Reassessing Your Finances

Do you really need a budget? Some tend to say that a budget isn't really needed. I do believe that everyone is different, and if you are in debt, you should probably have a budget. Budgets should be flexible, since some things can change.




A good way to reassess your finances is to overhaul your financial health. If there is a way, try to earn extra cash. Never miss ways to make extra cash. It will always help in your retirement.


If you aren't doing your banking through an online bank, you definitely aren't getting a great APR rate. Go to Barclays, and get a great rate on savings and CDs. Although it claims 1.00% APY, if you sign up for a Retirement account the rate goes to 1.05% APY. Barclays also rewards you at the end of the year if you don't withdraw any money you put in. You can go right to 1.05% APY in a savings account at GS Bank. The 1.10% APY 12 month CD is a great rate for a short period. As far as checking, Charles Schwab




If you are investing for the future, you know the importance of a diversified portfolio. Can you be losing money because your portfolio is too diversified? I fell into this trap when I was starting out.
Investing should be involved in any financial issue. Start with as little as $1000 and learn how to do it.

For a great resource planner in all financial matters, Personal Capital has many tools to manage your finances and plan for your retirement.

Extra Money...just in case!

There really are legitimate ways to make money. The possibilities are as far reaching as one's imagination...literally!

Here are some clever ways to make extra money. My favorite is renting your friendship, and they say money can't buy friends!

As far-fetched as it sounds, I think this 'be my friend' thing is a goldmine! Oh please be my friend on Facebook!

I'm just saying...

The Gifts Of Stocks!

Please note:
Since I wrote this SparkGift has been acquired by Stockpile. Stockpile doesn't have the flexibility of buying stocks like SparkGift. I had to sell my stocks to get my money, and I was actually making a profit. With Stockpile you are also limited to the stocks that you can buy. I'm not a member.

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When it comes to Christmas, birthdays, special occasions, weddings, etc., my gifts are cash, gift cards or lottery scratch-offs. I never had a knack for buying the right gift. Now, for the most part, I will continue to give these as gifts, but there may be a better gift buying that can be considered an investment.

I found a perfect site to give the gifts of stocks and mutual funds to loved ones or even yourself. What makes it great is that you can buy stocks or funds for as little as $20. The fee is a mere $2.95+3%. The great thing is that you use a credit card and your gift gets sent in an email with instructions on how to claim their gift.

The great thing is that unlike sites where you have to buy a whole share, your investment buys fractions of shares. An example is if you invest $50 and a stock costs $100, you get .5% of a share. If you're like me, this is a great way to build a portfolio on the cheap!

SparkGift is a site that is practically addicting to me when it comes to buying stock for loved ones and myself. Imagine how much easier it is to invest for your children. The beauty is that you can buy shares of the stocks and funds that they suggest, that are sure winners but a bit expensive, or you can buy whatever you want from stocks and funds.

The One I Got Right

Perhaps you missed my last entry, but just so you know, Exelixis is flying high. I've been following this stock for the past three years, and I've seen extreme lows but some extreme highs like the past couple of months. I've lost a significant amount, but now it has more than made back my loss.

What caught my eye and drew me to this company? Look at the description...
Exelixis, Inc. is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ. It is evaluating Cabozantinib in a development program, which consists of over 45 clinical trials, across multiple indications, including pivotal studies in advanced renal cell carcinoma (RCC) and hepatocellular carcinoma (HCC). Its other products are Cobimetinib and XL888. Cobimetinib is a potent, selective inhibitor of MEK, a kinase that is a component of the RAS/RAF/MEK/ERK pathway. XL888 is a small molecule oral inhibitor of Heat Shock Protein 90 (HSP90), a molecular chaperone protein that affects the activity and stability of a range of regulatory proteins.

Cancer treatments are the future with the aging baby boomers and other generations where cancer will still exist. I'll admit pharmaceuticals are risky since some other company may come up with a generic version. They are a roller coaster ride, so not for the weak hearted.

At one time, all the analysists said don't buy this stock or sell the stock if you have it. Look what they are saying now, here, here and here. Financial advisors might laugh at my layman's assessment. I'm just in shock and awe how this stock is currently flying high!

Buyer Beware Buying A Car

There are services out there that charge you a fee for something you can get for free. LifeLock offers Identity Theft Protection for a few. Free ID protection is offered by Credit Sesame, which along with Credit Karma will supply your credit scores from all three credit agencies. This bypasses the yearly annual report everybody is entitled to, and is FREE!


So now we are hearing about CARFAX that gives us a history of any vehicle we hope to buy...for a fee. Car buying is a stressful situation because we are about to spend thousands on a mode of transportation that we hope will be reliable and not a lemon or a rip off!


Besides relying on a vehicle history we should be advised to have a reliable and trustworthy mechanic to inspect our selected purchase. Still there are free and MORE reliable services that can check a car's history.


AutoCheck, VinAudit, and NICB offer better service for FREE!


Remember to do your research before jumping on any vehicle that a dealer seems to steer you to.

Useful Links

Sometimes I wish there were ways to make things easier, especially if it comes to a way to save money. In today's world we should protect ourselves from possibly facing an identity theft that leads to financial ruin. Strong passwords and a good anti-virus protection will help.


For the best protection, you should have a strong password for each site, rather than one password for all sites. You should write your passwords on a notebook and keep them in a secure location. You can also use password managers such as RoboForm or LastPass.


When it comes  anti-virus' there are a vast number of different ones on the market. AVG and Avast offer both free and premium anti-virus'.


Financial health means possibly going on a spending fast, or freeze, for a day, a week, two weeks, or a month. Anytime you don't spend money puts money in your pocket. Find tips here, here and here to name a few.


Sites that save you on merchandise from food to goods are always worth trying. Coupons.com and SavingStar are useful to help you save. I also recommend applying for the retailers reward cards.


I was just turned on to a rather novel idea. If you buy gift cards from pawn shops or people trying to dump them for cash, you will save on merchandise and food. Try Raise.com where you can get deals and save some money.


If your still hesitant about investing, WealthFront will customize an investment plan and won't charge you until you reach $10000.

The Road-BLOCK-To Riches

Why aren't you rich, regardless of what you earn? It's really no secret. You live above your means(Period). Rationalize and come up with as many excuses as you must, but that is the truth when it comes to your financial situation.

Unfortunately, sometimes living beyond your means can be a form of self preservation. You don't want to live in a high crime area just to save on rent or home ownership. Living beyond your means actually can be summarized as putting your wants ahead of your needs. Your wants require no foreseeable sacrifice but will come with a great price in the near future.

We are materialistic and tend to try to keep up with the Joneses. If the Joneses are more financially stable than ourselves, we are doomed to financial ruin. Yet we continue to spiral in debt because we want more than we need.

When it comes to money, it takes discipline and discipline requires sacrifice sometimes. That is the reality. If you want fantasy, then keep on dreaming. Eventually you will have to pay the piper. God help you if it catches up at your retirement. I know people who haven't saved or invested one red cent their entire working career and have constantly borrowed from their retirement. Their choices are work until you die or retire penniless. This is just a fact.

If you're OK with your current trajectory in financial situation, then continue to dream and prepare for your nightmare. If you want to face facts about your finances, be sure to correct what may be keeping you poor!                                                                                                               

Investing For Less

It's time to take the leap and start investing. For as little as $250, you can start investing. The thing with investing is that you have to do your homework, especially if you want to avoid the fees associated with investing. I suggest you drop the excuses and start investing.


There is a lot of information on how to get started with not much money. I was shocked to learn that you can buy stocks directly from companies. The list and requirement information is priceless.


When it comes to money and money matters, check out Money Talks News that is loaded with easy sustainable financial goals.

Money 2015

A new year is here and our best 2015 money moves are to save and invest and to stay out of debt. I may have talked about it elsewhere, but now is a good time to start the 52-Week Savings Challenge. In the end you will save $1,378 this year. I do it a little bit different by starting with the highest and working my way down. For me this makes sense since I earn more at this time than I will later.


The beginning of the year is a good time to give your financial matters a review. You can never be reminded enough when it comes to finances to make sure you're still on target or ahead.


If you're paying for credit monitoring you can get it for free at Credit Sesame. Credit Karma is similar and also tracks your spending. These sites are offered by one of the credit monitoring agencies. Trans Union and Experian so your scores may vary. Credit Sesame also offers free ID Theft protection. Aside from the credit card and loan ads, these sites are informative and informative.


When it comes to money matters people need to decide on whether to hire a financial advisor. The site offers a free DIY tool for those who shun advisors. If you are a DIY-er, make sure you have knowledge on the topic.


It's never to early to supplement your retirement income.


Nvestly is a social platform that allows expert and novice investors to share investing knowledge.


Learn easy money saving tips that can help you save up to $3000 a month.

Money Changers(RESOURCES)

Investor Junkie is not only a site that teaches you to invest or educates you on your money, it also gives you reviews on various financial sites. From brokers to banks to do-it-yourself investors, this is a must visit site. Before using financial sites online, check out what an Investor Junkie review says about it.






Ready For Zero is a site that will help you get out of debt. It is the true light at the end of the tunnel.




Most of us old timers think we have a financial plan for our longevity and lifestyle. It doesn't hurt to make sure that our plan isn't missing certain essentials. There are so many things you may miss. Currently I am looking into a will, and the article offers helpful sites. Yes they even have the frugal one's favorite-FREE-but I'd still consult a lawyer, but to each their own.


Do you need tools to create your financial plan? I have you covered!


If you are frugal, that should not stop you from investing. Learn to invest a small amount here.

Financial Journal 1

This is the start of a financial advice journal that combines everything from saving to budgeting to retirement and beyond.


Want to retire with a million dollars? Although it may not be too late, it may be best to start young.






April is a special month that affects our finances. beyond tax-time.


April should be the first month to get a free credit report. Notice I said "a" as in "one" credit report. Since you get a free report a year from each agency, get one from each one every 4 months.






What if money came with rules? If we lived by these rules we may be prosperous. Well money does have rules to live by.




Are you putting off financial obligations until 'someday'? Well someday never comes and here are financial tasks that need immediate attention.




Here's a site that offers tips and techniques to tweek your finances.


I use both banks and credit unions for my banking needs, I even bank online and take advantage of higher interest rates. Here's a way to find the right financial institution for your needs.

Free Financial Online Courses

Throughout our lives we must make financial decisions that can make or break us. If we save and prepare for any financial pitfall we may be able be able to weather any storm that comes our way. If we live paycheck-to-paycheck we may find ourselves on the road to ruins.


Since financial planning is a lifelong task, the more we know the better off financially we would be. Makes me wish I had taken more business courses in college. Too bad, because most of us need financial planning. So, I thought, why not go back to school for free.


When you begin a college course you start at 101, so Money 101 is where to start. I like this site because it covers every financial aspect that will last a lifetime. You will find that Money 101 is a recurring theme throughout the links.


USU offers a course to help with family finances. Make no mistake, this also helps individuals. You can find more free courses here.


If you are a Generation X-er, you might profit from these courses.


You can find more financial courses here.


So there you have it. Take free financial courses that will make you money!

Social Networking And Finances

Social networking on the internet seems to be the fad of our time. Companies promote their merchandise, people keep in touch with family and friends, and the list of social networks benefits goes on. In today's world, social networks are where most people spend most of their time.


I believe that aside from the social networks that are geared toward businesses, most networks have peaked and will see a steady decline in the next few years. Aside from taking up time with gossip, social networks may be costing you financially. I tend to agree. I very much believe that what you put on a social network can come back to haunt you.


Experts seem to believe that social network overload is already setting in. Still some can still see the positive. I still believe that it can hurt you financially.

2014-The Year To Be Money Wise

With the start of the new year, we would benefit by reviewing all our finances and strive to save more, invest more, and make more money. At the same time we should be looking for ways we can cut frivolous spending and areas where we can put an end to wasting money. Over the years, it has been a trial-and-error when it came to money, and I have sustained losses, but through some sacrifices, I believe anyone can get their finances in order.

In The Beginning...

Since everyone is different in their financial goals and where they are financially, we need to get a grip on reality. Debt is not a good thing and "Keeping Up With The Joneses" will lead to financial disasters if you don't make as much as the Joneses!

The Rolling Stones summarized it best when they sang, "You can't always get what you want..." "...but if you try, sometimes you get what you need!" Your financial goals should focus on your needs first, and your wants should be put on hold until you can afford them without going into debt. We need to learn to live within our means, otherwise we will be forever in debt. Retirement may lead some directly to the grave, if you have to continue to work to meet your needs, because you went overboard on your wants in your younger years.

Yesterday, Today and Tomorrow

Times have changed, yet history continues to repeat itself. We don't save and invest enough to build a nest and get struck by unforeseen bills and higher prices on goods that lead us to live from paycheck-to-paycheck. And therein lies the secret to the poor bloke who has to work forever because of unwise choices that depleted from any savings. Hoping to retire on Social Security won't cut it if you live much longer and the value of your payout has less buying power in the coming years.

Your payout may be for the rest of your life, but a dollar had more buying power in the 1990s than it does in 2014. Think about that. If you live even 10 years after retiring, you may not be able to buy or afford as many goods, and your NEEDS may be compromised.

The Kleptomaniac Buyer

If you can't grasp the old adage that claims that A fool and his money are soon departed, then go ahead and keep up with the Joneses. A kleptomaniac is known for stealing items that he has no need for. What's worse is a person who buys items that he has no need for. A must for some in 2014 is to put some purchases on hold, especially those that seem like an impulse buying item.

Skeletons

We all have vices and lusts and are often led into temptations. Addictions are a big money draining problem. The prime evils are alcohol, cigarettes, drugs and gambling. I am not here to judge, I only want to point out the money being wasted on things that could even affect your health. Just a thought.

2014

Happy New Year!

May yours be profitable. Remember that some sacrifice is needed, but you might still be able to trick yourself into saving money. Starting a financial journal isn't a bad idea!

Retiring Securely

The sooner you start saving for your retirement, the more of a secure retirement you will have. It's never too early to start and I would recommend starting to save at birth. If you don't save enough for your golden years, you will be spending them at the "Golden Arches" to say the least.

There are rumors that Social Security, won't be there in a few more years and retirements are being taken from the private sector as corporations file for bankruptcy. Nothing is ever really guaranteed in life, and sometimes it pays to prepare for any unforeseen situation that will have a monetary affect your retirement.

I suppose that people fail to save for retirement because you never think of retirement until you finally got old. There are those who can retire as young as 40, and I'm sure some can retire younger and some are born retired.

If you wait until the age of 70 to collect SSI, you will double the benefit you get at 62. If at 62 you get $1000 a month you will get up to $2000 at 70. Considering that one is in good health, it may be to ones best interest to retire at 70. Remember that your retirement must sustain you until you die. The earlier you retire on Social Security, the less your benefit will be worth.

If you have saved and invested enough over the years, it really don't matter because SSI is just gravy. Many people fail when it comes to saving for anything due to budget failures.  So plan carefully when it comes to retirement, because I haven't even scratched the surface.

The Right Start Financially

At what age should one be educated to be money wise? New research suggests that our money habits are set by age 7. So basically the sooner we learn about money, the better we will be at managing our finances in life. It's tough talking to kids about money, but it can be done and by doing this it helps them make wise decisions about money.

Many of us have had a carefree childhood, where our basic needs were satisfied by our parents and others. If we were given an allowance, we probably didn't save it. If we earned money through chores or a paper route, we may or may not have saved, nor did we still understand money.

By being educated early and taught to save or do without things, we will know how to save for what we want, and how to put money away. Early education on money matters will make kids responsible for the decisions they make about money.

There are so many topics kids need to learn about money, so it is always good to start with the basics. I wish my parents and teachers had taught me more about money at an early age. In most families money is taboo and is either discussed later in life, or not at all.

Today with the internet, education is easy. Even the government has educational sources to teach your children well. Still the more you know the more prepared you are to set your kid on the right financial path. You know you really hit home when the lesson is learned.

A great interactive site for both parents and kids can be found here. Ironically its theme is about the true dynamics about money-Save, Spend and Share. I call this The 3 $s!

Money Tools and Resources

If you've mapped out your financial goals, goalgami will keep your financial future on track. It also has the What ifs, sort of covered.

ClearCheckbook is yet another money managing site that tracks your expenses.

Tip Hero gives great money-saving ideas.

Wise Bread teaches you frugal ways to live comfortably.

Real Clear Markets is a blog for investors.

Financial planning at a glance.

Learn the basics.