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!
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