Personal Finance

Personal Finances

Getting Started on the Road to Financial Freedom

If you design a smart game plan and execute it consistently, you will be on the fast track to financial freedom in no time. 

To determine if your money is being managed properly ask yourself these questions:

Are you being paid fair wages? And are you spending more than you earn?
Compare your occupational skills with similar occupations in the industry. Can you see growing opportunities in the future or it is time to seek other employment?

If you are expending more than you earn then it is maybe a good idea to rid yourself of unnecessary expenses. That doesn’t mean you have to crimp your way of life. See it as an improvement that is beneficial to your future financial freedom.

Have you got a budget plan in place? If not, then it is time you make one and begin spending as per the structured finances laid out in your plan. To gain control of your finances, you must know exactly where your money is going.

Are you managing debt responsibly?
Credit card debt is the greatest hurdle to getting ahead financially. They are easy and convenient to use but you must know that if you do not pay your bills on time that you are living on borrowed money. You end up paying considerably more than the value of goods when late payment interest is accounted for. It just makes sense to pay immediately for purchases that you can afford and not take on any debt. Debt is a cancer eating away at your potential savings and future financial goals. Compose a list of expenses today, and then try to eliminate a few of them in the approaching month.

Have you invested in a saving plan as well as your retirement plans? Set a fixed amount of money aside for saving every month. Do not deviate from this amount. If you have difficulty saving this amount, try cutting your expenses to make up the shortfall or increasing your earnings. This is a powerful concept known as ‘Paying yourself first.’ Save at least 10 percent of your income at the start and increase the amount as you go along. When you get a wage increase or bonus, increase your savings accordingly. Once you have the savings habit ingrained into your psyche, then it will develop into an automatic and normal occurrence that you just do. Make use of the auto-saving feature or auto-investment plans that most financial institutions conveniently offer.

There are many free investment tutorials available to get you started investing. Take advantage of them right here on this site.

Knowledge and savings are the key to an even better lifestyle.


Getting Started on the Road to Financial Freedom
Screen Prospective Tenants Before You Rent Out Your Property
IRS announces 2013 Pension Contribution Limits
Help! Get me out of Debt.
What is my Credit Score?
Tips for Saving Money Daily
More Efficient Money Management in 5 steps
Estate Planning Precaution and Tips to Avoid Mistakes
Personal Financial Management Pays Real Dividend
Repairing Your Credit Score
A Simple Diversified Portfolio That is Easy to Manage
Commission Free ETF’s
The Key to Savings is Budgeting
Turn Repossessed Houses into Lucrative Investments

Personal Finance – Part 1 of 12

The Millionaire Next Door by Thomas J. Stanley

A simple diversified portfolio that is easy to manage

3 Funds for a Diversified Portfolio With so many funds to choose from, investors might get everything they need by buying just 3 funds. With over 8,000 mutual funds and exchange-traded funds to choose from, overwhelmed investors can make bad decisions by giving in to impulses chasing returns from the latest high flying funds right …

Commission Free ETF’s

Trading ETFs without a commission the smart way BlackRock, Fidelty, State Street, Schwab and other providers are now offering commission free ETFs. BlackRock Investments announced 9th July, 2013 that they and Fidelity Investments will be offering to double the number of commission-free iShares ETFs Fidelity offers to 65. Other ETFs can be bought for a …

Estate Planning Precaution and Tips to Avoid Mistakes

Estate Planning in 2013 & Beyond Under ATRA Take precautions and use these tips to protect your assets and estate, while lowering the risk of any open liabilities. Provide trust provisions for minor children as beneficiaries of your will. Update your will and testimony when you move to another country, state or change marital status. …

Financial Management Pays Real Dividends

Economics Education, Personal Finance, Student Loans and Mortgages You don’t need to be an expert to control your personal finances. By adopting a sensible approach and applying sound money management principles, you will improve your investment portfolio while simultaneously building your wealth. Go online, there are a lots of self help tutorials there that can …

Help! Get Me Out of Debt.

How to Get Out of Debt If you’re in financial crisis and your debt has grown to unmanageable proportions, then hopefully you’re ready to take action and get out of debt. You can begin eliminating debt and restore control over your life. Here are several tips that will assist you in getting you out of …

IRS Announces 2013 Pension Plan Limitations

IRA Retirement Calculator for 2012, 2013 IR-2012-77, Oct. 18, 2012 WASHINGTON — The Internal Revenue Service today announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in the cost-of-living index met the …

More Efficient Money Management in 5 Steps

Tips On How To Manage Your Money How successfully you manage your money will ultimately depend on your ability to take control of your financial affairs. Here are 5 helpful steps to help you achieve your goal: 1. Involve your entire family in the money management process. Engage your entire family in learning how to …

Repairing Your Credit Score

How to Improve Your Credit Score Repairing your credit is critical to recover from unexpected financial distress but also important before you begin on the road to wealth building. By gaining a fundamental understanding of credit repair, you will be able to navigate what may sometimes seem chaotic. If credit repair is your goal, making …

Screen Prospective Tenants Before You Rent Your Property

Find A Good Tenant If you own property and you rent to tenants, you know first- hand how difficult it can be to trust and choose good tenants. It is critical that you screen potential tenants before you decide to rent to them. Screening potential tenants is something that will save you time, money and …

The Key to Savings is Budgeting

Budgeting will do wonders for your financial security and it takes very little effort to create and maintain.Abudget is simply a tool for organizing cash flows. It really is possible to save money, pay off debt and still enjoy life. In the first few months it is essential to review account statements regularly and see …

Tips for Saving Money Daily

10 tips to reduce your daily expenses People are not aware of all the ways money slips through their fingers. Yet they’re not sure why they don’t seem to have enough. Paying close attention to your spending habits can save you  money by reducing impulsive purchases. Hopefully the tips in this article will help you …

Turn repossessed houses into lucrative investments

House of the Week: Koi Pond vs. Georgian Mansion A property in Great Falls, Va., with a 6-foot-deep koi pond and a contemporary home and a Georgian-style mansion believed to be designed by the designer of New York’s Gracie Mansion are two homes in the running for WSJ House of the Week. Photo: Mike Wilkinson. …

What is my credit score?

HOW TO RAISE YOUR CREDIT SCORE Thinking about applying for a loan and wondering why your interest rate is what it is? Your credit score determines your ability to repay your debts and how great of a risk you are to lenders. The higher your score, the better your chances of getting a good loan …