Basic Money Management Skills

Money. That which makes the world go round. It all boils down to the money that we have at the end of the day. Money determines the way we live, what we do, and basically every other decision of our lives. Without money, we are basically nothing. And that, I know, is something that no one will want to go through. So it becomes imperative that we earn well. But earning well is not the end all of everything. It actually begins from there. Money which is earned, needs to be managed well, so that we continue to benefit from it for a long time. And therein comes the part where we need to learn some basic money management skills. Because without these, we will not be able to develop effective methods of money management.

Most of us do not have the knowledge of what some of the most simple and effective money management skills are. So to help you out, this article shall provide you with just that.

Money management skills are not difficult to learn once you get the hang of how to go about it. Given below is a step by step plan

Financial Problems in a Marriage

It is said that marriage is the best thing that can happen to two people in love. It is true, provided the spouses understand each other and are aware of the responsibilities that come with marriage. However, married life can suffer a setback, if there are financial issues in a relationship and the partners do not work it out properly to solve these problems. In studies conducted by experts, financial issues have been included as one of the top reasons for a divorce. So, it is always better to be aware of financial problems, if any, and find effective ways to deal with them.

Monetary Issues and Their Solutions

Handling Finance
This is one of the basic issues that married couples face. They are not clear about whose salary should be used for household expenses and whose should go in for savings. Lack of planning leads to confusion, ultimately resulting in differences between a couple.

Solution: Couples should try different ways to handle their finances and check which one works the best for them. According to surveys, around 64% of couples have joint accounts, 14% of them have separate accounts, and 18% of couples have both joint

Financial Planning Tips For Couples About To Start A Family

Couples, especially newlywed ones, would usually enjoy a bit of financial windfall for the first few months or years of their marriage. This is mainly due to the fact that two people are now sharing the expenses on food, utilities, and other expenditures. There are also more opportunities for couples to save money since they have lesser expenditures to pay for.

This happy situation can easily turn sour though when couples are expecting their first child. With this new bundle of joy come various additional expenses that parents will sometimes find it hard to cope with their financial needs and even adjust their lifestyle.

Couples, though, don’t need to find themselves broke simply because they are expecting or already have their newborn baby. Below are some useful financial planning tips couples about to start a family can follow:

Start living a simpler lifestyle. It is not unusual for newlywed or childless couples to have date nights once or twice a week wherein they have dinner at a fancy restaurant and give each other lavish gifts. They will also go on vacations abroad once or twice a year because they want to get some rest and relaxation and because they “deserve it”. Unfortunately, all

How to Plan Financially for the Future

Well, living in today is alright but we also have to think about tomorrow and hence, it is important to plan for the future. Since there is apparently only one thing that seems to control the world, that is money, one has to plan his or her finances wisely to have a secure future after retirement. Though, everything that one needs to ‘live’ cannot be bought with money, certain things that one needs to ‘survive’ have to be bought in exchange for money. So, one has to carry out meticulous financial planning for the future. If you are also of the same opinion, then you must read this article further.

Financial Planning for the Future

Well, there are many things one needs to consider while planning for the future in terms of finances. Given below are some of the factors you need to look into:

Current Economic Status: You must analyze your current economic status including your annual income. It will give you a direction towards financial planning for the future.

Expenses: You must also consider the expenses you make on a yearly basis. It is suggested to make a list of your ‘needs’ and ‘wants’ and determine

Managing Your Finances After Buying Your First Home

If you are young and buying your first home, it can be a very scary time in your life. However, it’s also very exciting to think that you are going to own your property for the first time ever. This is truly the American Dream at work! Chances are, your mortgage payment will be more expensive than whatever rent you were paying before you were a homeowner. You may be worried about how to budget after you close on the house, but you will catch on quicker than you think. If you couldn’t afford the house, the bank wouldn’t have given you the loan, so get ready to crunch some numbers and enjoy the first year living in your new abode.

Pay Attention to Your Lending Officer

Before your loan is even approved, your lending officer should sit down with you at the bank and give you a quick run down of the numbers. If they don’t, you should ask them to do so, or find a lending officer that will; it’s totally OK to shop around for lenders, especially in this economy. When you meet with your lending officer, don’t be afraid to ask questions

Financial Planning for Women

Financial planning – the term in itself refers to making of concrete plans to improve your financial power. Now, unlike what some people may think, financial planning is not at all difficult, all you need is to be aware, think and calculate. After all, financial planning is a mathematics, which is rational and as simple as 2 plus 2 equals 4. So fear not, here are some tips, plans and some do’s, also some don’ts.

Now, here, I shall be taking you through some great investment and planning channels, plus some tips for planning your expenses well in advance. Financial planning for women involves handling two primary aspects related to personal finance, expenses and investment. When you receive your paycheck, there are two things that you can potentially do: one, use the money for essential expenses; and two, investment the money. Note that common savings is also included in expenditure.

Planning for Expenses

Personally, guys no offense, I believe that since women are capable and do manage one of the most difficult institutions in society, that is their family; they are better at handling expenses (not through credit cards), than most men. This was not a compliment,

How to Financially Survive the Wedding Season

Research suggests that attending one wedding can leave you $500 lighter (spending on yourself, your clothes, the gift, and other miscellaneous expenses). And this does not include travel expenses in case you have to travel to another city for the wedding. While insurmountable expenses are inevitable for the couple headed into wedded bliss, for the guests attending the wedding, the day(s) can be saved. You are obviously going to have to shell out a few bucks for the gift, your attire, and the parties before and after, but these can be controlled significantly by one simple measure – planning! Head into the wedding season without a plan, and you won’t know what hit your savings. On the other hand, a little planning, even though it may end up with you going slightly out of budget, will keep you within spending limits and help you get through the wedding season financially. To make a plan, consider the following questions:

How many weddings have you been invited to?
How many weddings do you absolutely HAVE to attend?
How many involve the same group of guests?
How many people are you close to among the guests?

Why is this

Career As a Financial Planner

With more and more people investing in the stock market, the demand for financial planners is increasing by the day. There is a lot of competition for jobs, with security brokers and dealers paying top dollar, for skilled financial planners. This profile is recognized by several names like financial planner, financial advisor and personal finance consultant, but it is rarely referred to by its ideal name: Financial Product Sales Representative.

Every small occurrence in our life has an effect on our financial planning, be it a thought to buy a car or start a new business. It is a famous misconception that financial planners are important only for businessmen, actors or other wealthy people, but in reality even the most average earner makes investments and takes the help of a financial planner for it.

Duties of a Financial Planner

These professionals make recommendations and give guidance to individual investors regarding financial planning. Financial planners have knowledge of tax laws and use it to provide tax advice.

Financial planners also help in estate planning. They use their knowledge to gauge the need for expansion of the estate or merger with another business entity. Every investment or expense goes through

Financial Planning Tips When Expecting a Baby

First time parents are expected to go overboard with preparations once their baby is on the way, be it expenses on baby clothes, accessories, nursery decorations, baby showers, etc. Shortly afterwards, the initial excitement wears down and the nine-month gestation clock starts ticking until D-day. This is when the realization of the extra cost of having a baby sinks in. This is the time when would-be parents start thinking about all the prenatal medical expenditure, expenses towards hospitalization and delivery, pediatric medical expenses, baby food expenses and money spent towards buying clothes, toys and education. I know the list is long and might seem like a money monster which will take away all the excitement of fine dining and shopping that you experienced before the baby came into picture, however, I wish to assure you that some of the financial planning tips listed below will surely ease your journey.
How to Save Money When Expecting a Baby
One of the biggest expenditures for children generally happen to be towards their education. But even before your baby is born, there are heaps of expenses to be dealt with. Here are some ideas to help you

Personal Finance for College Students

College is often a student’s first experience with total independence, and the natural tendency is toward hedonism. You will undoubtedly spend the first month or so methodically doing all the things you could never do at home. This is totally fine and completely natural (but keep it safe, guys) – as long as you calm down and get to work once the rebellion is out of your system. Because now you have to act like a grown-up person, with finances and everything.

Seriously, it’s incredibly easy to graduate college with a mountain of debt, and don’t assume you’ll snag a high-paying job right away – you won’t. So you’ll most likely be underemployed, badly paid, with crippling monthly bills. Then six months later, your student loans come due. Of course, you’ll get a promotion or a better-paying job eventually, but in the meantime, those bills are still due. It’s better to just avoid the debt in the first place.

Avoid Loans

Avoid student loans like the plague. Apply for grants, chase scholarships, work and save, do whatever you have to do to avoid loans. If you can’t afford your dream school without them, look into cheaper schools.