Do-It-Yourself Financial Advice

I thought I would share with you what we talked about, others can learn of serve.

Feri is a cleaning company in West Hungary, with 15 employees. A small savings has over fifty million and worried about what will happen to the savings of the current uncertain situation.

The company works well, but it is a serious problem that the existence of the company depends on a few large contract with customer.

The total savings, as the company holds a single account and funds, local savings cooperatives. So if your savings is bankrupt, as the savings Jógazda not so long ago, you can save all frozen, even the company can not pay for either the suppliers or the employees.

This is another strong argument to be quite modest rate of savings is currently ticking the bookings 5-6-7%, respectively.

I suggested Axa VIP account, there can be achieved without a deposit 8.2%. Of course, we do not Axába all the money, but now find easy to tie up another 8%.

(This step is available rate on the difference we were looking for approx. 800 thousand per year.)

The company also pays account for 30 thousand forints a month. This is because the local pricing and savings is the fact that the cleaners would like to receive their salaries in cash, which is not only inconvenient and time-consuming Feri, but the cash withdrawal is expensive.

That is why I proposed to him to talk to her female cleaners for a free account workers. They get their money and can add the first vending machine free of charge.

He also advised him to copy off the last monthly business bank account and enter the local banks Small Business reference that calculated by reference to these numbers and withdrawals in addition to what would be the cheapest for the business package.

In such a prediction, it also saves 20 thousand per month. This is another 240 thousand a year.

The corporate account is currently HUF 8 million, which was only able to pick up in April. The average amount of 4 million account, it does not get anything interest.

I suggested her to open a money market fund and transfer this money into it, even if you only get 6% annual interest, another 240 thousand were found. Money market funds have written here.

For tax reasons it is not their own account, but also his mother and the wife's mother's account also hold significant sums. What you did not think that if the 80-year-old passenger dies, this amount will be part of the inheritance, the law and brother in law are demanding it. That is why I told him to death today provisions, which may prevent this. From this I have written here.

Do-It-Yourself Financial Advice

One good friend dragged her to a life insurance scheme, annual fee of HUF 500 thousand, which has already been paid for a year and now should be the next one. The conditions of the insurance downloaded from the net, from which we learned that the first three years of deposit (1.5 million) of insurance lure away 930 thousand.

This means that if you pay the next year, another 430 thousand falls. I'd rather put up with the loss of 500 thousand, 430 thousand more than fail. From this I have written here.

He was worried about the bankruptcy and nationalization of the bank's deposits and wanted to take a good portion of money abroad. I wrote here, the nationalization here. We agreed that the State bust will be signs such as failed government bond auctions, in addition to high yields, so watch how they were successful in these auctions and we have time then to act if several auctions have failed, or they knew some of the original plans will only sell high Due to the expected return.

For safety's sake you open an account abroad, but does not switch the forint with such a high euro exchange rate, because if you will the IMF agreement and / or in person at the head of the country's exchanges, will much of the forint.

Did you have everyone in the family term life insurance, for example, he paid 90 thousand a year to HUF 3 million life insurance. I told him where to get half three times as much insurance money. This one is spared 50-80 thousand per year for the family. From this I have written here.

There was also an eight-year-old building societies, which are also not big party. From this I have written here.

Feri even greater interest yielding investments as well. We talked about that if you are sure you feel like it, a couple of million doing a well-diversified portfolio of US small business the raw material, the I sample what it's like every day's worry that it is the oil, fell to the Chinese stock market and what's news In Brazil, all in Hungarian bank interest than the current maximum of 3-4% plus.

A two-hour conversation could save a few million, it seems worth it to see.

Before tell in my mailbox, "Lecce meet with me," leaves, please read the address entries. That you yourselves ye may be able to make such decisions, and not that I do not have one evening off. :-)

I would like to write a few of these entries, then you too will be able to review their own.

In the meantime, read the blog carefully, you'll get answers to many questions.

Do you agree? It would complement? To argue? Have a question? Do not hesitate to describe the review with the comment.