John Labunski financial planning and saving money

 Building a financial plan that lasts forever is a challenge and regardless of your income. Planning is necessary, because in addition to having dreams and goals, unforeseen events happen and we are able to face them with much more tranquility when financially prepared. Those who have finances under control are also more productive and have fewer health problems.

 The first step in making a financial plan is to gather all the information about your financial life, such as current account statements, investments, purchase invoices, proof of income, debts, taxes, insurance, etc.

 Also raise your heritage, the installments that need to be paid and also the debts. Compare the interest rates you are paying with those practiced in the market for possible debt renegotiations. If you have any investments, analyze the profitability and if the risk is in line with your investor profile.

 What is your goal?

 After analyzing your financial and asset situation, the best part has come. Put on a list everything you want to achieve in the medium and long term. Include the amounts and time frame and make sure they are realistic.

 You will need to analyze monthly if the reality corresponds to what you planned. Set short and long-term goals to meet and be able to pay off debts and save money.

 Don't take a step bigger than your leg

 Or rather, live according to your standard of living. If you buy a car that consumes 50% of your income, you will live in debt and be unhappy. Living on appearances, or flaunting something you can't afford, isn't something that holds up in the long run.

 How about starting to invest?

 You can choose to save money in savings, invest in Treasury Direct or make a consortium, which is a simple and practical way to make an investment. In a consortium, you just choose the plan that best suits your budget and pay the monthly installments WITHOUT INTEREST!

 Avoid these mistakes

 ·         Take small expenses into account. It may seem that spending $ 5.00 here or there makes no difference, but this amount can greatly impact the accounts at the end of the month.

·         Differentiate need from desire. Do you really need to buy those pants or cut your hair right now?

·         Make a head count. You won't be able to control everything you spend just in your head. It is necessary to use spreadsheets or applications to have financial control.

·         Make sure that unforeseen happens. How about leaving a part of your income for possible emergencies? If that amount is not used in the month, save it for the next month. Will your car break down or does your dog get sick? Without planning, you can fall into overdraft or take out a loan and go into debt.

  

How about starting a programmed savings through the consortium? Enjoy and do a simulation .

 Share this information with your friends on social media and help spread the good news.

 

Posted by: DENA LABUNSKI vs. JOHN LABUNSKI