Dealing with challenges caused by economic downturns requires a particular type of financial planning approach. It is easy to make mistakes in these situations and to react to the pressures caused. This video highlights how to manage your position, the things to think about, how to balance short-term and long-term requirements and is relevant to any economic period, not just 2020/2021. It presents a lesson in great fundamental money management techniques that can help anyone looking for ideas on how to cope, or even thrive, through difficult times.
Even a few years difference as to when you start saving can alter the amount you accumulate at a later point, by a big margin. This is why saving from as early as you can is a powerful concept. The trick is to put savings high on the priority list, possibly at the top. And to do this you should aim to 'pay yourself' rather than others. This video explores these ideas, provides figures to back up the notion and details how to pay yourself first.
Savings create wealth. This has become the lost art of wealth creation, sensible and sustained savings. But how do you go about this, to eke out extra monies every month from your income to put aside? You do how rearrange your income and expenditure balance? and how do you maximise your savings? Plus, what is the Power of Compounding? This video explains all and presents a compelling story as to why saving is important and how best to go about it.
This video quickly explains a compelling concept for any of you who are saving money regularly or investing. Pound Cost Averaging describes how you can set up your savings/investing so that you reduce risks posed by poor timing. More than this, it can be used to increase the exposure you have to higher return areas, due to the risk reduction mechanism. The video outlines more in clear terms, contributing to your investment knowledge.
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