A new study suggests women are behind on their finances because of one big factor.
You know you need to periodically recrunch your numbers and assumptions in your business plan. It's time to do the same with your investments.
More than just your food budget is about to change.
Financial advisors provide advice relating to investment strategies, mutual funds, bonds, and stocks. You may work at a bank or brokerage firm, or at an insurance company. To become a financial advisor, you generally need at least a...
Tony Wiley Chicago - Every student wants to get into the best college for the higher studies, and this expectation can be fulfilled only by paying a good tuition fee, because all the reputed colleges charge a high admission fee, which is not possible for the families with moderate income. In the hope to enter into one of the premiere institutes, the students and their families take loans, but these student loans create a pressure which needs to be controlled on the right time and with some smart moves. Frugal Lifestyle: Student life is about going with a flow, and not taking enough pressures, but at the same time it is that phase of your life when you can take some really smart decisions which can deeply affect your future. It has been found that most of the students suffer with their habit of uncontrolled spending, whereas some of them adopt frugal lifestyles right from the beginning to keep their financial life on track. The college students who cut their budget and avoid the wastage of money on the unnecessary resources manage to save a good contribution to pay off their loan debts. If you are striving to save money in your student life, then here are some ideas which will improve your savings. Share an apartment with your friends, and divide the rent. Shop less and save more. Reduce the outings and look for cheaper options of entertainment. Take an accommodation closer to your college to avoid the expenditure on the transport. Plan a budget: Planning can solve all the student problems. There is a lack of balance in the financial life of the students, because they spend unknowingly and in an unplanned way. This brings them in a situation where they finish all their money in the beginning of the month, and struggle the rest of the day with a shrunk pocket. Life is fun when its unplanned, but it is completely opposite with your financial life. The more it is planned, the more it is secure. No more debts: Students love to enjoy their life, and for this they keep taking money from their friends. If you are doing the same thing, then you are probably increasing more pressure on you. Prioritizing your debts will make you realize that you are raising the level of the problem meter for you. Avoid taking money for the unimportant requirements.
37% of Americans have credit card debt that equals or exceeds their emergency savings.
Tony Wiley: All these years, I came across people who want to get rich, and they need my assistance in fulfilling their dream. It is my job to help them and advise them in a way that they obtain stability in their financial life. People of all age groups approach me for a valuable piece of advice that can drive their financial life more smoothly. My clients who are facing a financial downturn want to come out of the turmoil, whereas all my rich clients keep thinking of making more and more money. I always ask them about their existing investments and expenses, and knowing inside out of this section of the society, I would like to bring something to the notice of these rich people. Spending extravagantly on the expeditions and shopping will bring happiness today, but are you ready for the future? As their financial educator, it becomes my duty and responsibility to enlighten them about the investment planning. I always tell people that it is easy to get rich, but really hard to maintain the positive financial state. So, here is the advice for all the affluent members of the wealthy community. Start saving now- Don't keep spending all your earnings. You need to have good savings before entering your retirement phase. People take too long to plan for their retirement, you cannot be sure of the future. So, it is always advisable to prepare yourself beforehand. Start with saving less, and keep increasing the amount as you become regular with the saving process. Avoid credit cards- We often get dependent on credit cards while making impulsive purchases, but the high interest rates can really put pressure on you while making the payments. Some of us keep delaying the card debts, but by doing that, we are making things more difficult for us. Start investing- It is never too late to start planning your investments. Consult your financial advisor today, and discuss about the different investment platforms which can give you good benefits. Live below your means: You must plan your monthly expenses. On getting a salary, sit back and divide your expenses, keeping in mind the priorities. Unnecessary expenditures will shake your budget and will affect your nest egg. Start following these basic steps to reduce the distance between you and your financial goal.
Couples have plenty of reasons to argue, but one reason which is common with every one is money. The topic of money is responsible for most of the heated arguments between couples. Difference of op…
Tony Wiley - If you have worked with any good organization, then you would be familiar with the verification process conducted by the human resource department. This process is done to ensure the authenticity of your documents. In other words, you have to undergo a screening test to get a clean chit and to start your journey with any new company. So, how can you count on anyone without running a background check on your financial advisor? It has been seen that most of the people who appoint the financial advisors don't bother to survey about the person they are hiring. There are various reasons which raise the need for an investigation before you get someone on board. If the person is found guilty of any charge, then you will feel disappointed on your decision. So, before you start a search for a financial planner, here are a few things you need to know. You will be paying the financial advisor for the services. So, don't hesitate to ask questions before giving him your details. Be confident while talking to the advisor, and don't stretch the conversation. Ask him these questions. Have you undergone any investigation before by any regulatory body? Do you have a clean record? Were you put under trial or found guilty by your clients in the past? Cross check the details given by him taking more information about the previous and existing clients. You can also ask for the references of the present clients with the same financial motives as yours. You can further clarify your doubts by talking to these people. They can tell you if it is worth spending on his services or not. You can also extract detailed information about your financial advisor on the web. Just Google the credentials and check which administrator look after the designation. You can collect all the relevant information online which will help in taking a wise decision. It is said that the best litmus test to know whether you have met the right person is to ask him if he has the potential to beat the market. If the planner boasts about his market beating performance, then it is the right sign to leave the place.
Tony Wiley, Chicago, Certified Financial Educator And Adviser
via Last year for the first time ever, I set myself 14 goals to achieve in 2014, so how did I do? Start going to/stick to the gym -...
U.S. Treasury Secretary Jacob Lew and U.K. Chancellor of the Exchequer George Osborne offer their prescription for the Group of 20 major economies, as the...
Tony Wiley Chicago: Financial planning is extremely essential. With this plan, you create a roadmap for your secure financial life. It is vital to follow all the steps as strategist by you, any mis…
Finance Minister Siluanov says Russia isn’t moving into Brics bonds
These 5 strategies offer financial advisors and financial advisory firms a blueprint on how to grow their practices and ensure their long-term success.
Tony Wiley Chicago – No matter how much time you have spent thinking or fearing, you have a real chance to bring your financial life back to normal. Some people realize things early, whereas …
Tony Wiley Chicago - You have spent so many years working hard and going through a daily grind to chase your dreams. It is the moment to slow down and think about the coming years of your life, often described as the golden years. Retirement: It is that phase of life when you wish to live to the fullest without any boundations and barriers. One more aspect of this golden phase that is not very pleasing is having no source of regular income . How do you wish to manage your daily expenses and complete your wish list without any money in your pocket? This is why you must be prepared for the changes in the retirement years or maybe you need to plan the things according to your wish list. Firstly, decide a date of your retirement. This step will help you identify the time you have to plan for the final moment. The retirement date will keep motivating you to work harder and accomplish the goals you've set for your retirement. If you are aware that only a few years are left in the retirement, then it is easy to finish of the most essential tasks within that time span. Just list down the things you want to do before the final day, and start completing them one by one. Secondly, it is the time to know about your financial state. Savings, debts, mortgages, investments, expenses, etc. Prepare a retirement planning worksheet in which you clearly state all the figures of your savings on one column, mortgages and debts on the second column, expenses and investments in the third. It is said that at the time of retirement, you must have at least 70-80% of your current income with you. So, look at the chart and see where do you stand according to this figure. If you lag behind, then pull up the socks and start getting more active towards saving. Debts and mortgages can also be counted in the expenses, as this money is gone from your account on regular intervals. On fixing the date of your retirement, you will know that in this short period, you have to overcome the pressure of these debts. You are definitely not willing to take the burden of these debts in your retirement years. The situation will get worse with no income and hefty debt amounts. Talk to your spouse about your retirement plans and encourage their thoughts on these ideas. This conversation will help in understanding each others requirement for the later years of life, when both of you would like to have a peaceful life. Discuss and come to a common solution to all the money problems you need to solve before the retirement. A support from a family member in this planning plays a vital role in the success of the process.
As the industry gears up for the introduction of retirement freedoms in April what will people choose? Stephen Lowe goes through recent research into what retirees are looking for.
