How to Invest Online

Online trading is the most popular form of investing, and provides you with the fastest and most reliable way to execute your trade.  If you are old school and want to call More »

How to Save Money without Noticing It

Saving money is one of the greatest issues people face. In a world that tries to stimulate consumption as much as it is possible, you will find a lot of temptation to More »

Assets: Make money work for you

Picture this: you are the head of your own company. the big cheeze, the BOSS. you have hundreds of employees, and you sell a good or service that just rakes in the More »

Tips for a better personal budget management

As it was already said, creating a personal budget is one of the first steps for healthier finances. Apart from creating it, following it strictly is the next most important thing to More »

What to do after you have your Personal Budget

We already established the basics to create a personal budget. Of course, everybody has a different one; one that adapts to their lifestyle and especially their incomes and expenses. But, it does More »

 

Useful Tips for Managing Expenses

If you are reading this article, you probably one of those which do not manage to manage expenses properly. Now, depending on everyone’s condition, there are two factors that lead to that:

  • Your income is low and can’t cover all the things you need to buy
  • You have a decent income, but you do not manage to spend your money in an intelligent way.

This article will try to help those of you which find themselves in the second category. We will write another material in which we will discuss about increasing income, but let’s now focus on ways to optimize expenses. We’ll give you some useful tips which will help to spend money in a more efficient way, so you won’t find yourself on the negative at the end of the month.

Tip #1 Record all the monthly expenses

Before you start to make a strategy for managing expenses you need to have a track record of your current expenses. So, for the first month try to draw a picture of your personal budget and expenses. Note every expense that you make, without exception. You need to understand how you are spending your money, so this first step is crucial.

Tip #2 Organize expenses by categories

After you have the list of expenses you need to organize them in a series of important categories. Some of them might be:

-food and drinks

-bills

-entertainment

-traveling etc.

It depends on each one, there is no fixed way to do it. This step will help you see on a percentage basis, how much are you spending on each category.

Tip #3 Make a budget for each category

If you are not managing to handle your salary, you need to preset a fixed amount of money which you can spend in the span of a moth. Discipline is highly important here, as you will see yourself tempted to spend as you did before.

However, if you want to manage your money properly and be able to plan an extra vacation in a few month, you need to make sure you are handling your expenses properly right now.

Meta description: Managing expenses is tricky sometimes. Find out more about how you could do it easily in the fresh material.

How to Save Money without Noticing It

Saving money is one of the greatest issues people face. In a world that tries to stimulate consumption as much as it is possible, you will find a lot of temptation to spend all your hard-earned money. Most of the people are not even noticing that they are sacrificing their long-term well-being for some things that gives them satisfaction for a short period of time.

If you are reading this article, it is clear that you think different and you want to do things in a smarter way. You are also probably searching for some tips for personal budget  and that is why we want to give a simple and effective way to save some money. Although the sums might be small in the short run, you will see that in the longer run results are better than you would expect.

The 10% rule

Let’s say that you are currently earning 1k per month. This number is below average and we’ve choose it with purpose, because we do not want to artificially inflate the numbers, so they will look better. Make sure to receive your salary on a bank account, not cash. You’ll see in the following statements why.

Open a savings account

The next step would be to open a savings account. A private pension account would also be a good idea. Preferably, your bank account and your savings account should be opened at the same bank, so it will be easier to make the next step. We won’t recommend any bank, it is up to you to choose one that you think fits the best. Do a little research, find out what feedback other customers are offering and only then open the account.

 

Set a monthly transfer to the savings account

You have the possibility to set a monthly payment from your bank account to your savings account. Make sure to set a date that is after the date you receive your salary, so you won’t encounter any issues. Set your account to automatically send 10% each month to your savings account.

If you do the math, for a 1k account, 10% means 100, 100 multiplied by 12 equals 1200 and in 10 years you will have 12,000. Simple enough to save a decent amount of money and improve your personal budget.

Meta description: Find out an easy way to save money in order to be able to manage your monthly expenses. See how you could do that for free. Find out more in this material.

How to financially plan for a vacation or travel? (Travel Financial Plan)

travel budget

 

Planning for a good vacation should most likely be the highlight of any individual’s year. Making arrangements for two or three carefree weeks is something important as travelling or vacation can be costly. Figuring out how to do as such easily, and with some component of planning ahead with regards to budgetary arranging, is something that is troublesome yet important to ace. Rather than putting your travel plans off or putting everything using a loan, you must save some money today to have a debt-free vacation in future.  People at times just want to bounce in a car or jump on a plane to escape to some place calm and nice. However, getting away is more agreeable when cash isn’t an issue and duties at work and at home are secured.

Assets: Make money work for you

assets

Picture this: you are the head of your own company. the big cheeze, the BOSS. you have hundreds of employees, and you sell a good or service that just rakes in the doe. Wouldn’t that be the life? What if I told you that you could reap all of those benefits without ever hiring a single soul, without ever leaving your current gig? well follow me along this journey as I explain the power of assets in one’s life.