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By Holger Jungclaus (More) • Last updated on October 03.02.2024, XNUMX • First published on 07.08.2017/XNUMX/XNUMX • So far 4385 readers, 1650 social media shares Likes & Reviews (5 / 5) • Read & write comments
July 12 is always a ambivalent day for German taxpayers: purely statistically, up to this date for Taxes and social security contributions, only then do the income flow into your own pocket. It is all the more important to deal with an essential topic: an overview of your own Finance.
The conscious and correct handling of Money is extremely important. The effect cannot be rated highly enough, because with the necessary Background and valuable tips, there is finally something left over at the end of the month and can even be used for larger expenses, the Age and build up a (small) fortune.
Get a detailed overview of your financial situation. Be aware of how much you have and take regularly. Then list what you spend your money on and where you can save money.
This is the only way you will be able to assess your situation realistically. At the same time one can now rethink insert:
Then first take stock of your finances. The inventory includes:
Unfortunately, on the car is often better insured as the most valuable asset - the workforce and thus that Income. A closer look at the provision is therefore important for the inventory. Also note the method of payment (you can often save here) and the conditions for different levels of damage, both for you and yours Family.
Even if you do not have any significant capital investments, it is worth taking a look to see what possibilities there are and which are suitable for you of the investment type
After this comprehensive overview of the long-term hedge, the aim is now to look closely at the income situation and to compare the monthly expenses:
You have listed your income and expenses and now know whether something should or should remain at the end of the month - if not, do it Sinn to think about what you're spending the money on. However, there may already be a shortage on paper, so it is necessary to rethink spending.
Now you already know whether retirement benefits are sufficient and whether the standard of living is hedged in the event of a case. Is the family adequately hedged and the assets as well?
Now it is a matter of building up reserves. Because these help, in addition to a sensible overview, to secure your own income permanently and often even increase it. With the right overview, you know which expenses you can save.
Now you “only” have to implement this saving. You now know where the money runs through your fingers and where you have it clear in Eyes, what you save for. So how much should you put aside? With this comprehensive overview of long-term security, it is now a matter of taking a close look at the income situation and comparing it with the monthly expenses:
In the further course of our series in the next two days is about investment forms. You can set your short-term capital in day and time deposits, for example. Sure, at the moment, there is no sufficient interest rate, and even interest rates are already required by large investors. An expansion can not be ruled out. This will not always remain so. When savings are declining, long-term investment will suffer. I'd advise you to go abroad.
Real estate, apart from home-grown, precious metals and other things, should not be considered until you have accumulated enough capital for your standard of living. How much that should be, determine yourself.
I will make two suggestions for your long-term investment. zero bonds and shares, although I favor equities. In the long run, they beat all other investments. And they have another advantage: After the Second World War, the stockholders fared best in the currency reform. All other capital investments rank after that. For me, the focus has always been on the dividend.
With this knowledge, you can do more fundamental Ask that go far beyond the usual understanding of financial planning - namely according to your goals and wishes: is it the dream of your own house or a beach bar in the south? Is it important to you? Future of the children and leave a legacy? Even if this Set They may be far away or seem unreachable at first glance, they don't have to be. And the step towards fulfilling these plans is to take stock, because this is where the rethinking begins.
In three further articles I will give you the Basics Communicate “about handling money”.
This involves the following topics: Start with a precise analysis of your income and expenses, draw the necessary conclusions and save an iron reserve, and also deal with the fundamentals of the capital market. So armed you can get started.
Holger Junglaus is a financial expert and tax advisor. Holger Jungclaus, born in 1939, was born in Hamburg and grew up not far from the Reeperbahn during the economically difficult post-war period. The third of four children could only graduate from elementary school. At the age of 15 Jungclaus started a commercial apprenticeship in the grocery wholesaler, then went to Schwarzkopf and Elektrolux. Soon he saw no further advancement for himself. That is why he trained as an IHK accountant in the evening school in the early 60s and obtained his secondary school leaving certificate via correspondence course in the 70s, followed by training as a tax consultant. For 36 years he was the backbone of finance at Hagenbeck's zoo. To this day, the 77-year-old advises on financial issues and would like to pass on his knowledge with his advisor “About dealing with money”. All texts by Holger Jungclaus.
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