Manage your finances on your computer with the best template-perez

Hello friends, today i want to share with you something amazing.
As in the previous posts,i have been talking about how to manage you finances.
today i just want to share a template with you on how you can have financial discipline by just using a simple excel sheet that will help you track your finances Annually or monthly in terms of  income and expenditures.
Try it.
https://drive.google.com/open?id=1-KlNQ7XOHDguC2h1Oc09uhzCKh8V2fjR

Solving the financial mess in your organisation.

Credit no solution to financial mess choking your firm

Financial challenges are a common problem that afflicts most growing businesses from time to time. In such situation, almost certainly the involuntary thought that comes into the mind of the owners or manages is where to get credit facility.

However, in my interactions with tens of successful business owners seeking external funding is hardly the solution.

Majority of them concede that external financing should only be sought to finance growth or marketing, not sorting financial mess already pillaging a business.

 solving financial crisis in a business
The best way to solving financial crisis in a business is to honestly establish its cause so that you can come up with a practical solution.

Most problems in business have to do with either poor management, which include failure to control costs, over expansion, failure to collect receivables and most common low sales or both.

Once you sort management issues, if they are the cause, the next thing is to embark on increasing sales. The best source of money in any running business is always revenue generated from sales. All other measures offer temporary solutions and are bound to fail if sales aspect is not addressed well.

The first step in increasing sales is to increase the leads generation.

In marketing, lead generation is the initiation of consumer interest or enquiry into products or services of a business. This is done through various ways of promotion to reach out to prospects or potential customers.

Secondly turn you prospects into customers by reaching out to them and making the proposition. The more people get to know you and your products the more you will find customers among them.

Thirdly, find out what is working for you and what is not. Mostly not all activities in business generate income for you. It could be that some products, some sales people and some marketing strategies are not profitable. Eliminate such blood suckers and throw your weight into what works.

Then improve your systems to gain from efficiency. Once you select what works, set out strategies to improve efficiency on them. For example you can add value or improve the products that are your cash cow, give your hardworking employees a better remuneration, resources and training to equip and motivate them to generate more.

Fourthly, seek ways of increasing the profit margin. One of the most effective ways of increasing profit is lowering the cost of producing your product or service, without decreasing the quality.

If you have to increase the price, then you must justify it by increasing the value.

 
Finally stay close to your customers; they are the source of your income. Focus on increasing your customer satisfaction so that they don’t find reasons to go to your competitors.

Always remember that customers are precious, hard to find and very easy to lose. It is always cheaper and easier to maintain a customer than to find one.

Details and credit: businessdailyafrica.com

Having Questions about finances?

FEEL FREE TO POST ANY FINANCIAL INQUIRIES or SHARE WITH THE ADVISOR (click on the link)

Budgeting and money Handling

Budgeting and Money handling.

Different families handle budgeting and money management in different ways. But the general goal of money management is a yearly, monthly or weekly picture of what you need to spend and what you have left over.

Benefits of budgeting

Budgeting will help you:

• spend your money wisely on the things you must have – these are your needs
• save money for the things you dream about – these are your wants
• set aside money for unforeseen expenses
• stop accidental overspending.

Working out how much money you need for everyday essentials like food, housing, utilities like gas, electricity, phone and water, transport and medical services helps you make sure you have enough for unexpected expenses and emergencies.
After you’ve accounted for the essentials and the emergencies, the aim is to have money left over to buy some of the things you want, as well as to save for your long-term goals.
Having a plan for managing your money will help you and your family avoid getting into debt. It can also help you get on with being a family, rather than spending too much time on financial stresses.
The key is sticking to the rule – never spend more than you earn.

Getting started with budgeting

One way to start is to make a table listing what you have and what you spend or owe. This is called a budget.
A long-term budget will include the following.
What you have

• Your income per week, fortnight or month
• Bank accounts
• Superannuation statements

What you spend

• Average bills per week, fortnight or month, keeping in mind that some months you might spend more than others
• Mortgage or rent payments
• Any other money you spend

What you owe

• Your credit card payments
• Any other debts

Try to budget a specific amount for savings, fun, leisure and personal expenses and then stick to it (which is usually the hard part!).

Read more about simple tools for planning a budget.

Money management: working out what you spend

One of the hardest things about making a budget and managing money can be keeping track of what you spend. Looking over previous bills can help you estimate what you spend over a week, a month or even a year.
Here are some of the spending items that you might want to include in your family’s money management plan:

• house repayments or rent
• council fees and land taxes
• food
• utilities – gas, electricity, water, phone and internet
• home maintenance and household goods
• school or tertiary study fees
• school uniforms, textbooks and stationery
• medical and dental fees
• credit card and personal loan repayments
• health, car and household insurance
• car repairs and petrol
• public transport
• personal items like clothing and haircuts
• holidays
• other things like gifts and special treats for you and your family
• entertainment. 

Money management: working out what you want to save

Making a simple savings plan means that you’ll be more likely to reach your goal of spending less than you earn, which adds up to saving money.
Here are some steps to saving money:

• Decide what you’re saving for. What are your goals? Give yourself plenty of time – saving can seem to take forever.
• Think about how long it will take to reach the goals you’ve set. Be realistic and you’ll avoid feeling pressure.
• Review the pros and cons beforehand so that you know what you’re getting into with your savings plan and what effect it will have on your life.
• Speak to your bank or financial institution if you want more advice.
• Look into other options, like asking your employer to split your salary payment, so some of it goes into a separate savings account.

If there are parts of your plan you’re unsure about, seek advice or double-check the facts before you go ahead.
 you could look into choosing a private financial adviser.

you can also visit the following link:http://raisingchildren.net.au/articles/financial_management_video.html/context/313

Manage your Finances

FINANCIAL MANAGEMENT
Financial management is very important in our daily lives.We can never be successful in finances if we have a poor financial handling mentality.
Many people wonder  why they find it so hard to save yet they earn some good pennies at the end of the month.
The answer to this question could be"poor financial management"
The biggest challenge is when one earns money at the end of the month,he/she  feels excited,ending up making unnecessary expenditures which makes it difficult to effectively plan.i shouldn't encourage you to have Unplanned expenditures because any character related to such ,affects your long term economic goals.

PRINCIPLES OF SUCCESSFUL FINANCIAL MANAGEMENT

• BUDGETING One of the basic statements in finance management is" Never spend without an approved budget." Budgeting is very important because it forecasts the level of your income,and expected expenditures to be incurred in the period. Budgeting can simply refer to the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Here, you  simply balance your expenses with your income.  

Spending Less Than You Earn

Personal financial software like Quickbooks and Tally erp provide powerful tools to help you track and budget your spending and take steps to achieve your long-term goals. If you learn to track your finances and know where you spend the most, you'll be able to control your money. "The best way to ensure that you either overcome debt or avoid it in the first place is to never spend more than you make," Perez says."
 

Invest/Put Your Money to Work

Take advantage of the time value of money. Perez gives an example: "A 21-year-old who invests $18.50 a day until retiring at the age of 60 at a 5 percent average annual investment return can be a millionaire. At age 30, the required daily savings amount almost doubles. At age 40 the amount quadruples." So save early and often, even if the amount is small.However little the money is,it is important to save it.

Understand Risk

The key to understanding return on investments is that the more you risk, the better the return should be. This is called a risk-return trade-off. Investments like stock and bonds that have a higher rate of return often have a higher risk of losing the principal that you invested. Investments like certificates of deposit and money market accounts with a lower rate of return have a lower risk of losing principal. Since no one knows the future, you cannot be 100 percent sure any investment will do well. An example, "If you diversify your investments, one can go sour without severe impact to your overall portfolio."

-Perez