Wednesday, July 22, 2009
Real Simple: Get out of Debt Checklist
Sunday, May 3, 2009
Must Do ! Primerica Financial Needs Analysis (FNA)
Yesterday, I was at the National Woman's Show where I spent some time at the Primerica booth talking to a representative who was telling me about this great complimentary (that's right FREE) Financial Needs Analysis that they do for people. Primerica will go over your financial situation and create a plan that works for you.
Who is this for?
Anyone with children, Anyone with debt, Anyone that plans on retiring, ANYONE.
What Can it Help you With?
Debt Elimination, Retirement Planning, Insurance Planning, Education Planning.
How do I get started?
Make an appointement; search your local listings for a financial services representative near you.Bring the Following information as listed on the Primerica website:
- Your latest Pay stub
- All savings and investment account statements
- Company benefit statements
- Life Insurance Policies
- Education Savings Statements
- Financial Aide and tution amounts
- Mortgage documents
- Loan and Credit Card Statements
You owe it to yourself to take advantage of this complimentary service. In these tough economic times it is more important than ever to find out where you stand and how you can improve your financial situation.
Wednesday, April 29, 2009
Awesome Site !! We Seed: The Stock Market for the rest of Us
Hey all; For far far too long the stock market has been left to professional traders and CEOs. As we can see from the current state of the global economy this has not gone so well. Now I’m not saying that all professionals involved in the stock market are bad and I don’t want to give that impression all I’m saying is that it’s time that us regular folks take the power back. Now, I’m a safe investor I prefer things that offer a guaranteed return but I’m always up for learning something new and if you are too you will love the new site I just discovered. We Seed: The Stock Market for the rest of us is an awesome site. It allows you to create your own stock portfolio using real companies but fake stock certificates and fake money. This site allows you to become armed with the knowledge and practice to make the right decisions should you choose to venture into the real stock market. You can make a portfolio made up of your passions or things you like and you get real updated information on the companies. This site has some great features: you can search by passion, company buzz search, and Daily PoP N’ Stock (this combines pop culture and stocks), you can create networks, groups and teams to share stock information, you can learn all about investing and the stock market by working your way through three levels of knowledge and testing yourself with quizzes and you can play games. If you want to take the power back and gain this invaluable knowledge click the link.
Sunday, March 15, 2009
Cool Tool! My Budget Planner
Click this link to download a tool that will help you track your income and expenses from the security of your own computer.
Debt Load: The "28/36" Rule
This rule is used by mortgage lenders:
-Your monthly household debt service should not exceed 28% of your gross monthly income
-Your total debt service, including your house payments plus all other payments should not exceed 36% of your gross monthly income
In Determining your Debt Load Limits Consider the Following:
-The stability of your income
-Your other regular expenses
-Your need for cash from month to month
-The changes in your cash needs as you age
-Your personal needs, wants, and goals
-Any extraordinary expenses that may come up
-Remember that debt Spends your future income
-Make regular savings a habit
Warning Signs:
It's hard to admit to having too much debt. Obviously or the world wouldn't be in the current economic state it is. Here are some warning signs that you are carrying too much debt:
-Next months bills come in before last month's have been paid off
-You get frustrated when you write checks because you have more bills than you thought you did
-You know what past-due notices look like
-You get overdue balances on credit card statements
-You avoid opening letters ( Confession of a shopaholic ring any bells)
-You hardly ever keep a running balance in your checkbook
Some Tools:
-Cost of Credit Calculator
-Are They in Trouble Worksheet
-Do you Know your Net Worth
-Cost of Credit Worksheet
-How to Handle Creditors
Debt Load
What is it?
Debt load is a term that is used to describe the amount of debt a consumer has. Creditors look at the Debt/Income ratio to see if consumers are carrying a "safe"amount of debt.
How do I Calculate it?
Add all of your non-housing monthly payments except for utilites and taxes. Then, Calculate your total annual gross wages and divide by 12. When you divide your monthly debt payments by your monthly gross income. You will get your monthly non-housing Debt/Income ratio; it is generally expressed as a percentage.
What does it Mean?
10% or less: You're in great financial shape
10%-20%: You will probably be able to get credit
20% or more: Too High !
Take the Debt Load Quiz
Tuesday, February 24, 2009
Style: From Work to Networking By: Donna Smith
Right or wrong, shallow or not, we instinctively judge by appearances. Albert Mehrabian, author of Silent Messages (Wadsworth, 1971), claims appearance has a greater effect on people you meet for the first time than any other factor. He says 55 percent of an initial impression is based on how you look and only 7 percent on what you say.
As the old adage goes, dress for the job you want – and the clients you want – at networking events just as in the office. Here's how
Prepare to look professional and pulled together at impromptu meetings and last-minute event invitations by keeping a tailored jacket in your office or car at all times.
Carry a small handbag with just your essentials (keys, lipstick, phone, business cards) and leave your briefcase or laptop bag in the car. You don't want to be the woman banging into everyone with her bag! And since you'll need both hands free (for shaking and eating), consider a shoulder bag over a clutch.
Do you know how far you will have to walk from the parking lot to the event? Factor that into your shoe (and pant or skirt) selection for the day. Keep in mind that you will be coming from work, so your feet may already be tired and may tend to swell during the evening.
Freshen up your lipstick and eye makeup. Try navy blue eyeliner to make your eyes appear brighter and erase some of the day's tension. Go for a natural or neutral lip color to avoid the dreaded lipstick ring – and the lip print on your glass.
Color Color sends a strong nonverbal message and is the first thing a person sees. Think about what you want to communicate and then choose colors that support that impression.
Navy: honesty, integrity
Black: sophistication, authority
White: freshness, reliability
Tan: elegance, approachability
Brown: stability, security
Gray: strength of character, refinement
Burgundy/Maroon: classic, elegance
Plum: regal, diplomatic
Teal: inventive, soothing
Red: passion, tenacity
Donna Smith is editor of Style Stories.
Tuesday, February 17, 2009
Three Myths of Success by Suzy Welch
1. Forget about fun. You have to suffer in order to advance
2. Your Life needs to look Picture-Perfect from the outside
3. A mentor must look like a mentor
Please follow one of the above links to the full article by Suzy Welch on the Pink Magazine website her article is very insightful and worth reading.
Cool Tool ! Little Pink Book
Tuesday, January 27, 2009
Financial Case Studies: Saving up for Hard Times Camille and Calvin's Story
- Chapter 2: Where do I go for Help to Replace Lost Income
If you ever lose your job or source of income, you may be eligible to get help from work or government plans:
- What Plans Can help me if I lose my Job?
- What Plans Can help me if I get Hurt or Sick and Can't Work?
- What Plan Can help me take time off to care for my child?
- Chapter 3:How much Money Will I have if my Work Situation Changes?
Use these worksheets to help you plan:
- Sources of Income if you Lose your Jobs
- Sources of Income if you get Hurt or Sick
- Sources of Income if you are Having a Baby
Monday, January 26, 2009
Financial Case Studies: Saving for Hard Times Camille and Calvin's Story
Ten years ago, Camille and Calvin had a $25,000 car loan and a $200,000 mortgage. The couple had turned down insuring these loans because it would have cost about $80 a month – close to $1,000 a year. They thought it was a waste of money because they weren’t sure they would ever need the insurance.
Instead, they saved an equal amount in an emergency fund. They figured that if they never had to use these savings, they could use the money after retirement. After 10 years, they had saved about $12,400.
That’s when it happened: Camille was laid off. Suddenly, she went from making $4,000 a month before tax, to less than $1,700 a month from Employment Insurance. With their debt still high, Camille and Calvin need to draw $1,000 a month from their emergency fund. How long will their money last?
Lesson learned: If Camille gets a new job within a year, she and Calvin will be able to get by. If it takes longer, they may run out of savings. Now they wish they had put some of their money into insurance. It would have made it a lot easier to get through this tough time.
- Step 1:What are the five ways I can Keep Money Coming In?
These may help you replace income if you lose your job, or if you get hurt or sick and can’t work. They may also provide money if you take time off work to care for a new baby or a sick family member.
Tip: You may also be able to draw on unpaid salary or vacation pay. If you become very ill, or injured, and are never going to be able to work again, you may be able to draw on your pension savings.
2. Insurance
This may pay your monthly debts if you get sick or hurt, and can’t work. For example, you can buy insurance to pay your mortgage, a car loan, or your credit card payments until you get back to work. Disability insurance provides income each month if you get sick or hurt.
Tip: It’s cheaper if you can buy disability insurance through work.
Use emergency funds first, if you have them, to pay your bills. Avoid taking money from your retirement savings.
Tip: The experts say that everyone should have an emergency fund for times when your income stops. How much you save is up to you.
4. Loans
You may be able to borrow money from friends, or family, or from the bank.
You may also be able to borrow back some of the money you have put into your home.
Loans make sense only if you have a way to pay back the money, and the interest, on time.
Tip: Using credit cards is one of the most costly ways to borrow. Avoid this if you can.
You may sell your home or other property for cash, then buy or rent another home for less.
You may sell your car or boat and buy a smaller, cheaper model.
Another choice is to keep your home or cottage, but rent it out to bring in extra money.
Thursday, January 15, 2009
Friday, January 9, 2009
Free Financial Book Download on Oprah .Com
Download Suze Orman's new book on Oprah.com for free until January 15th. Click the picture to download now.
Women's Saving Initiative
