Maintaining stability depends on being able to spot warning indicators of financial crisis. Important warning signs include persistent overspending, missing bills, mounting debt, lack of emergency reserves, and emotional strain. Early detection of these indicators enables people to take proactive measures towards resilience and financial well-being.
On this very unique day known as Teachers Day, our mentors who impart us with knowledge and life lessons are acknowledged. Therefore, being the mentors of our own life choices and decisions, it is worth considering five important money lessons that instructors may impart to us as we observe this day or may incultivate. These …
Saving your money for the long-term can significantly bring financial stability. But, many people make some crucial mistakes while doing it. Let’s discuss some of the most common mistakes that you’re making while trying to save money, and the steps you can take to avoid them. 1. Not Setting Financial Goals Without a clear goal …
When it comes to managing your finances, it is important to demarcate between your personal and business finances. Both personal finance and business finances inspire your overall financial gains. The main difference between personal and business finances are, personal finances consist of loans that are credited to payback in a particular amount of time, whereas …
Difference between Personal and Business Financial Planning Read More »
The 6X Emergency Rule is a rule of thumb that tells you to save the money from your monthly salary for an emergency fund 6 times your current monthly expenses. This exceptional rule can save you from unforeseen danger or financial loss or family illness. For example, if your monthly expenses are $3500 then you …
Life is full of uncertain circumstances. So, it’s imperative to build a fund that can save you at times of emergencies. Emergency Funds are set apart from other savings, as it can help you to handle unfortunate circumstances like job loss, loss of family members, or medical bills. So, it’s always prudent to keep your …
What is the Best Place to Keep Your Emergency Funds Aside From Bank Accounts? Read More »
