Thursday, October 30, 2008

Plan Your Financial

Do you know what are your financial condition right now?
or Do you ever care about it?
Well, you should.

For the youngsters, they will still not feeling any problem without having financial planning because their parents will support them. As time pass by, they will gradually feel the negative outcome of not having financial planning. They will start to regret for not plan their financial earlier. So for youngsters that reading this post right now. Please start your financial planning from this moment if you still haven't done so.

You do not have to go to University to learn about how to plan your financial because this knowledge can be obtain by guidance from othes, reading books or doing trial and error method. This blog is one example place to get some financial planning information.

When you think about how to do certain things, you actually already in the process of doing financial planning but through indirect methods where it happen without your knowing it. For example if you are thinking how to go to certain places, either by bus or driving your car. You are thinking about reaching to your destination faster while saving your money. That's mean you want to optimize your decision to be the best in all aspects of consideration.

First of all, you will want to search for the best way to do something in order to optimize your money usage which we will go through one by one in the later post. Then you will also find the ways how to generate income for you. There will be tons of methods to do so. It's up to invidual person to find what's best for him/her. After getting some money in saving, it's time to think what is the best way to grow them. All of these have many methods available to be apply.

Thursday, October 23, 2008

Shopping wiser

   One of the ways to optimize your spending is by planning your shopping schedule. We need to set when the best time to shops is. Without schedule, we will tend to shopping randomly and usually there will be something that we forget and need to go back to buy that “things” again. This is known as wasting and “wasting” will never be friends with “saving”.

   Firstly, you waste your time by going to buy the “Forgot to buy” things. Secondly, you will waste your money for the fuel (if you have you own transportation), transportation fee (if you are using public transport) or energy if you walk to the shop.

   Isn’t better if we just add a little modification to the ways we manage our shopping styles. Firstly, shops only when you needed it. Make a list to write everything that you need to buy. Just put the list where you can come and add new “items to buy” every time you remembered one. Gradually, the list will become bigger. When it reaches the shopping time, bring the list and make it as your checklist.

   Before going out, categories the items by “shops to go”. This is because there may be different shops to go in order to buy all the items. So, when you already categorized it, you will know which items to buy at which shop.

This is only one way that I do to save money usage. Meet you later for more sharing. =)



Friday, October 17, 2008

Let's get started!

Hi there,

In this blog, I will focus more on how to save and invest our money that we have.  About how to make money, I will explain in my other blog.

Before we discuss about how we can save money, I think it is better if we know the reason why we do that.  The question here is, "How the rich people have so much money?".  We often ask the question to ourselves and friends.  We only talk about how they make the money but seldomly discuss about the methods that they use to save money.  Actually it is crucial to plan about how we can save our money because no matter how much money we can generate, if we do not control the spending, we still cannot have the money stay and grow.  

I did always talk this scenario with my friends:

There are 2 persons, X and Y.  X has income of 2500$ and Y only have 1500$.  X like to spend money and spends about 1900$ per month to support his luxurious life styles while Y hate to waste money and only spends about 700$.  If we look at the saving that they made, X saves 600$ per month while Y saves 800$.  From this situation, we can see that even though Y have less income, he can SAVE more because of his ATTITUDE and also he plan his money well.  

The formula is very simple:

Income - Spending = Save

There are two aprroaches to save more money and which are to increase income and the decrease spending.  The easiest approach should be about "DECREASE SPENDING" and that is what we are gonna discuss here.

See you in the next post..