Managing finances for household are one of wife
routines. Even so, not all of them can do it well. According to data from the
Financial Services Authority (FSA) in the year 2013 only 17% of women who are 'literate'
or understand the financial arrangements as well. The financial management
capabilities of women, fairly determine the future of the family.
Are you the type who routinely manages
finances? If not, it is never too late to start. For that, get to know the
process of managing finances in five steps as financial planner suggested:
- Daily evaluation
It is recommended that women has money saving tips, especially wife
to perform financial evaluation every day. Namely, to record all expenses or
income occurred. It’s also suggested that the recording was done in detail.
This is so that you have not been too extravagant. The more detailed the
better. From there we usually realized how much the total expenditure that is
not too important we have spent.
- Financial goals
Stick with your financial goals suppose you
want to buy a car, house, or children's education expenses. This is important
so that you keep the spirit in saving or investing. After knowing the financial
goals, set in detail what kind of products you want. In compiling these
objectives, it is expected you can do it carefully in other words you have money saving tips.
Managing finances should be drafted smart. For
example, make sure that the objectives can be achieved, in accordance with the
financial conditions. Then there is a time limit, for example, be achieved
until the next three years.
- Determine the alternative
After determining the goal, try to create an
alternative way of getting it. If the funds are not enough to pay for the car
in full, you can take a mortgage. However, when deciding to repay, see
beforehand how Down Payment. Then, analysis of whether the cost of the mortgage
and the DP can be covered by income or savings. I believe this is one of simple ways to save money.
- Annual evaluation
Although the financial arrangements or money saving tips have been
done every day, there is no harm to look at the overall financial habits in a
period of one year. This should be done at the beginning or end of the year,
then compared with the last financial year to see whether you are more wasteful
or frugal, then meticulously cause. For those of you who are already married,
this should be done as a couple.
- Discipline
It is expected that you can implement this
process with good financial arrangements. One of the women temptations in
managing the financial is discount price at the shopping mall. For that reason,
avoid expenses that are not too important, just because the item is being cut
prices. Funding arrangements are also important for the sake of providing
pensions. So, if you can start doing good financial management as early as
possible, you will not regret in the future. More about the author at jareds jewelers.
