How to Manage Your Finances Smarter

How to Manage Your Finances Smarter

How to Manage Your Finances Smarter

Awareness to carry out financial management is very positive, especially if started early. As a first step, we recommend the creation of an emergency assistance fund or emergency fund first. Emergency fund is a fund to meet the needs monthly living allowance to around 6-12 months. These funds are essential if someone is really like a long illness or even relief assistance.

After the emergency fund collected, we recommend that you plan to carry out short-term financial plans, medium and long term. For example, in the near future, you need to defer the pay scale is for the daily needs and saving. Short-term financial plan to run, for example, among other things, if you plan to holiday abroad and continue their higher-level college, marriage preparation, or plan to buy a home or private vehicle.

A higher percentage of the salary savings will be achieved faster and better plan. On the other hand, if you owe, it should be no more than 10-30 percent of total wages. For others, you can spend about 40% of their monthly live primary needs, and 20% for loans, and 10% - the rest of your life.

If you want to invest, please can be adapted to the P. risk profile. Remember, if you want to invest in high return, of course, will also be a significant risk of harm. If you're still a novice, we recommend you invest in mutual funds, past or current investment in life insurance element.

Better understanding of our investments, the more we also do not dare to invest in higher level of return on such stocks. Beginners usually investments with low return on investment (in cash) of approximately 70-80 percent and the percentage of return media (fixed-income securities) are about 20-30 percent of the funds may be invested. If it still feels less able to provide high returns, then you can start investing in stock funds, about 10-20 percent of the funds we invest in it.

Of course it all depends on the risk profile and financial goals for you in the future. We hope that this article is useful and can secure their investments.

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