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.

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Having personal finances sorted, it is always a necessity for everyone.
Many times, personal finances are not exactly a very tidy, which means that many live with a cost structure that can be chaotic. But this can not be permanent, as it will only lead to a path of debt and expenditure on aspects perfectly cut. This means that personal finance should be ordered, allowing us to have clear accounts, to have a good time in the present and future alone.

In the event that you are in the case of a cost structure that exceeds your income so loose, you must have to do something similar to a policy shock, similar to economic adjustments so in vogue these days.

The first point of this program sort of personal finance is something that would even common sense, but often is not: stop spending more than you earn. This phenomenon is more common than it seems, given the numerous incentives to spend around the individual, but spending at all, will end only with work to pay the debts. Like any plan of adjustment, it is recommended that can put together a budget, to be clear how much money, how much money does it take to daily spending and how much you have to occupy to pay debts and loans. In establishing the fee structure may be clear what you need to pay and consume a budget.

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In my personal finance class on Tuesday one student told me that one of the recommended books to read, “Total Transformation of Your Money” by Dave Ramsey , said that it was necessary for checkbooks and savings accounts are linked, but something that I recommended to them is that they did so. I thought this is a very important point about the ability to save.

Why not have the ideal savings and checking accounts linked?

The fact of the matter is that a check in an account with many needs. The account is always in need, need, need, and not allow the savings account can see your money grow. Although you may have a savings account and checkbooks linked, it is best to understand that this link is only for emergencies because there is always temporary, but a facility to transfer funds in order to ensure that you save as much as possible, you should have a separate account where it is a little more difficult to access these funds. The needs and your checkbook compulsive buying may not touch your savings plans

Use the automatic direct deposit savings

Many companies allow people to transfer their salary to more than one account to deposit your checks. You can use this tool to make sure you save your long-term savings, and that will give you financial freedom, do not have to even see for a second current account. Choose one percent of which you know you can do without, and always save with a purpose for which it motivates you to achieve your goals.

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The most important part of our lives is strategies for managing personal finances. With lots of information on the web, with a management program staff sometimes is difficult to fix things and know exactly where to start and what to do.

We can look at other successful people and think they were born with management skills finance. However, it is crucial to understanding the rich people set a great example for us.

In order to obtain and develop our own skills, financial management, we must act on our own. it is easy to reach a conclusion that both the management of positive and negative personal finance has its roots in the way that the person was raised and what he or she was taught about money management in general. But do not take it too deeply, it is important for us to look at people who are constantly looking for ways to make their lives better of your financial situation. What are these people?

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In most cases the personal finances are not as personal, are family finances. The Financial Planning in the home is crucial to the household finances are managed in such a way that the productivity of money at home benefit from the best possible way each family member.

Today I will teach you to plan the Home Finance for the whole family involved and so you can double the productivity of household income

In many homes to talk about money is taboo meaningless, is associated with the money as bad but still feel that while “money is a necessary evil”, I do not think this is so, money will always what you want to be and for this reason, talking about money in my home is not a taboo and even less when I have the possibility to establish a habit that will educate my family financially. 

The best way to take forward the Finance Home is integrating the whole family and to achieve this is to do what I call as “Family Reunion Financial Planning ”

• Family Reunion Financial Planning is an instance where the whole family gets together to address their needs and establish goals and plans for managing money during the month.
• This meeting is the budget of expenses and responsibilities are delegated to each member of the family to do during the month.
• This meeting should be made 1 time per month, ideally the same day or next day from receipt of income or payment of salary.
• Family Reunion Financial Planning should not last more than 45 min. 1 hour and I recommend that each month a family member take turns leading the meeting
• Family Reunion Financial Planning is an instance conducive to educate not only financially but also is an opportunity to teach them to manage, organize, have goals, objectives and responsibilities