Financial Plan Factors to Consider

A financial plan is an instrument everyone with money should create. A financial plan is any drawn out concept in which showcases some direction of where you would like your finances to go. Whether you are taking your financial situation into your own hands or seeking advice from a professional, with both options, individuals should have a written plan of expectations. However, when crafting these expectations, there are many factors one should consider in order to account for life. Here are some factors that one should consider while planning their life’s financial plan:

 

Employment – What is your employment status? Do you feel stable in your current position? Are you happy at your current job? If you are unhappy, are you considering switching to a new company? These are important questions regarding one’s employment that should be considered. The most ideal position someone could be in is one in which an individual is happy and feels stable within the company. However, if you are unhappy with your job and you are considering moving position, consider how the job change …

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Dortmund, Germany – Geography and Demographics

Geography 

With a population of approx. 590,000, Dortmund is the eighth largest city in Germany, and is about the same as Stuttgart, Düsseldorf and Essen. The more than 1100 years old city is considered the “heart of Westphalia”.

Dortmund is an important traffic junction on the north-eastern edge of the Ruhr area which borders the Sauerland area in the south-east as well as the Münsterland area in the north. Geographically, Dortmund has the following coordinates: 51° 30′ 58″ north latitude and 7° 28′ 05″ east longitude.

Dortmund lays between 50 and 254 meters above sea level. South of the city border, the river “Lenne” flows into the river “Ruhr”, which in turn flows into the “Rhine” river about 70 km west. The old Hanseatic city is connected to the North Sea via the Dortmund-Ems Canal, the end point of which is the more than 100-year-old Dortmund harbor.

Demographics

Dortmund’s population grew rapidly in the time of the 19th century industrialization when coal mining and steel processing in the city began. 1904 marks the year when Dortmund saw a population of …

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SME debt rises

Debt can come from a variety of places, especially when you are working within the confines of a business and it’s very specific budget. Many times, debt for these institutions is in the form of owed money; this owed money was usually a loan from the bank. 

Within the recent years, the prices of these loans, or borrowing costs, have increased. The first three months of 2019 have seen significant growth in this area, despite economist’s predictions that interest rates would be falling within the year. 

SME’s, or small-to-medium enterprises, saw these high borrowing costs as a sign that they should proceed with extreme caution when working within the borrowing market. These businesses already pay some of the highest interest rates in the European Union and have made sure to be well educated on the possibilities of economic changes or interest hikes on their finances. 

Small-to-medium enterprises are extremely important to have in any market, given that they play a key role in employment. Small enterprises are defined as having less than 50 employees and have an annual turnover or …

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