Posts Tagged ‘finances’

Set Up New Financial Plans After A Divorce !!

Set Up A New Financial Plans After A Divorce

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You need to do long term financial planning when you are going through a divorce.

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It’s important that you recover from the split by assessing your situation as singles and setting up new financial plans with a focus on longevity.

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Here are five simple steps for building your financial future after a divorce:

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1. Start with a plan.

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Take a look at your finances before the divorce and then subtract what you’ve lost to give you a good perspective on your fiscal situation.

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Be realistic with yourself and set a budget that you can easily manage with your new single status.

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2. Check your credit.

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Maintaining your credit is an important step in walking away from a divorce financially intact.

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Examine your credit reports and ensure that any name changes or card closures are accurate and taken care of.

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3. Ensure your retirement.

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Confirm that all of your retirement arrangements are intact and that any assets or funds you are entitled to have been taken care of.

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Division of savings and accounts should be paramount in your review.

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4. Obtain the necessary insurance.

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Examine your insurance policies and make sure that you and your property are still covered.

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5. Review your taxes.

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Understanding the tax ramifications of your divorce is a key part of planning for your financial future.

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Confirm that all tax responsibilities between you and your spouse are coordinated appropriately.

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IMF Sells 200 Tonnes of Gold to RBI

Gold-surges-alltime-high

IMF Sells 200 Tonnes of Gold to RBI

The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India (RBI) for $6.7 billion in order to shore up the Fund’s finances to enable it to boost the concessional lending to the world’s poorest countries.

This sale of gold to India represents almost half of 403.3 tonnes of total sales volume, which was approved by the IMF Executive Board September 18.

IMF said that the transaction involved daily sales, which were phased over a period of two-week during October 19-30.

The price at which the each daily sale was conducted was set on the basis of market prices prevailing that day, it said.

This deal will increase India’s gold holdings to the tenth largest among the Central banks.

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“I strongly welcome this transaction with the Reserve Bank of India,” Managing Director Dominique Strauss-Kahn stated.

“This transaction is an important step toward achieving the objectives of the IMF”s limited gold sales programme, which are to help put the Fund”s finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries.”

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The IMF, which currently holds 3,217 tonnes of gold, is the third-largest official holder of the precious metal after the US and Germany.


The IMF has made gold sales a key element of its new income model aimed at lowering its dependence on lending revenue to cover expenses.


Under the Fund’s Articles of Agreement, all gold sales must be conducted at prices based on market prices, including direct sales to official holders as in the case of this transaction with India, the IMF said.


The Group of 20 key developed and developing countries, at their April summit in London, agreed the gold sales should allow the IMF to offer favourable conditions on loans to the poorest countries.


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income model