Harnek Kang is an important member of the business community in Sheffield, UK. Originally from Derby, he has built his reputation according to strict standards of honesty and integrity. His experience with building, developing, and managing commercial properties makes him a valued resource in this area. Kang is also a charitable donor, sharing his profits with many deserving agencies in Sheffield and around the country.His belief in community service drives his daily life.
When he is not at work, Harnick Kang enjoys outdoor activities like sports and fitness. He believes that everyone should make the effort to be physically active. He encourages his friends and business associates to join him in watching and playing sports like football, basketball, and swimming. He is dedicated to a healthy lifestyle. He also enjoys going on weekend trips with friends and family, seeing all that the UK and neighboring countries have to offer.
Kang encourages his friends and business associates to manage their money wisely. His expertise in money matters makes him an important role model. In this interview, Harnek Kang shares his top tips for managing your personal finances with care and forethought.
What do you believe is the biggest mistake people make with their personal finances?
The biggest mistake people make is allowing their accounts to be past due. There are needless fees associated with late payments. These can also damage your credit report, making it more difficult for you to borrow money when you need it. It could affect your ability to buy a home or a car. Make sure that you keep on top of all the due dates for your payments. It’s possible to pay bills online through your bank. Many people do this to keep themselves organized.
Do you have any advice for people who are trying to set a personal budget?
It’s a great idea to set a personal budget. This will help you keep your spending on target. First, make a study of your monthly spending and your bills, and draw up the amount of money you spend in each category. You will probably see the opportunities to save money by trimming certain areas of your budget, like impulse spending and dining out.
There are many great budgeting apps on the market, including Mint. You can painlessly put in your information and let the apps help you get organized.
What investment advice would you give to beginners?
First, I would tell beginners that it’s never too late to start. There are many short-term and low-risk investments out there. Ideally, you should start investing when you are just out of university. This will give your money the longest possible time to multiply itself before you reach retirement age. Make sure to balance your investments with a mix of higher-risk investments like stocks and lower-risk investments like bonds. Real estate is also a great thing to invest in. It has a high rate of return over time. You can purchase real estate investment trusts or REITs if you don’t want to put your money into individual buildings.
How would you suggest that a person get the money together to start investing?
It’s easiest to divert a portion of your paycheck to investments each month. When you set a specific amount and keep it away from your daily expense money, you will be able to invest painlessly. Make sure that you come up with a plan to have cash savings as well as investments. Cash savings mean that you will be able to cover any emergency expenses that come up in your life, like a car accident or a health emergency.