Personal Finance Tips For You by Nocita Carter
Personal Finance Tips for You includes twenty-four topics covering an array of areas. The author states in the introduction "it is important to know as much as you can about managing your personal finances in these economic times." Some of the areas covered are credit card traps, keeping on track to pay your bills, handling your checkbook, the price of gas, identity theft, catching up on retirement planning, what to do if you receive a lay off notice from your job, checking your credit report and talking about finances if you are planning to get married. These are just a few of the topics. There are many more.
The first topic covered is Don't Get Caught Up in The Credit Card Trap, Stop Yourself Before That Happens. This is a very important chapter for everyone to read because it is so easy for this to happen in tough economic times. The author offers several excellent tips to help anyone who has this problem. It is clearly explained why it is so important for you to pay down the credit card debt.
Another important topic covered is How Do I Keep On Track to Pay My Bills on Time. The author gives the reader some tips on creating a budget and keeping track of your income and expenditures.
How do you survive the high cost of gas? We all know, not long ago the price of gas kept soaring. The author gives us many tips on how to save money by doing some simple things like consolidating trips just to name one of the pointers. There are many tips mentioned that I never thought of myself.
How do you establish your credit if you are young and just starting out on a job? Nocita Carter tells you exactly how to go about doing this.
Do you think you can save any money by just saving your change? This is one of the tips made by the author. I can personally vouch for this one because each day when I purchase an item, I take the change and add it to an old coffee can. After a few months, it gets quite full. I am always surprised by the amount of money I saved from my loose change.
I could go on and on with each chapter because there are so many good points in this book but I think you get the message and would get more out of Personal Finance Tips for You if you purchase it and read it yourself.
There are several aspects of this book that I really liked. It is written in language that is very easy to understand. It is not like some of the other books on finance that require you to have a dictionary by your side as you read. The book is very organized. Each chapter starts with an introduction to explain the topic. Once that is done, the author lists several tips to help the reader accomplish these tasks. Nocita Carter has written this book in a manner that makes the reader feel like they have a personal finance expert right there beside them. Personal Finance Tips For You is recommended for any age. It will be a valuable tool for younger people who are starting their first job. On the other hand, one is never too old to find something they did not know in this book. After reading this book, I learned quite a few tips to help me with my finances. You will find this an excellent resource guide to keep by your side at all times.
Personal Finance – Tips For Taking Control of Your Money With Budgeting
Taking control over personal finance is one of life's most rewarding experiences. Regardless of how bad your financial situation is, there is always a solution. With a little financial soul searching and thorough review of finances you can slay the financial dragon that is causing you to live paycheck to paycheck.
The easiest way to take control of personal finance is to develop a household budget. The first step of budgeting involves making a list of income and expenses. Start by listing recurring expenses such as rent or home loan payments, car loan payments, utility expenses, insurance premiums, transportation costs such as gasoline, parking, bus or taxi fare, and groceries.
Next, create a list of household income. This can include employment wages, child support, alimony, income earned by a spouse, and other types of income earned on a regular basis. Make certain to tally up after-tax income to obtain a true picture of available funds. If expenses are more than total income it is time to make budget cuts or increase income.
The best thing about budgeting is it doesn't cost additional money. It is easy to create a simple budget with nothing more than a piece of paper and pencil. For most people, the hardest part of budgeting is sticking to the financial plan. One solution is to turn budgeting into a game and challenge yourself to see how much you can slash expenses.
Many people do not realize they can reduce monthly expenses by contacting various service providers. One easy way to reduce utility bills is to enroll in budget plans. Most utility providers offer monthly budget plans which allow customers to pay the same rate each month. Utility budget plans can be especially beneficial during winter and summer months when utilities can soar. Visit utility provider websites or call during business hours to enroll in budget plans.
Reducing the cost of cable TV and internet services might be as simple as picking up the phone or talking to an agent online. Before attempting to negotiate cable costs take time to research competitor pricing. Compare rates for packages similar to what you currently have and make note of each.
Contact your cable provider to let them know you can obtain the same package at a reduced rate through their competitor. Most cable companies offer discounts to new subscribers and those who purchase two or more services, such as phone, digital TV, and internet service. Reduced pricing typically extends for six to twelve months.
Cable providers are often willing to temporarily offer a reduced rate to retain your business. If they are unwilling to discount current services, consider switching to their competitor or reduce the services you purchase from your current provider.
One of the biggest expenses for families is the cost of groceries. If you aren't using manufacturer and in-store coupons, now is a good time to start. Grocery coupons are inserted in Sunday papers and savings can easily recoup the cost of paper delivery services.
Manufacturers oftentimes offer money-saving coupons via their websites. Others utilize Facebook fan pages to provide coupons and rebates. Several websites are dedicated to providing grocery coupons that can be printed from the comfort of home. While clipping coupons might sound dull and boring, they can add up to hundreds of dollars in savings each year.
The only way to gain control over your money is to be hyper-aware of where it is being spent. Start recording daily expenses on a piece of paper so you can easily determine which items are draining your bank account. Most people are unaware of how much money is spent on items they don't really need.
If personal finance is out of control and you rely on credit cards to get you through the month, consider credit counseling. Many credit counseling agencies use a sliding scale and charge fees according to income. Non-profit credit counselors can help people with low-income take control of finances and begin saving for the future.
Tips to Teaching Personal Finance
The current economy has motivated many to begin to provide their children practical financial literacy lessons. Teaching personal finance and raising money smart kids will help keep America strong.
James Truslow Adams, the man that coined the phrase "American Dream" in his book Epic of America, is quoted: "The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement."
Teaching personal finance and raising money smart kids give our children the ability to recognize and capitalize on opportunities which will help them in pursuit of their own personal American Dream. This "Dream" can be achieved with practical financial knowledge and through teaching personal finance our children's future will be much brighter.
Our children face an almost certain future of higher taxes, less services, and the elimination of the current social security & Medicare system. Read the reports from the Government Accountability Office and you will find that the SSI system will be bankrupt in 2037.
Although it is true that our children will face bigger economic challenges than we had to go through; however by teaching personal finance and raising money smart kids they will be able to achieve their own personal American Dream.
What is available for us to begin teaching personal finance to our kids? Schools' With all the requirements placed on testing (No Child Left Behind) and the disturbing fact that most schools aren't given the budget they need - this probably is not where most of our children will receive their financial training.
Parents - Most youth do rely on their parents as the primary source of their money knowledge; however, as the statistics clearly show, most parents do not possess the knowledge necessary to effectively teach their kids about money. They want money smart kids but most were not trained on how to begin teaching personal finance to their children.
There are financial literacy courses that are designed to help you raise money smart kids. Recent home-study financial literacy courses are now on the market and are designed to educate & entertain youth while instilling practical financial lessons. Some even have partnered with sport stars & celebrities to create a powerful draw so your children want check out what their favorite celebrity is doing and picking up money lessons along the way.
There have been several courses that are specifically designed to help parents to begin teaching personal finance. These courses walk parents through the basics of raising money smart kids and often the parents learn as much as the children.
Nonprofits - There are many nonprofits doing great work helping to spread the message of financial literacy and training our youth with practical money skills. Fortunately, financial literacy grant money and corporate sponsorship are empowering many nonprofits with the ability start teaching personal finance so the next generation the pickup the practical financial lessons we "learned the hard way".
Private Companies - There are companies that thrive in every type of economic environment and in an environment where a lot of people are going through tough circumstances, financial education companies stand to profit while helping people improve their financial situation.
Right now the financial literacy movement is expanding faster than ever at the grassroots level. People want to begin teaching personal finance to their children because they want money smart kids. We commend you on reading this article and looking for ways to empower youth with the financial literacy skills they need in the 'real world'
Through collaboration with parents, nonprofits, schools, teachers and business leaders - we can begin teaching personal finance and ensure we are raising money smart kids. Doing so will help these youth get the skills they need to live the American Dream.
Personal Finance Tips – How to Legally Never Pay Back 70% of Your Unsecured Debt
To be in loan trouble can be a big cause for anxiety. Your health could deteriorate and in a matter of time you could find yourself snapping at anyone who tries to make simple conversation with you. All his could happen out of sheer frustration in being over your head in debt.
The problem however could be solved easily. In fact it is easier than you think. It is natural to feel the walls are closing in when you are in debt but with if you had been given proper personal finance tips you would have found yourself almost debt-free.
The good news is provided you owe in excess of $10,000 to say a credit card company; you have the option of having to never pay back 70 percent of your unsecured debt.
A good example
In fact a credit card company would be a good example as they do not require collateral when they hand you over that coveted piece of plastic which can go on to make your life miserable. Although personal finance tips can prove to be beneficial, the thing to be remembered is that they are best taken if you happen to have pots of money.
Most credit card companies have made $10,000 the benchmark from which they would be willing to negotiate down interest rates. It is not exactly a hard and fast rule but the figure is generally followed by most card companies. It may sound strange, but the higher the amount you owe, the more willing they would be to bring down your interest rate to a less obscene level.
This is because with the recession, they cannot afford to lose even a cent from their customers so they are more than happy to retrieve anything they can. In fact, they would be quite happy to get back the principal but perhaps for the sake of it, they also insist on some interest as well.
The credit card companies have themselves to blame. They should have realized their abnormally high interest rates would mean many people would default on repayments. With the economy being what it is, the number of defaulters has turned into millions and that adds up to a considerable amount of money. Undoubtedly, this has a serious effect on the company bottom line.
It is doubtful even personal finance tips could have warned you of what lay ahead. Not even the best analysts could really predict this recession for sure.
Engagement Ring Purchase – Finance Tips
The moment a couple becomes engaged is usually one of the most emotional and special times of all, it can be compared to events such as getting married or having a child. Of course that if you want to make this moment as extraordinary as possible for your future bride, you know that the engagement ring plays the central role in this movie.
There are many different ways to obtain finance for the perfect ring. I assume that if you are reading this article, you are nowhere near rich. So exorbitant expenditures and millionaire bank accounts are out of the question. The average price for such gift ranges from $125 to $5000, depending of course on the carats, the choice on metal, the kind and quality of the stones, etc. This article focuses on finance possibilities for the ideal ring.
Save, My Friend, Save
You must be thinking this is some kind of joke. But it is not. Getting married is not a light decision. Not many people get married overnight. Most marriage proposals are planned with months of anticipation. So if you can plan a proposal, why not plan a monthly budget to save for the ring? It is nowhere near as difficult as it sounds. Only by cutting down on unnecessary expenditures and by saving at least 10% of your income, you will have a decent amount of money in a few months time. Here is an example, if you earn $3000 a month, and you decide to put aside let us say 15% of your salary, then in a six month period you will have saved $2700. Excellent!
Plastic Money To The Rescue!
Many soon-to-be grooms choose to pay for their fianc
Personal Training-Finance Tips in Exactly Three Words
Last fall, after years as a "do-it-yourselfer" in the area of fitness, I surprised myself and decided to hire a personal trainer, Laura Creagan of New England Endurance Training. No, I'm not a Hollywood starlet trying to get her pre-baby, red carpet-ready body back or an elite athlete trying to win Olympic gold. I'm not even trying to compete in, much less win, any races at the local, "age group" level.
I'm just someone who loves the same activities Laura loves - cycling, cross-country skiing, running, etc. Someone who gets a kick out of reaching new milestones in old favorite activities. Someone who loves getting out in the great outdoors for a couple/few hours of aerobic activity. Someone who values the resulting health benefits...
So why on earth would I need a personal trainer? The thing is: I like these activities so much so that I sometimes overdo it and end up injured. (So much for those health benefits!) Plus I've got a few new milestones in mind for next bike season.
So when I read an article about Laura describing how she'd excelled in a grueling winter triathlon in Austria, I couldn't help but think: "If she can perform at that level, she obviously knows something I don't. And I'd sure love to know whatever that is (sooner rather than later) without Googling and poring over books and distilling boatloads of information and using trial and error."
It took a few months before I could convince myself to take action - what with not being a starlet or star athlete - but I kept hearing the echo in my head of words I'd said to potential financial planning clients thinking about making the switch from do-it-yourselfers. "Yes, you might achieve your goals on your own, but getting one-on-one advice from someone who's been trained and is around this stuff all the time is likely to get you there sooner with fewer missteps."
So I finally decided to give it a try. And - no surprise - it turns out Laura does know plenty that I don't about training, but our work together has also taught me a lot of lessons about advisor/advisee relationships of all sorts, especially those I have with my clients. Not all of these lessons are new, nor are they rocket science. But my experience working with Laura has helped me to better understand them from the advisee's perspective, which I'm convinced will reflect benefits back in my practice.
In keeping with the fact that this is the third in a trilogy of articles of physical/fiscal fitness analogies ( see footnote for other two ), and to reuse a fun gimmick I recently ran across, those lessons... each in exactly 3 words.
1. It's not magic. There are no guarantees in personal training or personal finance, but if you stick to a plan based on time-tested principles, you'll get better results.
2. Goals dictate actions. Only do enough to reach your goal, no more, no less. Less isn't enough, and more could cause burnout or injury. (Remember, you can always up the ante with a new goal once the current one proves achievable.)
3. Trained eyes see. If there's a hole in your plan, the advisor can't help but notice cause/effect relationships that the advisee may not recognize. For example, just as having no emergency fund can lead to costly credit card debt in the personal finance realm, no strength training can lead to physical strain and injury.
4. Reach new heights. With the help of an advisor who has more insight into what's possible AND what needs to be done to achieve it, you can reach new heights, e.g. "You really think I can retire (complete the Assault on Mt. Mitchell ) this year?"
5. Reconsider discarded ideas. Just because you tried spinning (monitoring expenses) before and hated it doesn't necessarily mean it won't work this time. Getting creative with a new tool or technique, or finally seeing the power of the idea, may be just the thing that makes it click.
6. Apply technology judiciously. You can benefit greatly from using the technology that exists to measure heart rate (investment performance), but if you try to watch it 24/7, you'll probably get distracted from your goal, perhaps even crash.
7. Measure progress periodically. Monitoring your heart rate, power, and strength (net worth and cash flow) over time will tell where you are vs. your goal, allowing you and your advisor to adjust as necessary.
8. Accountability is good. We're all adults here. Still, having to 'fess up to having skipped an important workout (IRA contribution) sure is a great motivator.
9. Avoid boom/bust. Overtraining (living like a pauper) when you first start a plan is more likely to result in injury (binge spending) than in improved performance (a bigger nest egg).
10. Persist through setbacks. Reaching your fitness (financial) goals takes time, and you won't always make progress in a nice straight line. Instead of getting discouraged and abandoning your plan for the new hot shortcut you saw in "Get Fit (Rich) Kwik" magazine, check with your advisor. While you may need a course correction, it's possible a few words of encouragement will do the trick. (Thanks, Laura!)
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