought-out savings strategy (Ryan and Deci 2004). Before this course, I was particularly naive and could not have understood how to effectively make an investment decision or understand the significance of making various investment considerations that I have learnt so far. Having known how to make various considerations that affect performance of an investment portfolio, I can now comfortably put up an investment plan (Milevsky 2001). One of the most important principles of investment I have learnt is how to diversify and manage risks. I have become conscious of the essence of the old adage goes “do not put all your eggs in the same basket”, I have realized how risky it can be to concentrate on a single or a few investments especially those whose rate of return is very high in the short-term but very risky. ...
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