In addition to preparing the year-end party, which also means it is time to re-organize your financial planning in the year ahead.
Manage finances properly will provide many benefits, among others, the first to reach the ideals of family, such as education berkualiatas for children, pension plan, buying a second home a bigger, buy a car, start a business / venture. Second, anticipating the family's financial problems, such as up in debt. By doing financial planning, the risks that may arise can be anticipated. Third, there is always control the flow in and out of the family finances, so it could be detected well and there are no "Bigger stake than the pole"
What should be re-done at the beginning of this year in managing the family finances?
1. Evaluation (review)
Time to reopen and megumpulkan all your financial records and see how your financial situation this year. Is it in accordance with the planning at the beginning of the previous year? If it is appropriate, you can continue or be added to next year's plan. If not fit, you need to check in advance where it died, so there will be no mistake back in 2015 this plan.
2. Financial Check Up.
Know all of your expenses and income. After an evaluation, the first thing to do is to identify what expenses your family and especially to know where are the sources of your financial income and how much. The first stage is important to recognize your financial capabilities.
3. Arrange Financial Goals
Why do many people have financial problems? Insufficient income the cost of living, can not even pay the debt? It turns out the main reason is because they do not plan where the money they have to be used. Important elements in good financial planning is the financial goals are clear. There are two (2) factors that we have to consider in setting financial goals, namely the duration and type of needs.
Based on the time period, we can divide financial goals become:
• Starting with the purposes of the current financial, that is to say how much money in the form of liquid available as a source of funds to provide for the family, ranging from the purpose of payment of electricity, telephone, school fees, transport, up to the needs at the end of the week, such as eating in a restaurant , roads. This requirement needs to be designed and budgeted funds that can be controlled on a regular basis every month.
• Short-term financial goals which only takes 1 year to achieve (eg, saving to buy a motorcycle, a laptop) or the funds for the purposes of a family vacation can be planned repeated every year.
• While the medium-term financial goals is a plan that takes 2 to 5 years to achieve (eg investment to provide children's education expenses, buying a home).
What about the needs of your child's education cost? Suppose next year your child starts junior high, if the investment you've done the previous year are sufficient for the base cost money? If not allocated, you only have 1.5 years to prepare ahead of the new school year next year. Nowadays we know that the longer the education fund will be more burdensome bag you as a parent, but the earlier we prepared through the investment will be a mild thing to do.
Long-term financial goals. Categorized as your needs minimal in the next 5 years. Whether for the purpose of investing your retirement funds are in accordance with the target until the end of this year? Is the investment products we choose are in accordance with the needs? If it is appropriate, you continue with the design of the investments made the previous year. If not done, immediately calculate your retirement funding needs from now on, and immediately invest to meet them. Do not delay! Consider also how to achieve it, perhaps by setting aside separate funds each month for the purpose.
Emergency Fund needs also need to be developed as a protection or money precaution on the risk of death / accident on yourself as giving families a source of funds.
While based on the type of needs, you can divide the financial goals into 3 types of goods, such as consumer goods, ie goods that we routinely use, relatively cheap price, but the needs of accumulation becomes large enough each year (eg the need toothpaste, bath soap, laundry soap , shampoo, groceries). The next is durable goods, ie goods that are rarely purchased, the price is relatively expensive but can be used for a long time, at least 3 years, so as to fulfill before we can make investments (eg cars, motorcycles, TV). And the last is the intangible goods, are goods that can not be touched, but very necessary for your family, namely health care costs, education costs, your retirement living expenses, the cost of a vacation. The need for these items can be customized as per priority when the goods are required, whether it should be immediately available or can still be delayed to meet the needs of others first.
The next step of preparing the family's financial goal is to do the classification of our financial goals and priorities based on both the above categories.
4. Create a Family Budget.
Next make your shopping budget. Calculate the costs. At this stage it should be made very detailed with already entering the nominal value of rupiah for every budget institute to all financial goals, including basic needs of your family.
Most importantly, the value you entered is a reasonable number, so that you can know the approximate real conditions of your family needs for the year ahead.
Inflation is an important factor that should be included in the calculation of the cost that you will need in the future.
5. Execution
Do what you've been stacking in the financial plan.
6. Commitment
Good financial planning, without accompanied discipline will not mean anything. So there needs to be a commitment for you to be disciplined to run your own family financial plan.
7. Back to Evaluation
Evaluation is important to determine whether your financial plan is still appropriate. Eg investment for the purpose of education of children are reviewed on a regular basis 3-month, whether the results are in accordance with the expected investment return is expected, if there is increase in the value of tuition, so that the value of your investment should be increased?
But do not also too strictly monitor your investments, because the financial goals you adopt is for medium or long term.
Finally, feels easy right when arranging family keluangan done with a good plan and carried out gradually and discipline?
You and your family will be able to enjoy your vacation plans in the coming years with calm without worries overshadowed error occurs excessive expenditure of funds from sources of funding your family.
Manage finances properly will provide many benefits, among others, the first to reach the ideals of family, such as education berkualiatas for children, pension plan, buying a second home a bigger, buy a car, start a business / venture. Second, anticipating the family's financial problems, such as up in debt. By doing financial planning, the risks that may arise can be anticipated. Third, there is always control the flow in and out of the family finances, so it could be detected well and there are no "Bigger stake than the pole"
What should be re-done at the beginning of this year in managing the family finances?
1. Evaluation (review)
Time to reopen and megumpulkan all your financial records and see how your financial situation this year. Is it in accordance with the planning at the beginning of the previous year? If it is appropriate, you can continue or be added to next year's plan. If not fit, you need to check in advance where it died, so there will be no mistake back in 2015 this plan.
2. Financial Check Up.
Know all of your expenses and income. After an evaluation, the first thing to do is to identify what expenses your family and especially to know where are the sources of your financial income and how much. The first stage is important to recognize your financial capabilities.
3. Arrange Financial Goals
Why do many people have financial problems? Insufficient income the cost of living, can not even pay the debt? It turns out the main reason is because they do not plan where the money they have to be used. Important elements in good financial planning is the financial goals are clear. There are two (2) factors that we have to consider in setting financial goals, namely the duration and type of needs.
Based on the time period, we can divide financial goals become:
• Starting with the purposes of the current financial, that is to say how much money in the form of liquid available as a source of funds to provide for the family, ranging from the purpose of payment of electricity, telephone, school fees, transport, up to the needs at the end of the week, such as eating in a restaurant , roads. This requirement needs to be designed and budgeted funds that can be controlled on a regular basis every month.
• Short-term financial goals which only takes 1 year to achieve (eg, saving to buy a motorcycle, a laptop) or the funds for the purposes of a family vacation can be planned repeated every year.
• While the medium-term financial goals is a plan that takes 2 to 5 years to achieve (eg investment to provide children's education expenses, buying a home).
What about the needs of your child's education cost? Suppose next year your child starts junior high, if the investment you've done the previous year are sufficient for the base cost money? If not allocated, you only have 1.5 years to prepare ahead of the new school year next year. Nowadays we know that the longer the education fund will be more burdensome bag you as a parent, but the earlier we prepared through the investment will be a mild thing to do.
Long-term financial goals. Categorized as your needs minimal in the next 5 years. Whether for the purpose of investing your retirement funds are in accordance with the target until the end of this year? Is the investment products we choose are in accordance with the needs? If it is appropriate, you continue with the design of the investments made the previous year. If not done, immediately calculate your retirement funding needs from now on, and immediately invest to meet them. Do not delay! Consider also how to achieve it, perhaps by setting aside separate funds each month for the purpose.
Emergency Fund needs also need to be developed as a protection or money precaution on the risk of death / accident on yourself as giving families a source of funds.
While based on the type of needs, you can divide the financial goals into 3 types of goods, such as consumer goods, ie goods that we routinely use, relatively cheap price, but the needs of accumulation becomes large enough each year (eg the need toothpaste, bath soap, laundry soap , shampoo, groceries). The next is durable goods, ie goods that are rarely purchased, the price is relatively expensive but can be used for a long time, at least 3 years, so as to fulfill before we can make investments (eg cars, motorcycles, TV). And the last is the intangible goods, are goods that can not be touched, but very necessary for your family, namely health care costs, education costs, your retirement living expenses, the cost of a vacation. The need for these items can be customized as per priority when the goods are required, whether it should be immediately available or can still be delayed to meet the needs of others first.
The next step of preparing the family's financial goal is to do the classification of our financial goals and priorities based on both the above categories.
4. Create a Family Budget.
Next make your shopping budget. Calculate the costs. At this stage it should be made very detailed with already entering the nominal value of rupiah for every budget institute to all financial goals, including basic needs of your family.
Most importantly, the value you entered is a reasonable number, so that you can know the approximate real conditions of your family needs for the year ahead.
Inflation is an important factor that should be included in the calculation of the cost that you will need in the future.
5. Execution
Do what you've been stacking in the financial plan.
6. Commitment
Good financial planning, without accompanied discipline will not mean anything. So there needs to be a commitment for you to be disciplined to run your own family financial plan.
7. Back to Evaluation
Evaluation is important to determine whether your financial plan is still appropriate. Eg investment for the purpose of education of children are reviewed on a regular basis 3-month, whether the results are in accordance with the expected investment return is expected, if there is increase in the value of tuition, so that the value of your investment should be increased?
But do not also too strictly monitor your investments, because the financial goals you adopt is for medium or long term.
Finally, feels easy right when arranging family keluangan done with a good plan and carried out gradually and discipline?
You and your family will be able to enjoy your vacation plans in the coming years with calm without worries overshadowed error occurs excessive expenditure of funds from sources of funding your family.
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