When you are building a retirement plan it's important to consider where you are investing and what the benefits are of 401k vs Roth IRA plans. The fact that you are saving towards retirement is really the most important fact of all, so try not to be scared in your planning and take comfort that you are setting yourself up for retirement, and that is a great thing. Everyone's plans and needs are different, so I won't tell you what to do, but we...more
Cashing out a 401K before you reach retirement age has a much heavier penalty than you may think. This will stop most people from deciding to withdraw early, but if you decide you have no other option, there is still more you need to know, for instance, you can't actually do this any time you want to, you can only withdraw at certain points in your life. First of all, you can of course withdraw from your plan without any problems or penalties...more
When finances are tight, working on a budget is often the last thing you want to do. But having a good budget in hand is essential when you are facing those little unexpected emergencies or trying to figure out how much money you can afford at the grocery store. These tips will help you figure out the best way to go about establishing your household budget. First, figure out how much money you have coming in every month. Include all sources of income that are readily available to you, such as paychecks, child support, social security, and even dividends on stocks and bonds. Anything that you know for sure will be coming to you should be included in the budget. Second, you should list your expenses. Start with the most important ones first: rent or your mortgage, car payment, insurance, and utilities. Include groceries at the top of the list as well. Then start listing the rest, including credit cards, medical costs, and incidentals. Look at how much money you have coming in versus what is going out. Pay the most important bills first - these are the ones that keep a roof over your head, keep your lights on, and keep food on the table. Those should always be your priority. Pay those...more
So just what are values based financial planning and is it anything that you may be interested in. In short, values based financial planning is quite simply a method of financial planning that integrates your personal values into decisions that are made. Sounds simple right? Well its not.How Can You Be Sure?For instance, you may have already been...more
How to Manage Money and Eliminate DebtDashing through the mallswith credit card in handbuying big and smallI don't understand I wish I had more cashbut my credit card I'll useI spend it in a flashOh, I have the holiday blues Oh, Jingle Bells my credit smellsand I think I broke the bankOh, I wish I was debt freebut I have myself to thank Oh, Jingle...more
Many people hope that their working income will give them all they need to make ends meet and achieve their goals. The reality is that for most people, the regular job will never supply enough money to enable you to become financially successful. Today, we will look at the steps you can take to earn more money.Create Extra Income As we confirmed last week, proper budgeting is vital to all financial decisions. Once you fill out your budget accurately, (you can download one at www.financiallysmartonline.com) it will show if you"re spending too much money or not making enough money. If you"ve cut back on non-essentials and still can"t find enough to pay your basic expenses, then earning more is your only option.The first step is to break down your monthly deficit into a smaller amount that seems easier to achieve. For example, if your shortfall is $15,000 monthly, ask yourself "What can I do to make an extra $3,750 per week, or $500 per day?" Dissect it even further "" how can you make $50 profit from ten people daily?An obvious, but underutilised way of finding more money is to try to earn additional income on the job. Why not check with your human resources department to see how you...more
As a college student, you may agree that life is not easy all the time. Aside from the challenges of dealing with peers and professors, passing exams, and keeping up with the daily school activities, financial issues can also add to the pressure. ...more
Women grants are a form of federal grants just for females. A federal grant is a financial assistance awarded to a recipient by a federal agency to help out the American public. The Department of Health and Human Services (DHHS) has provided detailed...more
Looking to make money online? A lot of people are looking to do the same as well, but not many people know where to start. If you are one of these people looking to create an internet business for the first time, but are wary to put in much money...more
We all know that paying bills is becoming harder and harder as the world economy struggles. It is harder to hold onto jobs and maintaining your quality of living can be tough as inflation strikes. If you've been struck by unfortunate circumstances...more
Small business government grant money is readily available today. The Obama administration is seeking to give millions of dollars away in grant money. Here are some steps that will hopefully help you in receiving a grant for your small...more
How to leave college without debts? The series of financial obligations which have gripped the American consumers, starting from the recession has also a significant percentage of college debts. Most of the college students try to...more