Putting your career on hold to be a stay-at-home parent can be rewarding, but this decision may come with significant lifestyle and financial changes. It’s important to review your family’s spending patterns and to set goals when transitioning from two household incomes to one. Here are five tips for parents undergoing this change:
- Estimate your timeframe. Look into the future to decide if this change might be permanent and create your financial plans accordingly. If you plan to go back to work, establish the amount of time you expect to be at home and ensure that you’re still able to maintain your financial goals during this period. If there is a gap, you may want to explore other employment options like working part-time or contracting work. It’s also a good idea to stay in contact with your professional network in case you do decide – or need – to go back to work.
- Make sure you’re insured. Examine your spouse’s insurance benefits and make sure that you and your children are still adequately covered in the absence of your benefits. If possible, plan
There are many people around the world that are finding it tough financially. With the present state of the economy the stress of finances is enormous. Many people are looking for free financial tips so that they can get back on track financially. You may be interested in this article if you are looking for financial advice.
You will want to check the credentials of any financial adviser that you seek advice from, regardless of whether it’s free or paid advice. Although it is possible to have an advisor with good credentials give bad advice. You want an advisor that really looks at your personal situation and offers advice accordingly as advice that is good for one person may not be good for another.
It is advisable to talk to more than one financial advisor and then compare the different advice that you receive. You can get a number of different opinions and points of view and either combine some of the points or choose which advice will be suit your needs. It is best to find an advisor that is local but if you
The best bit of advice you can offer anyone going for a finance job interview is to be prepared. The time you put into preparation will have a direct relationship with how well you perform in the interview and how likely you are to get the job.
Firstly, find out as much about the company as you can in advance. The more you know about the potential employer the better. You can never know too much and it will help in two ways. You will show you are an observant individual with an outwardly looking understanding of the industry and the knowledge you have learnt will show you know what you are talking about. Secondly it will also show that you have researched the company. This time commitment of the research also shows how keen you are on the position. Any recruiter is always going to appreciate pro-active candidates who show that they are keen to get the job.
Think in advance what questions they are likely to ask. Many financial job interviews follow a similar pattern, so think ahead about what they might ask.
Debt is a serious problem for many people, no matter where they live. Some might be of the opinion that the money owed by debtors is balanced by the economic health of the creditors, so the economy will be just fine in the larger view. But debt does not quite work that way from the personal point of view. If an individual owes more than he or she can hope to repay, then no amount of macroeconomics will make him or her feel better.
The only “big picture” that may indicate how serious personal debt can be is the view that shows total debt rising in almost every country in the world. In some locations, the level of debt in the population is a very serious economic issue. Countries that have experienced a mind-boggling amount of debt include China, Japan, and the United States.
There Are Answers
While many chose to declare bankruptcy in the past because there were no other reasonable alternatives, today more individuals are choosing to work with a third party and their creditors to devise a debt agreement that will satisfy all parties. Selecting someone seems like a daunting task, but
Here are 4 tips to financial success and to start paving your way to a Happy New Year now:
1) Personal Shopping: Some folks are too busy to spend time at the traffic-jammed mall or they just hate it. Ask for their list, their price range and relieve them of this burden. Offer your personal shopping based on the time spent for shopping and gas costs.
3) Holiday Decorating: Another task that people hate. Focus on neighborhoods that favor extensive decorations. Those are the ones that tend to get into informal, decoration competitions. Your decorating can be indoor or out.
Go to the party stores and photograph design ideas. Create a sample portfolio to display. Buy in bulk and reduce costs. Include decoration removal. Many people are embarrassed when their holiday lights are still up on Valentine’s Day.
3) Become a Gift Wrapper and Mailer: Buy attractive holiday wrapping paper in bulk and add creative touches, like candy canes or mini-ornaments, to make the gifts irresistibly appealing. Box up some samples and photograph them. Show your prospects your designs and let them choose. Eliminate standing in line at the post office and ship packages
We last looked at financial planning ideas for people in their 20s and 30s. Here are some tips to help you make sure that you are on the right track in your 40s and 50s.
The later family years – 40s
In our 40s, things won’t change much. We still need to be aware of our spending. We should be avoiding and eliminating excessive debt, and maximizing our retirement savings. Reevaluate all financial strategies to make sure that they are still meeting the family’s needs.
Most of the financial concerns are still related to family, but the children are older. With college around the corner, college funding becomes an important matter.
Although I’ve had many teens get upset with me over my advice to their parents, please hear me out. You are still free to make whatever decision you choose. I always tell parents not to sacrifice their comfort in retirement in order to put their children through school.
I’ve heard several horror stories of parents refinancing their homes or foregoing retirement savings to pay for college, only to find out that their child is no longer interested in completing a degree.
The best financial consultants will always advice people seeking for their advice to start planning and saving for their retirement as soon as they have a stable job. As such, even if it’s your first time to work, even if you’re just in your early 20s, you should already have a retirement plan and you are already setting aside money monthly for your retirement fund.
Unfortunately, not all people heed this crucial advice. Many employees always find ways to postpone working on their retirement plan. And before they know it, it will only be 10 years before they have to retire. And usually, planning and preparing 10 years before your retirement is usually not enough for anyone to prepare sufficiently.
However, this doesn’t mean that you give up preparing for your golden years and simply wing it once you stop earning a fixed monthly income. Below are some helpful tips and pieces of advice for people who are near their retirement age so that they can still live comfortably in their golden years:
Prepare your cash reserves or emergency fund. Financial advisors say that you should have at least three to six months of your
The New Year is here, and it can be the best one ever for you financially! How do I know this? Simple, if you get on board, and put good financial management principles in place it will enable to get the best out of your money!
Christmas is finished and you probably spent lots of money during the festive season on gifts, eating and drinking and, partying! Now you need to lay down some financial guidelines for the New Year to ensure a financially successful 2012. So here are some money management tips for the New Year:
- Invest in your Financial Education. There is a saying that “the more you learn is the more you earn”. If you are going to acquire a new way of thinking about your finances then you are going to need to read and study more financial literature. There are numerous books on the market that you can purchase to help you increase your money management knowledge.
- Review your assets and liabilities. At the beginning of the year you need to identify your starting point. So review your assets as follows: a. the value of your house, b. the value
Investing is a complicated and challenging endeavor, and if you are new to investing you may not know where to go to for reliable investing advice and investing tips. Fortunately there are several resources that you can utilize to help find the best investment opportunities for you. First you can find an investment professional that has the experience and background needed to understand the various investment options, the risks involved, and who also is willing to listen to how you want to invest your money. The second resource that you can use to get investment tips is an independent financial advisor. These people have the expertise to provide a logical prediction about what investments will be good and which ones are too risky to invest in. The added benefit of dealing with an independent financial advisor is that they don’t make money off your investments so they will give you an honest opinion about all of the available options. Finally you can read through investment prospectuses of companies that you are interested in. This material will provide you with the information that you need to make an informed decision about a potential investment.
If you need financial
Being a new parent can put a lot of stress on your and because of that you want to make sure everything else in your life is set up and rolling smoothly. The first thing you need to understand about being a new parent is that you have to be prepared financially for even the most unexpected of events. Parenting means raising a child from newborn to graduation and then guiding them the rest of the way. Are you up to the challenge financially?
Start putting away money – The first thing you need to do as a parent is start putting away money right from the start. If you wait to long you will get accustomed to the life you live and therefore putting away money just won’t happen. Something that is always a smart thing to do is put away a certain amount each time you get a paycheck, doing this will ensure that you have some foundation to build on in the future.
Don’t spoil your child – Another tip that most people learn the hard way is to not spoil their child. If you are one of those people
If you are a young professional, looking for information on how you should manage your personal finances for you to reach your short- and long-term financial goals, then this article is made just for you. Below, we have enumerated four tips that can help you handle your financial resources in the best way possible.
Four Helpful Tips
- Live within your means. This tip involves making sure that your income covers all the expenses that you incur each month. To do this, you need to spend considerable amount of time going over the state of your personal finances – your monthly income, total expenses, as well as your disposable income. This activity is very important as it will lead towards the development of your personal budget.
In case you discover that you are spending more than what you actually earn, then you need to make important steps that will allow you to free up cash that you can allocate for more important purchases and bills that you have taken for granted for the past few months. In line with this, you need to identify which expenses are important and which are not. Then, resolve to cut
Many small business owners are driven by entrepreneurial inspiration to start their own companies. Small businesses drive new jobs and innovative ideas. However, for all the “pros” which accompany running your own business – the thrill of bringing a new idea to market, fulfilling a goal, flexible schedules – there are also challenges. Owning the business may be the simple part. Running it smoothly and profitably often can prove difficult. Following are five financial management tips that should assist in running your small business more effectively so that you can enjoy all the “pros” that influenced the decision to own a small business in the first place.
1 Develop a Budget – This is critical to the success of any business. A budget that lists your projected revenue and expenses serves as a road map in guiding business decisions and making sure you carefully consider financial decisions with the “big picture” in mind. When you create a budget, you can see the cash inflows and outflows. A budget functions as a financial barometer, allowing you to project accordingly, optimize and manage cash flow, as well as anticipate future financial needs.
2 Stay Abreast of Your Financials
Have you read every finance tip in the book but still struggle financially? If you are searching for some non-traditional financial wisdom outside of having a diverse portfolio, investing in digital currency or managing a budget then keep reading.
If you are still struggling financially it is likely that you have not consistently applied these three tips.
- Admit You Were Wrong.
At some point in your financial journey you’ve probably made some unwise decisions. Name them and say them out loud. How can you grow from these decisions if you don’t face them and take responsibility? Maybe it is your desire to travel more than your budget really allows which means that your social media is filled with pictures of fun and adventure but you can’t afford to fix your hot water heater. The list could go on.
While some financial binds are out of our control many of our money dilemmas are just negative effects of decisions we’ve made. If you are blaming someone or something for your financial situation you will never improve it.
- Say Thank You.
When is the last time you were thankful for your
If you are the kind of person that likes hot tips on anything, you will certainly enjoy the tax tips in this article as they will help you to reach the financial freedom that eludes so many people. Be forewarned that since tax laws are constantly changing, tax tips must also constantly change due to the never ending tax law changes that are handed down to us from our government. The reader is advised to check with their own tax professional to see how these tax tips affect their own situation. Very often, a simple recognition of a new law or loophole will allow you to pick some more dollars off of your money tree. Of course if you do not take advantage of the following tactics, then the “dollars” ripe for picking will be wasted and fall to the ground. Today’s tips include:
1) When you are deciding where to place your purchased securities such as in a taxable account versus a tax advantaged retirement account you need to be mindful of the current tax implications. For instance, Bond interest payments that you receive are taxed at ordinary income rates, up to 35%,which is usually higher
One of the greatest gifts of being an entrepreneur is the opportunity to flex your financial muscles. It’s also one of the greatest challenges for me personally. In fact, many entrepreneurs make the decision to start their own business because they have a certain skill or talent – or an idea for a product. They don’t know anything about the financial aspects of business – like payroll, budgeting, P&L statements, profitability, cash flow, taxes, etc. So what happens? We learn as we go! We rely on the experts. And we develop those financial muscles.
Many of the moms I work with are creative types – writers, photographers, caterers, artists, graphic designers, fitness trainers, dieticians, chiropractors, counselors… and the financial aspects of business don’t come naturally. Very few of them are “in the business of money.” Yet, all of them are in business for themselves. And if you’re a mom entrepreneur… if you own a business of any kind… no matter what your company is… no matter what service you provide or product you sell, as a business owner, it’s YOUR JOB to know about the money. And if there’s something you don’t know, your job is to
If you find yourself dealing with financial stress, it can be an exceptionally difficult time. However, you mustn’t let this stress take over your life. If the bills are piling up, there are steps you can take to reduce your stress and your debts. The most important thing to keep in mind when you’re faced with financial troubles is to make a plan and stick to it. If you need help with this plan, it would be in your best interest to seek out a financial planner.
Here are a few tips that can help you on your way to beating financial stress:
- Don’t spend money to relieve your financial stress. It’s often tempting to reduce stress by going out for meals, entertainment, and other activities. This is clearly counterproductive. Instead, use some free stress relievers such as a warm bath, a good book, or a social event with friends at home.
- Accept your situation. Being unwilling to accept that you’re dealing with a hard situation can increase your financial stress. In many financial scenarios, you’re unable to control the situation. However, once you surrender control and accept it, you’ll feel better knowing that you can only
You’re trying to not only keep food on the table, but also prevent foreclosure on your home and all those annoying phone calls from creditors and bill collectors. Well, it’s time to have a reality check and get off the living paycheck to paycheck train. There are ways to start saving money and some of the biggest saving can be made around the home.
By applying these tips, financial freedom is a possibility, you will soon start saving more and more money, and you will soon be living debt free.
Saving Money on Electricity.
- Unplug appliances you’re not using: Even if an appliance is turned off, it still uses a small amount of energy, if it’s plugged in.
- Insulate and weatherproof : Go overboard on the insulation in your house, Caulk and weatherstrip the cracks around your house. Put draught strips below all doors, if there are any gaps between the floor and door, even on internal doors.
- Use heavy curtains over your windows:In the winter, it will keep the warm air in, and in the summer it will keep the hot air out.
- Try not to use the clothes dryer: Line dry your laundry as much as
With a complicated and confusing economy, many people are looking for Christian financial advice that will help bring security in these insecure times. Whether you are just beginning your journey, wanting to rebuild after a crisis, or simply seeking advice for achieving a stronger financial future, there are basic principles that will always apply and, if followed, will bring success. Too often we want quick remedies when lasting prosperity comes from a strong and properly built foundation. True financial freedom is reached one step at a time and involves hard work, careful planning, and personal discipline.
“Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.” Proverbs 15:22
By following simple advice and smart money management tips, financial freedom is still possible, even in the most difficult and uncertain economies.
1.Build on Biblical Principles.
“My God shall supply all your needs according to his glorious riches in Christ Jesus.” Philipians 4:19
It is easy to place confidence in our own wisdom and success during times of prosperity, but when we face a crisis or encounter a threat to our future security, we begin to realize the true weakness of
Since the growth of social media sites online, financial services firms have started using Twitter as means to:
- Comment on valuable news stories
- Bring greater attention to press releases or websites
- Advertise key products, services and rates
- Respond to customers who comment about their firm
Customer service is probably the most intriguing, since it represents a new method for companies to communicate with customers.
Financial companies use Twitter as a strategy for answering consumer questions and address any complaints – even setting up calls with customer service to ensure the user’s issue is handled well. It is inspiring to see organizations find an important use for social media sites as it is expected that other firms will follow suit.
In addition to directly responding to follower questions, companies have been able to use their Twitter profile to highlight information regarding mergers and acquisitions.
Financial firms who are afraid to step into the social media waters approach it almost as an experiment. They load up their LinkedIn profile and communicate to their network often and also experimented with Twitter. however, they use social media platforms more as a personal tool than business promotion.
Many consultants find
One of the more sought after questions anytime you are thinking about college is, “What exactly is financial aid?”. One of the largest myths related to Higher education Financial Aid tends to be that finances funded via the Federal Government aren’t required to be repaid back. The idea is only to a certain extent true, given that Federal Financial Aid is made of four types of aid. It is essential that all eventual and present university students be aware of the variations.
- Loans -Must be re-paid
- Grants – Do not need to be re-paid
- Scholarships – Aren’t required to be re-paid
- Work-Study – Federal Work-Study amounts/hours dependent on your college
School loans, both the Subsidized and Unsubsidized happen to be credited funds with the assurance to pay off. An additional variety of Financial Aid is known as a PLUS loan. To be brief, PLUS loans happen to be federal loans which are commonly obtained by graduate or higher degree requesting scholars (i.e. Doctorate individuals). PLUS loans could even be taken out by parents or guardians of dependent undergraduate students (24 yrs. old or younger) to help cover school related expenses not originally covered by Financial Aid loans.