Ten Steps Prepare Emergency Funds
Future filled with uncertainty. You must be smart to keep yourselves, both in the present and future. Prepare an emergency fund to deal with uncertainty in the future with an emergency savings that can be used when needed. Here are 10 steps you can apply to start creating an emergency funds:
1. Calculate how much you spend each month.
2. Create an emergency fund savings target for about 3-6 times the cost of living per month.
3. Set aside a little money from the monthly income. Adjust the size with capability.
4. Save money in the form of money market accounts, high-interest savings accounts and money market mutual funds.
5. Treat your emergency fund as one of the bills to pay every month so motivated.
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Save Some of Your Salary
In order to get comfortable life and do not need much cost, and then save or put aside for savings some of your income is required. Thus, the future of you and your family will be protected. Then, how should the percentage of your monthly salary divided?
According to the business and financial practitioners, percentage that have saved or saving ratio ranges from 10-50 percent. The calculations based on the following three aspects.
First, the amount of savings fund that is owned today. Second, amount of remaining installments. Third, financial goals to be achieved within the next 5-25 years. From there, you can divide the savings for some purposes, namely;
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Five Signs Your Financial Well Enough
It can be said that our financial activities whether it be credit card debt, monthly expenses, house rent, bills or home loans cannot be removed from our lives. For that reason, no wonder if a great total of debt or financial condition can immediately influences our emotional life, physical, and also spiritual.
Just imagine when half of your salary must be deposited into your bank to repay your credit cards every month. This is a sign that you are driven by money (or debt). Income is no longer a sign that you are independent, but come to be a source of stress even nightmare because some must be used to repay debt.
It is important to ensure that our financial conditions remain proportionate and healthy. There are at least five things that indicate that your financial well enough: Continue Reading »