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28 June

A Five Step Plan In Managing Your Personal Finance

Why is it important for us as individuals to be aware of our personal finance? Why should we make an effort to educate ourselves on how to manage our own money? Believe it or not, many of us, are falling prey to it. As the saying goes, “Money is the root of all evil”, or in some cases, the cause of all problems.

Nobody wants that right? This is why it is so important to start gaining control of your life. It’s never too late to learn. Knowing how to manage your finances can bring you wonders, but first, you must have the right attitude if you really want to save yourself from future stress and money related issues.

Don’t where to start? Here are a few easy steps to get you started.

  1. Make a budget plan – Sounds simple I know but a lot of people fail to follow this simple rule. Write down your basic expenses, be honest with yourself and don’t include unnecessary items. This way, you’ll be able to determine if you are actually spending more that you are supposed to. Check your cash flow. You might be surprised if you find out that your expenses are way above your monthly paycheck.
  2. Put away a percentage of your salary – After listing down your expenses, you can now set aside a percentage of your monthly income. The amount will actually depend on your salary vs. expenses. It may be small but make it a habit to save part of your salary. Save it for a rainy day. Believe me, you’re future self will thank you for it.
  3. Downsize – You are probably cringing right now. Think of it this way, every time you buy something, think twice. Do you really need it? If you feel you can live without it, then put the item back down, slowly turn away and head towards the exit. Downsizing may not sound fun but think of all the money you can actually save from not buying unnecessary stuff.
  4. Set a goal – Having a goal is a great way to motivate yourself to save money. Whether it’s as small as saving up for a treat or better yet, mapping out your retirement plan, see to it that you actually have a plan. By writing this down you’ll be able to see the bigger picture clearly. A step by step guide can help you determine how you can actually achieve your goal.
  5. Invest – Now that you have extra money in your pocket, think about growing your money. Do some research on what type of investment will suit you best. You can try stocks, bonds, mutual funds or whatever you are comfortable with. This is the best time to grow your money at hand.

These are simple rules to follow. Easier said than done but definitely worth the try. Don’t let money run your life. By learning how to manage it, you can gain control over your finances. If you feel you want to get more serious about handling your finances then perhaps you can consider seeking professional advice. By following these steps, you are definitely one step closer to financial freedom.

Don’t just work for the money, let the money work for you.…

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23 April

5 Most Common Types Of Business Insurance

If you’re a Canadian business owner, you already know how challenging it can be to juggle all of your different priorities. And it can also be difficult to keep up with all of the legal responsibilities related to your daily operations–this is especially the case when it comes to insurance. Let’s take a moment to discuss five of the most common types of insurance available on the market today.

 

  • Employers Liability

Employers’ Liability is one of the most important types of insurance for your business. This is especially the case if you are not required to have Worker’s Compensation. This policy can help to protect your company from employees who claim to have job-related injuries.

 

  • Employment Practices Liability

These days, corporate lawsuits are very commonplace. Employment Practices Liability Insurance will help to ensure that your organization is well protected from this threat. And it covers some of the most types such as lawsuits involving wrongful termination, workplace harassment, discrimination and much more. I f someone brings a lawsuit against your business this will give a little peace of mind to know that you are equipped with a policy that will work in favor of your company.

 

  • Professional Liability Insurance

Not every business provides products–some offer services instead. If you own a company that specializes in offering advice or special service to your clients, then it’s a good idea to consider getting professional liability insurance. This policy is sometimes referred to as Errors & Omissions Insurance. If you ever offer advice that causes your client to lose money, then this policy ensures that you will not be liable for the advice you provided.

 

  • Cyber Security Insurance

Does your business deal with a lot of confidential information? Well, if you store your customers’ information online, then it’s extremely important hat you have some form of protection in case your system is hacked or there is a security breech. By equipping your business with a Cyber security insurance policy, you can be sure that you are protected from costs that may come from these types of incidents.

 

  • Industry Specific Insurance Policies

Maybe you own a company that is in a very specialized area and you’re not quite sure where to start. CCV Insurance offers several different insurance policies which happen to be tailored specifically industries. You may be interested in hospitality insurance, contractors insurance, HVAC insurance and much more.

 

As you can see, having business insurance Ontario is a huge part of running a successful business. It can help protect you from incidents you expect and even those that you’ve probably never even though of. However, the type of insurance you choose will largely depend on your specific needs. It also depend on what type of business you own and the services you offer. If you do the proper research and familiarize yourself with all of the options available to you, you will be well on your way to a safe and productive operation.…

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