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Ten Financial Tips You Want Your Kids to Know

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Most people learn about finance the hard way through mistakes made from practical experience.  People usually aren’t taught about personal finance in school.  Moreover, parents don’t teach their children the basics either because they don’t understand it themselves, or they don’t take the time to it. So, most of us learn about money as we go through life.  We make purchases, go into debt, and end up with a meager retirement account.  CNN Money reports that 43% of workers surveyed in 2010 said that they have less than $10,000 saved for retirement.  Even with full Social Security benefits, these people will be hard pressed to maintain their pre-retirement lifestyle.  What if they had made better financial decisions earlier in their life?  Perhaps if they were told about some basic financial principles they would be in a better position?  Here are ten basic financial principles that your kids should know to avoid making simple mistakes:

Don’t spend beyond your means.  This is such a basic principle that it would not seem to be worth mentioning; however, it is the key principle to financial success.  Most financial advisors will tell you to pay yourself first

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7 Tips on Financial Planning for the Family

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Effective family financial planning is essential to have so that we do not have problems later in life or in times when our financial need exists due to certain reasons. The steps in effective financial planning can be broken into;

1. Incoming and Outgoing Expenses

We will find the financial affairs of the family becomes much easier if we can manage all the income sources and expenses in the family. For example, we need to know how many family members that are on a monthly salary, the overall family expenses ranging from mortgage and car payments, water bills, electricity, telephone, and children’s school expenses.

2. Provide Family Financial Goals

One of the most important measures to move towards financial stability is to determine our needs. In this regard, it will be helpful to determine exactly what we need in life as individuals, couple and families. These financial goals may require short-term and long term goals. However, these goals must be something in the range that we can afford, for example something that we possess within the time frame we have set.

3. Prepare Budget and Estimate Cash Flow

In reality, financial planning becomes more difficult to manage

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Helpful Financial Tips for New Parents

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It is the most exciting time in your life when you have a new child in the family. This time is also the start of an expensive journey. You can easily spend $250,000 or more raising your child until they turn 18. You need to make smart financial choices from the very beginning to ensure financial stability for your family.

Create a Budget

You need to create a household budget. Before your baby is born, determine how much you will need to spend each month on diapers, baby food and related expenses. Add a few extra dollars each month to your estimate since babies have a lot of needs. Include your estimated expenses into your budget.

As you are creating your budget, determine if there are any expenses you can cut out. Perhaps you can give up that daily coffee or settle for a cell phone plan with less frills. Now is the time to cut down on some of your unnecessary expenses. Once you create your budget, do everything you can to stick with it!

Pay Down on Debt

If you are planning to start a family in the near future, you should start to pay

Financial Tips Before Divorce

Divorce is not a fun process, but sometimes a necessary one. To some, thinking of money concerns after divorce are obvious, to others a small worry, and to many not even considered. This article can help you plan financially before your divorce begins.

Before Divorce
Unfortunately, though it’s legally required, child support is paid about half the time, and half of that is full payment. You or your spouse need to understand the children come first, no matter the reasons for the divorce. If you have custody of the children, come to an agreement with your spouse. If you are paying the child support, make sure it’s paid in full.

Now, before you start breaking away from your spouse, you should also be aware of your property rights. Just like child support, it’s not always considered. If you ignore the division of property, it can cost you a lot of money and assets you have rights to. Because state laws are different on how to handle the division of property, you should contact an attorney.

Here’s another important financial tip: you have more than property – you also have credit cards and bank accounts. Close all your joint accounts, get your own checking

How to Make the Law Work For Your Credit Repair Situation

Are you surprised to discover that there are legal provisions relating to credit repair? Well, credit bureaus and credit reference organizations perform a very important function in the economy today. Hence, it is obvious that these entities shall be regulated properly.

Hence, always search for bad credit tips that will help you know more about the law and how you can use the law to improve your credit rating as early as possible. A very useful bad credit tip is to go through the various laws. You can easily get a copy of the act on the World Wide Web.

There are four laws in all that relate to credit and credit repair solutions. The fair credit reporting act places a responsibility on the credit bureaus to report the information accurately. This is a very important law that helps you overcome negative points very easily. The law places the responsibility of verifying the information on the credit bureaus.

If the bureaus and the lenders are not in a position to justify the inclusion of a particular point, it must be removed. This means that mere destruction of records or even the bankruptcy of the lender is sufficient justification to remove the information.

Raise Your Credit in a Month by Following These 3 Tips

Are you of the opinion that bringing your debts under control or making repayments regularly will boost your credit score only after years? Definitely not. This is one of the most significant parameter that is used to determine your credit score.

Hence, if you are in a position to repay your debts on time, it will certainly have a huge impact on your credit score. Hence, make sure you keep this bad credit tip in mind at all times. Regular repayment of debt and keeping the total debt amount under control-these two tips will help you a lot.

Simultaneously, you should get a copy of your credit report and go through the same. This is where most of us make the mistake of ignoring professional advice. Just as you would contact a tax professional for any notice received from the internal revenue service, you should contact a professional credit repair experts for any information that you have received from the credit bureaus.

The credit report, once studied, should clearly point out the various areas where disputes can be raised. This is an important point because disputed items shall be removed in a span of a month and this will boost your credit

Simple Credit Tips For Students

There is no question that having a good credit record is more significant these days than ever before. We may be aware of it or not, but the truth is that most of the financial aspects in our lives are very much dependent on our credit scores. As students in need of taking student loans, there are several credit tips for students that will make it easier to maintain a clear credit background.

-Open checking or savings accounts.

If you wish to start a credit record the right way, it is best to initially have your own checking or savings account. This will prove to be very beneficial and useful in the end. You then had better get yourself a student credit card. But make no mistake about it; you are not supposed to use your credit card to enjoy spending. You will be using your credit card only on things that are necessary. One of the best credit tips for students that you will find everywhere is to let your credit value and reliability increase through the help of the transactions you make every day.

-Never get multiple credit cards.

You are a student and you should realize the fact that there

Financial Tips Before Buying a New Home

Tax breaks and having a tangible investment are only some of the incentives attributed to purchasing your own home. There are plenty of reasons to choose buying a new home over renting. After you’ve decided that buying a new home is the right plan for your life, here are some things to consider before launching this grand investment.

Whether or not you can afford a house is an important factor to consider. Several first time home buyers must take into account how much of a down payment can be made on the house as well as how much of a loan he or she can be approved for. This applies to you as well as it is an extremely common conundrum. Your investment in a home should never exceed 28% of your annual income, and this investment doesn’t just include the house itself. This also includes property taxes, insurance, mortgage payments, agency costs, etc. That being said, you should really evaluate your financial situation before signing any sort of contract when buying a new home.

Coinciding with an evaluation of your finances is an assessment of your overall debts before buying a new home. Eliminating credit card debt, paying off that new

7 Tips To Save Money on Marketing a Business

The most effective marketing methods such as advertising in newspapers, popular magazines, on TV are very expensive for small businesses, especially for most start-ups.

Thanks to Internet, in the recent years, some very powerful, and cost-effective, even free marketing strategies have become popular.

Here are some tips to help you save money on marketing your business without sacrificing quality or results. In fact, some of them are very affective to boost your business cost effectively and fast. Implement them repeatedly and save a lot of money and time while attracting hundreds of thousands of more visitors to your website.

1. Link Exchanges

To exchange links with other Web sites is the most popular marketing strategy used by travel and tourism related businesses. Link exchanges help increase link popularity, and the chances to get higher search engine placements and ranks.

In addition, you will have higher chances to be seen by more surfers, to attract more visitors to your Web site, which will highly increase your sales, and return on investment (ROI).

To find the Web sites which are willing to reciprocate links, without the risk of spamming anyone, go to a major search engine such as Yahoo!, Google, MSN, and write in the search bar,

7 Tips For Saving Money

Everyone makes bad financial decisions from time to time, and a little help with saving money is always of good use. For example, a visit to the mall to buy one inexpensive item might turn into an unscheduled shopping spree. A plan to buy some small gadget can become a home technology makeover. Applying some frugal spending tips will help curb such money wasting impulses and help form new money saving habits.

Don’t shop on payday. A freshly cashed check can start burning holes in pockets before money for the monthly bills and savings has been safely put away. Just because payday produces a large amount of cash, that doesn’t mean that it should be spent in just any way. An uncontrolled day of shopping on payday may result in unpaid bills at the end of the month.

Don’t shop for groceries when you’re hungry. Buying food on an empty stomach is guaranteed to produce unnecessary spending; it’s an undeniable fact. Despite a well organized budget and a shopping list, hunger can take over and make you buy things you never normally would. Purchasing fast food on the way home from the store to squelch your hunger is another money trap.

Visit thrift

9 Top Tips to Saving Money and Clearing Your Debts Fast

Take Control Of Your Finances

1) Calculate, Calculate, Calculate!

The first step is to know exactly what its you owe and who you owe the money to. Be as open about it as you can otherwise there will be even more pain later. Your debt should not account for more than 20% of you monthly income. If it is, you are entering the danger zone and MUST take immediate steps to cut back.

2) Budget

Once you calculate exactly how much you owe you can devise a budget, including a schedule for repaying your debts. Be realistic and calculate what you can afford to repay and still stay within your budget.

3) Discipline

Don’t borrow any more money or take on any more debts until you have repaid what you already owe.

4) Daily Spending Control

Give your card to a trusted friend of family member (don’t include the PIN!) for safe-keeping. That will reduce any spontaneous spending splurges. Take a fixed amount of money out of the bank at the beginning of the week so you can only spend what you have.

5) Organize Bills

If you haven’t done so already, make sure you are paying all your utility bills by direct debit. It’s much easier to manage

3 Tips On Saving Money On Your Auto Insurance

Many people ask me how they can save money on their auto insurance. Lets face it, its a necessary expense that we all would love pay as little as possible on. What I want to do in this article is offer you just a few tips on saving money on your auto insurance.

Before I go into this I want to help you have a realistic view on what you are looking at. Your insurance premiums are definitely going to be influenced simply by who you are. For example all insurance companies look into certain things such as your age, sex, and definitely your driving record. If you are a male under 25 years of age your premiums are always going to be higher than female who is over 30 unless her driving record is terrible. Now that we got that out of the way, here are 3 tips to lowering your insurance premiums.

The first way is a way that I’m going to suggest is simply raising your deductible. This option is better for some drivers than others. For example if you are a person who can afford to pay a $1000 deductible and you are a fairly safe driver, why

Mortgage Loan Tips

Finding the right mortgage loan when purchasing a house can be very hard and frustrating. Especially, if it is your first time of taking a loan. Buying a house and taking a mortgage loan on the house is a big step for you since it involves a lot of risk. You probably don’t know what to do or where to go. Do not allow other people take advantage of you ignorance. Take the time to learn everything there is to know about mortgage loans. Here are some mortgage loan tips to guide you on what to do.

The very first step you need to take is to shop around for lending companies offering mortgage loans. You can do research in the internet or personally talk to people who are experts in the field. Check out not only three but more than six lending companies and get estimates or quotes from each company to be able to compare. Then as you get to know each company inquire about their interest rates both in fixed and adjustable, fees and services being offered. With all the needed information at hand you can now compare one company to another. Then it would be easier for

Free Money Saving Auto and Home Loan Tips

Free Auto Loan Tips

The following tips should help increase your chances of getting a car loan at a better rate.

Tip #1 – If you just started a job (recently graduated from college) then wait 6 months to apply for your car loan.

Tip #2 – If you have currently have bad credit then repair it before applying for an auto loan.

Tip #3 – If you’ve recently moved then wait until you have lived at your new address for 6 months before applying for a loan.

Tips #4 – If you have had a previous auto loan or home mortgage on your credit report then your chances for a new loan improve greatly.

Tip #5 – Try and pay off all of your credit card balances or at least lower them. You may want to consider finding the best debt consolidation loans to erase all of your credit card bills. The bottom line is don’t keep a high debt load or credit card balances.

Tip #6 – You must have a stable job or occupation.

Tip #7 – Other examples of credit extended to you should appear on your credit report. Verify this with a quick and easy online credit report. Also avoid charge off’s

Student Loan Tips For Graduates

Congratulations on earning your degree and graduating! Having a degree and being done with school is exciting and a big step in starting the life you want. But, now you get to pay off thousands of dollars in student loans. Not sure what to do? Here are some tips and things to keep in mind.

-Don’t stop applying for full-time jobs in the field of your degree

-If you can’t get a full-time job try freelance work or any entry-level position for some income

-Move in with friends or family to save money

-Always make your student loan payments on time

-Never forget student loans affect your credit

-Credit may not be important to you now, but it will in the future

-You can continue your education to defer loan payments

-If you have multiple loans look into consolidating them

-If monthly loan payments are too much, look into extending the life of your loan

-If you are going through a financially difficult time, see if you qualify for a loan deferment

-Volunteering for AmeriCorps or Peace Corps can lessen your loans

-Teaching or offering doctor or lawyer services in low income communities can get you loan forgiveness

At some point you will have to pay off your student loans. However, these

4 Payday Loan Tips to Consider Before Applying

Payday Loans – 4 Reasons to Rethink

Payday loans are a type of short term loan that you can use to quickly get cash until your next paycheck. They are easy to get and generally online require proof of employment and a checking account. Basically you will write the company a postdated check that won’t be deposited until after you get paid again. This type of loan doesn’t even require a credit check.

Personal loans are convenient, but they aren’t the right solution for every problem. They are expensive and generally charge high fees and interest. These loans can have APRs as high as 500% if you aren’t careful. They are only a temporary solution and should be used with care and discretion. A payday loan may be right for your situation, but it might not be. Keep reading for five reasons why a payday loan might not be worth the risk.

Loans Are Expensive

One of the biggest risks associated with a payday loan is the expense. When you go in for a loan you will write a check that the company will cash at a later date. If you receive $100 you will generally have to write the check for at least

Tips on How to Save Or Spend That Hard Earned Cash Wisely

Planning your expenses is an important thing which you will need to do if you would like to have a certain level of savings or even want to invest minimally in order to get a decent income flowing when you wish to retire. What this article aims to do is provide some easy tips which you can immediately carry out in order to control and at least help you curb your expenditure and spend wisely. I will describe this in two phases. The first is what I would call structural methods. In this section, I will describe to you some methods you can use to at least implement a system into your personal finances so that you will have some form of financial plan for any period of time in place. The second is what I shall call personal methods. These are methods and habits which you can carry out for your everyday life. Believe me, these will at least improve how you plan your finances.

1) STRUCTURAL

a) Budget your finances, Monthly, Weekly and Daily.

Yes, the first thing that will come out of the lips of everyone when they talk about personal financial planning is always creating a budget. And

Two Tips To Start Taking Control Of Your Personal Finances

Don’t think you are the one to blame if you have a limited knowledge about your finances. The majority of Americans are not too savvy on finances. The reason is because basic personal finances classes are not offered on any level of education. Nor in schools, high schools, nor even in the top colleges and graduate schools.

There are common mistakes people keep making one time after another such as not planning their spending, not doing a proper due diligence and investigation before making any important financial decision, falling for any hyped financial product an smart salesperson is offering, etc.

We all have heard or read about the consequences of bad given financial advice, and believe it or not, a lot of the errors people make are committed when they seek for financial advice in the first place. This is because a good number of financial counselors are filled with biased information for their own benefit.

I’ve seen too many times the only financial advice given is to invest. But the correct approach must help you define your goals and discover your problems so you can link them to the rest of your life. All aspects of your financial life such as

How a Personal Finance Budget Will Save Your Financial Life

A personal finance budget is extremely important when it comes to your finances. Having a budget will allow you to manage your investments, your savings, and handle all of your bills in an effective manner.

Start the process by writing out all of your expenses. Then track your spending for at least a month, this includes not just your bills but your savings as well.

At the end of the month use the list of your expenses to categorize them either as needs or as wants. Please understand the basic difference here. A need is essential to your survival like food, shelter, clothes, heat. (it’s unlikely that you would survive for long without food, heat or shelter so money allocated to rent, work clothes, heating oil, are needs-you can extend this to things like transportation as you would not be able to get to work to earn income otherwise (unless you telecommute of course).

A want consists of something not absolutely necessary, but that you desire. Examples would be an iPhone, a gym membership or a pedicure, which you do not need to survive.

Then take a look at your wants list and eliminate the most superfluous. Of what’s left, if there is anything

Four Tips to Effectively Manage Your Personal Finances

If you are looking for information that can help you manage your personal finances responsibly, then you have found the right article. In the remainder of this piece, we have enumerated and discussed five tips guaranteed to help consumers like you to succeed in their quest to handle their respective financial resources in the best way they can.

Helpful Tips for Consumers

• Come up and stick to a personal budget. We encourage all our readers to come up with a personal budget. This tool will not only help you manage your personal finances in the most responsible way you can. It can also help curb overspending, which is the main reason why a lot of consumers today have huge financial obligations and severely damaged credit profiles.

To do this tip, you need to take your time examining your income as well as your monthly expenses. Consider what percentage of your income goes to your expenses and how much money goes to your savings account. If you think that you need to reduce your expenses for the month so that you can save more, then list down all the items that you have spent cash on for the past months. Then, think