Financial planning has never been an easy task, but the pandemic has made it even more difficult. Finance professionals are used to consistency and accuracy. They are not trained to plan for unclear economic conditions. No one is! The five-year plan that we are supposed to send to our supervisors is now completely out of the window. How can you plan for your finances, if you do not know what is going to happen in the future? #1: HAVE A
One of the most important decisions you will ever have to make is choosing the person to whom you get married to. Getting married will not only shape your entire life, but also your finances. It is critical to choose the right partner that can bring you happiness and influence your finances in a positive light. That being said, here are four ways marriage can change your finances: DIFFERENCES IN FINANCIAL HABITS Whether you marry a Singaporean or a foreigner,
Generally speaking, a financial plan is a comprehensive evaluation of an individual’s current and future financial state. Crafting a financial plan involves using known variables to predict income, asset values, and withdrawal plans. Thus, you have to go through a series of steps to adjust your savings and spending habits. Here are just some of the steps: STEP 1: KNOW WHERE YOUR MONEY GOES Your top priority is to develop a detailed list of where your money is heading to.
They say that love is unconditional, selfless, and priceless. But the truth is, you have to spend money for roses, dinner, or even diamonds during special occasions such as birthdays or Valentine’s Day. And these gifts do not come cheap! The influence of money on the relationship does not stop there. It is significantly present in marriage. In 2012, a study found that the more regular couples argued over money, the more likely they were to get divorced. There are
So you got your first full-time job after graduating…what happens next? You may be lost and unfamiliar with the new responsibilities ahead. So, it is best to keep your finances in check. These steps will help: 1. ALLOCATE YOUR FINANCES BY BUDGETING List down your expenses (i.e., fixed and variable), your income, and debts. Be aware of your cash flow for at least 2 weeks to help you set up a budget. Do not panic if you still have to
