Posts Tagged ‘personal finance’

Online Money Management Websites

Wednesday, February 24th, 2010

In & Out Cash Management System

Once you set financial goals for yourself, how do you know you are moving towards reaching those goals?  For example, you if set a goal to save $300 per month, how do you know you have done it?  Not only that, how do you know you are spending the money you are trying to save?

I think a lot of people do not like to face their financial situation, that is why they do not set goals, or they tend to shy away from tracking their progress, or lack thereof.  However, this is the beauty of online banking.  You can easily take care of nearly all of you financial obligations at the click of a button.  However, if you have multiple accounts with multiple banks, it can still be misleading in terms of your complete financial picture.  This is why I created the In & Out Cash Management System.

This online software allows me to see my complete financial picture in place, it rates how well I am doing in terms of meeting my financial goals, and it gives me coaching to help me get there.  There is nothing more convenient in terms of tracking my financial progress.  Managing money doesn’t have to be so hard and burdensome anymore.  The only thing I need to do is make sure I am disciplined with my money management, which requires commitment, consistency and control.  If I do this, as I track my progress, I will see that I am well on my way to attaining financial freedom.  (more…)

Credit CARD Act Take Effect Today—Use them to Your Benefit

Sunday, February 21st, 2010

Eliminate your credit card debt but make sure you understand the new Credit CARD Act that takes effect February 22nd—Use it to your benefit…

Obama Signs Credit Card Act

The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) takes effect February 22, 2010.  This act establishes new rules for credit card issuers, and is designed to protect the consumer. But do these new rules really benefit all consumers?  Or just the ones that are savvy about the loopholes and caveats credit card issuers can take around these rules?  Take a look at just some of the changes, and their loopholes:

Interest Rates and Fees

·     No rate increases for the first 12 months after opening an account.

However, rate hikes are allowed if you’re more than 60 days late with a payment.

·     No more over-limit fees, unless the card holder opts in.

Credit card companies have been contacting card holders asking them to opt in for over limit fees in exchange for lowering that fee.  What card holders aren’t being told is that there is no longer a fee for going over your limit, the charge will just be declined.

Statements and Notifications

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Housing Market is Going Back Up Again?

Tuesday, January 12th, 2010

Falling Home PricesDon’t be fooled by positive statistics and sayings such as, “there’s nowhere to go but up” just because the market has been so bad. It’s true that once the bottom is hit there’s nowhere else to go but up, but we need to remember how we got there to ensure we don’t land there again. It’s up to us to keep in mind that at the core of many of the market’s tragedies was us as individuals not managing our money responsibly and not living within our true means and, as a result, we must ensure that the same mistakes are not repeated. (more…)

60% Living Paycheck to Paycheck

Tuesday, January 12th, 2010

It’s interesting that over half of America is living paycheck to paycheck.  I read a pretty good write-up on articlebase that talked about this in depth.  We’re going to dive into some coaching pointers we all can use…

The most fundamental pathway to wealth is still having more money coming in than is required to go out in order for you to survive and to feel secure about yourself. Our expenses are normally made up of the things that we must spend money on to survive and the things that we purchase to feel better and more secure about ourselves–as a result both of these must be managed very closely.

What you need to spend to survive is usually directly related to the obligations you make surrounding where you live, what you drive and which service providers you choose to use. (more…)

Inconvenient Truth on Cash Versus Credit

Tuesday, January 12th, 2010

Cut Credit CardsWhat is cash management?  Cash defines your true ability to meet your needs and your wants in life.  Cash available to us describes the reality of what we can plan to do today and in the future.  Cash is not a projection or an assumption; instead, it provides truth about where you really are.  Financial success is found in the ability to measure how much cash you keep or invest in being able to keep.  What came in and what went out, that is the question?

  • Cash Inflow: Money that came in (Credit)
  • Cash Outflow: Money that went out (Debit)

How will you maximize your opportunities for Cash to come in?   (more…)