Displaying items by tag: debt

Setting clear and achievable financial goals is essential to improve your financial health. Here are some tips on how to do it effectively:

Many people have started their businesses together with other partners and most probably along the way one or more of the partners have decided to leave the company and have asked for all their shares, resulting in the company collapsing and people were left in debt.

One of the most anticipated days for every worker is payday. So implement the following actions so that your paycheck doesn't slip away when you receive your paycheck.

The World Bank in its latest report: Economic Outlook Latin America and the Caribbean october 2023 estimates that El Salvador's Gross Domestic Product (GDP) growth outlook rose to 2.8% in 2023.

The deputies of the Treasury Commission issued a favorable opinion regarding the approval of the "Special Law that authorizes the execution of liability management operations for the conversion of short term debt to medium and long term debt".

According to the march 2023 Conjunctural Survey of Fundación Guillermo Manuel Ungo (FUNDAUNGO), explains that, despite the adjustment in the household budget, 40.7% of the population had to get into debt to meet their monthly expenses; 32.2% got into debt with other people; 6.2% with financial institutions (Banks or Savings Banks); and 2.3% with other people and with financial institutions.

1-Develop a budget

Ahead of the celebration, it is advisable to be austere. The main advice at the time of buying is to quote and compare at least three alternatives.

The minister of Finance, Alejandro Zelaya said in a morning interview that with the US$560 million that the Special Drawing Rights from the International Monetary Fund (IMF) and the bond signed with the Central American Bank for Economic Integration (CABEI), they will start negotiating with bondholders who wish to sell the 2023-2025 debt which amounts to US$1,600 million.

However, sometimes debts stop being a tool to improve your finances and become a burden that consumes much of your income and an obstacle to your peace of mind and economic growth.