There are many financial lessons that you should know by heart. But unfortunately, most people don’t learn them until they have to deal with the consequences of not understanding them. So here are some important lessons and how to avoid making the same mistakes as others who didn’t heed these warnings ahead of time. You Need to Live Within Your Means You can’t afford to know how much money you have because that will result in confusion and stress for all involved. In turn, you will end up struggling since you are not tracking nor living within your means. Therefore, even if you are filing bankruptcy, keeping accounting records for…
The Best Financial Decisions You Can Take This Year
The pandemic hit personal finances hard as countless Americans had to bear the brunt of pay cuts. Job losses were rampant too, and people had to make some tough choices to survive. Even as things get better, there is a widespread fear of looming recession. You have more financial decisions to take this year to stay safe and prepare for a stable future. The choices could be challenging, but they can keep you afloat in a crisis. Let us list the ones you should consider sooner rather than later. Create a debt-clearance plan You may have accumulated debts on credit cards and loans over the last year. While borrowing offers…
A Guide For Avoiding Financial Troubles
Getting into financial trouble is not ideal. It can hinder your confidence, quality of life, and put a lot of pressure on your money situation. Avoiding financial trouble is more straightforward than you might think. With the right knowledge, you can work on improving your financial stability and avoiding financial troubles. On that note, use this guide for how to avoid financial troubles. If you are in debt, get legal help to get you out of it First things first, if you are in debt, you will want to get out of it as soon as possible. This is the number one step to attaining better financial security and stability.…
How to Take Control of Your Finances Once and For All
Life can be very stressful at times especially in the world we are living in. the last year and a half has been a game changer with the ongoing Covid-19 pandemic. Anytime you are dealing with your health, that adds even more stress to your life. If you’re a parent, that’s even more stressful seeing that the kids have started back to the school. If you don’t have control of your finances, this will add even more stress to your life. It has been reported that a whopping 80% of Americans are caught up in a chain of debt. Once upon a time, my family would be included in the…
Could Your Passions Pave The Way For A New Career Path?
They say that if you find a job you love, you’ll never work a day in your life. The past year has got many of us thinking about what we want to do in the future. While many people have had to change careers or get a new job as a result of unemployment or temporary loss of income, others have been inspired to think about making a change to enjoy better job satisfaction and a healthier work-life balance. If you’re considering taking a new path, could your passions and hobbies pave the way for a career change? In this guide, we’ll explore some steps to take to turn an…
Self-Directed IRAs: Save Smartly With Alternative Investments
Many well-informed retirement savers are increasingly turning to self-directed IRA (SDIRA) to seek higher returns and allow more diversification in their investment portfolio. This is because SDIRA allows investors to own assets beyond the traditional options – CDs, mutual funds, ETFs, and stocks. By investing in alternative assets, risk-willing investors can potentially earn higher returns and build a significant wealth at retirement. 1. What Is a Self-Directed IRA? A self-directed IRA is an IRA type similar to traditional or Roth IRA, having the same contribution limits and allowing you to save for retirement on a tax-advantaged basis. However, the difference between self-directed and other IRAs is the freedom to expand…
Worried About Your Finances? 13 Things To Give You Peace of Mind!
Most people worry about their finances at some point. Unfortunately, we don’t always learn how to manage our finances appropriately, and it’s all too easy to go a little bit wild when we first start making our own money (which can be a tough habit to get out of). Let’s take a look at 13 things that could potentially give you peace of mind if you’re worried about your finances. 1. Use Cashback Sites Whenever You Shop Online Most of us shop online, especially now we’re in the midst of a pandemic. Online shopping can be quicker, easier, and safer than shopping in person and it also gives us the…
4 Things To Do Before Buying A Home
Are you buying a home in the near future? If so, consider these 4 things to do before buying a home. This will help you get ready for the home buying process + help you make a smart decision when it comes to your home purchase. Know Where You Want to Buy First of all, you have to figure out exactly what you want to buy, and what you need. Do you want somewhere in the city, or would you prefer the quiet suburbs? Do you need land, or do you prefer a lower maintenance option, such as a condo or townhouse? Do you need extra space for family down…
11 Bad Habits That You Should Ditch to Save Hundreds of Dollars
It is easy to develop bad financial habits. But when you fall into financial trouble, it is pretty hard to come out of it. A few people have enough money to buy anything that they want without giving a second thought. Most people require planning their finances and staying vigilant to keep them floating within this negative financial atmosphere. Thus, you should be aware of your unhealthy habits and things which you can do in your everyday life, which saves a little bit of extra money. You will realize that a small amount can add up to a lot well put together. Here are some financial habits that must be…
4 Ways to Boost Your Financial Health During The Pandemic
While it’s been a challenging year for many with plenty of worries, health concerns, and general uncertainty, it is important to always find the silver lining and make the most of what is a difficult situation. With the majority of us spending more and more time at home, many have been using this time to learn new skills and accomplish goals – and achieving financial goals shouldn’t be any different! Here are some tips to help you get your finances in order and put you ahead. Save, save, and save some more! If you can, of course. Not everyone will have the luxury of being able to put aside money…
4 Ways Debt Can Affect Your Life
Everyone will encounter debt at some point in their life. It may happen right after college, being overwhelmed with the thousands upon thousands of dollars in student loan debt, or it could be from consistently frivolous spending for things you didn’t need, and don’t use even now. While some people can manage their debt, not everyone can do so, and this could severely impact and affect their life in many different ways. You Are Stressed Money worries are one of the critical components of stress, and from stress comes anxiety and depression, creating a vicious cycle that can feel almost impossible to escape from. This stress is compounded with interest…
4 Ways Getting Finances in Order During Pandemic
There are many things that have gone bad in the year of 2020. The biggest thing to happen is definitely the ongoing pandemic that’s haunting the world. This pandemic is a terrible thing, but there are many remarkable things to come out of all of this. For one, I’ve been furloughed a few times and worked from so I’ve had a lot of family time. We have spent extra time together playing games and making good use of technology. Seeing that we’re not going anywhere, we have been saving money in the process. Three years ago, we helped my son build his credit to buy a car himself before graduating.…
Looking to End Credit Card Debt? 4 Ways to Pay Off Credit Card Debt
With this being the new year, we all have some kind of resolution we hope to obtain. While many people are looking to slim or loose some weight others want to rid themselves of debt. Many people have followed the 52 Week Challenge to help with money issues. On the other hand, people are looking to get rid of credit card debt. Are you someone that’s looking to get rid of credit card debt, maybe I’ll be some help to you and many others? Check out these 4 Ways to Pay Off Credit Card Debt. Pay Off the Balance with the Highest APR First Get all the statements for…
3 Simple Steps When Getting Your Finances In Order
If you’re a parent and you assume part or all of the responsibility of running a household, you’ll be all too aware that life can get expensive. If your finances aren’t in order, you may find that you struggle to make ends meet or get through rough patches. While it’s not always possible to predict what is going to happen, taking steps to manage your money could make all the difference if life doesn’t quite pan out as expected. If you’re keen to save and adopt a firmer grip on your finances, here are some simple strategies to try. Don’t go another month without a budget If you don’t already…
6 Ways To Teach Your Kids About Finance
Back-to-school time means plenty of lessons to learn in the classroom. But parents usually have to be the teachers when it comes to a subject their kids will need to understand throughout their adult lives – personal finance. Studies show that teaching finance is not a top priority of the U.S. education system. Fewer than 20 percent of teachers report feeling competent to teach personal finance, according to a Council for Economic Education Survey, and only 17 states require students to take a personal finance course in high school. “The majority of your kids’ financial education will come from you,” says Kathy Longo (www.flourishwealthmanagement. com), the author of Flourish Financially: Values, Transitions, & Big Conversations. “Because…
5 Actionable Steps to Take if You Feel Financially Constrained
Everyone should be able to feel like their money is there to help them live the best life possible. But when you have so many obligations and your budgets are so tight, it’s easy to start feeling financially constrained. In truth, it’s a problem more and more people are dealing with. Those who used to feel secure are suddenly squeezed, so what can you do about it? There are some options to consider, so read on to learn more about the actionable steps you can take to prevent those feelings of financial constraint. Clear Your Debts ASAP When you owe a ton of money to your creditors, those feelings of…
7 Virtually Stress Free Ways To Pay Off Your Debts
Paying off your debts can make you feel like you’ve got a weight on your shoulders that nothing can shift. Having this number hanging over your head can be seriously demotivating, but fear not. There are a few virtually stress-free techniques you can adopt to pay off your debts faster and more efficiently. Look at some of the tips here and see how they can help you! Figure Out a Way to Pay That Works Best for You There are a few ways you can pay your debts off, depending on what makes you feel the most motivated and determined to get rid of your debts once and for all.…
Before You Do Building Work: The Essential Checklist
Whether it’s a small extension or a whole other section you are constructing, doing building work on your own home can be is always complicated. That is why you need to read the essential checklist of things that need to be sorted before the work begins, below. Time Yup, you are going to need to think about time. Whether you are doing the work yourself, or you have a contractor come in to do it for you. Why? Well, timing is everything when it comes to building work. This is because the success of a project can rely on all sorts of things. Things like the weather, although whether summer…
