When you ask anyone how to make money a bank will respond to granting loans, investing in securities … that’s true, but many do not know that the biggest source of profits of banks are commissions. It can be said that banks and charge fees for absolutely everything.

The committees are established by each institution, in consultation with the Bank of Spain to ensure that meet certain requirements and comply with the law.

They must be necessary, ie to respond to a service, and not covered by another product contracted by the client, must be communicated to customers, and posted on the bulletin boards of offices, are not abusive (on this We can discuss long) can not be charged for transactions carried out by failure or negligence of the entity can not be collected if not on the agreement and can not exceed a fixed amounts (eg 1% in the cancellation rate mortgages variable).
Bank charges are applied more

The fees that normally apply are: for transferring money, keep accounts, withdraw money from cash, to have cards for study and / or create a credit, to cancel it, for having an overdraft …

Actually, it is difficult to escape them. The only thing we can do is compare between different entities and seek the lowest commission, because although in theory the commissions should have the degree of marketability, consumers often do not find ourselves in a strong position to the institution .

If you need a loan and the Bank X gives you, surely you can not get to demand that you remove this or that committee. In Spain it seems that bank customers tend to be quite tolerant and slightly combative when accepting payments imposed on us. In another article we’ll discuss how we can be more effective when negotiating any bank fees.
Average annual expenditure of a person in bank fees

A study by Consumer magazine, the annual expense of a person in commissions can vary between 40 and 210 euros, as in a normal situation is to have a checking account, a credit card, a debit card, make an average of six transfers, and any income checks.

Moreover, as a credit request must checkout and pay the relevant fees and opening study … and do not ever forward anything of debt, because then the commission will also pay partial or total early termination (see article on repayments mortgage). And if we find a bank that will lend us the money something cheaper, take us there we will bring the mortgage to pay the relevant commission of subrogation.
Entities that do not charge bank fees

Lately we see in many media entities ads say not collect commissions. We appreciate the effort, but not we really saying that all this has buts and small print.

There are a number of committees (such as account maintenance) not charged to creditworthy customers or shareholders, but others continue to claim (as the opening of mortgages).

Other entities not condition the charge you a wide range of commissions to you customer loyalty with them (including payroll, insurance, mortgages, accounts, cards, pension plan …). So far recovered that lose revenues.

If we said at the outset that the commissions as a whole are the main source of profit of entities clearly we will never eliminate them entirely. Only eliminate the commissions financial (maintenance of accounts, transfers to an amount, issuance and renewal of cards). This is business. And no business sacrificing your goose that lays golden eggs. At best, let in 50 golden eggs make a normal one.

Many taxpayers have to make the declaration of income tax from personal every year. This tax applies to income derived by individuals, both for wages and salaries, for furniture capital gains (shares, investments …) or property (income from rental property) and gains from asset.
When is it mandatory to make the tax declaration

There is an obligation to declare this tax for people who have obtained in the previous year an income over $ 22,000 annually, if they come from a single payer, or 10,000 euros per year if they come from different payers (if the second and join other payers as a whole over 1500 per year, otherwise it continues to place the $ 22,000 annual).

There is also obliged to declare whether income securities with capital gains exceed 1600 euros and 1000 euros estate.
Reductions and deductions in the tax declaration

But there are a series of reductions and deductions that decrease the quantities obtained in establishing the basis for calculation.

To calculate the tax base, it is estimated that contributions to Social Security or welfare mutual, as professional bodies, are necessary for obtaining revenue, and therefore, are deducted from the tax base. Consider several cases.

1. Inputs and contributions to pension plans: they reduce the basis provided that is charged to the holder of the contributions (who makes the payments), and that this is the future owner of perceptions. This means that each taxpayer deducts its payments. We can not infer, for example, contributions from our wives. Or contributions to our plans whose beneficiary is a spouse.
2. Inputs and contributions to social welfare mutual: if not already deducted from net income of an economic activity, and which aim to cover contingencies include: retirement, total disability, total or severe disability and death.
3. Premiums paid into the pension plans insured: insurance contracts covering the contingencies of retirement, total disability, total or severe disability or death, and where in the policy to expressly specify that it is an “Insured Retirement Plan”.
4. Contributions made by employees to corporate pension plans: should indicate explicitly in the policy which is an “Insured Retirement Plan” and the main contingency should be in retirement.
5. Premiums paid to private insurance: to cover only the risk of severe dependence or strong dependence on third degree relatives, spouses or dependents, with the ceiling of 30% of the aggregate income of the year (50% for over 50 years) or 10,000 euros, the lowest of these amounts.
6. Contributions made to the forecasting system for persons with disabilities (more than 65% from 33% natural or mental), or inability judicially declared.
7. Contributions to the heritage protection of handicapped persons: in degree equal to Item 6).
8. Compensatory pension contributions: for the spouse or children alimony, court orders.

Minimum Personal and Family

Furthermore, there are matching based on the circumstances of each taxpayer, which is called “personal and family minimum, which is the essential part that is supposed to meet the basic needs of the taxpayer and his family. As a general rule, the taxpayer may be reduced based on 5050 euros.
Minimum descendants

To this is added the minimum descendants (by the former: 1,800 euros per year, per second: 2,000 euros per year, for the third, 3,600 euros per year, by the fourth and subsequent: 4,100 per year) provided that the case of children not emancipated with income below the 8,000 per year and under 25 years. Additionally, 2200 extra per year for children under 3 years.
Minimum upstream

The bottom shall be minimum 900 euros for those over 65 years and 1100 euros for over 75 years, provided that they live with the taxpayer and do not have income above 800 per year.
Disability Reductions

There are also reductions for taxpayers disability and disability of the ascendants or descendants.
The full fee

Using the calculated and subtracted reductions base, apply the rates and get the whole payment.
Deductions and share differential

A full share is relevant may deduct amounts for the following deductions:

* Double taxation
* Maternity
* Payments on account
* Contributions to savings account business, dedicated savings accounts with the aim of forming a company within 4 years.
* For acquisition or rehabilitation of residence.
* For contributions in favor of goods of cultural interest.
* For economic activities.
* For donations to non-profit organizations and patronage.
* For income obtained in Ceuta and Melilla.
* Deductions autonomous.

resulting in the differential fee.

The maximum amount of deduct amounts not exceeding 9015.18 per year.

It is therefore desirable to maximize all our legal options to reduce the amount of tax. There will always be to study carefully the limits and conditions for each deduction, since otherwise we may be forced to refund the amounts deducted irregularly including interest.

Currently, there are free software distribution for the same tax office that help us step by step to make our statement. However, if in doubt we can always go to a professional who advises us and get the most out tax deductions are for us.

Many families, especially those who get monthly income, they run into trouble when it comes to managing money to pay the expenses for the entire month, until reenter income at home the following month. We then say that is not reached this month. There are many expenses that must be addressed (mortgage, car, food, transportation, schools, etc).
Can we do something to avoid these economic burdens?

Without attempting now to be wizards of finance or give fantastic recipes, we describe some aspects that can help us improve our situation.

Obviously, the main solution would be to increase revenue and lower costs.

As for increasing revenues, will be something in the medium term, and may go through trying to improve our technical or academic training to try to improve our jobs and our wages, or find another job with better economic conditions.

The second part, to reduce expenditure, we can implement more effectively and immediately.
Draw up a monthly budget

Our plan goes through make a monthly budget.

Even if we think we control the costs, having a plan and carry it out scrupulously help us much.

First, will the total family income. If income is variable, will an average amount prudent not excessive.

As for fixed costs, we must take into account that are inexcusable and must be paid: electricity, water, telephones, gas, mortgage and other loans, neighborhood community, food, transportation to work or school runs. We will add these expenses and that amount will be untouchable.

If on something, we’ll leave for variable expenses. This remnant will use it only for unforeseen unavoidable: drugs, school materials, etc. Try not to spend just to see if we are more at ease.

There are many ways to stretch this money for nonessential expenses. We leave the coffee bar and take it at home (20 days of coffee = 24 €), breakfast not out (20 days x 3 € = 60 €), leave the car at home and cycling to work (saves time, money and stress), or using public transport with their subscriptions. We can buy food at the cheapest. And going out to dine out at the end of the month, when we see that we have a little extra money. We can also try to reduce fixed costs, such as consumption of light: is it really necessary to have the air conditioning to 16 degrees? It is not even healthy. Or heat in winter to 26 degrees to go home in short sleeves? Perhaps we can have at 21 degrees, and go with our very comfortable robe. If we put energy saving light bulbs, save on the bill within the year. Is it necessary to speak both the phone? We’ll have to get a monthly ceiling and talking just enough. Putting the washer fills and using sprays on faucets also uses less water.

But the main expense faced by households is mortgage payments. Many times, your payment is almost all of our income. And people keep mortgages because the rental market does not offer much cheaper prices than mortgages. Solving this is not in our hand, but there is some way to soften the economic bleeding.

In cities, many people have traditionally gone to live in the surrounding villages, towns born the familiar bedroom. There are cheaper houses, although their prices are still soaring. In cities like Madrid or Barcelona, prices of apartments in the suburban municipalities are not very affordable. But in other provinces, you can still save a lot on housing if you’re willing to live 40 minutes away by car. You can save up to half, what will be a great relief payments in the future. And another option is to seek work in areas with cheaper housing (there are provinces with more affordable housing than others).

In short, make a budget with expenditures inexcusable and leave the rest for contingencies. Also, try to minimize the consumption of electricity, water, telephones, gasoline, bars and restaurants, etc..

With the advent of the Internet, we have entered fully into what is called the era of communications.

If you’ve always said that whoever has information has the power, we can say that the Internet has democratized society in so far as is an equitable distribution of the information. That it also spreads the misinformation, the legends and hoaxes.

But staying on the positive side, the Internet has been instrumental in developing economies, from publicizing and selling products around the world up to get pictures and documents instantly, and so on. This has led to productivity gains, saving time efforts were more cumbersome than before.

Banking, of course, is not foreign to this information revolution. On the one hand, has meant lower costs for its internal management, to be faster and cheaper to move information, and otherwise has saved hours of work of its employees as there are now large amount of paperwork for clients online. Therefore, the Internet brings additional benefits to the banking system because it increases productivity and lowers management costs.
Is it advantageous electronic banking?

But from the standpoint of consumer banking products, is advantageous electronic banking?

We can say that for a client, being able to do almost all the steps through the Internet is a very positive aspect. Who has not spent hours waiting in a bank, or has lost all his efforts the bank tomorrow?

Internet making it all the banks go into history. At home, in our work or any location (there are already mobile Internet, and electronic banking via mobile phone) and can perform all the procedures that previously required our presence, or at least a call to the bank. Open accounts, have them checked, make transfers and transfers, pay or return receipts, pay taxes, request, activate and deactivate cards, investments, establish pension plans, insurance contract, contract in renting property, and so on, and a series of tools to manage our money and know our true position. All this is possible from a computer or a mobile.

The person who can do all these steps from the Internet, save many hours per year for those who come to the bank to carry them out. These hours translate into direct cost savings in many cases (companies). Besides saving time, the convenience of our finances without scrolling control must also value it.

Anyway, at least once have to go to the bank to create a digital signature that allows us to operate authorized distance in the future.
Another advantage for users is that electronic banking, unlike offices, is not subject to hours, being available 24 hours a day, 365 days a year anywhere in the world at low cost.

But by way of reflection, it is also true that having dealings with the bank staff at our usual office may be appropriate. There will be times that we have to negotiate specific issues that require the complicity of the employee. Therefore, maintaining good relations with cashiers, auditors and directors of the entity and that they know us, know also that our economic data and our solvency level is something we must not forget.
Disadvantages that may involve the Internet banking

As for the disadvantages which may involve the Internet banking, we can say that you lose the personal attention and financial advisory functions performed in an office.

In addition, electronic banking may seem to many traditional users insecure. We must say that most institutions have large security measures to prevent access to customer data and ensuring the exception of deposits. Still, there will always be problems with offenders, but perhaps not steal money in the bank branches or to leave them, or cash? We comment in defense of some banks that offer free services involving the cancellation of all fraudulent transactions that we could communicate whenever you suffer a specified date, which can be 48 hours, which should give us some reassurance.

In short, electronic banking customer saves travel time and efforts, and offers control and operation 24 hours a day from anywhere in the world.

Although many people have considered stable work in a large company, think it is not usually stay until retirement under the same roof, as happened some years ago. Even in the most favorable, with permanent contracts and solvent companies must be prepared for dismissal, and think that is a step which we can all face. Of course, the more precarious is our employment status, most likely will leave the company.

All people feel bad to be fired on the one hand, it opens a horizon of economic uncertainty, with declines in income, and secondly, the dismissal may be a blow to our pride and our dignity. Therefore, it is very important to properly address the dismissal from the psychological point of view. It is normal that we are wrong, but we must be positive and start acting soon.
Planning our new financial situation

First, we must plan our new financial situation. If our revenues are diminished, we will establish a spending plan tailored to our new financial situation, giving priority to expenditure of importance.

While we find work, our income can come from two sources: first, whether the dismissal is considered unfair, ie, that does not serve any reasonable cause, the worker is entitled to compensation equivalent to his salary of 45 days per year worked with the limit of 42 months. Moreover, in case of not finding employment, is entitled to unemployment benefit, as quoted variable average over the last 180 days prior to unemployment.
Find a new job

Once we have taken our new situation, it will be time to take action. We will have to be positive and optimistic, and use all available tools to find a job that makes us happy: newspapers, Internet, contacts we have, and so on. We must prepare for interviews. It seems hopeless or despondent. We will be positive and be prepared to answer, for example, what caused the dismissal. We must show desire to return to work.

One possible option is to visit companies in the same sector they worked before. Our experience in this field will be a factor in our favor.

Another option is to use the dismissal for a change to our future work. We can choose another area we were working completely different but we like, we are able to work on it and think it has possibilities. Whenever there is a job we would have liked to do. If we have the skills and preparation needed, can be a time of change.

Another possibility is to spend the compensation money to start a journey in solitary. We start our business or work on our own, as self-employed, working on what we know or taking a business we’ve studied calmly and to consider viable. Severance pay may well become an opportunity for personal development and employment. We can find our economic stability and pursuing a profession or an activity that allows us to move forward.

In any case, it is recommended that we use the fact of being dismissed and we consider it primarily as a job change and not as a tragedy. And we try as far as possible that we develop the new activity is to our liking. Ensuring that the bitter throes of dismissal is an opportunity and know we can take to improve economically, but above all on a personal level. Changing jobs for the worse, can be very frustrating.