Financial Contemplation for Couples

Becoming a couple changes your financial situation. Whether you are in a serious relationship, newlyweds, or tied the knot years ago, there is an undeniable stress that comes from mixing love and personal finance.

If you are getting married, you and your future spouse are ready to embrace all of each other’s outstanding qualities and unconditionally accept any less-than-ideal traits. However, before you walk down the aisle and commit to spending the rest of your lives together, you need to discuss how you will be spending your money as husband and wife.

Avoid financial problems and start making plans for your future together. Find the resources you need to stay committed to successful financial planning together. Money does matter when it comes to having a happy, healthy relationship so couples should try to devote time to improving their financial standing. A little honest communication could keep your relationship from becoming a statistic.

When you and your partner are busy balancing everything in your lives, sometimes financial planning can fall to the wayside. Following are 10 quick tips about financial planning together for when life gets hectic.

1. Set priorities and specific goals. Don’t assume you both have the same goals without discussing them.

2. Discuss values. Sometimes differing values make agreement on goals difficult. When one person wants to spend now and one wants to save for later, it can be a source of friction. The same is true when one spouse tends to be less risk oriented than the other about investments.

3. Plan in five year units. When planning for five year blocks, you can set both intermediate and long-range goals without feeling you’re being deprived forever.

4. Budget together. Set up a manageable system for your cash flow together.

5. Know where your money is going. Keep records of your spending.

6. Don’t assume that because you’re both working that you have a lot more to spend.

7. Save regularly so you aren’t locked into that second income.

8. Who handles the actual paperwork can be a matter of personal preference, although both of you should practice at it.

9. Don’t confuse the task of doing paperwork with the act of financial decision making.
10. Sit down together and discuss finances at least once a month. We all know that communication is crucial in developing a healthy financial relationship, yet it’s sometimes hard to know where to start. Since taking the time to talk is a great.

Finally, the most important money move you might make for your relationship is to embrace your differences. Understand that you cannot change feelings created by a lifetime of experience; instead, try to cultivate the positive aspects of each of your styles. There is no one “right” way to handle your finances and a marriage of your money styles may be the perfect solution.

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Taking On Your Personal Finances to A Higher Level

If what you spend is equivalent or even more than the amount you earn, then you need to make a balance between earning and spending. However, it is unfortunate that spending less is not always an option. If you have assessed your finances, and it may be saying that you need to increase your financial earnings, then, it may be the right time to consider looking for other source of income or finances. You have to know that it is not really as hard as it sounds. With some planning or being resourceful, earning more should not be too difficult.



> ASK FOR A RAISE AT WORK: – Having ideas on how to earn more may not require an elaborate moneymaking scheme! It may only take for you to have a closer look on what you are already earning. At work, if you have been working with the Company for quite some time, then perhaps you can apply for a higher work position, which of course will convert into higher salary. Or, you can simply ask your Company they could consider a pay raise, you have to provide something that will consider them to give you that raise, how you performed at works a big consideration.

> CONSIDER HOME-BASED BUSINESS. – This can be done full-time or part-time. Home-based work is an excellent way to earn extra income. Having work at home and tending on your personal chores is a challenge, just make sure to devote a certain work schedule for the house and “work” at home. See also that you are able to manage your finances as “self-employed”.

> SELL SOME PERSONAL ASSETS. – Assets are physical acquisitions, such as home, car; monetary property – mutual funds or certificates of deposit; or intangible rights, i.e. money owed to you by someone. If you what you owe is greater than what you own (your assets), selling some of your assets can help tip the scale in your favor.

> SELL ONLINE. – You may want to consider start an online business or you just want to unload some items that can put additional source of funds, you might want to explore selling online. It is a great place to connect with interested buyers. Just make sure to be aware of legitimate buyers, from hoax ones.

> TAKE LEAD! – A quick search online will open your minds about countless ideas on how to earn money more!  From creative extra income solutions that are good in a pinch to longer term solutions for earning additional income. The trick is to pick what you’re interested in and take action. A lot of people panics when they are spending way too high and are not earning much. It is okay, but you can’t allow the feeling of helplessness to overpower you, or you will be financially paralyzed. Out there, are countless possibilities to earn extra!


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Gearing Up Your Personal Finances

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Basic Reasons Why Budgeting Fail

coins-1015125_1920I always wonder why is it that no matter how I put extra job/income and put a watch on my budget, I still tend to fail to manage my finances. Perhaps, some of you has this same situation, too.

As I am always reviewing my finances, I came to realize few things that I may have been falling short of.I have short-listed some of the mistakes I kept on going back to:

  • Lack of Self-Control – Setting aside funds to cover my bills, but used it for something totally unrelated. Each salary day, I set aside money for all the bills and other expenditures. However, there are just moments that I could not control spending on something that is beyond the budget allotted for the month.

         End result: more overdraft fees, penalties and panic attacks than I wish to reveal.


  •  Unrealistic Spending – I set aside a grocery bill every week. But I always end up adding little items at the store, and tend to forget occasional dining out, gas, or entertainment. These small amounts added to the weekly spending (let’s say $25 per week that is already a $100 in a month!), is already something that could have been used to cover for the debt payments.


  • No Blow Money – In life, things happen! But the real test is whether or not we are prepared financially or not. No matter how much we have saved in our emergency fund, budget needs a cushion each month to cover the small, but unexpected increase in expenses. Otherwise, we’ll continue to dip into the savings account until it no longer exists, forcing us to resort to credit cards or personal loans.


  • Base the Funds on Gross Amount, Not Net – Once we are employed, we have the tendency to plan our regular spending based on the gross monthly income. We tend to forget to account for the taxes, retirement deductions and benefits, which definitely steal a portion of the salary! It is a simple thing but yes, we tend to forget all about it.


  • Pessimist’s Mentality – I believe in the old adage “Your attitude determines your altitude”. This definitely applies to budgeting; if you view the entire process in a negative light, chances are it won’t work out for you and you’ll continue to live in dire financial straits. By contrast, constantly reminding yourself that it’s totally possible to follow a spending plan is one of the most important things you can do to stay motivated.

At the end of the day, before I completely overhauled my budget, I spent few moments scribbling financial goals I wanted to accomplish in the future. Some could be as simple as saving for a family vacation fund, but, it became a great way to stay motivated every month!

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Review of Some Best Personal Finance Website

worried-30148_1280When dealt with financial troubles, we could use all help we could get. These days, we now have more control of our money than ever before. But that convenience could mean disorganization, reckless spending, borrowing and debt.

Having poor money management techniques to your personal accounts is one thing, but doing the same to your small business funds could be disastrous. We may not be able to help you to become sensible because that’s on you. But, here are selected tools which can make a difference on how you think and act with your capital.




QUICKEN Premier – One of the most popular name in personal accounting. Quicken’s desktop tool is well-aged, feature-packed (though a bit outdated). It neatly links transactions between your accounts – so transferring from savings into a current account is one entry, with a ‘from’ and a ‘to’ rather than a pair –provides various budgeting and prediction tools to keep on track.


Personal Capital – Primary function is to track your investments, assets and savings, rather than specifically looking after your current accounts. Personal Capital offers specific advice and statistics based on your goals and current standing, but access to human financial advisors is where the company makes money. Anyone is welcome to use its website, but only accept you as a customer if you have at least $25,000 in liquid assets, and there’s an annual fee (a percentage between 0.89% and 0.49%) to pay for your assets’ management.


Buxfer   - An online service that does a good job of presenting your finances in a clean, professional manner. No need to provide your exact banking details if you are not comfortable. You have the option to go offline on your bank account, but if you are comfortable, there is a security encryption to protect your data and company is regularly edited.


You Need A Budget – YNAB’s primary mission, is to help you curb overspending and avoid living from paycheck to paycheck. Stick to the program, temper your spending appropriately, and eventually YNAB will see you spending last month’s money rather than that which you’ve just earned. If you get off track, YNAB will tell what’s need to do to get back to where you need to be.


Mvelopes - One time-honored technique is the envelope budgeting system: split funds, as they arrive, into various envelopes marked for specific purposes, never dipping into an envelope to spend cash on anything other than its designated use. Mvelopes is a way to put a representation of your sectioned-off income. Designate an envelope for working capital or savings and you can grow your personal wealth or business funds surprisingly quickly. Anything you don’t spend in an envelope stays there, giving you more to play with in your next pay cycle.

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Top 10 Best Personal Finance Websites

Managing your personal finance like a pro is important for paying bills, creating savings, gaining wealth, and savoring the long and comfortable retirement. Banks may provide professional handling of your finances; however, in this age of the Internet, you now have the freedom to choose from various types of resources in seeking to increase financial knowledge without shelling out funds.
Here are 10 highly reliable personal finance websites offering resources and information to help you attain your goals, from spending and investing funds:
1. – Banking Sense has a unique way of presenting valuable financial news, tips, and advice without using highly technical jargon or phrasing that’s difficult to understand. Covering topics such as credit cards, insurance, small-business finance, personal finance, taxes, and more.
2. - Featured on top media websites like The Wall Street Journal, The New York Times, Yahoo! Finance, MSN Money, and more, Cash Money Life stands out as a reliable source of advice on personal finance and small business set up in a typical blog format without all the bells and whistles that make other sites so confusing, for clearer info.
3. – The only government-operated website on the list, offers its own unique spin on personal finance. It has information about earning, borrowing, saving, investing, spending, and protecting your money.
4. – If you’re really into personal interaction and online communities, and for people who loves credit. It provides posters of tips and tricks for acquiring cards.
5: – This blog gives information, resources, and tips on how to make, donate, save, and spend money in fiscally smart ways. People who regularly read Dough Roller are intensely loyal because they appreciate the broad variety of content.
6. – It is an extremely popular personal finance community that includes bloggers and experts in its membership. The most popular areas of the site are the “Personal Finance” and “Frugal Living” sections. It also offers a “Life Hacks” area that covers everything from technology tips to managing an organization.
7. – The site’s goal is to assist the military community in becoming fiscally smart and informed about the variety of benefits and programs available to it. Financial topics such as investing, insurance, and retirement are covered in detail, military discounts and post-military money management.
8. – Kiplinger gives you solid and accurate business forecasts. It’s seen as a trusted thought leader. One of the greatest benefits of Kiplinger is the variety of content available to the visitor.
9. – Bankrate supplies plenty of information on bank rates, mortgages, and credit cards, but it’s also a source of personal finance advice in such areas as financial planning, retirement, and investments.
10. – Readers will appreciate this site for its honest and unassuming approach. Started by an average guy, this blog provides an unbiased and simplified look at financial product reviews, credit card deals, and other finance blogs.

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