Tips on Managing Money

Tips on Managing Money... As the name implies is a web site devoted to giving tips on money management, budgeting, saving money, loans, insurance, financial (retirement) planning, investments, making money, entrepreneurship, wealth building and much more! 

And unlike most financial web sites, tips on managing money provides alternative solutions to the traditional financial investment concepts.  For example:

Traditional financial planning consultants recommend stocks, bonds, mutual funds and annuities.  

But with the ongoing financial crisis in the U.S. and the continued volatility in the stock market, the risk of losing your hard earned money has intensified even more.  

The other problem with these traditional investment models is that you are putting your hard earned money in the hands of other people!  

You are depending on financial advisors, stock brokers... so on and so forth. 

Tips on managing money is about investing in yourself !  Investing in yourself and not your stock broker or insurance company.  Financial planning that is about investing in your own success. 

Here are some of today's concerns in the year 2010 and beyond: 

• According to the Federal Reserve, consumer debt stands at $2.5 trillion in the United States.  
• Health care costs are growing more than two times faster than wages.  Rising costs are also making it harder for small businesses to offer health coverage to their employees - Statistics from the U.S. Government. 
• The cost of college has risen faster than consumer prices and median family incomes.  The average cost of in-state tuition and fees at public colleges has jumped 35% in the past five years - Sources: College board and USA TODAY. 
• According to a survey conducted by Scottrade, an online investment firm, the majority of Americans are unprepared for retirement.  The No. 1 financial concern among Americans polled in the survey was retirement.  Adults 34 and under generally had more financial concerns than older respondents. These concerns include; not having enough money for retirement, paying for unexpected major expenses and having too much debt! 

Here are some of your options: 

• Try to get your employer to raise your salary.  What are the odds of that happening. 
• Go out and get a second job or third job.  How would this affect your health and overall wellness? 
• Win the lottery?  Good luck! 
• Inheritance from your parents and or relatives.  Only if your fortunate enough. 
• Risky investments such as the stock market?  Do you really trust financial advisors and or stock brokers managing your hard earned money? 
• Start a traditional brick and mortar business?  Are you willing to take your chances and risk losing tens of thousands of dollars?  Here are  some examples of what you will need to invest in; leasing a building or office space, inventory, employees, equipment, supplies... 

The sad truth is that for many people playing the lottery is the solution to solving their many financial problems!  

Many working class people spend their whole life buying lottery tickets, hoping and praying their luck will change.  Unfortunately this is the reality and mind set of many people.  This is very sadly their financial plan.  But, this is only one of the many reasons people fail financially. 

 Tips on Managing Money 

So what should be done to change this mind set that ultimately leads to financial problems?  

Well, the first thing that needs to be done is that instead of spending your whole life dreaming, praying and hoping financial luck will come your way either through inheritance or playing the lottery, you need to go out and "create your own luck". 

You need to take action and create a financial plan. You need to have an exit strategy. 

Instead of spending your whole life living helplessly, letting other people control you (like credit card companies) you need to create a plan that will put you in control, instead of other people controlling you.  

Our goal here at tips on managing money is for YOU to not only take back control of your finances...  But to ultimately take back control of your life!