Archive for October, 2006
Money Management for families.
Tuesday, October 17th, 2006Most of us don’t live alone - we have families with whom we share our lives. And money plays a big role in determining how families get on.
It’s sad, but true - money troubles are a major cause of family discord, and can even end up in broken homes. Not to mention that when marriages […]
Lending to family and friends.
Monday, October 16th, 2006It’s very difficult to say no to family or friends, if they’re asking for a loan. This isn’t about the occasional dollar or two, when someone runs out of small change or needs that little bit more because they’re short and can’t charge it for whatever reason. It’s more about regular borrowing at the end […]
Keeping your money!
Friday, October 13th, 2006Once you’ve started saving, you’ll find that news gets around! It might seem funny but it isn’t - the idea people get is that since you don’t want to spend, they might as well spend it for you!
The more insidious offers that come are those pitched as “an investment”. Take the example of insurance policies […]
The other use for an emergency fund.
Thursday, October 12th, 2006All’s well as long as there’s a steady flow of income every so often; while it may not be all that you desire, it at least ensures that you’re able to take care of your basic needs. But what do you do if there’s no income?
Firing. Layoff’s. Outsourcing. Bankruptcy. These happen all the time. If […]
Building an emergency fund.
Wednesday, October 11th, 2006If you’re looking around for ways to build up an emergency fund, look here. 22 suggestions to put away a little money at a time.
As we saw earlier, small amounts every day can add up significantly over time. The real advantage is that you don’t feel the pinch when you do a little every day.
The […]
Not the solution!
Tuesday, October 10th, 2006Some people think that payday loans are a decent alternative to credit cards or other alternatives. After all, they’re easy to get. And the fee seems to be reasonable - and small. And this is for an emergency anyway….
The problem is that the real cost is far, far higher than you think. It could range […]
Dealing with unexpected expenses.
Monday, October 9th, 2006Insurance, as we saw, can protect against major disasters. But it doesn’t necessarily cover all possibilities - and in some cases (example health insurance), you may have to pay a part of it still, if there’s a co-pay or deductible clause.
Even otherwise, there could be any number of minor unexpected expenses. Your car or laptop […]
Buying insurance.
Friday, October 6th, 2006The key point to remember about insurance is that it involves a cost. And while you do need protection, it doesn’t have to be excessive.
For instance, when you’re fresh out of college and single, you don’t have anyone depending on you. Typically, if your parents have provided for themselves, you don’t have anything to provide […]
Emergency money.
Thursday, October 5th, 2006The second type of emergency we’d seen is those that land you with unexpected expenses. Falling sick, and need hospitalisation? Or maybe, had an accident with your car?
Quite often, we tend to think “That won’t happen to me”. If it doesn’t, all’s well - but what if it does? Are you prepared?
Insurance is the best […]
Tolerating risk?
Wednesday, October 4th, 2006We talked about the three kinds of disaster yesterday :
1) Controllable disasters, when plans go awry due to lack of foresight.
2) Uncontrollable disasters, which hit you with additional expense and
3) Uncontrollable disasters, which hit you with loss of income.
Controllable disasters usually occur when you’ve not evaluated your options, or when you take risks that are […]