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Private Finance

Personal vs Business: The Two Sides of Private Finance

 

Your private finances aren't limited to the cash in your bank account. When professionals use the term private finance, they could be referring to one of two distinct yet inextricably linked concepts.

  • Personal finance is the money you own. It is the stocks, bonds, insurance policies, and bank accounts that are under your exclusive power. This includes joint personal accounts with your spouse or other trusted individual.

  • Your business finances are those related directly to your work. Your business expense account, commercial bank accounts meant to fund your operations, and stocks and holdings in your corporate name are included in this category.

 

To ensure the entirety of your wealth is fully protected, you need a private finance advisor who can help you with both paths. Contact the experts at Money Broker Canada in the Markham ON area for personalized guidance on all of your money matters.