2018 SOFTWARE


Top Financial Tips for Millennials

By Patrick Redo

Are you a millennial who feels overwhelmed trying to manage your finances? Are you getting the most out of your money? Financial literacy is not often taught in schools and they don't do a great job preparing their graduates to manage their finances. So when you're out of college and start real life, it can be a little overwhelming and it is easy to get yourselves into debt and other financial trouble.

Most millennials are currently in their 20s and 30s - a time when many young people are ready to make major financial decisions in their lives, like home ownership, long-term investment activity, etc. If you're currently a part of this generation here's your crash course on what you should do to improve your financial wellness:

Take online financial courses

Since most young adults have the propensity for technology it is suggested you take a few basic online courses in economics, accounting, and any other financial topics that may be of interest to you.

Embrace Technology

When it comes down to managing your money there is probably an app. To help you do that. These apps. Can categorize your spending habits and help you manage your spending. These insights can help you save money each month and then transfer that money directly to your savings. Online financial apps can help you make a workable budget for your lifestyle and ultimately change your net worth.

When it comes down to managing your money there is probably an app to help you do that. Mobile apps like Clarity Money can help you track any wasteful spending habits. Digit and Stash can recommend where you can save money each month and then transfer that money directly to your savings. Online financial apps can help you make a workable budget for your lifestyle and ultimately change your net worth.

Examine Your Current Bank Accounts

Are you paying fees? If so, for what? Monthly maintenance and minimum balance fees should never be a fee on your account statement. Free checking accounts, are available, especially at credit unions and these accounts will help you keep more of your own money in your pockets. So don't settle for anything else.

Build Your Credit and Understand the Impact of your Credit Score

Early on, you may only have a student loan or a credit card on your credit report. But now it's time to start building your credit. Ask your credit union about a Credit Builder Loan to help jumpstart your credit. And if you already have some active loans, make sure you're making payments on time every month. You'll need that good credit history when you want to make big purchases in the future like a car, rent an apartment, or get a mortgage for your first home.

It's also important to know that if you are planning on opening up a business your personal credit may be the defining factor in your ability to access necessary working capital.

Repay Debt Tactically

Since we are on the topic of credit, a lot of young adults have credit cards with very high interest rates. Focus on paying off those debts first! If possible, transfer those balances to a lower-rate credit card. It's much easier to pay down debt when more is going toward the balance.

Track everything to obtain your whole financial picture

Just as businesses manage their cash flow, individuals need to do the same by tracking their income, expenses, assets and liabilities. There are many online tools to help you like Mint, Quicken and Personal Capital.

Build an Emergency Fund

Unplanned/unfair/unfortunate events can happen in the blink of an eye. You may get in a car accident, have unforeseen medical expenses or lose your job. That's why it's important for everyone to have an emergency fund. The best way is to set up an automatic savings plan where you pay yourself first by depositing a portion of your paycheck into a separate savings account. If you forget it's there you won't be tempted to spend it.

Create a Long-Term Savings Strategy

An emergency fund is a short-term strategy, but you also can't forget the big picture. Does your employer offer a matching 401(k)? If so, be sure to take advantage of that opportunity. It's fundamentally free money, and it's an investment in your future.

Get yourself a financial mentor

Even though there is an overabundance of information and apps on the Internet to help with your financial security, it is far superior to pick the brain and bounce questions off a trusted friend or colleague. Their pertinent insights will most likely be tailored to your specific requirements.

Use these financial tips listed above to get your finances on track while you're still young. You've got a bright future ahead - so start now and stick with it. Your financial well-being will thank you! Although these tips are targeted at millennials, they're useful for all ages.

There are many resources to help you make smart financial decisions. allU.S. Credit Union can be a resource when making big decisions or contemplating a loan or new credit line. Money desktop, which is included for Free as part of Jazz Banking, can categorize your spending habits and help you manage your spending. Even if your only goal at the moment is to pay your bills and save a little each month, utilizing things like money management apps like Money Desktop illustrate to you how far your money can actually go. For more money saving approaches find us online at https://alluscu.com.

2019 CALENDAR


3 Keys to a Successful Budget

By Latonia Price 

Many people may not agree but having a budget in place can truly help reduce overall anxieties and stress in life. We can't predict what the next minute will bring. However, we can do our best to plan proactively versus reactively. I do recognize every household is different. But I do believe most households strive for maintaining stability to the best of their ability. Here are 3 keys to successfully maintaining a budget (no matter if you're a single or family household):

1.            Consistent income. I know this may seem like a 'duh' statement but having consistent income flowing into the home will help meet target budget goals. I know there is a huge entrepreneurial boom happening and that's awesome! I too have started the path of developing my business. However, I am in a season where I still need my 9 to 5. And it's by choice! No, I'm not afraid to quit my job. Based on my situation, our household needs this full-time job. I've been with the company for almost 14 years now and provides great medical benefits for our household. That's important because of the medical conditions within our household. I understand starting your own business, being a freelancer, or taking a number of contractor jobs as a great way for flexibility and freedom. However, if you continue to find yourself complaining about your financial situation, then its best you find you a more permanent J.O.B!

2.            Intentionally perform better spending habits. This may include writing down the budget and stick it on your fridge to remember what bills are due. I develop the budget for our household and my husband gets frazzled if I don't put that budget on the fridge! It's not that he doesn't already know because most of our bills are consistent but he likes to see it. But we must be intentional about having better spending habits. Call it a routine - discipline - habit - I don't care! The point is be intentional and consistent.

3.            Put your money where it's not always easily accessible. Some people do well with having a savings account with their checking account. They can go online, see money in their savings, and not be tempted to spend it. However, others don't have that same power to resist. And that doesn't make that person weak! That person must admit that weakness and combat it by putting their savings money in an account they can't always see. This may mean finding other online banks to start a savings account. Some actually offer great interest rates and a low initial deposit to open the account! I encourage anyone who is serious about saving to seek a different bank if they are serious about saving money.

There a many more keys to having a successful budget. Don't be afraid to seek advice from people who do well with budgeting and saving. Learn from others and you will be on your way to having a successful budget too!

As a Christian wife, author, and empowerment speaker, I just want to help others live a life where they can unleash their supernatural abilities for unlimited possibilities. Be sure to visit my website, http://www.latoniaprice.com.




How to Stay Out of Bankruptcy

By Norma Holt 

Many want to use the law surrounding bankruptcy to avoid paying off their debts. In the long run, however, what does it achieve other than a bad reputation? People that have a history of such are tainted and may find getting loans and things from banks harder if not impossible. Clever business people use bankruptcy because they profit from it when moving money into positions where it can't be touched. That is not the right thing to do.

Some billionaires have risen above others by avoiding payment to contractors and others who have supplied them with goods, such as buildings or vehicles. They moved their money into trust accounts or created off-shore accounts where such was drained off over time. Some also use a spouse or partner to gift money to while their business was operational.

The problem is they have left others to face bankruptcy who they then refused to pay. These are usually the contractors and their sub-contractors that usually involve small family businesses that cannot sustain big losses.

Money is an invention for power and some think that the world owes them so they don't care who they hurt in their rush for the biggest slice of wealth. So how does the little guy avoid going into bankruptcy.

Years ago this was a problem faced by me when a shift in the economic security of Australia saw an inevitable depression hit my business. It was heightened, however, by a break-down of marriage and three teen-age children dependent on me. The situation was extremely dire as I owed money to many that could not be paid back.

Working my way through it was the first step. Securing a job that took me inter-state and gave me the opportunity to avoid debt-collectors and others allowed me to repay all the debts over several months. Because of making good on them no one pursued me. That is probably the best lesson one can learn from being honest.

My father reared me with this thought "if you never tell a lie you won't get into trouble." To me bankruptcy when one could and should repay people is a lie. The ones to whom my business dealt were honest, hard -working, and responsible folk. What right does anyone have to deny them their just rewards?

Before one declares bankruptcy think of the consequences. If everyone stops paying their bills the world of finances will also cease. While money is an invention it is the basis on which the World Order stands. If it crumbles so does everything about our civilisation. So instead of bankruptcy choose a better way and repay debts, even if it takes months to do it.

Norma Holt has researched to establish why Money is the root of evil. It is largely based on the work of 666. He enforced the powerful weapons of heaven and hell to dominate the establishment he put in place.


Planning For Emergency Financial Situations

By Daniel Joelson 

Emergency financial situations can happen to anybody and any financial arrangement exercise is not ideal without planning for such occasions. The whole idea of having an emergency fund is to offer a cushion against any unexpected expense.

This will ensure it does not have any negative impact on your financial condition and does not rip off the whole financial security.

There are many circumstances which can cause a financial emergency such as a sudden illness, accident, medical emergencies, emergency house repairs, loss of a job, emergency car repairs and much more.

The major reason for having an emergency fund is very clear because when a person falls into an emergency financial situation, they will have to break their savings or make a compromise to get the needed money.

It's not rare to find people who just take out their credit card and swipe it for hard cash. Opposing popular opinions, credit cards are the worst way to fund any financial emergency. The fastest way to get thousands of dollars its to get a car title loan it is not a long-term solution but a short-term solution.

In a circumstance where you've taken a cash advance with your credit card to get the needed money, the credit card company will charge you a cash advance fee with an interest rate. This is a very costly way to borrow and manage finances for emergency situations.

Therefore, what is the best amount that should be set aside as emergency money? There are diverse opinions on it. Some professional's experts agree that a minimum of 3-6 months' worth of monthly income should be set aside for an emergency situation. This amount can differ according to marital status, the size of family and lifestyle.

Everyone must reserve some extra cash in case of emergencies. But, the amount to reserve depends on your income and monthly expenses. The amount that is needed for your emergency fund is open to debate, the minimum amount should be sufficient to cover your expenses for daily living for at least 3 months. It's also ideal to save for 6 months even though some financial advisers agree on a full year worth of cash.

These funds must be kept aside in an instrument, which is easily available when needed. It could be money in a bank account, hard cash, liquid funds or fixed deposits. This will ensure the fund is always accessible instantly or within a short period when it's needed.

Where to Keep the Cash

Your situations and what can offer you peace of mind are the factors that can help you determine how cautious you want to be. Keep your emergency fund somewhere that is safe and accessible because you may be required to get the cash in a hurry when an emergency arises. The best option you've is to open a money market account or savings account. But, always examine their offer with regards to the interest rate, minimum balance, and other terms.

When you think you've saved enough, you can stop. You can now sleep easier and try to start placing your extra saving into higher-interest and less accessible accounts or investments.

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