Financial Safety Advice

After more than four years of crisis, many households will see them and want to keep your family finances afloat. Payment of the mortgage , bills, day care of children … there are many obligations. The domestic economy worries us.
The fear of facing a situation of financial hardship is something that affects many people, especially in times of crisis which we live.

That is why now more than ever we need to tie in to cut expenses and analyze the situation of our personal finances to budget our expenses. In the case of those lucky families who have sufficient financial capacity to cover their costs and generate savings every month, should immediately include in their monthly budget amount of money to build a savings fund for contingencies .

A health problem, a breakdown, pours a fine … the unexpected expenses that can occur are numerous. The first question to be one, is, could bear the extra expense without recourse to financing or other dip into savings for other purposes. To avoid losing control over our personal finances, we must accumulate a capital equivalent to at least basic expenses for 6 months.

If you have a previously saved capital, we can allocate a portion to begin with and forced to separate small amounts every month to complete. In the event that starts from zero, the monthly savings amount will depend on regular income payments and planning to have . No monthly expenses are equal, but always try to meet a fixed constant. The goal is to reach as soon as some financial security through savings.

Another important point to refine the characteristics that must have the form of savings chosen for that contingency savings fund.

Since this is money that we may need at any time, that money must be invested in a liquid product .

On the other hand, since it is a regular savings, how savings should be flexible and able to add the monthly amounts will get save.

It is capital to provide financial security in an emergency, you should not put that risk savings products. Since this money we will assume a zero or very low risk and have a preference for liquidity, profitability target is at most of the inflation . This will avoid losing purchasing power in the capital saved.

The investment options that best fit these characteristics, are the savings plans, paid accounts and money market funds or treasury . It is not advisable to keep cash at home or safe deposit boxes.

Should be checked every so often the family budget, and planning expenses for payment may vary and the amount of savings would require an adjustment.

There are many domestic accounting freeware that can help us have a more exhaustive control of personal finances. Easy cash money for download or some online applications such as Contamoney are some options. However a simple Excel sheet can suffice. If Excel with ease manege I recommend this to -Excel Templates Artemio completely free.