Finance, Managing Your Money

Many people in the world who are working do not know how to manage their money and that is why most of them accumulate so many debts over a small period of time. Money management is the art of knowing what amount of money you have and how you are going to spend that money so that it can last for the whole month without having to incur any debts. The first thing that a person should do when creating a management plan for his/her money is to have a list of all the expenses he/she has every month.

Once that list is complete and you have checked that everything is there, it is time to find out which ones are more important and which ones can be done away with. Many people spend a lot of money on useless things without realizing it but once you have written down the list of expenses, it will be easy to spot them. Things like the house rent or mortgage, electricity bills, water bills and other house bills are very important and should be given first priority when you get your salary. When these bills accumulate over a certain period of time, they will ruin your credit history.

Paying these bills on time will help you retain your good credit status which is a very good thing. Once you have the list of expenses, you should sit down with your family and discuss about those expenses that you incur every month and decide on which items should be crossed off the list. Discussing this with your family will prove to be very helpful because you will decide on this issue as a family. Once you have crossed the unnecessary items off the list, you should now create a financial plan to help you manage your money and leave some that should be saved.

The money that goes to the savings account should stay there because your financial plan should be able to cover all the expenses through out the month. You will find that you will be very comfortable with your life in the end and you will not be in debt anymore because your money is well managed. All this depends on the type of financial plan that you have in place. IF you ave a long term goal of maybe buying a car and you want to buy it in cash, you have to start saving a certain amount of money every month in order to achieve that goal.

In order for a financial plan to be a success, one has to be dedicated to the plan and look forward to fulfilling his/her gals whether long term or short term. A financial plan is just a budget and having a budget is the best thing that a person can do because it will help you to always have your priorities in check. Many people find it very hard to stick to their financial management plan because they have developed a habit of spending money without a plan. Always have a financial plan in place because they are very important and help in the management of money.

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Debt Consolidation Using Personal Finance Management

If you are in debt and wish to get out of it, personal finance management is most significant for you. You must have fallen in debt due to your unwanted expense that you made without financial responsibility. If you do not wish to get a bad rating on your credit reports and make the situation worse, you will surely have to make a debt management system.

When it comes to debt management, an ordinary personal finance budget is not enough. You will have to make a tighter budget to find the money that is required for paying back the loans. Follow these steps to make up a good debt consolidation budget yourself.

1. Add all your Income – Add all your steady income. This means find the total earning that you will be able to make every month. You can include your salary, investment returns and other payments.

2. Add your monthly Bills – The save as above, add all the fixed monthly expenses. You can add your internet bills or loan payments here.

3. Add all your expenses – this is the section where you add your expenses that are not fixed. You can include your expenses on coffee or cigarettes in this section.

Now you have all your expenses listed out. From the last section, cut down all the expenses that you think is no necessary. You will surely find enough unwanted expenses here. Now reduce the expense that you think is less important. Now you have a renewed last section.

Now calculate the net savings that you will be able to make. You can use this money to save you from debt and credit card scams. Stick to this budget and you will find success coming your way very soon.

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Finance Management in Companies

Introduction:

It is a fact that money is the backbone of our society; it may not give us any abstract pleasure, however, it is definitely needed for fulfilling most of the necessities of our lives. Thus, managing money is also important in all aspects of the society and so finance management is a very important attribute of any business organization.

The financial management team of a business deals with the analysis, or systematic review of its commercial activities and its financing, in order to determine its ability to create value for its shareholders or to repay all kinds of debt to its creditors. The financial analysis focuses on several key issues for the prosperity of the company. Thus, all major corporations have a finance management team to take care of all their monetary needs and transactions.

What does the Finance Management team deal with?

The various aspects of a business that it deals with includes the economic environment of the company, its growth prospects, the degree of competition observed and expected, the different stakeholders and their power relationship (suppliers, distributors, employees) and finally the production tools.

If the monetary aspects of a company are not taken care off then it will not be able to function in a way which will be conducive to the overall growth of the company. The salaries of the employees, the purchase of resources, paying the support staff, paying utility bills, managing cost of production, sanctioning funds for new projects, sending invoices or bills to the clients, following up on the payments etc. are all different functions that this department efficiently handles.

Other key functions:

This department also analyzes investments to determine their status; if the investments are not able to generate the estimated amount of profit, then finance managers are expected to come up with solutions that will turn these investments in to profit generating tools. They are also required to analyze the market and point out new avenues of investments that can yield higher returns. Their main goal is to ensure the flow of cash in a way, that the balance sheet of the company can show profit and create goodwill among the shareholders.

The other important function is to manage a balance between the assets and the liabilities of the company. It is an alarming sign if the liabilities are more than the assets and so the finance management team should take preventive steps from time to time so that the liabilities can be paid off and reduced.

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Finding the Right Finance Manager Through a Professional Recruitment Agency

If you are headhunting for a financial manager, you must already know how increasingly difficult it can be to hone-in on one, especially the right one. Finance managers must possess the necessary skills to make quick decisions in particularly dicey situations and must also know how to efficiently interpret financial reports, making it convenient for company executives.

In simpler words, a financial manager plays a key role in the success of a business establishment. And with that being said, there is no doubt there is a considerable increase in the demand for specialist finance managers. And this can make it all the more difficult for you to find the one you require, which is why opting for the services of a professional recruitment agency specializing in finance manager recruitment can be a wise decision.

And here are some good reasons why you should consult a recruitment agency right now:

They will help you Promote your Job Ad

At times most employers find it difficult to hire a good finance manager because of the description they have used in their advertisement. The description could be vague or too short or could seem outdated. A recruitment agency can help guide you into attracting the right candidates. Plus, a professional recruitment firm can also help you design a competitive salary and benefits package for potential employees.

A Wider Database

Another great thing about working with a reputable recruitment agency is the fact that they have a considerably large network of industry specialists and professionals. This also means that they don’t waste any time, they don’t have to go out headhunting. Instead they get in touch with talented finance managers in their database; this database may include working professionals and specialists who are currently not in search of employment, which also means they won’t see your advertisement.

Pre-evaluation of Possible Candidates

When you hire a recruiter to find the best possible candidates for you, they don’t just forward resumes to you and leave. They take care of everything and every detail, saving you time, energy and resources. Your in-house recruiters don’t have to waste time evaluating every resume, sifting through each document, evaluating every minor detail. With a professional recruitment agency working with you, all you need to do is expect the potential candidate to arrive at your door-step, evaluated and assessed, ready for anything.

The Bottom Line

The aforementioned details of how recruiting agencies specializing in finance manager recruitment makes it abundantly clear why you should save your resources and outsource your staffing requirements to industry professionals.

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