Building an Emergency Fund Needs to Be Part of Your Financial Planning...

Jun 24, 2014 by

Building an Emergency Fund Needs to Be Part of Your Financial Planning

None of us have the ability to foresee the future or predict the hurdles which lie ahead of us. This makes building an emergency fund a financial priority. Building an emergency fund is healthy for your financial well-being, since you’re rarely given advance notice of a setback or an accident which will keep you out of work for an extended period. It is also a safety net that can save you from bankruptcy or severe financial hardships in the event of an unexpected change in your income or expenses. Housing a small rainy day fund should be a vital part of an individual’s financial goals. This is of high importance if you don’t already have readily available funds in your account for covering any unanticipated expenses. They provide financial security because they give you...

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Be Financially Prepared For an Emergency...

Jun 24, 2014 by

Be Financially Prepared For an Emergency

A little planning now can help you handle a natural disaster or other emergency. Many Americans have focused on their need to be prepared in case of an emergency. Very few, however, consider financial preparedness in their plans. From keeping an evacuation box with important documents to setting up an account with emergency funds, preparing now can be the difference between financial security and financial crisis. These simple tips from financial experts at Savemoneyliverich.com can help anyone prepare financially for a natural disaster: Conduct a Household Inventory – Create a household inventory for items of significant value and locate originals of important financial and family documents. Store original documents in waterproof bags in a safe deposit box or durable “evacuation box” and photocopies in a safe place. Use a CD to back up key...

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Are You Living Beyond Your Means...

Jun 24, 2014 by

Are You Living Beyond Your Means

You’ve worked hard all day and come home at night, only to discover that you can’t get comfortable in your own bed. You toss and you turn for well over three hours. As 3a.m. approaches, you finally go to sleep but the alarm sounds all too quickly at 6 a.m. It’s time for you to go to work. Day two comes and you’re off again to the usual rat race. You repeat the same pattern once you get home. Later that night you lay in bed, thinking how you’re going to pay all of these bills. Despite your best efforts on the job, including overtime, it doesn’t seem to be enough. What can you do? Who can you to turn to? Does this sound like you? Are you having sleepless nights because of your...

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10 Warning Signs to Identify You Are Living Beyond Your Means...

Jun 24, 2014 by

10 Warning Signs to Identify You Are Living Beyond Your Means

Do you find that keeping control of your finances is becoming increasingly difficult? In today’s society, advertisements bombard us with offers which encourage us to spend!  Spend!  Spend!  With promises such as- “Easy Credit!” “Pre-approved loans!” “3 years interest-free credit!” “Free gift when you apply!” To most people this can all seem rather tempting, given the current “live for today” attitude.   But too much can be spent on luxuries, leaving not enough to pay the bills. Certain kinds of debt may be appropriate, such as a mortgage or a car.  Many people, however, try to buy more than they can afford.  Indeed, banks and businesses encourage us to do so. Credit cards can be too easy to obtain yet too difficult to maintain, especially when people find themselves borrowing from one card to pay...

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A Look at Personal Bankruptcy & What to Expect...

Jun 24, 2014 by

A Look at Personal Bankruptcy & What to Expect

One of the most difficult decisions that you can face is whether or not to file for bankruptcy. For individuals, there are basically two types of personal bankruptcy, which includes Chapter 7 and Chapter 13. Designed to give the filer a fresh start in life by wiping out certain debts, a Chapter 7 bankruptcy will rid the filer of credit card and other unsecured debt. A chapter 13 bankruptcy, on the other hand, is a court-approved payment plan in which the filer is required to repay a predetermined percentage of their debt. The determination of which chapter to file will be based on the filer’s disposable income, if any, after paying their necessary monthly bills. When many people file for bankruptcy, their first thoughts are of their assets and whether or not they may...

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