From our home to yours we wish you a healthy, happy and safe Holiday Season.
22 December 2009
19 December 2009
Top 10 - End the Year on Top
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Top 10 Things to Do Before January 1
1. Go through closets, drawers and boxes - donate and help others. (get a receipt for a tax deduction)
2. Create a Will. Every person needs one. It is a gift to your loved ones. You can set one up at Legal zoom or contact an attorney.
3. Review the past year and set goals for the new year.
4. Set up a designated driver for any holiday outings.
5. Make any doctor appointments before your deductible renews.
6. Review expenses, spending, savings and debt. Make a plan to be debt free in 2010. Spend less than you earn and remember to pay yourself first.
7. Live your passion. Break the cycle of debt and spending so you can do the things you love.
8. Get a new skill, certification or degree. In the ever changing world, chances are you will have more than one career. Prepare ahead of the layoff or boredom.
9. Volunteer. There is nothing better than helping others. You will get more out of the experience than you give.
10. Change your thinking and attitudes about money and instant gratification. A few changes can change your life, future and relationships.
Wishing you all a safe and healthy Holiday Season.
Stephenie, Mary and Stefan
15 December 2009
Tuesday's Tips
Because the shopping season in upon us there are some things we should always be watching for. These tips will hopefully save you some money this year.
1) Look to see if anything you've purchased is on sale. If it is then take it back to the store for a price adjustment. If it's on sale at another store take it back to your store and see if they'll price match. If they won't then try returning it and buying it cheaper at the other store. I've found that a few gifts I've purchased are now on sale and I've either had the price adjusted or matched on those items. It's saved me around $40 and only cost me half an hour of my time.
2) Don't spend if you don't have. Simply put, if you don't have the money in your account to cover a purchase, you don't need to be making the purchase. This time of year is when most people rack up credit card debt, and that needs to be avoided. Your friends and family should understand that you weren't able to spend a ton because you didn't want to end up with bad debt. Just be careful with those cards because it's easy to get caught with a bill you can't pay off.
But remember most of all to ENJOY the holiday's! Whatever you celebrate make sure it's with people you care about.
I'm on another 168 hour break, so until then Stay Tuned...
1) Look to see if anything you've purchased is on sale. If it is then take it back to the store for a price adjustment. If it's on sale at another store take it back to your store and see if they'll price match. If they won't then try returning it and buying it cheaper at the other store. I've found that a few gifts I've purchased are now on sale and I've either had the price adjusted or matched on those items. It's saved me around $40 and only cost me half an hour of my time.
2) Don't spend if you don't have. Simply put, if you don't have the money in your account to cover a purchase, you don't need to be making the purchase. This time of year is when most people rack up credit card debt, and that needs to be avoided. Your friends and family should understand that you weren't able to spend a ton because you didn't want to end up with bad debt. Just be careful with those cards because it's easy to get caught with a bill you can't pay off.
But remember most of all to ENJOY the holiday's! Whatever you celebrate make sure it's with people you care about.
I'm on another 168 hour break, so until then Stay Tuned...
09 December 2009
Thank you Southern Connecticut State University
Thank you Southern Connecticut State University for a great evening Monday December 7, 2009. I enjoyed meeting and presenting to your student body.
Where do I invest my small amounts of money I am saving?
For young adults this couldn't be a better time. The market is low and you have time. All you have to do is ACT!
What are you waiting for? T Rowe Price has an account you can start for $50 a month or $1000. If you go with the automatic account builder it will help you make small changes so you can continue to contribute every month. We are talking $12.50 a week. One less fast food meal and speciality coffee a week - will start to build you wealth and security.
Basic Rules for Investing in an IRA
1 Need earned income
2. 2009 limit $5000, if over age 50 $6000
3. Can not contribute more that you earn
4. Roth IRA is normally the best choice for young investors
5. Investment - research all in one funds/target retirement date
T. Rowe Price gives an excellent data sheet on the differences and eligibility for IRA investing. If you have concerns feel free to comment on the blog and I will be happy to answer your questions.
After much research T Rowe Price had the lowest minimum to get a new investor started. Other discount firms such as Fidelity Investments had a minimum of $200 amount on an automatic account builder and Vanguard had a $3000 minimum. All the above companies have licensed representatives available to answer your questions and assist you. They are all salaried and not on commission. This keeps fees low and the representative from pressuring you into a product you don't need. As always check with a financial professional prior to making any investment decisions. Happy Investing...
Stay tuned................
Where do I invest my small amounts of money I am saving?
For young adults this couldn't be a better time. The market is low and you have time. All you have to do is ACT!
What are you waiting for? T Rowe Price has an account you can start for $50 a month or $1000. If you go with the automatic account builder it will help you make small changes so you can continue to contribute every month. We are talking $12.50 a week. One less fast food meal and speciality coffee a week - will start to build you wealth and security.
Basic Rules for Investing in an IRA
1 Need earned income
2. 2009 limit $5000, if over age 50 $6000
3. Can not contribute more that you earn
4. Roth IRA is normally the best choice for young investors
5. Investment - research all in one funds/target retirement date
T. Rowe Price gives an excellent data sheet on the differences and eligibility for IRA investing. If you have concerns feel free to comment on the blog and I will be happy to answer your questions.
After much research T Rowe Price had the lowest minimum to get a new investor started. Other discount firms such as Fidelity Investments had a minimum of $200 amount on an automatic account builder and Vanguard had a $3000 minimum. All the above companies have licensed representatives available to answer your questions and assist you. They are all salaried and not on commission. This keeps fees low and the representative from pressuring you into a product you don't need. As always check with a financial professional prior to making any investment decisions. Happy Investing...
Stay tuned................
01 December 2009
Tuesday's Tips
Good morning future (or current) millionaires. Today's tips are a review of some basic GenM ideals.
1) Pay yourself first. Don't be afraid to save. Some people will tell you that there is no need to save more than 5% in your 401K or retirement fund. Try to tune them out. Put away around 15% if you can. If you start out putting that much away, and learn to live off of the rest of what you earn, then you will be much more comfortable when you retire. If you think that's way too much then pull out a growth calculator and crunch the numbers. Look at the difference between putting away $1,500 every year and $4,500 every year over the course of 40 years at 8% interest. The difference between the totals is astounding. Believe me if you save today you'll be able to live financially free in the future.
2) Keep credit cards under control. Never carry over a credit card balance. If you don't have the money to pay for something and your solution is to use a credit card then don't do it. Obviously emergencies come up every now and then, but if you can't pay for the new clothes you want then don't buy them. Keeping credit card balances and paying the minimums on them is the fast track to big debt. Once you get in it's really hard to get out. Plus keep in mind that prospective employers, banks, and other people look at credit history before making decisions and bad credit can and will hurt your chances of getting that job or loan. So don't have tons of lines of credit and keep the balances paid off. You'll be happier this way.
Well I'm off to spread the financial good news to others, so I'm on a 168 hour break.
Until then, Stay Tuned...
1) Pay yourself first. Don't be afraid to save. Some people will tell you that there is no need to save more than 5% in your 401K or retirement fund. Try to tune them out. Put away around 15% if you can. If you start out putting that much away, and learn to live off of the rest of what you earn, then you will be much more comfortable when you retire. If you think that's way too much then pull out a growth calculator and crunch the numbers. Look at the difference between putting away $1,500 every year and $4,500 every year over the course of 40 years at 8% interest. The difference between the totals is astounding. Believe me if you save today you'll be able to live financially free in the future.
2) Keep credit cards under control. Never carry over a credit card balance. If you don't have the money to pay for something and your solution is to use a credit card then don't do it. Obviously emergencies come up every now and then, but if you can't pay for the new clothes you want then don't buy them. Keeping credit card balances and paying the minimums on them is the fast track to big debt. Once you get in it's really hard to get out. Plus keep in mind that prospective employers, banks, and other people look at credit history before making decisions and bad credit can and will hurt your chances of getting that job or loan. So don't have tons of lines of credit and keep the balances paid off. You'll be happier this way.
Well I'm off to spread the financial good news to others, so I'm on a 168 hour break.
Until then, Stay Tuned...
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