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Here are some steps you can take to protect your cash flow during tough times. It may be a job loss, or large and unexpected medical bills. Whatever the cause, it threatens your income stream or raises your expenses. You’ll need to take drastic measures to restore your cash flow as much as possible.
Eliminate Nonessential Spending
One
Continue reading Steps to Protect Your Cash Flow
If you are struggling with how to manage your debt, start to take control by formulating your debt philosophy.
A debt philosophy is nothing more complicated than crafting a financial mission statement, the structural foundation of your family’s beliefs when it comes to debt.
It doesn’t need to be profound or complicated. It can be as simple as:
We agree to
Continue reading Your Debt Philosophy
If you are worried about losing your job or getting hit with hefty unexpected bills you can improve your chances for staying afloat and paying your bills with these steps:
keep your core living expenses at less than half of your income
Create an emergency fund in a regular, taxable account
limit your debts, including credit card balances,
Continue reading Debt and Spending: Stay Afloat and Avoid Financial Disaster
Investors in money market funds who hope to diversify their holdings without giving up yield have several options.
When choosing cash investments the most important consideration should be to at least beat inflation. If you aren’t beating inflation you are losing buying power. That’s just as damaging as a loss of principal.
That said, if a financial institution
Continue reading Cash Investments: Money Market and Savings Options
This is a smart home-buying move that can save you big-time money on your mortgage debt if your FICO score is between 700 and 760.
Your FICO credit score plays a major role in determining the interest rate on your mortgage. If your score is 760 or higher, you’re in line for getting the lowest rate. But
Continue reading Mortgage Debt: Before You Buy a Home If FICO Score Not in Top Range
Prosperity is having sufficient assets to support your ability to live life for fulfillment and enrichment.
Here are some of the risks that can affect your trek to prosperity.
Spending
The most successful wealth managers know that they must be disciplined in their spending. It’s easy to let expenses increase as you make more and more money. If
Continue reading Risks to Your Wealth and Prosperity
Bartering can help you get products or services that you need without requiring cash or taking on debt.
A number of web sites can help you to hook up with providers or customers.
Each trading partner decides what is a fair exchange. Bartering especially makes sense for parents because their children constantly need new things. It also
Continue reading Bartering to Save Cash and Avoid Debt
One form of debt, credit cards, when used irresponsibly, can have devastating effects on your finances:
Out of Sight, Out of Mind
One of the biggest issues is a mental issue. When using credit cards, it is easy to rack up the balances because you don’t actually see the money going anywhere. It’s really easy to spend
Continue reading The Credit Card Debt Trap: Ease of Use, Carrying a Balance, Small Payments
Debt is an important financial tool that can be managed or mismanaged. If handled well, debt can enable us to purchase appreciating assets, minimize our long-term housing and transportation costs and reduce our taxes.
Debt has the power to improve our lifestyle, increase our cash flow and build our wealth. It also has the power to
Continue reading Managing Debt as an Important Financial Tool
In America today, carrying some debt is unavoidable, and even desirable, for most households. But between mortgages, car payments, and credit cards, many Americans find themselves over their heads – unable to dig out from under a growing debt burden that consumes an ever growing portion of their resources.
Assessing Your Debt
How much debt is too
Continue reading Getting out of Debt – Assess, Budget and then Reduce
Here are some things that can get you started on your trek to prosperity before you’re 20.
1. Get a Job
Learn the value of work. It doesn’t need to be full-time, but an after school job in which you work 10-15 hours a week can be a great way to learn the value of work, and
Continue reading In Your Teens: Earn Income, Save, Budget and Control Debt
Here are some things to consider if you are in your 30’s:
1. Pay off non-mortgage debt: It’s best if you have already paid off your credit cards. But if you haven’t, now is the time to tackle what remains of youthful indulgences with plastic. (And get out of the debt cycle once and for all.)
Continue reading In Your 30’s: Debt Reduction, Protection, Accumulation
One of the most attractive wealth-transfer strategies is also one of the simplest – a family loan.
The IRS permits relatives to lend money to one another at what is called the Applicable Federal Rate, which the government sets monthly. With these, relatives can charge far less than a bank.
The appeal of the Bank of Mom
Continue reading Helping Your Heirs With a Family Loan
Household wealth in the U.S. increased by $2.67 trillion in the third quarter as stock prices and home values climbed, putting consumers farther along the path of recovery from the biggest destruction of assets on record.
Net worth for households and non-profit groups rose to $53.4 trillion from $50.8 trillion in the second quarter, according to
Continue reading Household Saving to Stay at Higher Levels Due to High Debt and Low Net Worth
Reduce your spending, freeing up cash from your cash flow to reduce your debt, getting debt relief and keeping you moving toward prosperity. Save money and improve your lifestyle – for free!
Free TV and Movies
At Hulu.com, you can watch full episodes of more than 300 shows from NBC Universal and Fox stations, including The Simpsons,
Continue reading Free Products and Services to Improve Your Lifestyle
If your credit score isn’t good you’re apt to get less-desirable terms, and you’ll pay a little more than the average consumer because the lender is taking on a greater risk.
Here’s information you can use to learn how lenders evaluate you, understand a few of the tools they use to make their choices (such as
Continue reading How to Get a Loan With a Bad Credit Score
Social networks determine social norms and social behavior. What’s acceptable, what’s not acceptable.
Money among them. Academics and other researchers who have dipped a toe into the networking pool are finding that if you’re surrounded by people who save and invest, you’re likely to do the same. And if your pals spend like crazy, well, you’re
Continue reading How Social Networks Can Help Your Prosperity Trek
Is it a good move to pay down high-interest credit card debt using a lower-interest home equity loan or line of credit?
The short answer is: no.
According to the Mortgage Bankers Association, at the height of the debt leveraging in 2007 Americans had more than a trillion dollars in outstanding home equity loans. It was estimated
Continue reading Tapping into Your Home Equity – Home Equity and HELOC Loans
Two quotes from October, 2007 help us to appreciate the carefree spending mindset that gave us the Great Recession.
The following underscores the lack of saving and the expansion of debt that occurred. This was well-known two years ago, foretelling the mortgage defaults that would begin to occur shortly and the deleveraging that would begin one
Continue reading Saving, Investing and Spending – Understanding the Great Recession
How We Get Into Debt
There are two primary ways. One is through overspending and poor money management. No one really teaches us about financial literacy. A lot of folks learn through trial and error and the school of hard knocks. What they learn from their parents tends to be wrong-headed. It’s easy to get caught
Continue reading Debt and Money Management
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