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5 Must Required Money Practices for Every Person

Article by Sherin Dev; Follow me on Twitter

As you aware, new-years are always the time for people to set new resolutions. Generally at the end of year, most of such pre-set resolutions face failures. Why such failure happening to the resolutions? Normally, due to the impracticality of resolutions or not giving enough attention after set the same. Success of resolutions depends on how much it can influence one and how important it is to the daily life. When turn to finance for life, of course, it has tremendous influence to our daily life. In that context, here are five must required money practices by every person to make the life successful and peaceful. If you still have not set a proper New Year resolution for this 2010, have a look on below to select and set any or all from it as your resolutions.

1. Create Fail proof Monthly Budget Planner

What it really means? Budgeting used to understand your cash inflows and outflows. It is a best practice to identify the source of money and where it is going and how. Through budgeting, one would get real controls on his money and helps to live inside the capacity. It also helps to identify unnecessary spending.

How to move for this? Creation of budgeting required dedication and discipline. Budgeting generally doesn’t have a prescribed format but, the person who prepares his or family budget should prepare his own methods to identify the income and expenses. Little search on internet present you with lots of excel forms to compile and create your own budget planner in a better and successful way.

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7 Legitimate Ways to Get Out of Debt

Editor's Note: This is a guest article by Tom Tessin from FindSecuredCards

Getting out of debt isn’t the hardest thing to do and as long as you have motivation and you don’t fall for stupid and silly traps, you will be just fine. What you’re going to find out when you’re trying to get out of debt is that you’re going to be desperate. This isn’t the path you want to take. Instead, you will want to sit back, take a deep breath, and relax.

Let me show you 8 legitimate steps that you can take in order to get out of debt.

#1 Start working with the credit card companies – When I say this, I don’t literally mean work for them, but rather call them up, and ask them to cut your interest rate down. Even if they cut it down by 1%, this can save you hundreds, if not thousands. A simple phone call can save you, trust me.

#2 Get on a budget – If you don’t know where your money is going month to month, I want you to start a budget right now. What you’re going to want to do is write down every bill that you’re paying on a monthly basis. Whatever you have left over at the end of the month, put it toward debt!

#3 Cut back on things – You don’t need Starbucks, you don’t need 800 cable channels, and you don’t need a gardener to pick your weeds. Do you get my point here? Get rid of the luxuries that you can’t afford. This isn’t about image anymore.

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Plan to Build a New Home? Here is Your Master Check List

Article written by Sherin Dev; Follow me on Twitter

You might have decided to build a home. You may have a plan in your mind about how your dream home will be. But, is that all sufficient to build a perfect home? Building an own home is a rare chance the not get to everybody. Once you get that chance, remember lots of planning, efforts and pain involved to that. If not planned well, you may not be able to build your new home in a perfect way. Perfect planning would ensure you have not missed anything and your home has all required features and facilities to stand different from other homes. Here is a master checklist to plan your new home in a better way. I am sure, you will enjoy reading this list and it would help you a lot.

As usual, building of a new home starts from preparation of a master plan. Your master plan should include plans for everything from the beginning to end. Of course, lots of effort and time required to construct a good master plan. However, this master list prepared to help you to ease these tasks. This list have been prepared from self experience, references, ideas and advice from others who already build a home and enjoying it or suffering issues of lack of pre-plan.

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Create a Powerful Personal Investment Strategy - A Working Example

Article written by Sherin Dev; Follow me on Twitter

Is it possible by any person to build a winning stock investment strategy for self? Yes. Anyone can do such. If you take the words from the experiences of great value investors, you may know the requirement of formulating our own intellectual framework to have a perfect and simple stock investing strategy to win as a stock investor. The very first step any direct stock investor must do is the requirements of building to have their own stock investing strategy than duplicating others. This would help him to avoid serious mistakes and even small mistakes too.

Whenever building your own investing strategy, lots of points to have taken care. This is to confirm your decision is perfect by going one by one to the points. Here is some investing strategy I have practiced and flowing till today. You can take a look to build your own one. Remember, any advanced knowledge on anything including accounting, is not required to win with stock investing. Once if you have heard such skills required, it is just a myth. Have a look on my own strategies to identify, valuate and invest on a particular stock.

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Is Debt Settlement an Answer to Your Financial Troubles?

Uh-oh! Looks like the page you were looking for is gone! Have no fear, You might be looking for one of these pages:

* Homepage

* The Goodies

* A Guided Tour

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How to Teach Your Child about Financial Responsibility

Post compiled from collections; Follow MoneyHacker on Twitter

Teaching your children financial responsibility is one of the greatest things that you can do as a parent to prepare them for their lives as adults. Nurturing a child emotionally is also vitally important, but to turn a child out into the world with little or no knowledge of basic finances has the potential to be a true disaster. Read on to find some basic tips on raising a financially responsible child.

When teaching a child about financial responsibility, parents should have extreme self-discipline. At the very first and as the start-up, examine your own attitudes and habits about money. As most experts say "Kids are great imitators" so the best and most effective way to teach kids about anything is by becoming the role model. If you want your kids to learn how to save money, you should show him how you do it. As another saying goes "action speaks louder than words". If you are a parent with no discipline on spending money or repeatedly waste money, that's what your kids are going to learn.

This article intends to the kids with an age between 3 and 12 years.

- Start speaking to your kid about money and its worth. Start it at the earliest from an age of 3 which is highly ideal for this. Begin teaching the first principal of wise money management by counting coins. Let the kids start learns about money by holding coins, counting coins and recognizing the differences between each one. Present them a piggy bank and give coins regularly to put into that. Later, they can have a great time counting coins and dropping each one in their very own piggy bank.

- Teach your kid how money is being used. Discuss the expenses you have for your household to your kid and show your kid the bills you need to pay with money. This is the best time to explain to your kid why you can't always buy the toys he/she wanted.

- Present opportunities to earn. All kids need a little jingle in their pocket. That's the purpose of allowance. Allowances can be tied to chores or as some parents prefer, allowances are considered to be a base salary. Whatever allowance system you subscribe to, it's a good idea to include opportunities to earn additional money as well. For example, a surprise bonus rewarding a good attitude, a job well done or special effort being made is a powerful motivator.

- When you choose to give pocket money as a reward, remember that the rules must be understood by everyone involved. Kids must understand how much you give and for what. If your child can read, make a list of the chores with their matching reward amount. If your child is younger, draw pictures or cut them from a magazine and draw circles to represent the coins they will get for each task. Having an understanding will prevent bargaining and allow both parents to handle the situation in the same way.

- Teach the art of spending. Deciding how much and how to spend the money and on what is definitely an art worth practicing. Teach the good practice of convince themselves that buying something they don't need on sale is saving. The art of spending is defining what you need, recognizing the pleasure of buying something very special and then looking for the exact item that fits the bill.

- The first time your young kids ask you for a loan, be happy, because now you can teach them about savings. Only when kids want something beyond their financial means can you explain why saving money is a good idea. Teach them to always put 10% of their money aside. At a young age, they will not understand what 10% is but tell them it is a tiny piggy bank in the piggy bank of money you keep there for emergency. This is the money you keep for something big or special that you want later. Tell them to put 1 out of every 10 coins in the tiny piggy bank. Saving is a good lesson in waiting, something that is hard for young kids, because their perception of time is not fully formed.

As the child's earnings grow, he will learn not only math skills, but life skills as well. He will learn the value of money; that money is earned through hard work and daily effort. Some parents may opt to exchange the play money earned for actual money later down the road. For our children, they often asked us to buy something each time we went to the store. The "job duty" project has minimized their requests because the responsibility now falls upon their shoulders. The money they earn is used to purchase something they want. On some occasions, our children will get to the store only to see something different than what we went to the store to purchase. Usually this new found item costs more money than what has been saved. At this point, our children need to decide if they will buy what they planned or if they will return home empty handed so they can save more money to purchase the more expensive item. What a great life lesson to be learned!

As I mentioned at the beginning, this article suitable to kids between the age of 3 years and 12 years. Next article would discuss how to bring your teenagers with financial responsibility. Keep visit.

Image courtesy: goddess of chocolate

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How to Select a Good Financial Advisor

Article written by Sherin Dev; Follow me in Twitter or Facebook . To get latest news and articles Subscribe for free!

Selection of a financial advisor is a critical step to get right advice at right time to manage your money in a better and successful way. Through, it is considerably difficult to identify a good financial advisor. There are some important factors should come under your scrutiny to identify whether the financial planner has right qualities to manage your hard earned money or not. Good understanding on the required qualities would highly help you to select a right advisor to manage your money. What are those points for your consideration? This article would definitely help you to analyze the qualities of advisor you meet.

I have already published an article under the title of "Top 10 Qualities required by a good financial advisor" some time back. Though, it is a well tuned, revised edition of the same to help the readers to choose good financial planners easily. At the start up, I would remind you an important quality required by good financial advisors or financial planners. Advisors who consider and act on customer issues and manage investment portfolios as his own have better chances to perform in an excellent way than who consider himself and customer as different entity.

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How to Secure Childs Finance and Investment Portfolio

Article by Sherin Dev; Follow me on Twitter

Financial Planning for kids are necessary for parents. It is very easy to say but, not so easy to make practical. Such planning should start at the earliest, immediately the kid born. Requirements like time, investment planning, identifying money sources for investments all are vital part when child financial planning in picture. Goal settings, investments, protecting future life, all are required to complete through proper, fail proof planning. Today, we will have a short discussion on how a parent can plan the finance for their kids. We would certainly start from initial requirements of setting the goal followed by the actions required to achieve the goals. some of the best investment combinations also would be identified and discussed with this topic.

Like any other planning, 'goal settings' has ultimate importance into child financial planning. One should well clear about the goals to achieve through planning finance for their kids. This goal can be higher education, marriage or any others. It would be noted properly and the required amount should be decided in advance. When deciding such amounts, inflation adjustments should be considered in a reasonable manner. When planning finance for kids, goals to achieve generally have duration of 18 to 25 years. If a parent required $1 lac today for the higher education for their child, this amount could increase to 7 or 8 lacs after 18 years. Any investments must be chosen by considering these unavoidable facts.

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Important Insurance Thoughts for Young Subscribers

Article by Sherin Dev; Follow me on Twitter

Getting good knowledge on insurance is a must for all to live in a better way. No one in this world generally exempts from insurance. One or other way, all of us have policies. There are 'n' number of policies available today. Of course, a person not required to subscribe all the policies than required one but, whenever subscribing the required insurance, keep the following thoughts in mind to tune your policy in a better, structured way and to take maximum benefit from it.

Before moving to the points, I like to introduce some of the important insurance plans to fresh up your mind. Starting with traditional policies we are going through term plans, child insurance plans, motor insurance, unit linked policies, retirement plans, mediclaim policies. These are considered as the most famous policies today. Now will take look on the important areas to care off with each these plans.

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Hidden Intentions Behind Stock Buy and Sell recommendations

Article by Sherin Dev; Follow me on Twitter

Turn the pages of business dailies and magazines. You may find lots of stock buy and sell recommendations in most of the pages. More over this, if your email registered with any business websites, you will start getting constant recommendation mails to your inbox regarding buy and sell stocks. Beginner investors generally become the victims of this style. As I have written earlier, stock recommendations generally happening for traders, a kind of gamblers, than real investors. Real investors generally never mind such mails but do their own research to identify right stocks to purchase or sell.

I don't believe stock analysts reports and tipsters recommendations in any way. If you dig to the history of stock market scams, you may find the stock recommendations happened before to the scam identified. What would be the possible intentions to such recommendations? If you are new to the stock market investing line, this article may help you to understand some of the background plays of this activity.

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