Do Millennials Have A Hard Time Becoming Financial Independent?

We live in an age where millenials may have to work longer in their lifetime. Maybe even past the retirement age. There may be a few factors that could be to blame for this. So, is one of those factors millennials themselves? What happens when their parents pass and end up with an inherited IRA? In this article, we are going to discuss some of the few reasons why the financial struggle can be real for millennials and what may happen in the event if they inherit an IRA from one of their parents or both?

Financial Independent

Is There Really Such A Thing As “Financial Independence”?

This is a question that probably doesn’t get asked much. Especially when an adult child has an inherited IRA.  Can anyone who is of the millennial age be financially independent? It may be elusive to a whole lot of them. According to one financial expert, being financial independent can be summed up to one thing, being “self-reliant”. In other words, the income they make to meet their expenses is done by them and only them. Oddly enough, a lot of young people do consider themselves self-reliant.

According to a recent poll involving people ages 25 to 60, they tend share small accounts with family and even friends despite the fact they have the ability to pay their rent or monthly mortgage every month. So, if this isn’t considered financial independence, then what’s the correct term for it? How about financial “co-dependence”? That sounds about right, doesn’t it? Think about it for a moment, there’s a lot of wireless carriers who offer family line phone plans (like $20 per line, for instance). Even when spending $10 a month on NetFlix, people in one household can have shared accounts. So it’s easier if people get phone service, NetFlix and what not with one person attaching their name to the account.

One thing to note is that there are a handful of millennials that don’t receive financial assistance from their parents. However, those who do receive such assistance do so to pay their monthly phone bill. Contrary to what a good number of people think, this doesn’t happen out of pure laziness. In fact, it’s giving millennials the opportunity to pay off their student loan debts or any other debts that hang above them like dark clouds. Plus, it’s cheaper for them and will save them a bit of money if they’re phone is covered by Mom and Dad’s phone plan as opposed to one for themselves.

With millennials facing increased housing prices, debt and depressed wages, this can be a reason why millennials tend to struggle financially. Although their parents tend to foot the bill in terms of their phone service or some other incremental expense, these things won’t last forever. The reality is that one day, our parents will pass away. This means that they could be in line to inherit their IRA retirement account.

When Adult Children Inherits A Parent’s IRA

Parents often save up a percentage of their earnings to ensure that they retire with a good deal of financial security. There will be times when they won’t be able to enjoy their retirement. Some may pass away, albeit unexpectedly. For those who have an IRA and plan on passing it along to their adult child in the event of death, it’s better to prepare now than never at all.

Surprisingly, IRAs can even be mishandled. Even if they are inherited. These inherited IRAs will involve transferring wealth from parents to their spouse, their children, their siblings, or as they wish to charities they hold near and dear to their hearts. But what if that is transferred to an adult child? Let’s focus on this for the sake of this article.

Let’s say that an adult child stands to inherit a parent’s IRA and the latter has passed. There are some things that should be considered as this process occurs. Here are some rules that should be followed when processing the right documents:

1) Approach with intent, not with abruptness

This means that no documents should be signed. Nor should any money be touched without prior knowledge and conversation with a qualified advisor and a member of the family or friend who is well-versed in matters like this. This means resisting the urge of cashing in the IRA altogether. Doing so will cause someone to lose their tax benefits that apply to an IRA or an inherited IRA. Once cash is distributed from the inherited IRA, those benefits are gone for good. That’s because the cash being distributed will now be considered taxable income.

2) Check If RMD Was Made

If the parent lived past the age of 70 and a half, it’s important for the heir to see if that parent made enough to meet the required minimum distribution or RMD. If the answer is yes, there is no need to have one made. If the answer is no, then the heir must withdraw the remaining RMD by December 31 of the year of their parent’s death. All the answers to the difficult questions revolving this can be referred to a qualified financial advisor.

3) Distribute The Proceeds For Maximum Tax Benefits

It’s no secret that dealing with the passing of a parent is one of the most difficult thing anyone can go through. With so many emotions that they can go through, their decision making process may not be as sharp. That’s why it is important to wait a bit before visiting a qualified financial advisor. At that point, the heir will need to ask a financial advisor the best way of distributing the proceeds of an inherited IRA to ensure that they get the maximum amount of tax benefits possible. One way to expand on your tax liability on the RMDs is to minimize the distributions, the taxable income, and ultimately the taxes themselves.


Millennials may be financially independent or codependent. But regardless, it is important for them to prepare for the inevitable. Millennials who inherit a parent’s IRA should adhere to the rules above to ensure that they are getting the best tax benefits possible.

Start Making Better Use Of Your Money – Proven Money Management Tips

Nobody wants to worry about money. Yet, at the same time, taking a casual approach to your personal finances will definitely give you something to worry about in the future. You need to be organised and efficient when it comes to managing your savings. Making smarter decisions today could drastically improve your monetary circumstances tomorrow. If you’re not sure where to begin on your mission to be more fiscally responsible then this advice will teach you to start making better use of your money.

Personal Finance Management

Rethink your basic costs.

Saving money on luxuries is one thing, but what about the essentials? So many people fail to make smart financial decisions when it comes to their basic costs because they don’t want to compromise. However, you don’t have to make sacrifices to save money on the necessities in life. You don’t have to turn the heating off to reduce your energy consumption or stop buying certain kinds of food to reduce your shopping bill. You might simply need to rethink your basic costs. That all starts with some smarter budgeting.

For example, you could save money at your supermarket by searching for coupons and discount codes online. There are always plenty of deals at different supermarkets if you just do some browsing. If you’re going to buy certain goods anyway then you might as well get a discount when you do so. You’ll have saved money without having to take food out of your basket. Additionally, you could save money on your energy bills by buying energy-efficient appliances to replace your old inefficient ones (you could sell those to make up for the expense). Saving a small amount of money on your monthly bill will quickly add up to big savings. Rethink your basic costs if you want to start making better use of your money.

Work on your credit score.

Nobody likes debt, but some of it is unavoidable. If you went to university then you probably had to borrow money for a student loan, and many people borrow money for the initial deposit on their houses or even their cars. Debt itself isn’t bad; it’s a failure to manage that debt which causes people problems. If you pay back your loans regularly then you’ll be able to improve your credit score, and that’ll benefit your financial situation in the long-term. It’ll be easier to borrow money for any other big purchases you might need to make in the future. You should also think about the type of credit cards you use if you want to make sure you’re using your money effectively. If you’re wondering “what’s a good credit card APR?” then you should research the subject. The interest rate on a credit card is very important; you need to build up good credit, but you shouldn’t be charged unfairly for doing so.

Save frequently.

If you want to avoid worrying about money in the future then you need to save frequently. Putting aside a tiny portion of your earnings might seem insignificant, but if you do that for decades then you could accumulate enough savings to see you through your retirement (and perhaps even fund your children’s university education). The point is that you need to save on a regular basis. It can help to set up an automatic standing order to yourself. If some of your earnings are automatically transferred to your savings account every month then you’ll be able to set aside money before you can think about spending it. Pay yourself first. That’s a good motto.

Is It Possible To Make Money Online? Here Are Some Of The Ways You Can Do It

Sometimes we don’t realise that there is an alternative to the nine to five job. Years ago the only way of earning money was to find yourself in a job. A job that you would work really hard in, have no option but to progress in order to earn more, and simply live this more structured life. But now, the options are there to actually work from home, have more flexible working environments and even things like making more money and having a better home and work life. Is it possible? It actually is. But what could you do that doesn’t involve a long commute and being channel to a desk all day. Here are some of the suggestions for some of the ways you could make money online. I hope it gives you some of the inspiration you need.

Money Saving Ideas

Start a blog

One of the first things you could consider would be to start a blog. Blogging these days has transformed people’s lives. What starts out as a hobby and passion, sharing things you love or what you have experienced, can now be easily turned into a job. Many brands are wanting to work with real people and are valuing their creativity and design ideas. It is a great way to start something from home and really develop it into a new business that could see you ditching the nine to five job for good. You can use website builders too create a website without knowing any code and can start your online business. Here is the list of best website builders. It has happened to so many already, why not you?

Invest in stocks and shares

Maybe you think that trading could be an option to consider. It really could be the way forward. Stocks and shares can be volatile, but with careful planning and research, you could potentially make this your reality. Using platforms like CMC markets might actually be a great way to make this income opportunity work for you. Trading is something that not everyone goes into lightly, and in theory as you start out you should be prepared to lose what you invest, as there is no guaranteed and sure thing. But it could be worthwhile to you and definitely one to consider.

Boost your social media profiles

Social media is a really boosting people’s profiles these days, and it is enabling you to completely change your life. Whether your cleaning is taking the instagram world by storm and having you have your very own cleaning army, true story, this happened for someone called Mrs Hinch. Or whether it is something like modelling and being able to share your love for style or interiors, your social media profiles could become your job as your engagement and following increases.

Try matched betting

Matched betting is a little like stocks and share and it requires you to really get your head around what it is all about and how you go about it. In theory, it is risk free betting. You should be find the right matches to bet on, and using the free best that betting companies offer to generate profits. The more you do it, the more portable this can be and it can be an excellent way to boost your income and the best thing about it is that it is tax free. There are many tutorials and blog articles online about how you can make matched betting work for you.

Use your spare time wisely

Maybe now is the time to think about using your spare time as wisely as you can to boost your income in some way. Maybe now would be a good idea to look at all the online surveys you could be filling out. Or maybe you could be performing mystery shops and other online side hustles. Many money making bloggers focus a lot on some of the smaller ways you can make extra money. Doing a few of these often can really mount up.

Is there money in old things?

Finally, is there money in old things, the thing is, when it comes to making money there really is. First of all, start with your home. You probably have many things you no longer want or need, and sell them online on platforms like eBay. Then once your home is cleared move on to charity or thrift shops and see what bargains you can find. It could really help you make money from nothing, and people go on to be full time resellers.

I hope that this has given you some inspiration on what you can do to make some extra money online and boost your income.

5 Ways to Manage Project Finances – Tips to Keep Your Project on Budget

One of the nightmares that many project managers face is budget overruns. To complete a project according to plan, it’s important to have a budget in place that you stick to. The alternative is experiencing a cash flow problem during the middle of the project. To help you gain more control, here are some budget management strategies that should help.

Manage Project Finances

1. Understand Your Stakeholders’ Needs

When engaging with stakeholders before a project takes place, you may find that what they want or need in a project may not be as simple as it seems; this can result in unidentified objectives and goals on both sides of the spectrum. As a project manager, if you don’t have a solid understanding of what your stakeholder wants, it’s highly likely you won’t fulfil their requirements for the project. To make sure that the project runs smoothly, it’s crucial that you have direct and continuous communication with stakeholders, and also develop a detailed project plan that will help you stay on track and work within budget.

2. Budget for Surprises

When estimating costs for a project, it’s crucial that you are as realistic as possible. Before the project takes place, it’s important that you seek input from stakeholders, as well as build in contingencies. There are various things that can happen which may be out of your control, including external environmental considerations which may have an impact on the pricing of resources, financing, labor, and supplies. As a project manager, the last thing you want is to be caught off guard, so having a budget for surprises is key.

3. Develop Relevant KPI’s

You won’t be able to manage a project’s budget effectively without identifying KPIs (key performance indicators). KPIs are there to help you pinpoint how much money has been spent on a project, as well as how the actual budget differs from the original plan. Some KPIs that you should include in your project include AC (actual cost), CV (cost variance), and PV (planned value).

4. Keep Everyone Informed

One crucial aspect of managing project finances is ensuring that everyone working on the project is kept aware of the current budget status. Keeping your project team and stakeholders informed throughout is crucial. The project budget must be something that you review on a regular basis with your team and stakeholders too. In addition, good time management skills are key to ensure the project is completed by the set deadline.

5. Use the Right Tools

As a project manager, it’s only natural that you will want to have the best software and tools behind you to ensure the project is completed as promised. Having the right PM software at your disposal can help you with budget tracking, setting employee tasks, and analyzing reports.

Understanding what your stakeholder wants and needs, having a budget in place for any nasty surprises along the way, keeping everyone in the know throughout a project, as well as using the right specialist project management tools are just a few of the tasks involved in managing your project finances.

Buying a Motorhome: Motorhome Buyers’ Guide & Advice

Investing in a motorhome is bound to be exciting, as it will allow you to get behind the wheel and travel to different destinations on a whim with your loved ones.

Rather than twiddling your thumbs at home, all you will need to do is fill the gas tank and then take to the road to embrace a brand-new experience.

However, it is essential you don’t purchase the first motorhome you come across, as you must ensure it is right for your needs and budget.

To ensure you never regret your decision, read this handy guide to buying a motorhome.

Choose the Right Size Vehicle

Buying a Motorhome

There are numerous valid reasons why you must seriously consider a motorhome’s size before you make an investment. If you have a big family, for example, you will need a vehicle that will provide you all with plenty of freedom to move and offers multiple bedrooms. It can ultimately prevent conflict during a road trip across the country, which could tarnish your vacation.

It is, however, important that the driver of a large motorhome feels confident when operating such a large vehicle. It is also essential to bear in mind that if you plan to take your motorhome overseas, most ferry companies will charge you based on the length of your vehicle.

Select the Best Finance Deal for Your Needs

While motorhomes can be expensive, they will allow you to explore multiple cities and hop into the vehicle at your leisure for a fun vacation away with your nearest and dearest.

If you have your heart set on owning your own motorhome, but don’t have the finances in the bank right now to pay for it outright, you should consider a finance deal that will require you to make affordable monthly repayments to match your budget. If this sounds perfect, find out more about motorhome finance here:

Always Take a Motorhome for a Test Drive

It is essential you feel confident behind the wheel of a motorhome, as it can be a rather significant investment. For this reason, you must take the vehicle for a test drive before you sign on the dotted line. By doing so, you will be sure it is the right option for your needs, so you will feel happy to make the investment.

Find the Right Insurance Policy

It is vital to invest in insurance when buying a motorhome, which will provide you with financial protection should the worst happen to your vehicle, such as theft, an accident, or a storm.It is also wise to opt for a policy that also features contents insurance.

There are, however, other ways to protect your motorhome, such as installing additional locks and various security features. It will provide you with peace of mind that your investment is protected.

So, if you are in the market to buy a motorhome to enjoy many leisurely breaks with your nearest and dearest, you would be smart to bear the above advice in mind.

5 Financial Red Flags That Could Ruin a Relationship – Know Money Issues that Could Ruin Relationships

Relationships can add great value to our lives and often bring the rewards of happiness and love. But how they develop and continue is all down to each partner’s contribution – both what they bring to and what they put into the relationship.


The emotional investment is the primary driver, growing from the attraction and feelings you have for one another. But as the relationship grows, there are other factors to consider. That’s where the financial investment you each make to the relationship can come in.

When it comes to love, how you discuss and deal with financial matters can make or break a relationship.  Ultimately, without communication, a relationship may be doomed to fail if both partners aren’t on the same page about money. It is vital to talk about finances before it’s too late.

Here are 5 financial red flags that could ruin your relationship:

Unequal salaries

Both people might be 100% committed to each other on an emotional level, but their financial investments may not be the same. One partner will likely out-earn the other. If your salaries are especially lopsided, this could lead to arguments or resentment over who’s bankrolling shared expenses. It’s important to discuss what each party brings to the relationship and how you’ll both handle any disparity, or it could present real problems down the line.

Unequal investment

Having different salaries is one thing, but keeping a tight grip on your wallet is another. If one person invests everything they own into the relationship – paying bills, buying food, funding the couple’s shared social life – while the other never picks up the cheque, it could be a major red flag. It’s not fair for one partner to pay for everything if the other can easily afford to pitch in. Couples should aim to split the bills as fairly as possible whenever they can.

Hiding spending

There needs to be trust in relationships, including what each partner does with their money. While many couples accept that each person should have some freedom to spend their money how they like, there could be trouble if you have no clue what the other person is doing. Hiding how they spend money could hint at larger issues, like hiding poor credit or large debts. These red flags could make it harder for you to get a home loan, add to your savings or fund your social life as a couple in the future.

Lack of Communication

Avoiding discussing how your money should be spent as a couple could cause serious issues. You’re in this together, so decisions should benefit you both—not just one of you. A real cause for concern is when a person’s financial values and behaviors are not in sync with the other person. Discussing how you each tend to spend or save money could help. You may need to talk through a few compromises to keep the relationship harmonious and stay on track towards your financial plans.

Not planning ahead

Planning is one of the wisest financial investments we can make for our futures. No exciting vacation or college fund is going to pay for itself, after all!  Couples in long-term relationships may also want to think about things like life or funeral insurance to help protect each spouse from financial hardship if either were to pass away suddenly.  If one half is keen to plan, but the other isn’t, this could be a red flag. That person may not feel as committed to the relationship or has a very different vision of the couple’s future that needs to be discussed. A reluctance to plan could also come from a general uneasiness of thinking about all that could go wrong in the future. This might also be a problem, because burying your head in the sand won’t stop the unexpected from happening.

Don’t let money come between you

Finances can be a major source of discontent in relationships, whether you’re flush with cash or pinching every penny. It’s important for couples to talk about the finances together and be on the lookout for red flags, but you should always remember why you fell in love in the first place. Not losing sight of this in the heat of a money argument could help you both keep a level head and discuss any issues calmly and maturely.

Retirement Planning: Lessons to Be Learned from the Mistakes of Boomers

While more Boomers than you’d care to count failed to plan adequately for their retirement, an even larger number regret the mistakes they made along the way. Of course, not accounting for the cost of living adjustments that have skyrocketed exponentially over the years is just one of those mistakes no one could have foreseen.

Remember, many of our current retirees began working when gas was less than a quarter a gallon. Yes, you read that right! They’d pull up to the pump and fill their vehicle for less than it costs for a single gallon today, as ludicrous as it sounds. Today, many are lucky to keep their cars fueled let alone cover the cost of tags and insurance. So why are today’s retirees in such dire straits? Here are a few of the mistakes you should avoid at all costs, literally as well as figuratively!

Retirement Plan

Begin Planning at the Beginning

The first, and perhaps biggest mistake many Boomers made was to wait until they were well into their chosen careers. That was a huge mistake on many levels. First of all, by the time they were settled in nicely and making a respectable wage, they had families to care for and retirement planning got pushed further and further into the future. Also, they felt there would be time for all that if they merely saved for 20 or 25 years when starting in their 40’s. Remember the skyrocketing COLA (Cost of Living Adjustment) referred to above? That is something they couldn’t have foreseen. In reality, had they begun saving or investing from day one on their very first job, they might have accumulated enough wealth to see them through their golden years.

Not Working With a Financial Planner

The second biggest mistake many Boomers made was trying to go it alone. They’d read the news, watch the markets and dabble on a whim. Many of those Boomers lost more than their proverbial shirts during the last big crash of 2008-2009 when the market came tumbling down on a global level. Even some of the largest financial institutions failed, but that’s another story altogether. The point being made is that had they had the benefit of retirement planning Minneapolis financial advisors are famous for, they might have withstood the fall. Most of today’s retirees state that they wish they had worked with a pro in the industry so that their investment strategies had been sound.

Failure to Follow and Adjust as Needed

Another huge mistake is to set an investment strategy and leave it as is. Nothing in life is static and so as with anything else, you need to follow and adjust with the times. While real estate might be a great investment today, tomorrow it might be stocks and the week after it might be commodities. A financial planner will help you alter your portfolio as profits wax and wane, rise and fall, so that is something else to be considered as well. While you could watch and adjust without the aid of an expert, it pays to have someone with more than a hunch to back them, and that’s what you are working with if you try to go it alone.

The best advice for sound retirement planning is to learn from mistakes made by Boomers. Don’t let history repeat itself at the cost of a safe and happy retirement – yours, that is!

Tips To Plan Your Personal Finance Efficiently

The thing I have discovered about working on personal finance is that it is not rocket science. Personal finance is 80% behavior and 20% knowledge. Personal finance refers to the strategic planning and management of saving, earning, spending and budgeting of expenses. Personal finance requires longterm planning, thinking about the future while living in the present without sacrificing the current necessities. Planning can help you meet your financial goals, but only if you put the plan in the right direction. I believe that through discipline and knowledge, personal finance peace is possible for all of us. With efficient personal finance, a person can lead a decent and happy living with sufficient financial security for the future. We will be discussing some efficient personal finance tips from which a persons heart and mind become diplomatic, without being worried about the in’s and out’s of life.

Make A Household Budget For Lifestyle Spending:

Take the spending that you have budgeted out for yourself for the month and break it down in a very visual and tactical way. I recommend one of those chalkboards calendar’s that is broken down into days of the month and physically writing down the different ways that you are spending throughout the month from now. Not only you write down the social outings but also your meal plan throughout the week. Put the dollar amount as well next to all plans for the month. It will not only help you keep organized but it will also remind you of what reality is. There is a different formula for everyone because everyone out there spends differently but there are some simple steps; make sure where that every dollar you spend has the highest value possible and that means planning ahead. Remember to always keep an eye on the sales as well. Keep looking for the seasonal sales, avail some discount coupons and vouchers that will help you to remain in your budget. Without any doubt, spending wisely will be a very effective method to improve your personal finances.


Use Your Credit Card Strategically:

Credit cards high-interest rates and potential impact on your credit score can lead to danger; regarding your long term financial success. Don’t let your credit card balance exceed more than$5000. To minimize your credit card debts, take precautions. Try to only use your credit card when there is no alternative left. It will surely help you to save a lot of money and will ease your debt burden too. This is something people really need to put a check on how to break you from the credit cards and set a debt-free life. This will surely help you out to handle your personal finance efficiently.

  • Keep an eye on your spending’s

It is important to stay in control because it is quite easy to rack up more debt on your card than you can afford to repay it. Keeping track of your spending’s the best way to control your expenses. You can even use different applications that will help you to manage your expenses and make sure that you regularly check your credit card statement.

  • Make sure to pay your credit on time

Whenever you get your credit card statement, check the due date of the payment first and make sure to pay your credit on time. This will definitely help you sidestep any extra interest charges or awkward late payment fees. To make it easy to pay on time, think through setting up a direct debit to pay a fixed amount off the balance owing each payday. Make sure that these payments cover at least the lowest monthly payment due on the card.

  • Maximizing your credit card repayment

If you are going to make the minimum repayments on your card each month, you have to pay a lot of interest and it could take many years to pay off your credit card debts. If you are struggling to pay more than the minimum monthly repayment, then consider switching to a card with the more alow interest rate. By doing this you can pay off your balance more whenever you can.

Set Up An Emergency Fund:

There is a universal truth: if you have money in your account you will definitely spend it. Think of saving money because this habit will help you meet finance in an emergency. Open a separate account for saving money for emergencies issue. If there is any medical emergency with you or your family, your car breaks down, or need to travel for a funeral or let’s say you have accidentally lost your job then you need to dip into your saving account. An emergency fund is a money you set aside to cover unexpected expenses. Making this your priority will give you peace of mind and give you some financial breathing space whenever things go wrong. Any amount is a good amount to have in your savings fund considering your needs. The more you save for emergency fund the better off you will be.

Money that you save counts, even putting $10 aside from your income will actually build up to a savings buffer for you. You could even think about using your coins and putting them into empty jars at home. You know what? Your small change can certainly make a big difference. The best way to get your emergency fund going is to find a way that is going to be easiest for you. Think about saving all the extras like a tax refund, essentially some payment or any overtime you receive.

Pay yourself first, set aside $10 from each pay or 10% of your income and have that transferred to your bank account. Getting an out of the blue substantial cost is never a positive feeling, yet having an emergency fund will keep your feelings of stress down. You won’t need to stress over where you’ll get the cash to pay for it, and you can concentrate your strength on taking care of the issue. Keep your emergency fund account for those costs you truly need to pay now. In the event that you need to utilize your savings for something different, at that point set up a different savings goal.

Be Secure With A Personal Loan:

A personal loan is an effective foundation of personal finance. While opting for personal loan keep in your mind that the only concern should be to save as much money as possible on the cost of that loan. Personal loans make you feel secure and satisfy as you use that loan constructively. Try to avail personal loan at a lower interest so that you won’t be having a debt burden. A personal loan may be secured or unsecured, reliant on whether you offer an asset such as your car as security for the loan. Secured loans can offer a lower interest rate, but run the possibility that the credit provider may have the right to sell the security if you can’t pay. You will need to contemplate wisely which type of loan best suits your needs. A personal loan may seem more attractive than additional forms of credit because it offers a lower interest rate, spread over a longer term. The personal load could end up costing you more by the end of the loan term. Remember, the longer the term, the more interest you will have to pay. When comparing loan options, make sure that the term of the loan is the same for each loan you are comparing (for example, compare a five-year loan with other five-year loans).In this way, you will get a real picture of the difference in interest rates.

Go for secured personal loan. In Personal secured loan the borrower’s property is placed as collateral with the loan provider. With the loan well secured, lenders will reduce your interest rate and they can also offer you great repayment deals towards installments. Always check the terms and conditions of any type of loan contract before you go ahead.

Track Your Accounts, Bills & Debts With Personal Finance Software

Using personal finance software to support your finances is a smart idea. The ultimate personal finance software provides sufficient user-friendly features allowing users to manage every aspect of their finances including account, investments, budgets, balances, limits and due dates. If in case you are unable to manage your financial affairs, a comprehensive, up-to-date record of your revenues, expenses, bills, due dates all are in one place which can help prevent late payments.

In A Nutshell:

We can easily manage our personal finance issues with a bit of honesty within ourselves, become disciplined and by having some financial knowledge.

Do You Need Credit to Buy a Car in Phoenix, AZ?

If you need to buy a new or used vehicle and have poor credit, a Phoenix car dealer will ask whether or not you’re able to place a down payment on the vehicle. If your credit rating is terrible, you’ll most likely need to have a down payment. All car dealers have different requirements for money down, and it could depend on several factors.

old vs new car

Let’s take a look at how various kinds of car dealers and lenders will approve your loan with bad credit.

Credit needed for Buying a New Car in Phoenix

If you’re buying a new car, most new car dealerships can apply discounts and incentives to reduce the down payment. If you’re trading in a vehicle that has negative equity or carries a Phoenix title loan, you may have to provide money down so that it isn’t carried over into your new loan.

While purchasing a brand-new car with poor credit isn’t so common, many manufacturers offer lower priced new vehicles with attractive financial incentives to make buying easier for individuals with lower credit scores. Some car companies are known for their lenient credit financing programs, and this can be something worth looking into if a brand-new car is what interests you.

Buying a Used Car with Poor Credit

Purchasing a used car without a down payment requires the right combination of car, book value, trade-in value, and credit rating. Most lenders will only finance a loan that is lower than the book value of the used car. Consequently, you will have to concentrate on vehicles that have an excellent ratio of the sale price to loan value.

This all depends, as every circumstance is different, although it isn’t uncommon for a used vehicle dealership to be capable of working the numbers in your favor so that you can purchase with as little money down as possible.

Buy here pay here dealers generally require money down, and are not as flexible with trade-ins. In case you have negative equity in the vehicle you are trading, you will most definitely be asked for a larger down payment. Typically, a lower interest rate is offered by a buy here pay here if you have money to put down.

How to Increase Your Chances Buying a Car with Bad Credit

  1. Do not act desperate for a car. Make the dealer think you’re just looking and that you have seen other vehicles, and other dealers, with a car and a deal you like. Make the dealer compete with hypothetical dealers. Ask questions. Be knowledgeable.
  2. Be mindful of your credit score. Every time a car dealer looks at your credit, it goes down. Remember this as you are shopping for a car. Usually, multiple credit checks in a short period hurt less than a check here or there.
  3. Do all you can to increase your score before you shop. If you know your credit isn’t the best, there are ways to build it, but it takes time. A secured credit card is a convenient credit product to get from your local bank. You have to put forward a security deposit of a minimum of $300, which becomes your credit limit. After a few months of having and using the card, and being diligent on payments, your credit score will slowly increase.
  4. Refinance when you are able. If you can get a car loan with low or no credit, your interest rate will be significantly higher than if you had a better credit score. Keep an eye on your credit score once you have bought the car. Once your credit score gets to a right place, or better, apply to refinance the loan with that lender or another one. You will end up with a better interest rate and may even have a lower monthly payment.
  5. Check your bank to see if it shows your credit score. If you have a bank account, some banks offer your FICO credit score as part of their online account perks. Check to see if your bank offers this, so you have an idea of what your credit score is before you shop for a car.
  6. Talk to your insurance company. When it comes to vehicles, the actual monthly price of the car is only one part of the equation. If you have picked out a few cars you are interested in, ask your car insurance company how your insurance would change if you bought either of them. Your car insurance may go up or down depending on the age of the vehicle, the perceived safety of the vehicle, and other factors.
  7. If you have a trade-in, appraise it. You do not have to take the dealer’s word for what your car is worth. Look at Kelley Blue Book at or Carvana at and research the value of your car as a trade-in. Print out the trade-in value so if the dealer tries to give you an amount that’s far less than what KBB or Carvana says it should be, show them your printed page. If you have to, sell your car to a private party.
  8. Find a reputable dealer. If you feel the dealer you are working with is shady or is otherwise not able to be trusted, you can always leave and find another dealer.

While it can be challenging to buy a car in Phoenix with little or no credit, it is possible. You have to be patient and dedicated finding the best deal for you.

Take Your Gold Here To Get Some Cash

There are many reasons that make gold a worthy investment. Among the notable characteristics of this precious metal is its global acceptability as a currency as well as its easy liquidity. If you have physical gold, you can have it traded for cash anywhere in the world. So where do you take your gold to exchange it for money?

For owners of gold jewellery, gold coins or bullions, who are interested in taking advantage of the high selling price of goldtoday, there are a number of things to consider before you go and trade your safe haven for cash. These three details will help ensure that you get the highest possible selling price for gold:

Gold Standards

1. Is Your Gold Real?

Real gold items will have a purity stamp or mark, which typically indicates the karat number. A 999 mark indicates that the item is a 24 karat gold, with 99.9% gold. A 990 indicates a 22 karat gold, with 99% gold, while a 916 means it is a 22 karat gold, with 91.6% gold. An 18 karat gold, with 75% gold, is usually marked with 750, and a 14 karat gold, with 58.5% gold, is marked with 585.

Other ways to tell if your gold is real includes using a magnet, fire, water, and your skin. Gold is a non-magnetic precious metal so if your gold jewellery or coin is attracted to magnet, then you have to rethink your sale. Also, real gold will not change color when exposed to fire, will not float in water, will not rust, and will not turn your skin either black or green.

Forms of gold that are accepted in exchange for money include gold coins, jewellery (earrings, bracelets, necklaces, rings, chains, anklets, charms, pendants, brooches, and pins), dental scraps, gold solder, ingots, and nuggets.

2. Know How Much Gold Is Worth

In order to ensure that you are not short-changed, you have to know the current selling price of gold before you sell it. There are a number of online calculators that can give you estimates of the amount you will be getting for your assets.The value of gold is based on its current market price while also taking into account other factors, such as the karats (unit of purity) and the weight of your physical gold.

So, what is the right amount that you should expect for your gold? Gold is currently at a near-record price of over $40 per gram for 24 karats, which is pure gold. Gold bullions are pure gold, but other items such as jewellery are mixed with other metals. The higher the gold content, the higher the value of the item. So for gold coins, you can expect as much as 90% of the market value as a reasonable settlement. For gold jewellery, prices within the 70% to 80% range of the market value are reasonable settlements.

3. Where You Should Sell Your Gold

Once you have an estimate of how much your gold is worth, you have to check out gold buyers near you. Pawn shops Melbourne locals rely on such as Gold Buyers Melbourne, jewellery stores that buy gold, gold and silver exchanges, or coin stores are among your options. You can read up about the companies’ Better Business Bureau ratings before you have your gold traded in for cash.

You can also look intoonline gold buyers, but make sure you practice due diligence and research before selling your gold to avoid becoming a victim of fraudulent transactions. Find a reputable company with good reviews and high ratings of customer satisfaction.