Category: Wage and Salary

5 Financial Planning Tips from the Experts

Financial planning can be a bit of a headache. We all have the best intentions and great plans for saving. Most of the time, however, it doesn’t work. Every year we start with resolutions and good intentions and every year we walk out with less money and more stress. We spoke to some of the financial planning experts to help us take on this year and its financial aspects more effectively.

Maximize retirement savings

Your retirement savings is very important for future wellbeing. The best way to maximize these savings is to have it run on autopilot. Set it up so that the money is withdrawn every month. The next thing to do is forget about that money – you don’t have it until you’re retired.

Get your estate in order

Another important thing to do is take care of your estate planning. Make sure that your plan is well-structured and will cover the necessary funds to keep your family afloat.

Make investments for the long term

Investments can only be successful when it is approached as a marathon and not a sprint. Have a long-term plan and stick to it.

Manage debt to avoid future debt

If you don’t plan to get rid of your existing debt, you will never get out of it and just continue to sink deeper into it. Pay off your biggest debt first and cut back in areas where you are overspending or not spending smartly.

Discuss financial goals with your partner

It often happens that couples keep financial secrets from one another. This is not good for the relationship. Shared goals are also more easily achieved than opposing ones. Discuss your goals and needs with each other and plan together.

Use these tips to do your financial planning and end this year better than you did last year. It is always important to plan for the future and learn to use your money better and make it last longer.

10 Fascinating Facts About Different Countries and the World Economy

Different countries have different economic environments. Some drink more than others, some smoke more than others, some live shorter than others, etc. Many factors influence a country’s economics and we have some interesting facts to share. You will laugh out loud and go ‘what?!’ a few times.

Greece has all the smokers. Smokers in Greece are considered the biggest smokers in the world. They smoke on average 8.1 cigarettes a day.

More married men are unemployed. The unemployment rate for married men is 4.9 and for other men, it is 8.4%. Interesting…

Venezuela is the beer nation of the world. The average amount of beer consumed annually per person is 83 liters or 146 pints.

The fossil-fuel industry is massive. Global governments spent $409 billion on subsidies for this industry in 2010. This is quite a number and is almost double the annual GDP of Ireland.

Guadeloupe is the champagne nation of the world. Each person consumes an average of 4.25 bottles of champagne every year.

The Cayman Islands have the most people working. 67.7% of the residents of the Cayman Islands are employed. This gives them the number one spot for employment in the world. To give you a clearer picture, the UK is 30th on the list with 51.1%.

Britain and the United States have the best universities. All 15 of the top universities in the world are in Britain or America. From Britain, we have Cambridge, University College London, Imperial College London, and Oxford University. The rest of the 15 are in America.

China produces the most gold. They produce 270 tons of gold annually. South Africa mines 156.5 tons of platinum every year. Peru is the silver giant and produces 3 494 tons of it annually.

Canadians like their computers. Canada is the country with the most computer owners. There are 94.3 machines for every 100 people.

The United States has the biggest economy. The annual GDP is $13 751 billion. Japan comes in second with a GDP of $4 384 billion.

Every country has their thing and many countries contribute to the world’s economy. For more interesting facts, come again next week.