Reach Financial Stability With These Top Tips

A key focus of my blog is Financial Literacy/Money. Succeeding with money usually comes down to a few simple adjustments/tips. Once you figure out what they are, you must then execute them. The following contributed is entitled, Reach Financial Stability With These Top Tips.

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Photo by Towfiqu barbhuiya on Unsplash

According to a recent study from the ABA Banking Journal, only 29% of Americans are financially healthy. Furthermore, with the full financial impact of the COVID-19 pandemic yet to reveal itself, these figures may plummet even further.

However, while certain aspects of our finances remain beyond our control – there are certain steps you can take to improve your financial situation and work towards becoming financially stable. Here are some great examples to get you started!

● By now, it’s beyond clear that there is power in budgeting your money. This is because it helps you reign in any negative spending habits you might have acquired (such as online shopping). Furthermore, without budgeting, it’s near impossible to figure out exactly how much you are actually spending each month. If you’ve never budgeted before, you might want to try the 50:30:20 rule.

● If you find it hard to stick to a certain budget, you might want to check out some of the best budgeting apps that you can download onto your phone. They will send out daily/weekly notifications that help you to better monitor and control your spending.

● Take some time to truly get to grips with your finances so that you can understand what it actually means to be financially healthy. For example, you should make sure that you understand your net worth and your gross salary and what they mean.

● If you’re in urgent need of money, consider taking out a small loan to support yourself until you are in a better situation. For example, many Americans take out small loans to cover their monthly expenses when waiting to be paid for work. In this case, you must work with a reputable company you can trust, such as cash train. You should also ensure that you factor this repayment into your monthly expenses.

● If you have a little bit of money set aside each month, you might also want to consider investing. When done correctly, this is a great way to boost your finances significantly. However, it’s important to remember that investing is not a guaranteed way to earn money, meaning that you should not invest more than you can lose. If you haven’t invested before, you should check out these useful investment tips.

● While you must know the difference between cheap and frugal, you should also ensure that you find as many ways as possible to live frugally. For example, you can begin to grow your own fruits and vegetables instead of buying them from supermarkets that often overcharge for goods. Alternatively, you could buy these products from smaller, local businesses for a much fairer price.

● If you want to get serious about saving money, you need to set up a savings account and send a set amount of money into it each month. This way, you are less likely to spend it accidentally – especially if it’s an account that you can only withdraw money from a few times a year. Furthermore, many savings accounts offer interest on their accounts, which is a great way to earn passive income!

Strengthen Your Financial Position In The Long-Term

A key focus of my blog is Financial Literacy/Money. Unless you are a big-time athlete, an entertainer, or you’ve designed the next greatest innovation, money is a long game. As such you have plan accordingly. The following contributed post is entitled, Strengthen Your Financial Position In The Long-Term.

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Are you looking for ways to improve your financial situation? If so, then there are a few different steps that you can think about exploring. Here are some recommendations that you need to keep in mind. This will help ensure that you have a fantastic quality of life, long into your later years.

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Use Financial Planning

First, you should consider using a financial planner. The benefit of a financial planner is that they provide a personalized service that will be based entirely around your individual situations. This means that they will find investments that are relevant to your current financial portfolio as well as your goals. Indeed, the point of a financial planner is to help you find the right paths to achieve your financial goals. For instance, you might have an age at which you are hoping to retire. A financial planner can formulate a plan that will allow you to achieve this. You can click here to see more about what this could mean for you.

Diversify Your Incomes

It could also be worth thinking about diversifying your income. If you diversify your income, then you can make sure that if one income fails, you have others to fall back on. There are countless income possibilities that could be worth exploring. For instance, you might want to take a look at the DeF industry. Once you have completed a little research, you’ll find that there are interesting side hustle possibilities here.

Go Big With Investments

Once you start saving money, you should immediately begin to look at investment opportunities. You can start with small options on the market but you should then grow your options further. Bigger investments may come with greater levels of risk. But they also provide the potential of far greater returns. So, instead of investing in one home, you should consider looking at a shared property instead such as an apartment building or block of offices. If you don’t have the money to explore these investment choices, then we recommend that you look at forming a partnership or a team of people with similar financial portfolios to you.

Prepare For For The Unexpected

Finally, with your finances, you need to make sure that you are ready for anything. You must try and prepare for situations that you hope would never happen but that could potentially cripple you financially in the future.

There are numerous examples like this. For instance, you could develop a long-term injury. Research suggests that by the time you are 65, it’s more likely than not that you will have some form of disability that negatively impacts your quality of life. One of the ways that you can prepare for this would be with disability insurance. The right disability insurance coverage will protect you in the long term.

We hope this helps you understand some of the ways that you can strengthen your financial position and ensure that you are better prepared for the challenges that you could face on in the future.

5 Mistakes That Can Lead Young Filipinos to a Financial Nightmare

A key focus of my blog is Financial Literacy/Money. Our overall financial health come down to a number of factors but decision making plays a major role. This is true for all ethnic groups. The following guest post is entitled, 5 Mistakes That Can Lead Young Filipinos to a Financial Nightmare.

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Today, more and more young Filipinos are paying attention to their finances thanks to the increasing accessibility to financial tools and knowledge sources, something that their parents and grandparents were not lucky enough to have. However, there are still a lot of youngsters in the country that are committing the same mistakes that their predecessors did, as well as some new ones that came with modern technology.

Here are some of the most common ones, and how Filipinos, both old and young, can avoid them:

1. Taking out unnecessary loans

Whether it’s because of “petsa de peligro”, an expensive gadget, or an unexpected expense, many young Filipinos turn to payday loans to make ends meet before the next paycheck. While these types of loans may provide quick and easy cash, they also come with exorbitant interest rates that make borrowers pay more than half of the original amount. The result? Blown up debt that can make one’s finances even harder to manage.

The best way to avoid this problem is by establishing an emergency fund and practicing delayed gratification. With an emergency fund, one can pay for unexpected expenses without draining their main bank accounts and resorting to loans. And by practicing delayed gratification, one’s ‘wants’ won’t be a good enough reason to take out a high-interest loan.

2. Waiting too long to take out insurance

When it comes to insurance, many Filipinos display the “I don’t need it yet, I’m young and healthy” attitude, mostly because they don’t want to lose part of their income to something intangible or something that won’t immediately benefit them. However, no one knows when sickness, accident, or death can befall someone; health or life insurance plans and other types of coverage help protect the insured and their family in case something were to happen.

Moreover, insurance premiums increase with age. By waiting too long to take out insurance, young Filipinos are missing out on lower payments while they are still considered low-risk.

3. Spending too much on online shopping

With the massive popularity of online shopping platforms like Lazada and Shopee, it’s no wonder why so many Filipinos–both young and old–are finding themselves spending too much on their online purchases. Even with the frequent promotional ‘sales’ that these platforms offer, money spent is still money spent, no matter how big the discount is.

And that’s exactly the problem, too many online shoppers are blinded by sales, hefty discounts, and free shipping promos that they often buy things that they don’t even need. There’s nothing wrong with shopping online. In fact, it’s a safe and convenient way of shopping amidst the COVID-19 pandemic. However, it may be causing shoppers to spend more money than necessary, and sometimes, money that they don’t even have.

4. Not planning for retirement

For the older generations, especially Filipinos, their children are their retirement plans. It’s a common tradition in the country to “give back” to one’s parents upon entering the workforce, and going against the grain is often seen as taboo or being ‘ungrateful’. Needless to say, this is a toxic belief that is putting too much pressure on young Filipinos and leaving them unable to prepare for their retirement at the same time. As a result, these young Filipinos will also depend on their children for their needs in the future, hence, a generational financial curse.

That said, it’s crucial for Filipino millennials and Gen Zs to break this cycle by planning for their retirement. This could mean taking out long-term investing plans, making contributions to pension plans, and building their nest egg as early as now. Contrary to popular belief, it’s never too early to start planning for retirement–even if it’s forty or fifty years away.

5. Succumbing to lifestyle inflation

Lifestyle inflation is a problem not exclusive to Filipinos, but it certainly is a common issue in the country, especially with a culture that makes people believe that when they move up in life, they should have something to show for it. For many Filipinos, this means buying a bigger house, taking out the latest car model, buying more expensive clothes, or going to high-end sources of entertainment when they start earning more money.

Lifestyle inflation, to a certain extent, is acceptable. However, when the expenses start equating to income, you’re probably spending too much and may be well on your way to debt.

These are just some of the financial mistakes that a lot of young Filipinos are guilty of, but are definitely some of the worst ones. If you’re still committing one or more of these mistakes, it’s high time to start taking more control of your finances for a brighter financial future.

Recovering Financially From A Unique Set Of Circumstances

A key focus of my blog is Financial Literacy/Money. Most of us will experience a major negative financial event at some point in our lives. The key though is preparing for the recovery, and then recovering. The following contributed post is entitled, Recovering Financially From A Unique Set Of Circumstances.

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The vast majority of people are conditioned to react to the word “debt” as though it’s a toxic, inextricable state of affairs. For sure, none of us wants to be subject to a financial burden that pushes down on us for an extended period, but it is worth developing a more sophisticated understanding of how debt works. Not only in terms of how it can be maintained safely, but also how it can sometimes be simply inevitable.

Let’s take the current situation as an example. Although different areas have opened up after the initial pandemic lockdown, to a greater or lesser extent, we are far from a “normal” situation. People have lost out on paydays, which means they have had less money to spend. This means that businesses have seen their takings reduced, and some businesses will not survive. Which means that other people lose out on paydays. Sound financial management – which is always worth practising – will not, on its own, prevent a lot of us from serious debt burdens.

So what do we do about this?

Usually, when negative circumstances arise, the smart advice is to tighten one’s belt and look for alternative income streams until it all blows over. As second waves of the pandemic develop in those countries fortunate enough to have managed the first wave, no-one knows when this will all “blow over”, but you wouldn’t bet on it being this side of 2021. That’s a long time to be in a financial holding pattern.

It is hoped, broadly, that some top-down plans will arrive at some stage to assist those of us worst affected, but again, it’s a waiting game. For some of us, the best bet may be to go on the offensive: looking for payment holidays from creditors; finding out about refunds we may be entitled to; reading a DTSS U.S. review or two to see where you might benefit from getting more proactive.

Working on future financial independence

Perhaps the most important element of recovering from this unforeseen public health crisis is being ready for it to happen again. This is a set of circumstances to which most of us have never been exposed, and it’s reasonable to imagine it wouldn’t happen again in our lifetimes. We shouldn’t count on that being the case – recent history shows us things can always get worse. So being ready to not rely on a single income stream is essential. Diversifying your revenue is a priority.

Right now, it may be tricky to find a way to ensure continued income; as we’ve said, all but the richest are experiencing anxious times right now. However, now is the time to think about how we can build back from this, work out how and where to invest money so that – if this all happens again sooner than expected – we can be confident that there will still be money arriving in our accounts every month. It may seem like a pessimistic way to look at things, but we’ll be grateful for some level of preparedness if we have to weather another storm.

4 Important reasons why women are more affected financially due to the COVID – 19 outbreak

Two focuses of my of my blog are Current Events and Financial Literacy/Money. There are so many layers to the Coronavirus/Covid-19 Crisis/Pandemic. In addition the human health issues, there have also been financial after effects in the area of jobs. Something that’s not being discussed in all circles is the effect of the pandemic on the finances of women. The following guest post is entitled, 4 Important reasons why women are more affected financially due to the COVID – 19 outbreak.

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The coronavirus outbreak has devastated the entire world economy and it has almost reached the middle of this year. But still, humankind is eagerly waiting for a cure to stop this pandemic. Till now, approx 2,941,218 active cases were found worldwide, and nearly 357,979 deaths were reported due to this pandemic. Doctors and healthcare providers are working day and night to provide good medical treatment to the infected people. Medical researchers and scientists are working hard to find an antidote to this virus infection. Unfortunately, we still need more time to get the results.

According to CNN, the COVID-19 pandemic has heavily affected health care associates worldwide more than common people. Most of those associates are young and among them 70% are women. Institute For Fiscal Studies (IFS) director Paul Johnson informed the BBC Today programme“There are those young people who are in those jobs at the moment or were in those jobs before COVID[-19] hit, and if they’re not able to get back into work then there may be longer-term consequences for them. We know that periods of unemployment when you’re young can have long-term effects. Traditionally you’re going to be looking to start work in September, [but] now couldn’t be a worse moment to be doing it.”

In China’s Hubei Province, about 90% of healthcare associates are women. In the U.S., that number is around 78%.

So, practically women are more exposed to the COVID – 19 virus than men. As a result, women are experiencing the impact of the pandemic more than men, on physical and mental grounds.

According to a report given by PayScale, financially women have faced the biggest hit from the COVID – 19 outbreaks within the last 6 months. Another report revealed by the Organization for Economic Cooperation And Development, new jobs are being created mostly considering the men, not women during this difficult economic situation. This might be a reason why women are financially getting down day by day. During the lockdown, it is also becoming difficult to find another income source.

In the UK, nearly 70% of the two million single parents are currently employed, but 3 out of 10 single parents working are living in poverty. Unfortunately, approx 90% of single parents are women.

These aren’t the only reasons women are experiencing hardship due to COVID – 19 pandemic. Check out the below-mentioned causes that should get your attention.

4 Important reasons why women are more affected financially due to the COVID – 19 outbreak

1. Women play a key role in family caregiving

After reviewing the above-given data, it is clear that women are the prime workers who saved time apart from their work, to provide care to their families. Due to the lockdown, most of the schools and workplaces are closed now. So, kids, elders, and other family members are at home 24-7. Due to this reason, most of the female workers have to be at home and away from work. They are attending family members who are ill or can’t take care of themselves.

When these female workers return to their work or try to rejoin, they’re being offered 7% less salary compared to male employees, who are working in the same designation. PayScale’s director of research, Sudarshan Sampath, verified this situation in PayScale’s 2020 State of the Gender Pay Gap report this way – “The coronavirus pandemic has exposed these cultural faults with our economic system. There is a strong likelihood they will not get rehired or they’ll come back on reduced terms.”

2. Unpaid sick leave creates a financial hardship

During the coronavirus outbreak, nearly 67% of private sector employees, and only 30% of low-wage workers who earn $10.80 or less/hour, may get the benefit of paid sick leave. Apart from that, only less than 50% of part-time workers may get the option of taking sick leave.

According to the report given by OECD.ORG“In some countries, sick-leave compensation only covers a small fraction of the previous wage and / or is shorter than the recommended period of self-isolation for people with COVID‑19 symptoms. For instance, Korea and the United States have no generally applicable statutory obligations for employers to continue wage payments in case of illness and also do not provide for statutory public sickness benefits (OECD, 2018[1]). Comprehensive spending data on employer-provided sick pay is not available for the United States, but a quarter of U.S. workers do not have access to paid sick leave at all (rising to one half for low-wage workers), and two thirds of workers who do accrue less than 10 days of paid sick leave per year (Bureau of Labor Statistics, 2019[2]). With the “Families First CoronaVirus Response Act”, the United States introduced two weeks of paid sick leave for workers impacted by the COVID‑19 virus, which will initially be paid by employers but be fully reimbursed by the federal government.”

Fortunately, from the very beginning of the COVID -19 outbreak, international organizations such as Facebook, Microsoft, and Salesforce, utilizing few problem solving tips for business and employees, agreed to provide help to their workers. The companies allowed their workers to get increased benefits during sick leave.

The American government has also worked hard on a bill that would help employees to get paid leave benefits. President Trump signed the Families First Coronavirus Response Act. The bill is focused on providing paid leave to employees who did not have it and extending paid leave for employees having only a few days. The benefits are applicable to the employees stuck at home due to the pandemic.

“The new law grants two weeks of paid sick leave at 100 percent of the person’s normal salary, up to $511 per day. It would also provide up to 12 weeks of paid family and medical leave at 67 percent of the person’s normal pay, up to $200 per day.”

*Data courtesy – the washington post

But there is a catch! According to the emergency legislation, only 20% of employees can avail paid leave benefits. Apart from that, small and midsize companies may provide these benefits for employees impacted by the coronavirus. Companies having 500 or more workers aren’t allowed to provide such benefits to their employees.

As per a calculation by the Center for American Progress, approximately 19.3 million U.S. employees (about 12% of 159 million workers) may face financial hardship without getting paid during sick leave.

3. The wage gap and job loss trigger monetary problems

62% of minimum-wage and lower-wage workers are female. These workers may experience a greater risk of job loss when businesses such as restaurants, departmental stores, hotels, and airports are shutting themselves down and firing their employees.

Even if women perform well in their designation, and maintain regularity, they may lose their jobs due to the business shutdown. Though women are less paid compared to the men, working in a similar job profile and designation, the effect will be quite harmful. This is also a reason that women are experiencing too much stress, and unfortunately, they don’t know how to remove that stress at work.

Women are affected more financially as a disproportionate number of women work in industries that are severely affected by the lockdown. These may include retail, leisure, and hospitality sectors. 17% of female employees are working in lockdown sectors, whereas mem workers are merely 13%.

In the country, 1.4 million citizens lost their jobs in March., with a 0.9% increase in female unemployment and a 0.7% increase for men.

If you analyze the controlled pay gap, the difference in payment will be seen clearly between men and women, having a similar job profile. Women earn 98 cents per $1 earned by men. According to PayScale, women are now getting 81 cents for every $1 earned by men (the ratio of median earnings).

During this outbreak, the wage gap is getting bigger than before. Female elementary school teachers earn 92 cents per $1, and women doctors earn 94 cents per $1, compared to men doctors. Female registered nurses earn 98 cents as usual. Unfortunately, black women earn 62 cents on the dollar and Hispanic women 54 cents for the same designation.

With such low income, women employees often experience difficult financial problems, such as unpaid credit card debts, medical bills, utility bills, kids’ education costs, housing costs, etc. As low-income earners, women may opt for help from non-profit credit counseling agencies and seek options to become debt free again.

Fortunately, the discrimination between genders and the wage gap has been gradually changing in a positive direction. As per PayScale’s survey – In 2018, women employees earned 78 cents per $1 earned by men. In 2019 the amount becomes 79 cents (+1), and in 2020, 81 cents (+3).

4. Unpaid caregivers are mostly women

Women around the world provide most of the unpaid caregiving work. As per the International Labour Organization (ILO), women employees normally render 76.2% of total hours of unpaid caregiving work, and it is more thrice as much as men employees.

Women employees are experiencing a shortage of paid caregiver policies. Currently, only 16% of private-industry female employees are allowed to receive paid caregiver leaves. Due to this reason, women taking too much sick leave for family members may trigger monetary problems in their lives.

● Approximately 43.5 million caregivers have provided unpaid care to an adult or child in the last 12 months. [National Alliance for Caregiving and AARP. (2015). Caregiving in the U.S.]
● About 34.2 million Americans have provided unpaid care to an adult age 50 or older in the last 12 months. [National Alliance for Caregiving and AARP. (2015). Caregiving in the U.S.]
● 65% of care recipients are female, with an average age of 69.4. The younger the care recipient, the more likely the recipient is to be male. 45% of recipients aged 18-45 are male, while 33% of recipients aged 50 or higher are male. [National Alliance for Caregiving and AARP. (2015). Caregiving in the U.S.]
● Upwards of 75% of all caregivers are female, and may spend as much as 50% more time providing care than males. [Institute on Aging. (2016). Read How IOA Views Aging in America.]


As health care services are getting unavailable day by day due to the increased number of infected patients, many COVID-19 positive cases need to be treated at home by women caregivers. This may also increase the possibility of becoming infected during such an awful time.


So, these are the 4 prime reasons why women are getting the hit more than men. Women share a large chunk of employment in various industries such as healthcare, restaurants, social assistance jobs, preschool, kindergarten teaching, flights, etc. Due to the outbreak, most of these industries are shutting down their business. Due to this situation, women all over the world are experiencing huge financial difficulties to maintain their lives.

Author Bio- Patricia Sanders is a financial content writer. She is a regular contributor to . Her passion for helping people who are stuck in financial problems has earned her recognition and honor in the industry. Besides writing, she loves to travel and read various books. To get in touch with her (or if you have any questions regarding this article) email her at

Three Steps To Financial Freedom

A key focus of my blog is Financial Literacy/Money. Financial Freedom is a goal that many people aspire to but not everyone reaches. It’s not something one can do overnight and there are distinct steps and behavioral changes involved. The following contributed post is entitled, Three Steps To Financial Freedom.

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Financial freedom is definitely something that you want to try and reach, but have you got to the point where you feel like it’s never going to happen? Do you feel like you’re still living paycheck to paycheck? Or do you even perhaps feel as though you’re living comfortably, but you know it’s not the life that you want to live. Financial freedom is having the money to live the life you want to live, and to live without money worries. Money really does make the world go round and it’s no doubt something you will spend most of your days thinking about. If you are living paycheck to paycheck at the minute then you will definitely have the stress. So, we’re going to show you three steps that will point you towards financial freedom. There are so many things that we can do to change our lives and the way we have access to money. The three things below and just some of the things you can do!

Emigrate To A New Country

This is one of the best things you can do if you have already envisioned your life abroad. For some people the thought of emigrating and building a life abroad would have been a dream since a very early age. The possibility to earn more money abroad is often huge. One of the countries that people love to move to is Australia. It just offers so much. First you have the lifestyle and how amazing that is to live through. The boiling hot summers, the generally great weather all year round, the people who are loving their life. But most importantly the job pays well and you can get a lot more for your money in terms of real estate. It’s easy enough to move as well. You’d first have to decide location. Understand how easy it is to work. Figure out all the living costs vs wages. Secure a job, secure a home. Then all you need is a successful migration agent to make sure you can get a visa to live in the country. There are often stages to the visa and criteria that you have to meet. But the Australian lifestyle will definitely be one worth moving for.

A New Way Of Money Management

Money management is definitely what everyone could do with focusing on at the minute. If your job is unaffected by the virus outbreak, you might find that you’re able to manage your money and save more because you’ll be doing less. For those of you who are being affected, finances can become a big worry. Which is why we think you should use money management apps to manage your money. You can put your reduced pay in and split your money into categories. You can then monitor it throughout the month and make sure that you’re sticking to it. Using the apps when money does settle is also going to help a ton. It becomes a clearer way of seeing your money, making it far easier to manage. Often money management is all that’s needed for financial freedom.

How Can You Remain Financially Secure in Today’s Financial Times

A key focus of my blog is Financial Literacy/Money. In life there will be both good and bad financial times. It’s important to be able to survive the tough financial seasons. The following contributed post is entitled, How Can You Remain Financially Secure in Today’s Financial Times.

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The recession, Brexit, the introduction of zero hour contracts, and now Coronavirus: there always seems to be something going on across the globe that puts us all at risk financially. When external crises and difficulties arise in the world, it has a knock- on effect on businesses as people either have less money to spend, stop spending or start spending their money on other things. Small businesses and low income workers in particular are vulnerable as they’re unable to cope with long periods of low profits before running out of money. If you’re wondering how you can stay as secure as possible financially, despite what’s going on in the world then here are some things to bear in mind.

Have multiple streams of income
Having multiple streams of income is always useful- if one method slows down or collapses completely then you always have backups to rely on. You could work a full time job while running a small business, this isn’t as time consuming as you think as you can outsource various departments so it’s pretty much run for you. From accounting to marketing to real-time network protection, there are companies out there that can keep everything running on your behalf. You could monetise a blog and Youtube channel on the side and work on freelancing projects as and when you get the chance. All of these will add up to give you a decent income, and if for any reason one of them stops earning you money you won’t be left out of pocket.

Have the ability to work from home (or anywhere in the world)
Being able to work from home is useful for many reasons. It saves you time and money and lowers stress, home based workers report feeling happier and healthier than those in traditional jobs. In times like now when there are health scares, being able to work from home is incredibly useful. There are many people that will potentially lose out on a lot of money if they’re forced to self isolate, however if you can earn from home then those checks just keep landing in your bank. If you ever need to move home or to another area, perhaps as a way to save money then when you work from home, your job comes with you.

Get out of debt and save money
Being in debt is expensive. Not only do you have to pay back what you’ve borrowed, but the debt will continue accumulating interest while you pay if off which makes it more and more expensive as time goes on. Get out of debt, and once you are you can start saving money. Having a rainy day fund if you need it can give you such peace of mind if you’re unable to work for a period of time, or need access to cash fast.

Buy your house
Finally, getting a mortgage now means that by the time you’ve retired, you’ll own your home. This means no need to pay rent or any other costs which is useful when you’re not earning money any more. Getting onto the property ladder gives you security, and is one of the best things you can do financially.

Introduction To Financial Modeling At Your Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Business is a science in itself and as such, sometimes financial models are used to project growth and future directions. If your business uses financial modeling or is considering it, there are some important aspects to consider. The following contributed post is entitled, Introduction To Financial Modeling At Your Business.

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When you discuss your financial modelling options with professional consultants, they’ll be eager to extol the virtues of utilising different software for your financial modelling needs and why you should be using finance models to develop your business prospects at all.

Before you consider whether you want to adopt financial modelling within your business, it’s worth working out what the general benefits of financial modelling are. One of the key drivers behind businesses implementing financial modelling software is that they allow different scenarios to be tweaked without having to build the model from scratch every time you want to ask a new question. Similarly, the speed of financial modelling options ensures that quick answers are given when a question is asked. What may take months of calculation otherwise can be amended easily using formula and automatic alterations.

Equally, the data can then be presented visually. This enables people beyond your immediate circle to understand the data without detailed knowledge of the intricacies of your business. Once built in something like Excel, a financial model can be adapted and used over and over again to benefit your business objectives. The benefits of financial modelling can, therefore, be easily seen and utilising an effective program ensures that your models are robust and will be as accurate as they possibly can be. If you’re already using spreadsheets, you may wonder why an expert touch is required for financial modeling. Check out Why Should I Use A TEM Provider If I Have Spreadsheets? and you will find some great information on this.

Financial Modelling To Integrate Your Data

Financial modelling can help your business in various ways. These models should benefit your unique business and be developed by expert consultants in conjunction with you. Only by creating models with professional assistance will you end up with functional and useful models that will benefit your business.

Integrated financial statements are incredibly useful in business. It’s likely that your businesses utilises several different systems for various aspects of your work. This may be a deliberate decision on your part, or it may be a legacy from previous incarnations of your business. Either way, trying to report and forecast using data from various locations can be a nightmare. Pulling all this data into a program is one popular solution. In this way, financial models can integrate your data and show it all in one place. However, to do this, you need to have experts on hand who can manipulate these other systems in the correct way.

Once you have a system set up, you will often take it for granted that information is gathered from one source and transferred to your program. Perhaps this is something you already use within your business. If so, you’ll understand the power of transferring data into software and likely appreciate the benefits of financial modelling even more. It’s important to work alongside specialist developers when it comes to financial models. More than anything else, these models must be accurate and portray your business well to the world.

What Financial Headaches Are Hanging Over Your Head

A key focus of my blog is Financial Literacy/Money. To have good financial health, it’s important to know what steps to take and which ones to avoid to prevent getting yourself into long-term jams. The following contributed post is thus entitled, What Financial Headaches Are Hanging Over Your Head.

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There are few things as stressful as money. Even when things are going well, which isn’t all that often, we can be struck by a moment of panic, one that says, “it’s going well now, but you need to keep it like this for many years to come. Can you do it?” But of course, that’s nowhere near as bad as when things aren’t going as well as we’d like. They have the potential to rob us of the joy we should experience as living creatures, disrupt our sleep, and worse. Below, we take a look at some of the common financial headaches that can hang over a person’s head.


Too Much Credit Card Debt

Credit cards can be beneficial, of course; indeed, it’s recommended that you have one, so you can build good credit, which makes it easier to get loans at favorable rates. But credit cards usage can quickly spiral out of control, and before you know it, you can have a big bill, and your monthly payments are really only covering the interest. If that happens, then look at switching the debt to a card that offers an interest-free period. When the period runs out, switch the remaining balance to another card.

Big Bills and Reduced Income

Most people only have a pretty tenuous grip on their finances. Their security is entirely dependent on their income. But those people are just one injury away from being in trouble. If you’re involved in an incident and suffer an injury, you might find that you have to stop working. This will make it difficult to pay the many bills that you have. If this happens, the first thing you should do is pause any non-essential payments. If it wasn’t your fault, then get in touch with these accident lawyers, and fight for financial compensation. When you’re injured, the aim should be on getting better, not wrestling with your financial situation.

Expensive Homes

It is a great achievement to get the keys to your very own home. It can feel like a dream come true. But this dream can quickly turn into a nightmare if the house you bought is too big and expensive for what you can afford. The most important thing is to find more money – it is better, in the long run, to live a frugal lifestyle in order to afford the mortgage payments. Later on down the line, you’ll hopefully be able to renegotiate the terms of the deal, which will put more money in your pocket.

Everyday Expenses

Many people find that they can afford their home, but struggle with the everyday costs of living. If you’re in this position, then go through where your money is going – it’s possible that you’re spending far more than necessary on, say, coffee or eating out. A person’s shopping habits in the supermarket can influence their financial habits way more than they should. Don’t opt for the brand name stuff – it’ll taste the same, and you’ll have more money to play with.

3 Software Programs and Apps That Can Improve Your Life, Rather than Steal Your Time

Two of the major focuses of my blog are Financial Literacy/Money and Technology. While there is a danger in becoming too consumed by the new technologies available to us, many of them can help improve our lives. Which ones are particularly helpful? The following contributed post is thus entitled, 3 Software Programs and Apps That Can Improve Your Life, Rather than Steal Your Time.

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Image via Pixabay

The modern world is rich in technology so advanced that it would have been unimaginable to the average person even just a few short decades ago.

No matter what our interests in life are, and no matter our jobs and hobbies, it’s possible to vanish down a bottomless rabbit hole of endless information, stimulation, and entertainment, at the drop of a hat.

But while many modern technologies have brought with them immense benefits — such as the ability to communicate with our loved ones on the other side of the world, or to acquire a Windows 10 pro key and create an entire business structure within days — there are plenty of downsides to be wary of.

There are predatory companies out there, and exploitative apps, games, and software programs that have been designed to hijack our consciousness and trap us in a psychological feedback loop.

Here are some examples of software and apps that can help you to improve your life, rather than just serving as a timesink.

RescueTime — to reduce procrastination and enhance your awareness of how you’re spending your time

If you’re even just so much as slightly inclined towards procrastination or a disorderly lifestyle, having a computer with an internet connection is something akin to leaving a hungry child unattended in a candy shop.

Human attention is easily hijacked by novelty, probably because in ancient days, noticing novel information could mean the difference between life and death. Is that odd shape in the pushes a vicious wild animal, or a tasty meal?

These days, Google, Youtube, and social media offer a never-ending stream of novelty, meaning we easily fall into a cycle of endless surfing.

RescueTime is a service and software program that can help to free you from that vicious cycle of procrastination and enhance your awareness of how you’re spending your time. It combines an activity tracker, with a web blocker, report system, and more.

Beeminder — to help you stick to productive behaviours and avoid unproductive ones

We are all largely defined by our habits, and we tend to revert to our familiar behaviour patterns whenever we zone out a bit or are put under stress.

For that reason, it’s a very good idea to carefully focus on developing productive behaviours, and avoiding unproductive ones. Repeated often enough, good acts become good habits, and bad acts become bad habits.

Beeminder is an innovative service that allows you to set habit goals, which you then commit to with your money. Every time you stray off course from your desired habit, you pay exponentially more in penalty fees.

You Need a Budget — to give you a clear bird’s eye perspective of, and control over, your financial life

Good financial management can be tricky, especially when it’s so easy to buy all kinds of glossy, attractively-advertised products online with a couple of mouse clicks.

You Need a Budget — also known as YNAB — is a budgeting tool build around the principle of “zero-based budgeting” and “giving every dollar a job”. It’s relatively straightforward to use, and it can give you a crystal clear perspective of what’s happening with your financial life.

That in turn, of course, gives you a lot more power over your financial life.