How do you determine which financial management methods are right for you?

With the rapid development of economy and society, people with money and leisure will travel anywhere, and many people will choose money to make money. Nowadays, there are a variety of ways to manage money, so how do you choose the best one for them? Whether it is a bank, a ** company, a third-party financial institution or a ** company, when starting financial management or investment, you need to take a risk ability test.

Through the risk aptitude test, we can assess which category the investor belongs to and recommend investment products with the appropriate risk level. <>

In addition to risk tolerance, time and energy commitment is also an important criterion. For example, they are also active investors, but some people have enough time and energy to spend a lot of time researching financial products or investment products, so the investment products they can choose will be very different. Those who have the time and energy can choose to invest in real-time, while those who don't have the time and energy can invest their money in it and indirectly through it.

Change your mind and don't always talk about running out of money. Calm down and think about a few questions: How old are you now?

How much? How high is the risk? How much do you know about financial management?

Do you have time to study hard? Can you stick with it? After thinking clearly, you can gradually understand various financial management methods, such as **, **, P2P, and so on.

Financial management itself is a very individual need, and everyone's situation is different. In the meantime, some of the hot hype should be stopped. Some of the publicly reported information is indeed useful for investment and financial management, but some of the attributes determine their pursuit of a striking feeling.

The more negative the news, the more interested and willing to report. Therefore, don't lose your objective judgment by seeing some ** unfair reports.

When it comes to how to judge, there is certainly no one who knows yourself better than your qualifications, and you have to judge for yourself what type of investor you are, and whether you are bold and willing to take high risks? Or do you prefer to be safe and low-risk, and after you have your own judgment, you can make a choice.

I've only tried a low-risk way here, like Yu Yu Bao, bank financial management, stability is not said, but the relative income is indeed slightly less, rarely has an annual interest of more than 4%, to say low risk, the return is relatively OK, there are a lot of emerging foreign trade financial management platforms recently, for example, the model of the national foreign trade platform is mainly through the export of goods to earn profits, and the financial management model of Internet finance is different, you need to place an order on the platform**commodity,** The export and sale of goods are handled by the company's subsidiary Starday** operating in Japan, and users only need to wait 30 days to get back the principal and get the profits, which is still very profitable. You can go find out.

According to your own assets and your own investment hobbies, you can choose the financial products that are suitable for you.

The first thing is to look at your ability to resist risks, if your ability to resist risks is particularly high, you can choose some higher returns, greater risks to manage your finances.

Financial management should be chosen according to each person's specific situation, such as long-term and short-term, for example, the pursuit of high profits and high risk, or products with small profits and low risks? If you don't know how to judge yourself, you can go to the staff of the bank's wealth management department to recommend you.

When faced with a variety of financial products on the market, many investors do not know which product is suitable for them, nor do they know what factors need to be considered when investing in financial management. In this regard, financial planners have given 5 reference standards to help you find a suitable investment and financial management method for you.

1. Overall financial situation

The overall financial situation includes personal income, savings, etc., and how much money can be invested.

If a person has a stable job, a high income, and a lot of savings, then the range of options will be wider; If a person's income is not high and his savings are not much, there are relatively few financial management options to choose from, such as some products with a threshold of 500,000 or 1 million.

2. The age group you are in

People need to consider different ways of managing their finances at different ages.

If you are between the ages of 20 and 25, you may not have much income at this time, so what you need to do is to strengthen your savings, and you can choose to put money in the bank or currency**;

When between the ages of 25 and 50, many people have their own families and their economic conditions have become better, so it is necessary to protect the family, allocate insurance appropriately, and make other investments on this basis;

After the age of 50, you have to plan for your retirement. At that time, when the income is reduced, it should focus on prudent investment.

3. Personal risk appetite

Risk appetite is actually a constraint for investors when choosing financial management methods, and different types of investors will choose different investment products.

For example, there is a big difference between risk-averse investors and risk-averse investors when investing in financial management, the former prefers financial management methods such as ** and **, while the latter prefers products such as bank fixed deposits and treasury bonds; Risk-neutral investors in between the two prefer products like Jia wealth management platform, which are also Internet financial management, but the risk is much lower than P2P, and the investment threshold is low and the income is stable.

4. Mastery of relevant knowledge

Financial planners pointed out that investment and financial management is a technical job, no matter how much money there is, what the risk appetite is, you should also consider relevant knowledge when making investments. Mastery, as much as possible, choose the field that you are more familiar with.

However, if you are a beginner, you need to learn more about the risk level and investment threshold of different products, and you can start with some basic financial management; For investors with certain experience, if you want to change investment products, especially for risky products such as **, you not only need to do your homework, but also the investment amount should not be too much, just try it first.

5. Reasonable asset allocation

In the long road of investment and financial management, the allocation of personal assets is to change with the changes in market conditions and personal circumstances.

In addition, "eggs cannot be put in one basket", it is necessary to pay attention to diversifying funds and reducing risks. When these two points are reached, a reasonable asset allocation is truly achieved.

In fact, wealth management is not only about buying wealth management products, but also a systematic process around family wealth management. Investment and financial management is an indispensable and important part of the whole family's wealth management, because only by learning to manage money and continuing to do it, you will find that the quality of life will continue to improve and reap the surprises brought by financial management.

Set reasonable financial goals and methods, and set yourself a "profit" goal every month. Combined with the actual situation that can be completed, such as a monthly "profit" of 1,000 yuan or an annual profit of not less than 10,000 yuan. In this way, the monthly salary is deducted from the profit first, which is the money we can use at our disposal, which will avoid a lot of blind consumption.

If the annual living expenses of a working family are 50,000 yuan and the annual inflation rate is 3%, then in 30 years, if the family wants to maintain its current quality of life, the annual living expenses will become 10,000 yuan.

The investment horizon is the most important thing. Suppose you start to invest 1,000 yuan a month from the age of 30, calculate the yield of 9% per year, and save for 30 consecutive years until the age of 60, and the income is 1.78 million. But if you start investing at the age of 40, invest 2,000 yuan per month and invest for 20 years, the income is only 1.34 million!

Just postpone the investment for 10 years, even if you invest an extra 1,000 yuan per month, your income will still be reduced by 440,000 yuan! Therefore, compound interest has a good effect, and time cannot be less.

Judging from the current situation, the pension wealth management products launched by various banks have three important characteristics, namely:

First, the financial management cycle is long, with a term of 3-6 years; According to the statistics of Puyi Standard, the average investment period of the 152 pension wealth management products issued in 2019 exceeded 1 year, reaching 428 days, while the average investment period of ordinary wealth management products was only 185 days.

The second is the flexible design of the financial management period, such as the 6-year term can be opened after 2 years; For example, the "Sunshine Gold Pension No. 1" closed-end wealth management product issued by Everbright Wealth Management will return 25% of the shares to investors every year after its establishment two years to achieve short-term liquidity arrangements under long-term investment goals. Bank of China Wealth Management's pension wealth management adopts the "3+1+1" term independent selection model, the first closed period is three years, and it is open once a year after the end of the closed period, and the duration is five years.

Third, the interest rate is relatively high, which can generally reach an annualized rate of return of 4-6%. Some of the 4-year period is relatively higher than the income of the general bank wealth management products, especially after the current yield of bank wealth management products has entered the 3 era, 4-6% of the financial management performance is still more attractive.

Judging from the above three characteristics, it seems that there is no fundamental relationship with the basic characteristics of the pension security, especially the risk level R1R2 or even the risk level of R3 is not enough to explain the applicability of pension financial products.

It's not enough to just put money in the bank, you need to learn how to manage money, especially to learn the right way to manage money, the wrong way to manage money will only make you poorer and poorer. First of all, we must make sure that we can make money, save money, and invest.

As a member of the general public, our main income is wages, and the more we earn, the better. And income is growing naturally, after all, the level of social pay is also rising, and I believe that there is no young person who does not want to be promoted and raised.

Being able to save money cannot be ignored, if it is a moonlight family, it is impossible to have the start-up capital for financial management. Therefore, a certain amount of planning and moderation is required when consuming, and at the same time, we must not give up halfway in this process, otherwise everything we have done before will be in vain.

The first two points are actually preparing for investment, and only after we have the capital to manage our finances, we can invest through other means.

If you want to manage your money correctly, you first need to set up a feasible financial plan, the content of the plan should be as detailed as possible, roughly calculate how much money to spend each month, how much income, how much money to set aside for emergencies, and then implement the plan truthfully. You should also get into the habit of keeping accounts, record in detail how much each expense is spent each month in your bill, and then learn to calculate the balance. In addition, it is important to regularly analyze the data in your bills to identify the items that spend the most money and the items that are not worth spending money on, and then gradually improve your financial plan.

Financial planning should take into account three factors: risk, profitability and liquidity.

Financial planning requires you to first analyze your financial situation, including your assets, liabilities, income and expenses.

Financial planning should have appropriate goals and long-term persistence and continuous optimization.

Review the state of your assets. What is a review of the status of an asset? It's to see how much money you have. One is how many assets you have in the past, and the other is how much income you will have in the future, which all belong to the category of how much money you can manage.

To manage your money properly, you must first assess your risk tolerance. Then choose the financial products that suit you, and finally diversify your investments and don't put your eggs in one basket.

Financial management is an activity that requires long-term planning and attention, not only investment and financial management, but also daily income and expenditure management, risk control, etc. Ordinary people should know some financial knowledge in order to better plan their finances. Here are some common financial knowledge, I hope it will be helpful to you.

1. Determine your financial goals and budget.

A financial goal is an economic goal that an individual wants to achieve in a certain period of time. For example, buying a house, buying a car, traveling abroad, life after retirement, etc. First of all, you need to determine your financial goals and make a reasonable budget plan based on them.

2. Establish emergency savings**.

Emergency savings** are funds for emergency situations, such as sudden illness, job loss, etc. Building emergency savings** can help you protect your quality of life and financial security. It is usually recommended to save ** for your monthly living expenses, but you can adjust it to suit your situation.

3. Clean up high-interest debts.

Reduce the use of credit cards as much as possible.

Make a repayment plan to avoid falling behind.

If conditions allow, try taking out a low-interest loan to pay off high-interest debt.

4. Rational investment and diversification of assets.

Investing can help you grow your income and wealth, but it also comes with risks. Therefore, you need to make a reasonable investment plan according to your risk tolerance and financial goals, and at the same time pay attention to diversifying assets and reducing risks. Investment channels can be selected in various forms such as **, **, real estate, etc.

5. Rational purchase of real estate.

Property is one of people's biggest asset, but buying a property requires careful consideration of one's financial situation and future plans. There are a few things to keep in mind:

You can't buy more property than you can afford.

Consider future life changes, such as an increase or decrease in family size, job changes, etc.

Don't blindly pursue house prices**, property investment also requires reasonable time and space.

6. Continue to learn and improve your financial knowledge.

Managing money is a process that requires continuous learning and practice. Life is constantly changing, and so are personal finances. Therefore, financial literacy also needs to be constantly updated and adapted to new situations. Here are some tips you can do to improve your financial literacy:

Attend financial courses and workshops: Gain a deeper understanding of financial knowledge and skills under the guidance of professionals.

Consult with a financial advisor: A financial advisor can provide advice on taxes, retirement planning, investment portfolios, and more.

Follow financial news and market changes: Understand market trends and investment opportunities so you can make more informed investment decisions.

In conclusion, financial literacy and skills are essential. Only by mastering the right financial management methods and investment strategies can you better achieve your financial goals and create a more stable and prosperous future for yourself and your family.