Personal Finance Blog

Budgeting money for yourself may be hard, but wait until two, four, or even more hands start reaching for your wallet. There are many tips for the budgeting and stretching of your hard earned dollars for an individual, but fewer strategies exist for the budgeting of family expenses. Many a man has quipped about giving the paycheck directly to the wife, while having only butterflies, dust, and possibly a receipt for a soft taco from 1983 in their wallet. However, through communication and sound budgeting, a family can avoid financial disaster. As a matter of fact, money is one of the, if not the leading cause cited relating to marital problems resulting in divorce.

Credit cards became popular during the eighties and nineties. At some point, credit cards have also became an essential part of the daily American grind. From credit-card only payment found online, to the convenience of not running in to pay for gas, to the rummaging for change to pay for a burger, credit cards have become second nature to paying for every cost imaginable.

Current census estimates place US adult population around 287,524,305. Of those, more than half own at least one credit card.

Getting credit card applications used to happen exclusively through the postal service and credit card agents stationed at tables around college campuses. Advances in technology and security have made it possible to apply for a credit card online, and every piece of junk mail offering you more can will have a web address to apply for “a decision in as little as 30 seconds.” So, how is it that these applications have moved online, how safe is it to apply for a credit card online, and how can I still get cool perks or a freebie if I apply online are the three major questions that arise.

Credit card consolidation offers many Americans an escape from a mountain of high APR maxed out credit cards. The guiding principle for consolidation is to gather up all those individual credit card balances, or at least some portion thereof, into one larger obligation. Ideally this obligation, to be a good credit card consolidation offer, will have lower APR, and a longer repayment term. Although, this is not always the case. Even if the APR was nominally higher, your credit card payments could be stretched out over time to reduce the monthly minimum if you’re trying to stop collection calls.

Getting credit card offers in the mail is one thing. Actually filling out these forms and getting credit extended on your behalf is another. For those out there with excellent existing credit, equity, a steady work history, and a healthy bank balance, it’s easy. But what about the rest of us? For those who want a credit card and have bad credit, getting the first credit card can be as hard as squeezing blood out of a turnip. So where do you start?

Buying a new or used car can be a hair pulling event. After the initial surge of elation passes, and the new car smell fades, you’re left with a large piece of metal in your driveway. Avoiding some of the common pitfalls of car buying can help you save money and maximize the car buying experience.

Before committing to buying your next car, research your particular needs, personal finances, and potential candidate cars. Make preliminary decisions about what you are going to buy before you step outside the door. In fact, a very tech savy user could save thousands on a new car purchase by buying online. The reason? You are LESS LIKELY to get suckered by a slick car salesman.

With software packages to address and help you plan everything from typing an email to scheduling your dog’s next grooming there is no surprise that a myriad of financial planning software exists. Selecting a financial package that best addresses your needs can be challenging.

To help you identify your financial planning software needs, first you have to be aware of the particular types of software available. Second, you need to relate what software package will best meet your needs. Lastly, you need to test and review the software. Good financial planning software will be easy to use, functional, and something that you actually do use.

In one word, “Yes.” The very job function of every financial planner is to take an in-depth look into your personal situation, assess your resources, and help you develop a strategy to grow your finances throughout your working years. They will work diligently to help you establish a sound retirement plan.

As part of that, their first step is to identify financial areas where you are spending money. They will often offer tips on reducing your “latte-factor.” This financial term refers to the purchase of small items that add up over time. Additionally, an effective financial planner will often suggest strategies such as refinancing big-ticket financial obligations. They are trained in the art of managing your money.

Money financial planning for college students is the hardest course during an undergraduate degree. It is often overlooked, as there is no classroom cap, and no GPA on your transcripts.

However, unless you want to be asking people to send you your latest eBay purchase using Ramen Noodles as packaging material, budgeting your limited cash flow is essential. College can be an time of extraordinary debt accumulation, thanks to easy-credit, government backed loans, expensive textbooks, and of course, for some partakers, BEER.

The following tips offer college students some practical financial planning advice.

Debt consolidation… Two lovely little words that are hyped as the panacea to all your financial woes. How do you know if consolidating your financial liabilities is right for you? One basic indicator that you need consolidation of your debt is simple: your debts exceed your income. Now there are a variety of strategies required to dig out of debt. You can try reducing your latte-factor, and consolidate the saved money towards your credit cards and other unwanted debts. Or, perhaps another alternative, is to take advantage of one of the numerous debt consolidation offers that litter your mail box, web browser, and email inbox.