The importance of setting up an emergency fund

If ants can set up their stock of food for the rainy days, why can’t people do the same? We all know that an emergency fund is noteworthy for saving us from future financial troubles. But most people just can’t set up such. How come? It’s because most of us are economically procrastinators. An emergency fund is not necessarily built instantly and magically. For individuals who don’t have the abundance of money, they can simply build the fund gradually – simply starting from a little amount of cash. For people like me, who loves investing and hates burying of money, setting aside cash for an emergency fund seems to be like putting bucks into sleep and not using it to work for profit. But an emergency fund is not just another kind of money putted inside a piggy bank. Emergency funds are investments that can save you from near future financial disasters. Read more

What is debt management? Its basic definitions

People from around the world get into debts. However, not all of them manage to get out from these financial traps that ruin someone’s freedom. If you have creditors, you always want to become a debt-free person so that you can get out from them. Now here comes a heroic program that promises to save you from being tied up by credit chains… it’s called debt management plan. If you are a borrower who seeks financial freedom, you’ve probably heard of it. Many companies offer this program in an objective to get you out from your horrific debts. But before getting into it, let us first understand its meaning and how it can really help us solve our money problems. The following are its basic definitions and descriptions from around the web which may give us the basic idea on how it can help solve our money problems: Read more

The Options for Insolvent Businesses

This is a guest post by Jeffrey Carter, who is a business finance expert in the UK, advising companies in financial difficulty of their options.

In 2009 in the UK alone, 19077 businesses went into company liquidation. This figure was particularly high, largely as a result of the 18 month recession that gripped the global economies.

However, even in ‘normal’ economic circumstances, insolvency amongst businesses is more common than we would like. Contrary to popular misconception, however, company insolvency needn’t mean the end of the business.  There are a number of options available to insolvent companies. Read more

Tata’s Nano: Will you buy and use the world’s cheapest car?

India’s Nano Car was intended to be used as a fuel-efficient, safer alternative to the motorcycles used by millions of Indians. Nano Cars was first conceived by Tata Motors Ltd. (India’s largest automobile company) in 2003. The 3 meter-long car is expected to cost about $1,980 for dealers, which doesn’t include the markup and other charges that will be paid by consumers. At a price of 100,000 rupees or about $2,000, the Nano is the cheapest mass-produced car in the world. The Nano minicar has a maximum speed of only 107 kilometers an hour and puff gasoline mileage of 23.6 kilometers a liter. Read more

Business Bible Verses: Do Not Worry About Your Life (Matthew 6:25-27)

Every one of us has his own worries. Whether we are financially poor or living in wealth and fortune, worries doesn’t seem to leave us. Losing our business, our money, family, job, youth and or fame are some of the many worries that we face in our ordinary days. Worries are emotional and mental reactions in which a person feel and think anxious or concerned about an actual or imagined issue. This may include personal issues such as health, finances, careers and relationships. Broader issues such as environmental pollution, social and technological changes and spiritual revolution also add to people’s worries. Moderate and short-lived worries may cause positive effects on a person by giving him precautions and making him an aware and discrete person (e.g., installing security alarms, buying fire insurance and hiring financial and Information System auditors). But in most cases, occurrence of worries to people becomes destructive rather than preventive or directive. Persistent worries can cause heart attacks, high blood pressure, ulcers, gastrointestinal problems, respiratory problems and hypertension. Remember that a healthy body means a healthy mind and a healthy mind means a healthy body. Read more