With all that’s going on in the economy nowadays, many new graduates are finding that the current state of the financial markets is one more challenge they have to face coming out of school. Staying on top of your finances is key to getting ahead, regardless of the economy. That’s why budgeting is so important. Here are some tips for creating and maintaining a hassle-free budget that enables you to easily manage your dough.
Make a budget. While following a budget after school sounds like more work, it’s vital to ensure that you stay on track of finances after college. With loans to pay and probably not much income coming in, a budget gives you a good idea of where you stand. Even if you scratch down your monthly bills and expenditures on a piece of paper, you’ll still see where you need to put your money and where you can cut back spending. Many recent college graduates are intimidated by making a budget—the truth is that you don’t have to keep track of everything using the latest financial software…something simple will do.
Review your budget regularly. The budget won’t work unless you repeatedly review it. For example, if you’re not making your minimum credit card payment month after month, there’s a problem and you’ll need to see where you can take money from to make the payment. Looking at the budget helps you remember where funds need to be allocated so you don’t wind up doing something like getting extra money one month and blowing it all on something frivolous because you think you have “extra” spending cash. Even if you’re a savvy spender, knowing what your expenses are will help you be more aware of your financial status.
Adjust your budget as necessary. The great thing about a budget is that it can be amended. For example, if you’re just out of school, you may not be paying off student loans for the first six months. But when that payment is added to your expenditures, it can hurt! So you’ll need to constantly re-evaluate where money is coming and going. Think of your budget as a living document—you have the power to revise it at any time and doing so can keep you on top of finances. You’re in control of your financial future when you take time to become aware of it.
Integrate your budget into your long-term goals. There will come a time when you’re not just getting by and you’ll want to think about what you want out of things on a long-term basis. If you’re planning on getting a promotion next year, don’t spend that money as if you have it already; instead, plan to use the extra money when you get it to pay off something like credit card debt, which usually has a higher interest rate than school loans and isn’t tax-deductible. Are you getting married soon or getting your own apartment? Once you get on your feet, you can plan on starting a separate fund and putting money towards things you want.
Keep your chin up. Remember that everyone is going through a hard time after college. You may not get the job of your dreams or be living where you want to. School loans may be overwhelming and the economy can be shaky. You may give in to a silly purchase or wind up losing money. You don’t always have to stick to your budget—but stick to the process of budgeting and take control of your finances. That’s your best defense against the crazy “real world”…and the best way to ensure you’ll make it out there.
- Kristen Fischer
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Staying Aware Of Finances Is Vital For Recent College Graduates Entering The Workforce
This is one of the most shocking statements I’ve heard in a long time and because it rhymes, the quote has been inside my head the whole day long: “Cash is Trash!â€
I cannot believe it!
Please make sure to read every word on this post, watch the video below and download the latest book of Robert Kiyosaki (free below) as it will open your eyes to a very harsh reality I think everyone must be aware of…
About 2 years ago, a Peruvian friend of mine here in Amsterdam, told me that the first thing he learned during his MBA studies was the following quote: “Cash is Kingâ€.
In my mind, I disagreed with him but never told him as he was very enthusiastic about his MBA studies and I did not want to be the “party pooperâ€.
After I read the book “The Cashflow Quadrant†by Robert Kiyosaki in 1998, I understood that CASH was not king but Cash Flow was the real financial monarch!
In 2002 I read his other book: “Rich Dad Prophecy†and it was then that I REALLY understood what he really meant.
Since then I’ve been looking at the world with really different eyes and to be honest I am absolutely not surprised of what is happening financially these days in the world.
Kiyosaki has been one of my financial beacons and I have tremendous respect for him. His new book is called “The Conspiracy of the Rich†and he’s giving it away for free temporarily online as a.pdf and videos.
Before I tell you where to get your copy, please watch this video below, it will blow your mind and you will understand a bit more why I think it is so important that you find out more about the real status of the economy.
Please watch this video in full and continue reading my post afterwards…
Scary thought ha?
Now you see how the title of my post clearly reflects what cash really is right?
Now, what does that really mean…
Well, what it means is that we’re entering into a HUGE era of change and it is critical that you adjust the sails because the economic world as we know it will change dramatically.
Excerpt from:
From 2009 Until 2023 Cash Will be Trash!
Many 60-somethings are getting hit with a cold, hard reality: Their evaporated investment portfolios mean the golden years of retirement are getting further out of reach. In fact, the market’s downturn has taken such a toll that many retirees are now dusting off their resumes and trying to find work.
Older workers (55 and over) tend to have relatively low unemployment rates (in part because younger workers, with less professional experience, are often the first to be let go), but the devastating jobs picture is undermining that advantage, according to a February report from the Economic Policy Institute, a nonprofit think tank. When the recession began in December 2007, older workers accounted for just over 11% of the total unemployed. That number jumped to almost 13% in February.
Besides the fact that the timing couldn’t be worse, the growing ranks of older job seekers face some formidable hurdles. After all, many haven’t been on a job interview in decades. “They don’t know how to package their skills and accomplishments. They think the trick is just to list everything they’ve done, and get a job based on cumulative experience,†says David Delong, president of David DeLong & Associates, a research and consulting firm on work force issues.
Outdated skills are another obstacle. Many 60-somethings aren’t up to speed with the latest technology and may not qualify for certain positions because of it. So if acronyms like HTML and SEO sound like a foreign language to them, they’ll need to brush up.
Here are some steps the 60-and-over job-hunting crowd can take to get back in the job market.
Know where the jobs are
Sure, it’s hard to imagine that any industry is hiring these days. But it’s not as hopeless as you might think. Even better: Certain industries and employers are growing particularly friendly to older workers. According to the Urban Institute, an economic policy nonprofit, the 20 fastest-growing occupations among those with above-average shares of workers 55 and older include home health-care aides, pharmacists, veterinarians and (oddly enough) animal trainers.
Other industries holding up in the downturn include education and the government. Search for full- and part-time jobs available in your area on the many sites that cater to older workers. Among those that offer listings and advice are Workforce50.com, RetirementJobs.com, and Encore.org.
Get trained
Many community colleges offer programs designed especially for seniors looking to get back into the work force. Rio Salado Community College in Arizona, for example, launched a program in partnership with AARP that helps older workers learn the ins and outs of job searching, including lessons on networking, building a resume and interviewing. The college also offers a noncredit basic computer literacy class.
The summer program at Dallas’s Richland Community College will offer elderly students a workshop called “Job Search: You’re Not Old, You’re Experienced,†as well as courses on how to pursue an encore career and starting your own business. “Now with all these layoffs, these folks are only interested in, ‘What now?’†says Mitzi Werther, director of Richland’s emeritus program, which serves people over 50.
Other programs focus on more specialized training. Virginia’s department of education, for example, offers a 16-week fast-track program to get a teaching license. The certification program, which costs $3,150, entails both online and on-site instruction.
Tap into nonprofit and local training programs
Local nonprofit agencies are a great resource for training opportunities. Operation ABLE in Boston, for instance, offers clerical and customer-service training courses. “The big thing now for mature workers who are losing jobs or needing to get back to work is they need new skills, and it’s usually around office technology, says Tom McFarland, a spokesman. “We built both of these programs to get people back into office positions.†Programs like these can be pricey (Operation ABLE’s customer-service program costs $3,750), but financial aid and student loans are available to people who qualify.
Take advantage of government resources
For lower-income job seekers, the Senior Community Service Employment Program (SCSEP), which is sponsored by the Department of Labor, offers people 55 and over access to training and part-time job opportunities. Available through organizations like Operation ABLE or AgeOptions, a nonprofit that serves seniors in suburban Chicago, these programs place participants in community service positions at government agencies and nonprofits for 20 hours a week, and usually pay them minimum wage (which varies by state). “Their only obligation is to provide you with some kind of training in an area you don’t already have [experience in], so that over a period of time you matriculate off the program into unsubsidized employment,†says McFarland.
Your local department on aging should have information about programs specific to seniors’ needs, as should individual states’ labor departments.
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Going Back to Work in Your Golden Years
Kiyosaki knows that there is a time to sow and a time to reap. He has reaped fortunes that helped him retire at the early age of 47. And, he sowed when real estate was not the preferred investment class and he cautioned real estate investors against risky strategies such as “flipping,” and relying solely on the appreciation of properties with low or no “cash flow.”
So, what does this famous investor like now?
He is looking at the commodity markets, specifically the precious metals: gold and silver. Yet gold and silver are investments that are still out of favor with most of the investing public.
Why You Should Be Investing in Silver Just Like Robert Kiyosaki
1. For the average investor, silver can be an effective means of diversifying investment assets and preserving wealth against the ravages of inflation. Although the value of silver may vary, it has an intrinsic value that is immutable and permanent. Accordingly, many experts suggest that investors should include it among their investment assets.
2. The commodity markets, specifically the silver market, have outperformed both the stock and bond markets recently and, I believe, will continue to do so. Since 2000 if you would have invested your currency into gold you would have seen a 190% return on your money. If you would have invested your money into silver you would have seen a 240% return on your money. This is an important shift to recognize, yet very few individual investors are aware that this fundamental change in the marketplace has taken.
3. One of the most incredible truths about silver is that up until now, demand has outstripped supply for fifteen straight years. Annual silver supply deficits have run as high as 200 million ounces in boom years, and as low as 70 million ounces in years of recession like we are in now. It is important to realize that even in years of decreased silver demand the mining supply on an annual basis did NOT meet demand. There is nothing more bullish for a commodity than such a deficit condition.
4. There is actually less silver bullion available for investment than gold! This one fact alone should alert any intelligent investor into thinking that some silver must be held as part of one’s precious metals allocation.
5. When people have tangible evidence that something has gone badly wrong with the economy, they begin to hedge against it. They hoard real assets. Rich people hoard gold and silver. Here’s why: When things go wrong economically – when there’s a crisis like we have today – the price of silver goes bananas.
6. The U.S. government is bailing out every business that they deem too big to fail. Giving these Wall Street companies billions of our taxpaying dollars that has to be printed out of thin air because we are bankrupt will lead to inflation and a lot of it. Gold and Silver are a hedge against inflation, which is why they have been rising since the turn of the century and they will continue to rise.
7. The United States is 10 trillion dollars in debt and with unfunded liabilities such as Social Security and Medicare the total U.S. debt is actually 52 trillion dollars. This debt will eventually lead to the dollar weakening and collapsing again while silver will skyrocket to the moon.
So follow Kiyosaki’s advice and invest in precious metals, specifically silver, now. You will be able to build wealth, and retire securely without fear. You may even be able to retire early just like Kiyosaki.
By David Morgan
Excerpt from:
Should You Invest in Silver Now?
“You have to withstand pressure, if you can’t handle pressure you can’t be a great or successful entrepreneur†— Donald Trump
4 Techniques we use to Withstand Pressure.
1. Focus on what you can control. There’s no reason to waste precious energy on things you can’t control.
2. In your mind don’t project into the future the worst case scenario and then worry about it. We all do this and it’s so stupid. Try projecting into the future the end result of what you want and focus on that. Make a mental shift and you’ll feel and attract way better things.
3. Keep moving forward, keep pressing on and Never Quit!!!. I know you’ve heard this before, but what does this really mean? It means get mad, get determined, get razor focused and blow through the obstacles and the solution will reveal itself.
4. Read inspirational success stories of people you admire, you’ll realize that you’re not the only one going through hell right now and there is a light at the end of the tunnel.
We all have high pressure situations in life and the more successful we become the more pressure we’ll have to withstand, it comes with the territory. When my mind starts the slippery slope of worry I remember this quote I once read. “Don’t worry, it will probably never happen†How true it is…
What methods do you use to handle pressure? Please leave a comment below.
Here is the original:
Can you handle the pressure?
