In this Podcast I will be talking about some of the things I learnt as a result of the uncertainty that was created by COVID-19 Follow us on Social Media Instagram: @deep_pockets_finance Facebook Group: Finance Tips for Women by Deep Pockets Finance
Author Archives: Deep Pockets
What is a recession and how can you prepare your finances?
A recession is when there is a widespread decline in economic activity because of loss of income or concerns about the economy. In early 2020, the world started to react to the effects of COVID-19. Due to the way the virus was spreading, it was important to limit human contact. Many businesses stopped trading, peopleContinue reading “What is a recession and how can you prepare your finances?”
COVID- 19: How to prepare your finances for an uncertain future.
In December 2019 a lot of people were probably preparing their goals for 2020, be it travel more, spend more time with family or save more. The events that started to unfold in the beginning of 2020 at first seemed unreal and as the dust settled, one thing was certain life was not going toContinue reading “COVID- 19: How to prepare your finances for an uncertain future.”
(COVID-19): Support currently available for the Self-Employed and Businesses
Running a small business can be tough especially when income is not always guaranteed. COVID-19 has literally brought the whole world to a standstill and this is having massive impact on businesses. As most people are either losing jobs or being asked to take a pay cut, they are going to spend less and this willContinue reading “(COVID-19): Support currently available for the Self-Employed and Businesses”
How to proactively monitor your business cashflows
Starting a business is a good way to generate additional income, follow your passion or monetise a hobby. That said, one fundamental principle of running a business is managing the cash flows as this is the heart-beat of every business. Without proper cash flow management, the business will not be able to meet its obligationsContinue reading “How to proactively monitor your business cashflows”
How to create a simple and effective budget
A budget is a plan for how you intend to use your money. It helps you to monitor your income and expenses. This can be a daunting process, but if done the right way you will definitely reap the rewards. Benefits of budgeting Preparing a budget of how you intend to use your money helpsContinue reading “How to create a simple and effective budget”
2. Why is it important to have multiple sources of income?
In today’s podcast I will be talking about the importance of having multiple sources of income. Points covered are; It gives you control of your time You have more options which means you have flexibility to try out new things You have more freedom with your time It offers you more security The link for the instagram page is @deep_pockets_finance
Life lessons learnt from planning a wedding
When I became engaged to my now husband it was an exciting time. We decided to have our wedding back in Africa. Planning our wedding was the first major project we worked on together and here are a few things we learnt that have stuck to this day. It is Important to know your strengthsContinue reading “Life lessons learnt from planning a wedding”
1. Lesson I learnt when I saved towards my savings goals
It’s important to have clear goals. I like to use SMART to set my goals as it forces me to ask questions about my goals. Please see this blog for more information. SMART Goals blog link Having a budget in place enables you to plan for the future, control your finances and monitor you progress towardsContinue reading “1. Lesson I learnt when I saved towards my savings goals”
How to effectively structure your savings
I used to underestimate the need to put saving structures in place. I have now learnt that it is important to align your savings goals with liquidity time frames (cash needs to be available when needed). When my husband and I initially combined our finances, our main goal was saving for a property so weContinue reading “How to effectively structure your savings”
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