Money is an important part of our lives. We buy what we need with it, we fund our future with it and we support others with it.
Unfortunately, there are a number of bad habits that can sabotage our financial well-being. Some of these habits won’t destroy our finances right away, but over time, we may find ourselves in a dire situation with little hope of recovery.
Let’s take a look at some of these bad habits and how you can avoid or conquer them as quickly as possible.
1. Smoking. According to the CDC, “Tobacco use remains the single largest preventable cause of death and disease in the United States.” Talk about bad for your finances and your health.
Let’s pretend for a moment that the only cost from smoking is what hits your wallet — not your lungs. OK, how much will you be spending?
Let’s say that a pack of cigarettes costs you $4.49 — although the price widely varies from state to state. And, let’s say you smoke two packs a day. That’s $8.98 a day.
Every now and then, I’ll reach out to the Good Financial Cents community for their input regarding what they’d like to see on the blog.
One person said their biggest financial fear wasn’t generating enough income to maintain their current plan. I thought I’d address that fear in this post. After all, that’s pretty scary, right?
Imagine not bringing in enough income to pay your bills or those unexpected expenses that come up every so often. Perhaps you don’t have to imagine that scenario — you’re living it!
You know exactly what it’s like to be late on your bills and have to borrow using credit cards to make ends meet. Whether you’re in that scenario or you want to know what to do should you find yourself there, this post is for you.
The Financial Blogger’s Conference community provided me with some of their best tips that I’ll incorporate into this article. You’ll love what they have to say.
Alan Steinborn at DestinationDebtFreedom.com has some important preliminary advice for those who find themselves in this situation:
One important thing is to not be hard on yourself.
Finally…you’ve said good-bye to your last job and you’re settling into retirement. Along with the daily commute, one of the things you can cross off your to-do list is maintaining a pristine credit score, right? Not really. There are reasons why, even in retirement, having excellent credit can be a boon.
Here are five scenarios in which having and maintaining great credit can help you reach a goal or address a lifestyle issue that may come up when you’re no longer working.
1. You Plan to Travel
One dream you may be longing to fulfill as a retiree is seeing the world, now that you have more time to do it. Whether your destination is Cape Town or Cabo San Lucas, what can help get the best deals on expenses like airline tickets and hotels is a credit card that’s generous with rewards. (See Top Airline Miles Credit Cards for specific examples.)
Of course, you need excellent credit to secure one of these cards. You also need to use the credit cards you have and pay off any balances in full to maintain a good credit history. “Use it or lose it,”
What brokers makes sense to work with?
As soon as it comes to your money, do not rush into the Forex market at breakneck speed. First of all – the right choice your broker.
First, choose those who you can trust, look at the feedback what the Internet gets this or that company, how widely it is represented in the information flows (it’s also easy to make using any internet search systems), what it offers to customers.
Second, carefully review the benefits of Internet-based platforms. Some brokers are holding too high spreads, charge commissions for deposits and withdrawals. Choose those who set the minimum commission – is significantly save your money. Look at the most appropriate forex trading services for you.
What guided opening of the transaction?
The successful trader Forex market is crucial economic information affecting the state of the global currency market. Equally important is the economic and technical analysis of the Forex market, which is done on the basis of forecast currency movements in the market.
And you can independently learn forecasting skills and ready to use the forecasts of professionals. For example, look at the euro dollar forex forecast.
Experts comprising Forex forecasts tend to have the highest skills of the
This week’s question is from a reader who’s ticked off at a doctor. Literally.
On April 29, I went to a walk-in clinic to have a tick removed from my head (I could not remove it because I could not see it) and on Friday, May 31, I received a bill for $750 to be paid by May 28. Is this normal, and is there anyone who can help me? Am I to blame for not asking the cost of this before they helped me? I am in my 60s, and this has been so stressful. -Sara
If this story had been about any business other than health care, I would have thought this reader was pulling my leg, because the price is so out of line with the service received. But because it concerns medical costs, I find it not only believable, but likely.
Exactly What Are These Services Worth?
A couple of years ago I had a high fever and couldn’t immediately get in to see my doctor. I was in such misery, I drove myself to a nearby hospital emergency room. After a few hours, a few tests and a shot of antibiotics, I was on my way.
Several days later I
Understanding a few basic numbers can give you a good picture of your financial health and help you plan your future. You may have seen these terms mentioned in personal finance articles and in the news. Learn what these numbers mean and how to use them to improve your money situation.
1. Net Worth
Net worth is the most important measure of your overall financial health. The calculation of net worth is simple — in short, subtract everything you owe from everything you have:
Net Worth = Total Assets – Total Liabilities
Assets include all property you own (including cars, a home, etc.), savings, investments, and the money in your checking account.
Liabilities include credit card debt, student loan balances, mortgage balance, auto loan balances, and other debt. It is possible to have negative net worth if your liabilities exceed your assets — this is a common situation for new college graduates who have student loan debt and few assets, for example.
There are two ways to improve your net worth: Increase your assets, or reduce your debt. Do both simultaneously, and you’ll be on your way to improving your financial health quickly.
2. Home Equity
Home equity is a measure of how much of your home you