13 Dec, 2007
Short-Term Savings Accounts –
It is a very good idea to keep at least a little bit of money in a savings account, especially one which you can easily access when you need it, just in case of an emergency or the need for a sudden expenditure.
Reasons that you might benefit from opening a short term savings account over a long term account:
- You may need to spend money quickly or even urgently for a variety of reasons including to fix up your home, repair your vehicle, and so on.
- You might need to help a family member or friend out during a personal emergency.
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7 Dec, 2007
The most important key to the effective management of money involves time. The more time that you are capable of investing in the management of your affairs, the greater the return will be as a result of your investment. The earlier that you begin to manage your money, the more effective you will be when it comes to accomplishing your goals. There are too many people who try to go about managing money when it is too late in their life, and managing the money you have left is not as effective as managing your money as it comes in. In essence, there are four different questions that need to be answered by any money management programme that you participate in.
- What financial goals do you have?
- How soon do you want to achieve your financial goals?
- What funds do you already have available?
- What risks are you willing to make in order to reach these targets?
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