Have You Discussed Your Finances as a Family

Finances and family are important because finances is one of the biggest contributors to couples getting a divorce and is one the main reasons couples and families fight. Good money management habits help you prepare for the future, ends fights, reduces stress, and makes your life more enjoyable. The easiest way is to save money or anything you buy or own, comparison shop to find the best deals. Some ways to have good money management skills are: create a budget, begin saving, reduce debt, and educate yourself.

Every family member has to work together to develop a plan to handle their finances, individually and as a family. Families always think they need more money, but they really only need more discipline. Discipline will help them achieve goals so that when their get more money they manage it well and make it last longer.

Effective money management is solely based on how a family spends their money and lives their lives. Money management should include setting short and long-term financial goals. Families should plan for their future such as retirement, college for the kids, purchasing a home, etc. Many times families are so consumed with living day to day or paycheck to paycheck they can't worry about their future but that is the main reason families stay stuck in the same rut. Here are 5 ways to better manage your family finances.

1. Create a budget - First create a household budget or spending plan that includes involves each family member. A budget will show what you earn, what you spend and what you owe. This will help you see right away what areas you need to reduce expenses and where most of your money is being spent.

Hold family meeting to discuss finances and be honest about your financial situation. Many times parents live above their means just so their children are not aware of their financial situation – this is a "no-no".

If you don't know the exact amount spent on a particular item write down your best estimate. If an item fluctuates and ranges from month to month take the highest amount paid thus far and use that same amount in your budget. Buy items on sale and buy only needs. Buy wants periodically after starting short-term goals.

2. Begin saving - Set financial goals with a specific dollar amount and target date for each goal such as: save $1,000 by December 2012. Take each dollar amount associated with a goal and divide by the number of months to reach the target date. This will show you how much money you need to save each month to reach the goal.

Develop short-term goals that can be achieved in 3 to 12 months. Long-term goals are set and should be achieved over a period of time such as 3 to 5 years. For a family the first goal should be to create an emergency fund.

The emergency fund should be large enough to cover household bills and expenses for 3 to 6 months. This will eliminate fights with your spouse or partner and the children as well as prevent using a credit card for unexpected emergencies. Balance your checkbooks, monthly bank statements and credit card statements with monthly receipts to make sure no errors appear on statements on with your bank accounts.

3. Reduce debt - Create a debt repayment plan to pay off all debts. Set a target date for each debt including interest paid, monthly payment, total amount owed and if any bills are late. Start paying the smallest debt first then work your way up to the largest debt. Use the money paid for one bill and apply towards the second bill and continue this until all debts are paid.

4. Educate yourself - Talk to other families who have been successful in managing their finances or read books on family finances such as Family Finances the Essential Guide for Parents by Ann Douglas, Personal & Family Finance Workbook by Craig Israelsen, America's Cheapest Family Gets You Right on the Money by Steve Economides, Your Military Family Network by Military Family Network.

5. Plan for the future – make sure you have health, life and disability insurance. If your job doesn't offer these develop a plan so you can afford to buy them to protect you and your family if a tragic event occurs that affects your finances.

Budgets should be revised often when a specific event occurs such as: promotion, raise, additional recurring expenses, birth of a child, marriage, divorce, etc. Compare your budget with the financial goals set to ensure everyone is on track to meeting the goals.

Should Christians Be in Debt

Did you ever wonder why a negative item has to stay on your credit report for 7 years? No one was able to give an answer other than what is stated in the Fair Credit Reporting Act (FCRA). I always wondered what the answer was myself but was never satisfied just knowing that someone decided to use the magic number 7. Upon research I found out why creditors, banks and other companies you do business with keep an item on your credit report for 7 years.

Deuteronomy 15:1

[The Year for Canceling Debts] At the end of every seven years you must cancel debts.

Negative items on your credit report are the result of not paying a debt. The recession had a long-lasting effect on Americans. Many Americans still have not changed their spending habits. Many people are allowing fear to cause them to make hasty decisions. Don’t let fear cause you to make a decision you will regret in the future. If something sounds too good to be true or requires you to pay money to receive a service that usually is free - don’t pay for it. You can’t have faith and be fearful.
Isaiah 41:13

For I am the Lord, your God, who takes hold of your right hand and says to you, Do not fear; I will help you.

If you owe debt you should pay it off. It will maintain your relationship with your creditors, stop harassing creditor calls, increase your credit score and reduce stress. It will also help you to align yourself with God. You can’t focus on the things of God when you are stressed out about your finances and being in debt. To pay back debt and stay out of debt you have to change the way you think about money. Money is a tool that can either be used to generate debt or to generate wealth. Taken from the bible:

Proverbs 13:22

A good man leaveth an inheritance to his children's children, and the wealth of the sinner is paid up for the just.

Think outside the box and think of creative and unique ways for getting out of debt. Thinking out the box will require great commitment, determination and sacrifice. One way to think about the box to get out of debt and stay out of debt is the follow the Voluntary Simplicity movement which states that you don’t buy anything new other than basic necessities such as food and clothing. Shelter is a basic necessity but doesn’t mean you should buy a home you really can’t afford or a home that has more rooms than you will use. It means examining every aspect of your life to determine what is most important and eliminating everything else.

Many entrepreneurs started their businesses by living below their means or spending less than they earned. They understood the importance of sacrifice which allowed them achieve their goals. Here are 8 ways to get out of debt.

1. Tithe. Once you align yourself financially with God by tithing, you will find it easier to get out of debt and plan for retirement as referenced in Malachi 3:8.

2. Pay in full. Pay the balance in full each month prior to the due date or as soon as you receive the bill which helps to avoid paying finance charges.

3. Pay more than once. You can send in payments multiple times a month. You can pay half of the bill balance with 1st paycheck of the month then pay the remaining balance with 2nd paycheck of the month. Pay weekly instead of monthly. Pay the minimum monthly payment the first week after you get the bill, and then each week pay as much as you can toward the monthly balance and repeat every month. You can also pay as much as you can when you get the bill, and then pay more towards the bill when you get extra money.

4. Avoid late fees. Pay your bills on time. If you are unable to make a payment, contact the creditor right away to setup a payment plan or make other arrangements. Contact your local post office to find out how long it takes your payment to arrive by mail.

5. Negotiate. Contact the company to negotiate a lower interest rate, get fees waived or change terms if your account is in good standing.

6. Pay more than minimum. If pay the minimum monthly payment you will end up paying 2 to 3 times the cost of the item you purchased due to finance charges that accrue on the balance. Send more than the minimum monthly payment each month. If your finance charges are less than your minimum monthly payment your balance will go down faster.

7. Spend less than you earn. Buy needs vs. wants, control your spending, don't buy in excess or more than you need, keep debt (excluding mortgage or rent) at 15% or less of your total monthly income (after taxes). Reduce expenses by bringing your lunch to work, taking public transportation, shopping at wholesale stores and downsizing. Delay buying the things you want until you have the money to purchase them.

8. Pay with cash. Use credit cards for emergencies only. Use cash to pay for purchases.

Do You Have Swipe-itis

Do you use your check card/debit card to make all of your purchases? Have you stopped carrying cash? Do you feel lost without your debit card? You are not alone. There are over 520 million debit cards in use in the United States. Most of them are Visa and MasterCard debit cards.

It can be difficult to resist the temptation of the instant gratification culture of America. Advertisers make it easy for consumers to get everything instantly by creating online shopping, instant cereal, instant coffee, instant meals, instant messaging, and debit card purchases at most stores and businesses. Most Americans who have a debit card buy an item immediately when they see it either in a store or online. This bad habit has caused many Americans to overdraw their account, pay overdraft fees, spend more money than they have, damage their relationship with their bank and may lower their credit score.

No matter what form of payment you use you have to keep track of your spending. You should track your spending weekly if you frequently use a check card. This will help to see where you are spending your money and will help you to recognize errors or identity theft quickly. When you see where you are spending your money it is easier to reduce spending and make better choices when making purchases.

There are advantages and disadvantages to using a check card. Some advantages of using a debit card: it is easier to obtain versus a credit card, can be used in place of checks, accepted everywhere, transactions can be made quicker and can be used to get cash from an ATM or retail store that offers cash-back during a purchase. The disadvantages of using a debit card are: you can spend more than you have in your account; you can incur overdraft fees and can become a victim of identity theft. Here a 9 ways to stop swipeitis:

1. Pay your bills first. Put a portion of any extra money left over in a savings account.
2. Alternate payment. Use other forms of payments such as cash when making a purchase.
3. Get a receipt. Get a receipt each time you make a purchase and keep it.
4. Track spending. Take all of your receipts from your debit card purchases and put them in an envelope. At the end of each week add up the receipts to see how much you spent. Use pen and paper, an Excel spreadsheet or Mint.com to enter the data. You can import bank account transactions to your Mint.com account to simplify the process of tracking your spending.
5. Wait. Wait a few days before making a purchase that is more than $100. Go back to the store to see if you still want the item. If you still want the item, comparison shop to see which store offers the best price.
6. Retail therapy. Avoid shopping when you are emotional. This will prevent you from spending more than you have or buying unnecessary items.
7. Create a budget. Create a budget to track your spending daily or weekly. Set aside a specific amount for extra things you want. One reach that amount don’t spend anymore.
8. Leave at home. Leave your debit card at home unless you know you will make a purchase. This helps to reduce the temptation to make an unnecessary purchase.
9. Get cash. Go to the bank and take out the amount of cash you need for the week. Once you spend that amount don’t get out any more money or use your debit card unless it is an emergency.

Grants Vs. Loans - What Are The Loans?

With all the different ways to pay for college, the terminology can be a bit confusing. When it comes to grants vs. loans will always win because you do not have to repay them. Loans to the other side must be repaid, but it will not start before finishing school.

Loans come in many different forms, but the unifying factor is that you have to repay them. Unlike grants, scholarships and work-study money, the loan you borrow money and must repay the same way you pay off a car loan or mortgage. There are some features to student loans, making them somewhat easier to repay loans that standard. First, while you are enrolled as full-time student, you will not have to worry about making loan payments. When you graduate, you will have six months to get a job and get settled before your loan at maturity.

The following function is the amount of your loan can be based on how much you earn. There is an option that allows you to choose a repayment plan in proportion to income, so it will be a percentage of your income instead of a fixed payment based on the standard time-based plans. The direct loan program of the U.S. government representatives also friendly on the phone that will do all they can to help you if ever you fall behind on payments.

Another feature of student loans, which facilitates the recovery process is that if you lose your job or financial difficulties, which allow you to defer the loan or the patience to get back up to standing. Useless to try to borrow the car and get laughed at. Also, if you have multiple student loans to graduate, you can choose to merge into a single loan is easier to follow.

Contributions are always fun to get, because you do not have to pay back. Pell grants are especially nice because there is no need to do anything special for them. You do not have the money or for the Chase, which will automatically use the educational system and any residue is directly deposited into your account.

You should try to avoid getting a loan if you can help it. There are various grants and scholarships so many out there that go unclaimed every year because so many students to accept the student also tried to free money. Even if the government does not provide a decent interest rates and loan repayment options simple repetitions of the loan, and friendly when you call, still can not get to win free money in scholarships and other prizes.

How to Protect Yourself From GPS Identity Theft

According to Proofpoints’ Top 10 Privacy Issues Predictions to 2011 Protection, some of their top 10 privacy issues include mobile GPS location information, social media and breach notification laws. There are currently 46 states that have some sort of breach notification law either passed or before lawmaking bodies.

According to Proofpoint there will be an increase in attacks on social media sites like Facebook and MySpace. Approximately ¼ of all time online is spent on social networks. Social network sites appeal to identity thieves because it takes advantage of our natural disposition to be nice by clicking on link, accepting friend requests from people we don’t know, clicking on advertisements, etc.

Law enforcement officials have warned against leaving valuables in parked cars due to GPS location information breaches. A wallet left in a car glove compartment can lead to identity theft. Thieves break into vehicles to steal a few credit cards but leave the other cards to hide their crime.

A garage-opening remote control can give car thieves easy access to your home. Thieves can get your address from your car registration and/or insurance documents in your glove compartment or from the GPS device itself. Then drive your car to your house and use the remote to open the garage door to enter your house or steal items in your garage. Thieves take your information and buy social security numbers on the internet to open credit card accounts in your name. Several agencies sell personal information to those who do background checks such as private investigators or credit card companies which in some cases gets into the hands of thieves.

Thieves break into cars and use dashboard-mounted GPS devices to learn the owner’s home address to burglarize the home while the owner is inside a restaurant, store or other building. Thieves can also use the GPS to rob your home while you are not there. GPS devices are stolen and sold online or in pawn shops.

GPS devices allow others to track your location without your knowledge including when using GPS on smartphones such as the Blackberry and iPhone. When you take a picture and post it on your social media profile data is linked to it. GPS devices provide location information or data called geotagging which are embedded in file formats such as .jpg, .mov, pictures, videos, etc. The data is not visible to users.

Browser plug-ins or certain software programs such as Twittervision can reveal the location information to anyone who wants to see it. If you load pictures on your computer this information is also stored on your computer. The location information can review your: home address, who created the file, when, where, work address, places you visit often, the time you visited a place, how often you visit, how far away you are from your home, etc. It can also reveal information about appointments with doctors, salons, etc.

Here are 8 ways to protect yourself from GPS identity theft
1. Labels. Users of GPS devices should label their home address as something unfamiliar instead of using “home”.
2. Announcements. Avoid telling everyone on your Facebook status that you are out of town, at a show, at a restaurant, checking in to a place or are not home. Avoid responding to event invites on social media profiles selecting “I’m attending”. Instead select “Maybe”.
3. Detach GPS. Detach your GPS device from the dashboard with the cord and holder when you park your car and carry it with you or hide it in the car but not the glove compartment. It the GPS device leaves a suction mark wipe it before leaving the car.
4. Hide car documentation. A glove compartment is the first place car thieves look for documents with your address. Hide the somewhere else in the car or carry them with you until you get back in the car.
5. Report Thief. If your car is broken into report the theft to your local police station.
6. Assistance. Ask your neighbors to watch your home for any suspicious activity while you’re gone and to contact police immediately if they notice your car or any other car in your driveway when they know you’re not at home.
7. Use Caution when Uploading. Disable geotagging information or applications before uploading pictures. Check your smart phone manual for instructions or do a search on the internet for your type of smart phone.
8. Privacy Settings. Update your privacy settings on your social media profiles by turning off location sharing features. Adjust

Factors To Consider When Looking To Consolidate Student Loans

Family education loan, auto loan and business loan, combined with the stress this enough. Especially when the debt repayment is done, everyone can get out of control. So, before you lose your mind and your family income can read about debt consolidation loan and arranged properly.


The consolidation loan payments are combined they have acquired their families so that payments will be processed in one way or process. For example, if your older brother asked business loan and make your loan private student loan consolidation is to merge these loans and the debt will be as one.




The U.S. Federal Direct Student Loans (FDLP) provides services to consolidate, giving students the freedom to merge their financial support as well as Stafford loans for financial assistance and federal Perkins loans into one. Reducing monthly payments and long-term loan has advantages when the money borrowed is consolidated. He will also have a fixed interest rate (based on the total amount of loans being consolidated and the time that the loan can not exist.


When money is borrowed from the consolidated, borrowers can choose to enjoy the conditions of the loan 10 years to 30 years. However, the Group's loan also has disadvantages. Transition period after graduation and any other request for special attention is not detected when combined with borrowed money from him. So saying, consolidation is not recommended for all types of borrowers.


Students who are married, have the privilege to consolidate their loans together since July 1, 2006. Having a partner to consolidate your borrowed money would only say that each of you share responsibility for the loan. Sometimes, when divorce is marriage, the debt usually suffers. This is why the U.S. Congress considers it necessary for everyone to repeal the provision in the law of the Higher Education Reconciliation of 2005 that allows married students to consolidate their loans.


When you apply for a consolidation loan, banks and finance companies, at the request of the budget at least $ 7,500 total. The federal direct consolidation loan does not require any.


Several alternative plans for debt repayment is made, when combined with borrowed money from him. The total monthly cost is less. In addition, the loan was extended to 12-30 years in the overall cost of debt.


When I think of loan consolidation, it is best to talk with people who had borrowed money from their group before. It also helps that all the studies, the concerns revolve the debtor to bring the benefits of consolidation loan provider and the debtor's financial stability.

Bring In the Financial Reins on Independence Day

This Independence Day resist the temptation to spend money that you don’t have, buy more than you need, or buy something you probably will not use just because it is on sale. Many times items that are on sale are not really a bargain. Do comparison shopping to see if you can find the item for a cheaper price at another store or online. Here are 5 ways to save money shopping this Independence Day:

1. Plan ahead. Don't wait until the day before the holiday to go shopping. Lines at the register are longer and the selection of items is limited. Try shopping a week in advance or early in the morning.
2. Budget. Create a budget or shopping list and only buy the things you absolutely need.
3. Ask for help. If you are having a picnic or cookout ask friends and family to bring a dish to help cut downs on costs.
4. Local shopping. Visit local vendors to purchase meats, fruits and vegetables which will be much cheaper than the grocery store.
5. Resist temptation. Avoid going to the department stores or malls. I know it will be hard but take time out to enjoy being with family and friends. Try finding some free events to attend instead of going shopping. Your wallet will thank you.