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Sunday, September 4, 2011

Financial Management (1)

For some others, they are always overcome in search of more income, financial problems. Financial experts say that the financial problems to solve related to consciousness, where resources and money and the willingness to make informed decisions. Therefore, the solution of financial problems must be overcome to create a budget.

Prepare a budget
Creating a budget is not hard to learn. One is a list of income and expenditure to do list. Then no more spending than income, as the saying goes that high ankle poles. Through the budget will make your life more enjoyable and rewarding. What can you enter into the budget?

You must first make a list of recipes. As a rule, that will go on this list, wage, interest rate savings accounts, interest on deposits and so on. Record only the regular income you receive each month.

Avoid entering an uncertain income or non-routine within your budget. Some income is uncertain such as overtime, bonuses, awards, commissions, even if THR. Financial advisers warn that planning based on uncertain sources of income that can keep you in debt. However, if you get a turnover on the occasion is uncertain, such as overtime or bonuses, you can choose to use the money for example, to yourself and your family to deal with travel, or gift.

List of expenditures are not as simple as a list of recipes. It could be that you record all expenditures to the financial waste that occurs to see try. However, you should get a list of monthly expenses if your spending habits. Some important things that need to be present in the list of issues, such as basic needs. These include food, shelter and clothing.

Do not forget to include regular expenses such as costs for a quarterly, annual average, annual and other regular expenses. Examples of the payment of insurance, road tax or income tax. However, to put it in the monthly list, you must divide this amount by the appropriate number of months.

Then, for each invoice, weights or priorities. If you find that you spend the amount is greater than or equal to the income, then you can delay or exclude certain expenses you listed. It would be very useful if all costs, the share weighting the absolute necessity of the needs of the doubt, or would simply like a luxury. This can be useful if your income is reduced at any time due to changing circumstances. You can quickly get rid of some who still doubt the necessity or a luxury only.

But one of the largest in the list of expenses, the savings. Though many people to save not to think as an expense, it is advisable if you have some budget of your monthly income for emergencies or for special purposes. At least one should set aside 5 percent of your income was taxed for the recording. If not, you have to do the difficult phases. Get rid of credit in use, you change your lifestyle and consider your basic needs. Try to include savings in your monthly budget.
Your success in achieving your budget depends largely on the realism of the budget. The idea is that the list reflects your personality and your choice but always realistic. When you create a budget is too small and not able to meet their household do not work within a month, then surely everything you've built.

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