This is like taking a snapshot of our financial situation, to take stock of all the goods we possess, from resources that would normally get and the assets we have acquired and are likely to be converted into cash. Also consider all debts and commitments to make us owners of such property, this debt we are and therefore we should pay.

In preparing to do the following:

• Please note: your income, your savings, your living expenses and your debts.
• Prepare a list of your current assets and your debts.
• The amounts you spend on various items they give you a foundation for your financial planning.

Develop your financial goals

• Includes identifying how you feel about money and why you feel that way. The purpose is to differentiate your needs of your desires.
• The specific financial goals are vital to financial planning, from spending all your current income to develop a comprehensive program of saving and investing for your future financial security, to save as much as you can.
• Connect the contents of “basket”, “consumption”, “income”, “expenses”, “financial cost”, “saving” and “budget” with the reality of everyday life in the family. This is essential to have a clearer idea of ??what the goals which we seek.

Here we fall into a trap, because we can decide to err in any desire for any more than necessary, and this is related to our consumption habits.

Incorporate good habits of consumption.

1. Use the phone properly.
2 Find specials supermarkets to compare prices.
3. Keep receipts.
4. Use the coupons.
5. Buy foods with nutritional value.
6. Conserves energy.
7. Organize your clothes the night before.
8. Avoid credit card purchases.
9. Do not buy when you’re hungry.
10. Repaired when damaged belongings.
11. Avoid “between meals”.
12. Bring your lunch and snacks from home to college.
13. Do not let the pleasant pastimes oppressive they become habits.
14. Avoid buying things you do not need.
15. Do not have the cash.
16. Find out about additional scholarships you can apply.
17. Looking for a part-time employment or wages in college.
18. Learn to say I can not now those friends who spend selling things.

Pay your debts

Not only is the debt paid a guaranteed rate of return is one of the highest rates see profitability. Look at interest rates that are currently paying on the cards credit, auto loans, home loans and mortgages, and compare with rates of return are likely to see in other investments. In addition, leaving the debt will help shore up its financial position if they suffer job loss or other effects of the bad economy.

There are tons of ways you can reduce your expenses. If you are concerned for their financial well-being, it is absolutely necessary to reduce expenses. If your situation is safe and financial market housing or other real estate may now be the time to buy. House prices have fallen significantly in many parts of the country so if you are a qualified buyer, you may be in a great position to reach an agreement.

THE STOCK MARKET

Similarly, it could be a good time to take some bargains in the market values. You know the old saying: buy low, sell high. Jump when everyone else are jumping could be a smart move.

Differences, for example, expenditure or savings habits, which can lead to arguments or fights, which in turn can harm the relationship seriously.

And this does not happen and we handle the money issue as best as possible with our partner, here are some tips that will help take the finances with a friend:

Money Talk
The first tip is to put aside the idea that talking about money is evil, and speak openly about our partner.

It is advisable to schedule regular meetings, for example, every one to two weeks, where we talk openly about money, we plan our finances, and do a check on our progress.

Be honest
Speaking of money we need to be honest with your partner, it is clear exactly what our financial situation, what our income money and our spending habits.

We must be honest with your partner and tell what our salary, our investment income, our debts, expenses we are required to perform, our savings in the bank, etc.

Plan
Speaking of money must not only analyze the financial situation of each, but also to establish financial goals we want to achieve and the actions we will take to achieve those goals.

For example, we set a goal of buying a home, and it could determine that each allocated a certain amount or percentage of their income on a stock savings then help us to pay the initial fee.

Control
In our meetings we also programmed to control our financial progress.

For example, we assess whether we are meeting our financial targets, or if we need to make an effort to spend less so we can increase the amount allocated to the stock of savings that we have determined.

Develop a family budget
Having a family budget will help us plan better use of our money as well as greater control of our finances.

For example, will help us identify the areas where we may be spending unnecessarily, will help us take more control of our costs, and help us acquire the discipline required to meet as planned.

40 years the company plans to close about 200 of its 642 branches over the next two weeks. All stores will close will be of great dimension, said Borders spokeswoman Mary Davis. The company also operates Waldenbooks stores and Borders Express, both smaller format.

Borders ran out of capital resources

Mike Edwards, president of Borders Group Inc., said in a brief statement that the cautious customer spending, negotiations with publishers and other vendors and a lack of liquidity made it clear that Borders does not have the capital resources need to be a viable competitor. “

Borders said it plans to operate normally and respect the gift cards and loyal customer programs while it reorganizes.

$ 1.290 billion in debts

The company will receive $ 500 million in financing from GE Capital and others to help with the reorganization. Borders said in January that included filing for bankruptcy after receiving a conditional loan of $ 500 million of GE Capital that required securing alternative funding.

According to the petition filed in federal bankruptcy court in the Southern District of New York, Borders has until December 25 $ 1.280 billion in assets and $ 1.290 billion in debt.

Must be tens of millions of dollars to publishers, including $ 41.1 million at Penguin Putnam, $ 36.9 million to Hachette Book Group, $ 33.8 million to Simon & Schuster and $ 33.5 million to Random House.

An emergency fund is one of the pillars of financial security. In your family, an emergency fund can also be a source of inner peace and tranquility. When presented with a contingency, either an accident or an illness or an unexpected expense, have the resources to quickly resolve the difficulty is a vital issue.

What happens when it fails to provide for an emergency? Then one is forced to incur debts that can result in years of financial commitments and accrued interest.

How can you implement an emergency fund? The answer is through smart saving.

An alternative is to open a savings account for automatic deposits micro fixed. Ideally, set aside some amount for the emergency fund.

What is the ideal amount of an emergency fund? That depends on your income, but we could estimate how well supported the equivalent of three months of expenses.

Commit themselves to an emergency savings fund is a very difficult step to take. At first it may be tempting to draw on these funds. The discipline of saving is a virtue that is acquired gradually and is part of a broader financial education.

The first step in developing a budget is to determine where we spend the money. Once we become aware of how consumption is distributed, it is easier to decide which soften or cut costs.

The second step is to set a daily goal, a weekly goal, a monthly goal and an annual target of savings. We begin by calculating the daily and weekly savings because they are small quantities, and minimum quantities are much more manageable than annual or even monthly figures.

There is no more comforting feeling to be able to react with strength in an emergency. When you begin to enjoy the fruits of your savings, you have the strength to undertake other major financial activities.