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Posts Tagged ‘Money’

Life as a single mom single mothers alias is never easy. As a single mother, you have the same financial burden to others, plus you do not have a partner to share the burden.

You must provide your family and your finances for yourself, so it is important to be smart to manage your finances.

The following financial tips that can be adopted by single parents, so you are more confident to face your financial future

1. Make a Budget

Every person, whether he is single or married, need to plan the budget for better financial management. However, if you’re a single mother, it is necessary for greater financial plan for your income must be distributed for various expenses.

So it is more important important to you are more careful in spending the income. A single mother needs to have a household budget plan and discipline in accordance with these budgets.

2. Creating and Starting Investment Plan

When creating a household budget, do not forget to allocate any funds for savings each month. This method is known as “pay for yourself first”, which is included in the funds for yourself in the list of monthly expenses.

These savings should be included in a less risky investment because as a single mother, you can not take too much risk because you are the financial resources of the family.

3. More Financial Literacy

The biggest mistake that may be made by women is lack of knowledge about matters related to financial planning. Educate yourself by attending seminars, workshops, including discussions about smart investing and financial planning. It is important to ensure you are on the right track when making financial decisions based on information and knowledge they have learned.

4. Prepare Emergency Fund

As a single mother, the more important thing now is you have an emergency reserve fund that is safe for a few months of living expenses. Some financial experts suggest this, as there are additional savings, it also provides savings for living expenses at least 3 months for backup in case something happens, for example, you lose your job.

These funds invest in less risky investments so that one day you easily withdraw when something unexpected happens.

Other emergency preparation is also important, especially health insurance and disability insurance. If you are the main source to support children’s education, then you need to ensure adequate insurance to fund your children’s education.

5. Start Retirement Plan

The time will come someday retire. Seingga important for you to begin to plan for retirement, regardless of how old you are now. A woman must take into account life expectancy when planning for retirement because there are statistics that say women have a longer life expectancy than men. The best thing to do is start saving and investing money in earnest from now on.

6. Children and Money

Teach your kids about money, and so the money can encourage the spirit of a man, how the money we need to make choices and how the money may be able to bring us into line yan wrong if we are not careful to handle it.

Your children will always be afraid to think what would happen if you as a mother died. Explain to your children about your financial plans, units of investment, insurance or inheritance. All this information can give you confidence in your kids about the importance of financial planning in the future.

Conclusion: as a single mother, you must have a financial plan for you and your children can have a better future. If you do not have a financial plan, this is the best time to start making plans. Get started now! Do not waste your time anymore for the sake of the children you love.

Happy mother’s day ….

For most people, saving money while paying off debt is hard. That there is usually even dig a hole cover the hole. But in fact, pay off the debt an effective first step in saving money, you know. And remember, credit card bills, including one of the most expensive debt!

“So I should not owe?” Maybe your mind is so uproar.

One should not really owe. Provided that: (1) you really need, (2) you can pay it off.

Debt such as mortgages that required (Credit Home Ownership). You do need a place to live. Installments house is definitely better than . If savings are not enough, he replied mortgages. But before that, to know how long you will repay, and how much interest you pay. Select the shortest mortgage so you immediately free of debt.

Remain realistic. Some financial goals can be achieved overnight. But there is also need extra time and patience. Determine a realistic financial goals, which do not require you to fight too hard. If you want to save money to buy a house, for example, set aside Rp 20 million per year for 5 years is usually easier than Rp 100 million a year.

Yuk, this week, make a plan and determine your financial goals. It may also share your experience in the design it here, you know. If there is trouble, you can also directly consulted and asked MyWealth Advisors us here. Good luck!

The circulation financial implies cycles successive of money a-well-to-money between companies and individuals. The operation tions of a business is manifested in two types cycles financial statements, which differ in their rhythm. The short financial cycle is the fact that funds are allocated to inputs or pro- products, money that is recovered by charging sales. Cycle or financier or long or resource is the “fixed” fixed assets (equipment, intangible such as patents, trademarks, etc.).. The funds allocated to these resources return as money in successive periods, through the sales made ​​using this capability. So, unlike the funds allocated to inputs which are recovered through the sale of products, recovery of investments fixed no is produce mainly to the sale of those assets, but through operating cash flow generation resulting from use of fixed assets. The diagram 1.2 shows the main elements of the two financial cycles. The characteristics of each business cycles have an impact on the magnitude of resources of ben funded