To add to your knowledge of financial products. Unfortunately for those who weren’t good at the subject at school, this will involve a bit of maths. But knowing ‘how the numbers work’ is crucial if you are to stay on top of your finances and to make sure you get the best deals. Not only will this help you to understand how interest rates work and their cost to you, but also you will be better able to manage and organise your monthly income and outgoings for your properties, which could be substantial when you are running a larger portfolio of properties. Don’t worry, the maths in all of this is relatively straightforward, and once you know the principles, you’ll find yourself using them every day. You can find out more about working out interest rates and other calculations by taking out simple finance books from your local library, or on the Internet of course. Or, if you know a bank manager, a maths teacher or somebody who works with financial products, they may be able to give you a crash course.
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