How to manage family finance

Family financial planning scheme and family financial planning, only from the reality of family financial planning, take the following key "eight steps", family financial planning can really be targeted, scientific and overall planning, know fairly well:

The first step is the necessary liquidity of assets. Including demand deposits, time deposits, government bonds and money market funds. Under normal circumstances, the money should be at least three times the income, but the average family should hold a higher multiple than this, especially the current middle-aged families. Therefore, this multiple is determined by the situation that each family meets daily expenses and prevents unexpected events and speculative needs.

The second step is to make reasonable consumption expenditure. The primary purpose of financial management is to achieve a stable and reasonable financial situation. In real life, learning to save money is sometimes easier to achieve financial goals than pursuing high return on investment. It is suggested that the household income and expenditure structure should be roughly balanced by planning daily consumption expenditure. Generally speaking, the household debt ratio cannot exceed 25% to 30%.

The third step is to have sufficient educational reserves. "No matter how poor you are, you can't be poor in education." Parents have spent most of their lives trying to give their children the best education. According to statistics, from the birth of the child to the graduation of the university, all the expenses are basically between 400,000 and 500,000 (excluding the expenses for going abroad). It is best to prepare a certain amount of special education funds before the child is born, because this kind of planning is rigid, and it is appropriate to give priority to steady investment in the implementation process.

The fourth step is complete risk protection. In a person's life, risks are everywhere. Risk management and insurance planning should be adopted to minimize the losses caused by accidents, better avoid risks and protect lives.

The fifth step is reasonable tax payment arrangement. Taxpayers often want to minimize their tax burden while fulfilling their legal obligations to pay taxes. We can make full use of the preferential and differential treatment stipulated in the tax law by pre-planning and arranging taxpayers' economic activities such as operation, investment and financial management, and appropriately reduce or delay tax expenditure.

The sixth step is reasonable investment planning. Facing more and more investment tools, such as funds, stocks, margin, QDII and so on. And a dazzling array of investment projects, ordinary consumers are easily dazzled and confused. A more scientific approach is to give it to a professional financial management team or person, and use the most reasonable investment tools to help them complete the value-added process according to their financial management goals and risk tolerance, and finally reach the level of financial freedom.

The seventh step is long-term pension planning. With the improvement of people's quality of life and medical level, the problem of providing for the aged is imminent. But most people retire at 55 or 60. What if they stop working for 20, 30 or even 40 years? Income drops sharply, even disappears, and can only be maintained by previous savings. Therefore, it is necessary to plan personal pension in advance to ensure the quality of life of the elderly.

The eighth step is the distribution and inheritance of assets. It is necessary to minimize the expenses in the process of asset allocation and inheritance, rationally allocate assets, and meet the needs of family members at different stages of family development; It is necessary to choose the tools of estate management and formulate the scheme of estate distribution to ensure that family property can be passed down from generation to generation in the case of death or incapacity.