manage personal finances

Posted by adgag adgadgvadgv on Friday, October 15, 2010






'When I married Donna, I could get both hands around her waist,' said my husband's grandfather. Pointing at his full-figured wife, he boasted, 'Now look how much I got. That's what I call an investment!' — Katherine Eby, via Reader's Digest.com


In essence, that funny anecdote is right. Of course it doesn't sound very flattering to Katherine's grandmother-in-law, but that's exactly what investment is all about: making sure that your accounts and net worth grow bigger over time.


Investment is that exercise of putting money in a financial account, in your business, in a friend's business, or even in some other companies' business, for the pursuit of growing one's money. Investment is an effort to get one's money to "grow."


Investment works on the principle of "compounded interest." Interest that is added to your principal, or initial investment, itself gets to earn interest. So if you've initially invested $200, at the interest rate of 2.5%, at the maturity term of one month, you'll be earning $5 at the end of that month. If you renew the term of your money, your $205 will then earn $5.13 ($5.125) when another month is over. Certificates of deposit accounts or time deposits work exactly like this.


On the other hand, mutual funds work on the principle of snowballed profits. Mutual funds are as good as stocks and bonds, only you don't manage them yourself. Rather, trained financial experts are hired to manage your money. To invest in mutual funds, you can look into a broker that charges low commissions and check out their offerings.


Basic Tips For Investing In A Business


Investments could also mean those things you purchase or put money in, in order to further your business. Most people take additional studies in order to get the credentials needed to help them advance in their chosen careers. Other people invest in machinery, gadgets and equipment in order to make their lives easier. Then, most businesses invest in people which make up their workforce — their much-needed manpower.


Here are three informal rules of thumb by which you can measure your investments and purchases:


If navigating the murky waters of credit scores and debt leaves you scratching your head and wishing someone would just tell you what to do, you’re in luck. Credit Sesame is a new startup launching in private beta today at TechCrunch Disrupt that’s looking to help do just that — give the site access to your financial data, and it will present you with a handful of options, along with bulletpoints explaining why they work for you. If you’d like to try the site out for yourself, head to CreditSesame.com/TechCrunch and use the password OpenSesame.


Credit Sesame doesn’t take long to set up — the company says it takes a couple of minutes — but it does require sensitive information including your social security number (which the site needs in order to access your credit history). That may make some users wary, but the site is aware of potential privacy and security issues, and has a FAQ that talks about how it protects your data here.


Once you’ve entered your information, the site will visualize key data like your credit and debt (it’s clearly taking some design cues from BillShrink and Mint’s pretty graphs). It will also offer recommendations for how you can save money — the company says it analyzes thousands of financial products to determine which are the best fit for each user, and Credit Sesame says it saves an average home owner up to $600 per month. Proposals are based on pre-qualified loans, and Credit Sesame says that it uses the “same pricing engine that top banks use” to find those products.



Q&A:

GT: I get consume value proposition. How are you going to compete with and what’s your advantage vs. Mint, BillShrink, etc.

A: Companies out there like Mint do a great job helping with finances. But what really helps.. most companies lack ingredients. One is consumer intelligence. Second is product intelligence. Our core competence is product intelligence. Analytics that brings it all together.


SP: I think it’s well designed. Hard to get distribution. Broader questions that founders here need to ask themselves: why am I founding a company in the first place. Might be that you want financial independence, build lifestyle business. Third reason which is bad: you think you’ve spent your career in Silicon Valley and highest level status is to be a founder. The founders who fall into first two categories, sometimes lifestyle businesses become incredible industries. Founders see a problem that desperately needs solving. Third class doesn’t usually succeed. I think everyone needs to ask which they are. Not saying you guys are the third.

A: I’m a serial entrepreneur. I sold to a lot of banks and had a good exit. I noticed that banks are great, but their objectives aren’t aligned with consumer’s best interest. When consumers go to a lot branches, they want to know if they should be worried, if there is something they should do different. And the answers they get aren’t sufficient.


VR: What is the user experience. How much info do I need to give to get started. WIth recommendations, how hard is it to do those?

A: Takes two minutes, answer 5-6 questions. Once you enter information we aggregate everything. We refresh that data for you. Our system knows enough about the client/market that if an opportunity arises we’ll present the option and the system can do it for them.


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<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


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'When I married Donna, I could get both hands around her waist,' said my husband's grandfather. Pointing at his full-figured wife, he boasted, 'Now look how much I got. That's what I call an investment!' — Katherine Eby, via Reader's Digest.com


In essence, that funny anecdote is right. Of course it doesn't sound very flattering to Katherine's grandmother-in-law, but that's exactly what investment is all about: making sure that your accounts and net worth grow bigger over time.


Investment is that exercise of putting money in a financial account, in your business, in a friend's business, or even in some other companies' business, for the pursuit of growing one's money. Investment is an effort to get one's money to "grow."


Investment works on the principle of "compounded interest." Interest that is added to your principal, or initial investment, itself gets to earn interest. So if you've initially invested $200, at the interest rate of 2.5%, at the maturity term of one month, you'll be earning $5 at the end of that month. If you renew the term of your money, your $205 will then earn $5.13 ($5.125) when another month is over. Certificates of deposit accounts or time deposits work exactly like this.


On the other hand, mutual funds work on the principle of snowballed profits. Mutual funds are as good as stocks and bonds, only you don't manage them yourself. Rather, trained financial experts are hired to manage your money. To invest in mutual funds, you can look into a broker that charges low commissions and check out their offerings.


Basic Tips For Investing In A Business


Investments could also mean those things you purchase or put money in, in order to further your business. Most people take additional studies in order to get the credentials needed to help them advance in their chosen careers. Other people invest in machinery, gadgets and equipment in order to make their lives easier. Then, most businesses invest in people which make up their workforce — their much-needed manpower.


Here are three informal rules of thumb by which you can measure your investments and purchases:


If navigating the murky waters of credit scores and debt leaves you scratching your head and wishing someone would just tell you what to do, you’re in luck. Credit Sesame is a new startup launching in private beta today at TechCrunch Disrupt that’s looking to help do just that — give the site access to your financial data, and it will present you with a handful of options, along with bulletpoints explaining why they work for you. If you’d like to try the site out for yourself, head to CreditSesame.com/TechCrunch and use the password OpenSesame.


Credit Sesame doesn’t take long to set up — the company says it takes a couple of minutes — but it does require sensitive information including your social security number (which the site needs in order to access your credit history). That may make some users wary, but the site is aware of potential privacy and security issues, and has a FAQ that talks about how it protects your data here.


Once you’ve entered your information, the site will visualize key data like your credit and debt (it’s clearly taking some design cues from BillShrink and Mint’s pretty graphs). It will also offer recommendations for how you can save money — the company says it analyzes thousands of financial products to determine which are the best fit for each user, and Credit Sesame says it saves an average home owner up to $600 per month. Proposals are based on pre-qualified loans, and Credit Sesame says that it uses the “same pricing engine that top banks use” to find those products.



Q&A:

GT: I get consume value proposition. How are you going to compete with and what’s your advantage vs. Mint, BillShrink, etc.

A: Companies out there like Mint do a great job helping with finances. But what really helps.. most companies lack ingredients. One is consumer intelligence. Second is product intelligence. Our core competence is product intelligence. Analytics that brings it all together.


SP: I think it’s well designed. Hard to get distribution. Broader questions that founders here need to ask themselves: why am I founding a company in the first place. Might be that you want financial independence, build lifestyle business. Third reason which is bad: you think you’ve spent your career in Silicon Valley and highest level status is to be a founder. The founders who fall into first two categories, sometimes lifestyle businesses become incredible industries. Founders see a problem that desperately needs solving. Third class doesn’t usually succeed. I think everyone needs to ask which they are. Not saying you guys are the third.

A: I’m a serial entrepreneur. I sold to a lot of banks and had a good exit. I noticed that banks are great, but their objectives aren’t aligned with consumer’s best interest. When consumers go to a lot branches, they want to know if they should be worried, if there is something they should do different. And the answers they get aren’t sufficient.


VR: What is the user experience. How much info do I need to give to get started. WIth recommendations, how hard is it to do those?

A: Takes two minutes, answer 5-6 questions. Once you enter information we aggregate everything. We refresh that data for you. Our system knows enough about the client/market that if an opportunity arises we’ll present the option and the system can do it for them.


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<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


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MABUHAY ALLIANCE HOST THE 6TH ANNUAL ECONOMIC DEVELOPMENT CONFERENCE by mabuhayalliance


benchcraft company scam

<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


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'When I married Donna, I could get both hands around her waist,' said my husband's grandfather. Pointing at his full-figured wife, he boasted, 'Now look how much I got. That's what I call an investment!' — Katherine Eby, via Reader's Digest.com


In essence, that funny anecdote is right. Of course it doesn't sound very flattering to Katherine's grandmother-in-law, but that's exactly what investment is all about: making sure that your accounts and net worth grow bigger over time.


Investment is that exercise of putting money in a financial account, in your business, in a friend's business, or even in some other companies' business, for the pursuit of growing one's money. Investment is an effort to get one's money to "grow."


Investment works on the principle of "compounded interest." Interest that is added to your principal, or initial investment, itself gets to earn interest. So if you've initially invested $200, at the interest rate of 2.5%, at the maturity term of one month, you'll be earning $5 at the end of that month. If you renew the term of your money, your $205 will then earn $5.13 ($5.125) when another month is over. Certificates of deposit accounts or time deposits work exactly like this.


On the other hand, mutual funds work on the principle of snowballed profits. Mutual funds are as good as stocks and bonds, only you don't manage them yourself. Rather, trained financial experts are hired to manage your money. To invest in mutual funds, you can look into a broker that charges low commissions and check out their offerings.


Basic Tips For Investing In A Business


Investments could also mean those things you purchase or put money in, in order to further your business. Most people take additional studies in order to get the credentials needed to help them advance in their chosen careers. Other people invest in machinery, gadgets and equipment in order to make their lives easier. Then, most businesses invest in people which make up their workforce — their much-needed manpower.


Here are three informal rules of thumb by which you can measure your investments and purchases:


If navigating the murky waters of credit scores and debt leaves you scratching your head and wishing someone would just tell you what to do, you’re in luck. Credit Sesame is a new startup launching in private beta today at TechCrunch Disrupt that’s looking to help do just that — give the site access to your financial data, and it will present you with a handful of options, along with bulletpoints explaining why they work for you. If you’d like to try the site out for yourself, head to CreditSesame.com/TechCrunch and use the password OpenSesame.


Credit Sesame doesn’t take long to set up — the company says it takes a couple of minutes — but it does require sensitive information including your social security number (which the site needs in order to access your credit history). That may make some users wary, but the site is aware of potential privacy and security issues, and has a FAQ that talks about how it protects your data here.


Once you’ve entered your information, the site will visualize key data like your credit and debt (it’s clearly taking some design cues from BillShrink and Mint’s pretty graphs). It will also offer recommendations for how you can save money — the company says it analyzes thousands of financial products to determine which are the best fit for each user, and Credit Sesame says it saves an average home owner up to $600 per month. Proposals are based on pre-qualified loans, and Credit Sesame says that it uses the “same pricing engine that top banks use” to find those products.



Q&A:

GT: I get consume value proposition. How are you going to compete with and what’s your advantage vs. Mint, BillShrink, etc.

A: Companies out there like Mint do a great job helping with finances. But what really helps.. most companies lack ingredients. One is consumer intelligence. Second is product intelligence. Our core competence is product intelligence. Analytics that brings it all together.


SP: I think it’s well designed. Hard to get distribution. Broader questions that founders here need to ask themselves: why am I founding a company in the first place. Might be that you want financial independence, build lifestyle business. Third reason which is bad: you think you’ve spent your career in Silicon Valley and highest level status is to be a founder. The founders who fall into first two categories, sometimes lifestyle businesses become incredible industries. Founders see a problem that desperately needs solving. Third class doesn’t usually succeed. I think everyone needs to ask which they are. Not saying you guys are the third.

A: I’m a serial entrepreneur. I sold to a lot of banks and had a good exit. I noticed that banks are great, but their objectives aren’t aligned with consumer’s best interest. When consumers go to a lot branches, they want to know if they should be worried, if there is something they should do different. And the answers they get aren’t sufficient.


VR: What is the user experience. How much info do I need to give to get started. WIth recommendations, how hard is it to do those?

A: Takes two minutes, answer 5-6 questions. Once you enter information we aggregate everything. We refresh that data for you. Our system knows enough about the client/market that if an opportunity arises we’ll present the option and the system can do it for them.


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MABUHAY ALLIANCE HOST THE 6TH ANNUAL ECONOMIC DEVELOPMENT CONFERENCE by mabuhayalliance


bench craft company reviews

<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


benchcraft company portland or

MABUHAY ALLIANCE HOST THE 6TH ANNUAL ECONOMIC DEVELOPMENT CONFERENCE by mabuhayalliance


bench craft company reviews

<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


benchcraft company portland or

<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


benchcraft company portland or

<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


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bench craft company reviews

MABUHAY ALLIANCE HOST THE 6TH ANNUAL ECONOMIC DEVELOPMENT CONFERENCE by mabuhayalliance


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benchcraft company scam

<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


bench craft company reviews

An effort to help teens manage their money is truly challenging. Consider this analogy in terms of teens managing their money: You're the government, and your teens are huge Wall Street firms. The government says it has no choice but to bail out the Wall Street firms, "because they are too big to fail." Your teens may say that you have no choice but to bail them out, "because you love them so much."

This leads to your first step as a parent helping teens to manage their money: You can't let them put a guilt trip on you.

Your task is difficult because corporations are targeting this generation's teens like never before, which leads to peer pressure running amok. The precursor during the 1980s was name-brand sneakers. Nowadays, you will see "teens manage their money" by matching a peer's iPod, and if they have earned their own money, it can be hard to argue with them. But then, they'll be broke and ask you for a $20-spot (or more) to go out on a date.

As you can imagine, the web contains no shortage of tips for how to help teens manage their money. The vast majority are well and good. For example, teens should save a certain percentage, teens should write down spending priorities, teens should keep and review a log of their spending, and so forth.

We wish in this article to offer a Big Idea that is unique, not as an alternative to the standard strategies for helping teens to manage their money, but as a complement.

The Big Idea is, share your own personal finances with your teens. It doesn't occur to most parents to do this, but this concept will bring some understanding and even some humility to all but the most materialistic and selfish teens.

Start with your family income. There's no reason for it to be a big secret. Next, outline your taxes to arrive at post-tax income. Then get into all of the monthly payments: The mortgage, if you still have one. The utility bill. The grocery bill. Health insurance, if you aren't covered at work, or co-pay, if you are covered. Car payments, if you still have them. Gasoline, not just for the car, but for the lawnmower; in other words, include everything.

Hopefully, there will be more incentive for teens to manage their money after they see what you go through, day by day by day.

Advice for your teens to open their own bank accounts is solid. In fact, this step can be taken way back in the elementary grades. A newer issue that you will confront is whether to help your teens obtain a special checking account and/or credit card for high school students, with your name jointly listed.

We'll let you decide the pros and cons. A national survey indicates that about 10 percent of teens carry credit cards, and 30 percent have checking accounts. We mention this just in case you choose to take a "con" position and your teens respond, "Aw, c'mon, everybody has one." Not true. FYI.

SOURCES

http://parentingteens.suite101.com/article.cfm/helping_teens_manage_money

http://www.creditloan.com/credit-cards-becoming-popular-among-teenagers.html

http://www.ehow.com/how_4848714_teach-teenagers-manage-money.html?ref=fuel&utm_source=yahoo&utm_medium=ssp&utm_campaign=yssp_art

http://www.ehow.com/how_5287780_teach-teenager-manage-money.html?ref=fuel&utm_source=yahoo&utm_medium=ssp&utm_campaign=yssp_art


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<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


big seminar 14

<b>News</b> - Angelina Jolie to Critics: &quot;Hold Judgment&quot; Until You Have <b>...</b>

She fires back at reports that her directorial debut centers on a rape victim who falls for her captor.

<b>News</b> Corp. Could Buy Yahoo

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Thinking Anglicans: Ordinariate <b>news</b>

Ordinariate news. According to the Catholic Herald Bishop of Fulham to take up Ordinariate. The Anglican bishop of Fulham and the chairman of Forward in Faith International has announced he will resign before the end of the year to join ...


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