With summer in full swing, many people may already be feeling a pinch in their pocketbooks. Unlike the fall and winter seasons when people are more likely to want to cozy up at home and be hermits, the siren call of the warm sun and blue skies are irresistible to many wanting to make the most out of these glorious months. Continue reading
Millennials have a false reputation of not being savvy with their finances. There seems to be a stereotype regarding money management that has adhered to this generation with no known cause. While millennials are inarguably faced with the largest debt burden compared to previous generations, they are using that drawback to exercise smart spending and saving skills. The fact is that millennials are actually quite creative and knowledgeable when it comes to their finances. They just save and invest in different ways than most other generations are accustomed to. Here are some lessons to take from the millennial generation. Continue reading
When it comes time to invest your money, there are numerous options at your disposal. If you want to be ultra-conservative, you can put your money in a savings account or in US bonds. Both offer a low rate of return with essentially no risk. Continue reading
While investing in a 401(k) retirement plan is a viable option for some people, there are several alternatives for building a nest egg that will provide you with more flexibility. Your employer may not offer a 401(k) plan, or even if they do, you may be seeking a backup plan. Here are four options for saving for retirement outside of a 401(k).
There is a distinct correlation between employees being satisfied with their job and the benefits that job offers. Employers that offer benefits (whether they be medical, dental, or vision insurance) can expect that their employees will be generally happier at work.
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You may be like so many other people and be confused about what your credit score means and how it impacts you. Another common misconception is that you shouldn’t use credit unless you can’t afford something. This may be putting you at a disadvantage when you need to make a larger purchase, such as a car or a home. Continue reading
Your 30s can be an exciting time. Many people in this age group are enhancing their careers, getting married, starting families and buying homes for the first time. This is also a time to re-think how you manage your finances. There are several things that you can do to get your money in order while you are in your 30s. Continue reading
These days, people often talk about work/ life balance. It’s an easy thing in theory to understand, but often difficult in practice to implement. This holds especially true when you’re on vacation. Granted, sometimes it’s unavoidable to not work while you’re on break.
If you have an upcoming vacation and you know that you’ll have a hard time maintaining your work/ life balance while you’re gone, here are some pointers to help you spend more of your vacation vacationing and less of it working.
These three tips help you set up the systems that you need to set up before you go in order to achieve more balance on vacation. They also help you to establish some work safety nets so to speak so that if it’s truly an emergency, your clients are still taken care of even if you’re not there. Continue reading
More people today work from home than ever before. The Internet has made this scenario possible. Connect with colleagues without a physical commute. The career possibilities are almost endless.
However, you don’t just show up to a standard office anymore. You must create one yourself. Take a few tips from the experts as you build an office that reflects personality and productivity. Working from home can be a thrill with these office suggestions. Continue reading
If these or other emotionally painful experiences are haunting you, you may need to get a better handle on your debt situation.
Debt/Income Ratio
A good yardstick to use when thinking about your debt is your Debt/Income Ratio. If it is 15% or less, you are likely using debt wisely. If it is greater than 50%, you are likely having a problem with too much debt. What is your Debt/Income Ratio?
Tips for Effectively Managing Your Debt
Here are some useful tips to keep in mind when considering taking out a loan for several common needs or wants:
In conclusion, debt can be a good thing or a real detriment to your financial well being. By considering the type of debt you are incurring, and by calculating your Debt/Income Ratio, you may be better able to assess your risks. Above all, stay away from Bad Debt and especially Toxic Debt.
