Scotland’s agenda: maximising resources and finances

Maximising finances is not just a concern or endeavour for the government, but for personal life as well.

07:52 29 July 2013

Scotland is planning to devote a group to the effort of maximising the benefits of their oil industry without raising taxes, in the event that they acquire independence. Careful deliberation could prevent some issues from occurring, and could help Scotland plan for potential pitfalls and drawbacks within the oil industry and Scotland’s economy.

 

We all need to consider how best to maximize our own personal finances, and sometimes business finances as well, making the task doubly tricky. Here are a few things to consider with your personal finances:

 

• Needs—taking a logical approach to your expenses will help you determine needs from desires. Consider the true value of your expenses and the impact to your finances to determine if the investment is worthwhile. If you’re considering an expense, ask yourself if it is a necessity and think of alternate ways to spend the money so you know that you are maximising your finances. 

 

• Investments—obviously this is one category that revolves around the idea of obtaining the best results from the money you invest. This might not be applicable to your personal situation currently, but with a few beneficial decisions you might be able to further your finances by investing. 

 

• Donations—if you like to give back to your community or to special charities, make sure that your finances are put to good use. Research organisations to be sure that most of the money received is spent on the people or causes you want to help.  You might also decide that volunteering in your community is a great way to help, without causing stress about your finances. 

 

• Services—when budgeting for any type of service, be sure to check available options. Compare them with one another so you won’t be putting unnecessary strain on your finances, but also to ensure you are receiving the best possible value for your money.