6 Ways to Practice Efficient Money Management

Getting organized in the home is the first step in dealing with personal finances. This means setting up a desk or dedicated space for the time you'll be spending with household taxes, bills, banking and investments. Keep the paperwork separated in files and stored in a safe place away from traffic and bustle -- a small filing cabinet or even a sturdy banker's box will work. For stuff that you... Continue reading

Taking Financial Inventory: Examining Your Spending Habits

Understanding how and where you spend your money is a big step toward hitting your financial goals. Even if you do not fall victim to the problem of having "month left at the end of the money," you may not be mindfully spending or saving your income in ways that reflect what you really want. An analysis of your spending habits can result in a low-maintenance and achievable way to watch your... Continue reading

How To Quit Your Job, Travel the World, And Not Go Broke

Have you ever had a quarter-life crisis? Olivia, a 28-year-old former marketing executive for a Portland, Ore. sporting goods e-commerce company did. She quit her job in Feb. of 2008, two months after earning her MBA from Portland State, and set off to travel the world. Four continents and one year later, she still has nine months of savings in the bank. “I've always been a saver,” says... Continue reading

Three Simple Steps to Financial Security

Before being put together, jigsaw puzzle pieces don't mean much. They're nothing but a blur of color and befuddling shapes. But organize them properly, keep your eye on the big picture, and you can fit them together to create something amazing. Financial planning works the same way as puzzles. When you're first starting out, you probably have a smattering of financial pieces:  a bit of savings... Continue reading

Contingency Planning & Budgeting

No budget is complete without a plan to deal with the unexpected, which means you need to build up an emergency fund. It may take a little bit of discipline while you're in savings mode, but the relief you experience from knowing that you have the financial means to handle whatever life throws at you -- whether the loss of a job or unexpected car repairs -- is priceless. Prepare for the Worst... Continue reading

3 Steps to Financial Planning for Long-Term Goals

3 Steps to Financial Planning for Long-Term Goals Planning for the long term allows you to hit big financial goals by turning the journey into a step-by-step process. Setting your financial benchmarks may seem obvious, but determining your wants is the first step to achieving your goals. As Mike Mills, a Certified Financial Planner and Chartered Life Underwriter notes, "Discussing, reviewing and... Continue reading

Five Celebrity Money Fails

Celebrities may dictate fashion and style, but they’re no arbiters of personal finance, at least not in my book. If there’s one thing about money that celebrities have taught us, it’s that you can just as easily burn through 10 bucks as you can several million when you don’t stop to embrace the basic rules of money. You know the plain vanilla stuff like: saving, budgeting, planning and protecting... Continue reading

Financial Planning: Build a Bright Future

Robert Goldberg doesn't have many money worries. He's single, earns $62,000 a year as a health care consultant and has few monthly bills. Still, he says, he "continually struggles" with budgeting. "I'm a consumer and I like nice things." Goldberg, 30, travels, plays golf (and the saxophone), collects watches, enjoys the nightlife in downtown Philadelphia, Pennsylvania, where he lives, and hopes... Continue reading

How Financial Management Is Crucial for Budgeting Success

Whether you like to admit it or not, money plays a significant part in many of life's daily activities. When you have systems in place to manage your finances, whether that's using cash envelopes, recording your spending each time you make a purchase, or using automated software, having a plan makes it easier to monitor your budget -- and stick to it. Much of what we do in a given day revolves... Continue reading

Top 7 Myths About Personal Finance Management

Top 7 Myths About Personal Finance Management Whether the market is humming along or dropping like a rock, you still have to make personal financial decisions about saving, investing, borrowing and your everyday living expenses. With all the misinformation, self-proclaimed financial gurus and myths in the marketplace, no one can blame you for being confused about how to manage your money. We'll... Continue reading