A borrower goes into default when they miss credit card payments for over 180 days, roughly six months. When there is a failure to pay over such a long period, banks generally take this as a sign that a borrower won't pay the debt anymore, said Matt Sotir, financial advisor with Equitable Advisors based in New Hampshire.
Beyond the general discomfort of talking about death, the topic of inheritance brings in a whole other set of sticky issues. Research finds that parents’ and children’s expectations for bequests are rarely aligned, even among those who have a good relationship, which is why it’s so important to get on the same page with heirs early on.
An effective strategy is to start with a budget. Evaluate your current financial situation and anticipate upcoming expenses, such as holiday gifts, travel, and any year-end obligations like taxes or insurance premiums. Creating a detailed budget now allows you to allocate funds for these expenses gradually, reducing the burden when they arise.
Through informed decision-making and strategic planning, women can unlock the full potential of investments, ensuring a prosperous future for themselves and future generations. Here are four essential tips women must consider while investing outlined by Swati Saxena, Founder and CEO of 4 Thoughts Finance.
In the dynamic landscape of the financial world, the year 2024 is set to usher in changes for Canada, especially concerning interest rates. Standing on the verge of this new era, comprehending the impact of these changes, particularly for individuals facing mortgage renewals, becomes crucial. The interest rate landscape is evolving, demanding vigilance, adaptability, and proactive financial planning.
Year-end financial planning is about taking control of your financial health and shaping a more secure future. By setting clear financial objectives and adhering to a well-structured plan, you can navigate life's financial challenges with confidence and achieve financial well-being.
