Learning to Save Money

It is no wonder that American’s cannot save. There is nothing in our culture that promotes keeping your income. You need to keep up with the Jones’s. If you don’t have the bigger house or the new car, you’re not successful in life. We are taught from a young age that image is everything, so buy it.

While there is nothing wrong with having things, it is important to know how to save money to be able to get them. Saving and living within your means gives you the best chance of affording the things you want without overextending to get it. It is possible. You can start getting onto the road of saving.

First, you need to have a reason to save. Why do you need to keep your money? What are your goals? Having clearly defined goals will help establish a discipline to help meet that objective. Maybe the goal is to save for a car, a house, a trip, or retirement. Once you know where you want to go, then you can start the journey on how to get there.

Next, you need to find the money. The sage old advice says

Prevent Elderly Financial Exploitation

Seniors make up for one third of the nation’s net worth, which makes them a considerably easy target for advisors looking to exploit them financially. Ninety percent of abuse comes from family members or trusted others like, financial advisors. According to a 2007 University of Miami study, since many elder suffer from cognitive impairment, investment skill deteriorates dramatically after the age of 70. Warning signs of elder financial exploitation often include sudden reluctance to discuss finances, unusual unexplained cash withdrawals and wire transfers.

Between 2008 and 2011, a Metlife Study of Elder Financial Abuse found a 12 percent increase in the dollar amount of which elders were being defrauded. One of the most common scams targeting seniors are “free lunches,” marketed as educational presentations. However, these meals often end up as sales pitches for investment products with misleading claims. The elderly are put in a situation where they are given a hard sell for unsuitable investments, and pressured to buy investment products after accepting a free meal.

Another instance in which elders fall victim to financial exploitation is via unsolicited phone, mail or e-mail pitch. In this case, they are tempted with financial products and services,

Benefits of Independent Investment Advisors

Understand exactly what you are paying

Independent RIAs charge a fee based on a percentage of total assets managed. This fee structure has many advantages. It’s simple, transparent and easy to understand, helping to avoid surprises. It also gives your advisor an incentive to grow your assets-when you succeed, your advisor succeeds.

Advice for your complex needs

Independent RIAs provide services that address a variety of complex investment needs that often arise when you accumulate wealth, such as assisting you with the sale of a business, complicated tax situations, trusts and intergenerational issues. They can also help you prepare for future goals including college funding, debt management, and retirement planning. They should be your point of contact for every financial issue that may come up.

You won’t be sold a “Product”

An Independant RIA is not paid on commission. This means they will not push loaded mutual funds, non-public REITS, whole life, variable annuities, or other hard to understand products (which historically have high commission rates for the brokers who sell them). This means you are receiving objective advice with out any conflicts of interest.

Enjoy a different kind of relationship

Saving Money at Work

  • CLOTHING . Whatever type of clothes you wear to work – casual, formal, or something in between, you can find them used in great condition for very little money at thrift stores. But one thrift store may not sell everything you need to wear. Also, not every thrift store will have your size. So, visit several of them to buy those clothes.
  • COFFEE, I don’t think any employee can go through the workday without drinking at least one cup of coffee. But, if you are a coffee connoisseur, you probably can’t resist buying your morning cup of Joe from Starbucks. Don’t go to Starbucks every day, or any other coffee shop that competes with Starbucks. The smallest cup of regular coffee there costs roughly $1.50. If your tastes lean towards gourmet you could spend up to $3 more per cup. You could spend between $7.50- $30.00 for one cup of coffee every day per week. That would increase your spending from $375 to $1,500 in one year. So, bring your own large jar or jug of coffee to work. A 48-ounce jug of Folger’s coffee grounds costs about $16.50 at Office Depot. This amounts to about $.03

Financial Mistakes To Avoid This Holiday Season

Not having a financial plan

If you never utilized a financial plan for your own accounts, then risks are that you are going to fail miserably this season!

What amount would you say you are going to spend? What amount of cash would you say you are going to need? In particular, what are you going to afford? Shopping without a financial plan this Christmas is one of the top mistakes consumers do. Implementing a financial plan is the first thing everybody ought to do when planning on going to shop this Christmas season.

No budget Christmas by any means

If you do budget each month then you most likely are liable of this; not planning for Christmas. We are not perfect, and truly, this is a slip-up that many people do almost every year.

Do not plan for Christmas. Knowing the fact Christmas is coming. You will realize that it will drain you financially, still never do that. The reason behind this is because you will do the following things given below:

Not pay a bill or bills on December to buy Christmas presents.

Shop for Christmas and use a

Financial Advisor Can Help You Stay on Track

  1. Measuring where you are now

You know the expression “you can’t know where you are going, if you don’t know where you have been.” Nothing could hold more truth, in relation to your personal finances.

If you don’t know your key money numbers (your net worth, monthly cash flows and several others), learning how you need to proceed forward in a helpful way is made more difficult.

If these calculations are properly determined they will tell you: what you have now (assets), what you owe now (liabilities) and what you have retained (equity). Further, the money that you earn and spend will be uncovered in detail, which will give you the extended information of what you can save, debt you can either pay-off or your capacity for new debt and serve to indicate if you have the funds to give money away and/or invest.

These questions are not easily answered without a proper look into your personal financial information and then suitable conclusions and decisions made from them.

  1. Establishing your priorities

Prioritizing what you need and want from your money is not always easy.

There needs to be not only

Debt Helpline

Now, you do not halt at acknowledging that you have got financial debt problem. One reason why maybe you have debt concern is that you have modest resources to cover what you awe or perhaps a serious event persuaded you to definitely borrow money. As a result, the next step you need to do would be to concentrate on your financial allowance. This may give you extra cash to repay what you awe. The primary theory of budgeting is living within your means. Don’t spend much more than what you earn.

The following course of action will be to discuss with your lenders. It’s best encouraged to communicate with them to start with prior to getting the aid of a third party. Trying to begin the settlement is a satisfaction to your creditors simply because this would certainly express your eagerness to pay them. Deal wherever possible. Loan companies will certainly bargain things so they can get the return of their expenditure. Even so, don’t expect to see great results in the beginning. Bear in mind you are bargaining. So don’t dash into things. Even though you’re on the negotiation process, don’t neglect to pay back your

Managing Debt During The Holidays

Giving On A Budget

First, write out a list of people who you are buying gifts for. You may find that your list is a little unreasonable or could be trimmed down. Arrange a gift exchange for your family or coworkers so that everyone is only responsible for one person. Draw names and give a more expensive gift to that one person. Get creative and try to find other, inexpensive gifts for additional people on your list or find a few people who might appreciate homemade gifts, like baked goods or craft items. You would be surprised how many neat ideas there are for gifts that can be made from a few, affordable items from the local craft store or farmers market.

Also, consider the fact that you still have two months to stock up cash for your gifts. Eliminate one of your luxury purchases and save that money to go towards your gift fund. Rather than splurging on Starbucks from now until Christmas, make coffee at home and keep that money in your bank account. Look online and in newspapers for coupons or discount days. Many stores are already running specials and holding sales, and

About Systematic Debt Management

Follow Your Budget

You have to strictly follow what is on your budget. Always observe what you have written down. You will know that something is wrong, when your bills keep mounting up and you have need for finding a way out of all your obligations. Make every effort to get back on track. It may take a while but it is possible.

If you are unable to adhere to your budget, what you really need is a program to assist you in achieving better result. Don’t worry because there are several programs that will support you and your financial obligations. These programs provide you with sound counsel on how you can focus on the things that you really need to do. Your plan should be practical and doable. Don’t set your goals too high; otherwise, you will not accomplish anything. Normally a debt management system runs for four to six years.

Negotiate And Bargain

You can also enlist the help of professional credit counselors who will teach you the value of managing your finance. They will assist you in restructuring your debt payments by combining all your monthly payments as one. They in

Ways to Eliminate Debt Faster

Refinance your debt

If you’re struggling with a large debt such as a mortgage or a student loan, it may be possible to refinance to take advantage of low interest rates. When your debt has a lower interest rate, you end up paying less in interest over time. Depending on the term you refinance over, your monthly required payment may even go down and give you some extra breathing room every month.

However, refinancing often comes with fees and closing costs, so it’s important to make sure that the money you save in interest is worth the cost of the process.

Take advantage of balance transfer cards

Credit card companies often attempt to lure in new customers by offering 0% financing for transfers from other cards. The promotional periods are generally short, but during that time, you pay no interest on your balance. That means that any money you pay towards your debt will go directly towards your principal. By using this hack, you can quickly knock down your debt while saving a lot of money each month in interest costs.

Using a balance transfer card can be dangerous. If you are not