Use Budget Book for Economic Success
When the month starts, more than half of your monthly income is usually fixed – for rent, electricity, insurance, and so on. Keep your bank statements, contracts, and receipts at hand. There you will find the information on revenue and expenditure that significantly determines your budget. You do not need more than half an hour to do this. A few more minutes a day suffice to record the current expenses in the household book. Invest this time, you lay the foundation for a safe handling of your money!
You do not have to wait until the beginning of the month or the beginning of the year to start recording. You can join at any time. You do not need much – the household book, a pen and possibly a collection box for accumulating receipts! You will no longer miss an issue.
In this budget booklet you will find suggestions and examples of how to allocate your income and expenses. This is not binding in any way. The budget book is designed so that you can lead all categories according to your individual ideas.
Always give the shopping vouchers and collect them. Write your own document as a note, if no one was given to you. Keep the budget book within reach!
Set yourself a minimum goal! After two months, you can compare. After three months or more, you’ll be able to recognize your “expensive months” or special fluctuations even if a month is a patchy one, do not give up on it, having a budget book every now and again is better than not at all. Just get back in and keep it Your goal in the eye, as many issues as possible.
Animate your partner or family to join in. Take stock together and discuss the result. This spurs everyone on to find savings potential.
Paper or PC
Incidentally, household books can be very different – classic paper format, for example, with this issue, or electronic on the computer. Check which is the right planning tool for you. If you prefer to work on the computer, you will find free and easy-to-use online versions in the Internet. Without installation on the computer, the electronic Budget book can be used by any internet-enabled computer and also on the smartphone. Special advantage: in addition to a comfortable recording and a slight updating of all editions, there are extensive, individual evaluation options.
Adolescents and young adults can use the Smartphone App Finance checker to record and analyze their receipts and expenses on the go, thus keeping track of their budget. The free app is available for iOS and Android.
In order to be financially secure in an emergency, some private insurance companies are particularly important.
Private liability insurance
A private liability insurance is one of the most important insurance. It protects you from self-inflicted damages that you might otherwise pay for a lifetime. The coverage should be at least 5 million euros. Children from the age of 7 are usually insured with the parents until the completion of the initial and immediately subsequent secondary education (eg apprenticeship and subsequent studies). Children under the age of 7 are not able to take action and cannot be held liable. In road traffic, this is even up to 10 years. Nevertheless, to hedge them to z. For example, if you do not want to burden private relationships in case of a dispute, you need a rate that includes children who are unable to act.
Term life insurance
If one parent dies, this can lead to significant financial losses for the other family members. Then a term life insurance offers protection. The sum insured should be about 3-5 gross annual salaries. If necessary, the equivalent of an ongoing real estate financing is additionally required. In addition to individual and partner tariffs, there is also the so-called term life insurance “on connected lives”, with which couples can hedge each other. It is usually cheaper than two individual tariffs, but is not suitable for every family constellation.
An occupational disability insurance is highly recommended. In this way, you will secure a monthly pension for yourself and your family if, for health reasons, you can no longer work in your profession. The pension amount should be two-thirds to three-quarters of the net salary. The sooner you take out occupational disability insurance, the lower the monthly contributions. By the way: Even housewives or housekeepers can become unfit for work and should think about their own protection.
Disability protection for children
If your child is severely disabled by an accident or illness, it may not be able to earn your own income. This case is covered by a child disability insurance.