Being wealthy isn’t only about what you do with money–there are a number of things that wealthy people do more often than those who are not. And if we can try to emulate those habits and actions, we might put ourselves on the right track financially. It starts with making the best use of your… Read More
Just 10% (as reported by Melanie Hicken on Money.CNN.Com)
Strive to put away at least 10% of your income towards retirement. That’s Melanie Hicken’s advice to young adults just starting their careers after college. It’s a time in life when there may be a variety of competing financial goals, and when you don’t necessarily have the life experience to know everything you need to… Read More
Avoiding Retirement’s Financial Pitfalls (as reported by Robert Powell of Finance.Yahoo.Com)
There is a lot to think about when planning for retirement. It’s important that you do your best not to make one of several simple mistakes many new retirees make. The best thing you can do is learn to live within your means. After retirement, when you no longer have an outside source of income,… Read More
Pass on Financial Responsibility (as reported by Alex Veiga on Newsday.Com)
To help ensure that your kids will grow up to become more financially savvy, it is a good idea to start teaching them about financial responsibility early. Parents can teach their kids about the value of working for money and saving. Get them to think about purchases and prepare them for the tough financial decisions… Read More
Tips for Paying Off Debt (Guest post by David Ning of MoneyNing.com)
Debt is a four letter word, but you certainly don’t have to cringe every time you hear about it! Far too many think being in debt is just the way of life these days, but that’s simply not true. By spending some time employing simple strategies to pare down that financial burden, people actually end… Read More
The Dangers of Credit Cards (as reported by Derek Thompson on Finance.Yahoo.Com)
The convenience of credit cards may be appealing, but if you look hard at how credit cards are changing people’s money habits, there may be more negatives than positives. The nature of credit cards is that people are more careless than they might otherwise be with cash. Some would argue that they make us less… Read More
In Finance, Lead by Example (As Reported by Jennifer Calonia on USNews.com)
One of the surest ways to develop a financially savvy young adult is for parents to reinforce sound personal finance decisions at home. And while not all parents will see eye to eye on good financial habits, being open about money management can have a huge impact on kids’ future financial literacy. By talking openly… Read More
Plan for Unexpected Medical Costs (As Reported by Gerri Detweiler on Finance.Yahoo.Com)
Even the most prepared and financially savvy of us can be caught off guard because of medical emergencies. Costs can be high and paying bills can be difficult. It is important that you plan for the unexpected so that these events don’t ruin an otherwise strong financial strategy. There are steps that you can take… Read More
Cost of Selling a Home (As Reported by Carla Fried on WSJ.com)
The good news is home sellers are in a better position now than they’ve been since before the financial crisis. The bad news is that most don’t plan enough for the costs that most people incur when going through the sales process. In addition to commission for real estate agents, there are often out of… Read More
Common Sense Investment Advice (As Reported by Pinyo Bhulipongsanon on Moolamony.com)
Most people who are new to investing want to know where to put their money, what the hot stocks are, or how they should choose a broker. But the experts will tell you that before you act, you should educate yourself and define a plan. It’s important to understand where you are financially, and what… Read More