Plan your savings for bright economical growth

money

How much you are earning is not the matter tomorrow, only how much you have and how much you saved is the matter. Whatever you are earning it will be important for now but after some your earnings may not be fruitful, that time if you turn back and see your money savings.

These are the tips for your tomorrow’s bright economical conditions:

Have a goal:

Every one of us has a goal in career, and wants to reach creation position by certain time frame.

But how many has goals for economical growth, everyone wants to become rich but very few will set economical goals.

Start setting your goal right now

Ways to reach goal:

Once you set your goal then start thinking how you will save and where you will invest. Divide your saving plans to short term and long term. Set you short term saving plans and long term saving plans accordingly.

Know the difference between luxury and necessity:

Everyone will earn money, but few will succeed and become rich. You need to spend every penny in a fruitful way. It will happen only when you know the difference between luxury and necessity.

Don’t get influenced:

This is very important point; many will follow others and buy what other buy. That’s not right way. Have your own individuality and decide yourself what is you need and what is luxury for you.

Have a budget:

Have a monthly budget .prepare your spending and earnings balance sheet, then you can reduce your unnecessary spending and can save more.

you may like this post also Educate your children to money management

 

 

 

How to teach money value to children

childrenmoneytips

This article is to give some tips and helps in in teaching money value to children.

All parents treat their kids very well. Parents will buy whatever kids want and give them timely.

But same time you need to teach your children ethical values and money values because they are the tomorrow’s citizens and they should spend good life in society.

If you start teaching, very first they may not understand. After some time they will follow you and listen to your words.

start right now teaching money value to children

Kidde bank:

Teach the children to save money from childhood on wards. Present them one kiddie box and ask them to save some money themselves.

Bank deposit:

Give some money to children and ask them to deposit in post office. Use that money for their need.

It will teach them importance of saving money.

Pocket money:

Start giving pocket money after some age and ask them to save some money. Ask them to calculate their money monthly. Then they will learn money counting and its value.

Budget:

Ask them to make budget for their things and teach them how to save while buying things. Ask them to use prize money they got from relatives and friends in effective way for their needs.

Charity:

Also teach them to give some money to needy and charity.

Sacrifice:

Don’t forget to teach them that they need to sacrifice some things for some reason. If you need something you need to sacrifice something.

Read also http://www.wellness2beauty.com/2015/05/30/effective-of-balancing-your-spending-and-savings

 

 

 

 

 

Monthly budget can avoid financial crisis

budget

Yearly Budget for country is very important as its decide the financial fate of the country. Same way monthly budget is crucial for every home. You should have control over spending and should know how to ensure savings.

If you wish your family to live happily without any financial crisis, then you need to follow some tips and make your own monthly budget.

Estimate monthly income:

This is the first step for your budget. You should know your monthly income from all resources. Just refer your last month’s income and estimate your current month’s income. Once you know your income, then you can plan your budget.

Note down your spending:

List down all your mandatory spending like house rent, electricity bill, grocery bill, telephone bill,all other mandatory items. You can estimate secondary spending like movie plans, travel expenditures and, shopping’s expenditures. This will give you complete picture of your house financial status.wheter you are in good incomes or in debts.

Start saving:

If you feel your spending is more than your income, start saving right now. You have the list of your spending and review it. Reduce spending, where you are spending more and prefer necessary things first and avoid luxury. Start saving some amount for emergency needs in future.

Avoid luxury:

Our spending is of two types. Mandatory and desires. We can postpone our desires temporarily if our budget is not enough. Luxuries for rich people and you should not go for luxury items until unless you have more income than your mandatory needs.

Look for secondary income sources:

Only one income source is not enough. One income source cannot fulfil your requirements after some years. You should invest somewhere and look for secondary source of income.

Review your budget:

Review your budget every month and check whether it’s going in proper direction or not. If not going in right direction, make corrections to your budget to balance your savings and spending.

 

 

 

 

 

6 ways of balancing spending vs savings

14vasu5a

Doing a job and earning millions of penny is common nowdays. But if someone ask what your savings, many of us are have no answer.

Earning is important for lively hood, but spending that money carefully is much more important.

These are the 6 ways of  balancing spending vs savings

Right time:

If you earn money and giving money to your partner or father is fine. But you should know how to manage your money. There is no good time than now, start now itself. Have better control over your spending and savings.

 

Review your spending:

Keep an eye on your spending in each month. Better have a weekly and monthly list of your spending.

Review your list and find out where you are wasting money and avoid it.

 

Careful with Credit cards:

If you are using credit cards be careful. You will buy using credit card as need not pay interest for first 50 days, but after that you will end of with paying huge interests if you did not pay on time.

 

Savings first spending next:

Whenever you get salary first you keep your money aside for saving and then spend remaining. But many will do in reverse way and which is not effective. If you want to save after all your spending, you will be left with nothing.

 

Investments:

You can try different saving methods like fixed deposits where you will get more interests. Also some polices which will give good returns. Mutual funds and Investing in share market also good options if you have knowledge of share market and mutual fund schemes.

 

Don’t put all eggs into same basket: 

This suggestion is from warren buffet. Never put all your savings into same method of saving. We can’t predict the world and sometimes banks that you invested may go badly down or stock market go deep low. So always prefer more than one saving method.

 

Read also http://www.wellness2beauty.com/2015/05/11/educate-your-children-to-efficient-money-management

 

Educate your children to money management

money

Knowing money value is very important and we see many spend thrifts in our daily life and they don’t even bother from where they are getting money, simply they will spend some ones hard earned money.

If you want your children to lead their life happily without any major financial crisis, do not give them lots of money, instead teach them the value of money.

These are some basics or ethics for efficient money management.

Teach the moral values:

Teach your children how to respect their work and nothing in this world comes as freebie. Everything will comes through hard work only.

Be yourself as role model:

You are the role model for your children and how your spending money matters. Whatever way you are following, your children will imitate the same.

So be like an ideal parent and whatever you teach them through words, you should reflect in your deeds also. Your children follow your deeds than your words. So spend money carefully and in an ideal way.

Discuss about money matters with children:

Frequently discuss money matters with your children and let them understand it.Whenever you are going for a shopping, just take them along with you. Just explain the offers and rates and how to bargain in local markets.

Say no to spend on unwanted things:

If they buy any costly and unwanted thing and ask you to pay the money after wards. Then say no firmly. If you pay immediately, they never understand the value of money. Ask them to discuss with you before buy any costly things.

Thus these money ethics and common sense teaches everyone efficient money management,it applicable for children as well as elders.

You follow first and then your children will follow you.Be a role model to your children.

Read also Beat stress with favorite fruits.

Top 7 Online shopping tips for good savings

29vasu4a

Online shopping is dominating the business today. Many youngsters and students prefer to buy online goods. You can save lot of money if you follow some simple Online shopping tips in online purchases.

Top 7 Online shopping tips :

Buy at right time:

Selecting right discount time is very crucial to save money. Generally all online websites gives discounts on 2nd, 27th and 28th of every month. Just plan all your purchases on these to avail the entire bumper discount and to save lots of money on purchasing.

Approach social websites:

Whenever you want to buy anything on your favourite website, first check the social networking sites of that website like facebook, twitter..Etc.All discount coupons and latest trending offer will be posted to social networking sites.

Use find saving option:

Some websites have this find saving option. If you select this option you will get discount on the final sum price of all goods, based on minimum purchase requirements. Once you selected all your goods, you can select this option to avail final discount and final price. You must try this option next time and see the difference.

Free Shipping:

Some websites will show fewer prices when compared to other competitor website, but if you purchase any item there, they will put more shipping charges. It’s better to chose free shipping website otherwise just calculate final price with shipping charges on different website and then decide.

Read also Learn Body Sleep Requirements,Sleep Techniques

Use price compare sites:

When you find any product through search engines, some sites will show the price of the product and on which website that product available also, but that may not be cheapest price. You need further see for other seller’s option where price of the same product varies from website to website. You can select the least price website and can buy from there.

Careful with fraud sites:

Don’t buy on very new and unknown sites, they may cheat you. Better buy some standard sites always.

Read product details:

Some sites will show different product names and different product pictures, but will sell you different ones. Read complete product details and specification before purchase.

Use these Online shopping tips to protect your money while purchase.