Compared to 25 or 30 years ago, more and more college students and those under the age of 25 are getting into debt at alarming rates. Some college students don’t have the money to pay for school, forcing them to work fulltime jobs just to put themselves through school while simultaneously supporting themselves. This makes them more likely to incur debt that they often aren’t able to pay, which leads to bad credit and often even bankruptcy. Many are maxing out credit cards in order to pay for living expenses and other important bills, yet they have no means of repaying them. The good news is that by being a good financial role model, you can help prevent such a dire future for your child if you work hard at it.

Continue reading "Preventing Financial Problems for Your Child’s Future" »

Posted by Mike - Editor at 7:40 AM | Permalink

Your individual risk tolerance will significantly affect the look of your portfolio, so you should have a good understanding of what it means and how it is applied to your investments.

Continue reading "What Is Your Investment Risk Tolerance" »

Posted by Nickie - Editor at 6:41 AM | Permalink

Almost no one enjoys the process of analyzing and budgeting expenditures, but inefficient and wasted expenditures can be major impediments to accomplishing your financial goals. It is difficult to manage your money if you don’t know how much you have or where it is going. Consider these steps when developing your budget:

Continue reading "How to Develop a Budget" »

Posted by Nickie - Editor at 7:29 AM | Permalink

No matter how hard they work, many people find themselves living paycheck to paycheck, which means that they spend all or just about all of their paycheck each payday, just to make ends meet. People who live paycheck to paycheck are often depressed and feel that they are in a rut they just can’t get out of. Unforeseen expenses, such as a car breakdown, household repairs, etc. can really cause a financial crisis. If this describes you and your current life, the good news is that you can get out of that rut you’re in, and you can start saving money, going on trips— living. By following easy life-changing strategies you can greatly reduce the stress in your life, as well as improve its quality.

Continue reading "How to stop Living Paycheck to Paycheck" »

Posted by Mike - Editor at 6:26 AM | Permalink

The market changes. Companies change. Investments change. Your needs and goals change. That’s why it’s important to check, at least once a year , if your investment portfolio also needs to change. Here is a disciplined approach to reevaluating your portfolio.

Continue reading "Reevaluate Your Portfolio Annually" »

Posted by Nickie - Editor at 6:39 AM | Permalink

Unfortunately, a large number of Americans have been victims of identity theft this past year, alone. According to the Federal Trade Commission, over 42 percent of annual consumer complaints are due to this damaging crime. It can damage your bank account, credit, and many other aspects of your financial life. Identity theft can take years to recover from, and surprisingly is often committed by someone that the victim knows. A thief in the family is able to obtain your personal information easier than a stranger. So if you’re aware that someone you now is a thief, by all means, keep your private information out of their reach. As scary as it may be, identity theft can be kept to a minimum, and even prevented in most cases, as long as you practice the following easy steps.

Continue reading "Preventing Identity Theft" »

Posted by Mike - Editor at 8:07 AM | Permalink

Caught up in the day-to-day routine of raising your children, it’s easy to forget to take care of other financial decisions involving them, including: naming a guardian for your children; insurance coverage; saving for college; and more.

Continue reading "Financial Decisions Affecting Your Children" »

Posted by Emma - Editor at 8:08 AM | Permalink

For decades, we have heard that men earn more than women for the same type of work. While that is still true, the gap between wages for men and women has narrowed significantly. In the 1960s, women earned approximately 60 cents for every dollar men earned. By 2006, that amount had increased to 81 cents (Source: Economic Letter, May 2007). More sophisticated analysis that accounts for variables such as education, work experience, occupation, and family factors, however, show even greater progress in reducing the wage gap. For instance, one study found that women between the ages of 35 and 43 earn 97.5% of what men earn (Source: Economic Letter, May 2007).

Continue reading "Narrowing the Gender Wage Gap" »

Posted by Emma - Editor at 8:20 AM | Permalink

Your child has finally finished college and started his/her first full-time job. What is the most important financial advice you can give them at this point in their lives?

Continue reading "Getting Your Adult Child to Participate in a 401(k) Plan" »

Posted by Emma - Editor at 7:44 AM | Permalink

The holiday season is a wonderful, joyous time of the year that is greatly enjoyed and anticipated by many people. Unfortunately for others, the season that is so happy for some people, is depressing and dreaded. The reason that the holiday season brings great melancholy for some people is because of lack of money to celebrate how they wish. Many people feel that it isn’t Christmas if they don’t buy luxurious gifts for their friends and families, or host extravagant holiday parties. Children may request or even demand expensive holiday gifts that parents simply can not afford to purchase. If you find yourself suffering from the holiday blues due to lack of money, then don’t fret, because there are many ways to remedy this.

Continue reading "Eliminating Money-related Holiday Depression" »

Posted by Mike - Editor at 8:32 AM | Permalink

Feel like you’re buried under an avalanche of paper? The steady accumulation of paper over the years can make even the most organized system seem uncontrollable. Some general guidelines on which papers to retain and which to toss include:

Continue reading "Which Financial Paperwork Should You Keep" »

Posted by Emma - Editor at 8:03 AM | Permalink

Many people look forward to the holiday season each year and are eager for the celebrations, decorations and to eating high calorie yet scrumptious goodies. One thing that many people seem to take for granted is the fact that they have enough money for food, gifts and shopping, but unfortunately, many people don’t have enough money for these things. They may have been laid off from their jobs, be in debt, or simply work low-paying jobs that prevent them from having enough money left over after paying bills for extras. This is why there are nonprofit organizations available to help make the holidays more fulfilling to individuals in such situations. Unfortunately, these charities don’t always use the donated funds as they should, and many charity workers have been prosecuted after being convicted of fattening their own pockets with funds designated for needy families.

Continue reading "Giving to Charities at Christmas: Where is your Money Really Going?" »

Posted by Mike - Editor at 8:32 AM | Permalink

If you’re in the market for a new vehicle, now is the time to buy, by the last day of December. With the year 2007 rapidly coming to an end, many car dealers are anxious to get rid of 2007 cars and trucks in order to make room for their new inventory of 2008 vehicles. You may find yourself, despite credit problems, little cash for a down payment, and the cost of the vehicle, paying less than you ever thought possible to own a brand new car or truck. Finance companies may temporarily slacken their credit requirements, and sales persons may drastically reduce the overall cost of the vehicle as incentive for you to buy. You may also be able to receive lower monthly payments as part of the package.

Continue reading "Reasons to Buy a 2007 Vehicle Instead of a 2008" »

Posted by Mike - Editor at 8:01 AM | Permalink

To help pursue your financial goals, you need a financial plan to help you get there. These five basic tips can help you achieve your goals:

Continue reading "How to Set Financial Goals" »

Posted by Nickie - Editor at 8:40 AM | Permalink

If you’re like many other Americans, you have a desire to live any easy life and become prosperous. While most people may think that it’s impossible for the average person to become rich, with great persistence and hard work, it is quite possible to live comfortably and possibly even become rich. It won’t happen overnight unless you win the lottery, but there’s no reason why you can’t actively work towards becoming a millionaire, or at least quite well-off.

Continue reading "How to Become a Millionaire—or as Close to One as Possible" »

Posted by Mike - Editor at 7:14 AM | Permalink

With funeral costs reaching astronomical proportions, many individuals are opting for alternative funerals in order to cut costs and allow their loved ones more money to pay bills and other necessities. For this reason, alternative funerals have become extremely popular in the past 15-20 years. Another reason why alternative funerals have become popular is because more and more people would rather their loved ones celebrate their life and treat the ceremony as a happy one as opposed to traditional funerals with crying and grieving.

Continue reading "Use Creativity to Save on your Afterlife Expenses" »

Posted by Mike - Editor at 8:10 AM | Permalink

Before the year end, get all your investment information together, thoroughly analyze it, and clean up your portfolio. Here are 4 main points to consider during this annual review process:

Continue reading "Reviewing Your Investment Portfolio" »

Posted by Emma - Editor at 8:01 AM | Permalink

Financial lenders calculate the APR or annual percentage rate using a formula that takes into consideration the various expenses associated with the mortgage. Some fees are always calculated into the equation while others are never included. In fact, some fees are considered when calculating the APR by some lenders, but not by others.

Continue reading "What Fees Are Included in the APR or Annual Percentage Rate?" »

Posted by Mike - Editor at 7:24 AM | Permalink

Our mortgage payments are high. The bills are mounting up. School fees and kids activities don’t come cheap. Most parents are both working—some with two jobs each. It is difficult for adults to have any money left over to save. So how can we possibly teach our children to save? It is extremely important, however, that we do teach our kids the lessons of saving-especially when the costs of tuition for schooling are rising, the cost for weddings today is astronomical, they will benefit from a head-start for a down payment on a house, or they may even need to start saving for their retirement from early on.

Continue reading "Teaching Your Child to Save" »

Posted by Mike - Editor at 7:01 AM | Permalink

Choosing a funeral provider can be a stressful experience for those with little experience and who may be emotionally distraught over the sudden death of a loved one. It is not required by law to use a funeral home, but the many legal requirements and details may make using the professional services of a funeral home more convenient for the family.

Continue reading "Choosing a Funeral Home" »

Posted by Mike - Editor at 6:34 AM | Permalink

Just about everyone can appreciate the convenience of having a checking account. Checking accounts allow you to easily pay your bills, whether on the phone, on the web, by mail or in person. You can also set up automatic withdrawals with a checking account, to avoid late payment penalties and eliminate the need to remember when certain bills are due each month. The list of the advantages goes on and on, depending on how you choose to use your account and what goals you have in mind.

What most people fail to realize, though, is that having a bank account is a privilege, and if for some reason you don’t responsibly handle your account, that privilege will be revoked.

Continue reading "Tips for Opening a Checking Account After Being Reported to Chexsystems" »

Posted by Mike - Editor at 7:24 AM | Permalink

The Internet has made online transactions commonplace. However, you should be aware of two forms of Internet identity theft: phishing and pharming. In 2006, losses from this type of identity theft totaled $2.8 billion, or $1,244 per victim. Consumers were only able to recover 54% of the amount lost (Source: AARP Bulletin, February 2007).

Continue reading "Tips to Avoid Internet Fraud" »

Posted by Emma - Editor at 6:32 AM | Permalink

Good investing habits will help ensure you follow through on your investment plan. Below are four tips to hone your investment habits:

Continue reading "Establishing Good Investing Habits" »

Posted by Nickie - Editor at 12:10 PM | Permalink

We all know that we should be saving at least 10% of our gross income for retirement, but, that can seem like an impossible goal after paying all of our bills. Before coming to the conclusion that you can’t come even close to saving 10% of your income, you should look very closely at the after-tax cost.

Continue reading "Finding Money to Save" »

Posted by Nickie - Editor at 10:17 AM | Permalink

Continue reading "People Must Learn to Pay Themselves" »

Posted by Mike - Editor at 5:55 PM | Permalink

Before purchasing an investment for your portfolio, answer the following questions about that particular investment:

Continue reading "Things to Consider Before Purchasing An Investment" »

Posted by Nickie - Editor at 7:12 AM | Permalink

As part of the Pension Protection Act of 2006, taxpayers age 70 ½ and older can take tax-free distributions, up to $100,000 in 2006 and 2007, from traditional and Roth individual retirement accounts (IRAs) for charitable purposes. This provision is expected to increase charitable contributions from IRAs. Without this provision, donors typically find that the income tax deduction for the charitable contribution is not enough to offset the tax bill generated by the IRA distribution. With this provision, the income from the IRA is not included in gross income, and the charitable contribution cannot be deducted on the donor’s tax return.

Continue reading "Using an IRA Distribution for Charitable Contributions" »

Posted by Emma - Editor at 7:01 AM | Permalink

In a recent survey, respondents were asked what percentage of their retirement savings could be safely withdrawn every year without running out of money in their lifetime. Approximately 42% of the respondents did not know, 6% said 25% or more, 6% said 15% to 24%, 17% said 10% to 14%, 19% said 5% to 9%, and 10% said less than 5% (Source: National Underwriter, May 8, 2006).

Continue reading "How Much Can You Safely Withdraw from Savings" »

Posted by Emma - Editor at 11:07 AM | Permalink

When considering a job change, it’s tempting to just look at the difference in salary between the two positions and base your decision on that. But before deciding whether to change jobs, you should consider a number of factors, including the following:

Continue reading "Check All Factors Before Switching Jobs" »

Posted by Emma - Editor at 7:20 AM | Permalink

One of your first financial goals should be to protect your family’s financial security from major catastrophes. To protect your family's financial security consider these four items:

Continue reading "Protecting Your Family's Security" »

Posted by Emma - Editor at 11:33 AM | Permalink

When setting up an investment program, the assumed rate of return is typically an average annual return for some historical period. While that is generally viewed as a conservative approach, there are some problems with using an average return:

Continue reading "Using Average Returns in an Investment Program" »

Posted by Emma - Editor at 12:50 PM | Permalink

Responding to a request for a loan from a family member or friend can be difficult. Often, the reason they’re asking is because a bank or other lending source has turned them down, making them less than an ideal credit risk. Carefully consider such a request before agreeing to loan money. Consider these points:

Continue reading "Loan Carefully" »

Posted by Emma - Editor at 7:05 AM | Permalink

The sheer number of financial decisions required to manage our finances can seem overwhelming. But often we spend an inordinate amount of time on small stuff like getting the bills paid on time, reconciling bank accounts, and calling to have a late charge waived. While those things need to get done, how do we judge whether we are headed on the right course? There are six basic financial decisions that can determine the course of your financial life:

Continue reading "Get the Basics Right" »

Posted by Emma - Editor at 6:54 AM | Permalink

Are you confused about plan limits? This quick reference for 2007 should make your savings planning a little simpler.

If you do not know which plans may be best for your business structure, or what plans you are eligible to use, consult with a qualified advisor for assistance. They will also be able to do a comparison of your individual options.

Remember the maximum allowable compensation that can be used to determine plan contributions in 2007 is $225,000. For highly compensated employees, the ceiling is a much lower $100,000.

Continue reading "2007 Tax Favored Savings Plan Updated Limits Summary" »

Posted by Mike - Editor at 9:31 AM | Permalink

People change jobs many times over a working career. Women marry and change their name over their working careers, many more than once. Adults move on with their lives, sometimes to another city, perhaps you moved across state lines. Some workers will venture across country borders forgetting they were at a particular employer long enough to have become vested with a pension benefit. As the years pass, when they don't leave a forwarding address, it becomes harder to find them and remind them of these waiting benefits, if not impossible.

Continue reading "Finding Your Lost Pension & 401(K) Funds" »

Posted by Mike - Editor at 6:58 AM | Permalink

Warren Buffett, perhaps the greatest investor alive today, has an amusing way to describe his rules for investing:
Rule #1 — never lose money
Rule #2 — don’t forget rule #1
Although this may seem like an overly simple and conservative way to succeed, I hope to show you that these simple rules hold the key to successful investing for the vast majority of people: understand when you are playing a loser’s game and then play accordingly.

Continue reading "The Loser's Game" »

Posted by Mike - Editor at 10:38 AM | Permalink

It is estimated that 4.25% of American adults are subject to identity theft every year (Source: Money, July 2005). Approximately half involve credit card fraud, where a thief steals a credit card number and charges items to it. While an inconvenience, this does not have a lasting impact on a person’s financial identity, and the person does not have to pay the fraudulent charges. The more significant worry, which occurs in 25% of identity thefts, is when another individual obtains sufficient information to borrow money or open accounts in your name. According to a Federal Trade Commission survey, victims spend an average of 60 hours and $1,200 to clear their names.

Continue reading "Securing Your Financial Identity" »

Posted by Nickie - Editor at 6:45 AM | Permalink

Even though it seems like money and financial topics are discussed everywhere, these are not concepts your children will learn automatically. Some of the most valuable lessons you can teach your children involve basic money concepts, such as the value of saving and investing. Some strategies you can use to help teach these concepts include:

Continue reading "Teaching Children About Money" »

Posted by Nickie - Editor at 9:18 AM | Permalink

To attract and keep top employees, more companies are offering them employee stock options. If you receive employee stock options as part of your compensation package, careful planning can help you make the most of them.

Continue reading "Considering Your (Stock) Options" »

Posted by Mike - Editor at 9:03 AM | Permalink

Personal financial topics are often some of the most difficult topics for people to discuss. But since financial issues often cause significant problems in marriages, you should try to reach agreement on your finances before your wedding. Some items to consider include:

Continue reading "Resolving Financial Issues before Marriage" »

Posted by Mike - Editor at 6:27 AM | Permalink

At least annually, you should review your portfolio’s performance, comparing it to relevant benchmarks and determining whether you are making progress toward accomplishing your financial goals. Consider these steps in the process:

Continue reading "Reviewing Your Portfolio's Performance" »

Posted by Emma - Editor at 9:10 AM | Permalink

Discussing financial matters with your parents can be difficult. You don’t want to seem concerned about how much money they may eventually leave you, while they may fear you are interfering in their lives. Yet, without discussing these matters beforehand, you may have trouble finding all their financial records or determining their wishes if you need to take over their finances.

Continue reading "Helping Your Parents with Their Finances" »

Posted by Mike - Editor at 11:04 AM | Permalink

After all the natural disasters of 2005, you should give some thought to what you would do in the event of an emergency. If you had to evacuate your home, could you quickly get your hands on all important financial documents? Consider organizing and keeping those records in one place, preferably a fireproof, lockable box. Items that should be placed in the box include:

Continue reading "Organizing Records for an Emergency" »

Posted by Emma - Editor at 8:11 AM | Permalink

As a parent, you often wish you could impart wisdom you have gained over the years so your children don’t have to make the same mistakes you made. What are the most important financial tips you should pass on to your children? Try these:

Continue reading "Financial Tips for Your Children" »

Posted by Nickie - Editor at 7:47 AM | Permalink

First, keep this in mind, almost no one enjoys the process of analyzing and budgeting expenditures. But inefficient and wasted expenditures can be major impediments to accomplishing your financial goals. It is difficult to manage your money if you don’t know how much you have or where it is going. Consider these steps when developing your budget:

Continue reading "Use a Budget to Control Spending" »

Posted by Mike - Editor at 9:34 AM | Permalink

When reviewing the financial health of a company, it’s common to look at financial ratios, such as: EPS (Earnings Per Share), P/E Ratios (Price/Earnings Ratios), Book Value, and Total Return. The reason financial ratios are so popular is they give you a means of evaluating financial information, while allowing you to track changes in a company’s performance over time. Consider using the same concept to assess and track your personal financial situation.

Continue reading "Check Your Personal Financial Ratios" »

Posted by Mike - Editor at 12:26 PM | Permalink

While investors want the highest returns possible, returns compensate you for the risks you take — higher risks are generally rewarded with higher returns. Thus, you need to assess how much risk you are willing to take to obtain potentially higher returns. However, this can be a difficult task. It is one thing to theoretically answer questions about how you would react in different circumstances and quite another to actually watch your investments decrease significantly in value. What you are trying to assess is your emotional tolerance for risk, or how much price volatility you are comfortable with. Some questions that can help you gauge that risk tolerance include:

Continue reading "Have You Assessed Your Risk Tolerance?" »

Posted by Mike - Editor at 12:11 PM | Permalink

Posted by Mike - Editor at 11:29 AM | Permalink

Posted by Mike - Editor at 11:36 AM | Permalink

A common rule of thumb when planning for retirement is to save 10% of your gross income during your working years. Since this rule of thumb has been around for a long time, it's logical to question whether it's still an appropriate guideline.

Continue reading "Is Saving 10% Enough?" »

Posted by Mike - Editor at 6:41 PM | Permalink

How often have you drawn up an ambitious list of New Year’s resolutions, only to find you’ve given up on them after a few weeks? Don’t let that happen to you in 2006. If you want to make significant strides toward achieving your financial goals, determine why your resolutions have failed in the past and find ways to overcome those obstacles.

Continue reading "Make Your New Year's Resolutions Work" »

Posted by Mike - Editor at 7:34 PM | Permalink

Once your children start working, help them develop good savings habits by encouraging them to fund an Individual Retirement Account (IRA). Even if your child only contributes for a few years, an IRA can provide significant funds for retirement.

Continue reading "Your Children and IRAs" »

Posted by Mike - Editor at 2:21 PM | Permalink

The biggest obstacle in making good investment decisions is probably our emotions. Numerous studies over the years have found that investors have certain psychological biases that get in the way of making purely rational decisions such as the following:

Continue reading "How Our Emotions May Affect Investment Decisions" »

Posted by Mike - Editor at 7:08 PM | Permalink

Having your money grow competitively over the years is both a combination of good planning and a little luck. Although there is not much you can do about the luck part of it, you can implement some basic principles to put the odds in your favor on the planning side of things. Here are 6 important concepts to consider:

Continue reading "Useful Investing Tips" »

Posted by Mike - Editor at 2:25 PM | Permalink

Even though all indications are that the economy is recovering, that doesn’t necessarily mean that a large raise is on the near-term horizon for you. Your best bet for the near term is to make your current salary stretch farther. Here are some thoughts on how to do that:

Continue reading "Stretching Your Salary & Other Savings Ideas" »

Posted by Mike - Editor at 8:11 PM | Permalink

The Social Security Administration automatically mails Social Security statements to all workers age 25 and older who do not yet receive benefits. The statements arrive annually, approximately three months before your birthday, and contain the following information:

Continue reading "Review Your Social Security Statement" »

Posted by Mike - Editor at 8:18 PM | Permalink

A new year is typically viewed as a time to reflect on the past year and to set new personal goals. But it is also a good time to review your current financial situation, resolving to make significant strides toward achieving your long-term financial goals. Consider some of the following resolutions for your 2005 list:

Continue reading "Start the New Year Out Right" »

Posted by Mike - Editor at 11:17 AM | Permalink

If married couples can’t agree on basic money issues, these issues can become a constant source of conflict. To help avoid money conflicts, consider these tips:

Continue reading "Money and a Happy Marriage" »

Posted by Mike - Editor at 11:25 AM | Permalink

One of the most valuable lessons parents can teach their children is how to responsibly manage money. Some strategies to teach these lessons include:

Continue reading "Teaching Money Lessons to Your Children" »

Posted by Mike - Editor at 12:36 PM | Permalink

Continue reading "Protecting Your Financial Life" »

Posted by Mike - Editor at 7:46 PM | Permalink

Continue reading "Resolving For A Better Financial Year" »

Posted by Mike - Editor at 7:52 PM | Permalink

Continue reading "A Portfolio Review" »

Posted by Mike - Editor at 8:02 PM | Permalink

Continue reading "Straightening Out Your Personal Finances" »

Posted by Mike - Editor at 2:13 PM | Permalink

Continue reading "Teaching Money Basics" »

Posted by Mike - Editor at 2:11 PM | Permalink

Continue reading "Another Look at Risk Tolerance" »

Posted by Mike - Editor at 2:16 PM | Permalink

Continue reading "Follow These Three Principles to Reach Your Financial Goals" »

Posted by Mike - Editor at 2:25 PM | Permalink

Continue reading "Updating Your Important Documents" »

Posted by Mike - Editor at 2:32 PM | Permalink