Global Business Media

Posts Tagged ‘Saving’

The Trick To The Salary’s Always Exhausted

monthly salaries often runs out Flustered  even still mid we’ve cried out salaries. You may quibble if everything is all expensive and the salary is not enough to finance the monthly expenses.

 wait first, lest all that because you are good in managing your finances and it could be also affected your lifestyle that is wasteful. In fact, if you remember before your salary is smaller than right now anyway enough-just enough.

In order for this custom is not continuous and is detrimental to you, here are some tips for managing your salary:

 don’t wait rest

Most people save when the remaining salary nearly depleted, this thinking is wrong. Now begin to set aside your salary according to ability to savings. You can open a new account without using ATM or join the savings program that is in almost recant every bank.

Budgeting is a necessity

Every beginning of the month, you must create a neat so that thy sending forth are budgeting can be controlled. Separate obligations such as debt and repayments. For the insurance and savings should also have its own parsimony

Discipline in financial planning

If you’ve been planning finance then you should be disciplined. If the ration for fun is up do not impose themselves take a portion of the other expenditure headings.

Shopping fit capability

 according to the money you got this month, not based on how money or bonus that you would get at a later date. Remember, do not spend money for purposes not important and hope will get extra money afterwards.

Limit the use of credit cards

Do not have more than two credit cards in your wallet if you were not able to control their use. Use credit cards wisely so that you are not overburdened while paying for them. As all credit card payments and other debt, as soon as your salary in. ..

Do not underestimate a dime

You would often receive a refund for the convenience or after eating at the restaurant. to store it in a special wallet, a dime for this you can use to pay for parking, so you buy or it could be used to buy small unexpected needs.

Create a reserve fund

Reserve Fund this important to anticipate unexpected necessities such as open, buy gifts or just replace your car tires are damaged.

Investment
Invest your salary with the following insurance, mutual fund or deposit money to play that can be drawn according to the agreement. This is just the same way as you are saving discipline.

So here the long-term financial objectives is owned by a fraction of a variety of savings goals that must be done every month short-term-up to achieve that goal.

So do not just declare a long-term goals, but note also the short-term savings goals that can be done.

Income and Wealth

No one has become rich just because the big income. Wealth becomes apparent when you save or set aside money every month and invest it. Many people think, in our opinion less logical “If only  more then all the circumstances will be better”. The reality is, with rising incomes will always be coupled with rising standards of living or lifestyle. So you would still need almost all of the monthly income that you get with hard work. In fact, if the individual or family plan failed savings-saving goals, then they will only add to his debt.

When you get a promotion to the standard of living then you have to buy new cars more presenting your position. New car loan. debt. Then, you think the position now then I have to buy a nicer house. With the mindset and habits like this, it is difficult to achieve what is desired, ie wealth or welfare of the future.

It is not true if you think that wealth will come by itself because you have a large income and still maintain your financial behavior. You have to change for the better and more responsible.

Believe us, to achieve wealth or welfare, do not spend all your monthly income, set aside and invest for the future. So if you want to be rich (in terms of material) in the future, two things and only two things you should first change and improve, change your attitude toward money or changes in yourself. Second, increase the percentage of savings compared to total income.

Discount versus Save

We try to provide examples of where actually buy something with a discount not necessarily save money or save money. Big malls around Jakarta often times give a party weekend sale or discount, where the mall is for a certain period to give discounts could reach 70 percent of the regular price for a variety of goods available. Many people who come and of course want to take advantage of this discount party. After their shopping, they say, “we save Rp 200,000 to buy this bag! The price is only Rp 500,000. But do they really save USD 200,000?

Strategies for Saving

The trick to saving money is knowing how and make it a habit. There are many ways a more or less we’ve brought in some previous articles in order to achieve the goals that exist.

One important thing to note is that you make saving a priority.

Systematic saving

Now is you should start to save. Many people fail to do and still save money because they impose themselves by reducing the needs of every month. They cut a little spending here and there. While it is still doing that they can only set aside a little each month.

Maybe it is better if you change the scenario of saving. When you learn to pay others first instead of yourself. You pay when you buy a baker of bread, you pay your subscription barber if you finish styling your hair. But the question, when you pay for yourself?

So already  you pay for yourself before you pay for someone else.

In our opinion, there is a way where you can pay for yourself, by setting aside 10 percent of revenue n each month in advance. Do after you use it for a month or what’s left, but you have to put it aside in advance.

With a minimum of 10 percent that you paid for yourself, then you will keep laying golden goose that will make you rich. And with the rest of the 90 percent you use to pay for someone else. You will not feel any significant change to the level of your life.

With 10 percent that you set aside, you will maintain a goose laying golden. But with an absolute requirement that must be held, do not ever take away from the funds you set aside 10 percent every month for the future. With 10 percent that you set aside each month will make you wealthy in the future, when retirement comes.

Leveraging debt (credit card) wisely. Credit or debt can be used to benefit the family but on the other hand is also very dangerous. Knowing when it is appropriate and wise to use credit become indispensable.

Debt will always follow the changes in the lives we live. But the debt is taken to be in line with future goals you have set. For example, mortgages or home ownership debt. When according to the needs and financial goals then this is a wise decision. But dig a hole by using credit cards to meet the lifestyle that you can not meet will be very dangerous for the family’s financial future. Look carefully at this before you owe.

Stop blocking your financial freedom, do not continuously drain the savings of the future. Debt is the enemy number one who rob dream of many people and most people are completely helpless with debt. Therefore, now is the time to eliminate them.

The mistake that often happens when debt is, taking too much debt, and used for the wrong purposes. Because the debt of so deplete savings, preservation of his property and dug a hole action vent cap from one credit card to another credit card just to be used to meet daily needs.

One might think, just because the bank or credit card company willing to provide loans, they will then necessarily be able to pay the loan back. People get too focused on the amount of monthly payment or interest rate loan instead of realizing that debt is like a cancer that could undermine their financial health conditions. The person paying the interest payable from time to time, which of course will only enrich the banks and credit card companies, on the contrary more and unwittingly make us poor. It’s as well, we still wonder why it always runs out of money.

Here are three types of management where you can choose according to your wishes with your partner. Of course there are many more existing management patterns. The most important thing here is the mutual openness and family life with a shared responsibility.

1. Money together and Envelope System

Combined income of husband and wife live together. After that, a combination of both direct revenue is allocated to routine expenditure items which have been calculated first. Typically, each heading is represented by a single envelope. Expenditure items that, in some families, not just eating and drinking and household needs, and electricity alone, but also includes pay for a home mortgage, car payments, electricity, telephone, child’s school fees, insurance and need a car (petrol, regular service, damage, etc.). Even savings, personal expenses and vacation father-mother became a separate envelope. If there is remaining, put into savings husband or wife, or more specifically open a joint account at the bank for the â € ~ menampungâ € ™ remaining envelope every month.

2. Dividing By Percentage

This form of management is to divide the responsibility in the form of the number or percentage of whole family needs each month is calculated including the postal savings and postal emergency. Each agreed to contribute a certain amount to cover those needs. The remainder is used as a personal savings to personal needs. For example, the wife to buy perfume, lipstick, or dress. It could also not counting the family’s needs first, husband and wife contribute the same based on the percentage. For example, 80:20. That is, each “deposit” 80 percent of his salary. The remaining 20 percent is saved for yourself. If you can save money, the money together, which is 80 percent, can be left to the family savings, in addition to husband and wife also each have a personal savings.

Here are three types of management where you can choose according to your wishes with your partner. Of course there are many more existing management patterns. The most important thing here is the mutual openness and family life with a shared responsibility.

1. Money together and Envelope System

Combined income of husband and wife live together. After that, a combination of both direct revenue is allocated to routine expenditure items which have been calculated first. Typically, each heading is represented by a single envelope. Expenditure items that, in some families, not just eating and drinking and household needs, and electricity alone, but also includes pay for a home mortgage, car payments, electricity, telephone, child’s school fees, insurance and need a car (petrol, regular service, damage, etc.). Even savings, personal expenses and vacation father-mother became a separate envelope. If there is remaining, put into savings husband or wife, or more specifically open a joint account at the bank for the â € ~ menampungâ € ™ remaining envelope every month.

2. Dividing By Percentage

This form of management is to divide the responsibility in the form of the number or percentage of whole family needs each month is calculated including the postal savings and postal emergency. Each agreed to contribute a certain amount to cover those needs. The remainder is used as a personal savings to personal needs. For example, the wife to buy perfume, lipstick, or dress. It could also not counting the family’s needs first, husband and wife contribute the same based on the percentage. For example, 80:20. That is, each “deposit” 80 percent of his salary. The remaining 20 percent is saved for yourself. If you can save money, the money together, which is 80 percent, can be left to the family savings, in addition to husband and wife also each have a personal savings.