» Expense management http://www.mscapitalist.com Mon, 06 Sep 2010 21:44:01 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 How to create a family budget http://www.mscapitalist.com/how-to-create-a-family-budget http://www.mscapitalist.com/how-to-create-a-family-budget#comments Sun, 22 Feb 2009 07:18:30 +0000 Capitalist http://www.mscapitalist.com/?p=61 budgetCreating a family budget is considered to be of utmost importance. Not only it helps you to maximize your earnings, but makes sure that you are able to fulfill all the needs of your family. Besides that, it also comes along with a satisfaction that you have used your money sensibly.

To create a family budget, you would first require assuming a strong financial standpoint. Budget is always aimed towards future but then you need to realize that a stitch in time saves nine. You must carefully spend your money now to build up your savings for future. Another way of creating a family budget is to be in absolute command of over your finances.

After you have created your family budget plan, jot it down somewhere. This in turn, would help you in consultation of your actual budget with your estimated budget. Creating a family budget would ensure you a stable future.

]]> http://www.mscapitalist.com/how-to-create-a-family-budget/feed 0 How to Cut Your Expenses by Thirty Percent http://www.mscapitalist.com/how-to-cut-your-expenses-by-thirty-percent http://www.mscapitalist.com/how-to-cut-your-expenses-by-thirty-percent#comments Mon, 16 Feb 2009 10:33:32 +0000 Capitalist http://www.mscapitalist.com/?p=55 expenseMounting expenses and budgetary constraints are two of the most common characters of a middle class family. But it is your onus to save for the dry days of life. It might be your child’s education, marriage, medical emergency or even days of unemployment (more pragmatic case since recession).

This is why you should look to save at least 30 percent of what you earn. There are plenty of ways to do it. Make a piggy bank and put in some 30 percent of your income each month and promise yourself not to touch it at any rate.

Better still, ask your payers to put in 30 percent of your salary in a saving scheme prior to handing it over to you. You might also ask your bank to keep 30 percent of you salary in a lien and allocate only 70 percent for disbursal.

]]> http://www.mscapitalist.com/how-to-cut-your-expenses-by-thirty-percent/feed 0 Covering Unexpected Expenses http://www.mscapitalist.com/covering-unexpected-expenses http://www.mscapitalist.com/covering-unexpected-expenses#comments Sun, 08 Feb 2009 09:10:14 +0000 Capitalist http://www.mscapitalist.com/?p=45 money“Life is what happens when we are busy making other plans.” The idea is to get adequately covered so that you can meet out unexpected expenses when they present themselves. It can be a medical emergency or a mediocre basement leakage. Emergency expenses can come in anytime and it’s so much more comforting to know that you can tackle them.

Establish an emergency fund. You can do so through deducting a percent of your monthly income and saving it. You can ask your bank to disburse only 70-80 percent of your salary to you each month. This can help with saving the remaining 20 percent. It doesn’t matter if you’re an Aviva executive with a lucrative salary or a CSR on minimum wage, having an emergency fund can help you through difficult time and at the same time change your life.

Open a savings or a recurring deposit account with a bank. This way you will be forced to save. Invest money in fixed deposits, life insurance, national saving certificate, mutual funds and stocks of blue chip companies. You can take money out in most of the cases to meet unexpected expenses.

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