Creating a budget can be a very difficult task. Although we as consumers know that we need to pay our bills, buy our necessities, and put money away for savings, we don’t really know how to start.
With interest rates being at an all-time low, I can understand the urgency for people wanting to purchase a home. But I caution the first-time home buyer to learn how to budget their money before buying a new home.
Many newlywed couples want to know how to combine their incomes as a unit, yet still be able to keep their individual spending habits without hurting the family budget. In this article I introduce to my clients how to use a simple "budget to income" method to keep things clear, fair, and easy. Most newlyweds find this solution to be a fantastic compromise.
Women are living in a fairytale when it comes to their money. They are waiting on "Prince Charming" to take care of them financially even in some cases when the woman makes more money than her male counterpart. This way of thinking for women must stop, especially when divorce rates are at an all time high, women are out living their spouse, and people are out living their money.
Have you stopped to realize that although you go to school to learn about important subjects, no one teaches you how to manage your money? Money is an essential part of life in our pursuit of happiness, yet very rarely will a parent sit down and tech their child how to handle their money.
As we cheer for our new graduates and send them off into this great economic world of ours the question remains, "have we prepared them for the financial responsibilities they will encounter with money?"
