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, peopleContinueContinue reading “What is a recession and how can you prepare your finances?”
Tag Archives: Personal Finance
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 toContinueContinue reading “COVID- 19: How to prepare your finances for an uncertain future.”
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 helpsContinueContinue 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 thingsYou have more freedom with your timeIt 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 strengthsContinueContinue reading “Life lessons learnt from planning a wedding”
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 weContinueContinue reading “How to effectively structure your savings”
The convenience of technology
I remember the excitement I felt when I had started my first year at high school in Zimbabwe and the school I went to made an announcement that we could use calculators in our mathematics classes. Gone were the days where we would spend time trying to solve mathematical problems on paper. Fast forward aContinueContinue reading “The convenience of technology”
Ways of getting on the property ladder for the first-time buyers
Saving the deposit for a house can be very difficult and can take a long time to achieve. This is why it is very important to be aware of the different type of schemes that are available to help you with this process. The schemes mainly benefit first time buyers and enable them to raiseContinueContinue reading “Ways of getting on the property ladder for the first-time buyers”
How understanding our financial personalities helped my husband and I save for our house deposit in less than a year
When my husband and I got married we discussed our finances and set our goals. The first thing we wanted to do was to buy a house before starting a family because we were renting a small one-bedroom apartment. Moving to a bigger apartment or house whilst still paying rent was not an option. WeContinueContinue reading “How understanding our financial personalities helped my husband and I save for our house deposit in less than a year”
It’s good to be back!
During the past year, blogging had taken a bit of a back seat due to the many changes that were happening in my life! I returned to work after my first maternity leave during the summer of 2018. It was great going back to work as I had missed my work colleagues, however being aContinueContinue reading “It’s good to be back!”
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