Want to learn 4 ways to become financially empowered? One of life’s great mysteries is the fact that few of us are taught what we need to know about money and personal finance in order to feel secure. Our parents weren’t taught so they couldn’t teach us. We’re not taught and therefore, cannot educate our children. And, our children will probably repeat this cycle unless we do something differently.Details
Applying for student loans? Worried about your credit score? Here are 5 steps you can take today to improve your credit score.
At this time of year, many parents start scratching their heads and turn to their keyboards to search for answers to their pressing financial questions. Parents, reeling from the sticker shock caused by their son or daughter’s college acceptance and award letter are trying to figure out how to pay for college. Students are asking questions about credit, many for the first time. Want to guess the financial question Google gets asked the most? It is “how do student loans work?” No wonder. According to a recent Marketwatch article, Americans are trying to figure out how to deal with $1.4 trillion in student loan debt. A study conducted by Liberty Bank for Savings found Google gets an average of 2.4 million searches per month from folks looking for the answer to this question.
3 Tips To Picking The Right College
To all you high school seniors with a stack of college acceptance letters – congratulations! Today is the big day – decision day! Here are 3 tips to picking the right college.
My First Choice Didn’t Accept Me
Trust that things happen for a reason. What made your first choice your first choice? Are all your friends going there? Is it a top-tier university? Is it the location? Sometimes the reason a college ranks first in your mind might not be the best reason. Remember, the purpose of picking the right college is to get an education and training that leads to a career path. Carefully review the other schools that said “welcome, we want YOU!” Which ones have a curriculum that has a close match to your career goals? Next, look at the demographics (location, size). Finally, the overall “vibe” you picked up when you toured the campus. Education is attained by a combination of effort and opportunity.
How Do I Pay For College
Ah, the money question! This is as good a time as any to sit down with the folks financially responsible for you and find out who is paying for what. You need to know if a college budget has been determined and how much of it will be borrowed, and how much is available in cash. Studies have shown most American families say they cannot afford the cost of college. According to a recentDetails
3 Things You Need To Know If You Inherit A Windfall
Want To Be A Millionaire? Of course, who doesn’t, right?
Recently a young 30 something brought an interesting situation to my attention. She learned she will be inheriting a significant amount of money, in the several million dollar range. Her first reaction was “Whee!! I can travel the world!” Fortunately, someone much wiser recommended having a conversation with me before she goes off the rails and takes all the money with her.
I was happy to see her asking questions before she received the inheritance. Here are the top 3 tips I gave her about what to do once she becomes a millionaire. I thought I would share them here in case you or someone you know is as fortunate.
1) Establish a Trust to hold your assets. Give serious thought to how you spend money. Try to maintain the discipline of retaining your current lifestyle. Consider your current budget. If possible, work with a trustworthy investment professional that will construct a portfolio where you earn dividends that cover your lifestyle expenses. This way, you won’t be depleting principal. The person that created the estate you inherited probably followed a similar conservative philosophy.Details