If your emergency savings fund is looking a little sad these days – or worse, is non-existent – it’s time to get creative. After you’ve made as many cuts to regular bills and expenses as you can to free up cash for your savings, the next step is to increase the income side of the equation? Don’t have time for a second job? Don’t worry – there are plenty of unusual ways to earn cash without taking on another job.
Tag: emergency savings
Everyone has different priorities in life, but your finances should take a front seat rather than a back seat in these priorities. Organizing your financial life and deciding what’s important doesn’t have to be a burden if you learn how to do it right the first time. We show you how.
If you want to save money for specific goals, you might want to consider managing your money more like the government. One of the principles of government money management is the idea of “dedicated funds.” Certain government money has to be spent only on certain activities – health care, education, etc. – and these government programs are funded by specific types of taxes. How might this apply to you? You can take a cue from the government – and start taking better control of your finances – by setting up multiple savings accounts, each with a specific purpose. Find out more.
When you take that first leap toward financial independence, it can be rather overwhelming. People start throwing abbreviations at you like FICO and IRA, and you may often be left scratching your head. Don’t worry! With these five easy steps, you’ll be well on your way to financial success.
Any period of unemployment is tough. You’re not sure how long it will be until you find another job or how much you will make when you do. You’re following your finances closer than ever before. But once you get out of the woods, you may find that there are many lessons you learned that you can carry over to the good times too. They can make any future bouts of unemployment less stressful and even make you richer in the long run.
The end of each year brings a time for reflection and renewal, and this is especially valuable when it comes to personal finance. As the year 2010 comes to a close, are you better off financially than you were on January 1 of this year? What would you like to do differently so that your finances are in better shape at the end of 2011? Here are a few things you can do by the end of the year to improve your financial position for 2011.
In more than a decade of financial planning for families, Certified Financial Planner, Kevin Worthley, has found a startling trend – most families do not have an adequate emergency fund. Yet, the consequences of not having such a safeguard can be disastrous. Kevin covers why it’s so important to have a rainy day fund and how to get started.
Whether you’re ignoring major savings on your largest bill or you’re neglecting to sock money away for a rainy day, you’re putting yourself and your finances at risk. Keep your costs manageable – now and in the future – by avoiding these five common money mistakes.