iEphraim

In a few days we will be 2023.  Planning for the new year involves setting goals and creating a roadmap for achieving them. This includes setting personal and professional goals, budgeting, seeking support, and prioritizing self-care. Setting goals, reflecting, and making a plan can help you set yourself up for success and make the most of the year ahead.  Below are some guide to help you prepare:  1. Set goals: Consider what you want to achieve in the new year and make a list of specific, achievable goals. These can be personal goals, such as improving your health or learning a new skill, or professional goals, such as advancing in your career or starting a business.  2. Create a plan: Develop a plan for how you will achieve your goals, including specific actions you will take, resources you will require, and a timeline for achieving them.  3. Reflect on the past year: Take some time to reflect on the past year and think about what worked well and what could ...

A typical household in the UK spends just over £2,500 per month, according to a report by the Bank of England. However, our spending habits change in the weeks leading up to Christmas. We spend almost £740 more in December, 29% more than in a typical month. Other countries are likely to observe similar or greater spending patterns.  It is likely that you will spend more than expected during the holiday season if you do not have a budget in place. In this season, there are two primary money temptations, the temptation to spend money that you do not have and the temptation to spend money on items that you do not need. Below are five tips for avoiding these temptations this December.  1. You should ask yourself if you really require the items you plan to purchase. Do not purchase on impulse. You might want to wait until the next day before making a final decision to purchase.  2. Consider getting a second opinion. If your passion is getting the better of you, a second opi...

All of these topics are discussed in detail in my book, Understanding Investment for Beginners, which is available on Amazon. 1. Invest only in what you understand Consider investing only in what you understand. Do you truly understand crypto currencies and NFTs? Or are you investing because you do not want to miss out on the opportunity? 2. Invest in good times and not so good times A good investment strategy is to invest during good times and not so good times. By only investing in good times, you may miss out on opportunities to invest at low prices. This strategy is known as "dollar cost averaging". You can Google it. 3. Invest what you can afford to lose There is no way of knowing what will happen in the next couple of minutes. Stock markets fluctuate, and there is no way to predict what will happen in the future. Share prices are at best speculations. Invest what you can afford to lose just in case you lose, you won't lose your mind. NB: This is not financial advice...

Family's finances can become complicated when one member of the family is out of work. One of the parties is then responsible for caring for the rest of the family. There are three scenarios that can cause this to occur. The first aspect is the general unemployment state. This is the easiest part of the process because at least there is still the possibility that they will find employment regardless of how long it takes. Second, it is a result of long-term illness or permanent disability. Even though there is still a possibility that they may return to work, these are definitely trying times for the party left behind to care for the other party. Finally, if the other party passes away, this is the final scenario. In all of the above situations, it is essential for couples, whether they are already married or intending to marry, to prepare in advance, just in case anything happens to them. Fortunately, all of these risks can be insured. Do not wait for something bad to happen before...