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The ability to manage money competently is especially valuable quality in the conditions of financial crisis, when the purchasing power of the population is shrinking, inflation is rising, and currency exchange rates are completely unpredictable. Below are the common mistakes related to money affairs along with financial planning advice to help manage your own finances properly.

  • “Golf is the closest game to the game we call life. You get bad breaks from good shots; you get good breaks from bad shots — but you have to play the ball where it lies.” Bobby Jones 

    Although an amateur golfer, Bobby Jones helped design the Augusta National Golf Club and co-founded the Masters Tournament.  His famous quote addresses the parallels of golf and life. Whether you are a golfer or not, you may find several character traits that are required for a life of success are also evident and fine-tuned as one pursues the game of golf.    


  • You may have noticed that there is a different name circulating around town...Compassion Health Care.  It is actually the new umbrella name for Caswell’s own, Caswell Family Medical Center.


  • If you do not have young children, you may not be aware of the Caswell County Partnership for Children, but if you do, it is likely you interact with the group from time to time.  As their mission states: CCPFC unites the community to provide families with resources and services to enable all children to reach their fullest potential. 


  • Meet Pennie Allen (far left) and Stephanie Morrow (second from right). These two sisters grew up here in Caswell County.  They are experienced hairdressers and chose Caswell County to be the home of their new business located in the formerly Today’s Hair salon by the Rio Grande Mexican Restaurant.  ‘We chose Caswell County because it is our home and we feel it is important to give back to our community’, says co-owner Pennie Allen.


  • Here in Caswell County, there is a vibrant art community that is becoming larger and stronger. If you visit the Caswell County Council for the Arts or especially if you stop into the Milton Studio Art Gallery, you will see right away that ART is indeed a business that can make us all smile.

     

    On a beautiful Saturday morning in September, the Chamber and gallery owner, Shirley Cadmus sat down to discuss a few exciting recognitions that this particular Caswell Artist is being recognized for in October.  


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The budget is the most basic thing in financial planning. It is therefore especially important to be careful when compiling the budget. To start you have to draw up your own budget for the next month and only after it you may make a yearly budget.

 

As the basis takes your monthly income, subtract from it such regular expenses as the cost of housing, transportation, and then select 20-30% on savings or mortgage loan payment.


The rest can be spent on living: restaurants, entertainment, etc. If you are afraid of spending too much, limit yourself in weekly expenses by having a certain amount of ready cash.

 

"When people borrow, they think that they should return it as soon as possible," said Sofia Bera, a certified financial planner and founder of Gen Y Planning company. And at its repayment spend all that earn. But it's not quite rationally ".

 

If you don't have money on a rainy day, in case of an emergency (e.g. emergency of car repairs) you have to pay by credit card or get into new debts. Keep on account of at least $1000 in case of unexpected expenses. And gradually increase the "airbag" to an amount equal to your income for up to three-six months.

 

"Usually when people plan to invest, they only think about profit and they don't think that loss's possible", says Harold Evensky, the President of the financial management company Evensky& Katz. He said that sometimes people do not do basic mathematical calculations.

 

For example, forgetting that if in one year they lost 50%, and the following year they received 50% of the profits, they did not return to the starting point, and lost 25% savings. Therefore, think about the consequences. Get ready to any options. And of course, it would be wiser to invest in several different investment objects.