Happy 1 Year

Image result for 1 year anniversary

Budget and Invest turns 1 today.  I know it is Thanksgiving and I want you all to enjoy your time with family so I’ll make this short and sweet.

I was inspired to start this blog a year ago by the passing of my father, a man for who I had much respect.  Although my father taught me many things, finances was something we rarely discussed.  The subject wasn’t taboo or anything, just not something that was ever brought up in conversation.  After he passed away, I started to see why.  My family’s finances weren’t as well of as I personally would have liked to have seen for my mother.  She didn’t have much say when it came to the family finances.  Dad would always tell her that he has everything handled.

The older I get, the more I realize just how open people need to be with their finances with loved ones.  I have also come to realize that the more one educates himself or herself on personal finances, the better off they’ll be.  Books like Rich Dad Poor Dad, The Millionaire Next Door, and Simple Wealth, Inevitable Wealth have taught me more about personal finance than a lifetime of schooling ever has.  That is why I share you with the knowledge I have gained and my personal stories.  In hopes that all of my readers can achieve the same financial success that I hope to and will attain in the future.

Happy Thanksgiving.

Budget Smart, Invest Wise

Gobbling Up with Thanksgiving Savings

Tis’ the season!

Of deals that is.

Now is the time where we are bombarded with fantastic deals for the holiday season.  Black Friday, Cyber Monday, we have already been getting emails about these fantastic prices to be for over a month now. Amazon, Wal-Mart, and Best Buy are just a few of the companies vying for your holiday shopping business.

Whether it’s a good deal on a new TV or the latest gadget, companies want you to think that it is now or never when it comes to getting the best deal on a product for the gift-giving season.  While this may or may not be true, creating a budget for these seasonal expenses is critical to keeping credit card debt to a minimum.

It isn’t only the season for savings, but people feel the need to spend more than they can afford and charge it to their credit cards.  This equates to not being able to afford the full payment when your cycle comes around, thus leading to the high interest rates that credit cards charge.  Avoid the high interest rate and keep your holiday spending in check with these 3 tips.

  1. Pay Cash: Don’t be so quick to put every purchase on a credit card.  If you can pay in cash then do it.  This will prevent you from mindless spending.
  2. Create Gift Allowances: Put a limit on the amount you will spend on someone for the holiday season.  This will allow you to appropriately budget out your funds for all of the individuals you need to buy for.
  3. Time Over Money: Remember that the holiday season isn’t truly about who gets the best gifts, it is about spending time with the people you care most about.  Objects and money can be easily replaced, but moments spent with loved ones will have a greater lifetime value.

Budget Smart, Invest Wise

 

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Social Security and the 2016 Presidential Campaign

As you should know, we are all in the midst of debates among both Democrats and Republicans for the 2016 Presidential candidacy.  While there are many social issues these candidates have discussed, there are also a few fiscal issues discussed as well.

The majority of the fiscal issues stem around America’s growing debt burden (which is now over $18 trillion).  However, another topic that has taken somewhat of a backseat, but is still discussed in these debates is the topic of social security.

Social Security Proposals Show Shifting Ground in Debate

Some candidates want to push back the retirement age, others would like to cut the benefits paid out by the program.  One suggests raising the cap on taxable income for social security.  To view each candidates stance, CLICK HERE.

Americans who are retired or are planning on retiring in the future and relying on social security income to help fund that retirement should be assured that this topic has relevancy to these debates.  Although we cannot predict who the next president will be, or what ultimately will happen to the social security program, we can do our best to make sure that we are well off no matter what is decided.

Having IRA’s, pensions, and 401k plans are ways to ensure a safe retirement.  Maxing out contributions to these retirement vehicles where applicable can give one peace of mind in the future.  What will happen with social security in the next 20, 30, or 50 years?  Nobody knows.  However, a broad retirement plan can help lessen the stress and worry about what might occur.

Budget Smart, Invest Wise