Thomas Carlyle, historian and writer during the Victorian Era, once wrote, “There are but two ways of paying debt: increase of industry in raising income, increase of thrift in laying out.”  One of the contributors of the worsening worldwide economic slowdown is the bad debts from credit cards.  Millions of dollars have sunk into credit card debts since many people relied on the plastic to purchase things—from a six-pack of soda to an LCD television.  Instead of taking out a fast cash loan, which is more financially manageable in the long run, for important purchases or financial emergencies, people tend to max out their credit cards and go into debt.
Read the rest of this entry »

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

As published in the Naperville Sun August 23, 2009

By TOM McGEE

Parents typically send their children off to college supplied with mini-refrigerators, linens and cleaning products, but often they don’t think about educating their children about finances.

One of the best ways for a student to understand how to handle money wisely and develop a sense of financial responsibility is to develop a balanced budget.

Does your student understand how much money they have available to make it through the school year? Have they broken that down into a monthly or weekly spending plan? Have they broken their expenses down into needs versus wants?
Read the rest of this entry »

Time Management Tips

Time is the most precious value we have. Time is the greatest equalizer of human beings. If we don’t ant to admit his and to treat time with respect then we will only have to lose. It doesn’t matter if you are rich or poor, healthy or sick, you will only have 24 hours a day either way, and you should try to use them wisely.
Read the rest of this entry »

The world is an expensive place. I don’t think many people would dispute this claim. We all struggle with monthly bills, being in debt and other daily expenses. It is part of the world we live in. That’s why creating a personal budget is so important.
Read the rest of this entry »

To get your personal finances in order, you need a definite plan of action which begins with getting organized and staying on-track. The goal is to achieve a credit score of 750 points and higher. 750 is the minimum score you will need to have some of the finer things in life so organizing your financial life is critical if you want to boost your credit score.1. Locate and organize your paperwork.
Read the rest of this entry »

When to File

In this economy, more and more people are finding that their incomes are no longer enough to take care of their monthly expenses. We hear news of hundreds of companies laying off workers every week.. and this doesn’t take into account the workers who are “encouraged” to resign from their jobs so that employers don’t have to pay unemployment benefits. If you’ve lost your job, taken a pay cut, or been forced to reduce your hours on the job, there’s a good chance that your credit is suffering.
Read the rest of this entry »

Back To School Budgeting

 
Back-to-school time is just a few weeks away. Finally children can stop complaining about being bored at home, and parents can breathe a sigh of relief for the needed break. However, this time can also bring financial challenges for many parents who are faced with rising costs and shrinking budgets.What can parents to do when the prices of everyday necessities are climbing out of reach, their paycheques remain constant, and their kids keep demanding the latest, coolest stuff to go back to school? If you are faced with this dilemma, take at look at the following money-saving tips:
Read the rest of this entry »

The financial crisis has prompted people to save in any way they can and if you’re one of those people who are currently feeling the pinch, you might want to try out coupons as a way of cutting down on your bills. Coupons are offered by most retailers and are available year-round.

Coupon Strategies

You can avail of coupons through magazines and newspapers and if you combine these, you can shave off hundreds of pounds from your bills. Some establishments send coupons and discount vouchers through the mail. You can also make use of the coupons that you find in in-store magazines although these are acceptable only in that particular store.
Read the rest of this entry »

Saving Money on Groceries

One of the best tips for saving money on groceries is to buy name brand products. If you don’t believe me, you’re not alone! (But trust me, it is true! Keep reading to find out why!)

When it comes to saving money on groceries, people often argue that you should simply purchase generic, store brand products since name brand products are always higher priced.
Read the rest of this entry »

Mutual Funds

Serious mutual fund investors must always be alert for consistently credible sources of unbiased information relative to mutual funds. While you may already be aware of or familiar with one or more of these “10 Best” sources, you may find others that can be equally helpful and informative in your quest for financial independence. Here’s the complete list, but you’ll have to do a search using the listed title to find the URLs for each site, which will get you to where you want to be.
Read the rest of this entry »