If you’re at that stage in your life when you really need to start calling the shots for the future, it can be a very confusing, even scary, process. Most people simply lack the expertise to make informed decisions. They know little about investment strategies, nothing about share trading, and usually less about basics like superannuation and managed investments. Before you do anything at all, you need to get your facts straight. Now is the time to get started on improving your knowledge base and checking out the possibilities.
Financial issues, and why you need to plan ahead
There are several fundamental issues in anyone’s financial life:
- Savings: Savings are your core cash supply. Savings cover things like the deposit for a home, cash when you need it, having a life, and handling the occasional financial lightning strike. Savings and good saving practices are also the basis of good financial planning.
- Credit: Credit is a useful tool, but it’s also a potential risk factor. Credit has to be managed well, and kept under firm control so outgoings don’t interfere with savings and financial independence.
If you are buying a car with modifications, or you are making modifications to your car, you should inform your insurer. Get as many car insurance quotes as possible as you compare car insurance. Some modifications could void your insurance, and others will increase your premium. The only way to be sure is to check with your insurer or potential insurer.
All of us enjoy owning a car, and men, in particular, love to modify their cars. When you modify your car, you should check with your car insurance company to make sure your car insurance is valid. Some modification may mean your car is no longer insured. Other car modifications may be deemed dangerous and added to the cause of your accident. This could result in your claim not being paid. Always check the details of your policy and talk with your insurer directly about this issue. Insurance is calculated on risk, normally in the considerations of two main issues. The first, will it get stolen, and secondly, the likelihood of collision. Your car modifications will increase both of those chances. Here is a look at some examples to get you thinking.