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Personal Finances | Planning

Plan Your Financial Future Now

The best way to prepare for your financial future is to have a budget that you can follow and adjust as you work through each month. There are many doable ways to put together a budget, but all entail gathering the best information you can from your past financial records.

Using Past Expense to Predict Future Expenses

Both checking accounts and credit card records provide a good place to start. For most families, housing expense is the largest and most important expenditure. These expenses include mortgage or rent, utilities, taxes, insurance, and maintenance.

Mar 28, 2018
Money 101 For Millennials: Seven Tips For Improving Your Financial Literacy
Forbes Finance Council
1. Take online courses.
Given millennials' propensity for technology, I would suggest they take a few courses in basic economics, accounting and capital markets from the likes of Coursera, Udemy or similar providers. The courses are affordable, well delivered and even fun. In my opinion, they constitute the most efficient way to get updated on whatever topics you are interested in, including finance. - Gabriel Grego, Quintessential Capital

2. List out your expenses.

Millennials are quite bright; they simply don't have the experience. Right away, I recommend they make a list of everything they spend money on each month. Enlist their parents in this endeavor if possible. After the amounts are added up, they should ask themselves this question: How do I pay for all of this? This is the first step to improving financial literacy. - Amir Eyal, Mylestone Plans LLC More info...

Mar 28, 2018
The 5 Ways Retirement Plans Are Most Likely To Go Off Track
Bob Carlson ,
The retirement stories I most hate to hear are about people who entered retirement financially secure but saw that security disappear over the years.

These stories are all too common, and so are the causes of most retirement failures. Usually, investment market declines are not the cause. Ensure your retirement is successful by being aware of the most frequent causes of adverse retirement turnarounds and planning to avoid them. These are the five most common reasons Iíve identified that cause retirement plans to go off track. More info...

Mar 28, 2018
How Grads Can Get Another Shot at Student Loan Forgiveness
How Grads Can Get Another Shot at Student Loan Forgiveness
The Trump administration is giving student loan borrowers who missed out on public service loan forgiveness a second chance, and they should move now to prepare.

The recently passed $1.3 trillion federal spending plan sets aside $350 million to forgive student debts owed by borrowers who met all the conditions needed to qualify for the Public Service Loan Forgiveness program, but were mistakenly enrolled in the wrong repayment plan.

Borrowers in PSLF must make 120 qualifying payments to get forgiveness on the remaining balance. More info...

Mar 27, 2018
Why Successful Investors Create A Financial Plan
Adam Sarhan
Don't Fly Blind:
Would you build a house without a blueprint? Would you trust a pilot or a doctor that is going to fly blind without a plan? No. But in today's world, anyone with a heartbeat and a few dollars in their pocket can open an online brokerage account and start trading stocks. In fact, all throughout history, it has never been easier, or cheaper, for people, anywhere in the world, to trade stocks. So, most people dive in without taking the time to study the market or create a well thought out financial plan. The result is most people really do not understand what they are doing and unfortunately end up losing money. More info...

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