Should You Supplement Your Income or Tap Retirement Funds, Regardless of Penalties?

As more people are feeling the crunch in the economy, due to an increase cost in groceries and living expenses, (in addition to job losses), more people are either cashing in their retirement funds or borrowing against them despite penalties. There is concern that future retirees will be less prepared than now, because of drawing down savings for the short term. However, it might still be the best personal choice at the time for some. Read the linked article from www.msn.com to see some of the problems and choices being made.

I am a big advocate of continue reading »

4 Tips to Teaching Kids How to Manage Money

I grew up in a pretty conservative household when it came to saving and spending money. Guess that’s why I started teaching my daughter, Mikaila, when she was young (& the other kids in my life) to be responsible with their money early on. By the way, she’s the baby and just turned 21 today! Happy Birthday kiddo!

I believe in giving children an allowance for two reasons. One, it instills in them a sense of pride completing a responsibility and receiving something tangible for their efforts. But secondarily (& most important I think), is to teach them how to manage money early on.

I gave the kids 4 "piggy banks" when they were about 4 years old and explained continue reading »

Balancing Your Budget and Social Life

The timing of my reading this article was perfect! Those of you who have high school or college age kids may relate. I have forwarded this to each of mine. Although they grew up learning how to budget , the "outside" forces can be much more tempting at times than logic

“Sticking to your budget while maintaining an active social life can be challenging. Dining out, vacations, retail therapy-all of these things can take a significant toll on your financial stability. Don’t give up hope; just follow a few simple pointers on how to be a responsible social butterfly without breaking your budget. (From Seeds of Success )

1. Forget About the Joneses
If you want to maintain a healthy budget, you must live within your means-so the first step is a mental shift in priorities. Sure, all your friends might drive luxury sedans and sport Swiss watches, but that isn’t an excuse for you to do the same. The truth is, many people who indulge materialist hedonism can’t afford it either. By sticking to your budget now, and investing your savings properly, you’ll end up with more money to spend on what you want in the long run -including bigger cars and shinier watches. Remember that a little restraint now goes a long way.

2. Save for the Fun, Not the Finance Charges
It’s not uncommon for friends to plan winter ski trips or summer getaways together. It’s also not uncommon to rack up serious credit debt on social outings. You don’t have to turn down the invitation, just curb overspending and work your trip into your budget. Calculate how much you’ll need for travel and trip expenses in advance, and pay yourself first. You’ll save huge chunks in credit card interest-plus the peace of mind that comes from knowing your good times your won’t come back to bite you when your credit card bill shows up in the mail.

3. Embrace Like-Minded Savers
Find a support group of penny pinchers who still enjoy cavorting-it’s a great way to exercise financial responsibility without feeling pressured to throw caution to the wind and go "spend crazy." Online groups like ThriftyFun.com and Geezo.com are perfect places to share ideas, stories, get advice and find ways to creatively cut spending while keeping a smile planted squarely on your mug.”

Please leave comment about how you balance your budget and social life!

Until next time, J.

"Take control of your destiny or someone else will"

How Can You Erase Years of Poor Financial Habits?

Your sister-in-law just called to confide in you. She’s beside herself and doesn’t know where to turn.

They will barely be able to make their house payment this month. On top of that, they will need to figure out how to make payments on their cars and credit cards. They’re in their "middle years" and life should be getting easier, not tougher….

They haven’t wanted to let anyone know how desperate they’ve become – it would be too embarrassing. How did they get so "upside down"? They make "good money", but it seems all their expenses kept going up while their income stayed the same. So, they charged more, they used their house as an ATM – now reality is they may need to move in with relatives to get back on their feet. She’s so depressed, and all this is taking a toll on their relationship too….

Sound far fetched? Unfortunately, it may be happening to more people you know than you think. Or, maybe it’s happening to you, and 2008 is your year to get things back on track. Wouldn’t it be a terrific feeling to never worry about something like this happening?

The good news is that there is a way to re-create yourself financially. By linking into a proven, powerful, and automated marketing system you can erase years of poor financial habits – it’s not too late – for you (or your sister-in-law)

To see how, click here

Imagine owning your home free and clear, and owning your cars as well. Plus, you’re able to save for the kids college, and fund a very comfortable retirement that others only dream of. Have more time to do the fun things in life and travel to your dream destinations. Imagine not waking up to an alarm clock and being able to FIRE your boss. No more commuting those long hours to and from a j.o.b. anymore…..

If that sounded good to you, and you’re ready for a life of financial freedom, you owe it to yourself to take another 20 minutes and satisfy your entrepreneurial spirit and see how to MAKE this your REALITY! It’s not "too good to be true", and we ARE changing people’s lives daily!

Make this a positive year! Click here to find out how.

Until next time, J.
"Take control of your destiny or someone else will"