3 Tips To Finance Salaries Set

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How to manage your salary to be effective. You need to manage it properly..It could be because the salaries are not able to cover all the needs or it could be because you are not able to manage it properly. In order for the family's financial security, there is a good start to learn to manage earnings.

These are the three steps of good financial management. Listen, are the steps:
1 Set a financial management system
Financial system that you normally do in a family. If all income is used for living expenses, so that at the end of the month are not left out any alias, then you are categorized as poor.
But if your income, in addition to life can still buy consumer goods such as electronics, clothing, shoes and more, you get a mediocre class or middle class.
Well, you get rich in an income category, but used to live on, still can be used to purchase the property as well as productive. Productive costs in the form of savings, insurance, mutual funds, gold, deposit of shares, and other businesses that could add to revenues. '' So, wealth is not determined by the amount of income a person, but of how much productive property that you own.
2. Five elements 'property'
Wealth itself is composed of five elements, which must have income coming in, expenses can be paid every month, has cash reserves, there are outposts of investment, and protection (insurance).
For the income coming in, many of which can be extracted in addition to the post of the monthly salary. For example, the sale and purchase of goods, selling skills, business, MLM, profit-sharing investments, fixed income investments, buying and selling investment products (stocks).
For expenditures that could be paid off every month, a man who studied the family finances of this self-taught to distinguish between needs and wants. Needs to be now, there is a limit, while the desire is not necessarily required and no limit.
Therefore, the need to prioritize which ones should be removed first. The first to be issued is that there is charity and spending it is due, for example pay telephone, electricity, water. After that spending for needs such as food. Third expenditure by the desire to relate to that desire.
What about cash deposits? You must have cash deposits for three to six months. as a handle if something happens, should be noted that deposits a husband and wife do together, but each must have its own.
Note also posts the preparation of future investment. Instead, prepare all of the post investment that you can get started school children, retirement homes, private vehicles, the business until the pilgrimage. Nothing wrong with knowing your investment products, the monthly savings or all at once.
The last must-have is protection. Have any insurance, from health, life, loss, .If your office already bore a particular insurance, not your problem any more insurance to individuals.

3. Be careful with debt
 
Debt to be one cause of financial problems. If you want trapped in debt, pick who will owe. Choose a party that allows the negotiation can be done if you are late paying the debt.
For those of you who will take the credit needs to consider the following tips. Take credit not more than 30 percent of income. Had more than 30 percent should be renegotiated, so that repayments can be reduced.

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Financial Management Tips For Your Family

financial management

Here are simple tips on managing the family finances are often given by the family's financial planner.

1. First of all invite other family members to work together to create a list of needs for a month.
2. Conduct a thorough analysis and then do the separation which is nice to have and which ones are the needs (needs that can not be avoided).
3. If you already owe a mortgage that exceeds 20 percent of total income (income) families. So should you need to talk with creditors to reschedule debt. If not possible, then seek a loan with a lower interest rate to pay off high-interest debt. Remember, as long as your payments are equal to or greater than 20 percent, you should not make a purchase loan or debt again.
4. Separate 40 percent for daily necessities. If 40 percent of income is not enough, think creatively what else can be saved; for example saving electricity usage, changing the combination of the daily diet.

5. Separate 20 percent for personal needs.

6. The discipline to save 20 percent. To be deposited into a savings account at the beginning of the month, not later than 1 x 24 hours after the income is received. If you do not have to repay the debt, it can be saved and can be used when it has enough to buy something that includes nice to have.

7. Should have to uphold the commitment and attitude consistency.

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