Are you saving for the future? Automatic saving, savings plan is important in financial planning. Without a plan you may not be able to achieve your financial goals. Saving 10 percent of income every month is important. Remember, the more money saved the easier to achieve your financial goals. There are several ways save percentage of monthly income involved directly into your savings account.
Write the check and put your moneyinto savings account each month. Make a money transfer via ATM and transfer wwang from your savings account each month through internet banking.
Your savings habit will be affected if you are not able to continue due to forgotten or no reason to spend money involved than keep it in your savings account.
How to make sure you follow this savings plan? It is easy, set up automatic savings. Give instructions to the bank to transfer at least 10 percent of the monthly salary from your savings account each month.
Make the transfer as soon as included salary will increase, bringing you closer to achieving your financial goals. At the same time, the money in a savings account will increase brings you closer to achieving your financial goals.
If the ability to increase yield and income increments, to give instructions to the bank to increase the amount that is transferred to your savings account.
When you manage to keep the amount of money required, transfer the money into fixed deposits or other stores give more returns.However, continue to transfer money every month into a savings account and do not stop because this may affect your savings habit. Money you save automatically can be used to achieve other financial goals.
In addition to saving, investing is vital to increase the value of your savings. How to do that? The first step is to invest in a prudent manner by setting your investment goals. There are some questions to think about as follows: –
1. What is your financial goal? Why should save and invest?
2. How much money should be saved and how much money should be invested to achieve your goal?
3. How long will the money be deposited or invested to achieve that goal?
4. How much risk are you willing to bear?
5. How much of the expected return from your savings or investments?
6. What are you willing to sacrifice in order to achieve this goal?
Have been answered the question honestly to ensure you reach your financial goals.