Apr 13, 2009

Financial Evaluation, Is it Necessary?

Financial evaluation, is it important? or is it necessary? I believe it is. With the financial evaluation, we will be able to determine what steps we take for the next year. Then, how we do that financial evaluation? should we remember all the expenses during a year (from January till December last year)? No, there were three important things you should evaluated during whole year :

Your income
          How much salary you receive each month? how much income you get from other resource? or maybe the  income you get from your invest, such as : deposits, property, holdings, etc. Record all the revenue or your income that you have each month.

Your big expenses

         Record all of your big expenses during a whole year last year, such as : holiday, bought electronics, and bought other big material or other expenses which is cause a lot of money to spend. Thus, for the next year you will be more careful to pay a large amount of expenses.
 
Your investment

          Try to remember, what kind of investment you did during the last year? Whether it is a deposits, purchased for foreign currency, gold or any other investment. Records it and think, is it  the right investment or not. So, you know whether you continue that investment or not.

With the financial evaluation you know how to manage or control your family financial and you can  take a decision what you should do for the next year. 




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