This generation, which is becoming the largest economic force, directly faces the challenges of the new millennium economy. How are millennials being prepared? Millennials or Generation Y, as they are also known, is those who became adults or are young adults at the beginning of the new millennium. They have experienced the effects of economic crises such as 2008 or the fall in oil prices have different consumption habits and financial education.
Unlike Generation X, those born after 1965 and until the mid-1980s, and baby boomers, born between 1946 and 1965, millennials are digital natives. For them the management of technology is a natural behavior in their lives, they spend more time on the internet than watching television. Continue reading “What are the Millennials financial challenges?”
Undoubtedly, you have heard of the ‘ant expenditure’ that little by little leaves you without a fortnight. It’s no surprise that 50% of Mexicans spend always sometimes on things that were not planned or out of their budget according to the National Survey of Financial Inclusion 2015, released the year Passed by the National Institute of Statistics and Geography.
Personal finance experts and the National Commission for the Protection and Defense of Financial Services Users agree that this small but recurrent expenditure can exceed 10% of your income, leaving you out. The key is to be aware of this expense quantify it consider it in the fortnightly budget and not exceed it. The fact that it is so small does not make it important says Leticia Armenta a research professor at the Monterrey School of Economics at the campus. Continue reading “How to throw away your money”
Each year the employees are liquidated with layoffs and severance interest the deadline for payment is between January 31 and February 14. We tell you how to calculate the most income you should receive. Colombians have a saving in the layoffs that works for the moment they become unemployed or unemployed. Hence the name that has this salary benefit that all workers with formal employment receive.
However, it has additional purposes. They can be used for housing or improvement be it a remodeling or an extension of your house or apartment. According to the Colombian Association of Pension and Retirement Funds during 2016 Colombians affiliated to severance funds withdrew more than $ 4.5 billion or 15.9% more than in 2015, which were used as funds Unemployment insurance for termination of contract for educational purposes and purchase debt relief or housing improvement. Continue reading “Receive a little more salary than expected”
One of the most frequent queries that we receive in the contact form of financial expert is on what is better if to amortize capital or to save and to invest. The answer is how many of those we left in our advisory work. It depends on the type of mortgage on what year it was built whether or not it is about our usual home and above all depends on the interest rate and the renewal differential on the Euribor.
Is it better to amortize mortgage or invest in a savings plan than we are saving? Although you have to analyze the main characteristics of each mortgage and the financial situation of each owner there are some general rules. The first rule is to take advantage of the tax relief offered by mortgages: We can deduct 15% of the fee we pay annually mortgage, up to a maximum of 9,040. Continue reading “Amortize mortgage or save and invest so you can cancel before”
It gives you the freedom to choose the house that suits you according to your possibilities. Since 1972 it has funded more than 9 million home loans or one of every four households in the country. An institution in which the participating sectors private government and workers is constituted as a tripartite institution and not only is responsible for granting home loans; but also gives you various options for your heritage.
You can buy it either in a housing complex or in the open market with a private individual. If you are the rightful owner want to buy a home that is mortgaged by this same Institute, you can do it with any of the credits that the institute grants. This option is for you if you want to buy a home from the open market and improve it with the same credit. Continue reading “Things You Can Use Your Credit”
When it comes to economic issues, one of the biggest problems in small business is financial planning because they generally do not know how to properly manage their resources and prepare to have an emergency fund in bad times experts say. It happens to many companies, when it starts to go well they forget to plan and lose sight of the risks they may suffer especially in times like this that the economy is so volatile.
The cost of advice for example an independent accountant to business can represent about 10% of the total expenses of the company, which is not much if the results that this decision may represent future is considered. When creating the management strategy for your business, it is important to think about issues like recession. Continue reading “Finance tips for your business”