Budgeting
Essential money skills such as budgeting, forecasting and basic money management are very often not taught at home or at school. Not understanding how compound interest can either work for or against you often leaves people consumed by debt and
As trite as this may sound, not knowing where your money is going each month can be a huge source of anxiety. Too many bank accounts, retail accounts, debit orders and budgetary expense items can leave you feeling out of
Running a single-income household, single mothers know and understand the importance of careful budgeting. With only one person generating an income and managing outflows, budgeting for a single mother is easier to centralise and manage.
Present bias may convince us to pay more for a product in return for same-day delivery, for instance, or choosing a motor plan with a large balloon payment because the monthly instalments are lower.
Until your child has traded a day of his or her life for a pay cheque it’s unlikely they’ll fully appreciate the value of money. Whether in the form of a holiday waiting job, babysitting, tutoring, coaching or pet-sitting, the
A well-constructed financial plan should help you use good debt strategically to increase your net worth. Remember, not all debt is bad – good debt, such as a home loan, can be leveraged to build equity in your property so
Income protection is a form of long-term insurance which is designed to replace your income if an illness or disability renders you unable to earn your income either temporarily or permanently. While many consider this type of cover to be
In the absence of an emergency fund, you may be forced to access debt in order to pay for the unforeseeable expense you are faced with, keeping in mind that short-term debt is normally expensive. Ensure that you always have
Determining what you could realistically expect in terms of divorce settlement means understanding what assets your spouse has. In a particularly acrimonious divorce, a spouse could attempt to hide assets in a living trust or move assets offshore in the
