Category: Basic Financial Management
Changes To Child Benefit Payments – What You Need To Know
Changes to child benefit payments for thousands of higher rate tax payers come in to effect in April 2013. Here’s how to keep your tax-free child benefit if you’re a higher rate taxpayer. If you are a higher rate taxpayer that currently receives child benefit payments you could lose thousands of pounds a year when [...]
Basic Financial Planning – How To Better Manage Your Finance
It is easy to discuss financial planning in general terms. However, just as words have different meanings to different people, so does financial planning. There are some ideas that never vary. When discussing financial planning, the objective is to maximize wealth. Maximizing wealth does not mean a person has to become rich first. It also [...]
A Common Sense Guide To Loans
Loans are issued by banks and other financial companies. They allow you to borrow a fixed amount of money, which you then pay back in instalments over an agreed period of time. This could be anything from 12 months to five years typically, although longer repayment periods are offered on some loans. You’ll pay back [...]
Debt Management Plan – What Does It Mean?
A debt management plan (DMP) is a short term financial solution that is designed to help you re-pay your debts under a more manageable payment plan. Debt management is ideally suitable for those who have un-secured debts of over £3000 and less than £15,000. Lower affordable payments. Under a debt management plan you agree [...]
Management of Cash
Most businesses or people will hold certain amount of cash as part of the total assets held. The amount of cash held, however, may vary considerably between businesses and people. For a person, it is generally advisable for them to hold at least 10% of their income in cash in the bank. This is not [...]
Getting Married on a Credit Card and a Personal Loan
A friend told me he is planing to get married last week. My first question to him as a financial planner was, how much money have you saved for the wedding? Well I don’t have anything saved yet?, I said well, when do you plan to get married? he said, probably a years time. I [...]
