 Category :: Personal Finance Articles |
Author :: Mike Hanna -  |
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| Article Title :: Post-Christmas Financial Difficulties |
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| If youÂ’ve spent more than your budget can cope with, then maybe youÂ’re thinking about credit to help you through January. Many people fear the long, broke month of January. After a lovely Christmas full of joyous smiles January can see a mood swing in the wrong direction. Many of us turn to credit cards to help get through this terrible month. But without knowledge of the financial industry a person without a great income can fall victim to the evil grip of unscrupulous credit companies.
In his newspaper article, Simon Bain of the Herald tells of how one particular bank has been sending credit card applications to people with offers of a credit card with APR of up to 69% (read full article) |
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| Category :: Personal Finance Articles |
Author :: Francis Kier |
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| Article Title :: Developing a Successful Home Budget |
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| This is probably the most requested topic that I receive, normally after someone gets a large unexpected expense, or they start thinking about retirement and realize that they have saved a woefully inadequate amount of money.
I recommend using a monthly time-frame to look at your cash inflows and outflows, because most bills are monthly and four weeks is a short planning period that most people can manage. The first thing to do is determine your monthly after-tax income. Usually, this is the amount of money from your paycheck that gets deposited into your checking account. If your income is variable, then use an average of the last three months. (Any savings account interest inc (read full article) |
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| Category :: Personal Finance Articles |
Author :: Francis Kier |
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| Article Title :: Navigating the College Savings Programs |
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| As a parent, the big financial concern with a newborn is how to set aside enough money to assist for a college education. Universities and state governments have developed many different financial savings plans to encourage parents to save money for college. Some of the plans include 529 accounts, Coverdell accounts, Roth IRAs and prepaid/guaranteed tuition costs. Unfortunately, few of the programs offer every benefit such as tax deductions, tax deferred savings, unlimited investment options, self directed investments and no penalties.
Selecting a university is a critical and expensive decision, and in my view it is foolhardy to make before the last couple years of high school. (read full article) |
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| Category :: Personal Finance Articles |
Author :: Francis Kier |
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| Article Title :: The Threshold between Wealth Creation & Destruction |
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| Wealth is simply the accumulation of money, and it can only be created by the amount of money that is received and never spent. If you want to build wealth, then anytime you receive money: donÂ’t spend all of it. Sure it is a very simple concept, but it is very difficult to continually achieve. Luckily there are readily available allies to help you: find some compelling reasons to start saving, build it into a habit, watch the results of your efforts build, and set some financial milestones to reward yourself.
Setting aside a percentage of any money that you receive is the best method to follow through and build the habit of saving money. There are a few misers among us who f (read full article) |
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| Category :: Personal Finance Articles |
Author :: Francis Kier |
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| Article Title :: Curing Yourself from Leaky Wallet Syndrome |
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| Financial stewardship of a business empire or $100 bill require a particular psychology if they are going to survive over time in the same hands. The lack of this same psychology is why most lottery winners cannot hold onto the giant sums of money they receive; and I call this psychological mind-set the “Leaky Wallet Syndrome”.
The difficulty with holding onto money is that it only takes a single weakness to lose it entirely. By weakness I mean that something has caught your eye that is so desirable that you will buy it spite of the fact that you cannot afford it. Whatever this purchase or payment may be, it psychologically reaches your personal threshold where having so (read full article) |
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| Category :: Personal Finance Articles |
Author :: Joseph Kenny - |
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| Article Title :: Paying Your Bills On Time |
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| How many monthly bills do you get? You may have a mortgage bill, a car payment, heating, electricity, gas, telephone, television, and that doesnÂ’t even begin with your credit card and store card payments. The fact of the matter is that people today have more monthly commitments than ever before. And with all these various bills it is very easy to forget to pay one on time.
Then there is the wholly separate issue of whether or not you can afford all your bills. Sometimes we may simply have over extended ourselves financially and in such situations we may not be able to pay all of our bills as they fall due. And what if you were to lose your job, or become ill or otherwise un (read full article) |
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| Category :: Personal Finance Articles |
Author :: Tom Justice |
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| Article Title :: Kill Bills |
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| Get Rid of Some "Extras"
The key to financial freedom is building wealth. The key to building wealth is eliminating all your extra bills so you have money to save. The average consumer's credit report carries quite a burden from these bills as well. Let's start with what hurts the most. Eliminate any habits you currently have. Most habits cost money and if it's a habit it can't be healthy for you in the long run anyway. Smoking, drinking, candy, coffee, collecting junk, etc. You will be surprised how much cash you pocket if you just quit 1 or 2 of the above (if any apply of course). By giving up a habit you are not only saving money and maybe even your health, but (read full article) |
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| Category :: Personal Finance Articles |
Author :: RickHendershot |
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| Article Title :: Term Life Insurance - Save Money the Smart Way |
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| Term life insurance is the easiest type of life insurance to understand. To put it simply, the insured person pays a minimal premium per thousand dollars of coverage on an annual, semi annual, quarterly or monthly basis. If he or she dies within the term of the policy, the life insurance company will pay the beneficiary the face value of the policy.
Distinctive Features of Term Life Insurance
To better understand some of the distinctive features of term life insurance consider the following points:
First, term life insurance is "pure insurance" because when you purchase a term insurance policy you are only buying a "death benefit". Unlike with ot (read full article) |
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| Category :: Personal Finance Articles |
Author :: Don Adams |
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| Article Title :: The Quickest Way to Dramatically Increase Your Net Worth |
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| Your net worth equals what you own minus what you owe. It is commonly referred to as the difference between your total assets and your total liabilities.
HereÂ’s a simple illustration:
Home Value = $350,000 Mortgage balance = $150,000
Investments = 100,000 Credit cards = 20,000
Auto = 45,000 Auto loans = 30,000
Savings = 15,000 Bank loan = 4,000
You Own = $510,000 You Owe = $204 (read full article) |
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| Category :: Personal Finance Articles |
Author :: Rudi Ashdown |
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| Article Title :: The dangers of comparison websites when searching for the cheapest gas and electricity. |
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| The price of domestic gas and electricity has been a regular topic in the UK press over the last couple of weeks and for good reason. The current round of price increases that have just come into effect from many of the big utility companies have hit many people hard, not least the elderly and the lower wage earners. It is estimated that those who remained with their original supplier are now paying 20 – 30 percent more for their domestic fuel than those who have switched. With the current 14.2% extra added to the bill, and with the figures banded around that British Gas has lost nearly half a million customers this year alone, it is no surprise that the British public are saying enough (read full article) |
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