Lawrence Zammit wrote in the Times of Malta (May 20) about poverty in Malta, quite rightly pointing out the complexity of the issues concerned but also remarking about how various governments have strengthened the social safety net and the array of social benefits that are available to many households, particularly those that are vulnerable. Putting…
Inflation is a recent buzzword used by many people who may not necessarily know what it means to show how smart they are. You become wiser by not only knowing what it is but how it affects you in your daily life and how to make the right choices. What is inflation? Inflation is the…
ĠEMMA’s webinar on Putting Retirement on a Young Person’s Radar tackled the paradox that young people need to plan for their retirement at a time when they have significant pressure on their limited finance, priorities to get on the property ladder and naturally enjoying their new found freedom and youth. This notwithstanding, financial freedom in…
Sharing your life with someone you love is probably one of the most exciting feelings one can experience in life. Love means sharing time, experiences, happy moments and not so sunny days together. Should you share everything? No. There are things in life that you shouldn’t share even though you love your partner with…
Social Security has provided financial protection for our people for over 66 years. For over 66 years, the Department of Social Security and relatively recently the Income Support and Compliance Division, have catered for the social rights of the Maltese and other residents of the country. Since Malta’s accession to the EU, they cater also…
Let’s just assume for a second that you are managing your income, budget, and mapping out all your spendings and expenses every month. You’ve got your ‘planned’ expenses such as insurances, memberships, subscriptions, meals etc. covered. If, however, your car suddenly breaks down or your laptop doesn’t switch back on – would you have enough…
Now that you have decided to take the leap and further your studies overseas, it’s time to talk about the money challenges you might face. Our intention is not to add any extra pressure BUT rather to prepare you for these challenges, especially if this is your first time living abroad for a lengthy time.…
The difference between needs and wants may seem quite straightforward to adults but to the younger generations, the lines may be blurred. Prioritise your budget and take charge of your money. How do you do that? First things first. Identify where your money is going on a day-to-day basis. Once you start doing that, you…
Cost of living increase, and in its abbreviated terms, COLA, adjusted yearly according to the yearly budget, is an increase in income to mitigate rising prices and to maintain a specific standard of living. The adjustment to the cost of living comes into effect in January of the following year. A full-time employee is entitled to the full increase,…
As an individual, what is affordable depends exclusively on your own income. First your needs have to be prioritised, and then the remaining income can be shared between spending on wants, maintaining a buffer for unexpected costs, and saving for old age. Additional considerations come into play when two persons form a couple. In this…
