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Families and Finance

Daniel — Wed, 28 Oct 2009 15:11:31 +0000

For some reason families do not like to talk to each other about finances. Your spouse should be your right hand, be able to handle all that needs handling, and should know as much as you about the families finances. Just think of some of the problems that could be avoided if your spouse knew exactly what financial problems your family was facing. According to a survey by Fidelity Investments, 60% of married couples between the ages of 45 and 70 say newly weds should discuss daily financial decisions.

Money issues are a big problem between couples, it cause arguments and in some cases divorce. I have never been married, so I cannot even begin to talk about why this is a fact. What I can discuss is the benefits of avoiding these pitfalls and why it is important to teach your spouse how to manage your personal finances.

I realize that not all relationships are created equal. One person might have more debt than the other, one might have a large amount, both might have close to the same financial situation, or a million other possibilities. No matter the situation, being on the same page with your partner is crucial when it comes to money matters. Understanding how you each hand money will help with future financial planning such as budgets, shopping, and saving. If you know your partner has a weakness when it comes to shoes or an affinity for electronics then that can be worked into your budget.

When times get hard and cut backs have to be made, your spouse should know and understand why this is happening. If you are the only one making these cuts and your spouse is still spending as if nothing has changed then your efforts are futile. When It’s time for retirement, if you and your partner do not have a solid plan your retirement could be put on hold and this could cause unwanted problems. Knowing each others debt and devising a plan to pay it off should be a major part of your future financial planning.

Many couples get in arguments and break up every year because of the lack of communication about money. If you do not share and teach each other about finances then you can not help each other when the time comes. According to Smartmoney.com debt was the #1 reason couples fight when it came to finance. Fact is, this can all be avoided and considering whats at stake should be enough for you to take action.

List Of The 11 Best Web Based Personal Finance Managers

Daniel — Wed, 07 Oct 2009 18:33:30 +0000

I am a do-it-myself-on-paper kind of guy, but I realize that this is the age of the Internet there are better was to manage your personal finances. Web based personal finance managers are all over the net, with features you can not get from a pen and a notepad or even some windows based financial management programs. I have put together a short list of web based personal finance managers for those of you looking for a better way to manage your finances. Be careful and put in some research time before you choose a site as they do require you to provide your personal financial information.

There you have it, eleven web based personal finance managers for you to choose from. Managing your money can be hard, but these sites should help make it a little easier for you. They all have great features that are explained on each website, so I will not go into which is the best or worst. Take a little time a read their blogs to get a feel of what the users are saying about the service you might even learn some tips for saving money. I will leave it up to you to choose the one that is best for your needs. I hope one of these will be the key to changing your financial situation and starting you on the road to financial security.

Personal Money Management

Daniel — Mon, 28 Sep 2009 15:40:33 +0000

As I have mentioned many many times before personal money management is very important. Keeping your life and money organized will help you to know exactly where it all needs to go and where it really ends up. This is not an over night process by any means, it will take time, persistence and Patience to get the hang of it all. Most importantly, you have to change your habits to include the new budget plan. Entertainment seems to be the cinch where people impulsively spend and tend to use up monthly savings. You have to make it a part of your everyday life by sticking to your budget, monitoring your money and actively working towards your financial goals.

When most people realize the need to learn personal money management they are in a critical situation. I suggest you take baby steps when you first start and try to read and learn as much as you can in order to build a good foundation. Take the time to learn why and how to automate your money before you run to the bank and set up a bunch of savings accounts. Knowing what a budget is and the purpose for one will make it much easier to create one and stick with it. Personal money management is a life skill that you will continue to use for years to come so, rushing and taking short cuts will only hurt you in the long run. There are many blogs/website, seminars you can attend and book you can read to get you started on the road to the riches. The local library has all the book you could ever want for free, all you need is a library card.

I know many will read this and want to take action, but will never take the first step. If you found your way to this site and have read this far it is very likely you need to learn to manage your money better. As far as I know for one reason or another everyone needs money and it does not matter how much you have you will always think you need more. There will always be new things to buy, places to go, bills coming in the mail and they all require money. The more you know about personal money management the easier it will be to buy these things, go to these places and pay your bills on time. So, not taking the time to learn is your option and it will always be true that not knowing is not an excuse. I will even go as far as to suggest a few books for you to read. I will teach you to be rich by Rami Sethi, personal finance for dummies by Eric Tyson, Think and grow rich by Napoleon Hill (Any of his books really) and The millionaire next door by Thomas J. Stanley and William D. Danko the rest is up to you.

Till next time remember money is only a means to an end.