Jan 11, 2013

Posted in Financial Truth | 0 Comments

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The Real truth about finance

This is a guest Post by: Maria Benson

Finance deals with your plans for making money – the pay out and how you invest your money. If you spend your money as expenses come up, without outlining a plan, that may often result in shortage of cash before your paycheque Thus understanding certain facts about finances is very important to accomplish financial goals and to secure yourself from any kind of unexpected financial emergencies. The following are some facts about finances and money in this real world.

Financial goals: Most people think setting long-term and short-term financial goals is not difficult but the bothersome job here is, creating the perfect plan to accomplish goals. This is where most people fail to do. Therefore in order to reach your goals you need to know certain real facts about goals.

  • Financial goals can be of two types– Achievable and Non-achievable.
  • Setting realistic goals can be a part of achievable goals
  • While Non-achievable goals often result in disappointment.
  • It doesn’t mean that non-achievable goals are always impossible to achieve, making a few realistic changes in the plan can help these goals see the light of day.
  • Depending on the status of your financial goals, you must set either long-term or short-term goals.

Money: Income and your monthly expenses is what personal finances mostly deals with. People who spend without a plan often live from paycheque to paycheque. There can be several financial consequences if you fail to make enough money that pays your expenses, this can result in losing your vehicle, home and could hurt your credit by throwing into debts.

Plan: Planning finances involve budgeting and saving. You must divide your expenses within your pay and should try to save money as much as you can. Creating budget plan includes tracking expenses, increasing income, trimming unnecessary expenses and managing financial responsibilities to achieve goals.

Insurances: There are wide ranges of insurance policies which are used to provide security either in one form or another. The main aim of any kind of insurance is to provide social security to you. For example, a payment protection policy is used to protect monthly payments if the borrower has taken this policy along with any credit. Policy holders can consider PPI claims form to get compensation if they are into certain events like sudden job loss, disability and so on.

You can take advantage of the internet to get help with investment ideas. There are many guidance and financial assistance providers online who offer their services with some limits. Consider them. Investing money is the best way to make big bucks. There are many investment opportunities, but be cautious before picking them. Review whether they fit your finances

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