Properly Managing Your Personal Finances

Although the recession may be nearly over – according to some though not all financial experts – that doesn’t mean you can breathe a sigh of relief and go back to your old financial ways. There are some excellent benefits afforded to those who make the effort to properly manage their personal finances, and in fact, many experts are now of the opinion that personal finance should be a compulsory subject taught in high schools to educate young people how to effectively manage their finances in order to avoid – amongst other problematic outcomes – filing for bankruptcy. 

Why properly managing your finances is important

It’s important to learn how to manage your personal finances for a number of reasons, all of which concern your quality of life. Whilst it isn’t wrong to point out that there are more important things in life than money, it is, however, difficult to enjoy life and your relationships when you’re under the cosh financially.

Borrowing – When applying for finance, like a credit card or loan for example, your credit history will prove to be an important factor in how much you repay on what you borrow. For example if you have a poor credit history as a result of managing your personal finances poorly, you’re likely to repay much more than someone who has kept their personal finances in order.

Marriage and relationships – Your personal finances can also affect your marriage or relationship with your partner for better or for worse. Nothing breaks up relationships faster or more destructively than financial strife and indeed during times of financial strife, like the global economic crisis of late, the number of breakups and divorces is often found to increase.

Your future – It’s essentially your future that’s at stake where the management of your personal finances are concerned, and that of your family if you have dependents. This should serve as the impetus required to take a more active interest in properly managing your personal finances. Your retirement and your children’s future are at stake here, which should illustrate the importance of proper personal finance management.

Personal finance apps

In recent times there have been some notable personal finance apps released for both the Android and the iOS operating systems, many of which, like Expensify, Mint, Manilla and Slice, are free to download from the Google Play store and the Apple store.

Expensify – Widely considered to be among the best apps for business travellers, this app is aimed at businesspeople but anyone can use it.

Mint – Although Mint takes a little time to set up, the general consensus is that this app is one of the most useful.

Manilla – This personal finance app has been found indispensable by those looking to consolidate their personal finances and stay on top of bills.

Slice – An ideal personal finance app for those with a love of online shopping, Slice supports all the major service providers including Gmail and iCloud.

A few handy tips for better personal finance management when borrowing

There are a number of ways to manage your personal finances more effectively, including shopping around for a personal loan in order to apply for the most competitive loan offered. Where borrowing is concerned, it’s imperative that you shop around for the most competitive products, and if you’re applying for a mortgage the general consensus is that it’s best to put down as large a deposit as possible to reduce the total amount repaid.

Furthermore, don’t overlook the importance of creating a budget when making repayments so that you’re comfortably able to repay what you’ve borrowed without adversely affecting your quality of life.

About the Author:Morgan Finance in New Zealand is a business offering financial products for business or personal needs. To know how to get a personal loan, visit morganfinance.co.nz.

It's Not Only the Rich Who Need Accountants

Many people are wary of hiring an accountant in order to get a grip on their personal finances. Not only does pride get in the way, but the cost of an accountant can seem pricey. In San Francisco, for example, hiring an accountant just to complete a simple tax return can run in the neighborhood of $250. Before you completely write-off hiring a professional to help you, consider what that money could get you.

1.Knowledge of Where You Stand

No matter where you think you are financially, chances are you're just guessing. An accountant can look at your income and your expenditures and tell you where you really are. A good accountant can help you determine where your money is going and how to keep more of it in your pocket. An accountant is especially helpful for people who simply don't know how to create a realistic budget. If you want to rid yourself of the stress of living paycheck-to-paycheck, an accountant is who you need.

2.Out of Debt

No one asks to sink into debt. In today's financial climate, it's more unusual to find someone who is financially secure than to find someone who doesn't owe at least one person money. An accountant can look at your finances under a microscope and give you a variety of options for getting back to black. An accountant will not only help get you out of debt, but he will help you stockpile your money in a way that keeps you that way.

3.The Truth

When you tell friends and family, if you tell friends and family, that you're in debt, they'll tell you, at best, that they have even more debt than you. At worst, they'll pity you. An accountant, on the other hand, will simply tell you the truth. An accountant is a neutral third party who has nothing to gain or lose by telling you the hard truth. It can be difficult to face reality, so try to keep your cool. When you hire an accountant to help you, accept the assistance.
4.Education

Not everyone is financially intelligent. You may be in debt only because you make poor choices. You may not understand interest rates, loan terms or how to get the best rates on a credit card. You may never have tried to use coupons, have a mistaken impression that more expensive brands are automatically better, or don't know how you can save money by making simple changes. A professional accountant can teach you all of these things and more. If you feel as though you may not be as financially savvy as you could be, ask an accountant to teach you the ins and outs of money.
5.Become Independently Employed

If you have dreams of becoming a freelancer, you absolutely need an accountant. Tax laws are difficult to navigate for personal finances; they are even more cumbersome for those who work for themselves. A professional accountant can explain the advantages and disadvantages of incorporation, how to file your taxes properly, and even how much to put away each month for your quarterly tax payments.

Don't think that only the rich among us are in need of professional accountants. Any person can benefit from hiring a professional to handle their finances. Whether you need to be educated or need help filing your taxes, an accountant is the professional you are looking for.

Brett Harris is now debt free thanks to the education on finances he received from his accountant. If helping people understand money and its consequences sounds like a good career check out the online accounting degrees offered by several colleges.

Five Ways to Recognize How Much Car Insurance You Need

When it comes to deciding how much car insurance coverage you need, you should take the following five tips into consideration when coming to a decision whether you should increase or decrease or car insurance policy limits. 

#5 - How Much Driving You Do Each Day

Although a car accident can happen at anytime without any notice, drivers who drive a lot should think about increasing their car insurance coverage. This is because drivers who drive a lot have a greater risk of having a car accident. This is one way to determine how much coverage you need.

#4 - How Much Your Assets Are Worth

One of the main reasons why people need car insurance is to shield themselves from liability should they ever get involved in an accident. If you own a lot of assets or have a lot of money in the bank, then you need to adjust your coverage to make sure you have enough coverage that offers you the additional protection you need to shield your assets.

#3- How Frequently You Get Into Car Accidents

Drivers who are prone to getting into accidents should think about increasing their coverage. This is because drivers who get into accidents often are the most likely to have an accident. Drivers who have the greatest tendency at getting into accident need the most coverage because they are the most likely to get into accidents. By having the right amount of coverage, drivers who get into accidents often have the added reassurance that they will have enough car insurance to cover any property damage and personal injury claims.

#2 - The Type of Car You Own and Drive

Drivers who drive expensive cars need the most coverage because expensive can be very expensive to repair and replace. Drivers who do not have enough coverage in place may have to pay out-of-pocket for expenses that go above and beyond the policy limits of the car insurance. This is why it is important for drives to carefully consider how much car insurance they need when deciding how much coverage they need.

#1 - Mandatory Minimum Car Insurance Coverage Required by Your State

When deciding how much insurance coverage you need, there is a lot to consider. One of the most important things you need to consider is how much insurance you must carry on each of your vehicles. Every state has set mandatory minimum coverage, so if you do not have the right coverage on your vehicle you could be in violation of the law. Before deciding whether you need additional coverage, take the time to find out how much minimum mandatory car insurance is required and then decide whether the minimum mandatory is enough.

When searching for cheap car insurance in PA, you have a lot to consider. Your main priority should be to make sure you have all the insurance coverage you need. After taking everything we discussed into consideration, you may decide that you need more or less car insurance. Before making a decision on whether you need to decrease or increase your car insurance coverage, take the time to consider all of the tips outlined above.

5 Tips for Discussing Health Care Reform at Your Business

When a new change to federal law and how businesses operate makes national news, chances are your employees will be concerned about how it affects them. You may or may not have to change how you approach health insurance for your employees in light of the Affordable Care Act, but regardless, your employees are probably worried about how things will change, if things will change and what it means for them. The savvy business owner does what she can to understand the impact of the law on her business. Your plan for tackling these issues at your business consists of five simple steps.

1. Hire a Speaker

Contact a speakers bureau to book a professional speaker with expertise on health care reform and how businesses deal with insurance issues. Even if you have a fairly good idea of how the changes to law may influence your business, you’re probably not an expert on the subject. It helps to have an expert lecturer to deliver the message to your employees.

2. Provide Information

The actual documents put out by the government explaining the Affordable Care Act are tremendously long and confusing to those not familiar with legalese. Your employees don’t have to know everything about the Affordable Care Act, but it would help if they had access to a few key points explained in everyday language. Talk with your hired professional speaker about providing a print-out or a digitally distributed list of key bullet points every employee ought to know. Use the U.S. Small Business Administration information for additional help.

Don’t forget to look into how your specific state is handling the changes and point your employees to the necessary information about the affordable insurance exchange.

3. Explain the Changes

In addition to your bullet points highlighting the basic things to know about the changes to federal law, highlight any changes that will directly impact your employees, or if there won’t be any changes, explain why. With all of the information from a myriad of sources floating around, your employees need to know that they can zero in on the actual points that will matter to them. As their employer, you’re in the best position to provide an explanation of what will be happening at your individual business.

4. Offer a Timeline

If there are changes to come, include a timeline in your print-out or digital distribution of information. It helps employees to visualize the changes by organizing them by month and year. A calendar complete with deadlines highlighted — days on which employees need to provide information or their last days to switch insurers, for example — will prove especially helpful in making the transition as seamless as possible. Send out an additional reminder at least a week in advance of each deadline.

5. Invite a Discussion

As part of your professional speaker lecture on the topic, invite employees to pose questions and discuss concerns with the expert in a forum or debate held after the lecture. In addition to addressing questions and concerns the day of the lecture, keep your office and human resources representatives’ offices open for additional issues that arise. If possible, put up a forum on a locked employee-only website that allows for additional debate, FAQs and discussion about the changes (or lack of changes) to come. If employees feel like you’re listening to them and addressing their concerns, they’re less likely to become stressed out about the new laws.

Your employees need to know how health care reform will affect them, if at all, and your business is the only organization that can really address the issue with them, as it’s going to impact every business differently. Clear up the confusion and anxiety with your health care reform discussion plan. With the help of experts and an open forum for questions and concerns, worrying about the health care changes to come will become less of an issue, and your employees can better focus on their daily tasks.

About the Author: John Raines is a small-business owner in Iowa. He frequently relies on professional speakers to help address important issues, goals and changes that impact his business.

Beginning Online Trading: Some Tips To Follow

Forex-sm (Photo credit: Wikipedia)

Online trading has been a newer interest among the speculators and stock market investors. Features like low entry price, user friendly software and no experience has made the entire process, including trading, charting etc. researching quite easier. While the entire trade seems to be promising enough, there are many tricks and traps as well. 

Though it is not a big deal for those who are dealing with the processes for a considerable period of time, the new traders might not be familiar enough with the different techniques and even a little mistake might reduce their account balances hugely. So, here are some tips for the new investors in online trading; take a quick look before you are going to invest - 

• Assess your financial situation – While investing in online trading is a good option for making money, it is important to check out if your financial status is stable enough for such an investment. Consider your present income, what are the basic expenses, what assets you have, how much debt you owe to the market, how much you can save after making an emergency fund etc. Make sure you have enough risk capital before investing and don't trade on options, stocks, currencies or commodities as that might lead you to serious financial crisis. It is advisable to be mentally prepared to lose some money and this is why it is important to have some meaning money or risk capital for making these investments. You can also consider using a demo account to get a feel of the market trends and how the entire process works. 
• Learn about charting – Charting is an important process of online trading and hence it is advisable to study the movements of charted price of individual instruments or stocks. Consider observing the movements during different time periods of the day, moving from longer to shorter periods of time. This will help you understand the long term and short term trends of the market. Follow the long term trend thoroughly and set your trading strategies based upon that. 
• Be concerned about the Entry Points – Observe the support and resistance levels closely when you are going to initiate the investment. Support level is that above which the stocks or other instruments stay while falling and resistance is the level at which the stocks and other instruments turn down on a rise. Always wait until the price reaches either of the level. Once you can track the underlying trend, be it support or resistance, open a position. 
• Learn the basics of online trading on your own – It is advisable for the beginners to trade in a practice environment to feel your personal trading style. There are different spans of time available and you can choose according to your preferences. While some prefer turning the trades around regularly, others prefers to hold the positions for weeks or at least for several days. Choose your suitable terms of trading and do through research on that. You can visit teletrade in order to get information about FOREX, and know the terms and conditions of dealing with FOREX etc. 

Author's Bio – Jacks is a renowned blogger and he has been associated with guest blogging for the last ten years. He is a pro on writing on online trade, stocks investments, finance etc.

How Do I Sell My House Without A Real Estate Agent?

If you are thinking about selling your home, then you may be asking yourself, "how do I sell my home for the most possible money?". Well, the answer to that is incredibly simple...Sell it yourself without using a real estate agent.

When most people think, "I want to sell my house", they immediately think that they will need to hire a real estate agent to sell the home for them. While this might have been true in the past, technology and the internet has made it quite easy to sell a home on your own. If you follow the steps listed below, you should quickly be able to close the deal and sell your home for the maximum amount of profit.

List Your House Online With FSBO Websites

The first step to selling a house without a real estate agent is to list the property on one of the many for sale by owner real estate websites. The majority of these sites charge quite small fees to list your property, which can save you a lot of money compared to the very high commission rates charged by real estate agencies.

Creating a listing on these sites is quite easy, and only requires that you sign up, choose how to pay for the listing, and then upload pictures, a description, and any other relevant information.

You can then just sit back and wait for people to start to show interest in buying your home.

Receive Enquiries & Talk to Potential Buyers

After creating your listing, you will most likely start to receive enquiries from potential buyers quite quickly. At this point, you can start a dialogue with them and eventually invite them over to tour and inspect your home to see if it's right for them. You will most likely start getting offers from at least some of the people who came to look at your house, and if you do not get any offers immediately, don't worry. Still, if you have many people come to look but none that wants to make an offer, then you may need to lower your asking price.

Negotiate A Deal with Interested Parties

Once you have received a few offers, then you can start negotiating directly with the potential buyers. This step is vital, as you can try to play the offers against one another in order to get the highest possible price for your home. You should not just take the first offer that comes in (unless it is really good), but instead you should be patient and wait to see just what kind of a deal you can negotiate.

Have Contracts Drawn Up By Your Local Solicitor

Once you have negotiated a price with the buyer and come to an agreement, you will then need to hire a lawyer or a solicitor to draw up the contracts. Under no circumstances should you attempt this step yourself. A solicitor will have experience in these contracts and will be able to make sure that the sale is done completely within the framework of the law. This will help you to avoid any potential problems or headaches that could arise down the road.

Settle Your Property in No Time & For Half of the Cost

One thing that is constantly heard from people who have sold their homes using a for sale by owner website is that the entire process went very quickly. If you are truly motivated to sell your home, then you could complete the entire deal within a matter of days. As soon as you have come to an agreement with a buyer, all you need to do is have the contracts drawn up and signed, making the process quick and easy. In addition, you can feel happy knowing that you made the maximum amount of profit possible by not having to pay the incredibly high commission fees charged by most real estate agents. So why not try to sell your home online and see just how easy it is and just how much extra money you can make by avoiding real estate agents and selling your home privately.

Contributor Profile: Contributed by http://www.nocommissionrealestate.biz – a no commission real estate agency in serving the greater part of Australia.