It is paramount that every adult familiarizes himself or herself with the following knowledge in finance.
- Advantages of a budget
Budgets are quite relevant to both business and personal life. Having a budget ensures one has enough for the things they require. When income and expenses are balanced, debts are avoided.
- Understand why you get paid less than you earn
Pay slips indicate the gross salary and what taxes are deducted. People ought to known what deductions are made from their salaries. Some of the deductions made include Federal government income tax, health insurance, social security contributions, and 401K.
- The compound interest policy
Saving money at an early age guarantees you a comfortable retirement since the money saved accrues interest, which is then added to the saved money. The compounding policy ensures you have enough when you retire.
- Strive to have good credit
Unlike student loans, a mortgage cannot be issued without excellent credit scores. Therefore, it is important to maintain a good credit score at all times through activities such as paying rent on time. If you have limited or damaged credit scores, taking out a starter loan may help you build your scores.
- Always go for good deals
There is a huge difference between a low price and a good deal. Low price means cheap and, hence, poor quality. Always negotiate for better deals on things like insurance policies because you can get them.
A look at Reifler’s business endeavors
Brad Reifler is a Bowdoin College graduate and is currently the chief executive officer of Forefront Capital Management. He began his career in 1982 where he established Reifler Trading Corporation, a company that he managed until 2000. In 1995, he established Pali Capital, Inc. and held the position of managing director. He grew the company to a multi-million dollar enterprise that, in turn, hired more employees and expanded business to other countries.
Reifler also manages other companies such as ROOT Exchange Inc., ITG Market Research Inc., and Symmetry Property Development, LLC. Brad Reifler has also sat on the board of directors of company’s such as Genesis Securities, Foresight Research Solutions, and European American Investment Bank. Until March 2016, Reifler worked as the Director of Wins Finance Holdings.