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.
Creating a Financial Plan Yourself Isn’t Difficult
You don’t have to spend a lot of money to learn how to create a financial plan. Our tips will show how to do it for free.
A 2019 survey by a respected financial firm, revealed some interesting statistics. The survey pointed out that about 75% of individuals who had a financial plan in place paid their bills on time.
In contrast, about 35% without a plan paid their bills on time. In addition, about 65% who had a financial plan, set up an emergency fund to cover unexpected expenses. About 25% of those who had no plan, created an emergency fund for future unforeseen expenses.
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…
4 Things You Can Do To Learn How To Get Your Finances in Order
Are you familiar with financial phrases like credit score, retirement savings, debt retirement, or account balances? If so, that’s great, you’re well on your way to learn how to get your finances in order.
If these phrases tend to cause a bit of anxiety, you’re not alone. About 75 % of the current millennial generation feel as you do, according to the National Endowment for Financial Education. This organization was founded in 1972 and is a non-profit 501 (c) (3) foundation with its primary purpose being to help Americans improve the quality of their lives by educating them with basic programs that teach one to make sound financial decisions.
Do You Know How to Get Rid of Debt? – 10 Helpful Tips
Do you know anyone who is living a debt free life? Do you want to live without the stress of meeting loan obligations every month? Read on and see how to get rid of debt once and for all.
Debt-free individuals usually share the following ten similar characteristics that enables them to live below their means. There’s nothing here that is so highly technical that prevents anyone else from copying.
Start paying attention to details – As an example, if you don’t review your monthly credit card statement closely, there may be charges on there that shouldn’t be. Debt free individuals monitor their personal finances very carefully.
Each month, when all of those dreaded statements come in for your charges to those plastic cards in your wallet, your card issuer usually lets you know that you don’t need to payoff the balance. “Just pay this minimum payment”, they tell you, and before you know it, you have a high outstanding balance. Now you begin to wonder how to get rid of credit card debt.
Unfortunately, now it’s not so easy. For some individuals, there may have been a good reason why they only paid the minimum payment each month. Problems such as unforeseen medical cost, or the family car passed away, or even loss of a job.
But for many others, it was just poor cash management. They didn’t have View full post…
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
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