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How Many Bank Accounts Do You Have?

I have three. There’s the family account, where my husband’s paycheck is deposited. From this account, we pay the bills and keep the family afloat. Then there’s my business account, which is hooked to my PayPal account, and this is where all my business checks are deposited. We use this money to pay extra on our bills, and often, when unexpected things come up, like the growth spurt my son’s feet decided to have last week and we needed to buy him new shoes. And then we have a savings account for the kids. Why three bank accounts? What benefits … Continue reading →

An Easy Way To Simplify Your Business Finances

When you own and operate your own home-based business, it can be tempting to just place all of your earnings into your regular bank account and use that same account to make all of your personal and business purchases. If this is your current business accounting strategy, it may be time to rethink things a bit and consider giving your business its own checking and savings accounts. One major reason why it is important to have separate accounts for your business and personal funds is ease of record keeping. When you keep all of your money together, it can be … Continue reading →

Protecting Yourself During a Legal Separation

My last article focused on the aspects of a legal separation. Many couples think that they can just move apart and be legally separated. However without the proper papers filed, you are not protected. A legal separation is a must if you feel that the divorce or separation may get ugly or difficult. It can help give the two of you guidelines to live by so neither partner is taken advantage of during the separation. In the article, I also began noting some precautions that one should take when undergoing a legal separation. This article will offer more advice on … Continue reading →

Organizing your Files

Part of good money management is staying organized. Do you have a good filing cabinet? If not, head to your local store or yard sale, buy yourself a sturdy filing cabinet and some good files – and let’s get organized! Keeping track of old bills, receipts, warranties, product information, etc. will help save you money, time, and your sanity in the process. For some of us, this is simple… but for many of us, we have no idea how to get started. The following is a list of folders you should definitely have in your filing system. 1. Budgets and … Continue reading →

Work Together on Your Finances

One of the most important things you can do to reach your financial goals is to do your budget and financial planning with your spouse. It may seem difficult because you have different management styles or goals, but bringing this inline with each other will help you move forward much faster. Also if you are not on the same page, you will fight about money constantly. You can prevent this when you plan together. You need to realize that you should both compromise so that you can make a plan that works for you. If one of you feels the … Continue reading →

Should you Keep your Money Separate or Together in a Marriage?

A discussion regarding marriage and money really has two parts. The first is the financial considerations and the second is the emotional. Money unfortunately plays a large part in most couple’s struggles. In this day and age, many women now work or have money from an outside source. Whether they came to the marriage with large assets, their own business, or other types of money situations, the relationship between couples and money has dramatically changed from 30 years ago. With these shifts in women’s independence and a family’s reliance on two incomes, there comes a new dynamic of whose money … Continue reading →

Merging Your Finances

If you are just getting married, it can be difficult to begin to merge finances. This becomes especially difficult when it comes down to debt and savings. It may be difficult for the partner who has little or no debt and a lot of savings to want to merge the financial situation with a partner who has large amounts of debt and no savings. The first step to successfully merging your finances is to agree to do so. It may sound silly, but if you hold something back or hide part of your finances from your spouse, then it will … Continue reading →

Using Found Money to Achieve Your Financial Goals

Lots of times money comes into our hands, wallets, or bank accounts, and finds its way out again just as quickly. I’m talking about that birthday gift from Grandma or the rebate check that arrived in the mail. What was it used for? A drive-thru meal at McDonald’s? Snacks at the movies? Maybe you have no idea? All of us have that kind of “found money” that makes its way into our lives. Often times it was unexpected or forgotten about until it arrived. Therefore we have no real plan for it. Here are some common examples of found money: … Continue reading →

Family Stories – Fact or Fiction?

Everybody likes a good family story. However, genealogists who are considering preserving the stories of their families may wonder which stories should be written down and otherwise preserved and which might be inappropriate for inclusion in a family history book. I don’t say “inappropriate” as far as subject matter, because perhaps stories that are scandalous or best read by mature audiences could be recorded in a separate volume than those that are to be freely read and enjoyed by everyone. What I mean by the use of the word “inappropriate” is that not every family story is securely rooted in … Continue reading →