Purchasing power refers to the amount of goods or services that can be paid for with one unit of currency. It reflects the capability of consumers to buy those goods and services with a certain amount of currency. Purchasing power increases directly with the amount of goods and services that can...
Having a baby can very be the biggest change that a couple can experience. It does come with a lot of immeasurable joys and pleasures, but it also comes with a lot of responsibility and expenses. From the get go, getting pregnant will cost the couple - doctor’s fees, medical tests, and supplements...
Creating a budget - whether for personal purposes or otherwise - can be a fairly simple process. However, not everyone is comfortable with this process. More so, following the budget and monitoring it is a different story altogether. One can lay out a budget easily using a pen and paper, but it...
Legal tender refers to the money that is issued by the government and that is accepted as the main means of payment. The term legal tender is usually applied to the bills and coins that the government makes. The government lays down the rules and regulations that apply to use creation, distribution,...
Financial planning is the activity of setting monetary goals and coming up with specific ways to achieve them. Financial planning involves various processes and requires the active participation of the individual wanting to achieve certain goals. The activity of financial planning may be done...
In this credit-driven society, taking out a loan may seem easy. The fact is that this ease is made possible by the existence of a loan product for practically every kind of customer. The general idea is that those with a good credit record and good credit score can easily get a loan approved....
A profit model is a framework that a business follows with the aim of making money out of its endeavors. In order for a business to actually make a profit and succeed, it needs to have a clear profit model right from the beginning. A profit model will include certain elements that will help ensure...
A top hat plan is a type of retirement plan, although it differs from the usual retirement plan in that a top hat plan is not offered to everybody in the company. A top hat plan is only offered to a select group of people in the company - usually to executives above a certain level. Sometimes,...
An honorarium is a form of payment that is given even when there is no formal or legal need to provide compensation. It is a payment given ex gratia. In general, a payment is considered an honorarium if the service provided could have been given for free, or was voluntarily given. In some...
A credit card cash advance is a means to obtain cash straight from your credit card, without having to apply for a loan at the bank. In order to get a cash advance using your credit card, you simply have to go to an ATM and use the credit card as you would a normal ATM card. You will be prompted...
