Restart Notice -- Phase in Approach

In an effort to keep our members safe and healthy, our building has been closed since mid-March.  At the May Cabinet meeting, our Leadership made the decision to reopen the building for group meetings, effective May 27, 2020.  In-Person Worship Service and All Youth Group meetings remain suspended and will be resumed as conditions develop during the summer and fall.  Our next Regular Worship Service is planned for November 15, 2020.  We are still checking phone messages and getting the mail several times a week.  The best way to contact us is by emait to:    fccbsecretary@firstchurchbethel.org

 

On-Line Worship

Join us on Sunday for On-Line Worship.  We will broadcast live at 10:00 AM using ZOOM meeting software.  Use your computer or phone and go to

zoom.us to load the app and try it out.   -- OR --  Simply click on this link

 

 

The most common mistakes when managing personal finances

The ability to manage money competently is especially valuable quality in the conditions of financial crisis, when the purchasing power of the population is shrinking, inflation is rising, and currency exchange rates are completely unpredictable. Below are the common mistakes related to money affairs along with financial planning advice to help manage your own finances properly.


The budget is the most basic thing in financial planning. It is therefore especially important to be careful when compiling the budget. To start you have to draw up your own budget for the next month and only after it you may make a yearly budget.


As the basis takes your monthly income, subtract from it such regular expenses as the cost of housing, transportation, and then select 20-30% on savings or mortgage loan payment.

The rest can be spent on living: restaurants, entertainment, etc. If you are afraid of spending too much, limit yourself in weekly expenses by having a certain amount of ready cash.


"When people borrow, they think that they should return it as soon as possible," said Sofia Bera, a certified financial planner and founder of Gen Y Planning company. And at its repayment spend all that earn. But it's not quite rationally ".


If you don't have money on a rainy day, in case of an emergency (e.g. emergency of car repairs) you have to pay by credit card or get into new debts. Keep on account of at least $1000 in case of unexpected expenses. And gradually increase the "airbag" to an amount equal to your income for up to three-six months.


"Usually when people plan to invest, they only think about profit and they don't think that loss's possible", says Harold Evensky, the President of the financial management company Evensky & Katz. He said that sometimes people do not do basic mathematical calculations.

For example, forgetting that if in one year they lost 50%, and the following year they received 50% of the profits, they did not return to the starting point, and lost 25% savings. Therefore, think about the consequences. Get ready to any options. And of course, it would be wiser to invest in several different investment objects.