SETTING FINANCIAL GOALS
Morataya & Associates can help you plan for your financial goals.
It’s important to set Financial Goals for your future, breakdown your goals by time frame. For example:
- Short-term, within the next year
- Intermediate, two to five years
- Long-term, five years plus
Example of Financial Goals
- Know where your money goes (achievable through budgeting)
- Manage to live on existing money (achievable through budgeting)
- Pay bills on time (achievable through budgeting)
- Pay off your debts
- Allocate funds for emergencies
- Maintain or improve standard of living
- Create a special expense fund:
- children’s education
- birthdays/holiday gifts
- Establish a regular savings program for long term goals:
- buying a home
- buying a car
- investment program
- Increase your net worth
- Save for retirement
Investing means making money available to companies, governments or financial institutions with the expectation of earning a return on it. Investments can generate one or a combination of three types of return: interest, dividends and or capital gains.
Interest is a set or floating amount that an investor is paid on a specific date or set of dates. It's expressed as a percentage of the overall investment. Typically, interest is earned on investments like bonds and term deposits. Compound interest is interest on interest. For example, when a bank pays you interest, that amount is added to the account balance. If you make no withdrawals or deposits until the next interest payment the following month, that payment will be calculated based on the balance that includes the bank's deposit into your account.
Dividends are paid by companies to shareholders. For each share you own, you receive a sum of money. Dividend amounts are determined and paid at the discretion of the company. They are not guaranteed, and companies only pay them when they are earning profits.
A capital gain (or loss) is the difference between what you pay for an investment and what you make when you sell it. If you buy a stock for $10 and sell it for $10.50, you will make a $0.50 capital gain. If you buy a stock for $10 and sell it for $9.50, you will have a $0.50 capital loss.
"Solution to my financial problem"
A friend of mine recommended me to Morataya & Associates to help me find a solution to my financial problem, and I am now so grateful with her since she guided me into good hands. Morataya & Associates helped me so much. I placed all my debts into only one. I recommend you to visit Morataya & Associates today so you can stop worrying over your debts; you will be in good hands.