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With this economy, is budgeting still advisable?
I think budgeting is still highly advisable for money management even during such economic times when prices of items are skyrocketing. You know, budgeting is meant to focus your money on what you need to buy as priorities. While budgeting these days then, you need to be aware of the price increaseRead more
I think budgeting is still highly advisable for money management even during such economic times when prices of items are skyrocketing. You know, budgeting is meant to focus your money on what you need to buy as priorities.
While budgeting these days then, you need to be aware of the price increase or possibility of that and add more money to your budget. I find it best to do some survey first for the things I need to buy to know how much they cost right now. That helps me know how much to budget for.
See lessHow to manage your business funds?
Money management in business is very important, it is a skill that every business person should learn. I do it through bookkeeping, having a record of my money use in business helps me with budgeting. I also ensure that I have separate accounts for my personal and business money. Which is easy givenRead more
Money management in business is very important, it is a skill that every business person should learn. I do it through bookkeeping, having a record of my money use in business helps me with budgeting.
I also ensure that I have separate accounts for my personal and business money. Which is easy given that my mobile account allows for having such separate accounts.
See lessHow to minimize needless risks in investment?
The best way to minimize risks in investment is to explore and learn about them since you won't minimize what you don't know. Once you are aware of what risks you face, you need to research on ways to mitigate or reduce them. There are many resources available that can help you know how to handle riRead more
The best way to minimize risks in investment is to explore and learn about them since you won’t minimize what you don’t know. Once you are aware of what risks you face, you need to research on ways to mitigate or reduce them. There are many resources available that can help you know how to handle risks in business and investment. You just have to explore and learn about them.
See lessAre online investment still really?
It is true that there are legit online investment methods, but one may fall easier to scams as they promise really good returns. It is best to do your research really well to know Businesses and platforms that are legit to invest in. Online businesses such as selling clothes online, dropshipping andRead more
It is true that there are legit online investment methods, but one may fall easier to scams as they promise really good returns. It is best to do your research really well to know Businesses and platforms that are legit to invest in.
Online businesses such as selling clothes online, dropshipping and website flipping are legit and you can invest in them successfully. You could also start your own blog or sell your skill on freelancing sites and earn well online.
See lessWhat are common scams in loan market
One of the biggest loan scams is the loan sharks who give out online loans at really high interest rates. They take advantage of people's desperation for money to charge them high interests. That is why it is best to carry out research to know which platforms are best for taking loans. It is best toRead more
One of the biggest loan scams is the loan sharks who give out online loans at really high interest rates. They take advantage of people’s desperation for money to charge them high interests. That is why it is best to carry out research to know which platforms are best for taking loans. It is best to take loans from financial institutions that are regulated, they are best as they offer low interest rates.
See lessHow COVID-19 Affected Loan Approvals
I think the COVID 19 truly affected loan approval rates, it made it so hard to access loans. This is mainly because of how it impacted the economy negatively, making business hard to run due to the big losses. Financial institutions ended up lacking money to lend people and had to make the approvalRead more
I think the COVID 19 truly affected loan approval rates, it made it so hard to access loans. This is mainly because of how it impacted the economy negatively, making business hard to run due to the big losses. Financial institutions ended up lacking money to lend people and had to make the approval process really hard. You ought to have really good credit score to access the loans.
See lessWhat are the consequences of defaulting on a loan
The biggest consequence to defaulting a loan is that the interest rates go higher. You will have some penalties on your loan hence you end up owing way more than you borrowed. That can make the process of paying back to be harder and is the main reason why most people default completely. Which in tuRead more
The biggest consequence to defaulting a loan is that the interest rates go higher. You will have some penalties on your loan hence you end up owing way more than you borrowed. That can make the process of paying back to be harder and is the main reason why most people default completely. Which in turn negates their credit scores and makes it hard to access loans in future.
See lessWhat is behavioral economics in personal finance
Behavioural economics is an important aspect to learn to get successful in business, it involves being aware of people's spending habits and using them to plan on your marketing and selling strategies. One aspect of it is knowing that people spend emotionally and not logically most of the time. TherRead more
Behavioural economics is an important aspect to learn to get successful in business, it involves being aware of people’s spending habits and using them to plan on your marketing and selling strategies.
One aspect of it is knowing that people spend emotionally and not logically most of the time. Therefore, you can use people’s desires and wishes to make sales. For instance you can focus more on how products will benefit people emotionally in your advertisement.
See lessWhat are the ethical values and principles in personal finance
I usually say that the most important ethical value in financial management is discipline. Without discipline, you will be carried away by financial desires and that can lead to so much stress and can lead you to some habits that are not so good. That is why it is best to learn financial discipline.Read more
I usually say that the most important ethical value in financial management is discipline. Without discipline, you will be carried away by financial desires and that can lead to so much stress and can lead you to some habits that are not so good. That is why it is best to learn financial discipline.
Another great value pertaining finances is knowledge and intelligence. This can be gained through constant research and exploration. You will spend money and make money better when you are aware of what exactly to do.
See lessHow to maintain a financially responsible lifestyle
Financial responsibility requires so much discipline and self awareness. Without which you could spend carelessly and unaware of what you are doing wrong. It is best to learn to budget your money well and it starts with being aware of how much you earn and what expenses you have having grouped themRead more
Financial responsibility requires so much discipline and self awareness. Without which you could spend carelessly and unaware of what you are doing wrong. It is best to learn to budget your money well and it starts with being aware of how much you earn and what expenses you have having grouped them into important needs and wants.
Then with the base of self awareness and a good plan set, you can do it with discipline and consistency. It is something you learn to do and practice makes it easier.
See less