 With the economy the way it is and many primary providers having their salaries cut, some couples are seeking second and even third incomes to help make ends meet. But what if that second job isn’t really worth it? Families that take a closer look at their true tax burden as a W-2 employee are realizing that having both spouses work outside the home is actually costing the family money.
This is illustrated in Jane
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Most people get a sick feeling when they hear the word “budgeting.”
That’s because most money budgeting programs make people feel
restricted and tied down. That's why I don't advise my clients to
create a budget, I have them use a system of forecasting, tracking, and
comparing instead.
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I have found, from over 35 years of financial coaching , that one of the
most important concepts a person needs to grasp when it comes to
getting their debt under control is that time has a monetary value
attached to it. Holding money accountable over a period of time to keep
score on what it has (and has not) accomplished is called the
“Time/Value of Money.”
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What happens when you let interest expense silently multiply? I like
to ask my clients this question and see what they come up with. When
they find out the real answers they are always stunned, even when they
expect a pretty bad outcome.
Okay, here's the situation:
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Okay, this isn't necessarily new, but one of my clients sent this to me
and I wanted to pass it on. This just reiterates the importance of
practicing Money Mastery Principle 5: KNOW THE RULES!!!!!
It has been verified by Snopes.com
This one is pretty slick since they provide YOU with all the information, except the one piece they want.
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Everyone knows that it’s important to save, but what I have found over
years of coaching people on how to manage their personal finances is
that few really know how.
Here are 3 ways to look at saving that may be a little different from what you’ve been taught (or not):
1. There’s no such thing as savings. What? Are you kidding? Nope. The idea that we should put money away and then never touch it again is absurd.
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 I saw this little excerpt on taxes (author unknown) and wanted to share it:
The
next time you hear a politician use the word “billion” in a casual
manner, think about whether you want politicians spending YOUR tax
money.
A billion is a difficult number to comprehend, but here’s something that will help you put that figure into some perspective:
• A billion seconds ago it was 1974.
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