Experiencing unexpected life events can lead to personal financial crises, disrupting the stability you once had. The death of a spouse, loss of income, sudden illness, or other unfortunate circumstances can wreak havoc on your financial well-being without warning. Many people are unprepared for such downturns. During a crisis, the financial aspect of your life is often impacted the most and the fastest. While dealing with the personal hardships of difficult times, such as grief,…
Money has purchasing power and earning power. When you make these powers work for you, you are winning, but when these powers work against you, you are losing. When you need to make a large purchase but you do not have the funds to pay for it right away, banks will lend you the money. Banks will impose charges or fees to have the money available to you. Those charges or fees are called interest.…
Budgeting allows you to reach your financial goals. It gives you control over your spending and saving. Since it is much harder to control income, budgeting allows you to take charge of your spending. HANDPICKED RELATED CONTENT:Simple and Compound Interest Budgeting also helps to save money. When you keep track of how much money you can spend, you will have a better understanding of where you stand financially, what you can and cannot afford, and…
