Posts tagged Insurance
Important Elements of Your Personal Budget
Aug 26th
Having earned a salary, most people get surprised when they wake up with no money on hand. The reason is because they spend without paying close attention to what they are spending the money on. It is important to run a person budget which you monitor every month to check on spending patterns. There are things on the personal budget which are an option while other issues are a must. In this article I explore some of the ways that can help you structure your budget accordingly.
Some important considerations
- Accommodation – It is good to pay your rentals before anything else. You can not afford to live on the street. You are better off starving but no one will ever know. When your items are on the streets, the world will see. Landlords have specific dates by which they expect their money. They too make budgets of which your rentals may be part of the source of funds to meet their needs. You can not suddenly think that you can put your own deadline disregarding the owner of the property. If you are living with parents, set money aside to buy a piece of land to build your own house. Set this money aside in an investment of some sort which you can access one day to pay deposit for a house or stand.
- Food – Avoid buying things haphazardly. It is more costly to be in the supermarket daily looking for things that have just run out. Buy in bulk and save from discounts you stand to get. Buy food for the entire month save for perishables like bread and vegetables which you can either buy every other day. Food is critical as it keeps you alive.
- Monthly bills and services – You can not ignore the issues of rates, refuse, water, electricity and other levies that are paid monthly. Without these services you can not effectively survive in an urban setting.
- health and Medical Insurance – Save money to pay for medical insurance or for medication. This is important in that it preserves life. Medical insurance is another way to save. Like any other insurance the day you need it is the day you realize its importance. Imagine paying $3000 cash for a Doctor to operate on you than pay a little bit while most of the bill is covered by insurance.
- Education – Always invest in your own education. Buy books and pay school fees so that you extend your education. Education is an investment into the future. I have often realized that some people spend time in school and earn huge amounts later while others quickly join the job market at begin to earn very meager salaries, sometimes for life or until they upgrade their education.
- Clothing and Furniture – It is good to revamp your wardrobe from time to time and also replace the furniture in your house. This is not as important as the issues above which take precedence.
- Investment – Set money aside in an investment which brings you a reasonable return after some time. This is one way to ensure your money increases or works on your behalf while you sleep. Check the risk levels before plunging into any investment opportunity.
- Charity and Family – Reserve some money for charitable deeds such as giving to the poor and under privileged, your church obligations, the orphans and widows. You will certainly experience increase out of the giving you do. Also give to family members who maybe in need of your assistance.
3 Things You Should Know Before Setting Up a Home Office Filing System
Aug 20th
How long does it take you to find a particular bill, receipt, or document from your desk? Can you find what you’re looking for without turning over each piece of paper, digging through junk, or turning your desk inside out? If it takes you too long to find documents, then you might need an efficient home office filing system.
A home office filing system helps you to keep documents and files in a neat, orderly, and categorized manner so that you will never have to dig through piles of paper or junk looking for another file again. Here are three things that you need to know before you create a system that works for you:
1. The most efficient home office filing systems are category based systems
Arranging your files in a category based system allows you to find whatever you need much faster than other systems. For example, alphabetical systems can be very confusing. If you file documents in alphabetical order, you might put your car-insurance policy under “C” for “car” or under “I” for “Insurance Company.” In an alphabetical system, finding that policy again becomes a matter of your long-term memory, or luck. Different types of papers should go under different, carefully selected categories that make sense so that the next time you need a file, you’ll find it in a jiffy.
2. A good home office filing system is clear about what to keep and what to shred
Have you looked at the huge pile of papers on your desk lately? Have you tried sorting out what you need and what you don’t? You’d probably be surprised at the huge pile of papers that should be thrown away or shredded. When you have trimmed your piles down to the keepers, it will be easier to put them away. For a complete list of which papers to keep and which to shred from a good home office filing system, see the resource box at the end of this article.
3. Choose a home office filing system that will grow with you
A home office filing system will spare you from the frustration of wasting time and energy searching for files, letters, receipts, bills and other documents. Furthermore, as your household or business grows, a makeover of your home office filing system can save you from paying hefty late-fees for bills that are not paid on time. It can also keep you from missing business deadlines because you lost an important document in the clutter. Ultimately, it should grow with your growing needs.
