This article is good because it addresses a range of ages in the “newly employed” category. 5 Financial Tips for Newly-Employed Young People offers these ideas to best utilize money earned:
Save! Save! Save!
Learn to Budget
Get Creative
Avoid Debt
Ask For Help
Advice we should all heed, no matter where we are in our careers.
Ready for your European vacation? There are so many amazing places to visit and sights to see, but did you know that with these seven simple tips you can make your trip run more smoothly and even save money? Emma Miller on DailyFinance.com offers some great ideas in her article, Travel Checklist: 7 Money To-Dos to Tackle Before Your Trip. A must read before your vacation of a lifetime this summer!
In this 2013 article by Stacy Johnson, founder of Money Talks News, he shares ways to develop a spending plan for your life that will help drive you toward your goals. Stacy suggests thinking backward to specific, fulfilling experiences and creating your plan of action based on the happy moments in your life. Once you have a clear idea of what you want, the spending plan is no longer about deprivation but about achieving your dreams.
Ever considered consolidating your debt in order to make it more manageable? Do you have a list of each of your creditors along with how much you owe? Or have you ever wondered why you don’t have enough on a monthly basis for all the necessities? Then this article is for you! How to Pay off Debt: 6 Steps to Success. Debt relief is a simple process if you form a plan and stick to it and if you need it, I am always here to help!
Reading this article made me realize that small details are very important, but that it takes observant people who are willing to act to make them count. What this young mother did with a pizza order, got her the help she needed.
This is also true in the accounting business. Small details that could save/cost you money can easily be overlooked. It takes an attentive CPA with an eye for detail to best serve your business interests.
This article was especially interesting to me since I have an art gallery space in my accounting office. Of course, none of the works that I have exhibited fall into the category they are talking about, but imagine if you could avoid capital gains taxes all together through re-investment of your earnings from prior art sales. It’s the same principle as real estate purchases and has been growing in popularity recently, to the point where some “traders” are seeing art as a commodity. What do you think? Time to invest in some fine art?
Although this article is for recent college grads, there are plenty of great tips about understanding your credit score and how it works for and against you. For example, did you know that borrowing less than thirty percent of your available credit actually makes your credit score increase? Marilyn Lewis, in her article, 12 Ways for College Grads to Build Good Credit lays out basic steps to growing and maintaining your score as well as diversifying the types of credit you are using. Many believe paying in cash is an important skill to learn but a healthy credit score may be even more useful. So, every once in a while it’s a good thing to pull out the plastic and say, “Charge it.”
No one appreciates a hidden fee, but do you know exactly where your invested money is going and the amount of fees you are paying your broker? President Obama is currently pushing for new rules in the finance industry that would help put investors interests first. Of course, even the financiers need to make a living and have money for retirement, but just how skewed is their take versus your returns? Might be a good question to ask next time you’re in their office.
Ever not answered the phone because you knew it was a creditor trying to collect on your college debt? Over the last many years, education debts have increased while job opportunities declined. This has caused many people in the under-thirty category to be unable to follow the “usual” path of work, home ownership and family. Statics are showing that many people are overwhelmed by debt and underemployed leaving the economy in a precarious place as these groups continue to reduce their spending. How do we create affordable education and jobs upon graduation? And where will this vicious cycle end?
Using the closing numbers of the DOW as a measure of your financial fitness may not be as reliable as you might think. In Ron Lieber’s article, Time to Assess Your Financial Fitness, he shares a list of personal markers which may yield a more accurate view of your money’s growth. In the end, he offers this closing statement, “Aiming higher when it comes to saving is almost always a worthwhile goal. But building a safety net beneath you ought to be a higher priority in the new year.”