Proper management of personal finances is one of the most important skills in modern life. Moreover, in order to improve material position it is just necessary to understand the principles of budget planning. In this article, we will try to discuss some basic aspects in the field of financial literacy.
It is important to accept that attempts to control budget in the head is disadvantageous. Try to record numbers, at that, recording form itself remains largely a matter of taste. You decided in the old manner to use note-book —Excel table will be perfect too. The main thing is not to keep everything in mind and it should be structured conveniently.
After selecting a tool that you like, make a table of costs. Compose it and try to follow it, in spite of everything. Such an approach will not only allow avoiding unnecessary force majors, but almost certainly will push you to austerity in varying degrees.
But in this case there is side effect.
Being keen in hoarding, the main thing is not to overreact and to remember that there are things to save on which is harmful to health or at least inappropriate. That is, of course, abandoning the new smartphone in favour of replenishing the family budget is reasonable act, but if you start to downsize in choosing good nutrition or medication, the effects can be difficult to predict. And not left tip to the waiter will be minus in karma. Therefore, it is important to save wisely.
Still, most of the owners of bank cards confirm that the larger used amount, the more attractive bank transfer compared to the money supply, which can be quite inconvenient in terms of recounting, if not lucky with banknotes.
In addition, if you have lost your card or have become a victim of theft, all you need is as soon as possible to call the Bank and block the account. The likelihood that someone else will use your funds is almost zero. One cannot say the same about the loss of cash, in such a situation, more likely it will never be returned to you.
Increasingly, you can hear that non-cash operations are the future of monetary relations. This thesis is supported by figures: many developed countries are seeking to minimize the use of paper money by the population. In Norway, for example, percentage of electronic transactions use is 95% of the total settlements operations, to 2020, the country plans to be the world's first to abandon cash completely. First and foremost, this is a favorable trend in terms of security: banking systems are well protected, and all the fraudulent schemes in this field are brought to naught by mere compliance with basic rules.
Careful storage of the card can be referred to its safety. Due to electronic chip in the card structure, it is undesirable to keep the card near electronics and strong magnets (no need to count the one in your wallet). You should also remember that plastic card has limited flexibility. At some moment, it may not return to its original shape, and this will affect its suitability.
By the way, on the bank card, there is always address of the Head Office of the Bank, as well as its phone number. Use this information, if you have not notebook at hand, and Internet access is not good.
Financial literacy, as well as literacy in general- is quite extensive issue, and you can talk about it for a long time. We have tried to address the most important moments in money management, and we will develop this further. Remember, the better you manage money, the more money you will have.
Planning the family budget
Maintaining a household budget is a serious step towards more informed relationship with money. Accounting of general revenues and expenditures will allow avoiding ill-considered spending and accumulating funds more efficiently.It is important to accept that attempts to control budget in the head is disadvantageous. Try to record numbers, at that, recording form itself remains largely a matter of taste. You decided in the old manner to use note-book —Excel table will be perfect too. The main thing is not to keep everything in mind and it should be structured conveniently.
After selecting a tool that you like, make a table of costs. Compose it and try to follow it, in spite of everything. Such an approach will not only allow avoiding unnecessary force majors, but almost certainly will push you to austerity in varying degrees.
Preserve and enhance
No matter what they say, but saving is something like lifting barbell. Weight should be increased gradually, so as not to overstrain oneself. We think that rare person will have enough willpower to save up a quarter of the monthly hard-earned money (however we do not recommend to do it, share is too big). It is better to start with a symbolic amount and gradually raise it. From experience, the golden mean is somewhere close to 15 per cent of revenueBut in this case there is side effect.
Being keen in hoarding, the main thing is not to overreact and to remember that there are things to save on which is harmful to health or at least inappropriate. That is, of course, abandoning the new smartphone in favour of replenishing the family budget is reasonable act, but if you start to downsize in choosing good nutrition or medication, the effects can be difficult to predict. And not left tip to the waiter will be minus in karma. Therefore, it is important to save wisely.
Card or cash?
Of course, today the choice is not so tough. In most institutions — from restaurants to cash-desks of the underground — you can pay in any way convenient for you. Of course, for cash in this regard, it is difficult to keep pace with: hardly you will find yourself in a situation where you hear something like "sorry, but we do not accept cash. For service of plastic cards uninterrupted access to the Internet is required, and the seller must have registered bank account. And if the situation with the world wide web is improving, terminals on the markets and, especially, in disposal of street vendors are still a rarity.Still, most of the owners of bank cards confirm that the larger used amount, the more attractive bank transfer compared to the money supply, which can be quite inconvenient in terms of recounting, if not lucky with banknotes.
In addition, if you have lost your card or have become a victim of theft, all you need is as soon as possible to call the Bank and block the account. The likelihood that someone else will use your funds is almost zero. One cannot say the same about the loss of cash, in such a situation, more likely it will never be returned to you.
Increasingly, you can hear that non-cash operations are the future of monetary relations. This thesis is supported by figures: many developed countries are seeking to minimize the use of paper money by the population. In Norway, for example, percentage of electronic transactions use is 95% of the total settlements operations, to 2020, the country plans to be the world's first to abandon cash completely. First and foremost, this is a favorable trend in terms of security: banking systems are well protected, and all the fraudulent schemes in this field are brought to naught by mere compliance with basic rules.
Basics of card usage
In fact, card is the main key to your bank account. Although we wrote about minimal risks when loss of plastic card, one should treat it no less carefully. So, it is desirable to keep the card in a place where it will unreachable for strangers. Account number is printed on the card, and, for the sake of your funds security, it should be known by you only. We shall also add that to record PIN directly on the card is a bad idea, because combination "card + PIN-code’ gives access to your remote funds. Do not simplify life for criminals.Careful storage of the card can be referred to its safety. Due to electronic chip in the card structure, it is undesirable to keep the card near electronics and strong magnets (no need to count the one in your wallet). You should also remember that plastic card has limited flexibility. At some moment, it may not return to its original shape, and this will affect its suitability.
By the way, on the bank card, there is always address of the Head Office of the Bank, as well as its phone number. Use this information, if you have not notebook at hand, and Internet access is not good.
Financial literacy, as well as literacy in general- is quite extensive issue, and you can talk about it for a long time. We have tried to address the most important moments in money management, and we will develop this further. Remember, the better you manage money, the more money you will have.
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