Engineering firm sees growth in output

Similar to the good news that a specific company is experiencing growth, is the concern for personal finances and growth.

08:13 04 June 2013

A Scottish engineering firm was pleased to see an increase in growth for their company, and what it portends. Like so many of us, we desire to see that similar growth; whether it’s in our own small businesses or just our personal finances.

 

There are a number of things we can do to try and improve our personal finances as well as business finances. 

 

• Monthly expenses-this is one of the most time consuming parts of maintaining improvements and positive results in personal finances. While it can be difficult to keep track of monthly expenses if you have many bills, it’s even more difficult to remember those odd bills which could come quarterly, semi-annually, or annually. Don’t forget to budget in the appropriate monthly amounts for those as well. 

 

• Income-when trying to establish growth in your personal finances it’s important to see how your income can best be used. You might be able to automatically have some money generated into a savings account, or perhaps paying a loan automatically would get you a reduced interest rate, or lower monthly payment. 

 

• Investments-this category are extremely broad and can cover a number of different things. If you’re completely new to any form of investing, you may want to take the time to sit down with an Independent Financial Advisor who could explain the different options and help you determine which ones would work best for your personal finances and goals. 

 

• Diligence-checking interest rates, bills, statements, and other documents helps ensure that you won’t be taken advantage of, and that you catch any mistakes immediately before they escalate into financially damaging situations. 

 

• Future-experiencing growth in your personal finances won’t just be something you strive for over the next few months, but rather with a long-term goal to ensure that you’ll be able to purchase a home, go to university, send children or grandchildren to university, or pursue a dream. Planning for your financial future is essential and will also help you be cognisant of current growth rates.