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Large pegs of the pole, What problem?

Financial problems not only experienced single with mediocre income, but also earn big boss but have a lot

Financial planners from Akbar's Financial Check Up, Aidil Akbar Madjid, said that 95 percent of people need financial planning. Not a single reality, or who have been married have problems spending to swell, while incomes stagnate.

In the media gathering of financial planning with reporters some time ago, Akbar said a number of factors that need first to be recognized in order to measure the financial condition, such as:

Debt

Reduce consumer debt and non-productive. Akbar explained, debt is divided into two namely the productive and consumptive. Is said to be productive if you buy a house on credit, but even owe home values ​​will continue to increase, and the price is higher. You buy a camera with productive credit debt can be said if the camera is used for the business of photography for instance. It means that this camera make money from a number of projects that you run.

Net worth 

Ensure a positive net worth. Assets less debt means the result is positive. Wealth someone views of its assets, and not just a luxury item owned. Asset is said to be positive if the value is still good (or decreases 50 percent) within a period of three years. For example, if you have the goods sold or the price is high and decreased slightly. So if you want to make your purchase as an asset purchase which do not fall in value.

Cash flow 

As explained earlier, good cash flow is revenue minus expenditure when it is positive. If spending is limited but still minus, find extra income from main income. Take advantage of your hobby to be a side job. Suppose for additional service providers catering, weddings, home production, or writing a book.

Emergency fund

Prepare tactical funds allocated separately, to meet the emergency needs of the very nature or necessity. Tactical fund sizes vary in each person. If you are single with no dependents, the value of tactical funds amount 3 months of major salary. If single or married with 2 dependents, tactical funds amount 6 months of primary salary. For dependents of more than 2 people, an emergency fund equal to 12 months salary.

Insurance

Health insurance is a necessity for those who work. If companies already provide this facility, you are trouble-free. But if it is not covered, health insurance allocated as much as possible. Life insurance only urge those who are married. For single people, health insurance is enough, it is associated with investments in the next point.

Investment

It would be advantageous if a single allocate funds for investment than life insurance, for example. So what form of investment? Before choosing, first separate your main income for an emergency fund in accordance with the appropriate amount of your condition. Then allocate funds for investment according to ability. Investment choice depends your needs and goals. Whether for short, medium, and long. Whether to purchase the assets, preparing children's education funds, or pension funds. If you have identified a number of these factors, you will more easily find the right investment products.

By recognizing some measure of financial condition, you can identify the root of the problem if every month is always a deficit. That way, you can find the right financial solution, of course, consultation with experts will make it easier for you.

Source: Kompas.com