Making Sure Budget Plans Work

The pandemic has taught us a lot about how good financial management remain as a valuable skill not just for personal survival, but giving ease to the lives of your family - the closest people for you. We determine budget plans early on, with proper forecasting you get to have peace of mind yes, but in rare occasions, we all struggle. When one gets sick, incapacitated, restrictions happen and people lose their jobs, when businesses decide to close shop, these are emergencies nobody gets prepared for so it is wise you get to evaluate your budgets regularly and learn to properly make adjustments when the need arise.

Managing Finances Effectively

You need a good bank, know where you are putting savings, things for investments, for entertainment (because you deserve that too) and an emergency fund (when the unimaginable happens).


Allocate Appropriately

I always make it a point to have funds directed to a specific goal. A huge chunk of course goes to bills, food and shelter (about 50%), 10 percent goes to entertainment (if you want to go to a vacation, buy something for yourself or your loved one you need to set aside something for this purpose), then 25% goes to investments (if you prefer digital currency, bank deposits, stock market, insurance premiums or money market you need to do this early on). 15% goes to emergency fund so in times you wouldn't be able to work or pay for medical bills if you or your family gets hospitalized, you have this to get funds from. There are a lot of other things to consider and customize these rates, you need to weigh what works for you and stick to it. If you need to adjust, go ahead and make that play. You need to be a little aggressive in making sure your budget works for you.

Monitor Your Investments

Since a huge part of your funds go to investments, you need to have this checked a few minutes a day. Make smart choices if you are looking for short term ones, relax on the long term goals. You don't need to watch lines go up and down and spend hours for it, so only do it when times are volatile, and be aggressive if you have the money to do it with. Familiarize yourself with the market and slowly make your way to grow your funds. You also have to find one that fits your lifestyle. If you want to delve into business, or become an entrepreneur, pick up  a loan with easy payment terms and lower interest rates because a lot of it is out there. 

Manage Your Debt Wisely

Loans, credit card bills are of course part of the game. If you've got a lot of these, consider plans to pay more than the minimum monthly payments to reach your goal of zero debt. You can schedule payments for some purchases for ease of doing business and everyday transactions. Know when interest rates would be okay for you or not. See if you are going to benefit in the long run because remember, some loans and credits are not taxable and if you pay them earlier, it won't be too painful to see where your funds go. Give debt consolidation a try so it would also be manageable to pay for things. If you want information on that, click here.

These are what I do now in order to manage funds, if you've got one that serves the purpose, follow your own strategy and adjust when you see the need to. The market isn't constant just like change, think of more ways to grow your money and see if your budget plans work today.

The Painful Process of Eliminating Debt

It's always a bummer when I learn something like this. My friends are in debt again and they always run to me borrowing money. Don't get me wrong I really want to help them but I can only do so little. I thought they were already thru with the borrowing and excessive spending but apparently not. I'll probably recommend some help institutions because they need experts. I'm not a debt guru and it probably would be wise if they find one online. The deal is they need the best advice they can get from people who are certified to do so. I wouldn't want them to settle with hearsay or something not based on facts. The time to recover from the effects of the economic turmoil is now.

Maybe I'm doing something right because I haven't been in that situation since I started working. I may have been doing something right. I've learned to manage my finances quite early and still have more to pay for bills at home and help my folks. I've always wanted to do that and so far I've accomplished these things easily because I know how to set my goals early and strive to excel. How I do it is not an exact science but there are proven ways to do so. Listen to certified professionals and you'll probably be better off and out of debt. Who doesn't want to be free from it right?!

Have you ever been under debt? What did you do to overcome it? Let me know!

Wishing You Freedom from Debt!

Sometimes I wish there was someway I could get out of debt. I can't imagine how my life would be if I'm working just to pay an impossible debt. Doing something about this condition should be a priority so we won't be living salary to salary and end up only paying the interest than the actual debt itself. I'm not an expert but there are people who might actually do this for a living. Fixing structures and negotiating with banks is not on my resume but I would like to do this so I would not end up living a hard life. I'm still young but without saving a single centavo it would be impossible for me to become successful in the near future. I wish there were experts like J. Hass Group that would be able to help me do this. It would be a big help for those who do not know the runaround in this industry. I wouldn't want to end up being hounded by debt collectors like some friends I know.

Life is complicated and never easy but on instances that I wouldn't be able to pay for my debt I'd rather have them negotiated further so it would be easier to pay. Interest rates are too high these days and making the necessary arrangements to get these loans streamlined to a zero interest - payable in 6-12 months would be a huge help for anybody. If it would be a one time big time pay I wouldn't be able to eat or have money to work for the next month. My friends are already in this situation and I'm seeing them suffer a lot. Christmas is not an exception because they end up paying a little more because of our culture giving gifts to almost everyone we know. The bonuses simply fly out of our palms and next year we end up complaining that we're under debt more than what we used to be. Here's hoping for a year of freedom from debt! Here's to our dreams and aspiration too!

How do you handle debt?

I've been having a lot of problems lately because I couldn't think of a way to quickly pay my bills. To say the least, the quick trips out of the country have not helped at all because of the fact that I haven't eased out shopping. I need to also buy gifts for the people back at home and that's another story. Just think about how much I had to spend on hotel and ticket reservations and I'm sure you have got a rough estimate how much I owe the banks. I need debt management strategies that are above the ordinary or else I'll stay working longer hours just to pay a not so payable debt. That's just not right!

I need to stay optimistic though that even if I end up using the stashed millions I have in the bank I still could pay up what I owe in my cards and creditors. That would be the smart thing to do so I wouldn't just pay interest rates from the amount which I originally have to pay for. I have to also maximize the perks that came with the subscription too otherwise the annual fee is also going to kill me. I know I can do this. I just have to ask the experts. I should start looking for people who do this professionally too so I wouldn't have to just stay under debt when the time comes.

How do you handle debt? How do you pay for it without ending bankrupt? You should tell me your stories too!

The Philippines Credit Card Debt

I have been taking a look at what the Filipinos have been doing in this day and age because of the fact that there has been a very alarming increase of credit card debt in this country. We need Consumer Credit Counseling and seek the help of economic experts. At the alarming rate of 20 percent just this 2009, there has been significant increase that would cause worry to financial institutions because PINOYS have not been able to pay back their credit card debt that much and it will probably continue to grow unless there are certain changes in the financial guidelines set by government agencies or the constitution.

This has been the dilemma that the banking sector is facing head on because there are probably no consecration camps times considered for people who end up in debt from private corporations. In the next year, there has to be some way the President to help this industry so he could set stricter guidelines on people who literally borrow money and destroy their credit rating. This could be very detrimental to the success of a worker who does 8 hours a day in the office. Without proper guidance and management, we would end up as a nation who depends on debt and never go back to the first world country status we were in like before. I bet MARCOS will laugh in his grave if that happens; so make sure you take matters in you hands and go for a non profit organization to help you fix your credit card woes today. It pays to be financially stable even if you are young.



Disclosure Policy

Spend Wisely!

I'm managing my own money now and to keep myself in check I always keep it a point that I only spend beyond my means. Nowadays it is so hard to keep up with our daily expenses and we often forget to pay our bills until the last minute which would make our lives more hard until we get our next pay check. I know how it feels to over spend because I probably am one of the guys who spend too much on clothes, shoes and parties. I go out almost every week and dish out a couple of thousand bucks cash and a few swipes of the card. It's a good thing I know how to handle it because unlike other people, I have self control.

I've got a word of advice though for young single guys like me. If you can't pay for it anymore and you have tons of credit cards, I suggest you make your life a little bit easier by debt consolidation. Taking your financial problems into one bank can get your interest rates on a better scale. At least you are going to be charged once for your credit card debt. There are a lot of banks who would appreciate this and financial advisers would strongly recommend it. If you are in a situation where you cannot find debt consolidation loans anymore, make sure you strike a deal with the credit card provider with the lowest interest so your payment schemes would be easier on your budget. It pains to see some people are not handling their finances well when it is just simple. If you save a lot, spend within your limits and only purchase what's necessary then you wouldn't have problems with money. If you've got a better idea, let me know!

Spending Wisely

I manage my own finances and am pretty good in doing it. Maybe once a month I see to it that I take note of my expenditures and the funds that are going into my bank accounts. I have several savings accounts because that is the only way I can keep myself from using them all. I prefer a remote bank so I would not be able to go there easily and withdraw the funds. That is what I have been doing these past few years and it seems effective. I pay my bills outright and never miss any credit card payments because if there is one valuable thing I learned from my siblings, to take care of that first.

Don't get me wrong, I don't hate credit cards. It's just that whenever I hear horror stories about them and the repercussions of bad credit, I just can't stand it. I hate to watch people destroy their careers and names because they did not manage their credit card debt properly. Most financial experts say that it would be better if you only keep one credit card. That is what I'm doing now with my current bank. I advise people who are in bad debt to get some way to consolidate their debt on instant approval credit cards. After fixing their finances, they can probably start paying it up until a manageable amount appears on their bills. The next time they think of spending, it should only be within their means. A bad credit standing would only get them in trouble with the law. I suggest they find someone who can fix their problems or get good financial advice when they need it.