Financial Methods » Family Finance http://www.financial-methods.com about financial methods and financial tips Wed, 24 Feb 2010 01:37:25 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Preparing for Retirement Time http://www.financial-methods.com/preparing-for-retirement-time.html http://www.financial-methods.com/preparing-for-retirement-time.html#comments Wed, 09 Dec 2009 04:51:58 +0000 Admin http://www.financial-methods.com/?p=3 In the personal finance knowledge, any good financial decisions will provide more value for the future than the present. Think of good decisions you have ever made, choosing to cook food at home or eating in restaurants, take public transportation or ride bike to work instead of taking own car to save gas, buy education insurance or investment products for children and so on. All this leads to a principle that is save more for the future.

Conversely, any bad financial decisions will provide more value to the present than the future. For example, how many times we are tempted to buy things we want but there is no budget for that item. Buying with credit will usually be made to realize this desire.

Any good decisions in managing the family finance are able to provide benefits in the future. Reckless spending are only useful in the present, while using the money wisely to be able to save money will be useful for our future and family, especially for our retirement future.

Retirement is a time where we no longer produce. Retirement can come to us anytime. There are also things that could make us forced to retire before its time, whether because of accident or other reasons. Retirement is something that has to be prepared from now. So, have we prepared and fill the barn for retirement time?

]]> http://www.financial-methods.com/preparing-for-retirement-time.html/feed 0 Family Money Managements Tips http://www.financial-methods.com/family-money-managements-tips.html http://www.financial-methods.com/family-money-managements-tips.html#comments Mon, 30 Nov 2009 07:59:26 +0000 Admin http://www.financial-methods.com/?p=12 # The first and most important priority: pay off your consumer debt as soon as possible. The sooner is the better.
# Check loan repayment expenditure, is it <= 30%? If more, it means your debt burden is too heavy and not at risk paid off.
# The second priority, saving at least 10% of your revenue. The higher is the better.
# Do not be too much put your money in savings. Having fulfilled the post emergency fund, start investing!
# Remember, lifestyle = expense. Want to know whether your lifestyle is in accordance with the income? Check expenditure of non-routine and your routine. If it does not fit, do the trimming expenses now.
# Be a smart shopper! Think 10 times before you spend money. Is it really necessary and as required? Would I buy goods, including productive or consumptive?
# At the right time to buy is when the goods you need are sale with discount at the store. But the most important thing to remember, it is the stuff you really need and have been budgeted! That way you can just pass a shop that was a massive sale without having to go and shop if you do not need anything.
# Do not ignore the expenses that are trivial and are small but regular or frequent. Without realizing it, if in total during the month turned out there were not a little and enough to drain our bags. This should be removed.
# It is important to remember, your credit card is not extra money. If using a credit card, make sure that indeed the money to pay the bill already exists within your budget. That way, you can certainly meet on time.
# The biggest challenge in managing the family finances is to reduce expense (simplify lifestyle) and increase your income. If this can be done in a consistent and disciplined, will the success of managing your family finances will be realized easily.

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