• Financing Options For Small Businesses
    Financing Options For Small Businesses
    One of the major challenges small businesses face is getting a source of capital to maintain and expand business activities.
  • Top 5 Financial Tips
    Top 5 Financial Tips
    Money management is a common problem to many people. Lack of good skills on money management leads to a miserable financial lifestyle that usually translates into poverty.
  • 5 Financial Risk Every Business Should Avoid
    5 Financial Risk Every Business Should Avoid
    The art of lowering financial risk is not as hard as some people put it to be

Latest Posts

The Advantages And Disadvantages Of Pension Release

There are several advantages of accession your pension funds before state pension age. Unfortunately, there are also drawbacks. In this post, we will outline both pros and cons of pension release. You should learn How to release your pension first. It is our aim that you have a good understanding of implications of cashing your pension. In this way, you will not have any regrets about your future.

What is early release?

Before you go to advantages and disadvantages of cashing in your pension early, you need to understand first about this topic. There are two main forms of early release; one is financially viable and legal, the other is not.

Advantages of early release

It can be cotg3wed6cy3w7edu28i2unterproductive to consider taking your pension funds before they reach the retirement age. In any case, there are many reasons to go this route. For instance, you may have built adequate wealth before you get to the age of 60. Others are forced to stop start working early as a result of medical conditions. Studies show that a lot of people are leaving the work life in their early 50s.

Access to cash

In many instances where many unforeseen circumstances force early retirement, there is a need to have cash that allows you to remain self-reliant to a given extent. A lot of people see it as a great option instead of having to rely on their families or government for financial support.

Greater flexibility

This is another benefit of releasing your pension early. No matter the strategy you adopt, the move offers adequate flexibility. For instance, you will not have to wait until you are 65 to get your money. In most instances, converting your pension into annuity may not be the best option. When you release your pension, you have several opportunities to invest or spend the money, which you have saved.

Debt repayment

Retirement can become enjoyable when you do not have debts hanging over your head. Be ready to release pension funds to retire high-interest debts.

Disadvantages

Reduced return

Each withdrawal of the pension scheme means you will have less money than what is remaining in your account. You need to be careful as far as early release is concerned.

tg3we6dcy237edu92

Taxation

As much as the new laws have greatly reduced the amount of taxes that are paid on the pension funds, not all of them have tax liabilities.

Fees and charges

Pension administrators assess fees and charges to release transactions. If these charges and fees are adequate enough, they may take a lot of your pension to ensure the early release is worth it.…

Best Tips When Looking For Direct Debit Bureaus

gffdfdsdssdswqrt

Direct debit is the best way small businesses can collect payment. It will fit perfectly with all business man practices that he/she has to do regularly, and another good thing about direct debit payment is that it’s the most cheaply online method of payment. With the help of the right direct debit bureau, the owners of the business will receive the best from the debit direct. A direct debit bureau is the third party who you will give the money to, and he will be able to submit it to the direct debit system.

Best tips

Tracking the payment

gfgfgffgfgfgfgfThe bureau should be able to provide in-depth reports of all the payment that you make and all the failed payment. They should always keep you updated on what is going on with your payments. Look for a bureau that will always send your reports via email. The email should contain coded messages detailing the information about each payment and if it failed or successful.

The cost

Many direct debit bureau will choose not to publish the price that they offer online because of so many reasons. The cost will vary from one bureau to another, and it will also depend on the services that you will need from the Bureau. If you choose to get the whole package that is involved in direct debit, then the payment will be a bit costly.

Submitting the payment

Look for a bureau that does not have a very complicated procedure of sending the payment. When you can send the payment will vary from on bureau to another, some will allow you to submit any time of the month and some the payment is supposed to be done twice a month. When looking for the best bureau and you are considering the payment method then choose something that will work best for the payment method that you have planned.

The systems

If the bureau has systems that you will bale to integrate them with the payment system that you have, it will be able to save you from the hassle of re-keying manually. Not all bureaus can offer this integrating process. So before going ahead and choosing the company make sure that you talk to them and ask if they offer the integration process.

The restriction

gfgfgfgfgfdsdssdsDifferent Bureaus have different limits, like the limit amount a customer can pay a month. The restriction should also not be so many because it will limit you from getting the best when it comes to the direct debit.…

Mis-Sold PPI – Are You A Victim Of Mis-sold PPI?

At a time when mis-sold PPI haven been consistently hitting the headlines, most people are suspicious of almost of loans and credit payments made in the past. Was I mis-sold PPI? It has been a common concern in this decade. At least 15 million complaints have been handled in the past, and it is believed there are millions of pounds that are yet to be claimed. With all the negative news on this otherwise necessary insurance policies, here are criteria that could help you determine if your plan qualifies to be regarded as mis-sold.

If you do not remember being offered PPI

sacAWaSDcaDcADThis might seem simple, but if you do not remember discussing PPI, there is a real chance that you are a victim of mis-sold PPI. As such, if you do not recall your lender, bank, or broker mentioning something about it at the point of sale, there is a high chance this policy was sneaked to your loan without your consent.

If you were not eligible for PPI

Not everyone is eligible for PPI. To qualify for this policy, you should fit within a particular criterion. Failure to meet the qualification makes you ineligible for any benefits. However, some lenders or brokers sold these policies to individuals that were not eligible. Different types of people were/are eligible for PPI. If you paid for PPI when you were self-employed, younger than 18 years, you did not have a full-time job, you had a pre-existing medical condition, or if you are past the retirement age, you might have been mis-sold PPI.

If you were already covered

sDcDASDsdvIf you are already covered in an another type of pre-insurance policy, chances are that you already have an active PPI. As such, having a PPI Policy on a loan or some credit agreement is not only unnecessary but illegal. If you are convinced that this has happened to you in the past, you are a victim of mis-sold PPI and you are entitled to compensation.

If your situation is covered here, you can determine whether or not you are a victim of mis-sold PPI. In case you situation is not covered here or you are not sure, it is advisable to reach out to a ppi claim company. The good thing about working with a reputable company is that they not only help you get your money back, they can also evaluate and give recommendations about your case without charging anything.…

What You Should Know About Cash Advance

DASDcsdxfvsZ

For a business to run smoothly, it must sustain a continuous cash flow. In most cases, small businesses operate under financial constraints. In return, this deters efficient business operations. For instance, debtors may fail to pay their debts on time. Thus, to avoid inconveniences that come with such, the management may opt for a cash advance. This article will highlight some aspects relating to what is a merchant cash advance or mca and how you stand to gain from this source of finance.

Is a cash advance helpful to a business?

If you have plans to make your business successful, a cash advance can be significant. However, taking a cash advance does not guarantee that you will make the most out of it. You have to put plans into place and channel the amount of money to meaningful use. A cash advance can be channeled to any of your business activities. For instance, you can use the money to pay your staff, expand your business, and buy stock among other things.

How can a company get a cash advance?

A company can employ many ways to get a cash advance. Merchant companies can attach several of their anticipated credit cards. This will not only ensure they get a cash advance, but it will guarantee cash advance at a low interest rate. Another option is to use your account receivables as security. With this plan, you receive a cash advance. The moment your creditors pays, the factoring company receives the agreed amount.

Are there many procedures involved in taking a cash advance?

ASdAQWSASUnlike taking a loan, where you have to go through many procedures before you get your loan approved, this is not the case with a cash advance. There are no many processes involved in taking a cash advance. Also, cash advances are processed quickly. If you have a high credit score, you may consider taking a cash advance as opposed to taking a loan. The reason is simple, a high credit score, limits the loan amount granted and lengthens the loan borrowing procedure.

Flexibility in repaying

This is a key benefit of cash advance. This feature of cash advances allows small business to grow with much ease. There are no fixed terms in terms of paying the amount advanced. Some companies allow you to state how you would like to pay the amount. In other instances, if you fail to generate a stable income, the lender may allow you to pay the amount later though at a small interest.…

Tax accountants – How can your business prosper with their expert help

bajhrhro

Introduction

Being a small business owner carries some advantages. One of the most notable ones is the ability to create a DIY working environment, and organize the business according to your rules and ideas. However, it also carries its fair share of disadvantages, as well. One of these is the fact that, you will have to handle some different tasks and activities, simultaneously, and all by yourself. Doing way too many things at one time usually leads to the business suffering and, eventually, crumbling under pressure.

One of the most critical areas of any business endeavor is accounting, and, more specifically, tax accounting. For a business to be profitable, all the accounting tasks need to be handled with diligence and expertise. Even though there is a plethora of accounting software available nowadays, it can only provide limited help, and can only be useful for very small, start-up businesses. If you want your business to grow, expand, and be profitable, you will need professional help. The best way of getting it is to hire a professional tax accountant, who will handle all the activities and tasks, in regards to the tax accounting. In the remainder of this article, we will try to explain in greater detail, as to how can a tax accountant help your business. Check out Susan Becker E.A. to learn more about their services.

A tax accountant can save your time

33mmncjhTo boost your business, you should spend your precious time, doing the things you excel at. Tax accounting is probably not one of these. In case you do have some knowledge and experience, in regards to tax and accounting tasks, you will probably manage to handle most of them somehow. But the main question is, will you handle them correctly, and in time? Missing the deadlines for delivering important documents, including taxes, usually, results in severe fines and penalties. In the best possible scenario, an incorrectly completed document will be sent back, to be corrected and finished accordingly. In the worst case scenario, a tax inspector will show up at the doors of your office, with the incorrect document in his hands, wanting to painstakingly examine every single business paper and document you have. A tax accountant can help you avoid all of these issues, with his/her expertise and experience.

Tax preparation and obligations

Expert tax accountants are also specialized in handling tax preparations, as well. He/she will handle this task by obtaining all the necessary, important information, including expenditure receipts, bank statements, and income reports. Once this information is obtained and processed, an accountant will systematize it, and deliver it to the tax office without any errors and on time. This way, you will pay no more taxes than you are supposed to.

A tax accountant will also strive to lower your tax obligations. He/she will thoroughly pore over all the data and information, and look for anything that can lower your taxes. You can help your accountant with this task, by keeping all the receipts, which can be later used as proofs of your income and expenditure.

An accountant can help your business grow

22nbnhkqduAside from preparing and minimizing your taxes, a tax accountant can be instrumental in providing sound advice, on how to grow your business. This is extremely important if your business is still in its infancy. Making correct managerial and financial decisions from the start will propel the business in the right direction. Making poor ones will ruin it. Always keep in mind, that an expert accountant is most likely much more versed in the financial side of any business than …

Understanding alternative investments

Your investment portfolio will characteristically comprise of conventional investments. These are the traditional types of investments being stocks and bonds. However, there are the less traditional types of investments which are risk calculated like hedge funds, commodities and mutual funds. These are examples of alternative investments as elucidated in marc abrams hedge fund

Alternative investments funds, usually don’t move in the same way as fixed income markets and traditional equity. They form their own distinct cycles. Due to the inherent risk assessment and caution, they have little correlation. Hedge funds have a low volatility of portfolio during the period in which the traditional investments like stocks are performing poorly in the financial market. In the past, alternative investments have been limited to high-net-worth investors, but in recent times there has been a shift to accommodate more investors in the market. There are many investment products accessible today, and at times it is hard to properly identify which is one is a conventional investment and one that is alternative. The following is a list of common alternative investments.

Hedge fund offerings

Historically, hedge funds are typically available and limited to investors with a high net worth. These investors are those that meet the federal definition of a “qualified purchaser.” A qualified purchaser is someone that has an accredited net worth of over One Million Dollars. Assets in hedge funds are invested in other funds that have different strategies with a view of reducing risks.

Gold

The act of adding a portion of your portfolio toward precious stones and metal like Gold may offset assets in the portfolio such as bonds and stocks. This is because precious metals and stones don’t fall in line with traditional investments. Gold is acknowledged as a hedge inflation against currency fluctuations and currency inflation. Therefore investors put their money in gold during market and economic downturns.

Mutual funds with alternative strategies

Mutual fundcdedvrwVVEs are accessible to assets categories like real estate and commodities. Mutual funds can easily be sold in a public market. Therefore, they are available to a wider market of investors and in this regard mutual funds are restricted by law from using high leveraging to enhance returns as is the case in hedge funds.

Managed futures funds

Managed futures funds are premised on investment of assets in trading strategies and investment vehicles. Examples of investment vehicles are futures and forwards. It is worth noting that managed futures are speculative in nature. They involve high risks, carry fees and have limited liquidity. However, managed futures are prevalent investments for institutional investors and high net worth individuals.…

Choosing The Best Insurance Agent

kjkjkjjkkjjkwqqxz

Type of insurance

Some agents offer restricted type of insurance while others offer several types of insurance. Some agencies offer personal kinds of insurance while others offer both commercial and private classes. If you are a business owner and are in search of insurance, you will look for both commercial type of insurance and personal for your employees. Click on the active link for the insurance Business process outsourcing. As a business owner, it is crucial to get an agent with experienced.

Technical knowledge and credentials

kjkjkkjkjkjkjAn insurance advisor should be rightfully skilled for the task ahead. The experience of the job is very necessary as it will dictate your benefit of the cover in case of an accident and you need to claim. Education is a key indicator of experience. To verify their technical skills, you need to see the designations on their cards. The appointments will show the level of experience and competence.

Independent agents vs. direct writer

Independent Agent- They work for the client (insured), not the company. The advantage with independent agents is they offer you more options for insurance because they have contracts with different corporations.

Direct Writer-Direct writers work for the several insurance firms. They are hired as sales representatives for the companies, and they sell the insurance on to clients on behalf of the enterprise.

Personality traits

Direct writers work for the company and get paid commission on the sales of insurance. Therefore it is critical to find one that is trustworthy and honest. They should also be likable, enthusiastic and passionate about their job it is easier to work with a friendly agent.

Get notified in case of change

A good lawyer should tell you in the event of change in your insurance coverage. As a client, you should be updated in the case of a new law, change with your move, change in regulations, and any other amendments that may affect your insurance cover. Therefore, your agent should keep you updated on all the changes that may affect you.

Detailed written proposals

hgghghhggghYou should review the recommendations about the cover once you get your business quotes. Some clauses may be equivocally written, or the meaning has been hidden and may not mean what you think. Some proposals have exclusions that are important and may be the main reason why you are getting the policy. Therefore, the agent should be able to explain to you the clauses in the contract in detail.…

Factors To Consider Before Getting Short Term Loan

tg2w3ed6chy27eu82i2

Unexpected situations may occur that require an instant solution. And mostly, in this case, we are referring to quick cash to fix the unexpected financial crisis. Most important, there are some of the short term loans lenders that can be of help if faced with this kind of challenge. But it is advisable to know some of the basic things before you decide to borrow money from LoanRy. Therefore, the following are some of the factors to consider before getting a short term loan.

Lending company

It is important alwaytg23ed6y237edu82i2i9s to consider which company you are borrowing the loan from. Some of the companies offer high-interest rates that may be you cannot be able to meet their standards based on your financial capability. Therefore, it is essential that you borrow your short-term loan from the company that is reputable.

Amount

It is advisable to borrow the exact money that you are in need of. Because if you apply for extra money beyond your needs, this will affect your financial status because you always need to remember that what you have borrowed is a loan and you have to pay the interest on the amount that you borrowed. Therefore, that is why it is good to borrow the amount that you need because if you borrow a higher amount of money, you will have to pay a higher interest rate.

Interest

Mostly, emergency loans are the ones with high interest. It is good always to remember that you have to pay higher interest to the lending company if you were in a position of holding the money at short notice.

Fees

Before applying for a short-term loan, it is good always to check whether there will be fees that will be charged from the amount that you will have decided to borrow. If you do not want to incur some of the extra deductions, it is good to clear these issues before agreeing to apply for the loan.

Credit score

Betg3wedch2w7edu28i29202fore agreeing to take a loan, ensure that you have a good credit score which will not affect you with the loan that you are yet to borrow. Having a bad credit score can not affect you from borrowing because there are some of the lenders that allow those with bad credit to apply for the loans.

Time and contract

For those who are interested in getting the short-term loans, there are specifications on the paydays that you will be allowed to borrow and pay your loans.It is good to read the contract clearly and understand all the requirement before you agree on taking a loan.…

Best Tips For Hiring A Debt Advisor

fdgdgdfgdfgfdg

As days goes by, the state of the economy is becoming even tough, and the purchasing power of people goes on diminishing making it a bit challenging to meet their basic needs adequately. The need, therefore, arises to plan properly for the very limited finances available. We have to admit it, not all of us have vast knowledge in debt related activities which make it a bit challenging to make an informed decision on the same.

Important tips for hiring a debt advisor

Experience

There is, therefore, need to invest in services of a qualified debt expert to avoid falling into even worse financial crises now or in the future. Visit Creditfix – IVA, to see some of the debt solutions you can get from this debt consultant. This article will take you through some important guidelines in choosing the best debt advisor to help you address your financial needs.

dfgdfgdgfdgdfg

Look for the qualification and experience

A good debt consultant should have papers which indicate his/her academic skills. You need somebody who is proficient and has adequate knowledge in debt related matters. You need someone who has been in the field for some time and can give general financial tips as well. This will be important since he is in a good position to use past information or experience to make a prediction on the likely condition in the future. The more experience a debt advisor is, the more reliable is the information that he gives.

Certification

You don’t want to deal with somebody who is not even certified to engage in debt consultancy. How can you even trust such a person? Certification is essential as it proves that the individual has been vetted and approved to carry out credit consultancy after meeting all the qualification to be a debt advisor. Usually, it is a requirement for this professional to display their certificate in their offices so that everybody can see.

Should have an Office

A good debt advisor must have a physical address where you can always go anytime if you want to see them. The offices communicate a lot about a person, whether he is an organized person or not, Luckily, technology has made things easier as you can now have a physical office as well as a virtual office.

gfdgfdgdfgdfgddfg

Should have a working website

Most of these debt consultants are using the online platforms for them to have a wider market for their products. For such debt advisors, they should put all their credentials such as their personal qualification, contacts, and addresses on their website for their clients to see. They should always be very quick to respond through their online platform for it to be efficient and reliable.…

Benefits Of Employers Liability Insurance At Work Place

ggfdgfgfdgfdgdfgdfgdf

Reputable companies embrace all the legal requirements to avoid complications when there is a problem. One of the compliance they take is the employer’s liability insurance. This kind of action not only shows how serious a company respects and values its staff but also comes with many benefits to both parties. Any employers must embrace this kind of insurance by all means. If you are looking for a good broker to make employers liability insurance for your business, then visit the internet to see some of the best and what they can do for you.

Benefits of employers liability insurance

Shows compliance with the law

Well, as an employer, you probably know that employee compensation guidelines are regulated by various employment Acts in your state. Sometimes the employees’ health and safety may be affected like in the case of an accident. In such a case, the regulations guide on how the employer takes liability to such a case. Therefore getting the relevant insurance cover to take care of that is an indication that you are compliant and willing to perform your mandate.

gfgdgdfgfdgfdgdffdg

Give compensation to a deserving employee

No one wishes for bad things to happen to any employee at a workplace. However, accidents do occur sometimes, and staffs are injured or even become disabled. Sometimes employees die as a result of a work-related cause. In such a case, an employer with an employer liability cover will have the compensation done fast and as directed in the guidelines without beating around the bush. This is beneficial to both parties for the mutual respect.

The company does not have an all of a sudden strain financially
Small and medium size companies may not have a lot of finances to give a big compensation that was not in its financial plans. No one knows when a compensation will be needed. Therefore, this can cause problems or even affect the business negatively. However, with an employer liability insurance plan, the company pays affordable premiums, and in a case of any need for compensation, no company financial budgets are altered.

ghgfhgfhfhgfgf

Conclusion

As a tip of advice, it is crucial for a company to have a cover for all staff both permanent and on a casual basis. The trainees also need insurance as no one know who can get injured in the course of working or not. Get the best broker available to take you through this tasking process and negotiate the best deals with an insurance firm.…

Roles Of A Manager In A Firm

mkjkjkjkjkj

Managers play a fundamental role in the firm’s growth and its evolution. In large business organizations, organizational growth is a complicated growth. The interrelation of moving parts such as activities being done in a firm are the things that define an organization. A highly effective manager with excellently developed communication skills is needed in affirming so as the work in the company to move smoothly and the set goals and objectives are attained. For more about the roles of a manager read about russell abrams. The following are the roles of a manager in a firm or business organization;

Roles

Leader

mnmnmnmnFor the changes in the enterprise to be fully implemented, an individual who is a manager should be a good leader. The change must be organized and planned by the director, and his or her leadership skills should be put in practice so as he or she can inspire employees to embrace the changes. Leadership is an impalpable and complex skill that involves an individual passing information to a particular group of individuals and at the same time encouraging them to embrace a position.

Negotiator

An individual who is a negotiator has the same traits as that considered a leader. In a situation whereby a firm is undergoing change within their structure, the primary role that the manager plays is to negotiate with resolute determination and without a doubt with contractors, employees, suppliers, and competitors. A person as a manager should be able to negotiate openly with the said parties so as the best interests of the business organization will be considered.

Figurehead

A person is required to play the role of a figurehead in a firm or company. The high-level management in an organization usually plays the role of creation and reinforcement delivery of the preset goals and objectives of the company to the workers, clients, shareholders, and stakeholders. Employed people should be able to know where the business is headed in the right direction or not and the things to be achieved at the end of the day. The firm can be symbolized by the manager as being the figurehead of the company. Excellent service delivery developed the manager and the customer results to higher profits because of the working conditions existing between the two parties.

Communicator and liaison

hjhjhjhjhjhWhen the right information is passed to the employees relating to the vision of the firm, the preset goals and objectives are likely to be attained under the specified duration of time. Communication is a vital factor of managing change easily with minimum problems experienced. Direct reports in the company must be run by managers so that operations in the business to run smoothly and delays will be avoided.…

Financing Options For Small Businesses

wertrszgfdgfchgvhjb

One of the major challenges small businesses face is getting a source of capital to maintain and expand business activities. Those running small businesses usually face this financial challenge causing many to opt out of business. However, there is still hope for small businesses when it comes to seeking financial help. Small businesses have some financing options that they can use to expand business operations. Below are the leading financing options that every small business owner should try before quitting business due to lack of finance.

Top financing options

Business loansyrteshdxggytxserdtdrsere

One of the most popular ways of getting finance for a business is by seeking business loans from financial institutions. Various financial institutions promote small businesses by providing them with loans for expansion. There are different kinds of business loans that a small business can opt for. For example, a business owner can opt for secured loans or unsecured loans. The amount of money borrowed also varies depending on the business proposition presented to the financial institution offering the business loan. Depending on the financial situation of a business, the owner can pick any of the available loan options and work to expand the business.

Venture capitalists

There is a general misconception that venture capitalists do not take ‘risks’ for small companies. While there are some traces of truth in this misconception, there is still room for small businesses to get the attention of venture capitalists. A growing number of venture capitalists are seeking out businesses that have the potential of ‘booming’ in the coming years. This means that small businesses with great potential also have a chance to get financial assistance from venture capitalists.

Lease for equipment

hdeshtjtfhdxhfcgvnhbA small business that cannot afford to purchase equipment can opt to lease equipment as a financing option. However, it is not the ideal financing option for a small business, but it offers a good way for a small business to get started. After all, there is an option of purchasing the equipment at the end of the lease. At the expiry of the lease, the business should be in a position to purchase the equipment.

Friends

This is probably the last financing option that any businessperson would resort to using. However, it remains a financing option since one can borrow money from friends and family to finance some aspects of the business. If there is no other financing option available, an owner of a small business should seek help from friends.…

Top 5 Financial Tips

erfthgfdxhser5tugy

Money management is a common problem to many people. Lack of good skills on money management leads to a miserable financial lifestyle that usually translates into poverty. To liberate yourself from financial disappointments every time, you will need to learn these five important financial tips embedded in your budget.

Tips to help you with your finances

Be realisticwrtrytyugfgszfbgcfvgnb

In the course of setting up a budget, many people make unrealistic targets that are hard to achieve. For example, if you usually spend $300 on grocery in a month, there is no need of allocating $100 for grocery in your budget. This unrealistic target will ruin your whole budget. Therefore, you should be true to yourself and set a realistic budget that will reflect your current expenditure against realistic expenditure plan.

Separate luxuries from necessities

Many people do not draw a line between luxuries and necessities. There is a clear difference between ‘wants’ and ‘needs.’ This knowledge will help you know how to set your priorities when it comes to planning for your money. For example, you will not budget for recreational if you have not paid your child’s tuition fee. Mixing luxuries with necessities is a sign of lack of financial discipline that will result into missing financial priorities.

Think before you act

When it comes to money matters, there is a need to think before acting. Do not rush into buying things without thinking first. Research shows that majority of consumers spend based on emotions, which is a wrong financial signal. Take time to employ your rational mind to make informed decisions before giving out money just to come and regret later.

Use cash instead of credit

getrtfhfds4e56tuOne of the most important financial tips is to use cash instead of credit. Many financial advisors suggest the use of cash instead of credit card due to the tendency to spend more when using credit cards. A person will tend to spend more when using a credit card than when using cash. Therefore, let the credit card come only during emergencies.

Don’t bet on bonus

Do not put your expenditure plan based on money that is not in your bank. Wait until you get the money before you plan for it. This will help you avoid financial disappointments should the bonus fail to materialize. In an event where a bonus fails to materialize and you already made plans for it, you will be disappointed and end up messing your entire financial plan.…