Financial planning


Try to refer to some questions below, then you try to review some of explanation of the solution. This is not a question that will take you to a kind of MLM business, but this is a question that you should not answer with yes or no answer. OK try you refer!

Do you feel every month salary received in recent days have gone to pay routine bills?Are you including those that are difficult to save even relatively decent income?

Do you have a desire to purchase an item but constrained by the current financial condition?

Or are you one of those who have 5, 6, or even 10 credit cards and do not know how to pay it off?

If you answered yes to one of the questions above, then the following notes may need to be listened to.

Many people work and earn income to support his family but always felt less and less. Every day preoccupied with thoughts of coming here and there bills and payday wishing to stay a few days away. Even after the pay-day money-awaited arrival was soon discharged for various posts are queued settled.

The interesting thing is, the above conditions were not only experienced by those on low incomes. Even many well-paid tens of millions of people would never be able to save properly or even always difficult to settle their own credit card bills.

Then, what is wrong in this? The answer is lack of planning. Without a plan, the costs become uncontrollable and unpredictable. Large income seems to be small so that we gradually lose their gratitude for the sustenance provided by God.

Now, let us begin to learn how to plan financially. In simple terms this means that by making a plan how your income is managed for various purposes both in the past, present and future. The past means associated with the actions you perform without pay expenses in full or in debt. Today is preparing routine budget and ensure expenses are not greater than the revenue. The future is making plans to meet an expenditure that will occur in the future, could the next few months or even years.

This process will be done well when you:

* Knowing your financial situation in general and Its Problems
* Calculate how much debt you have and begin to pay it off regularly
* Identify the spending patterns of routine daily, monthly, and yearly so that it can make shopping plan (budgeting) is appropriate
* Start saving regularly periodic
* Develop a plan for spending a few years into the future and make preparations to fulfill

Then how simple steps to get started? Here I give some tips you can do.
1. Begin to record all expenses, no matter how big or small.

Most people never recorded what he purchased and consumed. As a result, people often feel surprised koq money very quickly evaporate. With record spending indirectly you will train awareness of how much actual money has been spent. Registration also helps to know the frequency of expenditure for a particular post and distinguish which ones including the needs and which are just sheer desire.
2. Identification of routine monthly and annual expenditures

Any person or family usually have similar spending patterns from month to month, including from year to year. Once you have a record of expenses, try to see what becomes of your regular expenditure and how the frequency. Consider whether every month you have to spend two hundred thousand for infant milk, three hundred thousand more to buy gasoline, twenty thousand to buy tea by the roadside, and so on.

Observe also the pattern of six-monthly, annual, biennial, and so on. Try careful how you spend every August to renew vehicle registration of vehicles, tuition must be paid each January and July, rented a house to be paid in March every two years, and so on.
3. Expenditure plan (budgeting)

After knowing what you usually spend, now began to make budget at the beginning of the month for the current month expenses. More okay again if you can compile directly to a year ahead.

Determine what the needs and desires but not specify how much is reasonable and fair to be issued. Make sure all smaller than your income.

Do not forget in this section also enter how much money you set aside for savings. Believe me, if you do not, there will be no rest at the end of the month to set aside.

Also note or installment loans you have, set in the budget so that your debt will be paid off regularly.

Well, it turns out a lot yes and maybe if Terliht amount exceeds your income. If this happens, it's time you considered what priority and what is not. You may need to reduce the budget to go to the movies in theaters, reducing the frequency of dining outside the home, buying new clothes or shoes and others.
4. Saving periodically

Large revenues did not guarantee a person can set aside money for savings or not. Many who have a salary of tens of millions, but only a few hundred thousand left over for savings, even sometimes still a minus. While others have limited incomes but can still be set aside for savings, although not much.

Saving money is best done as soon as you get a refund. So that's payday arrived, according to a plan that has been made, immediately save a certain amount for savings. To be safe, separate bank accounts for savings and if necessary should not be made an ATM so you're not tempted to take it back.
5. Planning for the future

There may have special needs or plan the next two years, then the craft. If 2 more years your child will enter elementary school, then estimate the amount of expenditure required and set aside every month so as to achieve sufficient quantities when the time comes. Maybe you need a recreation with family, then specify how much money is needed and prepare from now on D-day so you do not need to look for other sources, enough of the funds that had been prepared far in advance.

How, easy right? Hopefully the above explanation can help you to have better financial planning so as not to be enslaved by money, but you were in control to use the money wisely, fairly and in place.

Please see my other posts that will discuss more details about the principles and practice of financial planning, based on the information I get from various sources and of course personal experience in running it.

already satisfied you read various solutions and tips? if you are not satisfied, would I conclude from the description above, and the conclusion is: if you want to be rich you must be frugal and your financial well-planned! just really busy!

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