Quick Tips on How You Can Save as a Couple

Money woes are a common cause of divorce or disconnection among couples. It is quite hard to stay in love when the basic needs of the whole family are not met due to poor financial management. Don't fret if you feel like your marriage is about to fail because of the latter. There's still hope to saving your marriage and your financial breakdown. Follow these tips.

Strengthen your connection by doing some money talk. Financial or money talks are done right before couples tie the knot - ideally. But most couple put these aside because they're so much in love and they perceive that love can keep them alive. If you haven't done any money talks, it's not yet too late to start today. Sit down together. Talk about your debts (if there's any) and plan how you can get rid of them together. Even though you've been married for some time now, you will still have individual styles in budgeting and saving. Talk it all out and agree on a definite financial plan.

Reassess and realign your financial goals. As you both work through the years, pay increases will happen. You might be able to get out of debt faster than you thought. Check your financial goals and reevaluate your strategies in saving. Can you afford to increase the amount of money you wish to save? Do you have enough money to cover emergency situations? Keep in mind that your finances as a couple is a work in progress. That means there will always be rooms for improvement.

Give financial autonomy a try. To some couples, keeping their money all in a joint account doesn't work. If you experience the same, don't force yourselves to it. Keep an individual savings account and see if you can agree to have a joint bank out where you must deposit a part of your individual income.

Drawdown Dangers – What It Means To Traders

Drawdown is a word that is feared and hated by every trader, but it is an inevitable part of playing the markets. It is simply how much your account loses from its peak. Suppose you start with $10,000 in your account, and after a succession of losses the account goes down to $7000. That means you have lost $3000, or 30% of the original starting $10,000, and therefore your drawdown is 30%. Drawdown is relative to where your account peaks, so say you had a good run and built the account up to $12,000, then lost $3000 again, bringing it down to $9000. Your drawdown this time would be $3000 from $12,000, or 25%. Maximum drawdown corresponds to the lowest your account ever hits. Sometimes you will see trading strategies detailing how much maximum drawdown is expected to be when using them – usually the more risky strategies will anticipate a greater drawdown while expecting a higher profit on average. Drawdown is particularly dangerous because, the way statistics work, you ...

How to Secure the Future of Your Child with Special Needs

If you have a child who is differently abled, you will agree that leaving your child with no financial support in the future is very daunting. Believe it or not, you can prevent this from happening by securing a special needs fund for your child as early as now. Because a child with special needs may be disqualified for public benefits, the aim of this type of trust fund is to give a convenient lifestyle to them without limiting their access to all available benefits. Generally, the creation of this fund is structured to supplement any assistance the government may provide concerned children in terms of clothing, food and shelter. The four important components of this trust fund are the asset, the beneficiary, the trustee and the purpose. The asset is the special needs resources that will be placed in a trust. The beneficiary is the concerned child while the trustee is someone who will be in charge of the disbursement of the funds. Meanwhile, the purpose serves as th...

All You need to Know About Borrowing Money from Family

Borrowing money from family and friends can be a perfect solution, but be sure to look at the pros and cons of this approach. Before you join the bandwagon, review first this short list of its advantages and disadvantages. The Pros Flexible Terms: Unlike other forms of traditional finance, funding from family and friends is typically offered on flexible terms. Friends and family may agree to a longer repayment period and may seek a lower rate of return than traditional lenders. On a practical level, little or no security is required and the repayment can be tailored to your financial projections. Minimal charges: One of the greatest advantages of borrowing money from friends and family is that the funds are offered at little or no interest. As a start-up or loss-making company, the interest rate charged by traditional lenders can be very high. Easy to set-up: On a personal level, the family member or friend already knows your ethos and business circumstance and so are less likely...

Saving One Income