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Monday, September 5, 2011

Financial Management (3)

Keeping it safe Finance

Create a budget and take seriously need to get out of debt. Once your credit card debt and other current liabilities that are not an investment, then you can start trying some of the following practical steps:

Reserve money
Always good for a financial reserve of at least six months of income. This reserve could be a savings or other financial investments, which are levied at any time if needed immediately.

In case the situation changes, for example, which fired one, then you have sufficient funds for at least six months while you apply for new positions. Conversely, if you get a raise, tabunglah half of the wage increase.

Large debts
If you want to invest, so try to carefully calculate the mortgage. Debt payments can not exceed 30 percent of men content.

If you have a spouse who works full, simply counting the debts of the husband's income alone. Then in the budget that you created to assess whether it was useful for entering the debt or loan.

You can significantly reduce borrowing costs by paying a higher down payment. But you should be saving for that far in advance to schedule it in your family. Low cost may mean the burden of lower borrowing costs.

Communication in the family
Another success factor for running a financial planning is good communication between family members.Development and implementation of the budget may be the only tool that can be overcome financial problems.

Avoid debt, and if you already have credit card debt to pay immediately. You have always set aside funds to save and invest. How to overcome your financial problems.

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