You Can Handle The Truth Money : Money as Debt

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Loans

When you borrow money or take on credit, whether through a credit card or a bank loan, it's important to understand interest because it can vary from company to company, and can be quite costly.When evaluating debt, list it in order of highest rate to lowest.

Money...money..money..

Are you a balanced spender/investor or are you a Binge Spender? A Big Spender or a Micromanager? Take this fun quiz to find out which money personality best describes your style of money management. You may find that two or more answers to some questions seem correct in describing you. In that case, select the answer that is most like you. Keep in mind that everyone is a blend of all the major personalities and that each type has both good and bad qualities to it.

http://myvesta.org/tests/moneypersonality/

You Could Live in The Top 2% of America!

But what does this mean?

• Having enough income to live the life you want. No longer worrying about day-to-day expenses and knowing that you and your family will have enough to maintain that lifestyle in the future.


• Being physically, mentally, and spiritually healthy. Feeling energetic and alive at any age.


• Having happy and rewarding relationships with family, friends, and colleagues. Being fully engaged and passionate about life, facing every day with a feeling of expectation and excitement.
  

It’s no wonder only 2% of Americans enjoy this lifestyle. It just doesn’t happen. It takes learning the specific skills that are present in all high achievers. Sadly, these are not the skills taught in our nation’s schools and universities.

By simply taking this test you are already ahead of the pack. You are taking the time to learn about yourself and steps you can take to “Live in the Two.” Our experts have identified five distinct categories, or character traits, that ultimately determine the likelihood of one's achievement. Based on your responses to our survey, the following profile has been customized to describe your current life situation. Read your profile below...

Discipline
While hard work is certainly instrumental in attaining success, it is useless without discipline. Discipline is the ability to set goals, manage one's time, measure results, and maintain overall balance in life. Although you don't think of yourself as the "anal-retentive" type, others have a tendency to view you as "over the top" organized. Little do they know that secretly, you feel as disorganized as the next guy.

Passion
It's more than just hard work, it's holding on to the dream. Though life comes at you hard sometimes, every person must have an instinct to press on and dream big. Regardless of what you do, it is only success when you have done your best. Although you are always enthusiastic about your goals, you also tend to be practical in your approach to accomplishing them. All passion can lead to disaster without the proper forethought.

Risk
Risk is not always a matter of rolling the dice, and in this case, our goal is to measure one's willingness to step out of the "comfort zone." Success often requires change, and the road is often paved with new challenges that defy complacency. While you're always up for a good adventure, you've learned to wisely temper the thrills with a bit of discretion. You've undoubtedly had a few failures that have made you less likely to "dive in without testing the water" first these days.

Optimism
"You are what you think about," so the saying goes, and it is no surprise that happy people are, well, just happier. This category of optimism includes both internal and external sources of positive affirmation (i.e., self-esteem, confidence, self-image, spiritual acuity, etc.). If positive outlook is a requirement for success, then you seem to have the world by the tail. Without being boastful, you have a genuine sense self, and find value in being yourself. You are a pleasure to be around and find your time in high demand by others.

Interpersonal Skills
Relationships are pivotal to overall success, and that not only includes personal relationships, but also the ability to deal with people. Negotiating. Selling. Public speaking. Regardless of your trade, these factors are all necessary for ultimate success.
Face it, you're just not an extrovert, and depending on your career track, that could be a problem. While you do enjoy a certain amount of interaction with people, you're most comfortable in small groups or one-on-one.

In conclusion...
If you’re like most people, you have just learned a few things about yourself, and probably confirmed some that you already knew. And while gaining insight about yourself is interesting, it is only valuable if it used to improve your life. The truth is, of the thousands of people who take this test, only 2% will ever use these test results to live a life of fulfillment. The rest will simply make excuses. “I don’t have enough education.” “I’m too old.” “I’m too young.” “I’m just not lucky.” “I’m not smart enough.”

For 50 years, we at Nightingale-Conant have been helping hundreds of thousands of people reach their full potential - people who were no different from you, except for maybe on thing - they believed that their past didn’t predict their future.

Find times to explore your own self. Mr. Dollar would recommend you to try and visit the attach website. Kudos !!!

http://www.liveinthetwo.com/test/

Credit

Investing 101

Investment Planning

The process of placing money in some medium such as stocks or bonds in the expectation of receiving some future benefit. Speculating – a form of investing in which future value and expected returns are highly uncertain.

The Most Frequent Investment Objectives :

• Enhance current income
  
• Save for major purchase
  
• Accumulate funds for retirement
  
• Seek shelter from taxes

Establishing Investments Goals :

• What will you use money for?
  
• How much money do you need to satisfy your investment goals?
  
• How long will it take you to obtain the money?
  
• Are you willing to make the sacrifices necessary to ensure that you meet your investment goals

Factors Affecting The Choice of Investments:

• What will you use money for?
  
• How much money do you need to satisfy your investment goals?
  
• How long will it take you to obtain the money?
  
• Are you willing to make the sacrifices necessary to ensure that you meet your investment goals

Life Insurance

What happens when something goes wrong and there's a cost involved to make it right again? If you have a car accident, how will you pay for repairs? If your family need hospitalization, how you will pay for it? If you property is damaged of if you get sued for damaging someone else's property, how you will cover the cost?

You never know when financial catastrophe might strike. Let's think about it !!!!

Financial Fitness Calendar

Interested in long-term financial security? Consider giving yourself the gift of financial fitness all year long. Unfortunately this gift does not come neatly gift wrapped with a big, pretty bow. You must work hard to make this gift a reality. You may even have to make sacrifices such as fewer meals out, less money spent on clothing or entertainment, or driving your car another year.

How do you get started? Consider the following suggestions from Clemson Cooperative Extension in South Carolina:

January: Get on the financial scales and create an overview of your financial situation. What do you own and what do you owe (your net worth)? How much income comes in and where does it go?

February: Keep an expense log for several months. Compare expenses with income. Income should exceed expenses or you are headed for financial trouble.

March: Reduce clutter in your financial life. Keep only important receipts, records, and papers. Instead of using the "stash and pile" method of organization, use the "file It, find It" approach.

April: Trim your taxes. Track all deductions, contribute the maximum to tax-deferred retirement plans (e.g., 401(k)s) and evaluate potential tax credits. Meet the April 15th deadline or file for an extension to avoid penalties.

May: Reduce expenses and debt. Curb the temptation to spend more than necessary and avoid the overuse of credit. Get in the habit of "smart spending." Before making spending decisions, ask yourself, "Is what I am getting today worth the money I lose for future goals?" And remember, using credit does not extend your income, it only adds to your debt.

June: To ensure steady, healthy growth of your net worth, use the savings strategy, "pay yourself first." Establish a regular savings plan and consider it one of a major bill to pay monthly.

July: Exercise the best insurance options. Review all coverages. It is a good idea to compare your company's coverage with that of two other companies to be sure you are getting the best protection for your money.

August: Now that you have a good understanding of your resource base, you are ready to begin working on establishing long-term financial goals. Identify your long-term goals, attach a dollar value to them, and develop a plan to achieve them.

September: Choose a savings or investment plan to help you reach long-term goals. Explore options available through your employer and financial institutions.

October: Make dinnertime a special time. Share money management skills with your children and encourage them to save and invest for their financial future.

November: Keep your financial health in good order, even if you become physically ill or incapacitated. Execute a living will, health care power of attorney, general durable power of attorney, and will.

December: Distribute good will to family and friends and share your bounty with others. Give wisely to charities. Be sure the charity is reputable and know what they do with the money collected.

Source : Rutgers

You Can $tart $mall

It's myth that you need a lot of money to invest. The truth is you can start small, and in many cases do it through payroll deductions, so it is systematic and painless. If your company has a payroll deduction plan, you can designate an amount of your paycheck that will go to a savings account or other instrument. You never see it, so you're not tempted to skimp on your savings.

When you invest money, you're really lending it to a bank, a corporation or a government in exchange for a promise that the borrower will pay it back with interest. Just as using credit is like "renting" money, saving and investing are like being the "landlord" of your money. You "rent" it out to others.

Warren Buffett said :

"The investor of today does not profit from yesterday's growth".

http://simulator.investopedia.com/

The $ecret to Creating Wealth

The Financial Planning Proce$$

1. Determine your current financial situation.
2. Develop your financial goals.
3. Identify alternative courses of action.
4. Evaluate your alternatives.
5. Create and implement your financial action plan.
6. Review and revise your plan.

Components of Financial Planning

• Obtaining
• Planning
• Saving
• Borrowing
• Spending
• Managing risk
• Investing
• Retirement and estate planning

Be A Millionaire