Planning for the Future
The article deals with financial planning and what is important in all areas but this time we have financial planning in the home, this lets you create a budget which identifies the normal costs and those to be reduced, and savings goals that can be proposed for the benefit of the family.
Money management in the family should be taken into account in today's society, helps to avoid delays in payment of the cost, programmed savings, retirement plans, in today's society, families work to pay its expenses and obligations and not in the habit of saving to enable them to achieve their dreams like to enjoy a trip, home ownership, a car.
The article suggests that financial stability is achieved when people are able to meet the daily obligations, including the establishment of a savings plan, reducing debt to a manageable level, and the establishment of a fund Emergency equal to the cost of maintenance of 3-6 months, but both is possible to do this in Colombian homes in this part of different factors involved such as social and cultural rights, we are so used to program our finances?
The proposed act of creating a budget that will allow families to see their current financial situation and let you see that the expenses can be reduced.
The first step is to organize all your financial information, for it would be useful to use a spreadsheet where we record the following information.
• Bank statements
• Monthly invoices (eg, credit card, electricity, telephone)
• Monthly income information, complementary
You must have a monthly budget of income, only take into account the steady income, ie the usual income.
Must calculate the average monthly expenses include the usual costs and incidental expenses or entertainment expenses and others.
Then subtract the cost of monthly income manuals to determine the monthly balance, here we tell you how much money you should have at the end of the month to put into savings. If you have a monthly has a negative balance (you're spending more than you earn), it is necessary to reduce expenses.
Finally discusses the costs to see where it can be reduced, usually where the most can be reduced are entertainment expenses, the expenses are very high and can be repeated several times a month.
Set targets for reducing debt
Credit cards could say that the costs are more worrisome because interest rates are high and access to a credit card is making it easier for families to go into debt more easily. They advise debt pay credit card to a fixed timetable.
Savings Goal Setting
If we reduce the cost of entertainment we can start saving, putting goals fortnightly or monthly savings by starting with small amounts of money up to save programs and organizations.
We believe that well-implemented financial planning at home lead to develop a better standard of living, reduce the level of concern and raise the level of satisfaction as there are savings plans in times of emergency and planned future events in the family.