Posts Tagged ‘family’
IN everyday life, you may be confused with the various financial needs such as paying bills, paying off debt, pay insurance, to set aside money for savings. Then, the needs which should be prioritized? See the explanation of the financial columnist Liz Pulliam Weston of MSN Money below, to help you manage your finances better:
1. Paying bills
Your ability to manage a variety of other financial priorities will be greatly increased when you are able to handle basic household expenditures. According to financial expert Elizabeth Warren, you are advised to limit spending’’shall”to 50 percent of total income tax deduction.
There is no mandatory spending that, according to him, including shelter, utilities, transportation, food, insurance, child care and the minimum payment loan. Meanwhile, 30 percent of revenue can be allocated to meet the”desire,’’such as new clothes, entertainment, and vacations. While the rest as much as 20 percent for savings and debt repayment.
If your mandatory spending swelled from 50 per cent share of after-tax income, you can control it by cutting spending on food and utilities. If not, you have to make further adjustments to find a cheaper place to live or get rid of the luxury car from the garage. Read the rest of this entry »
Almost all people, especially housewives found it difficult to arrange financing. Moreover, if the source is only fitting to monthly routine. There are six important things that need to be considered to manage your finances in order to improve the quality of life:
1. Perform financial planning.
Make important outposts in the envelopes that were given names such as per diem, monthly expenditure, contract houses, transport, school fees, as well as home purposes that include electricity, telephone and piped water. No need to reduce the cost drastically. The important thing is you have to be disciplined and adhere to the established budget. Are like any diet, if the slightest violation of an agreement then the expenditure will remain ‘overweight’. Read the rest of this entry »