SMART Financial Management

During this time you might just get used to using the revenue primarily to finance short-term urgent needs, such as monthly expenditure, children school fees, telephone, electricity, transportation to the workplace, and others. In fact, the needs of the family actually did just that. Family needs that are often poorly thought out is usually a long-term needs that must be met in the future. For example, children's education, retirement, buying a house or vehicle, and many others. Usually we can not immediately meet the needs of this kind, so we need time to prepare their funds first by saving and investing.



You may already have a short-term financial management plan and long term as above. However you feel the pattern of family financial management that you run at this time was less successful because they still have difficulties arise which cause various problems. These financial problems such as budget deficits, can not save, into debt, and so forth. In addition to preparing long-term needs may be less mature and complete. For example, just prepare an investment for children's education only when at least be prepared also how to prepare for retirement. Investment rose done without knowing whether the funds will be sufficient future. In order not to get caught up in this issue and can manage finances well, then someone needs to know the ins and outs of family financial problems. But often people do not know the ins and outs of family planning because of lack of knowledge about financial planning.


Well, to overcome this problem start planning your family finances by making regular budget first. Budget or budgeting or cash flows of income and expenditure records of your monthly routine.


Revenue consists of income you and your wife is salary, bonuses, commissions, interest, deposits, and so forth. As for expenditures, then divide into 4 priority expenditure items, namely:


1. Expenditure items of loan repayment:


Pay your debt obligations first, before paying other expenses, because if you can get a penalty late interest also continues to run. Keep your total monthly debt payments to no more than 30% of your income, so the rest of your income is still enough to pay for other necessities of life.


2. Expense items for deposit savings & investment:


After paying the mortgage debt or if you do not have debts everywhere, then prioritaskanlah to make deposits to savings first. Because if you wait for the rest of the new salary and savings, usually do not have the rest. Try this savings deposit a minimum amount of 10% of your income, the bigger the better.


3. Postal insurance premium expenditure:


A lot of financial risk that can be experienced by a family of, for example the risk of death, health, and property loss. The occurrence of these risks could lead to financial losses. Antisipasilah risk of possible losses by buying insurance.


4. Household expenditure items:


Telephone, electricity, food, clothing, transportation, recreation is a priority of the last expenditure because the number of flexible, can be subtracted or added as needed.
The core of budgeting is for you is always less expenditure than income. Because if your expenses outweigh your income, would have a deficit. Due to this deficit, there can be no unpaid family pengeluan. To close it, might cause you owe.