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Personal Finance

A Step-by-Step Guide to Create Your Personal Finance Statement

 To get your personal finances right, you must list goals with a personal finance statement. There are many ways to create your personal finance statement.  But first, you should be familiar with, Personal Finance Literacy and Personal Finance Planning.

You can accomplish this by using the following: Personal Finance News, Personal Finance Articles, and Personal Finance Courses from investing to home buying.

Then, include the following tools on a regular basis; A Personal Finance Book, Personal Finance Spreadsheet, Personal Finance Reddit, and of course, understand Personal Finance Management.

If you can master this knowledge; your personal finances will soar. Your personal finance statement will be created after you finish all the following personal finance tips listed below.

A step by step guide to create your personal finance statement

Step #1 –
Obtaining Personal Finance Literacy

Personal finance literacy includes learning and understanding various fields of personal finance. You must have personal finance literacy to create great finances in your life. I was attending a woman’s conference once and a surprising thing happened.

A young woman saw my name tag, I was to speak on personal finance to this group of businesswomen, including her. She came up to me and said, “what – is – personal – finance”.

I am not going to lie, I was a little shocked that an educated, intelligent businesswomen would ask me this question. I politely said, “your personal finances”. I am not sure that she understood, but she said, “oh”.

I knew she would understand after I spoke at the conference. But she is not alone, many intelligent people do not understand that their personal finance literacy is at the core of their financial success or failure.

Step #2 –
Your Personal Finance Planning

Nothing great happens like magic, including personal finance planning. You must plan what you do and do what you plan.

That applies to personal finance planning, as well as anything else that brings success.

Personal finance planning does not include you turning your financial decisions over to someone else. You must know what you need and what you want to do with your personal finances first, both short and long term.

Otherwise, you may be steered in the wrong direction by others who do not understand your short-term or long-term needs, as well as most of your financial details.

Step #3 –
Use Personal Finance News

Understanding personal finance news is important because it helps to know what is trending in finance. An example, if home prices are starting to drop and you must move for a new job, it may be time to sell sooner rather than later. This will assure you will get the top value you deserve before prices drop.

Or, if finance news repeatedly talks of a recession and home prices are falling rapidly, it may not be time to buy a home. The best decision may be to wait until the foreclosures stop and the prices settle out.

An example of a local recession is if a large company closes in town and many of the workers cannot make their mortgage payment.

Personal finance news is particularly important because it helps you to stay in the know and not make major and costly financial mistakes.

Because you know the status quo of important current issues, you avoid mistakes.

Step #4 –
Read Personal Finance Articles

Studying Personal finance articles are another way to keep up with personal finance news. There are several personal finance articles that explain various topics about personal finance.

You can search and read articles on home buying, car buying, stocks, mutual funds, saving money, budgeting, and more.

Of course, there are a wide variety of personal finance articles here at MsFinancialSavvy Blog. They are added and updated on a regular basis.

Step #5 –
Take Personal Finance Courses

Taking quality Personal finance courses is a great way to learn the most important facts of personal finance and achieve personal finance literacy. There are many great personal finance courses, that will give you a wide array of knowledge.

I specialize in personal finance courses and encourage you to at least start with a home buying or car buying course to save money and buy value.

You can literally save thousands of dollars when you buy a home or car the right way. Many people complain that they have no money after buying a home or car. The reason: “They over-bought on one or both accounts”.

There is a right way and wrong way to buy a car and a home. No broker is going to tell you the right way, they are ONLY interested in the sell. The faster the better, then they are off to the next person.

This holds true with stocks, bonds, mutual funds, home buying, car buying and other investments as well.

Step #6 –
The Personal Finance Book

I started teaching personal finance with my award-winning personal finance book. I will not discuss the book now, but I will tell you that I have 8 new personal finance books. Those books are important because I do what others fail to do in a lot of personal finance books.

I tell you what most typical personal finance problems are and how to solve the problems successfully. I give you several options for example, to learn mutual funds and stocks or understand home buying and car buying with several details.

The most important detail I give you is how to save money and how to make money over time in each process.

A personal finance statement using a peraonal finance book, personal finance courses and personal finance reddit forum

Step #7 – Using a Personal Finance Spreadsheet

A personal finance spreadsheet will enable you to put hundreds of details in one place. The personal finance spreadsheet will allow you to track everything you need to grow your finances, understand your personal finances and be consistent with your finances.

You can track bill payoff, bills you need and do not need, and what to do to create an environment to make your finances soar.

You can increase your credit score, track your home buying and car buying as well as other personal finances. Your personal finance spreadsheet will allow you to see if you are failing or if you are on track for success.

You can use personal finance calculators to create your personal finance spreadsheets also.

Step #8 – Why Personal Finance Reddit?

Let us start with personal finance reddit. There are many ways to expose yourself to various types of personal finance information. One, is the variety of opinions on personal finance reddit.

Some of the users are very fluent in personal finance and some are amateurs, but the exposure will enable you to understand the core of personal finance.

Personal finance reddit is a type of personal finance news, not always accurate, but it does give you an idea of what is trending in personal finance. Before you go there start with our personal finance blog.

Finally, Personal Finance Management

In conclusion, you now see that personal finance management can be done by you and is best done by you. When you engage in personal finance articles, reading personal finance news, and finding your favorite personal finance book.

Personal finance planning is the key, and you can do it yourself when you take courses and obtain keen personal finance literacy.  You will learn to track your finances with personal finance spreadsheets.

Personal finance reddit is one of many examples of a type of forum you can use to get additional news about personal finance.

When you finish with this personal finance guide you will be able to create a short-term and long-term personal finance statement that will take you years into the future.

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A step by step personal finance guide to create a personal finance statement, by doing personal finance planning and personal finance literacy

5 Ways to Become Rich Using These Good Habits

 

Become Rich With Good, Honest, Hard Work to Start

Become rich, seems impossible. But when you consider the real definition, it is possible. Become Rich is defined as the process of having all that you need and much of what you don’t. The needs include all bills paid monthly, money in the bank, investments, 401k, low-debt, and understanding finance. All of these will put you on the road to become rich.

A surprising number of people don’t have most of what they need, and many who do, have very little excess after bills are paid. To Become Rich understand it begins with hard work and ends with saving money.

Most folks will swear they work hard, including young folks. But, when questioned about tactics common to successful people they fail.

They don’t research the best jobs or work enough hours to get promoted. They are not constantly improving themselves with training and education, they admit to being negligent.

Become rich with personal finance tips, saving money and investing right

The earlier you start working hard, the more likely you are to achieve financial success and end up with a job you like.

Also, you will have more time to save and accomplish your long-term goals when it comes to paying bills, general savings, and retirement savings.

Work hard when you are young since you have better health and more energy, and time to accomplish life-long goals.


Don’t Over Invest in Education

In today’s educational climate, you can spend $10,000 on college living at home with no student loan debt, or $200,000 going away to college. Going away could leave you with huge student loan balances. You can get the same degree and job with a $200,000 student loan debt as a $10,000 student loan debt.

If you have rich parents who don’t mind paying the larger bill that is fine. But, to take out student loans on the larger college cost makes no financial sense at all.

When you add the emotional toll it will take when you try to pay down huge student loan debt for the next 25 years.

Student Loan Debt

Those large student loan payments are amortized like a mortgage, which makes it even harder since the loan is paid over such a long period of time.

Do your research, know the total cost of all colleges you are considering. List several colleges you or your child is interested in and include the cost of tuition, books, room, and board, and then add 5% for hidden cost.

The more expensive the college is, the more student loan debt you will have to take out. Choose from affordable colleges. Financial aid only covers about 80% of costs for the poorest students, concentrates on scholarships, and family support.

How Many Degrees Are Necessary At Once

So no matter what your financial level, you will always need to come up with some out of pocket money. The exception is if you are covered by a full guaranteed scholarship, but these are rare.

Once you get a marketable degree, concentrate on getting a job after your training, instead of more degrees. Some people get multiple degrees, and therefore, deep in student loan debt.

Later you find out the first college degree was perfectly adequate. Many who make the mistake of choosing a college with too much student loan debt find they spend most of their time figuring out how to get student loan debt under control.

Personal Finance at MsFinancialSavvy - Your personal finances matter, get on the road now

Research Everything, Before You Take Personal Finance Tips

We were taught to do research in college, remember all of those late-night college research papers, but now many of you do what I call the anti-research. The anti-research is when you approach salespeople and ask them what you should buy. Don’t blindly take personal finance tips either.

Salespeople mysteriously suggest the most overstocked item on the shelf since they need to make room for new stock. The most overstocked item may be such, due to high returns or bad reviews also. This is the same with personal finance tips from online, unknown brokers, or friends. Get the facts before you do anything.

Personal Finance Research is Important

Do your research about everything, especially big-ticket items such as cars, homes, home building, mortgages, colleges, and investment companies. Use these personal finance tips to start your finance journey.

I mention investment companies because of Bernie Madoff of Madoff Investments. Madoff was not a registered Investment Advisor most of the time he was in business, but none of his victims checked his credentials at finra.org.

You can start your checking by calling the company you are interested in and asking a lot of questions. Try to get a list of 10 questions, then search government websites to find information on the industry or company in question.

Where to Find Information

Check independent consumer sites for reviews, and lastly, ask those who have used the company or services you are considering.

It is hard to get the truth about some companies because there is so much false information in circulation. But if you do your research you can reasonably be sure you will get most of the truth.

Some buyers make purchases based on a “free-gift seminar”, buying anything based on a free gift is what I call high-risk buying. I call it high-risk because it is usually something you don’t need and the gift is charged back to you with your purchase.

Some buyers even sign long term loan commitments based on a seminar gift and presentation, only to regret it later.


Live Below Your Means

This sounds like it is good old fashion common sense. But one of the biggest reasons for home foreclosures and personal bankruptcies is because many people believe it is ok to live above their means.

Living below your means you will have a much greater chance of keeping your home or car if you get laid off your job or pay decrease. It also means you will have money freed up to save for important things, such as home maintenance, car repairs, and vacations. Keep home foreclosures and personal bankruptcies at a distance before you have trouble with your job.


Make Savings A Bill

You know what happens when you get a bill, you do everything you can to pay that bill, no matter what. Some bills are on automatic deduct, which makes them really easy to pay since you don’t even have to write a check.

Do the same with savings, it is easy when you make “savings a bill”, making it an auto deduct bill. Savings should include; emergency savings, extra to retirement savings, college savings, and vacation savings.

A habit that makes us poor is, every time we need money for emergencies, we borrow the money by charging them on high-interest credit cards. The lowest credit card payment is amortized over a 20 year period. Making “savings a bill” makes saving money easy.

Sometimes it is necessary to use a credit card, like securing a hotel room, renting a car, or getting credit card points. Just keep it within an affordable range, and use them sparingly. Make more than the minimum payment to get the balance paid off quickly. Making savings a bill will increase your savings balance instead of a credit balance. 

When you have substantial savings based on monthly additions to a few accounts, emergency, basic needs, vacation, and retirement; you will see yourself on the road to become rich beyond your wildest dreams.

Summary

It is time to become uber conscious about your personal finance using the above personal tips. Understanding what it means to become rich, will enable you to grow your money the right way. You will put your savings on autopilot by making your savings a bill. Home foreclosures and personal bankruptcies will never become a threat. You will know how to keep student loan debt low, and you will have financial peace of mind.

5 ways to become rich when you understand student loan debt, personal bankruptcies, home foreclosures, how to make savings a bill and other financial tips.

Money Before Marriage-Until Credit Do Us Part, Part 2

Money before Marriage

 Money before marriage is an essential conversation everyone should have prior to marriage when you consider the divorce statistics associated with money before marriage

Financial surprises after marriage run the gamut from, “I assumed he owned his home”,  and, “I did not know he was deep in debt to his x-wife”. These are just two of hundreds of surprises newly married couples encounter.

The problems go both ways, there are men who are surprised that their new wife got married only to quit her well-paying job shortly after marrying. And there are women who are surprised to learn their new husband has been laid off his job and didn’t tell her.

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These are very serious issues, and they signal the fact that too many couples are taking money for granted before they marry.  Before getting married, couples should have more in common, than not.

Besides respect and understanding for each other, having good financial habits in common are important.  If not, after the honeymoon period is over, fights may ensue over the smallest money issues.

Marriage partners bring their bad money problems or good money habits to the marriage, so understanding what your partner’s money habits are before you marry is crucial.

Money quotes, Skills should not be predatory

Psychologists say the glue that holds marriages together is the number of things you have in common. The more you have in common the more likely you will stay in a happy long-term marriage. At the top of that list, is finances.

The more you have in common with great finances, the better your marriage will fare, financially. I have listed some of the financial habits you should have in common, that will foster a healthy marriage relationship, below.

The Financial Aspects You Should Have in Common Before Marriage,

Both of You Should:

  • Believe in living within a budget
  • Live within your means
  • Purchase products you can afford
  • Have supplemental savings accounts before you marry
  • Have good credit reports before you marry
  • Invest in a pension or other retirement account at work or personally
  • Be interested in buying an affordable home after marrying
  • Identify and alleviate poor money habits before you marry

Most couples are still in the admiration phase of their relationship before they marry, so they assume that all is to be admired on the financial front also.

But, unfortunately, just as the experts will tell you, people don’t change for marriage. It may take some time to understand that your spouse has poor money management skills, and in most cases, those habits were there before marriage.

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Home buying the right way take skill

How Do You Determine if Money Before Marriage is a Problem?

There are many ways to spot financially dysfunctional behavior in a potential spouse. You have to be willing to understand what a wasteful person does and be willing to look honestly at money with your fiance.

Some people don’t understand what financial problems look like and some are hidden. Your best bet is to look for signs of financial mismanagement. Here are many to consider:

1. Does he or she live in an apartment with no furniture? – sounds funny, but this could mean your partner is super frugal-paying off bills, unreasonably cheap, or can’t afford furniture because of financial mismanagement.

Even if it is second-hand furniture. The functional sign would be that he/or she is super frugal and waiting to buy furniture after some crucial bills are paid off.

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2. If he/or she makes a modest income, but owns an expensive car. The problem with an expensive car is that not only is the monthly payment painful, but the upkeep could consume most of a monthly paycheck. This is a very bad sign of financial dysfunction.

3. If he/or she lives in and owns a home that is too expensive for their income and assets.

4. That he/or she takes expensive vacations and their salary is modest.

5. That he/or she carries a large number of credit cards and pulls out a different one each time you go out.

6. The absolute must is to share your bill/credit history with each other. Excessive bills for his/or her income is a huge sign.

7. Your partner should be willing to pay down excessive bills before marriage.

8. If your partner can’t make a pack with you to keep debt low during your marriage, you may need to reconsider your choice and alleviate a lifetime of financial pain.

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How Money Before Marriage, Until Credit Do Us Part

Who Manages Your Personal Finances

Who manages your personal finances? Seems like a silly question, but if you ask many people they will tell you, “no one, my money doesn’t need managing”. “I just pay my bills and spend what I can”. I hear this quite often with those who make a lot of money and those who make a little money.

They are clueless about the fine tuning of their budget and creating finances that will create money that lasts. It is imperative that you
understand budgeting tips and investing tips that create financial
growth.

When I give meeting attendees just a few of my suggestions they are surprised at the information that will change their lives. They were surprised to find how hard it is to get the right information.

The following are three things you can do to improve your personal finances. This is part 2 in a four-part series I am writing this month on personal finance.

Budgeting tips, investing tips and save money;Money, Understand that it is complicated, budgeting counts


MANAGE YOUR OWN FINANCES

Managing your own personal finances is crucial. Why does that sound strange – most would say, of course, I manage my own finances? But, for many, that is not true. Wives let husbands manage all the family finances, and there are husbands that let wives handle all the family finances.

Then, there are elderly people who allow adult children to manage their finances. There are even people who allow complete and total strangers to manage their finances since they are convinced they are not capable.

You can and you should manage your own finances – get personal with your finances and stay that way. Married couples should manage their finances together, and everyone else I mention should stay close and manage their own finances – this is the core of personal finance.

If you don’t feel competent enough to manage your own finances, you should think seriously about finding the time or finding help learning how.

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YOU CAN GET YOURSELF OUT OF DEBT

I have heard of folks turning their money over to a small business that manages their money to get them out of debt. You can get yourself out of debt if you got yourself into debt. With budgeting tips from MsFinancialSavvy and understanding investing tips, you can monitor your own finances. You know far more about your finances than strangers will ever know.

It is ok to use someone to help you get out of debt but work with that person hands on. Don’t turn your money over to someone else to do it for you.

Not only should you not turn it over, but it is important that you stay close to the process so you can understand how to get out of debt and how to stay out of debt.

Once you have an awareness that you are at a level of debt you should not be in, start to think of what got you there and create ways to stay clear of returning to debt.


UNDERSTAND YOUR FINANCIAL HABITS

Managing your finances and getting out of debt begins with an understanding of your personal finance habits. Some habits are so automatic, it is as if some are spending money with their eyes closed.

They fail to understand the seriousness of their blind spending and the future implications.

You know you are engaged in blind spending when you ask yourself at the end of the month, where did my money go? Create your own budgeting tips, investing tips and create your own ability to save money. You will never be blind to your own finances.


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Make sure you watch my latest video here.

Who Manages Your Personal Finance - Here are 3 Ways to Manage Your Personal Finances with Budgeting tips, Investing Tips and Save Money

Personal Finances That Rock

To get personal finances that rock understand that there are many ways to achieve a given task. You only need to use one to be successful. The one that works of course.

I have used many ways in the past to create successful personal finances that rock, so I will attempt in this article to outline a few that have worked and will last.

The first thing you must understand is my definition of personal finances. In my opinion it is simply staying close to your finances. Understand everything possible detail, about every single financial decision you ever make. That begins with decisions about the smallest items to the largest.

Do personal finance research, ask people you know who have had to make those decisions. Many of them will tell you the mistakes they made so you won’t do the same.

I speak to people all the time who tell me they must consult with a salesperson about funding a retirement account. Then they ask salespersons about buying a home, which car loan to get, or if they should take out student loans.

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You should have the ability to answer the above questions yourself if you are involved in your personal finances, the right way.

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Do your research, talk to people close to you, get an idea of what is best for you, so at least you are in the ball park before you think about a purchase.

That way you will not let a sales person lead you a stray or someone else who is not qualified to tell you what to do.  You instead, will direct him or her. Here are three suggestions for developing personal finances that rock by organizing your finances and doing personal finance research.

1. PERSONAL FINANCES THAT ROCK ARE YOUR RESPONSIBILITY

Make up your mind that it is your responsibility to get personal with your finances. There is no one out there who will cherish and adore your finances as you will. If you are having a hard time making finances personal, you can use a series of techniques to make peace with your finances.

Many of you have heard messages over the years that you can’t manage your own finances. It must be either a spouse, parent, salesperson or other person. Not true.

The More You Know, The More You Grow,Your Money               ---Lois Center-Shabazz

You can change that way of thinking by changing the way you think. Use personal  affirmations, and visualization.

Just like any other positive thing you want to bring into your life, you can bring in the ability to manage your finances. By writing positive affirmations about managing your finances and visualizing yourself managing your finances from daily to monthly – you will be successful.

2. GET YOUR FINANCES ORGANIZED

Get organized like you’ve never organized before. Don’t be afraid to guerrilla organize your finances. Set up a system for bill paying, saving money, and paying down debt.

Then set up a system for spending money on things you need first and things you want second. If you can’t afford to buy it, it may be that you can’t afford to buy it now. You may afford it down the road as you pay off bills, and save money for it.

In your record keeping system start with what you have and what you want to end up with in 2 years, 3 years and then 5 years.

Major purchases take a lot of research, to purchase a car correctly, a home, or an education. Realize that it takes time to get your finances in order and research is necessary.

Your personal finances will not be build up in a day or a month. But, if you organize your finances and create a plan, they will be eventually build up. You will create personal finances that rock.

3. CHANGE THE WAY YOU THINK ABOUT PERSONAL FINANCES

Get help and follow directions, remove your old ways of thinking about your personal finances that did not work. Things that don’t work are keeping too many credit cards, charging too much on credit. Also using loans to replace loans (like loan consolidation), will keep you in debt.

Work to pay off  loans with money from savings or income or simply buying what you can’t afford.

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Thinking that things will make you happy, when in fact the happiness with things last only a short period. This is especially true when you find you can’t afford to pay for them, major depression sets in.

Write down the advantages of getting personal with your finances. There are many

1. You save money easier
2. You will purchase what you can afford
3. You can work your way out of debt or stay out of debt
4. You can avoid getting cheated in purchases by unscrupulous salespeople 5. The peace of mind you get when your finances are in order
6. You can hedge against losses if you lose your job or the economy goes bad.
7. You can concentrate on other important things in your life that need your attention.

Summary: Now you should understand that if you want personal finances that rock there are a few things to do. You must first know the definition of personal finances. After you understand that organize your finances, then start your journey of personal finance research.

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organize finances, create personal finances, do personal finance research, make personal finances that rock, from buying the right house, buying the right car, learning to invest and save money

Money Strategy

You Can Create a Successful Money Strategy

If you create a successful money strategy, you can start wealth building. But, first you have to know what wealth building is and is not. Wealth building is not just making a great income or accumulating money or things.

Talk to all the movie stars, athletes, singers and those who have inherited millions only to find themselves living in poverty somewhere down the line. Why? For most of them they thought wealth-building was single faceted and existed only as a million dollar income.

Read More

Dream Finances

Build Your Dream Finances Now

I have talked about wealth building in another article. Now I will tell you about Dream Finances. I prefer to use the term Dream Finances, since more of you understand that term. The issue is Dream Finances versus Nightmare Finances. Dream finances include a portfolio with guerrilla budgeting, mutual funds for savings, and home buying the right way and

Dream Finances is defined by me as having the finances that allow you to sleep like a baby at night. You are living below your means, and all your financial systems are in order. Bills are easily paid, savings overflow, and investments are growing.

Dream Finances Will Allow You to Sleep Like a Baby at Night.

Read More

Understanding Money

Understanding Money is Harder Than You Think

If you are going to have enough money to live off, save and invest. You first must understand money and how it works. It is not difficult to understand money, but it does take time and attention to learn the process. You need to do a lot of reading, research, take courses, and develop an understanding of all the nuances of money.

How Does Money Work?

If you do not have much money, you may need to ask yourself, “how does money work? “How do I prioritize money issues?” It sounds so simple, just make money, and spend money the right way. But spending money the right way has proven elusive to many intelligent people.

There are those who make a lot and end up with nothing. There are those who start with little, make a lot, then end with billions. What is the difference? The latter have figured out, “how money works” by understanding money and all it entangles.

Read More

7 Habits of Wealthy Women

The 7 habits of wealthy women are not what most think. The stereotype most think, is the habits of wealthy women are full of excess and waste. But according to my experience, seeing wealthy women navigate life, they do not spend most of their life in excessive spending and waste. I see wealthy women in the media working hard; as politicians, owning their own media companies, as talk show host, and some working hard in multi-national corporations,where they have a large stake in.

7 habits of wealthy women

Those women do not spend their time walking the aisle of expensive department stores, playing bridge or having a useless tea all day-that is the stereotype. Below I have attempted to explain some of the better habits of wealth women.

These are some of the common habits of wealthy women.

1.Wealthy Women value education

They value education and they get educated, either formal or informal. That does not mean they went to Harvard or Yale, that is not necessary. Many went to cost effective, low cost schools with no or low balance student loans. With low debt there is low stress. With the low stress they can concentrate on advancing their career.

Some go to private schools, but others to a good public institution. Some of them were taught a skill by taking inexpensive classes over time. An example is learning the in’s and outs of finance to protect their money and assets.

Another example is, reaching the top level of real estate, as a broker and managing director or becoming a master in the tech world. It takes career concentration, constant learning and mentorship, and mostly hard work.

2. They research everything they do.

A wise old man once told me;

“Believe nothing you hear, and only half of what you see, research everything”.

There is so much false evidence being passed on as real, that the anti-wealth building process is alive and well. I call it “chasing rainbows”. Wealthy women do not engage in the useless “chasing of rainbows”.

That is, do not believe mostly what a stranger tells you, professional or not. You run the risk of getting involved with bad product or companies, until you find out you have overspent and believed in a false product. Some people go by false advertising copy, some go by the fake status of the person pushing bad products, and some only plain old believe anything.

A case in point is women who get involved with either scam phone calls or dating websites where a person pretends to be something he is not. The next thing they know after 2 or 3 years they have sent the fake person their entire life savings.

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A smart woman who becomes wealthy would not talk to the stranger in the first place. So, the scamming could not take place. She has already learned that there is a system in place for strangers to rob other strangers over the phone.

The best way to avoid this is to avoid others in the first place. Don’t even think there is something over the rainbow that is waiting to make you happy or rich. It does not exist. If the stranger were happy or rich, he would not be on the phone all day soliciting your money.

3. They save and invest like their life depends on it

Wealthy women understand the power of saving money and having money when they need to buy important items. That is, not everything is charged, if it is, it is paid for the same month. They concentrate on making interest, not paying interest.

Then, they go onto learn investing. Investing is the key, I can vouch for that myself, I have had several years of successful investing. I first learned how to understand stocks and bonds, then I went on to focus on mutual funds.

Since there are a wide variety of low cost, low risk mutual funds – it is easy to find great high value investments in mutual funds. Even if they hire investment advisors, they first learn how investments work before they trust a stranger with their money.

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4. They do not engage in predatory loan practices at the beginning or end of wealth building

They understand how to leverage with borrowed money the right way. They do not engage in predatory loans or lending. They usually use loans as a short-term vehicle to address an immediate need. Like borrowing money for a home until an investment tops out, or they save enough from their employment, business, or an inheritance comes through to pay off the home early or in cash. Cars are treated the same way.

5. They are not dependent on others for their livelihood

Women who are wealth builders do not build wealth on the backs of Dad’s or husbands. If they get money from their Dad’s or husbands it is a plus, not their main source. They work hard at a job or business and accumulate money by saving and investing on their own.

6. Whether they make their money during their lifetime or inherit it, they spend it very carefully

Wealthy women are frugal women for the most part. They work hard for their money and spend it wisely. No, they do not take first class flights unless they are doing it with frequent flyer miles. They prefer to save by going business class.

They do not buy in-season clothes; they prefer to buy discounted high value clothes. They do not like to waste time, energy, or money on purchasing things that are not extremely useful.

7. They do not boast about the money they have

The money they have accumulated through saving, investing, and working hard is their business. They understand the dangers of letting strangers know what they have. Even telling family members can be dangerous. People who have a lot of money are frequently the target of professional scammers.

A professional scammer looks normal, they talk like they are in a profession, they have business cards, brochures, fake articles about their fake business. For naive people this sometimes works, for wealthy women, they do not allow others to come to them, they seek out their own prospects and verify everything about them before getting involved. They usually do a swallow and deep background check on a person who works with a legitimate company.

Summation

In summation the habits of wealthy women suggest they are uber careful. They are not susceptible to scams and scammers. They work hard, even after they make a lot of money, and they are frugal and careful with their money.

Wealthy women make sure they know investments and savings, so they can either; invest their own money or monitor an investment advisor and the investments he or she suggest. The habits of wealthy are more positive than not.

Money quotes by Lois Center- Shabazz and

Creating Great Personal Finances in Marriage or a Partnership

Creating great personal finances in marriage starts way before you get married.

PERSONAL FINANCES DURING THE DATING PERIOD

You can get a snapshot of your friend’s personal finance habits by discussing your likes and dislikes while your relationship is in the early dating stage.

This is beneficial because if you see someone who has really bad habits early, you can block yourself from taking the relationship any further. Great personal finance in marriage begins way before marriage is talked about.

Relationship therapist site that one of the top three reasons for divorce is financial problems. Either one or both people in the relationship are over-spenders and don’t pay attention to debt, that is a recipe for disaster. Get out early and save yourself from a long relationship of misery.

Signs of Someone Who Mismanages Money Terrible:
1. They live a lavish lifestyle for their income,
2. They complain that they have debts they can’t pay,
3. You witness them mismanaging money when it comes to paying bills or refusal to live within a budget.
4. They asked you to pay when you go out and it’s their turn.
5. They borrow money from you while your dating
6. A huge sign is if they asked you to sign for a big purchase they can’t qualify for such as a car or motorcycle.
7. Owes money to the IRS – your check could be garnished if you file jointly and your new spouse is not paying. If one or more of these signs exist, especially number 5 or 6, it may be time to leave the relationship now.

PERSONAL FINANCES DURING THE ENGAGEMENT PERIOD

Discuss personal finances after you get engaged, this is crucial since good finances are a major aspect of good marriages. The more you know and agree on early the better your finances in the long run. The engagement period is your last chance to evaluate your future spouse before you get married.

This is when you get deep into habits that could make or break a good marriage. One of those habits is spending. This is your last chance to identify your chances of getting great personal finances in marriage that will be lasting.

Don’t use this period to brag about your ring or only think about the type of dress or tuxedo you want. But, focus more on the fact that this is your last chance to get to know each other on a deeper level.

Ask a lot of questions of each other before you are married, obtain and share your credit reports with each other, work to get both credit reports in good shape before you get married.

Pay off any excessive debt either of you may have, pay off bills that may hinder a good relationship, sell off things you don’t need, and could be used to pay off debts. Understand how personal finances (budgeting-spending-investing), now, will affect your relationship later.

If one or both of you has bad finances or bad financial habits now, you may not be a good fit for marriage to anyone soon. It’s ok to get out now, even though the rings and dress have been purchased. It is far cheaper than a divorce.

PERSONAL FINANCES IN MARRIAGE

After you are married, maintain good finances together to help maintain a good marriage and a good family life. As stated before, marriage counselors state financial problems as the main source of marital problems and eventually divorce.

Maintain good finances to help maintain marital bliss and a financially stable life together.  Secure finances, that includes a financially secure home life, includes the frequent discussion of and analyzing.

You are now responsible for the finances of one another. One with poor finances could affect the purchase of a home or car. One with poor finances could put the family into an unnecessary bankruptcy. If you lose one spouse to death the other is responsible for paying off their debts, if the debts are listed only in the deceased name.

Some debts are transferable through estates, some are not. As a married couple, there are benefits to purchasing a home or car together, keep finances strong together so these purchases will be possible.

If you find yourself in the unfortunate scenario of marrying someone who is a terrible money manager, that can be fixed if the person is willing to admit it and work with you to change. Start with my free personal finance worksheets available on this website.

Here are some helpful tools you can use now! All free for my readers

Lois Center-Shabazz | Course Delta Agency
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Life Without Affordable Health Care

The Affordable Health Care Act
Life Without Affordable Healthcare

Also known as “Obamacare”, has been in operation for about nine years now, as of 2019. Unfortunately, there are some politicians who have politicized it, and now patients are in jeopardy of losing their Affordable Health Care Coverage. Many did not know the health insurance they held, was given to them under the Affordable Health Care Act, according to polls.

The Health Care Debate

There has been a lot of debate about the government provided health care coverage in the United States. Who would have thought there would ever have been a debate about saving lives? With the uninsured rate sky rocking from 2 million in the 1970’s to over 50 million (uninsured and under-insured), before the government-sponsored health coverage began. We would have thought everyone would have been ecstatic about its lifesaving function. After all, the politicians who don’t agree with it get government sponsored paychecks, pensions, and health care.


Is Health Care Important if You Are Not Rich

There are many reasons health care is important; it encourages Americans to visit the doctor on a regular basis and go to the hospital when needed. What happens when you have no health care and no other way to pay when you go to the hospital. There are a few devastating things that can happen. First of all, many uninsured will stay away from doctors and hospitals when they are sick, and continue to get worse. But, equally devastating is the financial aspect, if you own a home, they can eventually place a lien on your home and do a forced sell to pay a large unpaid hospital balance. They can also get a court order to garnish your check for payment. Now, would you rather have government sponsored health care, (with subsidies, to help for payment, if you make under $50,000), or would you rather lose all of your assets for (potentially) the rest of your life.

Small Business and Health Care

I spoke with a small businessman about health care. He has 3000 employees nationwide. He was really upset he had to provide health care for his employees, initially. Then, he complied and went into shock. His employee attendance rate increased by 50% immediately. His employee morale increased drastically. He was happy to find out he also received a subsidy to help with the payments. It was a win-win situation for everyone involved. His best surprise was that health care worked wonders on his business bottom line, despite his previous misgivings. His employees revealed they stayed home with the slightest illness because they were afraid to get sick. They could not afford to go to the doctor or hospital, without the fear of either being turned away or financially devastated as a result of treatment.

Car buying for women and girls.
Health Care From a Physicians Point of View

Another health care scenario is that of a physician I spoke to who worked in the emergency room for 6 years. He said the first person to usually see the incoming patient is the insurance person, if not immediately, soon after arrival. He witnessed one of three things: The person was given no treatment if they had no insurance and appeared to be ok, or band-aid treatment, that is enough to make them comfortable and safe at the moment if they had no insurance. Or, treatment with a huge bill sent to them if they had a job or home. Before the Affordable Health Care Insurance, a few patients were
treated and given the government hospital subsidy if they qualified.

Do You Really Need Health Care

I am trying to establish a pattern why you need to have health insurance if you are uninsured or under-insured (many individual plans will place you in the under-insured category without your knowledge), and be grateful that you have affordable government options if you get sick, just as the politicians have. The companies providing the coverage are private insurance companies.

The affordable health care insurance is for those who don’t have health insurance or are under-insured. It will provide yearly physicals and health maintenance procedures like mammograms, colonoscopies, pap smears, and physicals to help maintain your health or catch problems when they are small and treatable. You will also be covered for hospital room and board, as well as hospital procedures. Concentrate on low deductible and low payment insurance plans to keep it affordable for you and your family.


Affordable Health Care Update 2019

For health care you can get coverage that starts January 1, 2019, if you sign up by December 15, 2018, you have until January 31 to get covered for the coming year.

If you lose your job, get divorced or lose your insurance, you may be able to sign up anytime. You may also need to re-sign if you move to a different state.

Here is the health care web page: Affordable Health Care Website


Affordable Health Care Update 2019

Unfortunately, at this point, I don’t know what the future of the Affordable Health Care Act is. The new administration is committed to destroying it.

A friend of mine is a specialist in medicine with many very sick patients who are currently in the middle of expensive medical treatments, under the insurance bought with the affordable care act. The republican administration says they have a replacement, but we have not seen a viable plan, only promises. A friend of mine who is a specialist in medicine has several republican patients getting serious treatment.

They were not aware that the Affordable Health Care was the same as “Obamacare”, now they are terrified that they may not be able to finish their medical treatments. Hopefully, they will re-think their position and allow lives to continue to be saved with Affordable Insurance. Out local newspaper just reported that a major University Hospital that gets tax breaks and government subsidies is regularly putting liens on the homes of patients without health care and garnishing checks of people who work at places such as walmart. Get insured and stay insured.

Save Money Like a Pro Now:
The Secrets to Successful Home Buying for Women

Lois Center-Shabazz | Course Delta Agency
Personal Finance: Author, Blogger, Course Creator, Money Strategist

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Personal Finances Should be Personal

Your Personal Finances

I was speaking at a women’s meeting about personal finances and a young woman, about 35 came up to me and ask me what are “personal finances”. I was really shocked since being there meant that she was in some way affiliated with a business she owned.

She looked me in the eye with a very serious face. I pointed to her and said “your – personal – finances”. Your finances that you take very personal. You monitor, you manage, and constantly improve your finances yourself, even if you have help. It’s crucial that you understand your own finances.

It seems like it would be common sense to understand the term personal finance. But, the definition seems to elude some of the most intelligent, and highly successful people. The proof is in the finances of many.

The workplace embezzlements of high-level employees, the bankruptcies of high-income people, the general personal finance mismanagement of people which becomes evident when they lose a job and lose all or most of their assets due to mismanagement.

I CAN SUM IT UP IN 3 WAYS:

  • RANDOM SPENDING

Take your finances serious – don’t randomly spend money. This is the most important aspect of personal finances. Some folks act as though the money they have in their checking account belongs to someone else, so they spend it until it is gone or before all bills are paid.

Then they go to the credit cards, when those run out, they go to others to borrow money and make up the difference. Then they lose relationships, which is can be more serious than wasting their money.

  • TRACKING YOUR SPENDING

Keeping track of your spending is getting very personal with your finances. Most people don’t understand how fast money goes when it is spent randomly. You can see this also when you charge on credit cards the balance escalates rapidly.

A major aspect of getting personal finance maintenance is paying cash as much as possible unless you use a credit card for points and you have the money and discipline to pay off the balance once a month. With frequent credit card use, many tend to lose track of spending, and their finances become very impersonal.

  • BUDGETING YOUR MONEY

I talk to people all the time who tell me they thought they were budgeting until they read many of my budgeting articles and the advice I give on budgeting. My program includes guerrilla budgeting.

With all the distractions, we have – advertising – expensive products – overpriced cars and high maintenance homes- getting personal with your finances means that you must create a guerrilla budget to survive no matter what your income.

Some folks think all they must do is make more money until they find out they spend more for things and get more expenses, so they are either in the same place or worse financially, as income goes up. They realize the problem is they did not get personal with their finances.

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Lois Center-Shabazz | Course Delta Agency

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The Reason Your Personal Finances Should Be Personal