Intelligentsia

Of course you agree, every family should be frugal and careful spending money. Here are tips on how to shop smart so you can save more money. Although mother is often the financial manager in today’s young families, but father also must knows how to shop more intelligently. At least, to remind each other!

1. Organize your shopping list and bring it when going shopping.

2. Plan items to be purchased and specify the amount of money you will spend and try not to “out” of this spending plan.

3. Separate between needs and wants. Ask yourself, if you “need” the stuff you write down in the list or just “want it.” If you meet all your desires, as a result you will always run out of money.
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Financial problems are usually happen in families, commonly in the first years of married. And when the baby comes around you and your spouse. Certainly increase the amount of expenditure. Is it true that the problem is about the amount of family income? How to deal with financial problems?

Frequently, the problem is not due to a lack of family income, but the wrong way to manage money.
Here are some simple keys to manage the family finances:

1. Understand your family’s financial portfolio.
Do not let you do not know about your family’s financial. You need to know the amount of monthly saving, the amount of electricity bills, car insurance (service), telephone, internet, health insurance, shopping, and other expenses. You should also know how much your credit card debt, bank loan or mortgage.

2. Think more carefully the meaning of “need” and “wants”.
Sometimes we spend our money on things that are not too important, or just motivated by desire, not necessity. Make a list of items to buy and than put them in column tables “needs” and “wants”. When you have finished with the column, fill the “needs” and “wants” with a check mark. From here consider wisely, thing or things you need to buy (fill) or not.
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Almost all people want to live in prosperity, but there are only a few people who really plan to get welfare. Since the age twentieth, actually every person has been able to begin financial planning to get prosperity.

Here are some things you should do to get the welfare in the future:

# Saving 5-10 percent of revenue.
# Have an emergency fund of at least six times from monthly cost.
# Make long-term investment, purchasing a house for example.
# Open a saving for retirement.
# Protect yourself by owning sufficient insurance such as life insurance, health insurance, education insurance, etc.

Before choosing investments for the long-term financial planning, the important thing to do is to create savings and emergency funds. Continue Reading »