From this example you can see that creating your own financial plan isn’t all that difficult. Once you have a clear picture of what questions to ask yourself, the rest is straightforward. Go through the exercise and download thisretirement calculator spreadsheet. Make your own rough projections ...
Here’s how an interest-free instalment programme works, using Standard Chartered Bank’sEasyPay* as an example: Because EasyPay converts local or overseas transactions on your Standard Chartered Credit Card into interest-free instalments, by just sticking with the repayment plan vigilantly, you’ve...
Learnhow to prioritize your savings goalsto gain a clear idea of how to allocate your savings. After your expenses and income, your goals are likely to have the biggest impact on how you allocate your savings. For example, a common budgeting question is whether to pay down debt, save or ...
Thecompany and team sectionof this business plan outline is where you provide an overview of who you are. It should describe the organization of your business, and the key members of the management team. It should also provide any historical background about your business. For example, you’...
RELATED ARTICLE—How To Fill out a Rent Receipt (with Example) Cash Flow Formulas Here are all the formulas you need to know. Calculating Net Cash Flow Net cash flow is a simple but powerful metric that provides a comprehensive picture of your business’s financial health. It takes all cash...
Everyone has expenses they can’t avoid, such as housing, food and transportation. However, if you aren’t keeping an eye on your spending, it’s easy to overspend on nonessential things. For example, you may find that you’re spending hundreds of dollars each month on takeout meals or...
How do you improve money management? You can improve your money management by regularly evaluating what you're doing with money and making changes that make sense for you. For example, if you don't have a budget, you could start by developing one. If you have a budget, you could track...
Having an idea of your monthly payment can help when you’re putting together a budget. You might find that you have enough money left over tomake extra paymentsor even develop a plan to get ahead of your debt.
Example 3: Simple Interest Suppose you want to start a business after college by creating a cool new app. To fund all the costs involved, you borrow $500,000 for three years from a wealthy aunt, paying 5% simple interest. You plan to repay the loan in three years in one...
your goal should be to spread your money among different types of investments. That’s because investments perform differently at different times. For example, bonds may provide good returns if the stock market is on a losing streak. Or if Stock A is ...