Money Manager 365 (the application name is provided with 365) means that you should manage your funds every day. For money to become wealth, it must be managed. Absent a clearly defined money management plan and the discipline to manage it based on proven principles, money is merely an instrument used in the “pursuit of more,” with no real destination and no opportunity for self-fulfillment. For people of wealth, having and spending more money doesn’t necessarily improve their happiness. Their fulfillment comes from having an income they can’t outlive while fulfilling their life ambitions and providing a meaningful legacy to those they love.
If you are stuck in debt. In general, the most difficult part of paying down debt is the first step. If you know that you are in financial trouble, it is easy to feel overwhelmed. Burying your head in the sand and ignoring your bank statement and payment requirements will not make the problem better and will make the situation worse. So, take a deep breath and read this article again. Once you have completed this, at least you will know the reason for the debt, and what you need to deal with to find out what needs to be done next.
Set savings goals. Some people find it difficult to obtain motivation about savings, but if you set goals, it is usually much easier. Your first step is to save some emergency expenses-if you encounter an emergency (such as a boiler failure or you cannot work for a period of time), you can rely on this money to maintain your existing life. Try to store three months of expenses in your account. Don't worry if you can't save it directly, but keep it as the goal of the goal. The best way to save money is to pay some money to a savings account every month. Once you set aside emergency funds, the savings goals that may be considered may include: buying a car without a loan, not having to worry about the bills when you return from travel, and some extra money to use during maternity leave or paternity leave. Money manager 365 come with "Money Tribe" function, it let you set monthly and yearly goal, and share it to your family, and encourage each other to achive the saving plan.
Involve everyone. Involve your family in the budget. Sit down and make a plan that you can stick to. Calculate the amount of expenditure available and reach agreement among everyone. Money Manager 365 come with "Account share" function that let you share your account to your family, and you can manage your money with family.
Get your budget back on track. If your income exceeds your budget, you need to find out where you can cut. Household expenses, bank loans, etc. You also need to keep a copy of the consumption record and write down all the goods you bought within a month. To determine the direction of your funds. Money Manager 365 come with the "Balance Chart" function, it let you find out the balance going up or going down clearly.
Using the Budget, your budget is useless if you make it then let it collect dust in a folder tucked away in your bookshelf or file cabinet. Refer to it often throughout the month to help guide your spending decisions. Update it as you pay bills and spend on other monthly expenses. At any given time during the month, you should have an idea of how much money you’re able to spend, considering any expenses you have left to pay. Money Manager 365 come with the "Budget" function, it let you create a budget base on different category,account, target amount, and date range.