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There's been a lot of press given to the financial reform package completed by Congress this past week. Our government thinks they can solve financial problems and prevent them from happening again. My question to you is: Are your finances reformed? Are you comfortable where you are financially? Are their any financial issues that keep …
You may have heard that it takes 21 days to start a new habit. Why 21? Is that how long it takes our brains to convince us that it's okay to keep doing that new behavior? How do you feel about your financial habits? Are they helping you reach your goals? preventing you? Habits can …
Americans are way behind the ball when it comes to being prepared for retirement. According to the 2010 Retirement Confidence Survey, "Fewer workers report that they and/or their spouse have saved for retirement (69 percent, down from 75 percent in 2009 but statistically equivalent to 72 percent in 2008). Moreover, fewer workers say that they and/or …
You may wonder why the question. How are you doing with saving for Christmas? I do hope you have started before reading this post. Too many folks wait until December to plan for Christmas. This means using plastic as their plan. This only results in added debt (plus interest). If you haven't started saving for …
They say the road to hell is paved with good intentions. Some folks say we'll start saving when we have something left over. Others say they'll start next month. Next month never comes. Here's the secret to saving: Just do it! Below are some tips on how to 'just do it.,'
1) Treat savings like a …
We are in our 3rd season of little league baseball with our oldest son. He is a member of the Indians team. Over the last month we have become aware of the impact that childrens' sports can have on your wallet. Below are some learnings we have experienced in the last month or so.
Takes time. …
It frustrates me how our government continues to keep the blinders on regarding the needed revamp of social security. The Baby Boomers are already beginning to draw their benefits and the unreal toll on the system will only get larger. A forty something like me is probably looking at 1) higher payroll tax; or 2) …
As a husband and father of two I recognize our family's need for fun. Vacation is an important part of a family's life. In these tough economic times it's important to ask what amount you want to spend on fun. We sometimes mistakenly think that family fun must be expensive. There are many options to …
You work hard for your money. You should want to get the most out of it. Below are some ways to make your money work hard for you.
Seek the best rates. This applies to savings accounts, investment accounts as well as your mortgages. You need to be aware of what you're being charged. You also …
Why do we need to save? What's the point? Here are some reasons I think are important.
Family Vacation. You need to plan out and pay cash for your vacations. There's nothing good about slapping your vacation on VISA and having to pay for it the next year.
Retirement. Your working life will end one day. What …
My family is spending a week at Disney World in Orlando, FL. My in-laws are paying for the lodging and tickets. Can you say blessed? We are responsible for the costs of meals and souvenirs and ant other 'entertainment' type expsenses for the week. My wife and I set a budget for the week of …
As mentioned in my previous post, we are enjoying a 7 day Disney vacation compliments of my in-laws (Christmas gift). We are responsible for extra events we attend as well as our food costs. We learned early on that Disney allows families to bring food and drinks into the park. What a blessing! We are …
As my family and I approach the last half of our Disney vacation, I thought I would choose a Disney-related title. Have you ever been out of touch? clueless? Have you or someone you know ever been benched by the coach? If you've made financial mistakes, you're not alone. Managing money is a game. There …
While most experts agree the worst of the recession is behind us, the unemployment rate is still hovering around 10.0%. What this means is there are still millions of folks in the U.S. without jobs. Some of those individuals may have found a job but be making significantly less than the job they lost. Some of …
In her Kiplinger.com article, " 6 Money Mistakes of Newlyweds," Erin Burt shares mistake #3: That one partner shouldn't give the other financial reins. This is so true. Managing money in marriage is a shared undertaking. Both partners have a vested interest in the final decisions. When two partners marry, they become one. Marriage partners both …
It's a fact of life we are all gettiing older. It's also a fact that one day we will have a retirement of some kind. There a lots of product 'types' in the marketplace. My thought is what retirement 'type' do you prefer? Below are some types to think about as you envision your retirement.
Seamless …
As the new year inches ever so closer, it's a good time to take an overall look at your financial situation. A good way to know this is to establish your net worth. You need to know the sum total of what you owe and what you own. Many folks just aren't aware of where …
We all have the need for fun. Getting out and spending time with family and friends ia a worthwhile investment. What we have to guard against is buying too much fun and spending the next year paying for it. It is possible to have fun without significant expense. Below are some ways to experience frugal …
I am a HUGE Kentucky basketball fan. While last year was a humbling season, this new team under new Coach Calipari is turning some heads. As a personal finance blogger I couldn't help come up with some ways that basketball and finances are similar. Here goes.
Value every possession. What you do with every penny you …
Why do some folks get ahead financially while others struggle? Why does one person go on to achieve their financial goals, while another flounders from one mistake to another? I contend that it's adherence to the little things that can make the difference between success and failure with money. What are the little things? Below is …
As 2010 begins I have a few folks I think can get you off on the right track. Below are five posts that I enjoyed reading this week. Go by and give them a visit.
I would highly recommend Bible Money Matter's post on setting up a blog.
Kudos go out to Christian PF on the ingredients …
A new year means new beginnings. A fresh start. A clean slate. It's a great time to go over your financial situation and make sure you've got everything covered. You know the feeling when you get an hour down the road and you realize you forgot something. Not fun. Below is a checklist of financial …
If you don't work in the career field of finance or business the word "retirement planning" can be intimidating. How do I start? What is the best way to do it? What is the risk involved? How much will it cost? How much will I need to retire? Your first step toward retirement is to …
We will hang it up one day. We will quit our day job. If you're lucky you'll leave on your terms. We want a retirement that is good. We want to enjoy the fruits of our labors. Below are some suggestions for anyone wanting their retirement days to be their best days.
Make good health a …
Sometimes differences in marriage can lead to conflict. Different styles, preferences, interests, and personalities are just a few examples. If we are honest enough we will admit that there are things that our spouse does better than we do. When it comes to the details of your finances, who crafts the plan? Which one of you seems …
The recession impacted the portfolios of millions of people in the United States. It's safe to say that many consumers experienced losses that they hope to never experience again. Some writers say the recession was a 'cleansing' that was needed for an overextended economy. I'm not sure myself. I do know that I learned some …
Discussing money. It's a necessary evil in marriage. The number one reason for divorce is money fights. Spouses don't agree on issues surrounding money. Opinions vary on the issues of saving, spending, and debt. It's safe to say we've all had arguments about money. What if you knew the ingredients of a 'healthy' money talk. …
There's a reason it's called 'personal' finance. How you spend your money is personal. You choose what you buy. You choose what is too expensive and what is not. When a couple joins their hearts together in marriage they bring their money issues into the marriage as well. Sometimes the 'personal' issues of money are …
Do you want more income? Do you mistakenly think that making more money will bring you immediate results? Will it help you reach your financial goals more quickly? My opinion is making more is only half of the equation. To truly succeed with more you need to do the second half: direct your money. Yes, you …
We've heard the term stimulus a lot in the last 3 months. Our President, congressmen, and senators have thrown billions of dollars at the economy trying to jolt it into a recovery. Whether the funds will accomplish the intended results remains to be seen. My intent is for you to worry about what you can …
It's no secret that the costs of college rise every year. As your child nears college age it's important to look at what you can offer your child in the way of assistance. My premise is that the college experience should be a partnership between parent and child. While nobody will argue that fun should …
You want to raise a responsible teenager. You understand that one day they'll move out on their own. Managing your child's work habits is a tricky endeavor. As a parent you have to decide the proper parameters for work in your teen's life. In addition to the value of work you hope that they graduate into …
You remember them from high school. The rich kids who didn't work an hour yet drove the nicest cars. They looked down on others who didn't have what they have. They wore designer clothes and it all paid for by their parents. It's not a crime to want the best for your child. It is …
Financial peace means different things to different people. For sure, most everyone wants to achieve it. Being at peace with your money situation is a great place to be. Are you there right now? Are you missing a few pieces your financial peace puzzle? If financial peace is what you want, you have to define …
A new year present opportunities for better money management. It also holds the opportunity to repeat your past mistakes. If you wish to have more success financially, please read the rest of this post.
1) DEVOTE TO A BUDGET
While the term "budget" may leave a bad taste in your mouth, it is a must to succeed …
There are bunches of college graduates returning to their parents home after graduation. The shaky job market coupled with large amounts of student loan debt make striking out on their own unrealistic. According to Monster's 2009 Annual Entry-Level job outlook, about 40% of 2008 grads still live with their parents. Parents in this predicament need options …
In the January 2010 issue of Money Magazine the author recommends "adding a credential" as a tool to survive in today's fragile job market. The recession has caused millions of workers to rethink what job security means. As I write the unemployment rate is still hovering around 10%. It makes sense to have more than …
I thought I would share some of the wealth shared in various blogs I read this week. Kudos to the following great reads:
Kick Debt Off shares an awesome financial fitness test to assess your financial situation.
Money Smart Life shares about 9 mistakes people make with their IRA.
Neal at Wealth Pilgrim shares tips whether your struggle is weight …
Do you have some financial decisions that you still haven't completed? Does your budget seem to always get busted? It could because it's out of sight. What financial issue have you forgotten? You think about it from time to time but it's often off your radar. Below are some examples of often forgotten items:
Will – …
It's been a good week in the blogospere. I've taken the time to highlight posts that offered excellent advice.
Engineer Your Finances offers great advice on the value of outsourcing so you can be more efficient.
Money Help 4 Christians writes a great piece about 7 factors you can't control about your retirement.
Finance Dad writes about saving …
The following information is from a high school counselor in Georgia. While some issues vary from state to state, the major requirements do remain the same for most high school students.
Do you have a high schooler in your house? Have you discussed college with him/her? It's important to know just what colleges look for when …
We're now in the middle of February. Did you make any financial resolutions back in January? Maybe you're having a problem with your financials goals. Maybe it's because you didn't set any (like me). Have you ever failed to reach a financial goal? What was the reason for failure? Laziness? Lack of focus? No follow through? …
What Color is Your Parachute? by Richard N. Bolles
The one piece of advice I remember from the book was after identifying your ideal job go and interview a person doing that job. Ask them what they like and dislike about their job.
For a review of the book go to The Simple Dollar.
Please comment by sharing your …
In the spirit of the 2010 Olympics in Vancouver I wanted to recognize the champion writers for the week:
Financial Highway shares wisdom on dispelling financial planning myths.
Cash Only Living shares about good things about the bad economy.
Balance Junkie posts about love and money – the rules of engagement.
Foreigners Finances reports on leasing or buying a car.
Christian …
A close friend of ours in another state lost her husband to an unexpected illness. In short, he was admitted to the hospital and in 1 week he was dead. He left behind a wife in her thirties and 3 children ages 3,6, and 8. He handled all the finances. At the time of his death …
Below are some of the more interesting posts from the blogosphere this week.
One Money Design shares about 10 personal finance tips for pre-married couples.
Good Financial Cents gives tax filers a good list of what to bring to your income tax preparer.
Wise Bread shares 6 steps for a woman's financial self defense.
Money Help for Christians gives …
I am not an insurance agent. I am pretty clueless about permanent life insurance policies. I would like to ask my PF Blogger friends to sound off on this topic. Is permanent life insurance ever beneficial? Ive always heard that term life insurance is the best way to protect one's life from the unexpected. It's cheaper and has …
The market plunge of 2008 created a lot of anxiety with investors. Many faced the decision to pull money from their accounts or leave them alone. What action did you take? DId you pull 10%, 20%, 50%, or do nothing. As for me, I pulled 10% of mine out and put it in an online savings …
In the Jan/Feb 2010 issue of Money magazine the author asks if investors are making the mistake of "following the herd." One example of following the herd is how much you should invest in stocks according to your age. One common technique has you subtract your age from 110 and you should have that percentage …
Below are some of the better posts that I read over the past week.
Funny About Money reports on the importance of big picture thinking and the penny pincher.
Bible Money Matters shares ways to make extra money by diversifying income streams.
Jeff at Good Financial Cents shares tips on how to be a successful financial advisor.
The Centsible …
"I owe, I owe, it's off to work I go." I saw it on a bumper sticker years ago. Ever wonder what you're working for? Are you closer to choosing work on your terms or does ever-mounting debt make stepping away seem like an eternity away? Today's choices affect your future choices. Living paycheck to paycheck can make …
Spring is here. The buds are breaking and the grass is greening up. The arrival of spring means a new start, a new season. This is a great time to give your finances a 'clean start' as well. Those neglected papers and unopened envelopes need attention. Below are some good steps to take to get …
The stock market drop of 2008 will forever be remembered. A steeper decline has not been witnessed since the Great Depression. The steep retraction resulted in a negative impact on the portfolios of millions. I read in Money magazine that most economists believe the recession ended in the middle of 2009. Has your asset allocation …
I found some good reads this week. Enjoy.
PopEconomics shares the pros and cons of equity-indexed annuities.
BibleMoneyMatters promotes responsibility by encouraging you to own your finances.
Weakonomics shares straightforward advice on how to buy a car.
Jason Topp writes a guest post on BibleMoneyMatters about what you need to know about disability insurance.
ChristianPF shares about a most powerful …
Ever wondered why things keep screwing up? The worst things happen at the worst times. Maybe it's time for a money makeover. Here are some signs you need a makeover and a solution for each one.
1) Overdraw on your checking account. Solution. 1a) Track all expenses for 30 days. You are overspending on some categories. 1b) …
There have been some great posts written this week. Take a look at what I found.
Guest poster Lyndon at Financial Samurai writes a great piece about wealth being an illusion of happiness.
Guest poster John Frainee of The Christian Dollar writes on Bible Money Matters a great post asking, Is it time to get a Second Job?
Craig …
You want to be free from debt. The balance of debt you have keeps growing. You wonder how to tackle this challenge. How long will it take to be debt free? If you're serious about getting out of debt, here are some shortcuts that can get you there quickly.
Pay more than the minimum on credit …
In the last 8 months I have taken 2 pay cuts. I have a 3rd one coming up in September. I am a school counselor in an elementary school in Georgia. Georgia's budget woes are well documented and are hitting our family budget hard. I have been blessed in the last 2 weeks to pick up …
The unemployment rate in America is still hovering around 9-10%. I have several personal friends who are without a job right now. I'm wondering what you readers recommend as "top job hunting practices." What have you seen that works well for folks in search of work. In our FPU class Dave Ramsey shared that the …