Banks offer various financial packages to cater for different stages in one’s life. Amongst the diverse accounts, you can start by opening a current account which is an account from which money may be withdrawn without notice. It is typically an active account catering for frequent deposits and withdrawals by cheques. This type of account…
The right time to move out of home is different for everyone. Some people leave as soon as they are able, others might wait until they’ve saved enough money to buy their own place. Before you move out, create a budget to help you work out your moving costs and your new living expenses. You…
Buy now pay later services are offered by retailers and service providers so you can buy a product immediately and delay payment. You then pay off the product in installments over a longer period of time. Buy now pay later services are often advertised as ‘interest-free’ or ‘0% interest’, but the cost will add up…
In 2016, the Money and Mental Health Policy Institute, UK (http://www.moneyandmentalhealth.org) issued a research paper titled ‘Money on Your Mind’. The research paper found that money management and mental health are intricately linked. Mental health problems tend to make it hard for people to manage their finances and that living in financial stress exacerbates mental…
Every day, we make decisions that affect our financial performance. Often we lack the basic financial skills that allow us to understand the financial implications of our decisions. Thus, to alleviate your stress and make sure you do not start the New Year with a tight budget or with a feeling of guilt for having…
There is a link between having money problems and poor mental well-being. Worrying about your money situation can render you low. And being low is likely to make it tougher for you to manage your money. What is Poor Mentally Well-being? We all are likely at one point or another in our life to face…
Most of us will have some memory loss as we age. Significant memory loss, arising from illnesses such as dementia, can, for some people, be a problem. Memory loss can make it difficult to stay in control of your money. Things you found easy before – like checking your bank statements or paying your bills…
You start making relationships the moment you are born. Each relationship differs according to the relation we have with the persons in concern. Adolescence lasts for several years from around 11 years of age up 18 years of age or older. It involves all kinds of changes, to your mind, changes in your emotions and…
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…
