People today are more responsible for their own retirement income security. Over the past 15 to 20 years there has been a shift in responsibility for long-term well-being away from institutions (employers, the government) to individuals. For example, in 1980, 70% of pension plans were defined contribution (DC, as opposed to defined benefit plans; DC plans shift more of the responsibility for the growth of retirement funds to the consumer); by 1997, 92% of plans were defined contribution (Conte 1998). In 1988, one-fourth (25%) of workers were covered primarily by DC plans; in 1998, over three-fifths (63%) were covered by such plans (Copeland 2002). (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…)

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…)

There are plenty of good reasons to save your money away for a rainy day. Because you never know what’s coming and when the unexpected happens, it’s great to be financially ready. Its so much better to save money while you’re making money than to struggle and panic when your income dries up.

Many people never save a penny. (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…)

When you loan money or charge an item to a credit card, you are using cash loan or credit. Credit is an arrangement to receive cash, goods, or services now and pay for them in the future. Consumer credit is the use of credit for personal needs. It is also an indicator of consumer spending and demand. A common form of consumer credit loan is a credit card account issued by a financial institution. (more…)