Saving 25 percent of the salary would be appropriate to meet the goals during a dad’s life. With this amount, it is enough to buy a house travel give education to the children and have an assured retirement according to financial experts. According to the asset management company, principal, that savings should be divided into four parts 10 percent for retirement 5.0 percent for short-term goals another 5.0 percent for medium-term goals and 5.0 percent as an emergency fund.
The firm said in a statement that in this way prepares for the future, and is also one of the first personal finance advice that parents must give their children. The most important part of any financial management is having the ability to save in the end. Facing the celebration of Father’s Day on June 18, he said that data from the National Institute of Statistics and Geography indicate that men are the head of household in 73 percent of households.
He added that managing household income and spending could be done with the help of a variety of tactics, for example through a financial advisor who shows how to grow savings through an investment fund. There are also financial applications (apps) that will provide ease to manage the income and keep a log of expenses.
Finally, rely on the savings formula: Income Savings Expenditure so that there are always resources. Principal added that the current problem for many young people is that they live economically up to date often spend money quickly because of poor personal management so the tools mentioned will help to have better money management.
With 10 years of digital marketing experience, he has worked for both large financial institutions and corporate technology and innovation. Its objective is that people have complete financial freedom and make better decisions in favor of their economy.