Your attitude to money management is not the same across different stages of your life. Indeed your attitude to money management changes as you grow older and you assume greater life responsibilities. The stages in your life journey when it comes to money management are basically 5. The Table below presents how your attitude and…
This post presents money management Rules of Thumb for teenagers and young adults are to follow. Rules of Thumb are useful short-cuts that nudge people of all ages and in different contexts to make financial decisions. Research overseas shows that most young people welcome tips and Rule of Thumb guidance to help them manage their…
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…
ĠEMMA on 3rd November held a webinar on key matters that one should be aware of with regard to the social security contributory system. If you missed the Webinar and you wish to view it click here. Missed the Webinar … Do you want to go through it? Click here to download the presentation delivered…
It is important that you note that you must have paid a minimum threshold of social security contributions for you to qualify for the Social Security Contributory Pension. The amount of social security contributions that you must pay depend on your date of birth. These are presented in the Table below. Date of BirthTo Qualify…
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…
After some solid thought you have decided to invest in a Personal Pension Plan. A number of financial services providers offer Personal Pension Plans. We at ĠEMMA strongly suggest that you shop around before you make a decision. We ask you that, as a minimum, you should take following matters into account: Ask for the…
Prior to investing your savings into a private retirement pension product or any other savings or investment product, it is important that you think carefully about your unique needs and overall financial situation. This will allow you to determine whether the investment is right for you. The following are matters you should take into account:…
Retrospective – If you stop working for a period during your working life and resume at a later stage, your state pension may be affected. If you do not have a full contribution record, you risk not qualifying for the full two-thirds pension. This means you will have a reduced pension income. If you are…
The Handbook is in Maltese and provides guidance and tips in relation to: A self-employed person’s obligations under the laws of Malta. Importance of paying yourself a wage as well as family members who work with you. Separating immediately on being paid the amount you need to pay for VAT and income tax purposes. Importance…
