Michael Welter

Credit card debts can leave you with sleepless nights. This may also hinder from attaining your financial goals. But, it is not saying that credit card usage is a disadvantage. In fact, can be an excellent part of your lifestyle! It allows you to take advantage of free travels/perks. It also gives you purchasing power on things that you want/need to buy. With the proper attitude and planning on your credit card usage, you are likely to be successful in managing your card purchases. Here are few steps in using credit cards without falling into the debt pit: > Stop creating a debt pit – Prior your credit card usage as part of your financial plan, you need to make sure that you are not creating deeper pit of debt. Realize that debt is a symptom of the problem. You need to have your spending under control so that you are not exceeding on your planned budget. If you feel that you are sinking deeper on debt, STOP credit card usage at once! Try to go at least few months wit

We think negatively when we hear the work “budget” – basically, it is just a simple plan to have a better picture of your incoming and outgoing funds. It is a way of steering and taking control of your money. Who should budget? Anyone will benefit from a budget, it is not just i8mited to people who are having financial problems. One will be able to distinguish and realize the difference between feeling in control and being able to plan ahead. If you are spending less than what is coming in, you can use a budget to work out how much you can “save” each payday. We call it “paying yourself first”. If you are spending more than what is coming in, you can use a budget to see where that extra fund is being spent with. And you can also check on where to cut down when it comes to additional expenses. Building your budget In creating your budget, we simply add up how much fund is coming in and out of the household coffer, then work on the difference. The result w

If not sure whether you should save or invest, the answer is probably both. It all depends on goals and your financial situation. This guide will help to plan out your finances for short term savings and long term investment. - Difference between saving and investing : Saving - putting money aside - a lump sum. Usually save for a particular goal, like for a holiday, deposit on               a house, or emergencies that might crop up. Often saving means putting your money into cash products,          like bank and building society deposit accounts. Investing - taking some of your money and with the aim of making it grow, by buying things that                 might      increase in value, like stocks, property or shares in a fund. - Who should save? Everyone who could spare extra money from their expenses should save. Rule of thumb is to have three     months’ essential outgoings in an instant access savings account. This is called an emergency fund.     Importan

Here are great tip that will help you choose the best investment tailor-made for your needs: > Review your needs and goals – It is well worth taking the time to think about what you want from your investments. Your needs and goals and your appetite for risk is a good start, so start by filling in a money fact find. > Consider how long you can invest – Consider time frame as to when your funds are needed.                 - If you’re saving for a solid investment in the next couple of years, consider investing in shares or funds is not feasible. Stick to cash savings accounts like Cash ISAs.                 - If saving for pension/retirement funds, ignore short-term investment and focus on the long-term, it will       tend to provide a better chance of beating inflation and reaching your pension goal. > Make an investment plan - Once you’re clear on your needs and goals, draw up an investment plan – this will help you identify the types of products that sui