Financial Life Without Mistakes. Some Useful Tips.

People, who don’t think about future and do not keep records of their financial situation, often make some financial mistakes. For example: they start saving for retirement in a couple of years before it

Pension as a financial goal is rarely met in someone’s financial plan, a large number of the population do not even think about it, putting it “for later”.

In the meantime, if you want to have a pension of 40 thousand, then you need to save each month for at least a bank deposit of not less than 25 thousand for 10 years! If you remember about the pension for 3 years before the release on it, then for the income of 40 thousand you will have 3 years saving for a deposit of 130 thousand per month. Therefore, you need to think about the retirement at least 10 years before.

Another mistake is neglect of tax benefits
Not many people know and use all kinds of tax deductions. In the meantime, anyone can get to the account annually a certain sum of money if he paid for training, treatment, invested in their retirement benefits or charity. If you are buying an apartment or house, you can get some amount of money, plus additional compensation for interest on the loan to purchase of the real estate.

The worst mistake in financial life is the absence of the personal financial plan
Personal financial plan – it’s not basically the main thing n the life of every person. But its absence may lead to serious consequences in your financial life. For example, if a man thinks only about buying a car in a year, and doesn’t think about the purchase of the apartment in 3 years and the payment for his son’s education after 10 years and does not plan these expenses, it can be, that he will accumulate the required amount of money for the car, but increased sums, which he spends on transport does not allow him to accumulate an amount for an initial payment on the mortgage. As a result, he will buy an apartment with no cash down payment, with a smaller area than he would like, because he did not have enough money and opportunities for more. Because of the large credit payments he will not be able to accumulate the money for his son’s education and his son will have to enter not the best college, just because there he will be able to study free. If by that time education will be fully paid, his son will not be able to receive it at all.

The happy retirement of this person is not can be spoken about.

And all this unfavorable script has occurred only because the person in had only one goal, and didn’t have a full financial plan, taking into account the objectives until retirement.

We sincerely hope that you will avoid these mistakes and will have secure financial future!

Economic recession has made many people search for different ways to save funds and saving money expert. Other guys who already earned some cash and would like to make more, no doubt might be interested in mutual funds investment advice. Moreover, financial planning should be of help to young people as they need to arrange many things in their lives, and here financial advice for young people site can help them.

Fortunately we live in the world of high technologies. It wouldn’t be good not to use this truly unique chance. Modern Internet technologies provide us with a way to break the borders and search anything we need all over the world. Check out different social networks, review respective topics, participate in discussions in niche forums. All this will help you be well informed about the events concerning your interests. And, sign up for the RSS on this blog to keep track of the latest publications on the topic.

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