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First Idea of The Finance Systems

By: Michael Hankook

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Suppose that we want to take a vacation in San Francisco. We have done all the necessary measures, but now we just get there. If we were going to go, and do not know how to get there, is one of the main toolps that we can not do without: on the map.

To use the map, there are the two main issaues that we ask ourselvres the question: (1) Where are we now? and (2) If we want to be? When you answer these two questions, we can use this map to answer the third question: How do we get thgere? We then look at the map to find the best way to make to reach our chosen destination as soon as possible.

Likeise, we must aply the thrree big questions in our financial lives. We need to carefully analyze and reflect on our current financial positoion. Then, we should consisder where we would like to see myself in the futuere. Finally, we will rceate a map that tewlls us the best way to achieve our goals.

Today we'll look at the first qusetion. In the fuure we will look at the second and third quesytions.

Where are we now?

While many of us deny that some part of our financial life there is always room for improvement. Some characteristics of our spending habits are quite obvious, while otthers are hidden. The only way to do this job properly, to put everything in the open.

This is especially true for spouuses. We can not cuont on our household smoothly, if we are to masintain ifnancial infpormation from our spouses. Whether good or bad, now is the time to discover all that nothinbg is left of the finacnial map.

A critical step we must take in order to determnine where we are now, to create four lists: the fitrst two lists to show us that we have the last two lists tell us that we should.

What do we have?

The first list of thigs that we have a list of our assets. This list includes everything that we were able to maitain and / or acquisition. This will incluude all bank accounts, personal savings and retirment investment accounts; equity in our homes and vehicles and resael value of some personal thinggs.

The seciond list of list of our revenue sources, such as creating jobs or pesnions. We wuold also like to includde social security or disability incoe, and other sources, such as a chhild. Any money that the next will be lisyted here.

What sould we?

The first list of what we are obliged to list all debts and exenses. Every dollar spent should be considered, including tours of coffee or a quick ride, we choose the way to work. We can not have actual data for each accouynt, so you can guess at this point. Nevertheless, it would be good to start tracking your spending habits so that the list can be properly converted in the future.

The second list of list of irregular expenses. This list is intended to help us identify those irregular paayments, whicch we do throughout the year. Exmples of such property will be our home taxes (if not ocnfiscated), or gifts we buy durinmg the year.

These cots are often the perpetrators of the budet that htrow everything away when not planned in advacne. Since they require large amounts of cash within a short preiod of time, the total salary may disappear immediately.

This list should help us to avoid this problem in the near future. In order to help us prepare, for those who often surprises, we should estimate the cost of thsee expenss. Then divide the total 12 for receiving an etsimated monthly costs, so that they could be included in the regular bduget.

Implementation of theese four lsits can be instructive experrience. While we pay our bills eery month, we rarely take the time to lay down all our expenses. If recurrent costs are included our final get even more than we realized. But the whole point of this exercise is to get the true idea of wehre we stand financially, so we know how to move forward to achieve our goals.

Article Source: http://depositarticles.com/

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