Money Management for Seniors: A Financial Planning Workshop

Money Management for Seniors: A Financial Planning Workshop

Money Management for Seniors: A Financial Planning Workshop

Please join us for a presentation on the basics of wealth management in retirement. In this interactive workshop the presenter will answer your questions on managing money during retirement; planning for retirement; estate planning; Social Security and … Continue reading at westseattleblog.com

Are Americans finally getting smarter about money?

Over the past decade, Americans got a crash course in money management. The financial crisis and the great recession offered a ton of lessons-the dangers of debt being a big one-while making it impossible to ignore the topic of finance. That’s still the … Continue reading at dailyherald.com

LA, Minneapolis best cities for money management skills

Consumers in Los Angeles manage their money better than their peers in other big U.S. cities, a study by CreditCards.com found, while Baltimore residents fared the worst. The study compared average credit scores in the 25 most populous metropolitan areas … Continue reading at finance.yahoo.com

Money Management

Early money management is key to plugging millennial savings gap

It is a common catchphrase many UAE-based expatriates hear on repeat from their friends and family at home: "You must be saving a fortune out there!" The truth of the matter is, when millennial expatriates arrive in the UAE, it is somewhere between … Continue reading at gulfnews.com

Centra combines money management with family bike ride

COLUMBUS - Centra Foundation will host its "Smart Money Family Fun Bike Ride" Saturday, Aug. 6. The ride will start and finish at the Columbus Municipal Airport. The morning event, however, is more than just a bike ride, information from Lyn Morgan … Continue reading at greensburgdailynews.com

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Money Management

15 Money Tips You Should Ignore

Don’t ever go into debt. Conventional wisdom says debt is always bad, but it can be useful for some money management strategies. “Some people don’t want any debt, and there are others who are totally comfortable leveraging debt,” says Margaret Paddock … Continue reading at money.usnews.com

Learn Year-Round Money Management Habits for Smooth Sailing on Tax Day

You're a #girlboss who has started her first creative business. We all know that successfully navigating through the early years of entrepreneurship are crucial. Which is why we've created a business track of online classes. Taught by some of the best … Continue reading at brit.co

People in This City Are Best at Managing Their Money

You also might have better money management skills than many of your urban counterparts around the country. That's according to a report released Thursday by CreditCards.com, which ranked the residents of the City of Angels top in the nation at managing … Continue reading at time.com

Use This Easy Trick to Manage Your Money Without Doing Any Math

Even if you have enough cash, disorganization makes money management tough. And, frankly, just thinking about it makes me anxious. Read Jim Wang's description from Wallet Hacks, for example: "After a few years, I had a dozen checking accounts. Continue reading at thepennyhoarder.com

Sorry, Dallas-Fort Worth: We’re bad at managing money, and have terrible credit scores

DFW comes in as 7th worst for money management, according to CreditCards.com. On top of that, people in San Antonio and Houston are (slightly) better at managing money than DFW residents. The study looked at average credit scores and adjusted for … Continue reading at dallasnews.com

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Financial Planning for Beginners Video

Personal finance covers a wide variety of money topics including budgeting, expenses, debt, saving, retirement and insurance among others. Understanding how each of these topics work together and affect each other is important for laying the groundwork for a solid financial foundation for you and your family.

Budgeting

At the very basic level of personal finance you are dealing with a budget; you make money and then you spend that money. Even if you haven't created a detailed and written budget you continue to budget on a daily basis. When you are faced with spending money on something you think about it and realize that by spending that money you will not be able to spend that same money on something else.

Cutting Expenses

After you have created a budget you can begin to see where expenses may need to be reduced in order to meet your goals. For some people this means eating out less and for others it could mean getting rid of that extra vehicle. Whatever the case may be, everyone has an area or two where money can be saved by reducing some basic expenses.

Getting Out of Debt

Even after creating a sound budget and cutting unnecessary expenses you may still find yourself with lingering debt to get rid of. Financial leverage, or using credit and taking on debt by itself isn't necessarily a bad thing but there are two kinds of debt: good debt and bad debt.

When you borrow money to purchase a home you are taking on a lot of debt, but lower interest rates and the purchase of an asset that can increase in value is an acceptable form of debt. On the other hand when you go to the mall and have yourself a shopping spree using your credit card with a 24% annual interest rate without paying it off in full right away is bad debt.

Getting out of debt doesn't have to be difficult but it is essential in reaching a state of financial independence. The first thing to do when you find yourself in debt is to pay more than the minimum monthly payment. If you only pay the minimum each month it will often take decades to repay the debt and cost a small fortune in interest. Once you are paying more than the minimum you should look to lower your interest rate. High interest rates will make getting out from under the debt even more difficult.

Saving for Retirement

With fewer companies offering full pension plans and the uncertainty of Social Security it has become more important than ever to save and plan for your own retirement. Unfortunately many people feel that they simply don't have enough money left over each month to save.

Retirement savings needs to become a priority instead of an afterthought. The Internal Revenue Service has made saving for retirement even more attractive with special tax-advantaged accounts such as employer 401(k) plans, individual retirement accounts and special retirement accounts for the self-employed. These allow for tax deductions, credits and even tax free earnings on retirement savings.

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Money Management

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