Everything you need to know about financial planning
Most everyone has had a dream frustrated because they can’t afford it, and many blame it on their salaries, say they don’t get enough, that they should look for another paying job. better, etc. But is it about improving your income or making better use of your money? Do you receive little or don’t make good use of your money?
What is good financial planning and how to do it
Good financial planning of your income and that of your family can be the key to achieving your dreams. It may sound silly, but it’s true. Knowing how to manage your capital well, with focus and determination, can achieve your dreams. Check out eight tips for carrying out your home financial planning
Set your goal and deadline to reach it
The first step is to define your goal well. Be very precise: do you want to change cars? What model? Which year? What’s your prize in the market? If you want to travel, where are you going to travel? Where will you stay? These details help you get a good sense of how much you need to save to realize your dream. Is it also good to have some flexibility as to your purpose if you can’t get the car you want, have some other car, or have somewhere else to travel?
Also set a deadline to reach your goal, one that is really achievable, no use thinking you will be able to raise money to buy a beach house in just a month.
Break your goal into goals
Try to segment, put steps from where you are until you reach your goal, for example, you want to buy a $ 50,000 car in five years, so every year you need to accumulate $ 10,000 .00. Each year is a step in your plan, and have strict control to see if your plans are running the wrong way.
Register and save everything!
It is very important to have a good track of your expenses and income. Know exactly how much you earn (if you have a supplementary income) and how much you spend. Even small everyday expenses can have a big impact in the long run. Want an example? Let’s say you have the habit of having breakfast at the bakery, an expense of about $ 3.50 five days a week. In one week it’s $ 17.50, in one month $ 70.00 and in one year it’s $ 840.00! A habit that could change could be much more profitable, wouldn’t it?
Adopt an expense spreadsheet
It is not difficult to manage your daily expenses, there are many applications that help in this task. Or if you don’t have a smartphone you can use spreadsheets in Excel yourself, there are many templates available on the internet. Or if you prefer to use a good old notebook, you might as well, the important thing is to have a proper control of your spending. If you want something more automatic, use the Bank Guide : the tool automatically organizes your data by accessing your internet banking.
Know how to take control of yourself when you are in a supermarket, or at a mall, always before you buy something, ask yourself “Do I really need this?” cheaper to that?
Avoid wasting water and light in your home, with TV turned on, light on for no reason, leaky faucet, long hot baths. It is a measure that is good for your pocket and for the planet.
Adopt the 50-15-35 Rule
Rule 50-15-35 is a way of guiding how much to set aside for certain expenses. In this case, the measure means to reserve 50% of your monthly income with the payment of house bills, such as electricity, water, telephone, rent, among others. 15% for savings and 35% for personal expenses such as fitness, shopping, and more.
And so? Did you like the tips? Do you have any other tips you would like to comment on? So don’t forget to leave your comment!