At the risk of sounding overly simplistic, estate planning is the process of amassing and deciding what is to become of your assets along with the beneficiaries when it’s time for you to pass on. Your assets include all the valuables you possess, such as properties, investments, savings, or even what was collected for your …
Is it accurate to say that “money talks”? When there is debt, it sounds more like a shout coming from a source that’s almost deafening. Allow me to guess that you are caught up in a web of loans and credit card bills, along with a few unpaid dues. Yes, debt can be problematic and …
Money isn’t only a resource that should be used; it should also be grown. But how is growth achieved? Welcome to the world of investment, where the right step today can be beneficial tomorrow and can help achieve future planning. People might feel overwhelmed at first, especially those who are unfamiliar with the language of …
Wealth management sounds complicated, right? But at its very basic level, it is just the ability to keep track of your finances in a manner that assures accumulation over time. Whether you are making plans for a remarkable vacation or you want to start on the path to having a complete savings account, grasping the …
One of the oldest systems of control used by people to track their spending is envelope budgeting. Envelope budgeting starts with dividing your income into portions, or envelopes, based on each, including a specific spending limit for some activity. To prevent going beyond the limit set for a particular envelope, you need to stick with …
Having some degree of financial security can be nice; however, if one is struggling to make ends meet, then acquiring such wealth can be difficult. As a first step, one must save up three to six months’ worth of income in order to have some financial cushioning. Here is how you could initiate this process: …
In simple terms, zero-based budgeting assigns every dollar a use. We do not expect planning for emergencies with some leftover money; each and every cent is planned out. Those who are into strict money management do relish zero-based budgeting like a piece of fine art, and for good reasons as it outlines the limits of …
Value-based budgeting suggests that rather than attempting to achieve a predetermined savings target, you should instead seek to align your expenditures with your value structures. This makes it possible to make sure that any expenditure made is worth increasing your value and is part of your overall strategy. The approach enables you to not only …
Funding. It is what we make, use, hoard (sometimes), and what makes us anxious. However, there is one catch: most of us are flying blind when it comes to finances. We want to save for an ideal vacation or buy that new spacious car, but we have no budget to guide us; it’s similar to …
A financial plan will help in establishing how you plan to handle your money with a focus on things like how much you want to save, how much debt you plan to repay, and how much money you want to spend. First, estimate your monthly income. Next, you may plan your spending using templates or …