Your financial health is vital and it should be maintained with the utmost care. To avoid cash crunch and to avail cash advance Canada, you need to inculcate a habit of checking your financial health at a particular environment.

To be precise, determining your financial strength is a preventive measure to stay prepared for any unforeseen expenses. No one is immune to a cash crunch. Even the richest of people often face financial discrepancies due to various reasons.

Understanding the uncertainty of the crisis, you should always keep a tap on the financial portfolio to get a better view of the future. Before you directly delve into the ways for conducting a financial wellness check, learn its benefits:

  1. Makes it easier to get future cash advance Canada
  2. Proper understanding of assets and liabilities
  3. Improved way of saving
  4. Better repayment of debts if any

To get all such benefits, you need to harness the following steps:

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  1. Determine Your Net Worth

This happens to be the thumb rule. You need to start with by evaluating your net worth. This will provide you with a clear and panoramic financial picture. Take an account of everything you own and you owe to get an estimated number.

However, if the net worth is somehow going towards a negative side, fret not. You will have loads of ways to improve the same eventually.

  1. Evaluate Your Debt-to-Income Ratio

Your debt-to-income ratio is an important component to check the financial portfolio. Many lenders often give importance to DTI before finalizing a cash advance Canada. So, if you are thinking to avail a credit in the near future, take care of this factor.

In order to calculate the ratio, divide your monthly income with monthly debts. It is always advisable to maintain a DTI lower than 30% to prove creditworthiness to any lender.

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  1. Measure Your Cash Flow

Measuring your monthly cash flow is vital for it will make you understand of your expenses. People often get overwhelmed and spend a lot more than required. The thing your net worth is directly proportional to your monthly cash flow.

So, if you are running negative in your cash flow, you are going down on your net worth and vice versa. Make sure to keep this flow at least 20% of your monthly income.

  1. Have an Investment Strategy

Create a robust investment strategy. This is the best way to ensure your hard-earned money is in stock. Take the help of any financial advisor to unlock and learn several hacks to make your financial condition steadier than ever.

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  1. Create a Financial Goal

Lastly, you should always have a financial goal with several alternatives. These goals will help you decide the road to fortify your personal and professional life with ease.

Considering all the steps will provide you a stronger baseline to further improve your financial condition. Moreover, it will also help you to get hold of a cash advance Canada immediately without much hassle. So, what are you waiting for? Secure your present and the future with these little habits right away.

If you want to spend money on physical gold at the lowest possible price per ounce, there is nothing better than gold bars. Coins might be more attractive to look at but the packaging and manufacturing comes at a special price. Gold bars are taken to be the stalwart of the industry. This is something that central banks and average investors buy and store. Thus, nothing can go wrong when you purchase gold bars.

Why Purchase Gold?

Gold is not used as the currency at present. However, its role as money will make  it superior to any currency. One of the important promises of money is that it serves as long as the long-term store value.  Gold will fulfill this promise much better than any kind of fiat currency.

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When you purchase gold bars, you will be able to hold it in your hand.  This is something that you will not be able to do with other investment.  Keep in mind that real gold cannot be destroyed with water, fire, or even time. Gold is pretty tangible, highly liquid, and finite. You can easily convert gold to cash and go with it anywhere you like. Physical gold is considered to be one of the best forms of long-term wealth preservation. It is also best for your heirs as it will outlast any kind of currency which they might use in future.

Benefits of Purchasing Gold Bars

You will be able to get more ounces for your money when you purchase gold bars than coins.

The primary reason that an investor look for gold bar is that they are pretty less expensive than the gold coins. Premiums tend to be lower since the coins have an intricate design and thus, involves less machining and labor costs.  Coins might be prettier but you will have to pay extra money for that appealing look. A gold bar will take up less space than the same amount of coins. As a matter of fact, bars have been designed for easy storage.

Buying gold bars will not compromise any of the core advantages of gold. They are private, portable, and liquid.  Hence, it is going to last forever.

Choose the Best Gold Bar Size for You

Buy the one-ounce gold bars for meeting the future needs as they come up. In case, they have net worth, you should buy both large and small bars. Once of the first decisions that you need to make while buying purchase gold bars is what size do you have to purchase. They are as small as one gram and as big as 400 ounces. However, this doesn’t mean that you have the buy the heaviest bars that you can afford.purchase gold barsBig bars will not offer the divisibility but smaller ones will do. When you sell multiple small bars for exchanging the right amount of gold for the right amount of currency you need.

  • Fewer prospective buyers. Not many buyers will purchase gold bars, 100 ounce gold bars. If you have smaller sized gold bars, you will have a greater pool of customers.

     

    Low amount of counterfeit risk. Counterfeiter likes to buy big bars because they are worth a lot.

The advantage of buying bigger gold bars is that the premium is going to be smaller.Read more info here!