Use software to control your personal finances by Esteri Maina

Personal finance concentrate on the methods used by individuals to access, budget, spend and save financial resources over a given period of time, considering varying economic risks now and in the future.



All this is very crucial but not when it is done manually. Many will start enthusiastically but end up abandoning the good funds control progress in no time because of using these poor methods.



It is very difficult to record all aspects of personal finance in your books, and this is why using software, is much easier, convenient and enduring.



About the software product



It is basically indoor accounting software that enables users to track down their expenses at any given period of time they may wish and this ensures a good comparison in terms of how well they stuck to their usual or new budgeted incomes.



This personal finance software product has got unlimited number of accounts, categories, subcategories and currencies.



The feature of varied currency is very important for the users whose transactions comprise of different currencies as the source of their monies.



It contains summary view, graphs and reports, printing, export and import data. So, it is clear that those doing business across their country borders can still use it to control their finances.



Users got an opportunity to manipulate data in any way they would please by sorting by any field, searching, classifying transactions by names and so on.



This user-friendly product is rated high by the fact that it has a password protection for those family members using it and above all comes in different versions.



Why do you need personal finance software?



This great software enables one manage the personal finances in that, they can understand when cash flows out and where to, locate extreme disbursement and do away with the ones not compulsory.



The software’s usage is fit for both beginners and those acquainted with it because, apart from offering many settings and functions, it is effortless to trail personal finances.



See, it is not all of us who are financial geeks and so it becomes difficult to structure records quickly, in a manner that shows professionalism in knowledge of bookkeeping.



The incredible brains behind this automated method of managing money at personal level has included unique and varied features that one may not create in manual cashbooks.

They demonstrate simplicity and clarity in the way a person’s money has been budgeted and spent in total sums and percentages, balances left on various accounts and in full amount.

Manually, records are not easily deleted when unneeded, edited when errors are pinpointed or even easily copied to the next page.



With personal finances software, there is a feature that enables users to automatically carry out any of the above.



Also when using books and pens to keep records, you have to write dates each time a new transaction has come up.



The software enables you to create brand new transactions by design, without having to specify the date over and over again.



For instance, if a transaction name used earlier need to be repeated again, users can use the auto fill feature to have it done directly without having to fill in the name again.



An original article by Esteri Maina onPERSONAL FINANCE


Article Source: Use software to control your personal finances

Personal Finance Budgeting Useful Hint by himani

Government Grant Money are Individuals can get $12,000 or more in the form of government grants to pay off their financial liabilities.



There are other options for you that can combine and even exceed all the features even the most advanced personal finance spreadsheets can offer.



No one should be surprised to learn this given how the mass media is constantly teaching people in our society to "buy it now- pay later!"



If as related to personal finance budgeting as this article is and it still doesn't answer all your needs, then don't forget that you can conduct more search on any of the major search engines to get more helpful personal finance budgeting information.



However, what happens to be that people have come to compare their income with that of a usual that is also regularly increasing.



Debts are you may not be able to avoid debt totally because you may get loans for buying home, car or business investment.



Online customerýs benefits include a checking balances and viewing statements, transferring money from one account to another, making payments, paying bills online and requesting for chequebook books, demand drafts and statements online.



It was intriguing to find that many people, oblivious of their background, found this article related to personal finance budgeting and other personal finance excel, tips on budgeting, and even personal finance specialist helpful and information rich.


So here is chance to get your free tips on kiplingers personal finance and in addition to that get basic information on saving money visit financial times personal finance


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2 Easy Steps to Building Up Your Emergency Fund by Financial Freedom

An emergency fund is basically 3 to 6 months of income that you set aside which you can withdraw easily. This means that the fund is most probably in a bank account that you can easily tap into should any emergency arise.



Step #1 - Open Another Bank Account



Yes, you heard me right. Why do you have to open another bank account? It is very likely that if you were to start saving money into the same bank account, you will most probably spend the money without knowing it. The most important thing about an emergency account is to keep it out of sight from us so that we do not spend the money!



Many years ago, I wanted to set aside an emergency fund of 6 months income. It was however only 2 years ago that I managed to do so. The reason for the long delay was that I was simply spending all my money in my only bank account which I had. Whenever it reached a certain amount, I would think to myself: "Hey, I've got lots of money....why not I buy this?"



To cut a long story short, I could not succeed in building up the 6 month emergency fund because I had easy access to the account. I started withdrawing money from the fund as it was not kept separate from my other bank account. This is my BEST advice to you: OPEN ANOTHER BANK ACCOUNT.



You will of course want to make sure that this bank account does not have any high charges and stuff for things like minimum balances.



Step #2 - Deposit a FIXED sum of money EVERY month ONCE you get your paycheck



Keeping a separate bank account is Step 1. For Step 2, it requires a certain amount of discipline. The key is to deposit a FIXED amount EVERY month the DAY you get your paycheck.



This is speaking from my own personal experience. The day that you get your pay check credited into your bank account is THE DAY that you must deposit that fixed amount of money into your separate bank account (your emergency fund account).



Do not wait for a few days because once you procrastinate, you will most probably not do it and end up not depositing any money at all for that month.



Let's say that you decide to save $500 per month to build up an emergency fund. All you have to do is simply deposit or transfer the money from your normal banking account straight into the emergency fund account the moment you get your paycheck. This is to prevent yourself from spending it before you carry out the transfer.



Do this EVERY single month until you have built up your emergency fund to your desired level of 3 to 6 months income. No excuses.



Every month, you will stick to the amount you have decided and deposit it into your emergency fund the moment you get your paycheck.



Slowly but surely, you will see that your emergency fund account will start to grow. Make sure that you do not withdraw any money from it unless for emergencies.



So there you have it. 2 simple steps that anyone can take to start building up an emergency fund.


SgFinancialFreedom is a blog dedicated to help people achieve their financial freedom. This is done through the sharing of knowledge, information and experience. Find out more about the author and his journey to financial freedom at http://sgfinancialfreedom.blogspot.com


Article Source: 2 Easy Steps to Building Up Your Emergency Fund

Professional Money Management

By Greer Lean

Many of us cringe at the thought of budgeting, some of us may even feel ill to the stomach! But it doesn't have to be hard; sometimes all you need is a helping hand. But where do you start and what advice should you seek? There are a range of options available for all different issues and a whole wide web full of information out there too.



Let us consider the situation of a fellow we’ll call Bob. He is 27 years old, works for an insurance company, drives a new car, lives in a nice apartment close to downtown, and likes to go out with friends for drinks and dancing. He is also up to his ears in debt. He has no savings. Many months he runs out of money before he can pay all his bills, and he’s been making up the shortfall by running up charges on his credit card. His cards, however, are now near their upper limit and his bank is not allowing any more charges. Bob is struggling to even make the minimum monthly payment, so he is having trouble imagining how he can ever pay off his credit card account.



Bob undoubtedly needs help with his finances. He seems to be incapable of drawing up and sticking to a budget, and he doesn’t realize the perils of running up high interest long-term debt. He is living way beyond his means, and he is on a sure path to bankruptcy unless he seeks help soon.



Does Bob’s situation describe your life as well? No, hopefully, but you may be a good candidate for financial help as well. Anyone who has tried to place their spending on a budget and repeatedly failed, causing them to fall farther and farther behind in their bills and grasping for easy cash injections, should consider trying to find some help.



What sort of help should you seek? That largely depends on the type of help you need. If it is just assistance in figuring out your budget and getting some basic advice you may consider hiring a bookkeeper or accountant to sort out your finances. If you need a loan consolidation to rid yourself of multiple high interest loans your bank might be able to help. If you need more complex help, such as negotiating with your creditors, you might seek the services of a debt relief organisation. In severe cases, you should seek professional legal advice.



If all you need is information, the world is at your fingertips. Just look on any good search engine for help on budgeting or debt management and you will be swamped with information. Much of it is good, much of it is redundant (good advice tends to be the same, no matter the source). But be careful for scams and do not give out any personal financial information until you are sure the organisation can be trusted.



About the Author: After helping Australians out with payday cash advances for over two years, Payday Online know what matters. We welcome everyday Australians to use our service at their convenience, for a quick, safe and hassle free cash injection in less than an hour. Check us out today at http://www.paydayonline.com.au



Source: www.isnare.com

Permanent Link: http://www.isnare.com/?aid=320669&ca=Finances

Stop Dodging Your Creditors

Stop Dodging Your Creditors and Seek Their Help by Ajeet Khurana

By the time I had graduated from college, I found that I was to pay a huge burden of debt. I knew that with my college degree, I would be able to get stable employment as well as a hefty salary. Then I was offered my very first credit card, without my even looking at the interest rates and other hidden charges.



Within two years of working as an executive assistant, I was already drowning in credit card debt and have not been able to pay off my mortgage and insurance premiums. I even coined a nickname for myself, debt delinquent.



Many a time, we choose to ignore calls from the lending company. If they can't reach you or find you, you're safe, right? WRONG! This tendency to avoid the lender is a bad one as one loses out on possible ways of fixing one's credit situation.



If only I had taken the time to talk to any one of my creditors, I would have been given a chance to pay them off instead of filing for bankruptcy. Sometimes you have to learn things the hard way.



Lending companies will want you to pay them back. Your bank will want some of the money that you spent on your holiday sprees. You could talk your lending company into providing you with some means that will make repayment easier. They are not as evil as you think they are. In fact, lending institutions can save you from falling into poverty -- or bankruptcy at least.



Your credit card issuer will mostly likely give you amnesty, if you promise to pay them back with a span of time. In fact, you could even try to get a reduction on the interest that you are shelling out every month. By talking to them, you will have a lot more options on how to settle your balance than by hiding out in the mountains until you think they have surely forgotten about you.



But during this time, your credit card accounts might be closed as they do not want you accumulating more debt while trying to pay off your balance.



If you have unpaid loans from various institutions, they will almost certainly advice you to join a debt management program or refer you to a debt counselor. If you are currently struggling with a major burden of debt and have multiple loans to pay, go in for debt consolidation.



With consolidation, all of your debt will fall under one loan. You not only get lower interest rates but also decreased monthly payments. Do not worry so much about your credit score at this time, focus on paying off your debts. Once you have managed to settle your debts, you can turn with full steam on to the job of rebuilding your credit. Just one point to remember is that student loan consolidation works differently and it does not affect your score.



Reaching out to creditors gives them the impression that you want to pay them back and you're willing to do it on terms that are beneficial to both parties. This is a good way to impress upon potential creditors that you made the effort to repay your debts despite your financial troubles.


Get debt help and debt relief. While you are at it, find out what is an IVA. Be a responsible borrower.


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Eliminating Credit Card Debt

Five Easy Steps to Credit Card Debt Elimination

For many consumers, credit card debt elimination can seem like mission impossible. When you're thousands of dollars in debt and trying desperately to find a light at the end of the tunnel, the outlook can be quite bleak. Fortunately, no one is beyond help when it comes to breaking free from credit card debt. Here are five easy steps that will have you on the road to credit card debt elimination in no time.



1. Get All of Your Credit Card Statements Together



If you're serious about credit card debt elimination, the first thing you need to do is gather all of your credit card statements together and begin creating a "debt elimination" spreadsheet.



What's going to go on this spreadsheet? You'll want to note how much you owe on each credit card, the interest rate and whether that rate is an introductory teaser rate or a long-term rate. If any of your credit card rates are currently on an introductory time line, make note of when that rate will expire and what it will go up to when it does.



2. Figure Out How Much You Can Afford Each Month



Once you know exactly where your debt stands, it's time to form your game plan. This is critical if you want to pursue credit card debt elimination in the quickest and most efficient manner possible.



First, take a look at how much you can afford to put towards your debt each month. Add up all of your monthly expenses (not including the minimum monthly credit card payments you must make). Take all of your other expenses (include rent/mortgage, car payments, insurance, gas, groceries, utilities, phone, etc.) and add them up.



Once you have your monthly expenses added up, deduct them from your income and see how much you have left over. Take as much of that amount as you possibly can and put it towards your credit card debt elimination plan.



For instance, let's say you have $400 a month left after all of your monthly expenses have been paid. Take $350 of that (leave $50 for emergencies, etc.) and put that towards paying off your credit card debt.



3. Addressing Your Minimum Monthly Payments



The next step towards credit card debt elimination is adding up all of the minimum monthly payments for all of your credit cards. For instance, if you have three credit cards, all with a minimum monthly payment of $75, your total minimum monthly payments would be $225.



If your credit card allocation were $350 each month like the scenario we outlined above, you'd be in okay shape so far. However, if your minimum monthly payments were $400 and you could only afford $350, then you have a serious problem and you need to start cutting out expenses. This may mean turning off your cable till you've achieved credit card debt elimination or foregoing your Starbucks runs, but it will be worth it in the long run.



4. The Plan of Attack



Now that you know exactly how much debt you have and how much money you can afford to pay off that debt each month, it's time to form your plan of attack.



First, take the total of your minimum monthly payments and subtract it from what you have allocated towards credit card debt elimination. So if you have minimum monthly payments of $225 and a credit card debt elimination allocation of $350, your remaining balance would be $125. Take that $125 and apply it towards the credit card with the highest interest rate.



Once the credit card with the highest interest rate is paid off, you're going to take the money you were paying towards that card each month (in this case, it'd be the $125 plus the $75 minimum monthly payment) and pay that $200 towards the card that now has the highest interest rate in addition to the minimum monthly payment. Keep repeating this process until you have achieved total credit card debt elimination.



5. The Fruits of Your Labor



Once your credit cards are all paid off, take half of what you were paying towards your debt and put it into a savings account. This will help you avoid having to rack up credit card debt in the future.



What are you going to do with the other half? Take that half and apply it to the things you were doing without while pursuing credit card debt elimination. After all, once credit card debt elimination is achieved, you do deserve to treat yourself.

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For more tips on credit card debt, saving money and avoiding getting taken, check out CreditCardTipsEtc.com, a website that specializes in providing credit card tips, advice and resources.

Bacis Advice on Destroying Debt

Basic advice on destroying debt by Ben Novak

Once you enroll yourself with a debt consolidation services, the company sets to work by sending out proposals to your creditors, on your behalf. These proposals say that you have taken help from the particular debt consolidation company; and requests the creditor to co-operate. The letter has to have proof of your identity and genuine intention to pay-off the debts.



Debt consolidation agencies work by assessing your current debt situation and formulate a relevant plan, which you can carry out no matter what financial state you are in. All you need to do is look up a reliable debt consolidation agency and find a relevant report at its help desk



The word debt consolidation is self-explanatory. It means combining all of your debts into a single, whole payment. This allows you to avoid the hectic act of remembering all your different bills every month and--on top of it--assessing their individual interest rates, too.



Debt consolidation services were setup to provide consumers the much-needed relief from harassing creditors. These services will charge nominal fees for their service. But the function they perform is much more valuable than just their changes.



Be advised that no one can eliminate your debts entirely. Most debt consolidation resources only reduce the rates of interest your cards or loans. And while some claim to "eliminate your interest rates completely," this is not always entirely true. When they consolidate all of your bills, they will roll them into a single monthly installment.



If you aren't dealing with an honest company or a company with good rates, there's a good chance they'll also roll those interest rates into your debt unbeknownst to you.Therefore, make the company prove what he or she can do for you, and make them walk through each step with you carefully. Since most times you will be paying money for the services, you might as well make them work.



All the creditors are interested in at the end of the day is getting back their money. And when your consolidation agent approaches them, they understand that if they do not agree, they just might end up losing the entire due amount. Instead of that, they prefer to keep collecting it in small doses. Debt consolidation services make sure your creditability is not affected due to the negative points that have been accumulated on your account. These points have been added as you failed to pay your credit card bills on time.



Consolidation services ask the creditors to sort that out once you have applied for their services. You are shown as a debt-clearing customer even while you are still in the process of paying it. Hence, the consolidation services are more than just handy in times of debt difficulty.



If you are in debt, your number one priority should be to work through a consolidation service to achieve the best possible debt settlement. A debt settlement will allow you to pay off creditors with money you receive in one large disbursement while simultaneously salvaging your credit rating. That sounds easy enough, but what is the process to consolidate your debt? It's a little more complicated as one might expect


Thank you for taking the time to read my article. My name is Ben Novak owner of http://advisefordebt.com If you are looking for debt consolidation advice please feel free to pay us a visit.




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5 Reasons Why You Struggle Financially

Five Reasons Why You Struggle Financially
By Nadege Lewis

Many of us struggle to put our financial lives in order. Our money situation only seems to get worse with each passing day. The financial strain is unbearable and you finally decide that you are no longer desire to accept your circumstance as reality. Understanding the root causes of the problem is the first step towards improving. Here are the main reasons why your financial situation is not where it should be.

You have no idea where your money is going

The main reason why your paycheck has a lifespan of a fruit fly is not because of the amount of money you earn. A person can earn $10,000 a month but if they spend $10,100 a month, that person will be broke. This is the why we often hear the accounts of lottery winners losing all of their money in a relatively short amount of time. If you can not account for every dollar spent from your last paycheck, you are at risk of losing your hard earned cash on frivolous spending without even knowing what happened.

You do not put your money to work

Your money can work harder for you than you can work for your money. Unless you understand the way money works, you will continue to wonder why you can not accumulate wealth. Saving is a good thing, but investing your money is better. The absolute best thing you can do for your financial health is think your money as employees and make them work as hard as possible to bring more income for you.

You buy things you can not afford

When you make purchases with your credit card and fail to pay off the balance when it becomes due, you bought beyond what you could afford. The math is simple. One minus two equals to negative one. Financially sound people seek to obtain a positive net worth. As long as you continue to spend in a way that maintains your negative worth, you will struggle in your finances.

You do not plan for the future

Part of the reason we use credit cards is because we did not save for a rainy day or expected emergencies. Looking ahead is an important aspect of your financial health. A portion of the income you receive today should be allocated towards your future. Planning for your future will ensure that you do not have to struggle during your retirement. Planning for your future will ensure that you will even be able to retire.

You do have not financial goals

Without financial goals many of us remain in a cycle of struggling. Months, even years pass and we wonder why our money situation has not magically improved on its own. Goals are a key aspect of evolving financially. Your first goal should be write out measurable short and long-term objectives which will bring your finances to the next level. Goals keep us motivated. Without them, we wander aimlessly paycheck after paycheck without putting a purpose to our money. If our money does not have a purpose, we suffer the fate of having an ailing financial life.

These are five simple things that you should avoid doing when it comes to your money. If you are diligent to making sure that you abstain from committing these financial faux pas, you will begin to create new money habits. These habits are the foundation of wealth building that will positively impact your financial resources.

Nadege Lewis is dedicated to helping people learn fundamental principles that bring about financial freedom. Decide today to create Wealthy Habits that lead to financial freedom. Visit http://www.wealthyhabitsnow.com for free information that will change your financial life.

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Personal Finances - K.I.S.S.ing Your Checking And Credit Card Accounts
By George Gilbert

My Dad and father-in-law were at both ends of the spectrum when it came to managing their checking accounts. Dad would spend hours, sometimes days, tracking down a two cent error in his checkbook register. It drove him bonkers when his checkbook didn't balance to the penny with the account statement.

My father-in-law, on the other hand, didn't even keep a checkbook register. He couldn't be bothered with balancing his account. His philosophy was, "If I run out of money the bank will let me know." That is a hands off approach that few of us can get away with, but, it worked for a person that was born and lived in a town of less than 800 people. The bank did, indeed, let my father-in-law know when he was overdrawn. They never, to my knowledge, charged him overdraft fees.

That approach can work in a small town in Northern Idaho. Most of us, however, do not have that kind of a relationship with our bank. In order for our personal finances to run smoothly, it is our responsibility to make the lifestyle choices, and do the work associated with managing our day-to-day finances. How we handle our checking account and credit card transactions is fundamental to keeping things running well.

My Approach Is Somewhere In The Middle

My approach to managing our family checkbook register is somewhere between the two parental extremes cited above. My wife, Lois, and I record all transactions in our register and, like clockwork, I balance our account every month. What I don't do is spend an unnecessary amount of time trying to find errors when our account doesn't balance with the statement. If the error is within comfortable limits, I adjust the account balance and then get on with my life.

What's a "comfortable limit?" That depends on the account balance. My error tolerance is directly proportional to how much money we have on hand when the error occurs. Balancing errors don't happen very often. More often than not our checkbook balances to the penny. The accuracy can be attributed in some measure to the fact that I use personal finance management software.

The point is that personal finances do require some work, but, perfection may not be desirable. There are a lot of people involved in the processing of the various transactions each of us generates as part of our monetary lives. Those millions upon millions of transactions, large and small, are all subject to our own human error as well as the human errors that can be committed by all of those people behind the scenes who we rarely think about.

It behooves us, therefore, to keep tabs on the pulse of our personal finances as recorded in our checkbook and credit card accounts. This ongoing monitoring can be psychotic or a normal, healthy part of our lives. It's up to each one of us to decide where we stand on this issue. Will we adopt a fringe behavior like one of my parents? Or will we keep it sane and simple (K.I.S.S.)?

Using Tools Imposes Lifestyle Choices

Using a cash flow management tool forces you to make choices by imposing lifestyle traits that are required if the tool is going to work as intended. That may sound intimidating, but, for a well written, user friendly program, the required lifestyle traits are not an undue burden. For those of us who are sincerely interested in having "more money than month" instead of "more month than money," developing a few, possibly new habits need not be a harsh adjustment. The payback in financial peace of mind is very well worth it.

Choices We Make Regardless

First, let's take a look at those habits that will make your financial life easier regardless of whether or not you use personal finance software.

* Keep your checkbook register accurate. Your checking account is probably your primary money management tool. It just makes common sense, in my opinion, to keep your checkbook register up-to-date and accurate. If you are not used to writing every transaction (e.g. checks, ATM transactions, deposits) in your checkbook register, or balancing your checkbook every month, these are habits you may want to look at developing immediately. Should you decide to use a money management program, an accurate checkbook is imperative.

* Keep an accurate record of charge transactions. If you use charge cards, keeping an accurate record of your charges and returns is also vital to the success of your cash flow management efforts. In my opinion, not keeping track of charges is a main contributor to why many people get into trouble with charge card debt.

I think it is vitally important that, starting today, you keep the receipts from all of your charge transactions for no other reason than for reconciling your monthly credit card statement. If you are using appropriate personal finance software, charge transactions are entered into the program as soon as convenient. The program will, with accurate charging information, keep you informed of where you stand on your charge card debt.

Choices Imposed By Software

The following issues are specific to the successful use of many personal finance programs.

* One checking account. How people manage their personal funds is very, well, personal. For a single person, the choices are simplified. Once a person takes on a partner, however, personal finances can become complicated depending on how much financial autonomy each partner requires.

Regardless of how many savings and checking accounts each single or partnered person may have, at least one checking account is normally required for use with the software. This one checking account, coupled with the program, is used to plan for and pay bills; plan and pay for planned purchases; and to smooth out weekly living expenses. The intent is for the program and it's associated checking account to encapsulate a person's entire month-to-month financial records.

* Pay bills on a schedule. Instead of paying bills when you receive them or when you get paid, pay your bills on the same days each month. An appropriate schedule for most people would be on the 1st and 15th of each month. The mechanics of bill payment (e.g. check, cash, online, automatic withdrawal) are entirely up to you, but, sitting down twice a month and arranging for your bills to be paid on or before the date they are due will simplify and smooth the paying of your bills.

* Pay yourself on a schedule. "Paying" yourself a fixed amount of spending money the same day each week regardless of when you receive your income will smooth out your day-to-day expenses. How much weekly spending money you give yourself is entirely up to you as is the weekday on which you "pay" yourself.

The trick is to find that amount of weekly spending money that is enough for day-to-day expenses, but not so much that you don't leave yourself enough to pay bills. An appropriately written personal finance program will automatically include your personal "payday" in your month-to-month financial projection so you can easily see whether you have correctly set your weekly spending money amount.

* Keep accurate records. An appropriately written personal finance program gives you a "forward looking" projection of your month-to-month cash flow. When using such a tool, keeping your cash flow projection current is the key to giving you a continual picture of where you are and where you're headed. You will, therefore, have to be consistent with keeping your month-to-month financial records current.

With the right personal finance software, this does not have to be a big chore like keeping track of every penny you spend, or entering and categorizing every check you write. In an appropriately written personal finance program, most of your record keeping will consist of entering bills when you receive them, entering charges as you incur them, paying yourself once a week, reconciling bank and charge account statements, and paying bills. Typically, all of this financial activity will take two to four hours per month.

Paperwork Flow

There are a couple of habits that Lois and I have developed that simplify tasks like the keeping of accurate records. When any piece of paper is received on which is recorded a financial transaction, that piece of paper is placed in our "In" basket.

While most of our financial transactions are handled electronically, there are still items like charge slips, magazine subscriptions and account statements that are printed. By placing all such printed items in one place, they get recorded in our computer records accurately and in a timely manner. It is unusual for one of our paper transactions to be forgotten.

Those pieces of paper that are needed for account reconciliation, like credit card receipts, are put into a "Hold" folder after having been recorded in our personal finance software. Those pieces of paper that are not needed after being recorded are shredded or burned. After reconciling credit card statements, all of the pieces of paper for transactions that have cleared are removed from the "Hold" folder and also destroyed.

It's a simple system, but, it works for us. As long as everyone in a household knows the "paperwork flow," and habitually uses that flow, the chances that transactions will be lost, resulting in potential financial errors, are greatly reduced.

Being Big Brother To Your Checking Account

Another habit that I have adopted is the close, online supervision of our checking account. I'm a big fan of online banking which gives me almost up to the minute information about the status of our checking account. As part of my computer startup procedure, I take a look at the activity in our checking account. This may sound a bit paranoid, but, I've been able to spot unexpected activity on several occasions.

There has been nothing traumatic like identity theft, but, by keeping a close eye on checking account activity I've caught unexpected withdrawals shortly after they happened instead of being surprised on the next account statement. The most recent example involved automatic credit card payments that I thought I had cancelled.

It took two months working with the credit card company's customer service staff to straighten that one out. Had I not spotted the first unexpected payment when it happened, our checking account could have been short by $75.00 each of those two months. That may not be a large amount, but, it could have been enough to cause a potential, inconvenient problem if left undetected.

Financial Peace Of Mind

All of the discussed lifestyle habits are so firmly embedded in Lois and my everyday lives that we no longer even think about them. Consequently, our month-to-month finances are smooth with few interruptions. When we do have to discuss financial issues, it's a discussion over known choices instead of fights over who is doing, or not doing what.

Money is not a source of discord in our lives like it can be for couples. Lois and I have been enjoying financial peace of mind for most of the 40+ years of our marriage. This financial bliss can be attributed directly to the unique cash flow techniques upon which our personal finance management software is based.

George Gilbert writes software for personal computers. One of his popular titles is myOwnPayday, an innovative approach to personal finance that was created out of practical necessity. Find out more about this innovative program at 2goodsoftware.com.

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Wealth Building Tips

Wealth Building- Formula to Wealth
By Luke Blaise

There are lots of formulas to wealth. Just by looking in the newspaper or magazines we see that there are lots of ways that people have gotten rich. If you recognize what these people did and how they did it you can find your own formula to wealth.

For the average American their formula for wealth is to save money and budget, which is one of the worst ways to get wealthy. For most people, they will never get truly wealthy in their lifetimes.

In order to get wealthy, look at the newspapers and magazines. Are the wealthy people featured in these articles rich because they saved and budgeted their way there? Probably not, they got their wealth by creating, and that is what you need to do is create.

By creating extra income through a business or other cash generating machine you are able to quickly increase your net worth. This is the way to get wealthy.

So is there a perfect wealth formula out there? The wealthy are not hiding any secret to becoming wealthy; there is no perfect wealth formula. If there is any secret to becoming wealthy is that it is to take action, and lots of it.

Look around you, you probably know people who are wealthier than you, but who you consider not as intelligent as you are. So how did these people become wealthy? Through action.

Start today, by picking out a business that you can do part-time on the side that will allow you to start generating extra cash.

Let's get rich together: Fierce Personal Finance

Its not crowded at the top, climb over the masses.

Visit my money making blog.

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Sell Your Structured Settlements

Sell Your Structured Settlements - Why, When and How!
By Hunt Robert

With a structured settlement, you do not simply get money at a regular interval to cover your basic living costs and other expenses like medical costs; you also have the option to sell the right at any point of time to get a lump sum amount to meet up sudden needs.

At the same time, you can also settle for periodic payment options to cover occasional costs like education, marriage if you have other means to support you in regular life. In reality, a structured settlement offers you enough flexibility to plan your income depending on your financial conditions.

To add to this, the amount you receive on a regular interval is completely free of federal or state tax. Whereas if you had taken a lump sum amount and invested them otherwise to earn a monthly income, you would have ended up in paying a big part of your earning as tax. For the last comment, we assume that the concerned person have invested the amount wisely.
These are reasons enough that people in general love to get a secured structured settlement instead of a onetime lump sum amount.

Nevertheless, here comes the crux – why, when and how do you sell your settlement in an urgent need! Say, you settled with your company for a monthly coverage option but all of a sudden, you got yourself deep in soup and needed some liquid cash urgently.
What would you do if you do not have any other option to support yourself with a lump sum amount! If this is not enough, you may find some people who sell their settlement to get lump sum amount to start their own business or to build their portfolio.
If there is no option left, you can sell the right of your structured settlement and Government allows you the provision to do so.

Many companies purchase the structured settlement rights at a discount price. The amount you can get depends on your attorney’s negotiation skills and market reputation of your previous employer and other conditions. Often the settlement purchaser demand for a higher discount rate not only to cover all the risks involved in the process but also to draw a bigger profit margin.
There is a common misconception that you must sell all the annuities at one go. However, here you have all the flexibilities to sell your annuities partially and thus you can sell only as much as needed to overcome the immediate expenditure. The rest can be left, as it is, to cover your regular expenditure.
The first thing you need to do is to hire a professional financial advisor and/or an attorney to get the best

deal for you. An attorney can guide you further through the legal procedures like court oversight, consumer protection statutes and legal approvals for selling structured settlements.

Robert W. Hunt is a financial advisor by profession. For more
information on structured settlements, he recommends you to visit http://www.structuredsettlements.bz

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Start Building Your Savings

Where To Start With Building Savings
By Jennifer Tannehill

When I began getting my finances in order, I couldn't wait to get started but I was perplexed. Where should I start? Some experts say, "Pay yourself first" meaning retirement, some say get your debt paid down, while other suggested beginning with an emergency fund. And, those are just the top three, there are many other schools of thought. I asked around. No one agreed on any one method. I read Suze Orman's new book Women and Money. It was a great book, but it could not answer this question to my satisfaction.

I did a lot of research on the net and I came up with my own plan. Here are the steps and my reason for putting them in the order that I did.

1. Start a small emergency fund. I will start by paying the minimums on my credit cards until I have socked away around $500 to $1000. I think this is the best first step because without some free flowing cash I will have no choice but to use plastic if I have any unexpected expenses. I am limiting it to just $1000 at most because I figure that would cover an ER visit, a replacement appliance, or car problems. I just hope I don't ever have all three at once!

2. Begin paying off the credit card debt. One note here, if you are already paying into retirement keep doing so unless you are not able to pay off your existing debt. In paying off debt, almost everyone agrees- you must pay more than the minimum balance due on your cards. However, there are two methods to choose from. The first is to pay off the card with the highest interest rate first. This makes sense because that is the one that will end up costing the most in finance charges. But, if you are anything like me, you like to see progress. Another way to go is to throw the most money at your smallest debt first. That way you see $0 balances sooner giving you a little pick-me-up on the long road to debt repayment. Whichever you choose, pay the minimums on all but the card you are trying to pay down first. Put more money toward that card, but once it is paid off keep putting the same amount toward your debt. In other words, if I am paying $200 on my high rate card and I pay it off, I am to put that money toward the next card. Then repeat the same process until all the debt is paid.

3. SAVE. It is a good rule of thumb to have several months of income saved up in the event that you are laid off, become ill, or cannot work for one reason or another. At this point you can start putting more money into your emergency fund. Once you have that built up, begin saving for retirement if you are not already doing so. How you choose to save is up to you. Step three really requires its own article. Briefly, if you get an employer match on your 401K at work fund it to get the full match, hey, that is FREE money. If you don't get a match or once you have funded up to the match, try to max out an IRA. The type and amount you can invest depend on your income and your age respectively.

I hope this has given you a starting point in getting your finances in order. When I began looking I just wanted a simple plan to follow. I ended up having to make my own. Try it, tweak it, but do something. The worst mistake you can make is to do nothing. Know that no matter where you begin, taking small steps toward dealing with debt and saving will eventually turn into a change for the good.

Jennifer Tannehill maintains a personal finance blog at http://picturewealth.blogspot.com
Please check it out!

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