You also must make choices about how you spend money. For example, would you buy the $129 pair of sneakers you saw at the mall or save that money? You cannot do both, because most people have a limited amount of money. To help make choices, consider the time value of money, which is the increase of an amount of money due to earned interest or dividends. (more…)

Future value is the amount your original deposit will be worth in the future based on earning a specific interest rate over a specific period of time. Figure out how much your savings will earn and grow by multiplying the principal by the annual interest rate and then adding that interest amount to the principal. (more…)

In examining your financial condition and setting financial goals, you succeeded in nailing down where you are and where you’re going financially. But it’s important that you conduct these exercises at least annually. Keep the cash in a checking account, and watch it disappear! Wouldn’t it be better to put all the money you’ve saved on that extravaganza toward financing your child’s pay college education? (more…)

If your debt problem is not totally out of control, why not handle it yourself? It never hurts to ask lenders to lower your interest rates. Interest rates typically are not reported to credit bureaus. Some lenders may lower the rate to keep your business.

Do you want to be debt free? Do you want to be to travel the country and around the world without having to pay the bills? (more…)

Throughout your life you will have many different financial needs and financial goals. By learning to use your money wisely now, you will be able to achieve many of those financial goals.

Financial planning involves choosing a career, and then learning how to protect and manage the money you earn. (more…)

Of course, the flip side of the cut spending/savings is to increase your income. There are some fast fixes to add money from your fixed monthly salary. We urge you to be sure to add some targets to get some sources income. Here are just a few to consider:

• Ask your employer for a hard-earned raise. Visit www.careerjournal.com to document average wages for your line of work. Gather hard numbers to present to your employer. (more…)

We can all make it out of this recession, but we all must do our part to get out of it. George Clason wrote in the foreword of his book The richest man in Babylon: Our prosperity as a nation depends upon the personal financial prosperity of each of us as individuals.

It is easy to point the finger to everyone about the economy, but are we doing what needs to be done in our own yard? We hear expert telling us to saving money for the future and others telling us to spend for the economy. Who is right? In my opinion, they both are. The problem is not that we save money too much or spend too much. The problem is that we dont save or spend at the right places. (more…)

Personal individual risk profile is having close in relation to the choice of where your savings and the decision when the best time of investment. This will provide an introduction to the more detailed examination of these subjects closely. (more…)