This economic theory gives us insight. And visualize the subject of “Financial planning” is more clear.
Many people have had an impact during this time as well. Let’s review 9 financial planning methods again.
- “Prepare money” at least 3 – 6 times the expenditure.
If you get out of work, your relatives or brothers and sisters have to have big expenses.
We should prepare at least 3 -6 times the necessary expenditures. Will make it a safe first point in life
Chen Shukchen should be kept in a safe place, high liquidity, can withdraw cash immediately. As required and with low brightness
For example, money market mutual funds Or normal account
- “Know your own way” and prepare first.
Many people neglect this place to focus on protecting property like a house and a car rather than on their own.
If the family leader What’s going on or getting bigger?
Even in this era, if we do not plan, there is enough capital, life, and health.
Not only did the income go away, the very high hospital expense expenditure could give the family a financial break.
Don’t forget to plan to protect the money you earn.
- “Set life goals” and “financial goals” of yourself
Some people do not know what to save their money for. There are no goals in life that will make our cash flow pointless.
Try setting goals that will allow us to collect money with a goal. And know what to save for And where should I keep it? How many years is it good to keep?
On the return, how much do you expect? Such as planning to save money Planning to buy assets, houses, cars, go on vacation, get married
And don’t forget to make important plans that most people ignore. There are plans for retirement, tax planning, and planning with you.
May have the right to reduce the income There is an additional income tax which reduces the tax loss and has savings for retirement in the future as well.
- “Collect before use” does not incur too much debt
When the salary is released immediately Change from Income – Expense = Savings to Income – Savings = Expenses will make at least Can control expenses
If waiting for the end of the month, it will definitely not be collected. As a rule of thumb, a good financial plan should start collecting at least 10% of your income, but getting more is very good.
Collect more, good life After this, it will certainly follow. And the problem of many working people, most people, when they start working immediately, there must be
Such as condo, house or car, as well as various brand names Therefore use the method to incur a debt To build assets as quickly as possible, forgetting to consider appropriate financial planning principles.
Good debt repayment should not exceed 45% of income, which is simple, with a monthly income of 20,000 baht.
Should not pay more than 9,000 baht, otherwise life will be difficult in the future.
- Should have a reserve income. “Other channels”
During this time many people have lost their jobs. Many people may wait for a job interview. If we have more than one income and use skill. Like yourself, earn more money, will make us survive.
Because many people cannot reduce their expenses We have to use our free time to earn more money.
- Give your money to work “Make your own money”
Put all the money that we have left In the right assets According to each situation Currently, there is an analysis from the company.
The top investment in the country to be analyzed and recommended About what should be invested during this period and what should not be done if we make the right timing in the long term
Will result in better returns if investing in stocks or mutual funds Will receive returns in the form of dividends and difference in price (buy, cheap, expensive)
But you have to be able to get the chance and you have to provide a good investment portfolio, but if you want to invest I have a certain return.
May be invested through debentures will receive a return in the form of fixed interest and principal. Including dividend stocks Or real estate That has the exact rent
- Contribute to “knowledge” for yourself always.
Now I have knowledge of financial planning and tuition for free, plus some certificates are provided on the website of finance, various investments Y o u t u b e and P o d c a s t and more.
If you don’t know anything, you can learn what interests you. Try to find free time at least 3-5 hours a week to learn. Will make you happy with all And more financial planning
- “Take notes” income and expenditures
90% of working age will have problems “Spend months and months, no money left to save” Try discipline, record daily income and expenses.
Will let you know the spending habits, which ones to pay for, which ones to spend, which ones to pay for luxury Try to write it down, it really helps to save money.
And now there is a financial app to easily and conveniently register income and expenses. Will make you think before you spend every time And try to make a income statement All year expenditure, see too.
Will see how many baht we will have left in the whole year What else can you plan to do?
- “Make your own financial statements”
Some people have been working for many years, only inspecting the health, but never examining the financial health. Do we have enough liquidity today?
Have too much debt or not? Saving us is good or not? Working for a long time, what are your assets? Try recording all the assets you have.
(E.g. bank balance, savings, home value, car, personal belongings) and total liabilities (e.g. outstanding debt, home, car, credit card)
Will it show that we have worked for many years, how much is the true wealth we have?
Calculated Assets – Liabilities = Wealth