Managing Personal Financial

Problem? It's a recession time! It's a doomed day! You hate it, we hate it, they hate it and even me, also hate it. No one request the attending of recession. No one pray for it. But, why? WHY we do not like it? WHY we hate it so much? The answer is because, MONEY MATTERS. Recession is the time that gives you money problem. Well, do you ever wait for this problem come into your life? Of course not. But, what your steps to avoid it? What are your actions in terms of financial management and money prudence? Herewith the simple steps you might follow in terms of managing your cash flow.

A. Planning your budget
We need to plan our budget each month we received our income first, prior to your savings. What first thing to plan is, how many cash you will use in terms of bill payment, car loan, housing rental / loan, credit card bill, utilities bill or perhaps your parents monthly money. If you do not put aside all the money to be paid out, later on, when comes to your saving or personal usage like meal allowances, transport etc, it would be harsh.
Each time you know when is your income come to you, plan it first, either using pen and notebook or you could use electronically gadget or new trend technology to assist you.

B. Controlling
Control means how you monitor the execution of your cash and compare the figure out with your budget. You need to make sure, the money spend is less than the budget you've prepared. If your money spend over from your budget, the budget planned is failed. When the plan is fail, the next time you re-plan, you will encounter the same thing. So, it is very important to control your money over prior to your budget.

C. Savings
Why you need to save a portion from your income? Why savings is really important? Sometimes, you have a thing you eager to buy for the sake of your happiness, such as clothes, perfume, IT gadget, or perhaps planning for vacation. But, think it first, either you want the happiness for now, or put the money aside for future purpose with a little bit of sacrifice? This is the time most of us forget and do not want to focus. We might think it's ok to feel the happiness for now. When you found out that your money is gone to the thing that not supposed to buy, well, bear in mind, not to re-do the same mistake in next time. Small portion of your money at this time might help you during the need or hard time in future. Think about it!