In this post-crash era, effective money management has become an issue of the utmost importance. As participants in the economy, we are all encouraged to plan for the future by budgeting correctly, saving money efficiently, and investing intelligently.
To begin with, it is important to develop an effective savings strategy. We all need a financial parachute every so often, and the best way to ensure that you have one is simply to put money away every month.
Once you have established a basic savings fund, you can begin to explore possible goals for that money. Experts suggest we should have access to money in the case of emergencies, and that we should also plan for financial security in the long term – we want, for example, to be able to afford respite care for the elderly click here should we need it. (more...)