• Personal Finance

    Take a Fresh Look at Finances

    • Start with a clean slate. Review your financial situation and recent spending patterns. Is your spending aligned with your financial goals? Re-evaluate any bad money habits that may be holding you back from making better financial decisions. Remind yourself that healthy financial behaviors can become part of your daily routine.
    • Commit to financial stability. It’s easier to do something when you are intentional. Just like you set aside an afternoon to clean out the garage, set aside a few hours to clean up your finances. During this time, reflect, organize and make a conscious commitment to take responsibility for your financial future.
    • Create, update or review your plan of action. A financial plan provides a road map for spending and saving, and encourages you to allocate your money toward the items or experiences that matter most to you. Your plan should include how you will handle your day-to-day finances, achieve
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  • Personal Finance

    About Buying Gold Online

    Investment

    Are you planning to invest your whole capital in gold? Considering the ups and downs of the economy, it is important to know where you should invest and when is the best time to do it. There is a long list of factors that can affect your investment, but with a little planning and research, you can find a way that will safely preserve your money for future investments and also allow you to earn profit from it.

    Learn

    There are many things about gold that you need to learn. Its value is based on its weight and purity. The closest to the purest form is the 22-carat gold. Also, many pieces of jewelry and coins are not made from pure gold. Their value is computed based on the price for each troy ounce of gold. At present, this is worth around $1336, but this figure will change from … Read the rest

  • Personal Finance

    Steps To Organize And Pay Your Bills

    Create a list of all your outstanding expenses and debts

    If you have to pay for something, make sure that it gets added to this list. Categorize the items where possible (fixed vs. monthly expenses, bi-weekly expenses, and one-time expenses.) Put the most expensive payment at the top and the lowest one on the bottom.

    Develop a budget that ensures you can pay these bills and expenses each month

    Do you know how much money you make each month? If your expenses add up to more than you’re making, you need to evaluate your spending. Cancel unnecessary subscriptions. Call your cell and landline providers, and ask them to review your current plan to see if there are any new promotions that would lower your bill. Do the same for your cable bill. In other words, do what it takes to save money each month instead of throwing it away on … Read the rest

  • Personal Finance

    Get Lean and Mean With Money

    Operate an efficient money production line

    Imagine that your life was like an assembly line at a manufacturing company. Just like the person in charge of production, you would want to ensure that none of the raw materials were wasted and that you got as much finished product as possible out of your machinery time and employee effort.

    Let’s review the Japanese words for inefficiencies — muda means idleness or wastage of resources when trying to complete a task; mura is the unequal or unbalanced use of different resources; while muri means the excessive or unreasonable use of a resource which could put it at risk.

    In order to get the most out of the money you earn or have on hand to further your goals, you need to eliminate these types of inefficiencies. Your aim, like that of a profitable corporation, is to utilise your financial resources in ways … Read the rest

  • Personal Finance

    Get An Income For Life

    A life income annuity, sometimes called a single premium immediate annuity, is the type of product that corporations use for pensions. If you work for a company and you’ve accumulated money in your pension plan, when you retire you get an income for the rest of your life. The product that underlies that pension and monthly income is a life income annuity. Not only can you buy this same product on your own, but you may get a better deal than you’d get with a corporate pension. When companies shop for these annuities, they don’t look for the highest income for their employee, but the lowest cost to them. By for shopping it yourself you can probably get a better income than you would through your company. Of course, you want to be sure that the company offering your annuity will be around as long as you are, so be … Read the rest

  • Personal Finance

    Ultimate Savings Apps for Non-Savers

    Digit

    Digit works by analyzing your bank account and expenses. Once it has established a trend, it will make deposits to an FDIC-insured account based on what funds you have remaining after your expenses have been paid, typically between $5 and $35, every couple of days. The automatic savings deposits make Digit great for those that have difficulties in depositing savings themselves. The service is free for the first 100-days but a fee of $2.99 is charged monthly after the free period. Another great feature of Digit is how fast money is deposited back into your bank account once you make a withdraw. In the event of a financial emergency, you can expect your deposit the next business day.

    The downside to Digit is that you will have to keep an eye on your checking account since the amount withdrawn can vary week-to-week. If your account is overdrawn because of … Read the rest

  • Personal Finance

    Accounting Basics

    In accounting language, neither debits nor credits are ‘bad’, as the two must be equal to each other and balance themselves finally at the end of any calculation. For every recorded transaction, whether it is a paid bill or an amount deposited, in the system of accounting there need to be two entries, one each for debit and credit. This system of accounting is known as a ‘double entry system.’ So, when the teller at the bank says he is crediting X dollars to your account, he is simultaneously creating a debit entry for the same amount X, though you are not informed of the debit entry. Likewise, when the teller debits your account by Y dollars, a credit entry for the same amount is created elsewhere.

    The simplest way to understand credits and debits in accounting language is to know what you collected and from where it came. In … Read the rest

  • Personal Finance

    Wasteful Money Habits

    • Don’t make a record of your expenditures. If you don’t record how you spend your money for a couple of months, you’ll never get the picture. Journal your spending. Even the drinks you buy when you visit with friends at your favorite club. Be sure to include the impulse buying and the emotional buying and the candy bars, exotic coffees and other overspending items.
    • Keep up with the Garcia’s. If you want to keep up the appearances of prosperity, you will end up looking as poor as you are! Your neighbor buys a big new pickup truck, and you have to buy a bigger one. You want to live at the same level as your parents, even though it took them years to be able to have the nice house and furniture and car. But, you want to take shortcuts. The only place where Success comes before Work is in
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  • Personal Finance

    Tips for Financial Gratefulness

    Focus on what is right with you and stop replaying what is not right in your life!

    When did you last grip about something? It wasn’t that long ago that I moaned often unhappily. I was unhappy with my work, and in my personal life and for these reasons, I complained to others. My friends were also sad – it was a group pity party and we supported each other about feeling discontentment. To be honest, I was envious of other people who were satisfied with their lives. This is a revealing truth.

    With time, I learned to pay more attention on what was working in my life and acknowledge the resources I did have more than I complained. Overtime, I felt a change happen, and more good things and people came into my life.

    Try this tip for yourself and plan a time when you acknowledge what is working … Read the rest

  • Personal Finance

    Steps of Money Anxiety

    • Feelings of shame and blame because you do not have proficient money management skills. Many adults feel they are supposed to know money management automatically, and this is a mentally harmful thought. Replace this internal conversation by showing compassion for yourself for all the money errors you have made in the past. Choosing to become proactive in your money decisions instead of feeling the anxiety over money is a positive move in learning new skills to improve your personal finances. It will surprise you to see that one action at a time improves your money management skills and makes you feel self-assured.
    • You feel isolated. I want to remove the idea that you are the only person that doesn’t know how to manage money successfully. There are approximately seventy percent of adults that are making it paycheck to paycheck. Seventy-six percent of individuals feel that their personal finances are uncontrollable.
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