In today’s tough economic climate maintaining an emergency fund that will protect you against accidents and minor financial emergencies is essential. An emergency fund must be easily accessible, and highly-liquid. Emergency funds should not consist of volatile investments, like stocks, but should simply be money set aside in either your normal savings/checking account, or a separate savings account. Continue reading
Standard of living denotes the living costs that are indicating the costs associated with living in a city, town or region. Countries that are developed have high costs of living affecting standards while those with underdeveloped status have lower costs of living.
Australia since past many years has seen or observed a lower cost of living than other major countries. Cities such as Melbourne, Adelaide and Sydney feature high living costs than other major cities like New York in USA. According to polls and research conducted online the results show six major cities of Australia are the highest in their living costs as yet. Continue reading
Personal savings in homeland Australia are increasing ever more and at a faster speed than before. Usual trend these days has observed people voting to opt out of spending in the near term while keeping savings to induce more benefits in personal planning later on. These trends have been reported by ING Direct where people in Australia are moving towards curtailment of spending in favour of larger personal savings. This research has suggested that the reasons for savings growth are borne out of fear and apprehension after the recent economic crisis that affected US and European countries. Continue reading
The causes of financial stress are evident everywhere. Foreclosure of mortgages, people losing their jobs in almost every sector, retirement portfolios dwindling, and creditors refusing to lend money to an ever-increasing list of clientèle .. the list goes on. While the causes of financial stress are being addressed in whatever manner the government and private organizations are choosing to address them – the symptoms of financial stress are mostly being ignored. Continue reading
Credit limit can be quite a dilemma at times. Both, having too much credit and not having enough credit limits can be equally troublesome. Credit limit is the credit amount in which a financial institution such as a bank or private creditor extends to a customer. A credit limit on a credit card is the maximum amount the card company is willing to allow the card holder to spend on that specific card or cards linked to a single account. Continue reading
Late payments lead to bigger debts and worse credit histories that lead to very bad credit scores. Needless to say that bad credit scores lead to the possibility of the related individual not being able to secure future loans. The point being driven home here is that you should keep up with repayments of credit cards, loans and mortgages to avoid getting into a debt trap and also save yourself a whole load of cash in the process. Continue reading
If you are experiencing a major burden when it comes to your debts, you will surely consider filing for bankruptcy as the ideal option you have in order to get out of debt. But in reality, you should not consider bankruptcy as your initial choice, but the last option. If you are wondering if you can avoid bankruptcy with the utilization of debt management strategies as well as get into the right financial track.
It’s never been easier to get yourself into debt. Consumer debts have been at all times high and with the current credit crunch, you can agree that things are getting even worse. It’s fine to have a bit of debt, but once it’s unmanageable, it can cause serious stress and give a negative impact on every aspect of your life, including your health. If you are wondering if there is a way to live a secure and happy lifestyle without involving yourself with debts, the answer is that it’s possible. However, getting a financial institution to help you live a debt free life is essential. Continue reading
It is imperative for everyone to have a clean credit history. This is true because one never knows when the need for a loan may arise. This need may stem from the fact that you need to buy a house, refinance your existing mortgage, apply for a credit card or get a money loan to meet some emergency financial need. Continue reading
That the cost of living is increasing at an alarming rate is no secret. In the past it used to be every few months that prices were revised, today they seem to be revised every week! The dollar is good for lesser of everything these days, making the barter system seem like a very feasible option for many people. How does one deal with the increasing cost of living when incomes and interest rates remain unchanged, or worse, decrease? Continue reading