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Planning finances in the era of financial crisis - part 2

PLANNING FINANCES IN THE ERA OF EMPLOYMENT CRISIS -PART 2   Here we are again, to guide you to sail through your professional life.   On one hand, while the uncertain demands for the skills have made virtually all jobs temporary, the modern consumer society has created a culture of spending beyond income levels, which adversely affects saving money. Good financial planning can act as a shock absorber in such situations. Most of us do have similar hopes and ambitions and most of them cost money.   Financial planning –in the era of increasing job insecurity.   With the increased instability of the tenures of job and decline of joint family and increased non – agrarian nuclear families, the scope to get support from families in hard times has reduced. This enhances the need for financial literacy and financial planning amongst the youth. Financial planning is an on-going process. It’s important you take the time to design a financial plan that works for you...
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Planning finances in the era of financial crisis -part 1

  PLANNING FINANCES IN THE ERA OF EMPLOYMENT CRISIS – PART 1 Financial Planning and You: Taking steps towards better economic security. In times where security from a lifetime employment is on a decline and having a well formulated career path is difficult due to increasing contractual employment in cities, there is an increasing need to manage your funds for self-sustenance. If you have undergone any of these phases of life, here is an antidote for you on how to manage your funds. Have a plan, be rich . Having a plan in place beforehand and sticking to it as closely as possible can help to ensure that you survive the transition with the least stress possible. Money is important, not only because of its utility, but also emotionally. Living a happy, healthy and successful life is achievable only if personal finance is managed adequately. What should students know about financial planning? One of the first and most important steps for successfully managing money as a s...
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