Efficient Revenue Management
Daily we are faced with the problem to answer some of the following questions:
• How will I meet the need for food, clothing, housing ?
• How to get an education and health?
• How to meet the needs of rest and recreation?
Finding the most appropriate way to answer these questions is the main purpose of economic activity: "to satisfy the desires and Human Needs."
As human needs and desires are many and the resources for responding are limited we have to make decisions regarding the use of our cash resources, we are forced to choose, to choose between alternatives.
FACED BY THE LIMITED RESOURCES, THE INABILITY TO SATISFY ALL OUR DESIRES, we must choose between the best alternatives available, AND / OR SELECTING THE BEST USE POSSIBLE MONETARY SCARCE RESOURCES.
MORE STEPS TO ACHIEVE THE BEST DECISION:
1. Be aware of the limitations of our resources.
2. Select from all needs, those that reached to resolve given the resources we have. (Prioritize).
3. Consistent with our resources, choose the best option offered by the market to meet our needs. (Optimize).
Our decision to administer the income will always affected by the economic cycle which is the household and / or the environment, therefore, it is crucial to know and recognize the economic cycle.
STAGES CYCLE:
1. Stage of Prosperity: Growth stage where the consumer has cash resources to purchase goods.
2. Recession-Stage: Stage where the demand for goods by consumers shrinks due to lack of monetary resources.
3. Depression Stage: Stage where the lack of monetary resources by consumers is so serious that it jeopardizes the fulfillment of basic needs (food, clothing, housing, education).
4. Recovery stage: Stage in which consumers through its own law or the contribution of external actors can move to an era of prosperity controlled. Given
step and becoming aware of them is that we can do better in the purchase decision process when we administer the revenue.
Stages of
purchase decision stages to be followed by an efficient process of purchasing decision are:
1. Recognition of the need, here the consumer establishes the need for buying, triggered by a clear inner sense or by external stimuli such as advertising, social behavior, the recommendation.
2. Assessing the availability of resources, here the consumer determines the availability of cash resources for purchase.
3. Identification of alternatives, the consumer here market research to learn of attributes and prices of the product or service you wish to purchase.
4. Decision, here the consumer decides to buy or not buy, and buy, where to buy, how much and when to buy.
These stages of buying decision process will be affected by the economic cycle we are now therefore in the stages of recognition of the need and purchase decision is key to keep in mind the economic cycle of the family and priority spending.
to prioritize our spending is advisable to take into account the processes that generate costs in the family group which we classify as follows:
Processes Generate costs in the Family Group
In every family there is a set of requirements that must be met. To do this, members of the family group made a lot of shares. Of these shares, a high percentage generate cash expenses, ie expenses.
In a typical household can be identified eleven processes that generate output:
• Purchase, Production and Consumption of Food: Buy food, buy kitchen utensils, gas, toiletries.
• Use, Implementation, Maintenance and Housing WC: toilet articles, bedding, heating, rental or dividend payment, payment of electricity and water.
• Education: Pay colleges parents center payment, payment of course fees, payment sweepstakes.
• Dress and Grooming: Personal clothing, shoes, soap, shampoo and towels.
• Preservation, Maintenance and Restoration of Health: Doctors, vaccines, medicines. • Transfer or mobilization
: Vehicle Maintenance, benzene, payments transportation.
• Communication and information: phone payments, newspapers or magazines, postman and the Internet.
• Recreation and Leisure: Quota club, cigarettes, liquor, cinema, theater, concerts, cable TV, travel.
• Social Relations: Food, birthday gifts, or family visits.
• Personal Growth and others: Books, gym, hair salon.
From these processes we can start thinking about structuring a family budget, this budget should consider the priorities according to the process that is most important to the family and the business cycle that is the family and / or the environment.
MANAGEMENT TECHNIQUES FAMILY BUDGET
All management process involves five actions:
1. Plan: Action pose written neatly and future steps.
2. Organize: to distribute and manage the resources available.
3. Run: make the planned actions.
4. Coordinate: guidance and support to people involved in planning.
5. Evaluate: after a while, defined in the planning, to determine levels of achievement and correct course of action if he be not achieved as planned.
Consequently, managing the family income is neatly written plan future steps, organize resources, implement or carry out the planned actions, guidance and support to people involved in planning and then evaluating each of the processes that generate monetary expenditures.
According to this principle, you can set its own management mechanisms where the start and end correspond to the objective and evaluation to achieve this objective, respectively.
Within the world of management, household income assumed to be one of the oldest of which we have knowledge, although both techniques are relatively well known by all, exemplify some of them: Simple Techniques
with a high degree of suitability and feasibility of use that may be useful for the proper administration of family income:
• FIRST TECHNIQUE: Budget Model
budget technique is one of the options for planning the set of processes that generate typical expenditure.
"A budget indicating entrances, exits, differences favorable and unfavorable, and all referring to a period of time (weekly, monthly, quarterly, yearly). "
• SECOND TECHNIQUE:
Shopping List List of frequently purchased items this is a tool that can be used for planning purchases whether they are daily, weekly or monthly. • THIRD TECHNICAL
: Payment Schedule
monthly calendar, allows to control the pay periods, the amounts and days of cancellation to avoid the payment of interest for late payment. Leaks in the budget
Many people do not believe in the "budget" because "you never are." This is true and the reasons are generally two:
1. Amounts of money are allocated to certain items that have nothing to do with reality.
2. A number of small expenses, not covered in the budget considered negligible.
Recommendations:
• Keep track of expenses that enable it to make a budget consistent with reality.
• Consider the budget all costs, however small it may seem, otherwise it will bring in another category and finally lack of money.
• Note that the purchase is not only the action of purchasing goods or services.
is a decision-making process that must be done carefully the consumer or buyer. Consequently, a consumer is aware, do not confuse "being someone" with "having something" and before buying I understand the difference between: essential purchases and purchases expendable.
• Note that the sale, as well as the purchase is more than a simple commercial transaction. Is how to influence the decision process that should take the consumer, the seller tries to influence consumer purchase decisions. Try to convince you to order the product or service offered is essential.
• Note that grocery shopping is an activity usually comfortable and pleasant, no one rushes there, or asked, nor offers the products, you decide to appear. The truth, though, is very different, as in the supermarket, marketing experts, psychologists, sociologists and entrepreneurs have developed various strategies to make impulse purchases fall into non-budgeted. As a recommendation not ever go to the supermarket without a detailed list of the things that really need to buy, and stick to it at all times.
Some practices for indirect savings: Savings in
• Ironing: Ironing is desirable to rationalize the only once per week or when they have accumulated enough clothes. Board should be treated in hours not artificial light is needed.
• Savings the refrigerator: Open the refrigerator door less often as possible, making sure it closes tightly. Place it in low temperature hopefully not in the kitchen.
• Savings in lighting: Do not leave lights on in empty rooms. Use fluorescent bulbs in places like the kitchen and bathroom.
• Savings in the wash: Avoid washing but has a "burden" of clothing.
• Savings in water: In general, any leakage of water is money lost. Do not forget to leave your keys securely locked, especially at night. Shower in a timely manner (no more than 3 minutes.) Calefón Five minutes equals one hour of the four dishes lit. • Save on heating
: Make sure windows and doors fit tightly. Place
separate glass shades, where possible, reach the ground from above.
WHAT TO DO IF THE DEBT IS NOW OUT OF THE WALLET AND AGENT FOR YOUR HOME?
Take it easy and take some of the following measures:
1. Prepare a strategy of war economy and the whole family involved in the situation.
2. Develop a monthly budget and record all non-essential spending.
3. Analyze all your debts and sort them from largest to smallest.
4. To cancel the debt, break or return the card.
5. No tenga una gran variedad de tarjetas, evite la tentación de la satisfacción inmediata.
6. Liquide las tarjetas de crédito de a una, pague los mínimos de cada una y escoja una en donde hacer los abonos hasta saldarla, luego escoja otra y haga lo mismo.
El proceso no es fácil y puede durar meses, pero al final la sensación de no deberle un peso a nadie es impagable.
EL CRÉDITO
En el flujo circulante de la economía existen unidades económicas con excedentes de dinero y unidades económicas con déficit de dineros, ellas dan origen al mercado del dinero o “mercado de capitales”.
En la interacción de la demanda de dinero con la oferta, se determina el valor de the "interest rate" which is the value of money, (the greater the amount of money circulating cheaper value, the fewer the money supply increased in value). Types of credit
• Consumer Credit: The approval is for each individual customer with one count of money.
• Lines of credit from banks, are usually associated with customer account.
• financial credit lines: those that can turn into cash in an amount pre-approved, but not associated with a checking account. • Credit
medium of exchange to finance consumption and cash advances through ATMs associated credit line.
• Direct loans to commercial houses, consisting of the approval of a maximum amount of money for the client, which can be used in the acquisition of consumer goods, paid in monthly installments or cash.
The cost of money is not a concept we can easily perceive, therefore, grant it importance to this concept if you take a credit of any kind.
According to the types of credit, consider that: "Whoever sells
credit money is selling and that has a known value as interest.
-credit cards tend to have higher interest rates.
-commercial houses provide fewer obstacles and spot rates are usually higher. Associated
-credit lines not only have interest if not a series of additional costs money and maintenance.
CONSIDERATIONS REGARDING THE COST OF A CREDIT
1. Interest: One of the main aspects to making a good decision as to the institution with which to choose credit, is to look at the monthly interest rate.
2. Expenses of collection: Every time there is a delay in the payment of the amount of credit, collection generates an expense that is usually expressed in uf for days late and the value of the tax due (you timing of this amount) .
3. Cost Management: Collection business houses engaged in each monthly bill. Streamlining
credit purchase
regard to the family budget to buy on credit must always have debt limits. Which must be directly related to the level of monthly net income.
A person should not grant new loans when it has about 20% of their monthly income committed to monthly payments of credit with banks, financial or commercial houses.
Have a goal of "having a lifestyle without debt" does not have credit cards, do not buy on credit, instant gratification and avoid purchases of accessories you sense as unnecessary.
No matter how much money you earn, if you always spend more than you make, you can never enjoy the peace of mind do not owe money to anyone.
borrowing has no direct relationship with income, with an overhang behavior, more money makes the overhang increase further.
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