New Millenial Money Column

Though baby boomers are interested in retirement advice, millenials are more elusive. Still, editor Mark Solheim is trying to reach millenials with a new column in his magazine - Millenial Money. He hopes the column, written by millenials, will provide sound financial advice to young people (many affected by the 2008 recession). To prepare for the launch of the column, Solheim asked millenials about their biggest financial concerns. Many named social security, student debt, and affording the lifestyle of their parents. This column will give advice on these and many other millenial money … [Read more...]

Your Bankrupcy Options

There are 2 types of bankrupcies that one can file: Chapter 7 and Chapter 13. Chapter 7 might be filed by inddividuals while Chapter 13 might be filed by a company.When it comes to filing bankrupcy it is important to note that it might take months to file and that it can be also very costly. Student debt and back taxes are not dischargable for indiciduals, while corporations might only be able to request the change of the term of the debt.It is not an easy way out. In fact some suggest that if the outstanding debt can be paid off wihin 3 - 5 years it might not be worth it … [Read more...]

The Naked Truth About College Finances

The fact is that most college students are not well-educated when it comes to personal finances. Here are some skills you should learn early to keep your finances in good shape.Learn to budget. Use a financial tool like PersonalCapital or Mint to keep track of your money. Set budget goals, and stick to them. Resist non-budget items.Avoid debt. Use credit cards with great caution. Pay off debt monthly. These habits will be important to build up a good credit score, now and in the future.Minimize expenses. Buy cheap. Eat cheap. Have fun cheap. Don’t own a car. Live within your means. Have something left over at the end of the … [Read more...]

Start 2018 right financially

2018 needs to be your year and the best way to start this year is by taking care of your money. A budget doesn't need to be complicated to be effective. Start small and plan out the next three months. It's a good way to get an idea of your own inflow and outflow and gives you an achievable goal for the near future. Once you know your money, figure out how to get more. A side hustle, or job is perfect for this. Just go small and make $1000 for the year and then see how to save it. Those savings will pay you off in the long run and take care of you just in … [Read more...]

Financial Guru Ramsey Misses Mark on Credit

Although Dave Ramsey is a noted financial guru and has become very popular due to his seemingly sensible advice, his thoughts on credit card usage and credit score are wrong. His advice ignores that you need a credit rating to rent an apartment or buy a home. He also makes the unfounded assumption that debit cards are less risky than credit cards, even though credit cards carry more fraud protection and can offer small benefits on ordinary purchases. ​ … [Read more...]

Is Bit Coin a Bit Profit?

Bit coin the most recent investment trend. BC probably gets more ink than any other investment entity.No doubt somebody is making money by trading it. As usual the buzz is "buyer beware".Diversification is never wrong so working the markets with discretion and patience will keep investors out of trouble and more than likely an acceptable gain. Bit coin is fine just don't be misguided by all of the investment hype.Warning: It's very speculative! ​ … [Read more...]

Property inheritance by some millennials expected to increase wealth gap

The children of baby boomers will see increased wealth later in life by inheriting expensive homes owned by their parents. Expected to peak in 2035, the trend is said to promise a higher standard of living for some millennials and an increase in inheritance tax collections. However, not all will benefit equally. Those younger generation individuals who own property themselves are significantly more likely to inherit property. Statistically, those who aren’t property owners aren’t as likely to have parents who own a home. The result will be a widening gap in wealth that is causing concern among … [Read more...]

Are extended warranties worth it – this may change your mind

A question constantly asked is if it's worthwhile to purchase an extended warranty. Quite simply, the answer is no. The profit margin of warranties should be the first red flag. Secondly, you may be getting duplicate coverage (standard warranty). Thirdly, products are designed to last beyond the warranty period, but not much further. Repairs also have the potential to be cheaper than the service plan. And finally, you may have coverage elsewhere, like with the credit card you purchased the product with. So, yes, in the rare occasion that none of those apply to you, a service plan may help. Otherwise, you're gambling on … [Read more...]

What is Bitcoin?

Bitcoin is a computer code that is used as a currency. There are a limited number of bitcoins that are created by computer programs running mining operations. This limited supply supposedly creates scarcity and value. If however, there is no electricity, you will not be able to access your bitcoin. There are many different derivatives of bitcoin that have been introduced. These derivatives are not actually bitcoin.The most important technology behind bitcoin is the blockchain, this is the ledger that handles all the transactions. Blockchain technology will lower costs related to the movement of money and eliminate … [Read more...]

How Can I Print My Own Checks?

One of the most common reasons why the question "how can i print my own checks?" arises is because not all checking account holders use the same amount of bank checks. Those who use them sparingly definitely would want to save some money by being able to print their own checks rather than be forced to order a whole bunch. The important thing to consider is that it is done correctly to ensure that savings not only in time, but with money as well are preserved. When planning to print your own checks, follow these simple steps. Decide on the appropriate size and material. The initial consideration on addressing the … [Read more...]