Tag Archives: financial planning

Financial Planning

One of the most important things you have to do as a single parent is financial planning. In the hustle and bustle of raising your kids alone and holding down a job, financial planning is something most of us leave for “another day”. You can’t, it’s so important for your children’s future that you have to make the time to do it. Some things to think about are: 1. Manage your finances now, set goals, track spending and create a budget. This will help you establish a cash reserve to handle emergencies. 2. Start a college fund for each child. … Continue reading →

Want To Save Yourself $800?

Okay, how can I save $800, you ask? Actually, you can save even more than that by becoming familiar with financial markets, retirement planning and more. One comprehensive evaluation with a financial planner, where he or she will sit down and evaluate your retirement goal, typically costs $800 to $2000. Hey, why not learn some financial planning on your own and turn it into a side business! Then, not only will you save money, you can make a little money as well. How do you learn what to do in order to plan for your retirement appropriately? Do the research! … Continue reading →

Get Rich!

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Okay, yes, I know… we all want to get rich, right? Well, like all good things, money comes to those who wait. Just like anything worth working for, losing weight or gaining income, the slow turtle is the one who wins the race. There is no real get rich quick scheme. Certainly every so often, someone does win the lottery, but the chances that would be you are so slim – you can’t even plan on it. However, you can do some things where you can plan to gain money from them. 1. Start now; start young! The sooner you … Continue reading →

Is There Such a Thing as a Recession-Resistant Home Business?

With all this talk of recessions and the bumpy economic present and future (and it DOES seem to be a topic on the tip of everyone’s tongues in my world lately), I wonder if it does not make us home business owners feel a little insecure? Is there anything we can do with our home businesses in order to create a cushion or make them a little bit more recession resistant? I live in an area of the country where it has felt like we are in perpetual recession; our economy is just not that strong and the tax structure … Continue reading →

List of Financial Goals

As I was writing yesterday’s blog entry on setting your financial priorities, I started thinking about all the different financial goals we might have. I thought it would be helpful to list some, and invite my readers to add any more in the comments. Having a list to work from may also help you narrow down which of these apply most to you. Common Financial Goals: 1. Buy a house. 2. Save for retirement. 3. Retire early. 4. Quit work to stay at home with kids. 5. Take an extensive vacation – around the world, to Europe, etc. 6. Pay … Continue reading →

Do you Need a Power of Attorney?

Most people envision a power of attorney as something you designate on your deathbed. Actually, this is the worst time to attempt this decision. When my husband and I completed our wills, the lawyer also had a file the paperwork for the power of attorney. My first thought was why? As my husband, can’t he already access all our bills and accounts anyway? Not completely… any joint assets like a house can’t be sold without the consent of both parties. Imagine a scenario where you were in an accident, unable to respond, and the bills were stacking up. Your spouse … Continue reading →

Retirement Accounts – Mixing Assets

The concept of saving for retirement is often confusing. My first recommendation to you is to call a financial representative from the company that holds your accounts. They often have loads of free advice to give. It can also be worth your time to pay a separate financial planner or advisor, particularly if your assets are huge or your situation is complicated. To help you in these discussions, it is good to understand a few basics when it comes to your retirement arrangements. The following facts should give you a starting place. • Determine your target retirement goals based on … Continue reading →

Only You

Only you truly care about your money. It is very important to keep that point in perspective. That salesman at the mall, the customer service representative at the bank, even your financial planner does not care about your money the way YOU do. This is a critical fact to remember. You are your own best money manager. Now, I know you may not believe me, but this is absolutely true. Only you can judge your true needs and goals. Only you know how much risk you can tolerate. Only you know what amount of savings and investments feels the most … Continue reading →

Good Old-Fashioned Savings

Finances are one of those stressful topics that come up again and again for the average single parent. We struggle to make enough money and make what we do have stretch as far as it can. There are questions about insurance, education, and credit and all sorts of other financial concerns that pop up again and again. Even for those of us on the tightest budgets, there is something to be said for good, old-fashioned savings… I think that it doesn’t matter how little we make, we can still put some away in savings. I am not talking about living … Continue reading →

Do You Need a Second Opinion?

There are times in your life when you need a second opinion. You may have a serious health problem or you may be worried about what is wrong with your car. That is when you seek the advice of another professional. Well what do you do if you need a second opinion about your finances? Depending on what your concerns are there are several different people you can turn to for a second opinion. 1) If the matter is a simple budgeting question, you may choose to speak to someone you trust. You could choose your pastor or spiritual leader, … Continue reading →