Personal Finance and Investing Basics and Security
The foundations of the basics of personal finance are security stability and growth and protection as well as management. Investment growth begins
with security. The subject of personal finance is very broad, but as a beginning, I would like to discuss what I consider the foundations of personal
finance: Security, Stability, Growth and Protection & Management. This article will discuss security. Investment growth and financial freedom begins
with security. A good question to ask yourself is what is security? For the average individual it means that you have health, disability, auto and home
insurance on top of life insurance. These policies will insurance that if something happens to you your family will be taken care of. If you are the head
of household and you make most of the financial decisions make sure you leave explicit instructions for your family to follow. These should include the
names and locations of all your insurance policies. The names and numbers of your insurance agents. Include all the basic policy information like
account numbers and associated costs. Make sure all your important paper is placed in a secure local like a safety deposit box, at work, or at a friend
house. Keeping the only copies of your insurance information in the house may be a problem especially if the house is damaged by a fire.
Additionally you should maintain a emergency fund. This is money which is placed into a money market account which checks can be written from.
This is money that can be used if there is a financial or natural disaster. Make sure you have at least six months of income saved up, a year would be
even better. This can be done by putting a side a little bit of money each month as well as adding gifted money to the account (from birthdays or
inheritances). It is also important that you have will which reflects what you want to be done in the case of your death. It should include references to
both finances, personal property, and yo