An important aspect of managing your money is that of reducing your expenses. You can achieve this in various ways, as shown below. At the store Resist impulse buying. Ask yourself these questions: Do I really need it? Do I need it today? What if I do not buy it now? Can I purchase it…
Borrowing is, many a time, a convenient way for you to purchase something that you would otherwise take a long time to save up for. For example, home buyers rarely can settle the full cost of a home. Most borrow a large part of the purchase price, except for the down payment as security. Mortgage…
Dear Viewers Today we are celebrating our first anniversary since the launch of our portal – as your independent trusted portal on retirement and financial capability. We have over the past 12 months brought to your attention: Information on the social security contributory pension. Information on money management and financial matters. Information on life events…
The term social security benefits refers to various benefits (contributory and non-contributory) that fall under the remit of the Department of Social Security (DSS) in accordance to the Social Security Act (Cap. 318.) whereby the applicant would receive monetary benefits. Benefits include pension payments to retirees, payments to widowers, invalidity pension payments, maternity payments, payments…
First and foremost, credits are credited contributions by the government and when entitled to, fill the gaps for when there are missing contributions in our contribution history sheet. Do not forget that the pension rate depends on the amount of contributions an employee contributes and credited contributions for which s/he is entitled to. Credited contributions…
When you know your needs, your goals and your risk tolerance. When you have done an investment plan, outweighing different types of products, and choosing the one that best suits you, among many alternatives. When you have checked all the charges involved. When you have got plenty of money in your cash savings account –…
Claiming a pension at state pension age (as per new pensions reform), not at the age of 61 (early-opt-out) and remaining in employment beyond retirement has a lot of positive benefits: to boost your pension to keep fit and active to enjoy a higher quality of life (basically two incomes – a pension and a…
Maltese persons who maintain an ordinary residence in Malta and are employed on a contract of service abroad, not in an EU state and/or with an institution of the EU, WHO, ILO, UN and who do not pay national insurance contributions (NI) in the country of employment have the option to pay a…
Investment … to put money to use; financial products are something you buy or put your money into to get a profitable return; such as compound interest products. The simplest way to save is to put a sum of money aside and continue adding to it periodically. However, money saved in this way is not…
Prices increase (inflation) and thus everybody would want their incomes to increase so as to keep up with rising prices. Obviously, prices of selected goods may increase for reasons unrelated to inflation. For example, the price of vegetables and fruit may rise when they are in shortage due to either heavy rainfalls or droughts. With…
