All Articles Tagged "money"
Long distance relationships can be a drag. They aren’t the ideal, but what’s a person to do when they’re in love? When you take into account all that has to be done to keep the relationship strong, it can be pretty overwhelming emotionally and mentally. But no one ever really considers how much of a financial drain a long distance relationship can be. Here are some ways to make your dollar stretch for every mile that you have to travel to reach your loved one.
Your 20s were the time to splurge on the latest handbags, mess up your credit, rebuild your credit and establish patterns of financial success for your future. Now in your 30′s with kids, a mortgage, a significant other and a better career (or just a little wisdom and a desire to get it together), it’s time to get secure and at-peace with your finances.
Here are a few ways to achieve financial peace of mind in your 30′s.
Remember that medical bill from two years ago you forgot to pay? Or that utility bill that still lingers in limbo? Well, with a few hundred calls from collection agencies on a weekly basis, your memory starts to quickly come back. Collection agencies start to become a tedious routine call in your phone log hen bills are too long overdue. We even label their phone numbers in our contact list as Unknown, ??? or the infamous DON’T ANSWER to duck and dodge their calls. Eventually, debt catches up with you in the form of these pesky employees. What do you do when one of those calls are answered? Here are a few tips on how to get debt collectors off your back and manage the frustration they inflict.
Is your emergency savings important to you? If not, you should consider getting a tad more serious about it. According to Forbes, only 43 percent of women have an emergency fund compared to 63 percent of men. This leaves us at a disadvantage when the car conks out or when your child needs textbooks for school, leaving you at the mercy of credit card debt, high-interest loans and borrowing thousands of dollars.
According to the NY Times, only a quarter of Americans have six or more months saved for sudden emergencies and more than a fourth have no emergency savings whatsoever. Many of us find it difficult not to touch our cushy savings, especially when faced with retail or opportunistic temptation. (Remember that handbag you just HAD to buy because it was 10 percent off?)
Don’t get caught without an umbrella during those financial rainy days. Everything is not necessarily an “emergency.” Keep in mind these reasons why you need your emergency savings to be there for those sudden curves in life.
Men do a lot of complaining about how expensive dating is for them. But for men, the money spending doesn’t begin until they arrive at the date; they don’t realize all the little dating expenses women incur getting ready for the date! But truthfully, most of them are totally unnecessary. Like these:
Women are hardwired to be attracted to men who can provide us with stability — millions of years ago that meant a man who was strong could protect us from predators and was good at hunting. Today, one little thing takes care of all the modern versions of that: money. You’re not a gold digger if you find yourself drawn to a successful man, but you should make sure that’s not the reason you’re attracted to him.
I’m not saying a rich man isn’t loveable for his personality, but the money can stand in the way of a woman seeing it. Here are 14 little signs that the chemistry you’re feeling is just the prospect of a padded bank account, i.e. you’re with him for his money,
From Black Enterprise
It’s no secret the best time to overcome a financial crisis is before there is one. It’s also no secret that financial crises can be sparked by any number of reasons including recessions, terrorist attacks, overvalued assets, stock market activity, poor debt management, or regulatory failures.
Some are foreseen, others cannot be predicted. Regardless of the underlying cause, having a reliable sense of your future cash flow and a strategic plan in place can provide the tools to manage or avoid any potential problems.
Karl Hardesty, CEO of Hardesty LLC, a national executive services firm, realizes overcoming a financial crisis has its challenges, but it doesn’t have to be cause for panic. He offers the following steps any organization should implement to prevent or overcome a crisis.
- Establish a communications plan. Every organization has a chain of command, but in a crisis, the rules change. Assign a spokesperson to speak with media calling with sensitive questions. Make certain someone is ready to speak for the management team when investors come knocking, and someone is responsible for contacting customers and vendors. Knowing who will carry approved messages to key audiences before a crisis occurs may make the difference between satisfied investors who are well informed of your cash management or disgruntled investors who read misinformation about your business challenges on their Twitter feed.
- Develop a 13 week cash flow. The ability to forecast, monitor, and perform in the short term can establish the foundation for a positive outcome during any financial crisis. A 13 week cash flow is an appealing structure because it provides visibility into when cash will come in and what order obligations need to be addressed. Often it can help corporate turnarounds by focusing on short-term liquidity requirements and using weekly tracking to ensure fewer surprises and lower variances. Knowing your cash flow situation can help you get ahead of any issues before they become problems.
- Set up a cost reduction plan. There may come a time when cash is short and you’ll need to prioritize quickly. There’s always a lag between execution of a plan and positive impact on cash. Developing a plan after you notice the cash flow shortfall means it’s already too late. Create a line-item specific phased cost reduction plan that can be executed quickly. When doing so, note which vendors will need to be prioritized. Will you freeze disbursements? Will you reduce salaries or institute furloughs? How quickly can you revise payment terms with creditors? Once you’ve realized a cash flow shortage, have answers to those questions in place and move immediately.
Read more at BlackEnterprise.com
Blogs have been popping up all over the place. The question is why and to what benefit. If you’re new to making money online it may surprise you to hear that popular blogs can become so financially solvent the creator is able to quit their day job and word vomit their way to billionaire status. Don’t believe me? By having a large number of “hits” to your site or “subscribers” your blog becomes attractive to businesses looking to interact with your readership through ads (banners, in-text links, affiliate links, etc). At the start you may make $100 to $300 a month but with hard work and perseverance (the average blog doesn’t reach the higher financial bracket until one or more years) blogs can reach $2,000 a month and a whole lot more. The following is a list of the 14 most trendy blogs that you may want to emulate if you’ve always been most comfortable working in your pajamas.
News broke not too long ago that Oprah is planning the yard sale of all yard sales. Hoping to auction off many of her furnishings and antiques throughout her various homes, the big O isn’t the only one who can get in on the action as many of us can host our own yard and garage sales.
Throwing your own yard sale is a very good way to not only get rid of things you no longer need but also make some money on the side which could be extremely beneficial to those affected by the furlough, the recession, or any of the other economic issues we’re faced with. With the weather still nice enough to stay outdoors, it’s high time you get in on the action. Here’s how to run a successful yard sale.
Women can bring home the bacon and fry it up in the pan, but forget about trying to use their hard-earned money to potentially make more money. Women shy away from investing, reports financial planning company LearnVest, preferring instead to stash their cash in savings accounts. Despite earning bigger salaries, a recent Fidelity study found that fewer women than ever feel confident about wielding control of their own purse strings.
“I’ve got $75,000 sitting in a savings account,” one single, 38-year-old woman who is a VP at an advertising agency in Manhattan told LearnVest. “I know I could get more return investing, but I don’t know where to begin. I am frozen by my lack of knowledge and my insecurity that, at my age and income bracket, I should have a clue.”
A fear of losing their money keeps many women from growing their bundles. Another woman, for example, said, “I have a quarter of a million dollars in a savings account, earning the proverbial 1%. My parents think I’m ridiculous for sitting on this amount of cash.”
Even married women, who some might say are more financially secure because of shared responsibility, pale at the thought of managing their own portfolios. Fidelity’s bi-annual “Couples Retirement Study,” released in September 2013, showed that while women are growing increasingly comfortable handling day-to-day financial decisions, more women than ever are handing the reins to their partners when it comes to investing. And surprisingly, the younger the respondent, the more likely she was to feel unqualified to manage her own investments. A majority of women said that they had more confidence in a spouse to assume control of the finances, often chalking it up to the fact that “he’s better with numbers.”
“At the end of the day, it boils down to a crisis of confidence for women,” Lauren Brouhard, senior vice president of Retirement at Fidelity Investments, told LearnVest. “We think it’s a little ironic that women’s interest in financial planning is still low given their growing earning potential.” Given that women, on average, tend to outlive male spouses by at least five years and the high rates of divorce, it is vital that women become more investment savvy.
“What I generally tell clients is that before you consider investing, make sure you have a fully funded six months of emergency savings, and that you are maxing out your retirement accounts,” Brandie Farnam, a certified financial planner with LearnVest Planning Services, said. Also, pay down any high-interest credit card debt.
Next look at when you expect that you’ll want the money. After you’ve done all that you may want to consider investing as a way of growing your money. “The problem with earning 1% is that inflation grows at 3%,” Farnam said. “Your money needs to grow faster than inflation. Generally speaking, markets have averaged 7% per year. At that rate, every 10 years, your account should be doubling.”
Actually, Fidelity’s research shows that women who face their fears about getting involved in the market tend to be better investors than men. “They’re better planners, they tend to stay the course once invested, and they tend to take on less risk, so there’s lots of evidence that they’re doing very well,” says Brouhard. “We want to see that confidence spread.”