When it comes to cutting things from your budget, it is often the smallest things that make the biggest impact. Think about items that you spend on monthly, that you could do without and always be open to exploring cost effective alternatives to products or services that you already use.
The perennial question of ‘Good Debt versus Bad Debt’ was looked at in the previous article. We concluded that debt should be taken on only when value is enabled in the long run. But optimally I posit that no debt is good, as one is borrowing based on anticipated income before it is actually earned.
As we face the challenges that abound in this ‘day and age’, the need to have a sound financial plan has now been brought to the forefront. With the instances of high prices and unemployment it cannot be business as usual. Governments worldwide are creating plans to find ways to prevent additional fall out.