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Free financial program

Family financial planning at all income levels is completely free in Quebec and Ontario

Canada - Quebec

Contact number: 15148030121

Milad Khalili

Familiarity with family economics is not limited to affluent and wealthy families. This science will have more applications for low-income groups whose incomes and expenses do not match.One of the important points in family economics is that an increase in income does not necessarily mean an improvement in the family's livelihood, but an increase in income will lead to an increase in expenses.In order to be able to manage family expenses, you need to choose someone to be the treasurer or financial commander of the family.At this point you may be wondering which of your family members is best suited for financial command?

The best answer is that everyone should be able to be the family finance manager for a while. If you are a young couple, it is better to take turns and take over the financial command of your family on an annual basis.If you are more than two and have children over the age of 18, involve them in the economic management of the family. This kind of perspective gives all family members the opportunity to be aware of small financial problems and concerns and will greatly help them to understand the situation.It is also very effective in increasing financial confidence. Especially if you are giving family financial command to your 18-year-old children for the first time, do not doubt that you have done him a great service and you have placed a responsibility on him that will be very useful in his future life.Let's not forget that every year, after agreeing on financial plans, we have to choose a commander and there is an opportunity for everyone. So be a commander and let others try this sweet experience.

Proper interaction of family members as well as prioritization of economic needs strengthens and strengthens the family economy.There should not be any belief  among family members, especially children, that only the parent is responsible for solving economic problems. Many family economists experts believe that women can play a key role in managing the family economy.In their opinion, women play a key role in managing and planning consumption patterns in the family, and in traditional societies this role was more prominent in the path of contentment in the family.

In ancient times, "consumption" was merely an economic behavior; In a way, rich people in terms of high income used more goods.

Paying attention to the position of women in the family as mothers and is known as an individual who is effective in transmitting moral values ​​to the next generation, can play a very important role in reforming the consumption pattern.If the consumption and use of consumer goods is not managed by the mother in the family, the family economy will be in trouble.Just as the role of women in traditional society has been very significant in contentment, so in modern societies it is very effective in whether or not family members tend to be consumerist. Another important point is that specific goals and sharing them with the spouse will act like signing a contract.This not only creates social responsibility, but also allows your partner to think about them and help you achieve your goals.

Another key part of designing joint annual plans is setting common goals. Ask yourself what are your goals for this year as a couple or for your children?The right answer to this question can, along with increasing the likelihood of success, lead to a better balance between your work and personal life; Something that your spouse is the best person to accompany you to achieve.Once you have identified your goals and plans, make each other responsible for implementing those plans.When you invite someone else to set your plans, you are not just expecting them to encourage you, but to let them criticize and warn you when necessary.This requires that you have the capacity to accept criticism and put aside your pride. Finally, after the annual meetings, you should check your progress at the end of each month.Finally, after the annual meetings, you should check your progress at the end of each month. In fact, although annual planning is important, it alone will not achieve your goals.Examine your progress step by step throughout the year and check the reasons for progress and obstacles on a monthly basis so that if there is a flaw in the designed process, you can change it on time.Holding these meetings monthly seems to be enough to monitor progress. Another important point to note about family financial management is the issue of shared family financial resources.

You may be wondering how to plan for family financial management? The first step in this way is diagnosis. First you need to figure out what, or in other words, the most important thing, if you do it amazingly, it will have the greatest impact on your life.For example, savings, if you do not have any financial reserves, the most important task in starting a business is this savings. You can start by asking the following questions:How to make saving automatic? How to avoid touching it? How to save a bigger percentage of your money? How can we make this a permanent habit?How can we stay motivated? For example, in the field of finance, earning 30% (hypothetical) of your current salary, completing an emergency savings account for another 12 months, writing down expenses and income, holding monthly meetings with your spouse and analyzing the results, trying to gain life satisfaction by knowing Financial factors Dissatisfaction with life or getting rid of debt can be the most important thing.We all know that the ten gold seconds that a gold medal goes to an Olympic champion is the result of many years of effort, so to do a great job in financial life, you have to work every day and, of course, focus and perform step by step. It is a definite principle.Given the content of this article, it look likes a cliché that many may refuse to read it, so in order not to fall into the trap of stereotyping, take a pen and pen right now or open a new page on your computer and write a financial activity that you want to do extraordinarily, and then using the mind mapping technique, map Draw your own path and get to work.Of course, family economists consider it important to pay attention to one point. According to them, most people are looking for a sudden increase in their income; But they do not think about savings and, more importantly, emergency savings.But the question is, will the situation always be the same? Will you always get the same salary? It is no secret that your life is full of unforeseen or uncontrollable events.

 These events can be as bad as losing an important person in life, a car accident or losing a job, and as good as meeting someone after years and proposing your dream job or having a child in full readiness or a great investment opportunity.Reacting to these events (both positively and negatively) requires a little preparation on your part.That's why you need to have emergency savings. But more importantly, how much money is enough to save to deal with these situations?There are different opinions about how much money is enough to save, and it can vary depending on the individual, their income and expenses, and general living conditions. For example, it is recommended that you have savings of at least 6 months to cover your expenses.Of course, if you have a lot of debt, especially high interest rates, you can spend half your savings on debt relief. Of course, there is a subtle point here.Some family economists also consider it economical to receive loans of up to 25% interest, given the country's general inflation rate; Of course, as long as you do not spend it on consumer and luxury appliances.Money savings to cover expenses for six to twelve months. This can be your most important financial goal and you will not pursue anything else until you have achieved this goal.If you spend your monthly salary until the end of the month and there is nothing left to save, you should start with small amounts and also bring savings into your life. We suggest you a new route to get started.

If you do not have enough discipline for your monthly savings, it is best to take out a loan and put it in an emergency account. Sounds silly? I explained a few lines above that it happens to be very wise.Of course, there are other techniques. For example, automatic transfer of money to an emergency account. However, family economists recommend that access to this account should only be possible by visiting the branch; Because we may recognize everything as an emergency from tomorrow.According to the experience, this requires high discipline. So restrict access to this account and automate the transfer to it. You need to differentiate between your needs and wants so that you do not have to deal with your emergency account regularly. Family economists say food, shelter, and clothing are needed, and the rest is up to you.You need to differentiate between your needs and wants so that you do not have to deal with your emergency account regularly. Family economists say food, shelter, and clothing are needed, and the rest is up to you. In any case, we are not supposed to have the life of early humans and only seek to meet needs.But the goal is to have a little guide to get rid of the trap that is spread out in front of you.

We can see many people who do not   meet their needs and pursue their desires, no matter what their standard of living is. Certainly a good financial future cannot be imagined for them.Certainly a good financial future cannot be imagined for them. For example, someone who can afford to buy a house in a cheaper area of ​​the city.But because of appropriate thinking, eye contact, and the need for approval from others, he not only does not buy a house in the part of the city he can afford (he can even buy and rent it) but also goes to more expensive areas and rented houses. And now that he has not been able to buy his dream home, he drives a car beyond his salary and income level.Your desires begin to grow after your needs are met, and unlike needs that are limited and quickly condensed early in life, desires are an endless chain of things that exist in the world. Cars, TVs, luxury home appliances, extracurricular classes, etc.

Let us label what we need more than luxury goods. The existence of these goods is necessary to some extent in our lives, we must finally enjoy our money; But the point to note is that our desires are initially combined with love.For example, a person may like and want to buy an LED TV. Or the same person loves and wants the Peugeot 206.But after a while, things change. After a while, he realizes that he is no longer very lovable, he just wants to. Suppose you see the ads of a very tasty chocolate and you buy it, eating the first piece is a lot of fun; But next time this pleasure becomes less and less.Of course, many of us do not realize that we do not enjoy buying or owning something, and we are constantly being satisfied by external factors, which unfortunately leads to the second part of the success curve.

We spend more money and have less fun. Identifying desires is very important, and as family economists have recommended, we must achieve the desires, but it must be in our hands.The super billionaire advertising machine is constantly seeking invention for me. Suddenly everyone needs a tablet, an iPhone, a laptop upgrade, a 6-motor washing machine, a slimming belt, and so on. Family economists are not opposed to buying these items; But they believe that you should be vigilant in this regard.The super billionaire advertising machine is constantly seeking invention for me. Suddenly everyone needs a tablet, an iPhone, a laptop upgrade, a 6-motor washing machine, a slimming belt, and so on. Family economists are not opposed to buying these items; But they believe that you should be vigilant in this regard.

For starting this process, we can make a list of all the things we bought and did not go to in the new year, things we did not use, books, training courses, a series of kitchen knives, and so on.The purpose of preparing this list is recognizing that chaos has entered our lives. Of course, organizing and re-assembling add-ons does not cure the pain. The best way to do this is to budget and stick to it.Make sure the goods are always present. If you decide to buy a device (not meat and poultry), postpone it for at least a week. This delay reduces emotions and can further investigate the price and other advantages and disadvantages.

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