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Financial distress often doesn’t come immediately but rather is a build-up of poor financial decisions that lead to the problem. One of the leading causes is living beyond your means. There are several signs that could indicate you are living beyond your means and early recognition can often help you avoid a financial disaster.
We have all heard them, those sage financial sound bytes that seem so powerful and useful. However, upon deeper reflection, they can often be very difficult to interpret and more importantly hard to use in everyday life. However, if you decode the try meaning of these sayings, you might find useful ways to improve your financial situation.
Unless you have filed an extension, everyone’s personal tax returns were due April 15th. So this makes now a great time to assess your tax situation so you can make adjustments to improve your tax situation for 2015. We really should never just have tax planning on auto pilot. Financial circumstances are always changing and most often, these changes have an impact in our tax situation.
Studies have shown that talking financial matters with your children can help them avoid financial pitfalls in their future. It really is almost never too early to start talking to your kids about the money. And your modeling of responsible financial decision making is a great teaching tool.
Your money and personal information are two areas where being fooled is not funny. Being a victim of fraud or a scam is never pleasant and many unsuspecting people who should know better get caught because they let their guard down and don’t use reason. Scam artist are very talented and work very hard to make all of their scams believable. Arming yourself with a little knowledge and always doing your research are two great ways to avoid being a fraud victim.
Family is one of the strongest bonds - most of us will do anything for our family, especially parents or kids. And it is this strong sense of responsibility that can create havoc to even the best laid retirement plans. There are a few moves you can make to help avoid financial disruption caused by your family especially if your become aware of some of the possible negative outcomes that could be looming in your future.
People have a tendency to make financial matters more complicated than they really need to be. Complicated planning worksheets, detailed budgets and net worth calculations and other financial tools can all become overwhelming. Sometimes, the best way to achieve big goals is to make your plans as simple as possible. Why is keeping is simple so important? It is because you are more likely to follow through if the process is simple and easily repeatable week after week.
This is the time of year that everyone starts thinking about all the ways their current house doesn’t fit their needs. Should you start looking for your next dream home now? Here are a few questions you should consider before deciding the answer.