Investment myths that limit financial results

Personal financial planning is a matter of control over your life. No more complete financial information about endless calculations: it is much simpler, but it can also be more powerful. This article can create a plan that works and is seen as one of the most important things on the road to financial stability.

Personal financial planning: last but not least

Personal financial plans are a matter that allows to transform the dinner in a herramiente into a problem. The model allows to clearly base a ​​​​​​camino finances on our actual data, planes and sueños.

Many people want to compare an apartment, but it is terrible to buy a house or a business, but on the menu is an important aspect: the planning. If there is no clear plan, all life must happen only in the closet. The idea is to put point A on point B on a map. Personal financial planning can define your goal and answer the question: is your manager used to being able to use more of his available resources?

Understand your personal financial goals

Objects are based on the basic model. There are three main categories:

1. Objects a corto plazo: se alcanzarán durante el proximo año. For example, compare a new smart phone, remodel an apartment or take care of a vacation. The overall goals of your business require a close control of the ingredients and guests.
2. Objetivos a mediano plazo is entre uno y cinco años. People can be a horror for a house, a horror for the first mortgage or a financial expense item. These goals require a special attention to the fear and the intelligent reversals.
3. Metas a large plazo: más de cinco años. This is related to the anniversary planning, the financing of education or doing business with the economy. Objects in a large plazo are much more important than the financing of financial instruments such as bonuses and deposits in a large plazo.

Although we divide our objectives into categories, we can understand that they assign effective methods to the fact that the plan can be one of the most stable financial institutions. The most important thing is that measurable objectives are established: determine what necessity and what square is needed and what this plan yields. The clarity and the precision can realize a follow-up of the progress and realize the right opportunities.

Basics of the presupuestación and personal financial management

The development of a prelude is that you can control the effective control of your flujo and that you can enjoy your dinner during your dinner. Take into account all the ingredients and guests. Register your guests with more pequeños: a menu that results in more peligrosos for the expectation. For example, the guests in a cafe or snack can be insignificant, but a large part of the time is an important meal.

The first step is to create a period. If you make a list of all the imported and guest products, it can be clear that you have to pay a huge price, because you will see the reversals. Managing our personal finances requires discipline: it is important to review your guests with your plan and not to have dinner in a way that lacks courage.

If you rule 50/30/20, 50% is for needs (life, money, transportation), 30% for personal guests (snacks, purchases) and 20% for ahorros and reversals. This means that you can find a balance between real needs and objectives in a large square.

You can make a financial plan for your year: instructions for the following

To make a personal financial plan for a year, it is necessary that there are different ways:

1. Determination of income: take into account all regular income: salaries, bonuses, interest on deposits, etc. For example, to take into account the income from income, including paying part of the time, giving benefits and reversing expenses.
2. Analysis of guests: divide the mandatory guests (alquiler, prestamos, public service) and optional (entrepreneurship, purchases). A complete analysis of the identification of the guests that can be insignificant, can be a large part of their assumed general representation.
3. Suppose: Distribute us ingresos de manera that the last part of the day will be mes to eat to get a Horrar or invertir. It is important that there are many details, such as annual expenses or medical expenses.
4. Adjust your plan: the life cycle and you assume that it is a consequence. It is important to review your plan quarterly to ensure that it is updated and that the cambios are realized only when they are needed. For example, if you need additional guests, you can use the ingress method.

Creation of a red financial sector

A reserve stock that is essential for many of the guests for a period of three months. If your guest has a menu of 50,000 rubles, you will have to shake off an amount between 150,000 and 300,000 rubles to create a colchón. This is a way that you can easily access your bank payments with quick retiro options.

Why is this necessary? At the beginning, when the brinda security in the case of a cambio is secured, while you are going through the trade, medical doctors are not helped or an urgent repair of the car is needed. Then you can find the possibilities of a lawyer who offers a menu with consequent rental options. The interest on the interest can be 15-20% annually, but it costs extra to use your own security guarantee.

Financial education and reversal: the principles need a sword

It can be difficult to understand the principles of financial instruments. Key things:

1. Bank deposits are simply an instrument to generate a fixed amount. The interest rates vary between 3 and 7% annual dependence on the bank. For example, at the large bank offices the interest rate can be around 4%, but at the commercial banks the interest can be 6-7%.
2. The acciones have recently had the opportunity to take advantage of the lending to companies, but can contact other companies. For the principles, the selection of companies with a large drawer, the lamadas “blue chips” must be carried out. Therefore, the companies of the Sberbank or Gazprom traditionally have to establish a crecimiento.
3. Bonos are property titles of companies or companies. The bonuses are unincorporated, which is the conversion in an instrument that works very well. In this case, consider the government bonuses (OFZ) one of the more confidential instruments for the preservation of capital.

Turn it around when you take charge of the principles. The idea is not to turn your dinner as an accessory: distribute your dinner between different instruments to reduce costs. In this case, the following ways can be turned around: 50% in deposits, 30% in bonuses and 20% in accionen. This means that the costs are reduced to a minimum and that a fixed value is allowed.

Important recommendations for your personal financial planning:

1. Define your financial objectives. In this case, it costs 300,000 rubles to format or 100,000 rubles to repair.
2. Create a human expectation and realize a next meal. Consider doing this, while the alquiler encourages people to use the cafe for food.
3. Proportionally a red financial security for 3 to 6 months. These solutions can be applied in case of imprevistas circumstances.
4. Comience con inversiones sencillas para principiantes. Opt for part of your dinner in deposits or bonuses.
5. Analyze and adjust the period of your financial plan for the turn of the year. Your plan is actually applicable to the cambian guests.

Conclusion

The personal financial planning gives control over your life and alcanzar over your metafinances. Make a clear plan, not only to earn your money with confidence, but you can also avoid your giros and unanswered matters. The financial planning is a more reliable partner to be able to eat a herramienta in a different way.

When you are stuck in arrears, it often seems like there is no way out. Banks and creditors demand payments, interest rates rise, and only one thought comes to mind: how to get out of debt? The solution begins with the simplest thing: recognizing the problem. If you ignore the situation, it can lead to even higher fines and an increase in total debt.

1. Recognizing the problem: the first step to financial stability

First, make a list of all your financial obligations: consumer loans, credit card debts, mortgages, and other expenses. It is important to highlight the most urgent problems. For example, a Sberbank credit card with a limit of 100,000 rubles and an interest rate of 30% per year requires special attention, because interest rates here are rising daily. A similar situation applies to microcredits, where interest rates can reach 500 percent per year, and even small amounts can grow into large debts.

By categorizing the contracts you have signed, you can more easily determine which ones to start and which ones to postpone. For example, if the list contains a VTB car contract for 500,000 rubles with a monthly installment of 20,000 rubles and an interest rate of 15%, then this requires less attention compared to a credit card. Once you have identified your priorities, you can start planning the next steps.

It is very important that you analyze your own expenses and income. If you spend about 30,000 rubles per month on non-essential purchases or entertainment, you can reduce the amount to redistribute money and pay off your obligations.

2. Understanding Finances: Analyzing Your Debts and Payments

Once you have identified the problem, you need to analyze your finances. To understand how to get out of debt, it is important to understand how loans work, what interest rates are charged, and what the structure of arrears is. For a thorough analysis, a detailed table should be made with the following data:

1. Debt amount. Specify the exact amount: 150,000 rubles for a T-Bank credit card or 800,000 rubles for a mortgage from Gazprombank.
2. Interest rates. For example, the mortgage interest rate is 12% per annum, and for microloans it can be up to 500% per annum.
3. Minimum payments: For a credit card, the minimum payment is 5,000 rubles, and for a car loan from Rosselkhozbank – 20,000 rubles per month.
4. Total due date. It is important to calculate how much you need to pay each month to pay off your debt faster.

It is also important to analyze expenses. Each category requires attention: transportation, supplies, food, medical care. For example, if you spend 10,000 rubles on utilities per month, it may be worth analyzing the rates and looking for opportunities to save. By making a detailed list of expenses, you can determine in which areas costs can be saved.

3. How to create a debt-free plan: a strategy for everyone

To understand how to get out of debt, it is necessary to make a clear and detailed plan. The main rule is: you can’t try to solve everything at once. Attention should be focused on the most problematic areas, that is, on those that have to be paid off first because of high interest rates.

Snowball method

It is advisable to use the snowball method: first pay off the smallest obligations, and then gradually move on to larger ones. For this purpose, additional sources of income can be developed. Anyone who is engaged in programming or design can independently carry out several additional projects. If you own a car, this is a great way to earn some extra money as a taxi or delivery driver. An additional amount of 10,000 to 20,000 rubles per month can speed up the process and quickly put you on a stable financial path.

Refinancing

Next, you should consider the options for refinancing. For example, if you have two loans, one of which is an Alfa Bank card and the other is a consumer loan from Sberbank, it may be wise to merge them into one product with more favorable terms. For example, by reducing the interest rate to 15% per annum.

4. Reduce your debt burden: how to pay off loans faster

To get out of debt faster, it is not only important to cut back, but also to work on reducing your financial burden. The most important step is to replace existing high-quality products. It is worth using all possible means to close them.

At this stage, it is also important to consider the possibility of restructuring overdue debts. For example, if a VTB car loan cannot be repaid on the desired date, you can contact the bank and ask for an extension of the repayment period or a reduction in monthly payments. This will allow financial resources to be redistributed to other, more urgent obligations.

5. Negotiations with the bank: How to reach an agreement on a loan restructuring?

Do not be afraid to negotiate with banks. If you have high debts, it is important to inquire about the solutions offered by your financial institution. When the financial situation worsens and there is no way out of the debt crisis, it is important to learn to negotiate wisely. Often it is not in the interest of banks to lose a client.

Before talking to a broker, it is important to have all the necessary information about your income, expenses and payments due. For example, if you have taken a car loan of 200,000 rubles from Gazprombank and the payments on your credit card and mortgage are a heavy burden on your budget, it is worth offering the bank a payment reduction program. Do not be afraid to ask for a longer repayment period or a lower interest rate.

Often banks come together to reduce the interest rate or change the terms if the client shows that he or she is willing and able to meet his or her obligations. However, in the current reality, they find it difficult to make payments under the old terms.

Debt Reduction Myths: What Not to Do and Why

Many people who find themselves in financial difficulties mistakenly believe that the solution lies in taking out a new loan to pay off old debts. This creates a credit cycle in which new products are simply stacked on top of each other, further increasing the burden. I don’t think this is the way to get out of debt.

Instead, focus on refinancing, restructuring, and reducing costs. This will give you long-term stability and the ability to solve problems without creating new obligations.

Conclusion

To understand how to get out of debt, you need to make a clear plan, tackle your debts, optimize your expenses, and think about additional sources of income. The most important thing is that you are not afraid to admit the problem and start solving it.