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Posts Tagged ‘finances’

Savings is the share of income that is not affected consumer.

But it’s not just the passive result of a subtraction, which remains when one has spent. It is generally a desired action, a waiver to eat to achieve future goals, which vary from one individual to another. Savings can be placed in different ways. Savings products are many and they change fast. How to make the right choices? Here are some marks on the basic questions to be asked before you save.

• By what criteria should its savings products
• Saving based on his personal situation Read the rest of this entry »

What I love about managing personal finances and effectiveness, is that these are two topics that have a common foundation: human psychology!

I recently did a presentation to professionals on the topic of personal productivity and the subject very well hung with the human approach to things that change the old advice of our grandfathers’ time management ‘and’ managing priorities “that emmerdent everyone and are unenforceable.

Have you ever heard the famous “When will there be?” Is one of the most ridiculous phrases that exist because if they did we would all be thin and not rich? The reality is cons-intuitive and more subtle than that. This is particularly striking about our food. In Put up for overeating the author realize that we are 200 decisions a day about it and it shows that weight loss or fat is played with 100 calories per day. He explains that while most of the work plan (at least initially) because they limit our choices and therefore the errors we may commit because of the weakness of our will.
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Day 1 – Make the inventory

What is the situation? Do you have your wealth lay flat and watched the status of your accounts ?
Do you need to repay a loan and choose a strategy?
Spend the first day to take stock. Count.
What do you have in your possession? What is not yet to you? How much do you pay each month?
The key you need to get, is whether increasing or decreasing your wealth every year.

Day 2 – Set your goals

What do you do? How do you put in savings? Do you have a strong precautionary saving ?

Describe your financial goals monthly using the following:

• amount to be saved
• amount to be invested
• amount to spend on leisure
• amount to be spent in a constraint (rent / transport)
• Are there items that need to grow? Others who must be reduced?

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Some time ago I wrote a guest post entitled My Retirement Plan (Plan Your Finances in) where I told my story and how the 34 years I have left to reach retirement age in Peru playing in my favor. I no longer think of retirement as a distant event for which you should not plan, but rather as an inevitable event for which fortunately I have time to work. This post addresses the issue more broadly.

Retirement is one of those events that we see too far to pay attention. When we are young do not even think about it … and as we grow we focus on other significant changes that are happening to us and building for our family to have the life we ​​have dreamed for her. But eventually comes that time when we joined the ranks of retirees and a person reaches this point without being prepared.

Being prepared is not just about having enough savings to pay for our lifestyle and spending habits without the need to generate income. Be prepared to take a step further: have the budget to deal with medical expenses that stage themselves, not carrying any debt, build passive income to enable us to continue to receive cash flows without affecting the stability of our heritage, have our investments and assets in financial instruments in the level of risk and liquidity necessary to our profile, and other important pillars that will enable us to sustain our finances for the duration of this phase.
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Eighteen years ago, right after graduation from dental school, Morris Clark met a Connecticut financial advisor who taught him how to save and invest. “Peter talked about how finances can fit into the rest of your life,” says Clark. “His greatest value was in giving me the information I needed to think intelligently about money and separate emotion from objectivity. I learned to know when I was in over my head, when financial opportunities were more sophisticated than they appeared, and what to look for when examining a new investment choice.”

He showed me there are ways to take risk without jeopardizing my entire financial program” – Morris Clark, D.D.S.

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Saving money is that aspect of your finances, which you wish to adopt but often fail to make up. More than 75% of Americans feel that their saving is insufficient to serve retirement purpose. Recent researches have revealed that savings have not much to do with your final asset.
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