Bankruptcy may happen to anyone. Inefficient money management and sometimes even outside economic conditions may be responsible for personal bankruptcy. Here are certain lesser known facts about bankruptcy that you should be aware of. Even The Rich Get Bankrupt: Though commonly, it’s believed that it’s only the poor who get bankrupt, even the rich might get bankrupt. The recent economical upheaval has brought in a lot of monetary loss for business investors. Many of them have gone bankrupt. The rate of personal bankruptcy this year is seen to be 35 % approximately. Job losses and real estate business slump were seen to be the major reasons for personal bankruptcy in the present times. Also the rate of bankruptcy is expected to rise with the progress in economic recovery. Bankruptcy Penalties [...]

Managing finances is as simple as taking salary, making a list of items you want to buy every month, spending on the articles and saving the balance up in the bank. You might argue that for this you really don’t need the help of software. Well, I do agree with you that essentially it’s that. But do you know that these tools actually help you in refined management of your money. You not only save, but also find out different ways in which you can grow money. Here are some reasons why you’ll agree to use a money management tool if you’ve not been using any till now. Depending On Memory Is Bad I remember, before I came to know about financial tools, every month I got my salary, I’d just take out the money from the ATM machine and keep spending it without recording my expenditure. By [...]

You might be already aware of scores of ways in which you should budget your spending. You might have gone to financial experts visited money management websites or taken courses on financial literacy etc. But did anybody give you a step by step direction on what you should do and what you shouldn’t to manage your money efficiently? Most often, unless you personally took the trouble for acquiring in-depth knowledge, you are given broad and generalized outlines. These don’t necessarily relate to your unique life situation. Moreover, you are not very precise about your plans. This is the reason for many of us there is a slip between the sip and the cup. Here’s some advice with a difference. You are not asked to do this and do that for controlling your expenses. More than the implementation [...]