Buying a property is perhaps one’s most significant expense in life. For most people owning a home is one of the most important goals. Others, on the other hand, view property investment as a way of generating wealth through buying with the possibility of selling at a higher price in the future or earning monthly…
The list of monthly expenses goes beyond the costs related to buying a home. Here’s a list of essential expenses to include in your monthly budget: Home Loan Repayments Most likely, this will be your biggest ongoing expense. Have a chat with your bank representative to go over a fixed monthly payment schedule that works…
A study in the UK by Slater and Gordon, carried out in 2018, found that money worries top the list of reasons married couples split up. Over a third of those questioned said that financial pressures were the biggest challenge to their marriage, while a fifth said most of their arguments were about money. One…
ĠEMMA, the Government initiative within the Ministry for Social Justice and Solidarity, the Family and Children’s Rights and the popular PRIME TIME programme have teamed together to exhibit in a creative style the educational work that ĠEMMA has been implementing on financial capability. These short televised sessions conducted by the renowned Owen Bonnici will be…
If you have multiple debts – more than one credit card, home loan, car loan – have you ever wondered what strategy you are to adopt to pay off your debt. Earlier this quarter ĠEMMA posted a series of articles with regard to debt. These included tips to reduce the cost of your credit card…
An overdraft is a way of borrowing money from your bank, linked to your current account – basically so you can occasionally spend more than you have. A bank overdraft can be authorised or unauthorised: Authorised overdrafts are arranged in advance. You agree a borrowing limit with your bank, and you can spend money up…
Beyond the long list of costs related to buying a home, maintaining a home costs money, too. In this section, you’ll find information about the types of essential expenses you will need to budget for. Mortgage Payments This will be one of your biggest on-going expenses. Speak with your bank about automatically deducting your mortgage…
The decision to get insurance depends on your circumstances and your stage in life, such as: o Buying a home or renting a home or an apartment. o Starting a business o Buying a new vehicle. Insurance can protect you and your loved ones from financial loss or hardship. Insurance can help cover costs if…
Buying a house is exciting and life-changing. Saving for the deposit that you place when you come to take a loan is important. Remember, the more money you put down upfront, the less you will borrow, and the lower is the amount of interest you will pay on your loan. Targeting Your New Home In…
Buying a car is exciting, but it also brings financial obligations. If you are thinking about getting behind the wheel, it is time to carefully review the costs associated with buying a car. First and foremost, you need to choose the right car. Buy a car that matches your driving habits and budget. You may be…
