Personal Finance

Minding your finances doesn’t have to stressful and overwhelming. There are many people right now that are worrying themselves right into the area of heart attacks because of money, or rather the lack of it. No one needs to let themselves get to this point when there are personal finance tips to follow that are simple and will leave you able to sleep at night.

The biggest tip to follow for your personal finances is to learn how to be frugal. This is especially true for those young people out there that are just stepping into the wig world of money. Don’t spend on unnecessary items. If you see something that you want, don’t spend to get it right then. Make yourself go home and think about it. Chances are you will end up making the decision not to buy it.

In addition to frugality, you should make a budget and live by it to the letter. Sit down and write out what you must pay each month to live, as far as rent and living expenses. Don’t add in things like a shopping trip with your friends at the mall each week or that little gift for yourself because you worked hard all week. These kinds of things are

Saving Money

Money Saving Tips – How to Manage Money

What should you do with your hard earned cash? There are many choices we face on a daily basis that can create confusion and can point us in in a different direction at any time. There are many things that we should and shouldn’t do with regards to our finances and how to manage money. Let’s go through some of the more important ways to start saving and put your money where it belongs.

  1. Understanding when you should stop

The issue most people face when knowing how to manage money is knowing when you should stop. This may be a somewhat vague statement but I’ll help clear that up. Understanding when you should stop can pertain to all kinds of different parts of your finances. You should know when to prevent buying things on each day, week or month and that all comes down to budgeting. You must understand when to stop investing in each part of your financial portfolio and start in another. You must understand when it is time to stop using the credit card and begin to buy with real money. These ‘stops’ are of vital importance to

How to Manage Money and Make it Grow

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The 12 Debts of Christmas Part One

Oh the weather outside is frightful

But the fire is so delightful

My credit card is maxed out so

Let it Grow! Let it Grow! Let it Grow!

Tis the Season for too much spending

And there’s just no comprehending

How will I pay my bills next year?

Let em Grow! Let em Grow! Let em Grow!

My debt is as deep as the snow

Oh what a terrible fright

And I know it will continue to grow

How will I sleep through the night?

Now the presents have all been given

To the poor house I have been driven

And my credit scores are way down low

Help it Grow! Help it Grow! Help it Grow!

Christmas is right around the bend and you have a couple things on your mind. How am I going to avoid dinner at the in-laws and how am I going to pay off my credit card this January? Over the next couple of weeks I will go through 12 ideas for holiday debt relief. Each one will teach you bit by bit how to manage money and create a debt

How to Manage Money

When I was young I always found it interesting how much my dad understood money and personal finances. Even up to today when he is getting closer to his long awaited retirement, he understands a great deal more than nearly every individual that I have met. My dad is still planning and evaluating his portfolio, continually changing and always adjusting. He always makes regular contributions to his retirement plan and never misses or is late with paying his bills. He knows how to manage money.

A little bit of me thinks that my interest in proper money management stems from his keen interest for it. When I was a child I would continually ask questions about his past. I asked him how he knew when to change certain investments from medium risk to highest risk and vise versa. Before the stock crash in 1987 he completely avoided a loss by adjusting his his entire investment portfolio a 5 months before everything went downhill. He did so in early 2000 and again before this most recent crash. When thousands of people lost half of their savings and forced to sell their homes he managed to protect his entire portfolio and eliminate his mortgage in 15 years.

Is it a fluke that my dad has always avoided losing close to nothing during these

How to Manage Money

If you are similar to everyone else you probably feel as though you could make more money and don’t know what to do with the money you have. The mega wealthy know how to manage money and are able to manage the lifestyle we all dream of. Here are a few helpful ways that you can turn your finances around and help you to be far more wealthy than you imagined.

Better Time Management at Work

There are ways to be smarter with how you spend your time at your job. Many of us relish the ‘water cooler meetings’ but is it the best use of your time? Probably not. Instead of talking about the most recent episode of 24, learn to be an expert on a certain part of your job, figure out something new, or find a way that will cut costs. The more you put into your job the more you will get from it. Make yourself stand out as the perfect person for any promotion or salary increase. If you’re truly motivated enough you might even discover yourself in your bosses chair.

Negotiate Your Salary

When most people begin a new job they are usually too scared to negotiate their salary and take whatever is offered. Statistics show that those that negotiated how much they

How to Manage Debt More Effectively

There are many people in today’s society that do not know how to manage their debt effectively. Because of this they are over run with debt repayments and can never seem to get on top of their finances. I want to show you how you can manage your debt more effectively so that you can begin on the road towards becoming rich.

Debt is a problem that is extremely prevalent in today’s society. Almost everyone knows someone who is overrun by extreme debt, and it is likely that you have some sort of debt that you could manage more effectively.

Debt is a complicated matter because often dealing with debt is an emotional problem, not just financial. If the way we managed our finances was purely logical then we wouldn’t be in debt in the first place. When managing debt we have to take our emotions into account. Often people are unable to follow a plan because emotionally it offers no reward.

The advice many financial planners give to people who are in a lot of debt is to consolidate their high interest debt into a low interest loan (such as a home loan). That way they only have one repayment to make and they can slowly but surely pay of their debt. The problem is they don’t take emotions

How to Manage Your Finance During Recession

Managing your finances is one of the most difficult jobs for any person. And when it comes to managing your finance during recession, you really need to take some helpful tips from a financial adviser. But this will also be a costly task as the financial adviser will also charge his fees. Here’s an outlook into the matter. As you proceed reading this article, you will be able to gather some important useful tips on how to manage your finance when you are falling into the lap of recession.

Before we start to discuss where and where not to utilize your available finance during recession, let’s get to know what a recession actually means. Reduction in an economy’s GDP or gross domestic product for a period of continuous three quarters is referred to as recession. However, NBER, National Bureau of Economic Research formally defines a recession as three consecutive quarters of falling real gross domestic product. Surviving during recession is not an easy task. Many people who were earlier making it from paycheck to paycheck are now held with no or little money. Generally, recession lasts for about 6 to 18 months. But this duration may somehow seem to be a longer one as people go on with lesser money in hand.

We present to you some helpful tips on how

8 Tips to Take Control of Your Finances

How to manage your finances is one of the important components of having a good life. Whether you have a smaller income or a better one, you will truly save yourself from a lot of worries and trouble if you know how to manage your finances well.

(1) Set priorities carefully plan your finances. Know your wants and your needs. Do not be confused with what you need and what you want. If you want to make big purchases like getting a home or a car, careful planning will be your key to make it a little easier.

(2) Make a budget. It is always helpful to make a guide on your spending for the next few months. Having a plan on spending is very much helpful for you to see how much you can afford to spend in a month. Make a list when you go to the grocery or when you go shopping and keep reminding yourself to stick to the list. Sticking to your budget today is definitely one good way of being free from financial worries later.

(3) Do not spend more than what you earn. Do not splurge on spending with your credit card if it is not clear where you will get payment for it the next month. Thinking about spending a lot today

False Sense of Financial Security

You are currently living the ‘American Dream’. Right now you are blissfully married, you have two kids, a dog, the nice home with a white picket fence, you drive an SUV and a station wagon and you are in debt. Your story is just like millions of other people out there. Okay, so your story isn’t exactly as I just described but its pretty similar. In fact the debt part is probably the only absolute truth. You are able to make all of your minimum monthly bills and are making ends meet – or so it seems. You’ve been drawn into the false sense of financial security and assume that you know how to manage money. The reality is you may be in too much debt. I’ve created a list of ten warning signs indicating that you might be in over your head.

  1. You have little to no savings
  2. You are only able to make the minimum payment on your credit cards and other bills
  3. You have been denied credit
  4. You use cash advances from your credit cards to pay other bills like heat and hydro
  5. Once in a while you’re late with your bill payments
  6. You keep buying things with your credit card adding to the balance
  7. You don’t even know how far in debt you are
  8. Your bank accounts are overdrawn and once in a while you

How To Manage Personal Finances

Knowing how to manage personal finances is the cornerstone of being able to successfully build wealth. Accordingly, how to manage personal finances has never been as crucial a subject as it is right now! It has been four years since the start of the “Great Recession” and the ensuing jobless recovery. The housing market remains depressed while home foreclosures and short sales continue at a distressing rate.

How Are You Doing?

If you were a true member of the “wealthy class” in America at the time of economic tsunami and not overly burdened with debt or other forms of exposure to financial loss, you are probably still relatively comfortable and perhaps even profiting from the current economic situation.

If you and yours resided within any level of the “Great American Middle Class”, the odds are better than even that you’re experiencing some degree of financial hardship. The economy has taken a long-term change for the worse, presenting you with the challenge to survive and overcome.

The weak financial foundations of an alarming number of Americans were exposed by the meltdown of “08-09”. Too many individuals/households, some with excellent incomes, were living on the bubble while not employing sound principles on how to manage personal finances.

Those who were experiencing the most financial distress may have also suffered

The Best Way to Make Sure Your Savings is Growing

When you are trying to set up a budget for your family or for yourself and you have debts, then you really have to know how managing finances can help you save more money and pay off your debts. There are many things you have to include in your budget and there are many ways you can go about making sure you are set when it comes to your budget. This is an important thing to understand because your finances are very important.

  1. Make sure you include all your expenses

Most people forget to include everything in their budget as far as their expenses and this is what throws them off when they end up having to pay for something that they did not budget for. You have to include yearly expenses and expenses that you don’t have to pay every month. This is very important to your budget.

  1. Always include some savings

Even if it is only a few dollars a week or month you need to include some savings when you are managing finances. This is very important to your overall budget and financial picture for the future. You may need this savings for something in the future that will be unexpected and without it you could be in a very bad financial spot. Savings can

How to Manage Money Eliminate Debt Step by Step

Is there a way to manage money and eliminate debt step by step? Perhaps if there were a absolute way we would all be doing it every day, week and month of the year. However, I have found several steps that can help and if you attempt to follow each as closely as you can you should be one step closer to eliminating your personal debt. You can begin tomorrow and it can change your life.

Step Number 1: Assess your current financial situation.

Are you currently in the red or black? Do you use your credit card to manage your money and daily expenses? This may be a definite indication that you are in a state of financial trouble. There is a free tool at my blog that may help quantify your current situation.

The Second Step: Analyze your spending habits.

Look at your weekly and monthly spending habits. Do you find that many of your purchases don’t need to be made? When discussing spending, there really is no ‘grey’ area. Some things we all need to purchase and there are items that we don’t. You might have to re-learn how to manage money if you discover that half of the cash you spend is on eating out, entertainment, fancy clothes, alcohol etc. Try this next step.