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PRESS RELEASE February 2023 Following the successful collaboration between ĠEMMA and the Malta Bankers’ Association (MBA) in delivering a financial literacy pilot project for pensioners, that ran last October 2022…
You’re 18, an adult and your life and priorities are changing fast. Money is a central part of your life and so is knowing how to make and manage it.…
A few tweaks to your every day-to-day life can reduce your carbon footprint and save you hundreds of euros this year. This is not about turning your life upside down…
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…
High-interest rates discourage investments due to high borrowing costs. Inflation, on the other hand, discourages people from spending as they can buy less with the same amount of money. Central…
Exploring ways how to earn money is a useful activity. It is good that a person tries to become financially independent. This applies both for a person who is seeking…
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…
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…
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…
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…
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…
One of the biggest challenges when managing your finances is to spend responsibly and spend less. Self-control may be hard to practice but it will help you manage your money…
You work too hard, you work long hours and still lose money instead of saving up? How come? We live in a culture that has a habit of making you…
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…
Living within your means is the key to good financial management. This requires a balancing act between your monthly income and monthly expenditure. Adjusting your income may be difficult in…
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…
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…
Talk about bills and where money goes. Explain ways to pay including direct debits, monthly bills, etc. Have children help you find the best price by comparing prices in stores.…
building block 1 Teaching your children 3 to 4 years : link building block 2 Teaching your children 5 to 6 years : link Teaching your children 7 to 8 years o…
Through Saving At the Shops Through Adverts Through Saving o Children can start to understand the idea that you have to save money for things. Learning to wait will help…
Through play Around the House Before you go shopping At the Shop or Supermarket Click on each tab below for further reading. Through play Children love playing shop. Make it…
Buying a car is exciting but it also brings other financial obligations with it. So before getting behind the wheel, think about other associated costs. Where to start? 1. Choose…
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…
All those who own and love pets know that their care comes at a cost. They may be our furry babies and though they don’t cost as much as the…
Ben Camille discusses the importance of teaching your children money management Research shows that kids grasp money concepts and have many of their money habits set at a very early…
Ben Camille discusses, together with personalities, including Peppi Azzopardi, the importance of having a rainy day fund. Why is a rainy day fund necessary? To put it simply, a rainy…
“Wow…it looks so nice”. “What a great discount”. “I must buy this one”. Such thoughts frequently pass through our mind. These feelings are normal and shared by many. As consumers…
ĠEMMA invites you to join the launch of the Financial Capability Strategy 2022 – 2025 which will be live-streamed on its Facebook page on Friday, 14th of January, 2022. Following…
This is one of the videos ĠEMMA produced with the Central Bank of Malta in our money matters and the family. Let me introduce the ĠEMMA family. I am Tony. …
It is essential to understand your and your spouse’s “money personality,” as we all have a unique way how we think about money — often shaped by how we were…
This is one of the videos ĠEMMA produced with the Central Bank of Malta in our money matters and the family. Download the Central Bank of Malta and ĠEMMA Video…
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There are many reasons why arguments arise within a family on money management. This article is based on articles by Investopedia (www.investopedia.com/articles) that discuss money issues in families. Investopedia establishes…
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…
Continuing from Part 1, these are the next 6 top ways of influencers make money! Website advertising For years it’s been common practice for bloggers to have advertising on their…
This is one of the videos we produced with the Central Bank of Malta in our budgeting series. Let me introduce the ĠEMMA family. I am Tony, Maria’s husband. I…
This is one of the videos in our budgeting series we produced with the Central Bank of Malta . Let me introduce the ĠEMMA family. I am Tony. I am…
Swedish children look forward to the weekend for their once-weekly candy fix. But beyond being a treat, these Saturday sweets teach a bigger lesson. Source:- https://www.bbc.com/worklife/article/20211004-lrdagsgodis-swedens-saturday-only-candy-tradition On a Saturday afternoon,…
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…
We are living in an increasingly mobile world, with Wi-Fi available almost anywhere, anytime, and more recently always on Internet. It is no surprise that just every bank in Malta…
This is one of the videos we produced with the Central Bank of Malta in our budgeting series. Let me introduce the ĠEMMA family. I am Tony. I am Maria’s husband. I work as a manager in a large business in the services…
Do you use Gumtree to buy or sell online? If you do, note that Gumtree has about two million ads live at any one time, it’s going to be hard for Gumtree to stop every fake ad or take down every copycat site instantly….so being aware of…
This is one of the videos we produced with the Central Bank of Malta in our budgeting series. Let me introduce the ĠEMMA family. I am Tony. I am Maria’s…
This is one of the videos we produced with the Central Bank of Malta in our budgeting series. Let me introduce the ĠEMMA family. I am Tony. I am Maria’s…
We live in a culture that increasingly makes you feel guilty if you are not spending half your time at work. Yet have you ever stopped to think, whether working…
This is one of the videos ĠEMMA produced with the Central Bank of Malta in our budgeting series. Let me introduce the ĠEMMA family. I am Tony. I am Maria’s…
Do you stop and wonder how retirement will look like? Do you sufficiently understand how the state pension works so that you can make informed decisions of the income this…
The national Strategy for Retirement and Financial Capability recognises that the early inculcation of financial capability core skills (budgeting, planning, saving, value of money, financial resiliency, planning for the future,…
For many, gardening is a great way to get outdoors and save money by growing some of your own food. Even better, it doesn’t have to cost the earth. So…
This is one of the videos we produced with the Central Bank of Malta in our budgeting series. Let me introduce the ĠEMMA family. I am Tony. I am Maria’s husband. I work as a manager in a large business in the services…
This is the eighth video that Ben Camille and ĠEMMA produced together. In this video Ben Camille and Xtrina discuss tips that you should follow vis-a-vis credit card use. Ben…
ĠEMMA on Thursday 29th July held its third Webinar on scams and fraud. A third Webinar was organised to generate further awareness and understanding of scams and fraud given that,…
Another video produced with the Central Bank of Malta in our budgeting series. I am Tony – I am 42 years old. My wife, Maria, is 40 years old. We…
This is another video we produced with the Central Bank of Malta in our budgeting series. Let me introduce the ĠEMMA family. I am Maria. I am Tony’s wife. I…
The number of cases is significant – HSBC Malta CEO https://timesofmalta.com/articles/view/senior-banker-taken-aback-by-financial-abuse-of-the-elderly-in-malta.888283 Elderly people are facing financial abuse, including by their own family members who help themselves to their savings, deposits…
ĠEMMA and the Central Bank of Malta entered into a strategic partnership in 2020 to develop a series of education videos on budgeting. You can find all of these videos…
On 18th June ĠEMMA posted the results of a survey it carried out the knowledge amongst persons who are born on and after 1962 on how the pension system works…
This is the third video we produced with the Central Bank of Malta in our budgeting series. Lovely day. After weeks locked in because of COVID-19 I decided to go…
ĠEMMA’s Video Series on Budgeting – Tipprepara għat-tieġ This is the seventh video we produced with the Central Bank of Malta in our budgeting series. My niece, Kylie is getting…
ĠEMMA Launches its ĠEMMA FTIT 2 Interactive Play Educational Video: Introducing Money Management Skills to Students from Level 7 to Sixth Formers Last year ĠEMMA launched the first interactive play…
This is one of the videos that Ben Camille and ĠEMMA produced together. In this video, Ben Camille and Xtina discuss the importance of teaching your kids money management skills…
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The ĠEMMA 5th Household Survey on Money Management can be downloaded by clicking here. The following are some of the key findings: With 79% responses (previously 84%), overall the general…
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Today’s post continues ĠEMMA’s discussion on a rainy day fund. How do you get started to build a rainy day fund? We suggest that you start putting a small amount…
If you have followed our ĠEMMA posts as well as webinars on the Pulse Money Management survey you will find that we speak of a rainy day fund. Before proceeding…
Being self-employed definitely has its advantages – for one, you are your own boss. Yes you are also likely to face money management challenges. Here are some practical tips you…
Are you self-employed? Do you know what makes a self-employed person financially capable? A study titled ‘Financial education for entrepreneurs’ (ACCA – 2014) concludes that a self-employed business owner to…
In putting together the new 2021-2024 Strategy for Financial Capability ĠEMMA identified, from campaigns it ran between 2017 and 2020, that short campaigns are to be complemented by a major long…
ĠEMMA regularly posts on the use of your credit cards. If you do not use your credit well you are likely to get caught up in financial issues – falling…
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…
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…
For the 4th consecutive year, ĠEMMA as part of its Onfoq bil-Għaqal campaign is releasing 5 new recipe videos that are simple to make and at a low budget. Look…
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…
The ĠEMMA team has uploaded a new resource tool – the ‘Savings Goal Tracker’. First you need to set your savings goals. What are you saving for? Your savings goals…
ĠEMMA on 7rd November held a webinar on key matters that one should be aware of with regards to Household Money Management. The panel consisted of Josef Bugeja – Secretary…
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…
In the first part of this post we discussed the importance of determining whether you will be able to afford to go flatting and still have enough money to have…
So – you have decided that it is time you reach out for yourself and start living on your own or share a flat with some mates. First thing that…
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…
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…
When it comes to money – do you know what your personality is? Do you spend, and let tomorrow worry about itself? Do you worry so much that you save…
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…
There are interesting findings in the third survey, commissioned by ĠEMMA, within the Ministry of the Family, Children’s Right and Social Solidarity and undertaken by EMCS for the month of…
The Handbook is in Maltese and provides guidance and tips in relation to: Importance of budgeting. Avoiding debt. Increase your abilities to increase your earnings. How to seek employment. How…
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…
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…
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…
ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund. The campaign is directed towards different 14 categories of persons. As part of its…
Click below to download the ĠEMMA e-Book on How to Go Self-employed in Malta. Click here to see the ĠEMMA Webinar on being Self-employed. On 30th September, ĠEMMA organised a…
Interest is often thought of as the amount of money a bank charges you for a loan you take out. The term interest also refers to the income you earn…
Are you thinking of going self-employed? Or, are you self-employed but not sure whether you are meeting the necessary regulatory obligations that self-employment brings with it? This ĠEMMA eBook is…
In a recent post, we discussed how life expectancy could impact your retirement planning. There are other key factors to take into account when planning for your retirement. The first…
ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund. The campaign is directed towards 14 different categories of persons. As part of its…
An important aspect you need to take into account when you are planning for retirement is determining when you will actually retire. Do you wish to retire on your statutory…
ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund. The campaign is directed towards 14 different categories of persons. As part of its…
The government pension system was introduced in 1979. It was designed in a manner that the pension income a person receives over time would be 2/3rd of the gross wage…
It is crucial to understand how the 10% social security contribution you pay monthly as an employee works. A wrong understanding of how this works can affect your decision making…
ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund. The campaign is directed towards 14 different categories of persons. As part of its,…
Before, life expectancy was such that enjoying a long retirement was not possible. In fact in 1960, the life expectancy of a Maltese male person was of 66 years, whilst…
The poster sets out the key message of the campaign. We at ĠEMMA encourage you to print any one of these posters and circulate them to people you know –…
ĠEMMA Know, Plan, and Act within the Ministry for the Family, Children’s Rights and Social Solidarity and the HSBC Malta Foundation and are once again collaborating on a financial capability…
ĠEMMA’s mandate is to inculcate retirement and financial capability – focusing primarily on the following financial capability life skill domains: budgeting, saving, managing debt, preparing for the unexpected, planning for…
You decided to go overseas to further your studies or to carry out an internship necessary for you to graduate. Do not under estimate the money challenges of studying abroad…
The ĠEMMA team has revamped its Compound Interest Calculator. The compound interest principle is one of the most important principles in money management. Compound interest and time are your most…
The ‘Tools’ section on the ĠEMMA portal has been refreshed. On this page you will now find the following:Calculators Eligibility Calculator for Retirement Pension Children’s Allowance Calculator In Work Benefit…
The Voluntary Occupational Retirement Pension Scheme (VORPS)View the Presentation Malta is experiencing an ‘employee’s’ market. This means, that in a state of play where unemployment is nearly zero, it is…
download, read and shareWhat will your retirement look like? Most people do not start planning for their retirement until they are in their late 40s. There is a reason for…
Going self-employed in Malta – As you have seen (click here to read our previous post about self/employed part 1), there are a number of issues to take into account…
Going self-employed in Malta – Wondering from where to start? What steps to take? What applications to submit? ĠEMMA has got a guide — Self-Employed Start-Up — divided into two…
A calculator by the financial and capability group for you to make use of, to plan expenditure during the festive season (December and January). Click here to download it for…
ĠEMMA was invited on Matilde’s TV programme on PBS where the discussion focused on • money management, • future planning and state pension, and • investment planning.
If you get the facts about saving and spending wisely and follow through with an active realistic budget an intelligent plan that prioritises expenditure and eliminates certain wants choosing one…
A big transition. Having a baby is one of the most exciting experiences, yet it changes your priorities. A baby requires commitment: It involves lots of hard work from the moment…
Your wedding is one of the happiest days of your life. In addition, weddings in Malta are a major social event, traditionally paid for by the bride’s father. Whoever is…
We have been researching games and we came across this brilliant budget game – https://natwest.mymoneysense.com/students/students-8-12/the-budget-game/ If you are a teenager, you will love this NatWest Budget Game. Get yourself playing…
You pay more money over time in credit card interest charges. Focus on paying off debt first and place priority on those debts with highest interest rate. Therefore, jot down…
Going abroad is a financial goal, that requires thought, planning and a travelling budget. It is not just buying a flight ticket and placing a deposit on accommodation. There is…
What is instant gratification? Do you struggle with instant gratification? Why do you suffer from instant gratification? What can be done? What is instant gratification? Instant gratification is the desire…
Where is your money going Month to Month? Identify where your money is going on a day-to-day basis. Then, the next step is to look where your money is going…
… often passed on by means of a legal document called a will or testament. A will does not take effect until the testator’s death, and it can be cancelled…
Informative articles of value to parents. Teaching your children – 3 to 4 years5 to 6 years7 to 8 years9 to 11 years
In November 2018, the Gemma initiative held a seminar on the findings of a survey on financial literacy in Malta. The survey was based on the OECD / INFE financial…
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living, over time, are often reflected in a cost of living index.…
If you are a self employed individual in Malta, you are still required to pay your National Insurance (NI) contributions. The rate that needs to be paid is of 15%…
What is a budget? A budget is a written plan that helps you know how much money you have coming in, what you need to spend it on and how…
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…
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…
Targeted towards families having an annual income from a gainful occupation and with children below 23 years of age living within their household. The benefit of this initiative is to…
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…
Remarrying or living with a new partner or spouse often involves adjusting to a different financial relationship. Accommodating changed money roles and personalities may require breaking old patterns and adopting…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
By now, you would have surely read our first post related to saving on the back-to-school list. By acting wisely, the necessities for school will not become a financial burden every September.…
When you decide to save money, you have taken the first step towards making a budget. In order to save, you must plan and act wisely by deciding what kind…
Our spending behaviour survey carried out on facebook is complete. Our aim We conducted a research exercise to learn more about the spending behaviour and money management skills of adults…
Better safe than sorry, Become well-informed: General fraud prevention tips Safeguarding your debit / credit card Internet banking fraud protection Buying safely over the Internet The following are general fraud…
…for families with an annual income from a gainful occupation and with children below 23 years of age living within their household. The benefit incentivises more people to work and…
Part of a superb series of calculators designed to provide an insight of how best to start planning financially for the quality of life you would wish to have when…
Learning is a lifelong pursuit, which is also celebrated in terms of study credits creditable for your study years upon retirement. You can go on our page for more information.…
In our prior posts, we have discussed the assessment of benefit claims, the outcome of which is your pension payment issued on a four-weekly basis. Is the state pension paid…
In a divorce or separation you will have to divide your finances. The first step in dividing your finances is making sure you know exactly what you own and owe,…
Separating or divorcing is an enormous transition that can be very stressful. It will bring significant changes to you. In the event that you, unfortunately, have to go through a…
KNOW ABOUT Power of Attorney A power of attorney (POA) is a document that allows you to appoint a person or organisation to manage your affairs. All POAs are not…
Are you eligible for a pension? How much pension will you get? Do you have enough contributions to retire at age 61 instead of at the respective pensionable age? Are…
First and foremost, there are two ways to use income–you can spend it or you can save it. One thing is certain, that if too much is spent and too…
Perhaps the most dangerous enemy of saving money is impulse buying. Have you ever bought things on the impulse of a moment and then feel guilt or regret for having…
Saving Money You save money because you: Want to buy something in the future. You want a safety net in the event that something goes wrong. You want a quality…
Although you might not be conversant in financial matters, it is never too late to comprehend them. Through this website, money management topics are being made simple by following simple…
Track your spending by making use of the budget planner tool which is easily accessible. This tool enables you to list your expenses against your income to achieve your financial…
The Budget planning presentation highlights some useful tips how to improve one’s financial situation as it covers the following topics:- • Why is managing money important? • What are the…
Since you have put your thoughts on paper, budgeted and followed our advice and hints, you are definitely satisfied, tranquil and happy. Great news: you have won too because whether…
Although there is no data available with regard to Malta, research overseas shows that elderly financial abuse is a growing trend. Indeed, other than the victim’s age, elderly financial abuse…
As explained in our previous communication, budgeting and spending is sometimes overlooked, especially during the Christmas Season. At the same time, if you have never budgeted your spending, money management…
Keeping a pet incurs costs to care for properly and the financial obligations may not be for everyone. Before you get yourself a pet, ask yourself if you can make…
Most of us are filled with enthusiasm as Christmas approaches, starting as early as beginning of November, only to be dismayed to find that they would have spent a good…
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…
First and foremost, to know more about the difference between self-employed and self-occupied, please click here. Whilst self-occupied employment can bring financial and lifestyle rewards – along with enormous personal…
Starting your first job is one of life’s most exciting times. While you are enjoying the freedom of financial independence, it is crucial to develop good money management skills to…
Apart from the fact that children grow at a rapid pace, children are maturing more rapidly than than ever before. As a parent you may be at a loss regarding…
Entering and being in relationships brings new opportunities to build wealth that you would not be able to do so on our own. When you move in together with your…
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…