Tag: personal finance

Steps to Getting A Financial Advisor in your 20s

Getting a financial advisor in your 20s is a responsible thing to do. At the every least, it means that you are serious about your finances. Finding one in your local area is not hard, especially with SmartAsset free matching tool, which can match you up to 3 financial advisors in under 5 minutes. However, you must also remember that a quality financial advisor does not come free. So, before deciding whether getting a financial advisor in your 20s makes financial sense, you first have to decide the cost to see a financial advisor.

What can a financial advisor do for you?

A financial advisor can help you set financial goals, such as saving for a house, getting married, buying a car, or retirement. They can help you avoid making costly mistakes, protect your assets, grow your savings, make more money, and help you feel more in control of your finances. So to help you get started, here are some of the steps you need to take before hiring one.

Need help with your money? Find a financial advisor near you with SmartAsset’s free matching tool.

1. Financial advice cost

What is the cost to see a financial advisor? For a lot of us, when we hear “financial advisors,” we automatically think that they only work with wealthy people or people with substantial assets. But financial advisors work with people with different financial positions. Granted they are not cheap, but a fee-only advisor will only charge you by the hour at a reasonable price – as little as $75 an hour.

Indeed, a normal rate for a fee-only advisor can be anywhere from $75 an hour $150 per hour. So, if you’re seriously thinking about getting a financial advisor in your 20s, a fee-only advisor is strongly recommended.

Good financial advisors can help you with your finance and maximize your savings. Take some time to shop around and choose a financial advisor that meets your specific needs.

2. Where to get financial advice?

Choosing a financial advisor is much like choosing a lawyer or a tax accountant. The most important thing is to shop around. So where to find the best financial advisors?

Finding a financial advisor you can trust, however, can be difficult. Given that there is a lot of information out there, it can be hard to determine which one will work in your best interest. Luckily, SmartAsset’s free matching tool has done the heavy lifting for you. Each of the financial advisor there, you with up to 3 financial advisors in your local area in just under 5 minutes.

3. Check them out

Once you are matched with a financial advisor, the next step is to do your own background on them. Again, SmartAsset’s free matching tool has already done that for you. But it doesn’t hurt to do your own digging. After all, it’s your money that’s on the line. You can check to see if their license are current. Check where they have worked, their qualifications, and training. Do they belong in any professional organizations? Have they published any articles recently?

Related: 5 Mistakes People Make When Hiring a Financial Advisor

4. Questions to ask your financial advisor

After you’re matched up with 3 financial advisors through SmartAsset’s free matching tool, the next step is to contact all three of them to interview them:

  • Experience: getting a financial advisor in your 20s means that you’re serious about your finances. So, you have to make sure you’re dealing with an experienced advisor — someone with experience on the kind of advice you’re seeking. For example, if you’re looking for advice on buying a house, they need to have experience on advising others on how to buy a house. So some good questions to ask are: Do you have the right experience to help me with my specific needs? Do you regularly advise people with the same situations? If not, you will need to find someone else.

5 Reasons You Need to Hire A Financial Consultant

  • Fees – as mentioned earlier, if you don’t have a lot of money and just started out, it’s best to work with a fee-only advisor. However, not all fee-only advisors are created equal; some charges more than others hourly. So a good question to ask is: how much will you charge me hourly?
  • Qualifications – asking whether they are qualified to advise is just important when considering getting a financial advisor in your 20s. So ask find about their educational background. Find out where they went to school, and what was their major. Are they also certified? Did they complete additional education? if so, in what field? Do they belong to any professional association? How often do they attend seminars, conferences in their field.
  • Their availability – Are they available when you need to consult with them? Do they respond to emails and phone calls in a timely manner? Do they explain financial topics to you in an easy-to-understand language?

If you’re satisfied with the answers to all of your questions, then you will feel more confident working with a financial advisor.

In sum, the key to getting a financial advisor in your 20s is to do your research so you don’t end up paying money for the wrong advice. You can find financial advisors in your area through SmartAsset’s Free matching tool.

  • Find a financial advisor – Use SmartAsset’s free matching tool to find a financial advisor in your area in less than 5 minutes. With free tool, you will get matched up to 3 financial advisors. All you have to do is to answer a few questions. Get started now.
  • You can also ask your friends and family for recommendations.
  • Follow our tips to find the best financial advisor for your needs.

Articles related to “getting a financial advisor in your 20s:”

  • How to Choose A Financial Advisor
  • 5 Signs You Need A Financial Advisor
  • 5 Mistakes People Make When Hiring A Financial Advisor

Thinking of getting financial advice in your 20s? Talk to the Right Financial Advisor.

You can talk to a financial advisor who can review your finances and help you reach your saving goals and get your debt under control. Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

The post Steps to Getting A Financial Advisor in your 20s appeared first on GrowthRapidly.

Source: growthrapidly.com

15 Home Business Ideas & The Free Courses You Need To Get Started

Are you looking for a work from home job or some at home business ideas?

If so, then I have a great list of free resources, such as courses and guides, that will help you find the best option and learn how to get started. Plus, all of the courses and guides in this article are free!

home business ideasIf you’re looking to make extra money, or even a full-time income, working from home is a great option. There are lots of realistic home business ideas that allow you to work on a flexible schedule.

In fact, around 50% of U.S. businesses are home based, and that number is expected to grow well into the future.

But, many people don’t know what kind of options are available or how to get started with their in home business ideas.

This article is a good starting point because I’m going to tell you about 15 different profitable home based business ideas and link to free courses, workshops, and guides that will help you kick off each of these ideas.

There are lots of valuable paid courses out there, but if you’re not sure about an idea, you might not want to spend hundreds of dollars on a course. That’s why free courses and guides are a great way to start.

You can learn more about each of these small business ideas, learn some of the basic skills, how much money you can earn, and more. You get to test these ideas a little bit before you invest a lot of time and money.

No matter what kind of business you decide to start, I think you’ll really enjoy starting one from home. 

I have been working from home since 2013, and I wouldn’t change it for anything! I absolutely love and enjoy running a business from home.

It has allowed me to travel full-time, save enough money to retire early, love what I do each day, and more.

Many people love running home based businesses for those reasons, but it also cuts your commute, allows you to earn money in your spare time, be your own boss, work on a flexible schedule, and more.

So, to help you get started, today I will explain some of the best small business ideas from home and which free online courses can help you get started.

Here is a quick list of the free work at home courses and resources I’m sharing:

  1. Selling Printables on Etsy Ebook
  2. Sell on Amazon Starter Course
  3. How To Start a Blog Course
  4. Build A Voiceover Action Plan From Scratch Minicourse
  5. Start An Online Advertising Business From Scratch
  6. Start Your Virtual Bookkeeping Business
  7. Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days
  8. General Transcription Mini-Course
  9. Become a Proofreader 76 Minute Webinar
  10. Court Transcript Proofreading Mini Course
  11. Podcast Virtual Assistant Workbooks
  12. Make Money Writing Romance Novels ecourse
  13. Pinterest Virtual Assistant Training Workshop
  14. Jumpstart Your Virtual Assistant Business
  15. Self-Publishing Your First Book

Below, I will be diving deeper into what each option is like, as well as more information about each of those free resources.

Below are 15 home business ideas.

 

1. Sell printables on Etsy.

Are you looking for a smart home business idea that allows you to use your creativity? Are you wondering “What can I sell from home to make money?”

If so, I recommend checking out this option. See, creating printables on Etsy can be a great side hustle because you just need to create one digital file per product, which you can then sell an unlimited number of times.

Printables are digital products that customers can download and print at home. Examples include grocery shopping checklists, gift tags, candy bar wrappers, printable quotes for wall art, and patterns.

You can sign up for this free ebook that helps you figure out where to start when it comes to selling printables on Etsy.

Related content on successful home business ideas:

  • 12 Passive Income Ideas That Will Let You Enjoy Life More
  • 15 Of My Best Working From Home Tips So You Can Succeed
  • 15 Outdoor Jobs For People Who Love Being Outside
  • 24 Of The Best Work From Home Jobs & How To Avoid Scams

 

2. Sell items on Amazon.

Yes, you can make money selling items on Amazon. Actually, this is one of the home business ideas with low start up costs because you can literally start selling items from around your house. Make money while you declutter your home, what’s not to love?!

The first year that my friend Jessica ran her Amazon FBA business, working less than 20 hours a week total, she made over $100,000 profit!

This free course shows you how to start a profitable Amazon business in a 9-part video course. You’ll learn:

  • The exact steps to follow to set up your Amazon Seller account
  • Two easy and affordable ways to find items to sell
  • How to choose profitable inventory that customers actually want to buy

Click here to sign up for the FREE Amazon FBA Starter Course!

 

3. Start a blog to work at home.

For obvious reasons, blogging is my favorite on this list of profitable home business ideas.

It is a business that allows me to travel full-time, have a flexible schedule, earn somewhat passive income, and more.

Blogging changed my life for the better, and it allows me to earn thousands of dollars a month, all by doing something that I love.

My blog was created on a whim as a way to track my personal finance progress. And when I first started my blog, I honestly didn’t even know that this was going to be one of the best small profitable business ideas out there. At least that’s been the case for me! 

You can easily learn how to start a blog with my free How To Start a Blog Course.

Here’s a quick outline of what you will learn:

    • Day 1: Reasons you should start a blog
    • Day 2: How to determine what to blog about
    • Day 3: How to create your blog (in this lesson, you will learn how to start a blog on WordPress – my tutorial makes it very easy to start a blog)
    • Day 4: How to make money blogging
    • Day 5: My tips for making passive income from blogging
    • Day 6: How to grow your traffic and followers
    • Day 7: Miscellaneous blogging tips that will help you be successful

 

4. Become a voice over actor.

A voice over actor is the person you hear but rarely see on YouTube videos, radio ads, explainer videos, corporate narration, documentaries, e-learning courses, audiobooks, TV commercials, video games, movies, and cartoons.

In 2014, Carrie Olsen replaced her salaried day job to become a full-time voice over actor. People are constantly asking her how she got her start and how they can too.

So, she created Build A Voiceover Action Plan From Scratch Minicourse — This free course will help you learn about becoming a voice over artist, even if you’re brand new!

 

5. Run Facebook ads for local businesses.

Did you know that you can make a living from Facebook? With Facebook advertising, you can help businesses expand their reach.

And, yes, this is a skill that you can learn without any prior experience in marketing or advertising.

The going rate for Facebook Ad management is $1,000 – $1,500 per month, per client.

Last year, business owners spent over $88,000,000 per day on Facebook ads. This is expected to continue to grow, and it is one of the largest advertising spaces that exists.

My friend Bobby Hoyt knows a lot about this topic. Bobby is a former high school teacher who paid off $40,000 of student loan debt in a year and a half. He now runs the personal finance blog Millennial Money Man full-time, as well as a digital marketing agency for local businesses that he started in 2015.

Bobby has a free webinar on this topic too. His webinar, Start An Online Advertising Business From Scratch, will teach you how to start this business even if you’re brand new, how to find paying clients, and more.

 

stay-at home business ideas

6. Start a bookkeeping business.

A bookkeeper is someone who tracks the finances of a business. They may handle payroll, billing and invoicing, etc.

These are all skills you can learn without being an accountant or having any previous experience.

Ben, from Bookkeeper Launch, helps people get started as bookkeepers even when they don’t have any experience. Ben is a CPA who founded his business after realizing that many businesses needed better bookkeepers. 

Start Your Virtual Bookkeeping Business will teach you more about running your own virtual bookkeeping business. You’ll learn:

  • Is a bookkeeping business for you?
  • What exactly is a bookkeeping business? What kind of work do they do?
  • How much money can you make as a bookkeeper?
  • How do you find clients?

 

7. Search for items to resell.

Have you ever found something that you thought you could resell to make a profit?

Melissa’s family earned $133,000 in one year by buying and selling items that they’ve found at thrift stores, yard sales, and flea markets.

Some of the best flipped items that they’ve sold include:

  • An item that they bought for $10 and flipped for $200 just 6 minutes later
  • A security tower they bought for $6,200 and flipped for $25,000 just one month later
  • A prosthetic leg that they bought for $30 at a flea market and sold for $1,000 on eBay the next day

This is one of the home business ideas that anyone can start because you can start off selling things in your own house — I know we all have lots of stuff in our house that we could stand to get rid of. Then once you get a feel for the work, you can start purchasing items to resell.

Melissa has a great free webinar, Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days, that will help you learn how to make money by flipping items.

 

8. Transcribe audio or video content into text.

Transcription is when you turn audio or video content into a text document. You listen to what’s being said and type it up.

There are many businesses looking for transcriptionists too – since general transcriptionists convert audio and video to text for virtually any industry, there really isn’t a typical client. Some examples include marketers, authors, filmmakers, academics, speakers, and conferences of all types.

Beginning transcriptionists earn around $15 an hour and it goes up from there.

You can learn more in the Free General Transcription Mini-Course. In this course, you will learn what it takes to become a transcriptionist, how much money you can earn, how you can find jobs, and more.

 

9. Become a general proofreader.

Proofreading is one of the most flexible and detail-orientated home business ideas that work. All you need to work as a proofreader is a laptop or tablet, an internet connection, and a good eye for finding mistakes.

Proofreaders look for punctuation mistakes, misspelled words, lack of consistency, and formatting errors.

You take content that other people have written and then go over it with a fine-tooth comb. You might be proofreading blog posts, print articles, academic articles, website copy, ad copy, books, student papers, emails, and more.

In one year, Caitlin made slightly over $43,000 by being a freelance proofreader.

Caitlin put together a FREE 76-minute workshop, where she answers all of the most common questions about becoming a proofreader, and she even shows you how to use the most popular tools used by proofreaders around the world. You can sign up for free here.

 

10. Become a court transcript proofreader.

Becoming a court transcript proofreader is a more focused version of the last idea.

Here’s what it’s like:

“Court reporters use digital stenography machines in combination with computer-aided transcription software to write verbatim records of various legal proceedings. They report depositions, trials, hearings, arbitrations, case management conferences, compulsory medical examinations, examinations under oath, and pretty much any other type of legal proceeding. Because of the sensitive nature of legal proceedings, it’s imperative that as many errors as possible be eliminated from transcripts — an especially major error could ruin an entire trial!”

Due to this, many court reporters also use court transcript proofreaders.

There is more training that goes into becoming a court transcript proofreader, and that is why I separated it from the general proofreading job above.

Caitlin, mentioned above, also has a great FREE 7 day course just for people who are interested in becoming a court transcript proofreader.

 

Home business ideas with low startup costs

11. Become a podcast virtual assistant.

There’s a big demand for podcast virtual assistants right now.

This is because there are over 800,000 podcasts out there, and that number just continues to grow. Podcasts are still a pretty new area, and that opens the door for lots of home business ideas that help out with all of these podcasts.

While the podcast host is responsible for recording themselves, other tasks like editing and publication take time, so many podcasters outsource their work to freelancers or virtual assistants. Also, some podcasters may not know how to do those things, or they may choose to focus their time on other areas.

Some of the different services you can offer as a podcast virtual assistant include:

  • Audio editing
  • Marketing and promotion
  • Publication
  • Distribution
  • Show note creation

You can sign up here for free information that will tell you more about how to become a podcast VA. In this free resource, you’ll learn exactly what a podcast virtual assistant is, the services you can offer, and starting rates.

 

12. Write romance novels.

My friend Yuwanda Black has found one of the most interesting home business ideas – she writes romance novels, and in one month, she was able to make over $3,000!

With her free Making Money Writing Romance ecourse, she teaches you how to make money writing and self-publishing romance novels.

It is taught from first-hand experience, which Yuwanda has because she’s written and self-published 50 romance novellas since 2013. And, she continues to publish today.

 

13. Work as a Pinterest virtual assistant.

Working as a Pinterest virtual assistant is a growing field as more and more business owners are using Pinterest to grow their business.

Pinterest VAs help businesses improve their reach by doing things like:

  • Designing Pinterest images for a website
  • Helping business owners set up their Pinterest account
  • Scheduling pins because this can be time consuming for the average business owner
  • Brainstorming a marketing plan

Click here and click on “Free Training Workshop” to learn how to become a Pinterest virtual assistant and find your first client. In this free course, you’ll learn what you need to do to get started, what services to offer, and how much to charge as a Pinterest virtual assistant.

 

14. Work as a virtual assistant.

If you’re looking for home business ideas with low startup costs, then virtual assisting is a great one!

Virtual assistance is a field that is growing very quickly and it is one of the very popular stay-at home business ideas.

Not only does the internet allow us to complete more of our daily tasks online, more and more people are working online. This presents a good opportunity for more virtual assistants.

Virtual assistant tasks may include social media management, formatting and editing content, scheduling appointments or travel, email management, and more. Basically, you can get paid to do any task that needs to be done in someone’s business, but doesn’t need to be done by them.

If this is one of the home business ideas you’re interested in, I recommend checking out Jumpstart Your Virtual Assistant Business. In that link, you’ll receive a free worksheet and workbook that will help you decide what virtual assistant services you can offer (there are over 150 choices!).

 

15. Write your own eBook for work from home ideas.

Writing your own eBook is a great way to make money from home, and there is probably something super helpful that you could write about (even if you think otherwise!).

In fact, my friend Alyssa self-published her first book and has sold more than 13,000 copies.

She is now earning a great passive income of over $200 a day from her book ($6,500 in one month alone!).

Learn more at Self-Publishing Your First Book. This free series will teach you what it takes to publish a book, including the strategies used to launch a book, writing tips, and more.

 

What is the best home business to start? What are the most successful small businesses?

As you can see, there are plenty of different home business ideas out there, and this list is only scratching the surface. There are full-time home based business ideas, and then there are part-time business ideas.

The best business home based ideas are going to be different for everyone. For example, some people are naturally good proofreaders, while others will have a knack for finding the right items for reselling.

I would think about what kinds of things you’re good at, what interests you, the skills you already have, etc. That may narrow the choices down some. 

But, what I love about the home business ideas on this list is that the free courses and guides listed mean you can learn more about any of them without a big investment. You can explore ideas without feeling like you’re wasting your money.

What home business ideas are you interested in?

The post 15 Home Business Ideas & The Free Courses You Need To Get Started appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

10 Ways to Stay Motivated When Paying Off Debt

The post 10 Ways to Stay Motivated When Paying Off Debt appeared first on Penny Pinchin' Mom.

It is easy to lose your focus any time you are working towards a goal.  It takes dedication, but even then you may lose your desire to keep going.   This is especially true when trying to reach your financial goals, such as getting out of debt.

get out of debt and stay motivated

Paying off debt is not easy. You start out with great determination and willpower to make it happen. But, as time goes on, you may find yourself loving motivation to pay off your debt.

If your debt balances are high, the balances may not drop as quickly as you would like.  It can make you lowe your desire to keep going. In fact, you might just feel like quitting.

I’m here to say don’t.  Don’t give up.  The key to is to find the motivation to pay to get out of debt, even when it isn’t easy.  These tips will help.

 

STAYING MOTIVATED TO PAY OFF DEBT

MY EXPERIENCE

When my husband and I were trying to get out of debt, there were times when we wanted to quit.  However, we were both determined to stick with it and not give up.

Sadly, that is not true for many.  People get excited at the idea of getting out of debt, but they never follow through.  For one reason or another, they lose the motivation to continue.

This means that they go back to their old habits and often times, end up even further in debt.  It is sad, but it is true.  They lost the will to stay the course.

 

 

WHERE DO YOU START?

First of all, you have to be willing and fully committed to wanting to be debt free.  If you aren’t willing to make sacrifices, that means you are not quite ready to start.  If you try, you will probably fail.

However, if you are ready and willing to put in the hard work involved you might be ready.  You need to fully understand that this process is going to take some time.  It took my husband and I more than 2 years to get out of our debt.  It may take a while – but it will happen.

 

FINDING THE MOTIVATION TO PAY OFF DEBT

1. Cheat once in a while

When you are trying to pay off your debt with laser focus, you might start to feel a bit of resentment towards it.  After all, that is your money and you see none of it.  Instead, it moves right over to your debtor.  You never get to enjoy it.

You need to spend money.

When you allow yourself a chance to go out to dinner or buy that new pair of shoes, you will continue to stay motivated.  It allows you to take the focus off of your debt for a short time and put it on yourself.

For example, when my husband and I were in paying off our debt, we did not eat out at restaurants.  We gave that up completely.  However, each time that we paid off a creditor we were able to go out to dinner. It allowed us to celebrate.  We had one cheat night, and then we were ready to get back on track again.

Just don’t do this very often, or you’ll end up quitting and up spending more than you should.

 

2. Be accountable

Whether you are a relationship or not, you need to find someone to whom you can be accountable.  Call them an accountability partner. The journey to being debt free can be a long and lonely adventure. Finding the right person to support you along the way can be vital to reaching your goals.

This person could be a friend or family member. While you might want to use a spouse or partner, they may not be the best person.  You really should find someone who has been on this path themselves and reached the end.  Someone who is debt free and battled to make it happen can provide much more support than someone drowning in debt.

 

3. Dream

Sit down and look at your finances.  Imagine all of the things you could do if you were not living with looming debt.  Perhaps you could afford that car you want. It might even mean being able to quit your job and stay home with the kids.

Read More:  Setting Your Financial Goals

 

4. Change your habits

Look at your debt.  What caused you to end up there. If was due to spending too much at Target, it means you need to stop.

You have to change your habits by creating a budget and a debt plan.  Take it further and change the way you spend your free time.  It won’t be easy, but no one said getting out of debt was going to be simple.

It is not an easy thing to do, but find a way to focus your energy on the things that created the debt to other things you enjoy.  Try to find the joy in the simple things, which cost no money at all.

Looking beyond the debt and definitely help you stay motivated when getting out of debt.

Read More: Why Your Debt Plan Will Fail

 

5. Get angry

One of the simplest ways to stay motivated is to hate your debt.  Review your bills and add up the money you are wasting on interest payments every month.  Just seeing the money you waste will make you angry. Heck, it might even make you nauseated.  Good.

Hate the debt and you’ll want to make it go away.

 

6. Daily reminder 

Put the total of your debt on your mirror. As you pay them down, update it with the new amount. Every day you will see that you are making progress. You will see where you were and where you have to go.

 

7. Continue to learn

Just because you read one article about how to get out of debt, doesn’t mean you are an expert. If you were, you would probably have never gotten into debt in the first place.

Keep reading and learning. Follow your favorite bloggers and read their tips for getting out of debt.

Read More: How to Get out of Debt on a Lower Income

 

8. Be patient

“Rome wasn’t built in a day.” Your debt didn’t accumulate in just a month. It took time. That means it will take time to pay it off.

If you are doing all you can to do get out of debt, then there no more you can do. Just look forward to the day you get to scream that you are debt free!

 

9. Connect with others

I mentioned an accountability partner above and that is great, but what do you do if you can’t find one? Easy. Look to others who understand.

With social media, it is easy to find people who are in your situation. They may be on Facebook or Twitter. You might find them in the comments of personal finance blogs. Look around for those who are making progress and network with them.

We all need help with this journey. There is no rule that says you have to be best friends with them to get the motivation and support you need.

 

10.  Read success stories

There is nothing more motivating than reading about others who have accomplished their goals. Reading about ordinary people who have paid down thousands of dollars of debt can be inspiring.

Read More: My Debt Free Journey to Paying Off $35,000+ in Debt

 

 

how to get help paying off debt

The post 10 Ways to Stay Motivated When Paying Off Debt appeared first on Penny Pinchin' Mom.

Source: pennypinchinmom.com

2021 Personal Finance Calendar: Keeping Your Finances On Track In The New Year

With key financial responsibilities like insurance, taxes, and retirement savings bouncing around your head, what should you focus on and when in 2021?With key financial responsibilities like insurance, taxes, and retirement savings bouncing around your head, what should you focus on and when in 2021?

The post 2021 Personal Finance Calendar: Keeping Your Finances On Track In The New Year appeared first on Money Under 30.

Source: moneyunder30.com

6 Signs Your Personal Finance Software Makes Life Easier

6 Signs Your personal finance software makes life easier

6 Signs Your Personal Finance Software Makes Life Easier

Finding personal finance software is easy, because there are countless choices in mobile apps, online programs, and finance software you can run on your home computer. But they’re certainly not equal. Personal finance software should make your life simpler, not more complicated, and it should be customizable for your particular life, goals, and needs. You know you’ve found great software when your financial life becomes easier over time. Here are 6 signs your personal finance software makes life easier.

1. You Haven’t Paid a Late Fee in Months

Does your personal finance software let you know in advance of when bills are due? It should be easy to set up automated alerts that tell you a few days before monthly, quarterly, or yearly bills are due, so you can take care of them and avoid annoying and guilt-inducing late fees. Ideally your software should notify you by text, so you’ll be sure and get the message whatever you’re doing and wherever you are.

2. Spending Categories Correspond to Your Actual Life

When personal finance software requires you to shoehorn your actual spending patterns into pre-set spending categories, the result can be confusion and frustration. Look for software that lets you create an unlimited number of spending categories you can customize. Do you buy your employees breakfast once a month? You can make a spending category for it. Are you a coffee or microbrew aficionado? You can make a spending category for it. Your budget should conform to your life, not the other way around.

3. You See How Trimming Budget Fat Affects Financial Goals

Sometimes it just doesn’t feel worth it to hold back at the grocery store after a long day or when buying Christmas presents. But when your personal finance software shows you exactly how disciplined spending helps you achieve your financial goals, like a vacation or paying off a loan, it’s easy to avoid giving in to those little temptations you face every day. When you can see how your discipline pays off, you’re more likely to stick with your good habits.

Start now: Get budgeting software from Mint to help manage your finances and make everyday life simpler by clicking here.

4. You May Have Faced One or Two Painful Truths

Powerful personal finance software can tell you things like how much you spent on fast food last week, or how much you’ve paid in non-network ATM fees this month. Sometimes, getting control of your personal finances means facing some harsh truths, like how much those little extras add up to. Your software should also be able to tell you how much more quickly you can reach financial goals if you cut a certain dollar amount from various spending categories. It’s a great way to stay on track to your goals.

Meeting finance goals with personal finance software5. You Know Exactly How Close You Are to Meeting Financial Goals

Maybe you want to save for retirement, or build up a down payment on a home. Your personal finance software should show you exactly how close you are to your goal at any time. You should also be able to receive monthly emails that track your progress and see how your everyday spending decisions affect how much you’ll have left over at the end of the month. Don’t settle for software that doesn’t let you track your progress easily.

6. Your Personal Finance Software Goes With You Everywhere

Personal finance software that links your computer and your mobile devices empowers you to make smart spending choices anytime, anywhere. Thinking about buying an item you unexpectedly find on sale? You can check your account balances right on your phone and know instantly if you can afford it. You can also set up convenient alerts that can tell you right away such things as whether you’re approaching your credit limits on your credit cards.

Personal finance software has come a long way since the days you had to manually enter checkbook balances and draft amounts. Today’s software offers an astonishing array of features that not only help you achieve financial goals, but actually make your everyday life easier. And when it links your accounts to your computer and your mobile devices, like Mint does, you have all the budget tools you need, wherever you go.

Start now: Get budgeting software from Mint to help manage your finances and make everyday life simpler by clicking here.

The post 6 Signs Your Personal Finance Software Makes Life Easier appeared first on MintLife Blog.

Source: mint.intuit.com

Financial Lessons Learned During the Pandemic

2020 has shaped all of us in some way or another financially. Whether it is being reminded of the importance of living within our means or saving for a rainy day, these positive financial habits and lessons are timeless and ones we can take into the new year. 

While everyone is on a very unique financial journey, we can still learn from each other. As we wrap up this year, it’s important to reflect on some of these positive financial habits and lessons and take the ones we need into 2021. Here are some of the top financial lessons:

Living Within Your Means

It’s been said for years, centuries even, that one should live within one’s means. Well, I think a lot of people were reminded of this financial principle given the year we’ve had. Living within your means is another way of saying don’t spend more than you earn. I would take it one step further to say, set up your financial budget so you pay yourself first. Then only spend what is leftover on all the fun or variable items.

Setting up your budget in the Mint app or updating your budget in Mint to reflect the changes in your income or expenses is a great activity to do before the year ends. Follow the 50/20/30 rule of thumb and ask yourself these questions:

  • Are you spending more than you earn?
  • Are there fixed bills you can reduce so you can save more for your financial goals? 
  • Can you reduce your variable spending and save that money instead?

The idea is to find a balance that allows you to pay for your fixed bills, save automatically every month and then only spend what is left over. If you don’t have the money, then you cannot use debt to buy something. This is a great way to get back in touch with reality and also appreciate your money more. 

Have a Cash Cushion

Having a cash cushion gives you peace of mind since you know that if anything unexpected comes up, which of course always happens in life, you have money that is easy to liquidate to pay for it versus paying it with debt or taking from long-term investments. Having an adequate cash cushion this year offered some people a huge sigh of relief when they lost their job or perhaps had reduced income for a few months. With a cash cushion or rainy day fund, they were still able to cover their bills with their savings.

Many people are making it their 2021 goal to build, replenish, or maintain their cash cushion.  Typically, you want a cash cushion of about 3- 6 months of your core expenses. Your cash cushion is usually held in a high-yield saving account that you can access immediately if needed. However, you want to think of it almost as out of sight out of mind so it’s really there for bigger emergencies or opportunities that come up.

Asset Allocation 

Having the right asset allocation and understanding your risk tolerance and timeframe of your investments is always important. With a lot of uncertainty and volatility in the stock market this year, more and more people are paying attention to their portfolio allocation and learning what that really means when it comes to risk and returns. Learning more about which investments you actually hold within your 401(k) or IRA is always important. I think the lesson this year reminded everybody that it’s your money and it’s up to you to know.

Even if you have an investment manager helping you, you still need to understand how your portfolio is allocated and what that means in terms of risk and what you can expect in portfolio volatility (ups and downs) versus the overall stock market. A lot of people watch the news and hear the stock market is going up or down, but fail to realize that may not be how your portfolio is actually performing. So get clear. Make sure that your portfolio matches your long term goal of retirement and risk tolerance and don’t make any irrational short term decisions with your long-term money based on the stock market volatility or what the news and media are showcasing.

Right Insurance Coverage

We have all been reminded of the importance of health this year. Our own health and the health of our loved ones should be a top priority. It’s also an extremely important part of financial success over time. It is said, insurance is the glue that can hold everything together in your financial life if something catastrophic happens. Insurances such as health, auto, home, disability, life, long-term care, business, etc. are really important but having the right insurance policy and coverage in place for each is the most important part.

Take time and review all the insurance coverage you have and make sure it is up to date and still accurate given your life circumstances and wishes. Sometimes you may have a life insurance policy in place for years but fail to realize there is now a better product in the marketplace with more coverage or better terms. With any insurance, it is wise to never cancel a policy before you a full review and new policy to replace it already in place. The last thing you want is to be uninsured. Make sure you also have an adequate estate plan whether it’s a trust or will that showcases your wishes very clearly. This way, you can communicate that with your trust/will executor’s, beneficiaries, family members, etc. so they are clear on everything as well. 

Financial lessons will always be there. Year after year, life throws us challenges and successes to remind us of what is most important. Take time, reflect, and get a game plan in place for 2021 that takes everything you have learned up until now into account. This will help you set the tone for an abundant and thriving new financial year. 

The post Financial Lessons Learned During the Pandemic appeared first on MintLife Blog.

Source: mint.intuit.com

How to Get the Best Deals From Bank of America?

Bank of America, like most banks, offer several bonuses, either from their credit cards, checking or savings accounts. These deals can be either cash rewards, bonus points, etc. For example, open this credit card then you get a $200 cash rewards bonus. In the past, if you refer a friend, Bank of America would pay you $50 referral bonus. But Bank of America has discontinued the referral bonus when you refer a friend.

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Bank of America “refer a friend & cash rewards” bonus program

While Bank of America does not have a cash reward bonus when you refer a friend, there are cash rewards when you yourself get approved for a particular credit card.

Cash Rewards Credit Card:

  • Receive $200 cash rewards bonus after you make $1,000 in purchases in the first 90 days. Also, you get to choose how to collect your rewards.
  • Plus, earn 3% cash back when you shop for: gas, online shopping, drug stores, home improvements, dining or travel.
  • Get 2% cash back at grocery stores and wholesale clubs.
  • Earn unlimited 1% cash back on all other purchases.
  • No annual fee. Go to Bank of America’s homepage to take advantage of this credit card referral bonus.

Travel Rewards Credit Card

  • Earn 25,000 online bonus points when you make at least $1,000 in purchases in the first 90 days. You can redeem it for a $250 credit toward your travel purchases.
  • Earn unlimited 1.5 bonus points for every $1 spent on all purchases.

Bank of America Premium Rewards Credit Card.

Again Bank of America offers no referral bonus when you refer a friend, but this credit card has great deals and promotions.

  • 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening.
  • Earn 2 points for every 1$ spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
  • Get $200 in travel statement credit.

Make sure you take a look at other Bank of America Promotions.

In conclusion, if you’re looking for a cash reward deal when you refer a friend to Bank of America, you will not find any at this time. But there are several credit cards with great cash rewards. For more cash back deals, rewards or future referral bonus programs and promotions, check Bank of America’s deals here. The site guarantees no coupons or promo codes. You just activate your deals and go.

Here are other popular Bank promotions deals!

  • CIT Bank Savings Builder Account. 0.85% APY. Maintain a minimum balance of $25k OR make at least $100 minimum deposit every month. FDIC insured. Read our review here.
  • CIT Bank Money Market Account – 1.00% APY. $100 minimum opening deposit. No monthly maintenance fee. FDIC insured.  Read our review here.

Speak with the Right Financial Advisor

If you have questions about your finances, you can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

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The post How to Get the Best Deals From Bank of America? appeared first on GrowthRapidly.

Source: growthrapidly.com

Ask the Readers: What Are Your Goals for 2020?

Woman writing down goals for 2020

Happy New Year! With the fresh new year ahead of us, now is the perfect time to take stock of your goals for 2020.

What are your goals for 2020? Why these goals? What steps will you be taking to achieve these goals?

Tell us about about your goals for 2020 and we’ll enter you in a drawing to win a $20 Amazon Gift Card!

Win 1 of 3 $20 Amazon Gift Cards

We’re doing three giveaways — here’s how you can win:

  • Follow us on Twitter
  • Tweet about our giveaway for an entry.
  • Visit our Facebook page for an entry.
  • Follow @janetonthemoney on Twitter.

Use our Rafflecopter widget for your chance to win one of three Amazon Gift Cards:

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Giveaway Rules:

  • Contest ends Monday, January 6th at 11:59 p.m. Pacific. Winners will be announced after January 6th on the original post. Winners will also be contacted via email.
     
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  • You must be 18 and U.S. resident to enter. Void where prohibited.

Good Luck!

Tell us about about your goals for 2020 and we'll enter you in a drawing to win a $20 Amazon Gift Card!


Source: feeds.killeraces.com

How to Throw a Bridal Shower on a Budget: A Guide for the Frugal Host

Between impressive floral arches and customized sugar cookies, throwing a picture-perfect bridal shower aimed at being a social media showstopper can be pricey.

CostHelper.com, a website that compares the cost of services, reports that a typical bridal shower can run from $15 to $40 per person for a luncheon or party in a private room at a mid-range restaurant. If you’re going all out with an elaborate bridal shower, you could be talking $40 to $150 or more (gasp!) per person. Even a small, elaborate bridal shower (think 15 guests) could cost between $600 and $2,250—and that’s before invitations, decorations and cake.

The good news is you can actually honor the bride and your budget at the same time. A bridal shower with simple refreshments at the host’s home, for example, can cost $10 to $15 or less per person, according to CostHelper.com. You just need to employ some creative tips for budget bridal showers to make the event more affordable.

What is the best way to plan a bridal shower on a budget? Follow these six tips as you prepare to shower the bride, and there’s a good chance you’ll have more fun and less financial stress:

1. Zero in on important goals

Before you even begin to plan a bridal shower on a budget, you need to know the goals upfront so you can understand where you should be investing your time and money. Sit down with the bride (or, if it’s a surprise, consult a friend or family member of the betrothed) and establish expectations and a budget to match.

Personal finance coach Emma Leigh Geiser shares her starting tip for budget bridal showers: “Plan an event that honors who the bride truly is and what you can provide, without sacrificing your financial well-being.”

Geiser, who helps women in their 20s and 30s with personal financial challenges, recommends learning what the bride envisions for her celebration and which traditions are most important to her. Be upfront about how much you can realistically afford to spend on the bridal shower, Geiser says. And don’t be shy about saying the bridal shower is your gift to the bride.

If the bride’s priority is to have her bridal shower at a high-priced restaurant, find creative ways to lower other costs to still plan a bridal shower on a budget. Bring your own cake to the venue, for example, exclude alcohol from the menu or keep the guest list small. If the bride is a foodie and wants guests to dine on gourmet dishes, you could spend most of the budget on a favorite caterer, but then consider hosting the event at someone’s home and doing minimal decor so budget isn’t needed elsewhere.

Finding out what's truly important to the bride can help you plan a bridal shower on a budget.

2. Delegate tasks

If you’re wondering how to throw a bridal shower on a budget, know that you don’t have to foot the entire cost of the party yourself. Consider co-hosting with the rest of the bridal party or one of the bride’s family members, or delegating specific tasks to willing volunteers.

When personal finance blogger Becky Beach had her bridal shower, catering was delegated to her sister-in-law. “She knows how to throw a bridal shower on a budget,” Beach says. Deputized to handle the food, her sister-in-law served inexpensive bites purchased from a wholesale club, including sausage-roll appetizers, crab cakes, apple crisp tartlets and cream puffs. (With this lineup, who needs a main meal?!)

Assigning smaller purchases to other bridesmaids and close family members is a good tip for budget bridal showers because it can make the overall cost of the event much more manageable for the host. For example, if you delegate tasks or items that cost $30 each to six people, you’ll save $180. Some popular responsibilities to dole out include:

  • Appetizers
  • Dessert
  • Drinks
  • Invitations
  • Favors
  • Games
  • Prizes for games

3. Let the theme choose you

You don’t have to necessarily come up with a theme first. Among the tips for budget bridal showers is to take inventory of what props or decorations are available to you for free. Do you know someone who threw a bridal shower and has leftover decor or favors? Perhaps a friend’s home decor items will fit the bill—like globes and vintage-inspired items, which can be transformed into an exotic travel theme.

If you're wondering how to throw a bridal shower on a budget, keep an eye out for decor items that can create a theme−not the other way around.

Even store clearance items can be repurposed to help dictate your theme’s direction. For example, a home decor or craft store might have steeply discounted artwork. The trick is to look past the art and focus on the frame, Beach says. Can you replace the artwork with a picture of the happy couple? Maybe you can remove the glass altogether, glue twine to the back and use it for hanging wedding wishes from the guests.

Learning how to throw a bridal shower on a budget becomes easier if you’re able to snag off-season items from a party or outdoor store—such as tiki lamps or beach house decorations—which could make for a wonderful fall island or Hawaiian theme.

When planning a bridal shower on a budget, don’t forget to ask friends and family members if you can borrow other party items, such as cake stands, vases and tablecloths. They might even have unopened gifts or stationery sets that you can use as prizes for games.

4. Do the invitations, games and decorations for less

Sending out mid-range traditional invitations by mail can cost $3 to $4 per guest, according to data from CostHelper.com. Invitation costs can add up quickly when you are trying to plan a bridal shower on a budget.

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“Plan an event that honors who the bride truly is and what you can provide, without sacrificing your financial well-being.”

– Emma Leigh Geiser, personal finance coach

If you’re open to skipping snail mail, you can leverage online invitation services that allow you to create your own designs and send to however many guests you’d like for free, Geiser says. You can easily save around $100 on invitations for a guest list of 30 by going the route of a free online invite. Some services may provide you templates to choose from, or they may include advertisements, but they do the trick nicely.

If you’re wondering how to throw a bridal shower on a budget and still keep guests entertained, search online for bridal shower games that can be printed for free or a nominal cost. You could also go the DIY route if you’re so inclined. For example, have guests try to guess what is in the bride’s purse—it’s even more fun if the bride doesn’t know this game will be played.

As far as decorating goes, focus your efforts on one area that will make the biggest impression. If the bridal shower is hosted in someone’s home, go all out decorating only one room. If the bridal shower is at a venue, like a restaurant, work on fancying up only one wall. Whether at a home or a venue, this area can serve as the focal point of the event and give the bride and guests the perfect spot for photos.

5. Make low-cost venues work

When you’re planning a bridal shower on a budget, opt for a low-cost venue that has built-in unique characteristics. “Choose a space that is its own fantastic backdrop,” Geiser says. She recommends a house with natural light and great landscaping in order to cut down on decorating costs.

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Hosting the party at a bride’s friend’s or family member’s home is ideal, since it would be free. “We all know at least one person who has a killer house; ask them if they wouldn’t mind hosting,” Geiser says. (Be sure to preview the site in advance of the bridal shower.) Another good choice: Apartment buildings and condos often have clubhouses or event rooms that can be used for free or rented for a nominal fee. See if any of your bride’s family or friends have access to these areas.

Other local resources can serve as low-cost venues when you’re working on how to throw a bridal shower on a budget. A park, for example, might have a nice garden or even an indoor space that could be used. Research your town’s online municipal pages for tips on how to secure local venues. Some sites might require a nominal fee, early bookings or have other restrictions, so work on booking a space as soon as you have a bridal shower date in mind.

6. Cut food costs by keeping things simple

Whether you are hosting the bridal shower at a restaurant or at someone’s home, schedule a morning brunch or appetizers and salads in the late afternoon when guests are in-between meals. Breakfast dishes, such as an egg casserole or French toast bake, can often cost less to make than a meat-centered entree, Beach adds.

Keeping food simple is a great tip when you're trying to plan a bridal shower on a budget.

If you are in charge of preparing food, stick with quick and easy options as a tip for budget bridal showers. “You don’t have to cook and create everything yourself,” Beach says. “There are so many beautifully crafted hors d’oeuvres you can get prepackaged.”

If you are hosting the bridal shower at a restaurant, ask if they offer a buffet option instead of sit-down catering: Choosing a buffet meal is typically about 30 to 50 percent cheaper than a sit-down meal, according to Eventective, which helps you find venues and event services.

If you’ve got your heart set on sit-down dining, narrow down the menu options in advance. You or the restaurant can make a simple printout of a few entree choices and not share full menus with guests. (Adding the bride’s name to the top of a personalized menu is also a nice touch.) In addition to being a tip for budget bridal showers, this strategy can also streamline the ordering and serving process so you have more time for games and opening gifts. Win-win!

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Choosing a buffet meal is typically about 30 to 50 percent cheaper than a sit-down meal.

– Eventective, special event and venue services

Keep track of the expenses when planning a bridal shower on a budget

You can master how to throw a bridal shower on a budget if you determine the guest-of-honor’s goals from the start. Another tip to remember when you plan a bridal shower on a budget is to track your expenses throughout the planning and hosting process to make sure you’re staying on budget.

If you are splitting costs with friends and family, remember to get reimbursed—preferably before the event, so you don’t have to worry about tracking people down to talk about business while celebrating.

As Geiser says, “What actually makes the event are the attendees, the conversation and the fun you create as a group celebrating the bride.”

The post How to Throw a Bridal Shower on a Budget: A Guide for the Frugal Host appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com