To manage its accounts without concern

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What is funny with the money it is that occupies our thoughts regularly that one misses some or that one thinks about it of having too much of it. I noted that many people are not at ease with their personal finances. They do not know how to organize their accounts and their means of payment and feel persecuted by publicities for super-booklets or the telephone call of the banking adviser. If the last time that an online banking made a publicity for a booklet with 5% instead of 2% for 3 months and that you spent 10 minutes to think of the question it is that your accounts are not under control. So after accumulatehaving hard accumulated 3.000 on your booklet has, you panic with the idea to hold such a sum, it is that you do not know what you made.

Do there exist simple solutions to manage its accounts? Fortunately!

When I started to have money I made like everyone: I listened to my banker. The problem with that is well-known: in the worst of the cases its recommendations make you lose money (but reassure you for him: it always gains some) and in the best you did not learn anything on management of your money. Quickly I wondered why listen to somebody who obviously did not know my situation (and which in more of fout like its first stock exchange crash). Its councils were always solutions produced even of the packages houses. When he wanted to direct me towards financial placements as of Sicavs or an insurance life, he always proposed those of the house to me and made me a so summary presentation of it that I wondered whether he knew some more than the commercial plate in beautiful glazed paper. The accounts which I opened at the time, because I knew that they were regulated, (a kind of protection anti-moron) were traditional Livret has, LDD and PEA. Let us add to that I did not find either logical to listen to the councils of somebody who gained little money by exerting a job of employee.

In short, a few years ago after having filled Livret has and LDD (what apparently not badly of people of my age did not make) I was obliged to act and to become my own banking adviser.

To manage its accounts for the null ones

In spite of my will, I did not find practical advices on how to make to organize my accounts. In the best of the cases, I found presentations technical of the various products: can the CPF also beings of the FCPI, the FCPR or the Super FCPE, and me I do what? is the PEA a tax envelope making it possible to invest on the European markets GNé?

Why is this so difficult to receive a saying council Pay you initially, constitute you a precautionary saving then invest in projects in conformity with your objectives?

Not need to be an old bald person to know to manage his money

When one thinks of the money, one often imagines an old bald person having knocked about the world and whom can tell us the secrecies drawn from his long experience. If I think that the experiment has value, I also know that there does not need to wait to have lost its hair to know of what one speaks when it is about money. Often, these people are disconnected from the real concerns which one has with the daily newspaper.

Action plan

Here the best plan than I currently know: attention it is so simple that you will not have any excuse not to follow it.

1 - To have a precautionary saving

What precautionary saving? It is an amount of money available which you can mobilize to face unforeseen. Instead of borrowing money from 20%, you will type in this reserve: infringment, washing machine to be replaced, medical expenses, car to be replaced

How much?

All depends on your situation but the general idea is to have 6 months of wages for an employee and a year for an independent contractor/.

But I make how to store one year of wages?

Save! Several ways are possible and often the 2 are good to take: to seek to gain more by taking value for its market and to spend less money with the daily newspaper without depriving itself are the 2 levers.

Generally we have much evil to take retreat on our own situation. When it is about economy, it is often difficult for us to become aware of the small daily wastings: there is surely a greater room for maneuver than you imagine it.

As it was often done to me noticed, I have a naturalness which believes in the capacity of each one to raise mountains. However I am not naive: if you do not manage to find a means to constitute you then a precautionary saving the seeds of the richness are not in you. Do not seek further, do not read any more of the blogs and the books to the shovel: start with you to take in hand.

2 - To invest

Then, one sat on a small gold mine? No panic! Do not forget that one of the rules of bases to become rich is not to lose money by making stupid things.

It is only the beginning. Now that your precautionary saving is made up, you have the possibility of progressing on the scale of personal finances and of reaching the level 3 about which I had spoken: to be able to take risks and to try to carry out your potential.

To invest is very vast. For one they will be placements on the financial markets, for the other it will be rather of the rental investment.

What attracts you? The choice is of course not limited to these two options. You can also invest in your own business or that of the others.

Once you have what to invest, use this money as well as possible. Some of your choices will bring back 5%, others 15% and can be that the different ones will make 50%. It does not matter, the important thing is to act and learn.

3 - Optimize its accounts

As your financial standing evolves/moves, your accounts will have to evolve/move with you. At the beginning, I had little money and thus little need: a simple credit card was enough for me. Thereafter, I chose a free credit card proposed by Oney then, the situation changing, I passed to a Visa First (still free). The structure of my accounts also evolved/moved: I have now several bank, of the automatic transfers in place and I know near whom to get information when I need some.

Are your accounts with the measurement of your ambitions? With time, I discovered something of simple: if the prospect to connect me to the site of my online banking or to carry out an operation on my accounts rejects me, it is that the thing is unsuited to my situation.

Take your accounts in hand. You must all know of them because they will enable you to have the freedom which you hope for.

4 - To have projects

In other words: to finance a lifestyle.

You know that for me the money is nothing as tel. I do not grant any capacity to him on my life nor no affection: it is simply a tool with my service.

Which is the lifestyle which you want to finance? The choice is so vast that to enumerate them would be insane: to take its retirement at 40 years, to take 3 months of holidays per annum, to exert a passion part-time, to finance the dream of your children, to acquire the house of your childhood

You have a project (implied other that to work up to 60 62 65 70 years)?

My first project was of living one year abroad and it is the money which made this possible. Which is yours?

Published on May 11, 2010 by Michael.

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To be mown or to be poor

To be mown is a temporary state. It is an unquestionable lack of money but it is a physical status not mental: your accounts are empty - or almost. Any contractor can think that it is mown but never that he is poor because he has a talent, a knowledge or an energy which early or late will remake of him somebody of easy.

To be poor is a durable frame of mind. That conditions your purchases, your search for safety, your investments (if you of made!) and your lifestyle choices. The poor one is exceeded by the events. It is lost with the right in the middle of its own budget. It does not include/understand what is the money.

You can be mown without being poor but much are simply poor.

It does not matter where you are, always think of acting like one mown rather than like poor.

When there is a desire to satisfy, mown will say: How can I offer it? whereas the poor one thinks: It is too expensive!.

When there is a gift to make, mown will say: How to make a super gift for a minimum of money? whereas the poor one thinks: I do not have money for a gift!.

When there is a gift to make, mown will think: Even if I have little, here always what to return to you a little less needy whereas the poor one thinks: Bastard of poor! And me, which gives me?.

When there is a formation to follow, mown will reflect: How can I make profitable it? whereas the poor one thinks: All of the robbers, it is too expensive! I will even seek by me.

The difference is subtle. Why choose to be poor when one can simply be mown? Because mown is not locked up under its own condition. It does not make a its financial position a standard justifying all its decisions but it recognizes that it is a problem to be solved without making a mountain of it.

Published on May 4, 2010 by Michael.

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Share your discussions with the pseudos financial advisers

If there is a field where your personal finances can take a cost of it, it is when you meet financial advisers who do not ensure. Having one will have fed by the asymmetry of information which reigns between you and him, a bad adviser can make you lose much money (the shareholders losers of Natixis are to feel sorry for)

I had reported a long ago my meeting with an adviser in management of inheritance which had appeared instructive as well on the techniques as on the bottom.

That it is in a banking network, independent or working for a promoter the advisers are a point of passage for each one among us.

Today I propose a thing to you: share your experiments and learn from that from the others.

How did your last meeting with a financial adviser occur?

Published on Apr 13, 2010 by Michael.

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7 days to optimize your personal finances

This month With crossed blogs proposes the topic to you 7 days for and I naturally chose To optimize your personal finances .

To have its accounts under control is the best means of managing to achieve its non-financial goals: when your money works for you, it releases you from the material constraints, it makes it possible to build a financial wall around your family and to finance your dreams.

Personal finances are the base many decisions: can I change work? Where to live? Can I go to the restaurant this evening?

If you think of it well, it is perhaps one of the principal constraints of your life. 2 will be always found or 3 lit to praise us the virtues of frugality and because of living chichement and even if on-not to consume is important, its effects on your finances will be limited.

What I propose to you, it is a simple and synthetic plan to optimize your personal finances. How does one pass of not managed accounts (probably in a worrying state) on controlled accounts and which become an element of support for your life?

Follow the guide!

Day 1 - To make the inventory of fixtures

Which is the financial statement? Do you have to flat pose your inheritance and looked at the state of your accounts ?

Do you have to refund a credit and to choose a strategy?

Spend the first day to make an inventory. Count.

What do you have in your possession? What is not yet with you? How much do you have to pay each month?

The key component that you must obtain, it is to know if your inheritance increases or regresses each year.

Day 2 - Define your objectives

What do you want to achieve? How much do you want to place in saving? Do you have a solid precautionary saving ?

Describe your monthly financial objectives by using the following elements:

• amount to be saved
• amount to be invested
• amount to spend in leisure
• amount to spend in a forced way (rent/transport)

Does Y' have stations which must progress? Others which have to decrease?

Day 3 - Cross in bacon

Identify the expenditure most important to remove.

In the order of importance one always finds: housing, transport and food.

If there is a station on which you must pay great attention to quality, it is the food. You do not resign to eat badly under pretext which you have little money because it is an essential component of your frame of mind.

Identify all the subscriptions of which you are useful yourselves little - cinema, sport, television and cancel them. Prefer to pay with the use even if it is more expensive than with the subscription. It is very rare that one exploits really the subscriptions which one takes.

Review the useless expenditure of the daily newspaper, made a reflexion around frugality.

Identify all the subscriptions with the magazines and made choices: ideally should have only one or two of them to you. Prefer the services of press review if you must make day before on a particular sector.

Day 4 - Optimize your accounts

You simplify the life by having means of payment adapted to your objectives. Create several savings accounts to help you to identify your projects.

Choose a bank which renders service to you. Do not pay any more your credit card.

For each project of importance like a voyage or the vehicle purchase create an account dedicated and feed to it each month, even modestly. My current bank, Boursorama Banque, enable me to create an account saves in 3 clicks on line. I thus have an account by project whose cost is > 3000 and whose horizon is with more than 6 months.

Simplify your manner of managing and stop juggling to avoid the expenses or to give pleasure with your banker. Your accounts must be controlled. They must support your personal projects and anything to cost you.

Day 5 - Save

Feed your savings accounts. Best remains to set up an automatic transfer since your current account at the beginning of the month. Envisage 10% of your incomes.

Review the solutions for your saving.

The saving must be the first expenditure which you must make each month, before even paying your rent. You must save and to invest before pay your undergone expenditure. If you are not able to make it, it is that you live with the top of your means.

The ideal is to program one or two transfers towards your savings accounts to constitute you a sufficient precautionary saving: 6 months of current expenditure to your current train. Then pass to the following phase:

Day 6 - Invest

Envisage 15% of your incomes and place your money. Very personal, the supports of placement must be selected carefully. The current careful solution remains the life insurance. Even if the interests are modest, it makes it possible to profit from a protected placement (on the bottom in euros) and to put the foot to you at the clamp. The general rule, it is that the younger you are, the more it is necessary to take risks with your money. What it is necessary to avoid, it is to find itself at 50 years to play out of purse to try to catch up with all the investments that you did not make before.

Invest immediately: earliest will be best. Einstein said that the made up interests were a not easily comprehensible wonder for the human brain: it is one of the rare factors which can return somebody of modest but of disciplined rich in 40 years.

Day 7 - You reward

If you applied this plan, that your accounts are under control, your means of payment are simple and free, that you save and that you invest before paying your current expenditure you deserve a small reward well.

It is the occasion to celebrate your engagement by pleasing to you - that is while spending of the money or not. Really do it: you authorize a gesture which pleases to you. To have optimized accounts, it is well but to benefit from the life it is still better!

Published on Apr 7, 2010 by Michael.

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