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Your Money Personality

Each of us is different. The jobs we have chosen, where we live, who we are friends with, all say something about our personality. These character traits also define how we approach money. Managing money is easier for some than others. As a necessity though, we all do need to learn to best manage our money to be financially successful and plan for a stable future. Luckily, there are many different approaches to money and hopefully you can find one that works best for you. The key component to a successful money management system is to find a process that … Continue reading →

What Motivates You to Manage Your Money?

What motivates you to manage your money? If you are just beginning to manage your money and to get your debt under control was there a specific experience that brought you to that point? Or if you have always managed your money, saved, and avoided debt, why do you think you do this? Do your parents have an affect on the way that you handle your money? I think that my biggest motivating factor is seeing the stress that money has caused other people. I also have plans for my retirement. I want to travel and help others. I know … Continue reading →

Do I Really Need to Manage My Money?

We all know people that drift through life, without seeming to have a specific direction of where they are headed. The future is always something that is never too focused. These people are very good at enjoying the present moment. While it is important to enjoy the present, it is also important to plan for your future. Money management is essential to help you achieve your dreams. Many people balk at the idea of having to sit down and budget their money every month. It is stressful, boring and too much work. But they often do not realize all that … Continue reading →

Finding Balance with Money Management

It is important to find a balance when it comes to money management. I am sure that you know people who are so careful with their money, that they never take the time to enjoy it. They do not go on long vacations, buy toys for their children, or give to others. Their focus is to save, save and save some more! And I am sure that you know people who take no thought for the future, or even for the present. The simply buy what they want when they want, even if it means financing everything. Both of these … Continue reading →

Gearing up for Financial Risk

The most financial stable single parents I know tend to be pretty frugal people. I know in my own case, my frugality and care with my finances as a single parent have kept a roof over my family’s head and food on the table during some financially precarious times. Because we get so used to keeping a tight hold on the purse strings, it can be tough to let go a little and take some financial risks–make large purchases, invest money, diversify our finances, etc. It can take some of us some time to get used to the idea and … Continue reading →

Evaluating Risks

Determining risk plays a huge role in money management. From selecting insurance, setting aside an emergency fund, to investing – you have to evaluate your personal financial risk. Usually, the more risk you take the more money you potential have, but then if your good luck runs out… risky choices can quickly ruin your finances. Ultimately you have to derive a comfortable balance. Being too risky can cost you money, but so can being too safe. The key is in finding the right balance given your unique situation. How do you do exactly that? There is no set answer that … Continue reading →

Get Organized Financially

It can be difficult to get ahead financial if you are not organized when it comes to money matters. This is one of the most important areas of your life to become organized in. It is easy to become overwhelmed with tracking the daily spending, as well as paying the monthly bills. Here are five tips to help you get organized. 1) You should have a place where you store your unpaid bills. When you receive a bill or an account statement, you should put it in a specific place. In order for this to work you need to go … Continue reading →

Why Do You Spend or Save?

What motivates you when it comes to your finances? Are you a big spender? Or do you consider yourself a saver? Do you enjoy budgeting? Or do you hate it? Or do you even bother to budget? It is important to ask yourself these questions and to truly understand the feelings that you have towards money. These feelings will affect the decisions you make and the financial success you do or do not have. It is important to find a good balance between saving and spending. I have known several compulsive shoppers and spenders throughout my life. I understand the … Continue reading →

Common Single Parenting Struggles

Single parents definitely have struggles unique to the situation. However, with the right attitude and a plan of action, the struggles can be minimized. I wanted to touch on some of the common areas that we as single parents tend to find challenging. Remember, we do have resources but the first step is identifying the struggles so the appropriate action can be taken. One of the most difficult areas for single parents has to do with finances. Obviously, going from a two-income home to just one really cuts into a budget. Now paying the mortgage, car payment, utilities, groceries, credit … Continue reading →

Five Steps to Organizing Your Finances

One great New Year’s resolution is to organize your finances. It is a great time to sit down and take stock of what you are earning, saving and spending. Here are some basic tips to organizing your finances and to help you get on the money track that you want to. 1) The first thing you need to do is realize that money is a tool that you can control. If you do not choose to control your money, you will never be able to use it to help you reach your dreams and goals. You will become slave to … Continue reading →