Wednesday, 21 January 2015
Tuesday, 20 January 2015
5 smart tricks for managing family finances
Financial
freedom is very hard to earn especially when you have a limited income
source. We can it’s a dream of majority
people, some try to achieve it and some are still striving... it’s difficult
for me to recognize that where I fall, might
be in mid or may be nowhere in this category?
I was
experiencing that perplexed situation but when two days ago my budget got out
of control and my younger child was disturb due to nonpayment of hostel fee,
then I observed that I fell into the category of those people who are
continuously striving, and who are doing great efforts to make their financial
status stable. So after this, I thought to make strong family finance decisions
and decided to give a remarkable life style to my family.
1.
Properly calculate your expenditures:
If you really
want to escape from future difficulties, then I would suggest you to organize
yourself and behave peacefully so that you can successfully manage strong
financial status. So it’s very important to calculate your family expenditures.
In addition, track down how and where your income is going? And if something is
creating burden in your budget then cut it off immediately. And always make
sure, these decisions should not disturb your family intentions, because these
are your first priorities so provide them better.
2.
Make a room for unforeseen
expenditures:
After calculating
your current expenditures, everyone should consider and anticipate unforeseen
expenses. I agree that if you have a high paying job, then it would not be
difficult to save at least 25% for uncertain needs. But if your income is
limited and you can’t afford to manage everything successfully then you can
simply get instant fiscal aid that
provide quick support for unpredictable needs. Now many people are coming forward
to get superb financial freedom whether they are good or bad credited person.
3. Make insurance plans:
One more
suitable way is to manage finances by getting secured. It is beneficial enough
to save you from fears of immediate loss. So it’s advisable to insure all
family members regarding health, wealth, travel and life etc.
4.
Prefer reasonable emergency funds:
If you are
completely relying on your savings then it is awesome. But sometimes it happens
that someone pick the pockets in some crowded shopping mall, or people experienced
severe accident and they have no money for survival, then they can definitely
apply for reasonable emergency funds. It’s better to go online and search some
credit unions or find any online lending service which provides instant helps. We
can also sign up on any reliable site and can earn quick and hassle free service with least interest rate, and without
hidden charges. This is a golden opportunity for fighting out with severe
problems.
5.
Investment plans:
Efficient
investment plans are somewhat great income enhancers for enjoying trouble free
financial life. But one must be very careful in this regard, because no one can
provide any guarantee regarding money, you are solely caretaker of your
finances, so make thoughtful decisions while investing & protecting.
5 secrets to enjoy better financial life in US
United
States of America is a wonderful & ideal country which is consisted of 50
different states, which are also a third largest country by population and
fourth largest country by area. The country is consisted of multi-cultural
nations. The basic population of US is almost 320, 206,000. Its largest city is
New York which has fast & growing economy which is enabling people to establish
their own profitable businesses and wonderful opportunities to intend youth
population. So if you are wondering that how this country is much developed and
enjoying great economy then you must know the secrets hiding behind which come
along with this success. So if you really want to enjoy financial freedom and
great status then you should follow the below mentioned ideas.
1.
High Education- key to unlock success
Education is
a central pillar and a basic key to unlock success and happiness. This is not
even in US, but a must earned feature for every culture and society. But in US,
you can say that approximately 80% people are literate and at least able to
read, write & earn. But off-course a highly educated and qualified person
has more chances of victory and success. At least secondary & tertiary
degrees are considered must for everyone. So this is a very basic need to
brighten your career in US.
2.
Strive for jobs in early life phases:
There are
many people in US who strive to get good jobs early phases of life exactly
after secondary education completion. This is definitely quite appreciating if you
depend on your own earning hands. It is helpful in building your strong
character, and must provide a better support for future.
3.
Proficiency in multiple fields:
If you want
to enhance your careers, then I would suggest you to be proficient in multiple
fields of life like trade and other growing opportunities. There are numerous
technical institutions that offer wonderful chances to get knowledge of trade. But
if you love to work in multiple fields like decoration, event planning,
photography, plumbing, domestically expertise, catering, electrical fields then
you should get knowledge and apply for each course. These will helpful enough to twice your
income.
4.
Earn great financial literacy:
Financial
literacy is basically a term in which person make his self able to learn about
finance managements, and learn those strategies which equip to fight out with huge
fiscal troubles. It’s somewhat a sharp weapon which helps you in fighting out
with such great problems. So it’s very important to learn about financial
literacy, like many people in US depends upon few loan terms in great need like,
mortgage, auto loans, credit cards and many more. But now some people prefer to apply for user friendly lending process for
fulfilling great urgent needs. People consider it because it’s very easy to get
loan with least interest, but other services do not offer this privilege.
5.
Start a family business:
People in US
do not prefer to depend upon single income source. So they try to make
investments, and try to generate small scale side businesses. So this must be a
great opportunity for youth to establish their own business with family. By
doing this, they can tap expertise, seek knowledge and can build golden career
opportunities.
Monday, 19 January 2015
5 significant money concepts to teach your kids
The
cornerstone to enjoy perfect financial freedom is to learning some fundamental money
concepts. If you and your children are not aware about them then you I think
you have a perfect time to learn and develop these habits in your kid’s mind. Being
a financial expert, I always deliver speeches on significant money concepts
needed to develop in our children, but how? Who should develop these roles in
them? Off-course parents, if your parents are teaching you right financial
values then no reason your kids suffer in later stages.
So here is
some valuable money concepts need to develop in early ages so that your kids
enjoy ideal financial life.
1.
Budget: a central pillar to perfect fiscal
life
I know it’s
very difficult for parents to teach their kids about budgets. You don’t need to
open books and ask them to learn about financial life, you should be
practically teach them by openly declaring your needs like your mortgage
payments, credit card fee, kid’s school fee, domestic needs and so many
important things. You should teach them to divide their small pocket money and
how to use it on several other needs. You can do this by playing Monopoly, and
show how much money you earn every month. Then divide this money by making separate
corners for bills, fees, foods, payments and savings. Encourage him to make
suitable budget and save some money for charities, some for needs and some for
fun.
2.
Save for hard times:
I have seen
many people who don’t concentrate on enough savings and tend to consume money
on unessential needs. If parents will adopt these habits, then it’s definitely transfer
to their children and they will do the same. So parents should make their self
a role model, teach them to save money for rainy days, for sick days and for
sudden plans. And unfortunately they did not save for these reasons, and then
try to teach those alternatives like if they are above 18 years then they can
successfully apply for safe & secure services with least interest. In this way they can save their self form strenuous times
and definitely from much embarrassment.
3.
Develop love for hard work:
Those parents,
who teach their children to not work and enjoy life with luxuries, are definitely
spoiling their kids and their future. If you are enjoying stable financial life
then it doesn't mean that you develop some lazy habits in your children, in
fact you should develop love and careful perception in them so that they learn
to love with their work, and start earning in even young days. By doing this,
they will make their future somewhat better and stable.
4.
Emergency funding:
Emergency funding
is another way which saves you from enough worries. if you don’t have enough
savings for travelling to any essential event or giving birthday gifts then try to apply for a loan that is helpful enough to cover urgent needs. So teach your kids about them
properly so that they can make their lives better :)
5.
Short & long term savings:
Teach them the benefits of short & long
term savings. Like if they want their own cell phone, then ask them to save
money in a jar and don’t consume your dollars on unessential hang-outs and
movie tickets, instead put them in a jar and after sometime you might be able
to buy the items of your choice.
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