You cannot stop inflation from happening. Prices of goods and services will go up. It is all part of the economic cycle. For as long as you are a consumer, you need to start caring about inflation because it will affect you whether you like it or not. No one is exempted from the pain of having to go through the rising prices of goods and services, wherever you are in the world. The good news is that there are some things that you can do to protect yourself from inflation
All of us who are stuck in the rat race know the daily stress of work and the anxieties we have for our future even as we worry about the present issues that our families are struggling with. The chart of expenses below compares the expenses of the regular employee to their house helpers. The comparison may seem funny but the situation also tugs at reality in a major way.
Putting your money on a low interest savings account is not such a good idea especially if you have big financial goals such as buying a house, sending your kids to college or saving for retirement. The only way to get more money is to make your money work for you by investing it. Investments will generate more money for you in the future through interests and price appreciation. In other words, you invest to create wealth.Read More »
Money has always been a top source of stress for most people. If not addressed, debt and worrying about money can lead to serious physical, emotional and even relationship problems.
How to solve money problems then? There are tons of financial advice that people probably already heard or read about. In fact, most of these advices are simply common sense yet one the greatest mysteries about life is that no one really follows them. It looks so easy to do but for most people, it is very difficult to follow.Read More »
People who have a 9-5 job are familiar with the highs and lows of the financial tide on a monthly basis. First, you start off feeling rather ‘rich’ after getting your salary. Then as you use it up, you start feeling poorer and poorer, your wallet getting emptier as the days go by until it gets filled up again when you receive your salary.Read More »
You have been working very hard all your life. Yet, you found yourself in the same financial situation over and over again. Your income is barely enough to cover your basic needs. You are trapped in the rat race. You often wonder, what is it that you have been doing wrong? How come there are some people who are getting richer and richer by the day while you who had been working very hard is getting nowhere?
Parking your money in a regular savings account is never a good idea. Warren Buffet, one of the world’s most successful investor of our time has this to say about investing in cash:
The one thing I will tell you is the worst investment you can have is cash. Everybody is talking about cash being king and all that sort of thing. Cash is going to become worth less over time… Cash is a bad investment over time.”
An income is the money that you received from work or from your investments. Without income, you will not be able to pay for your living expenses.
There are two types of income: active and passive income.Read More »
Have you ever wondered whether having a credit card is good or bad for you? For most newbies in their first jobs, getting a credit card is a sign that they are finally independent! It is a cause for celebration and may cause many to eagerly take the irresponsible first swipe.
Most people dream of winning the lottery. However, did you know that according to several studies, 70% of lottery winners ended up broke within 5 years of winning? Similar studies also showed that the higher the amount of winnings, the higher the probability of getting bankrupt. Most lottery winners found themselves in even worse financial situation than before they became rich. So, where did it all go wrong?
As you pack your Christmas decorations back in their cabinet, the money that you’ve blown away during the holidays is now finally sinking in. The mere thought of looking into your credit card account balance may even petrify you. If it’s any consolation, you are not alone in your predicament.