Hashtag: #HSBCAdviceColumns
HSBC: Managing Your Money As A Couple
[Advice column by HSBC Bermuda] My husband suggested that we close our individual bank accounts and open one joint bank account. I’m a little hesitant to combine all of our money, but want to understand all options before I make a final decision. Can you help? Options for managing your money as a couple Many people decide to merge their money when... Read more of this article
HSBC: Considering Being A Stay-At-Home Mom
[Advice column by HSBC Bermuda] We just had our first child and I am debating if I should return to work or be a stay at home mom. How do I determine if this is financially realistic for our family? Becoming a parent is a huge financial responsibility as well as a lifestyle change. Before making a final decision calculate what your new income will be,... Read more of this article
HSBC: Easing A Wedding’s Financial Pressure
[Advice column by HSBC Bermuda] I’m getting married! I am in the process of planning our dream wedding and honeymoon but my fiancé is very cost conscious and worried that we will end up spending too much. What advice do you have for us? Congratulations! Understandably, the pressure of funding a wedding and a honeymoon can lead to stress and anxiety... Read more of this article
HSBC: Protecting Family From Inheriting Debt
[Advice column by HSBC Bermuda] Unfortunately I have accumulated a bit of debt over the years. I’m doing what I can to pay it off quickly, but as I get older I’m more worried that my debt will eventually be passed on to my children. Is there a way that I can protect them from this? Insurance is one of the most comprehensive and common ways to guarantee... Read more of this article
HSBC: Budgeting To Keep Track Of Your Money
[Advice column by HSBC Bermuda] I set a budget for myself every month, but I struggle to keep track of my spending. By the end of the month I don’t know where I spent all of my money. What can I do to better discipline myself? Managing your accounts The first step to tracking your cash is making sure you have access to your accounts. The easiest way... Read more of this article
HSBC: Saving Money To Become A Homeowner
[Advice column by HSBC Bermuda] I want to buy a home sooner rather than later. How should I go about saving for the down payment? Also, are there other expenses I need to consider? The key to building your savings is to start saving as much as you can as soon as possible. The more you save now, the more you will benefit when you’re ready to buy a... Read more of this article
HSBC: How To Utilize The Foreign Exchange
[Advice column by HSBC Bermuda] My child is starting university soon and I’ll need to pay for his living expenses and tuition in Canadian dollars. How can I ensure that I get the best possible foreign exchange rate and what are some of the key risks I should consider? Start with the end in mind. Use today’s Bermuda dollar [BMD] to Canadian dollars... Read more of this article
HSBC: Investment Tips And Advice To Live By
[Advice column by HSBC Bermuda] I can’t afford to see a financial advisor so I have been making investing decisions on my own for about 6 years. Do you have any tips that can help me make better decisions? It is great that you have taken the initiative to develop an investment strategy on your own. However, not all financial advisors charge a fee.... Read more of this article
HSBC: Identifying & Solving Pension Gaps
[Advice column by HSBC Bermuda] Will my pension be enough to support me when I retire? A pension is designed to provide financial support in retirement, however it is possible that you may have a pension gap. This means that your pension income could be less than what you’ll need in retirement to support your desired standard of living. If this... Read more of this article
HSBC: Tips On Saving & Investing Your Money
[Advice column by HSBC Bermuda] I’ve always heard that I should invest my money instead of allowing it to sit in my savings account. However, I don’t really understand investing. What is difference between the two? When and how long should I invest for? Saving vs. Investing Your Money The challenge with savings accounts With interest rates at an... Read more of this article
