Do you know what do couples fight about? The answer is always the same for every couple: financial matters. In the marriage, you could spend a lot, while your partner wants to save money. How to avoid financial arguments in married couple? Avoid financial arguments requires couple to have discussion before getting married. Both should be sharing their needs and financial goals and develop plan for spending and saving money. (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…)

You can also use present value calculations to determine how much you would need to deposit so you can take a specific amount of money out of your savings account for a certain number of years. This is knows as series of deposit. If you want to take $400 out of your account each year for nine years, and your money is earning interest at 8 percent a year, how much money would you need to deposit now? Part D of Figure 1.4 will help you find the answer. Find Year 9 in the left column and look across to the 8 percent interest-rate column. The value given is 6.247. Multiply this value by the amount of money that you want to take out every year:

$400 X 6.247 = $2,498.80

You need to deposit $2,498.80 now to be able to take out $400 each year for nine years. This calculation is used for retirement.

Some savers and investors like to make regular deposits into their savings. You can also do the same to increase your savings. A series of equal regular deposits is sometimes called an annuity. Use Part B of the chart in Figure 1.4 (future value of a series of equal yearly deposits) to find out the future value of $1,000 a year at 5 percent annual interest for six years. At the end of the six years, you would have $6,802:

$1,000 X 6.802 = $6,802

When money is easy to reach, we can easily solve our problems and live a happy and successful life. But this is not always the case. Money is a sensitive issue. Saving some extra monies particularly when in economic downturn is critical and challenging. You will find in bellow article how to save money effectively and the important of saving money.

If you’re not careful about your money, you could sacrifice a life of debt and living below poverty. (more…)

Increasing your savings is the key to establishing a sound financial future. The more you save, the better you will be able to handle unexpected emergencies and the sooner you will be able to meet your financial goals. If you save large amounts, it may be possible for you to retire comfortably and to send your children to college. Best of all, money that is saved earns interest income. (more…)

If you look clearly under tax code in the Uniform Gift to Minors Act (or UGMA), when you put assets or securities in a savings plan for a child (commonly it is your child or grandchild that you want to support. The account is registered on behalf of children and one adult (parent or grandparent). These adults are responsible for the investment and asset management. The securities or assets actually belongs to the child. Once the child reaches age of 18 years (in most states), he or she then takes control of assets. (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…)

Economic factors across the country and around the world can affect personal finances. They play a role in day-to-day financial planning and decision making for most people. Economics is the study of the decisions that go into making, distributing, and using goods and services. The economy consists of the ways in which people make, distribute, and use their goods and services. To understand economics and the economy, you need to be aware of the market forces, financial institutions, global influences, and economic conditions that affect global as well as personal decisions. (more…)

The first thing when setting financial goals automatically should be an emergency savings plan fund designed to cover six months’ worth of living expenses. Make sure it’s enough to cover any emergencies—like a job loss, car repair, medical or dental expense, or natural disaster. This way, you won’t have to tap those high-cost credit cards crisis! Plus, if you have any investments, you won’t be forced to cash them out when they’re down in value. (more…)

Current economic conditions also affect your personal financial decisions and how economic conditions can influence financial planning. There are three important economic conditions: 1. Consumer prices, 2. Consumer spending, 3. Interest rates

Consumer Prices (more…)