A Better World With Finances

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

Finance is basically the study of how to spend money. As an end result of which it is used for personal enrichment and to make life better in general. However, it is always necessary to know the sources of finance so that one can plan ahead to attain financial independence.

In today’s society where almost all have a job that brings them near to the main stream, finance has become a very important element in determining whether you will be part of the social classes or not. People living in rural areas are not allowed to own their own land or a house; instead they use their salaries for the sustenance of the family and use the rest of the income to make ends meet.

While this is fine in the countryside but it does not have any practical application in the city where there are various ways of earning. You can use your salary in various ways, like housing the kids or paying the bills. A family living on less than two thousand dollars per month cannot afford to pay its monthly bills.

In major cities like London, Mumbai, New York and Delhi, we find people living on less than ten thousand dollars per month. This may sound big, but it means you need more than twenty thousand pounds per month just to meet the expenses. If you want to become a millionaire, it is impossible.

It is not only the banking industry that has gone down as a result of the financial crisis but the companies that take care of the transaction and credit card debt also suffered. Though this may seem to be unfair, it has its own advantages as you can get huge interest rates and your payments can be done through secured loans.

The instant credit card just adds to the problems that financial companies face. So if you are a good risk-taker and have savings then get yourself a secured loan, the interest rate will be lowered and you can easily afford to pay it off. If you are a person who uses credit cards a lot, take out some equity from your home to finance your purchases.

Such credit cards can be purchased at low rates of interest and you can also repay them without doing any loan repayment. You need to be very careful about your credit card bill, it needs to be paid every month in full and the bill is usually sent monthly through cheque. If you have a strong credit history you can also go in for a mortgage.

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Pandemic investing: ‘Using my part-time pay to invest in stocks’on July 4, 2021 at 6:08 am

Interest in investing and trading grew during the Covid pandemic, but experts warn of the risks.image copyrightRichard Jones Richard Jones, 18, has spent much...

Viewpoint: Why Germany’s Namibia genocide apology is not enoughon June 1, 2021 at 12:19 am

Germany is sorry for the massacres but the lack of reparations has angered targeted communities.image copyrightNational Archive of NamibiaGermany's long-awaited apology for last century's...

South Africa eases wine export restrictions caused by coronavirus lockdown

CAPE TOWN, April 7 (Reuters) - South Africa's wine industry will be allowed to export its products again after the government bowed to heavy lobbying and agreed...

Coronavirus: Texas moves to lift mask mandate and ease Covid ruleson March 2, 2021 at 11:46 pm

Texas's mask mandate will be lifted and businesses allowed to reopen fully, Governor Abbott says.Texas's mask mandate will be lifted and businesses allowed to...

Liz Truss: Who is the next prime minister married to?on September 5, 2022 at 4:17 pm

An accountant with an interest in politics but not ice skating is set to be the next prime ministerial spouse.An accountant with an interest...
Home of Science
Follow me