As a remittent, it’s relatively harder to save amounts but it’s also very important to keep some funds for any emergency financial crisis. What if you are fired with no prior notice from the organization?
Or what if your family needs extra money due to an immediate lockdown in the state? To help you in doing so, here is a short guide that will help you in doing goal-based financial planning.
What is the Meaning of Goal-Based Financial Planning?
The primary meaning of this term is that you manage and plan according to your goals, set by a proper plan. When you don’t do planning or manage your expenses, you may end up in spending money at additional riff-raff.
By prioritizing your goals, you can easily give each fee its priority and pay according to that. As a remittent, your living expense, your transferrable amount, the fee of the provider are the top three expenses.
How to Create A Separate Account For Payment Transfers?
If the account of the sender or the beneficiary isn’t friendly with international transfers, then you may be required to pay an additional fee. In some cases, you may attract taxations too. Before using a money transfer service, make sure that they are easy to use in Bangladesh.
Moreover, when your account has extra payments, any unnecessary fee can easily be deducted from your mortgage or your bank amounts. By not keeping additional payment, the bank/provider will have to notify you for any unknown expense, and it’s also a better way to overlook your costing policies.
How to Make A List Of Your Financial Goals?
If you want to save a specific amount up to the end of a year, note that. Then write your monthly income and all your expenses. See from where can the expenses be cut down.
If your living style is too luxury currently, then consider stepping down. If you are sending more than needed amount to the family, then note down their expenses and send payments according to that because, in the end, the savings will benefit both you and your family.
Lastly, check your provider’s fee. Many untrained people end up in paying extra billions per year. Only by selecting an efficient platform to send money online, you can save hundreds of dollars per year!
Choose ACE Money Transfer To Send Money To Bangladesh!
Ace money transfers is a trusted platform which promises the cheapest yet fastest money transfer to Bangladesh. We provide our customers with optimized exchange rates which means you get the maximum returns against your payments!
Moreover, by installing our app, you can get alerts about updates on the stock market, enabling you to get the best rates. By using our company, you can save more than 700$ US per year, which is a significant amount for any remittent!