Creating a budget helps manage money, balance income, savings, and expenses, and achieve financial goals. Key steps include setting financial targets, distinguishing needs from wants, tracking expenses, and regularly reviewing budgets against actual spending.
Category: Finance
Life Insurance
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Life Insurance, What the banks don`t want you to know.
Insurance offers income replacement upon the insured’s death and maintains beneficiaries’ living standards. There are two policy types: term life, cheaper with a fixed term, and whole life, costlier but without expiry. Understanding and selecting the right amount and type of insurance policy is crucial for financial security, with personal needs analysis assisting in determining the necessary coverage.