5 Tips for Couples to Manage Their Finances

5 Tips for Couples to Manage Their Finances

5 Tips for Couples to Manage Their Joint Financials

Financial issues often lead to frustrations when they are not organized well enough. When it comes to couples, it is even more important to have strict and tight administration, as it can slowly but steadily build up unwanted tension even in the best relationship. In this article, we gathered a few tips and tools that make our lives easier.

Tip #1 – Be open about it

Both members of the couple will join the relationship with some kind of history. One may have had an adventurous life, while the other may have had an eventful financial past. If you are open about your economic background from the beginning View full post…

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Creating an Emergency Fund

Creating an Emergency Fund

Creating an Emergency Fund for Difficult Times

We all have our own definition as to what an emergency is, but in this article, we’ll give you the true meaning of an emergency, and how to prepare for one. Creating an emergency fund is one of the most important steps to take.

There’s two things for sure about any emergency – they can hit you from anywhere, and they will always happen at the worst possible time. And, if you don’t have a cash buffer handy, you’re in for some hard times.

Does Covid-19 ring a bell? Those who set up an emergency fund are having an easier time meeting their living expenses than most others. This is a perfect example of how and why the need to create an emergency fund.

There’s no need to panic if View full post…

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5 Ways To Manage Your Money Better

5 Ways To Manage Your Money Better

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.

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House Hunting Fundamentals

House Hunting Fundamentals

House hunting? Use this handy checklist before you make the offer

(BPT) – House hunting can feel like an adventurous new chapter in your life. If you’re lucky enough to find the property that checks off all the “must have” boxes – appearance, size, price, location – it’s easy to fall in love.

Not so fast. Before making an offer on any property, it’s smart to take a deeper look at the overall structure and its systems, just to make sure warning signs of major and costly problems are not hiding in plain sight. If the house holds more issues than your budget (and drive to renovate) can handle, it might be best to walk away.

Of course, once the offer is accepted, it’s always a smart idea to hire a third-party home inspector to take an in-depth look at the property. In the meantime, one last pass-through with this checklist in hand can give you peace of mind about taking the next step.

Exterior: Walk around all four sides of the house, scanning it from ground to rooftop. Note the View full post…

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5 Managing Money Tips for Newlyweds

5 Managing Money Tips for Newlyweds

5 Managing Money Tips for Newlyweds

Getting married is still at the top of the list for being one of the most important decisions that we make. It’s amazing how those two words “I do” or “I will” can change our lives in very significant ways, especially in managing money.

In some states, marriage can change our financial picture whether we intended it to or not. There are a number of issues that newlyweds will need to discuss, but we’ll touch on the five that should be dealt with first. It’s very important that both spouses get on the same page as quickly as possible to avoid potential conflict.

File a Joint Account or Married Separate

The first important issue to discuss is the area of taxes. Usually this will focus on whether to file separate tax returns or to file jointly. Generally, filing jointly will result in lower overall taxes, however, this is not always the case. There are some situations where filing separate returns result in less taxes.

Some other caveats to consider. When filing jointly, both spouses are liable on the return. If, as an example, one of the spouses makes an error in reporting or not reporting income, both are View full post…

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4 Money Management Tips for Newlyweds

4 Money Management Tips for Newlyweds

Important money management tipsIf you think getting married is a tremendous emotional step, you would be correct. But, it’s also a major financial one too. Each one has their own individual goals and ways to handle money. We offer these money management tips in an attempt to get both spouses on the same page and frame of mind.

It’s best to discuss money management before marriage and decide on the method of handling the finances. Both long term and short term goals should be discussed. A lot of stress can be avoided later in marriage if these financial issues are taken care of early by View full post…

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How to Manage Money | Tips for College Grads

5 Tips for New College Grads on How to Manage Money

How to manage moneyThe 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.

These five important tips weren’t View full post…

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Alarming Student Loan Crisis

The Student Loan Crisis is Worse than We Realize

Student loan crisisRecent publicity comparing the increase in student loan debt to credit card and auto loan debt indicates how serious the problem really is. In 2017, outstanding student loan debt passed the $1.31 trillion dollar figure. That and the following facts and statistics will tell anyone that we have a student loan crisis.

The figures are bad enough, but how does all of that debt affect the students who must borrow to get a college education?

Over the past twenty years, approximately fifty percent of students who graduated with a bachelor’s degree, saw a tremendous increase in student loans. As an example, in 1994 the average student loan debt was slightly more than $10,000.00.

In 2017, the average more than tripled to $37,172.00. Does the word View full post…

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Money Management Software

3 Reasons Why You Should Be Using Money Management Software

Money management software is a big help in budgetingWe’ve found that many individuals have financial problems due to a lack of understanding in the best way to manage their money. Quite often, they make mistakes that prove to be quite costly, especially when it involves an increase in debt. Money management software can be a big help in many cases.

There are several reasons that these individuals get into financial distress.

    • Some don’t know how to control their spending due to credit card mis-use. They see items they want and charge it to a credit card. Before too long, the credit cards are maxed out and just paying the minimum balance is very difficult.

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Money Management Tips for College Students

6 Hot Money Management Tips for College Students

Money management tipsStarting college is one of those times when you had better learn about money management. In that regard, we are offering these basic money management tips to help guide you.

You’ll not only be meeting new friends, but experiencing that new freedom you dreamed about. In most cases, you’ll also discover that you now have a lot more financial responsibility…a lot more!

A study done by Sallie Mae discovered that more that 84% of new college students had one or more credit cards. The bad news is that many students were using these cards the wrong way. With an average balance in excess of $3,000.00, many were spending more than their income allowed.

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