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 2009 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!
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