10 Personal Money Management Concepts High Schools Should Teach
Personal money management topics are highly neglected in the school system and I believe this is something we all should be very concerned about. Our children grow up with virtually no concept of personal money management, the importance of money, or what to do with it when they have it.
It’s a mistake to rely only on parents to teach their children these things because many parents don’t practice good personal money management themselves. It’s a vicious cycle and it needs to be broken.
How to break through the financial conversation barriers with your partner
(BPT) – For most people, personal finances are a private matter. When you are in a relationship, it can be difficult to discuss this typically taboo subject of a financial conversation. Whether you have been married for years or are just beginning to date, fear of your partner judging your financial choices (big or small) runs deep.
Money challenges can create stress and cause walls to form in a relationship. Financial conflicts have even worse repercussions. Tackling the topic head-on can lead to a deeper understanding of each other’s financial history, emotions and goals for the future.
In fact, talking about personal finance, while not a particularly romantic topic of conversation, builds intimacy in any relationship, according to View full post…
5 tips for financing your next DIY home improvement project
(BPT) – Whether it’s transforming a fixer-upper into your dream home or just giving a makeover to your kitchen or bathroom, DIY home improvement projects are on the minds of many new homeowners across the country.
While many things about renovating your home are flexible, your budget might not be. In general, not a single floor-board is laid, or a new countertop installed without money, which is why every home renovation project should begin with careful financial planning.
To help homeowners with their renovation projects, Marcus by Goldman Sachs(R) is working with home renovation expert, JoJo Fletcher, to share her budget-friendly home renovation tips.
“Think about small changes you can make if you don’t have the time to take on a big project right now, like freshening up any kitchen by refinishing your cabinets with a bright white coat of paint,” said JoJo Fletcher, ambassador for Marcus by Goldman Sachs(R). “When it comes to financing View full post…
5 Ways to Manage Your Money Better & Take Charge of Your Finances
Do you put off making changes to better manage your money? If you have financial fears, does the prospect of financial planning seem next to impossible? If so, you’re not alone. Almost one half of Americans find this scary, and it doesn’t have to be.
There’s no need to postpone a much-needed review of your financial situation any longer. Getting your finances back on track and knowing where your hard-earned money is going, is not that difficult. Over 80% of Americans say that they would like to be in better control of their finances.
For that reason, we offer a simple checklist of five options that you can review to fit your specific personal circumstances. By following them, you will be well on your way to being able to manage your money better.
First and foremost, get rid of credit card debt. Many individuals are carrying several credit cards with high balances with high fees and very high interest rates. Many are only able to pay the minimum payments required, and in doing so, will be paying on those cards into old age.
Healthcare hints: save on healthcare with 5 savings tips for budget-conscious consumers
(BPT) – As Americans work hard to meet all the obligations that come with work, family and everyday life, many are challenged to find time to manage all the financial elements affecting their healthcare.
If you’re among them you’re far from alone, since the multiple details associated with healthcare insurance can be confusing. At the same time, you want to be smart about your financial resources when making decisions about the quality healthcare you and your family need.
Fortunately, by carving out time to research money-saving tips you may be able to minimize your out-of-pocket healthcare expenses. Such out-of-pocket spending rose by more than 50 percent between 2010 and 2017, The Atlantic recently reported, partly because half of all health insurance policyholders in the U.S. are dealing with annual deductibles of at least $1,000.
Whether you’re uninsured or simply facing a high insurance deductible, you can save on healthcare by taking several steps to better manage your healthcare budget. Consider how the following tips may offer you a better sense of control of rising View full post…
Retirement planning is usually difficult for a variety of reasons. Some say its equivalent to rolling the dice because retirement may be decades away and you’re forced to make spending assumptions now.
What makes it worse is that if your guess is too far off, it can make a happy and comfortable retirement into one that is a nightmare.
Once you’re already in retirement, it can be very difficult to recover financially if some unforeseen large expense occurs. Some retirees try to find a job to supplement their income, but many others cannot. Either they’re not able physically, or the job market may be cold.
The following categories where un-planned spending generally occurs creates problems for some and blows their budget out the window. View full post…
Posted: July 30, 2018 Under: Retirement By: Gust Lenglet
Most of us have asked ourselves that question on numerous occasions, sometimes in disbelief. We never dreamed that it would be possible, until we look at our credit card balances that have been slowly increasing. Would living on a budget prevent that?
Usually, overspending is not a conscious effort. It could start with something as simple as meeting friends on the way to work for a latte. Your cash is spent so you just charge the drink, no big deal.
A couple of times during the week, the same friends suggest that you have dinner with them. You are shocked when the credit card bill arrives and you add up those unplanned charges that total $320.00.
You didn’t realize how easy it was to overspend without being aware of it. Now how do you tell your friends that you can’t View full post…
Posted: August 11, 2017 Under: Budgeting By: Gust Lenglet
5 Tips for New College Grads on How to Manage Money
The big day has finally arrived and now you are about to see what the real world has in store. One thing for sure, you’re about to assume a lot of responsibility. Some of you who haven’t yet found a job will probably move back in with your parents. Others who have already entered the workforce may have moved into your first apartment. Either way, you’re about to get your first taste of learning how to manage money.
If you were asked to think back through your own life, and name the one item that topped the list of money management tips, what would it be? We would get many different answers on that question, but the one that tops the list, is create an emergency fund.
Many individuals ask why? There are so many “emergencies” in life that can happen. An unexpected root canal, extensive car repairs, a home large appliance dies, or even worse, you could lose your job. If you don’t have the cash to cover these items, many look to a credit card or even a personal loan, to cover it.
Debt Free Living Doesn’t Have to Be Hard – Read These 9 Tips
The economy in the United States for the past several years, has shown no sign of improvement. In addition to that, American families have been in a buy now, pay later habit. If we want to experience debt free living, some drastic changes in our spending habits need to be in made.
Many of us spend more than we earn, and have no hesitation in taking out a credit card when we see some item that we want. Overall debt is on the increase and many contemplate bankruptcy to get out of their financial difficulty.
So many others live on the financial edge and barely exist from paycheck to paycheck, letting credit card debt fill in the gaps. Folks, this insanity must come to a screeching halt. If we want to stop this perpetual wallowing in debt, and enjoy a debt free living life style, then we have to do a serious assessment of our financial habits.
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