Since the financial crisis in 2008, banks have really tightened their lending standards. It’s more difficult to borrow money — even for those with strong credit histories. But what do you do if you or someone close to you needs a loan? Many people are turning to friends and family to borrow funds. The Virginia Society of CPAs has put together the following tips to to take to prevent a loan from damaging a … Read More
If you’re like many people, you might spend time worrying about your finances: bills, debt, taxes, income, retirement, the list goes on. The problem is, worrying doesn’t fix the situation. It may motivate you to do something, but often it just adds to mental chaos or causes you to act out of fear, which can lead to poor decisions. It’s just a lousy place to be. So, how can you spend less time worrying … Read More
Here are a few of my favorite personal finance posts from around the web for the week ending March, 8, 2013. Okay, one goes back two weeks, but I thought you should still see it… Stock Market Highs and Your 401(k) from TheChicagoFinancialPlanner.com Shrink Your College Costs from GerriDetweiler.com How to Avoid Red Flag Home Office Deductions from DimeSpring.com Sandwich Generation Turns to Technology to Help Take Care of Aging Parents from TheWesterlySun.com Value Stocks and Dividends … Read More
I’m sure you’ve heard the financial advice, “Pay yourself first.” Many experts consider this to be one of the most important financial tips around. But let’s consider what this financial advice really means. It refers to the practice of saving some of your income before you pay any of your lifestyle bills. Ideally, the money would be taken out of your paycheck before you ever see it and deposited into either a savings or … Read More
Although you may not realize it, you have an emotional relationship with your finances. Think about it: when you get paid or spend money, how do you feel? An important aspect of living a secure, abundant financial life is having a thoughtful relationship with your money. Here are some tips you can use to start changing your relationship with money and live with intention: Adopt a “Start Today” attitude. Say to yourself, “Starting today, … Read More
I understand that staying up to date on your finances can be a challenge. Fortunately, though, you have access to your own personal credit report free of charge. This can be a great way to monitor and protect your financial identity while saving you money over the long run. Yet I still find many people aren’t doing it. Read on to learn the basics on why and how you should take advantage of this … Read More
Question: Our son is in his first semester of college and so far we have skirted the issue of getting him a credit card. Are we making a mistake by not letting him have his own card? Answer: Sending kids off to college isn’t easy. Even though you think it’s time for your child to experience life on their own, you know they’ll still depend on you for some financial support and one of … Read More
Take control of your money. I am really sick of hearing that phrase. It seems to be overused marketing jargon in the financial services industry and from what I’m seeing it really means: take control of you money just long enough to give it to us and then we’ll take control from there. I hate to sound like I’m ranting, but that’s what happens when I get irritated. You see, I’ve been working with … Read More
The following are my favorite articles and posts this week from around the web: What to do when you receive a letter from the IRS from Financial Ducks In A Row.com Many Employers Clueless About 401(k) Fees, G.A.O. Finds from NYTimes.com ‘Safe’ investments that are actually risky from CNNMoney.com But I Don’t Want To! Secrets to Self-Motivation from Wisebread.com Check Social Security Benefits Online from The Suns Financial Diary.com Why Don’t People Talk … Read More
If you work for yourself, your income naturally depends on how much you charge. So how do you know if you’re allowing yourself to be fairly paid and when you should (and shouldn’t!) raise your rate? Here are some tips: When You Should Raise Your Rates 1. Your skills or service have improved. If the value you provide has increased, raising your rates to reflect that is reasonable. 2. Supply and demand have changed … Read More