What should you do with your emergency fund? Is it possible to get a return on the money you put aside for unexpected events? This question is becoming increasingly common in the face of rising inflation.
An economy goes into recession when its Gross Domestic Product (GDP) contracts for two consecutive quarters. This is the technical definition of a recession, something that already happened in the United States as well as in the eurozone in the first quarter of this year.
Saving and managing your finances is a lot like dieting or exercising. You always start off strongly and with enthusiasm. However, as time goes by, bumps in the road and unexpected events come along, then excuses, and finally you give up and go back to your previous routines.
Whether it is good debt or bad debt, mortgage or credit card debt, with debt there always comes a time when it hurts and the question arises: how can I get rid of it? Should I sell my investments to pay off the debt?
Fixed income is back in fashion with Treasury Bills taking a starring role. The demand for these has been so high that it has forced the Bank of Spain to change the contracting system to avoid queues.
Can you imagine a life without having to work? Living on an income or retiring young is the dream of many people and the best way to achieve it is through passive income.
Each household spends an average of 5,050 euros a year on food and non-alcoholic beverages, according to the data from the Spanish National Institute of Statistics (INE). Of this total household budget, 16% is spent on shopping and covering these basic needs.
The best way to save on taxes is to plan your actions from one year to the next, and not just wait until you have to fill in your income tax return. With an inheritance it is exactly the same.
When it comes to money, there are times when you can’t see the forest for the trees and vice versa. That’s precisely what happens with ant expenses, those small day-to-day expenses that you don’t normally take into account but that, once added up, can total up to a considerable amount.
Surely when we hear the word “wellness” it is not something we would ever associate with the economy or our personal finances. We naturally tend to associate it with a good physical or mental state, but can wellness and finances be related? Well, yes. And this happens through this new concept of financial wellness.
If you’re asking yourself this question, you’ve already taken a big step, and you’ve set yourself the goal of saving for your dreams.
What do young people think about saving? How capable and willing are they to plan their financial future? As revealed in the latest survey conducted by the BBVA Pensions Institute, more than half (54%) of millennials (those born between 1980-2000) managed to save during the months of lockdown, and around 40% continued to maintain this habit afterwards. This saving is coupled with the fact that almost half of Spanish millennials are not confident that they will get a public pension when they retire, according to the same study.
Inflation has caught us by surprise and it seems that it will stay with us longer than expected. What can you do so that rising prices don’t throw your family’s finances into disarray? To begin with, it is important to know what inflation is and how it affects your savings.
Many families reach the end of the month with an empty checking account and see, once again, how those dreams that for a moment had seemed possible to achieve are slipping away: goodbye to this summer’s trip, goodbye to those future plans in which they received a high return on their investments and goodbye, also, to the peace of mind that comes from having a small fund to deal with unforeseen events.
With the price of energy soaring, more and more people are wondering what they can do to save electricity. As in any aspect of life, there are many things you can do, but in the end just a few of them will account for most of the savings.
Inflation is back and looks set to stay with us for a while. The CPI closed 2021 at 6.5% and forecasts suggest it will remain high until at least halfway through the year.
The first step toward financial peace of mind is making sure that you can cope with unexpected expenses without disrupting your overall financial plan. It all starts with your emergency fund: