Effective management of personal finance

Effective management of personal finance

Personal finance relates to all aspects of managing personal and family finances that ensure better control of funds to meet current and future personal and family needs. The aspects of managing finance include planning, raising, saving, spending, investing and securing income. You should, therefore, have a plan or guide to help in managing the above […]

How to enhance your saving culture

Some people have high monthly consumption or expenditure levels which cannot be supported by their regular income streams. The people whose regular income  falls short of the regular expenditure are said to be living beyond their income. When you live beyond your regular income, you are bound to borrow from financial institutions or friends in order to […]

Why should the business be financed with loan capital?

It is acceptable business practice to finance your business with loan capital provided you can prepare a bankable business case. The financial institutions tend to lend to businesses with bankable business ideas or projects. You should however be 100% prepared with all the details of your project before you approach a financial institution for loan […]

The Capital employed in the business is not free

  Capital is the total of the financial resources in cash or kind available for use in business by the organisations. The capital is used to acquire fixed assets, and to provide for working capital.  Capital either in cash or in-kind is necessary in starting any business venture.  Capital is necessary to acquire equipment, engage […]

You can earn extra income from your excess cash

It is normal for all business organisations to experience seasonal variation in their volume of business which result in either positive or negative impact on the available cash   resources at any given time.  There is a tendency among some organisations to rush to the bank for an overdraft when the organisation start showing signs of […]

Idle Cash

Companies experience seasonal variation in their business activities which impacts on cash resource of the company. The cash is  optimally  used when business is in peak season and when the business is low ,  the cash resources are  held on the bank account and business safes. Idle cash is therefore the  cash in excess of […]

You must have a bankable project in order to access funding

In business venture you reach a phase when you must have some money to acquire certain resources. For example if you are putting up a factory you need money to buy land or  to pay professional advisors and  contractors  or money  to buy raw and equipment to put in the factory. You can access money […]

Lacking capital is flimsy excuse for not succeeding in life

Capital is the money or other assets you can use to start a business.  The money can come from various sources including personal savings, inheritance, family and borrowing. You can borrow from friends, family, savings and credit societies and banks. Many people who have succeeded in life did not have much capital in money to […]