How to Successfully Plan for Your Retirement in Florida

Florida is a popular place to retire because of its sunny climate, temperate weather, and carefree atmosphere. If you consider retiring in Florida, consider Bonita Springs and Orlando. These cities are great for those looking for a laid-back, easy-going atmosphere. Here’s how to transition seamlessly into retirement in Florida:

Budget and Savings

You may find it hard to determine how much money you will need to retire in the years following your work life, but it is crucial to understand your financial situation. While retirement savings should be kept high and growing, there are many expenses you will need to consider.

This includes account fees, fund expenses, and brokerage commissions. That means investing wisely in the long term. Even if your paycheck goes up every month, you should set aside money each pay period for retirement.

Then, you can increase your retirement savings as your salary increases. In general, you should aim to live comfortably during your retirement, but there are many ways to cut costs and still reach your goals.

Understand Florida’s Tax Laws

While you might be tempted to claim Social Security and retirement benefits and pay the tax in your home state, it is not worth the trouble. Instead, you can enjoy your retirement in Florida, free of state taxes. You won’t even have to pay any income tax on your pensions and Social Security benefits.

One way to plan for retirement in Florida is to consider taxes. The state has many tax breaks for retirees, and it is the 23rd highest when it comes to sales taxes. IRAs and 401Ks are exempt from sales tax, so you’ll be able to save money on taxes.

While most IRA contributions are tax-deferred, it is essential to understand how your income will be taxed in retirement. Even if your contributions were made after-tax, you would likely owe taxes on the earnings and pre-tax contributions.

Invest in Owning a Home

This state has some of the best housing options for retirees, and the cost of living is lower than many other states. If you plan to live in Florida for the rest of your life, here are some tips. The first thing to do is get a list of available homes in the area you’re considering. This will ease the process and make it less stressful.

A few options are available for this, including checking the listings posted by real estate agents. You might get remarkable offers from people’s condos, apartments, or others selling inherited property in Florida. For most retirees, this can be a tough decision. If you decide to sell your home, ensure that you get the best price for it.

You may want to consider shopping around so that you can have more options for your new home. This way, you’ll have time to find the perfect place to live in Florida.


You need to get an insurance policy that can be easily transferred from the current state into Florida. This depends on your state.

In addition, if you are married, you can enroll in your spouse’s insurance plan. Make sure you sign up within 30 days of your termination date. If your employer has offered health insurance, this can be a great option.

If you do not have a health insurance policy, you should consider buying a separate policy. Depending on your age, you may have many options for health insurance.

According to Harvard University, your priorities and goals may change upon retirement. You might have different needs in terms of health insurance. A good time to review your insurance program is right before retirement.

Your goal is to have a secure retirement, so it’s essential to review your health insurance options to determine what will best fit your needs. This is an opportunity to make any necessary changes to your policy. Once you’re retired, you’ll be able to focus on other aspects of your life.


Another benefit of retiring in Florida is the lower taxes. While the climate may be temperate in other states, it’s still comfortable for retirees to enjoy the outdoors. The weather in Florida is usually warm and sunny, and if you can afford a second home, you might as well spend some time in it. Moreover, Florida residents can opt for a low-maintenance lifestyle. And because the state’s population is primarily composed of older people, retirement in Florida is a good option.

Digital Marketing Trends For Financial Services

The impact of digital marketing in the financial industry is very difficult to underestimate. The world is now being dominated by countless technological advancements and that is why companies and business owners need to implement modern strategies to attract consumers and increase the number of clients or customers. The importance of digital marketing in financial services is very evident today. People more often rely on the convenience of technology and there is an increase in their consumption of multiple digital marketing channels.

Digital Marketing Trends You Can Incorporate In Your Financial Services

Data-Driven Digital Marketing

There is an increasing trend in the use of data to target consumers in financial services marketing campaigns. Financial services are utilizing a massive amount of information and data to predict and perform marketing campaigns that specifically aim at and target consumers. By doing so, it is easier for you to offer effective advertisements while catering to the diversity of the clients or customers from everywhere. Data-driven marketing campaigns are also allowing you to take advantage of the tools and programs while creating a resonating effect for consumers. You can even work with a data-driven digital marketing team to help you implement your marketing campaigns successfully.

Video Content Advertising 

If we try to look at the variety of contents that are being shared online, we can see that most of them are in the form of videos. There are multiple social media platforms that are offering videos and they can easily go viral in just a short span of time. This is the reason why you should consider utilizing video content for advertising. You need to use videos to help build your brand and help build your credibility in terms of financial services. Video content is very effective and it can easily appeal to your target audience while keeping them engaged with your marketing campaigns.

Predictive Analytics Marketing

Technology has the learning capability to redefine digital marketing for financial services. This is possible with the help of consumers’ activity information, lead scoring and historical data. These factors will help you to evaluate your marketing campaigns and build more effective advertisements for your products and services. Predictive analytics as a marketing strategy for financial services is a growing trend nowadays. We are rapidly progressing towards automation and digitization.

Personalized Financial Marketing 

Financial services must learn how to implement effective marketing strategies. One way to achieve it is by considering personalization. If you include personalized suggestions for products and services, you can easily reach out to your target audience and offer what they specifically need. You can use the data of your customers and segment them into different categories to offer a personalized and individualized experience to them.


To further conclude the discussion, we can say that digital marketing is indeed transforming the nature of attracting customers. Technological advancements are offering multiple ways for you to captivate and engage with your clients or customers. You need to figure out how digital marketing works and how it will help you to track your customers’ engagements with products. You have to maximize the full potential of digital marketing to help you market relevant products to your target customers based on specific criteria.

Money Saving Tips for Freelancers

Working as a freelancer can pose many challenges. If you’re a freelancer, chances are your work palette is different from the typical nine to five employee. As a freelancer, you make your own hours, dictate your own rates, and decide which projects you’d like to work on. You are essentially your own business and you can decide to run it how you see the best fit. However, to be successful in this line of work, it all starts with how you save and manage your money. Whether you own your own business or are considering freelance work in the near future, here are some tips you should keep in mind in order to save money while maintaining your financial stability. to ensure you are financially stable while allowing you to save money in the process.

Set Your Goals

If you set your goals from the beginning, you will be able to determine what you need to save before you get to where you need to be. Regardless of whether you’re a freelancer or you work full-time, the money you generate likely goes towards everyday household bills and necessities.. There may be additional wants and hobbies you would like to engage in that will typically cost extra money. In some situations, your goal might be to clear your debt. In other cases, you might be looking to purchase a house or be able to maintain your mortgage with your current finances. Some circumstances might have you working towards taking your family on vacation or buying a new car for your birthday. When creating your financial goals, think about what it is that you want to accomplish first and anticipate how long it will take to get you there. Having a clear goal will get you on track to saving and managing your money the right way.

Identify Your Net Income

Unlike nine to five jobs, freelancing requires you to work contract to contract. With that being said, it’s crucial to make note of how much money you’re yielding each month. As a freelancer, your contracts can vary from six months to a year. Because of that reason, there might be a circumstance where you might have more money in one month than another month. These can vary from six months to a year. When you are in the contract you are expected to be paid according to your contract agreement. Once the contract is up, you will need to renew it. Otherwise, you won’t be working with that employer any longer. There are many cases where freelancers work jobs that are project-based. Usually, when the project is over, you move on and before you know it, you’re on to another project. Keeping track of how much money you will bring in over the course of a year is important in order to stay financially stable overall. If you have contracts that will end around the same time, start looking for opportunities months in advance. You want to set yourself in the best position possible for a consistent and stable income. Working as a freelancer means time is money. It’s never too early to start identifying which jobs you allocate most of your time to and which jobs are most profitable for you.

Where is Your Money Going?

Money management is key simply because you have to keep track of all of your finances. Figuring out where you are spending your money is essential in being able to save in the long run. As a freelancer, here are important things to keep in mind when tracking your money.

Track Essential Bills

Make a list of the essential bills that you need to pay every month. These bills include your groceries, rent/mortgage, and other utilities. Since we live in a digital world, most payments are done by card and can be tracked easily by looking at your bank statements. Tracking your expenses will help you figure out where you can make adjustments. Start with listing your fixed expenses such as bills, rent, mortgage, or car payments. Chances are you won’t be able to cut back on all of these, but you will be able to identify changes you can make. For example, if you are a homeowner looking to reduce the amount of money you spend on your home to free up more cash, looking into what it costs to refinance your mortgage might be an option for you. Refinancing can help you clear some debt while providing you additional cash to use how you see fit.

Track Your Debt

It is important to keep track of the debt that you owe. Debt can come in the form of credit card bills, school loans, or any other expenses you have that require monthly payments. For some people, tracking down some bills can be difficult but you can always sign up for a free credit report check. Additionally, there’s a helpful list of money tracking apps you can sign up for to track your expenses as well.

Create a Budget

Creating a budget is an essential tactic when it comes to managing your finances and saving money. Budgets give insight into what you are working with and where your money is being allocated. Your budget represents exactly how much money you spend each month and how much money you plan to save, all so you won’t overspend. As you create your budget, keep in mind that you need to subtract deductions such as social security, 401(k), and taxes. Once you have your budget set, it’s best that you continuously stick with it or it can lead you to financially unstable situations. You don’t want to run into a scenario where you are spending money that you don’t have.

Open a Business Account

As you create a budget for yourself, it can be helpful to open up a banking account strictly for your business. Using the same account for your business and personal spending can quickly become confusing. To make sure your budget is accurate, you want to avoid any confusion by mixing personal expenses with the funds you need to run your business successfully. Use your personal account for fun activities, entertainment, hobbies, online shopping, and so on. This way, when you are looking at your bank statements, you won’t have a hard time differentiating what expenses are for your business and which are personal. You’ll have a clear view of your expenses and where there are any changes you might need to make for yourself.

Save for Emergencies

Unlike those who work nine to five, freelancers can be in situations where they are out of work for periods of time. As you create your budget, it’s important to think about the possible worst-case scenarios that could occur. If there’s anything we’ve learned from last year’s pandemic, it’s that life can change within the blink of an eye. It’s crucial to create an emergency budget to have on hand. Emergency funds should have at least three to six months’ worth of money. These funds should be able to cover your living expenses in hopes that you will be able to find another source of income while you rely on your emergency fund. Lifestyles vary, so it’s important for you to calculate how much money you set aside for emergencies.

While it can be difficult to prepare for unforeseen circumstances, creating an emergency budget for yourself can buy you time while you are looking for your next line of work. If you’ve secured a contract for a new job but it’s a month out, leverage your emergency budget to keep you stable. Once you start your new job, begin adding back the money that you used in the previous months. You want to always schedule to add back to ensure you have enough to cover you if something unexpected happens.

Understand Your Taxes

To make sure your money is working best for you, take the time to understand how freelance taxes work. If you make over $400 as a freelancer monthly, the Internal Revenue Service, or IRS, will consider you self-employed and require you to file taxes as a business owner. In addition to that, you’re responsible for paying a 15.3% self-employment tax that will represent what you pay in social security and healthcare. You are also accounting for the half that is normally covered if you worked for a traditional employer. As traditional employees use W-2 forms to file their taxes, freelancers file their taxes using a 1099-MISC form. You will receive those forms from your clients who pay you over $600 or more.

File Your Taxes Quarterly

If you are expected to owe $1000 or more as a freelancer, you should try and pay your taxes quarterly. If you’ve been a freelancer for a few years, take a look at last year’s return to estimate how much you think you should owe. However, if you’re new to freelancing, you’ll want to make sure you are putting money away to cover your taxes. If you’re worried about overpaying, or not paying enough,he IRS will issue you a correction for any amount you’ve paid or owe. The deadlines for filing the tax return are January 15, April 15, June 15, and December 15, 2022. If you are a married freelancer, there are things your spouse can do to help reduce your tax bills such as increasing their withholding taxes to help pay off your expenses.

Hire a Tax Professional

Keeping track of your finances, deductions, and taxes, while still maintaining the day-to-day obligations for your job can be challenging. Hiring an accountant or CPA who is knowledgeable in freelancing can be beneficial, especially around tax time. Not only can they help you manage your taxes, but they also might be able to find ways for you to pay less money back on your return. Financial situations can change in the blink of an eye and having additional support to help manage that will prevent you from having a complicated time during tax season. Tax professionals can help keep track of your statements and can help you stay ahead of the curve when it comes to changes in tax laws.

Track Your Deductibles

When you work as a freelancer, you are viewed as your own business. Being self-employed, everything you do affects your business. Your workspace, office supplies, and travel for business meetings are just some of the few things you need to be successful as a freelancer. Keeping track of these expenses is important because once tax season comes around, these can be used as a tax deduction to reduce how much money you need to pay back. As a freelancer, it’s important to know the type of deductions you can list on your tax return so that you can owe the least amount of money at the end of the year. For example, if you are a freelancer who works from home you can take advantage of the home-office deduction. You will be able to write off expenses like utilities used to run the space of your office as well as office supplies and furniture. Each auctionable has a set of requirements they have to meet. Take the time to learn about the types of deductibles you are eligible for. Keeping track of your finances can be difficult, so it can be useful to leverage helpful resources so that you can stay on track.

Plan for Retirement

Whether you are a freelancer or a traditional employee, retirement planning is always something that should be accounted for. While traditional employees can take the 401(k) their jobs offer them, freelancers have the chance to take charge and set up their own. Chances are, you don’t want to work for the rest of your life and look forward to retirement. Although it might feel as though you always have to be focused on your day-to-day, don’t hesitate to plan for the distant future. A 401(k) could be a good option for someone freelancing. This plan allows the same contributions as a traditional 401(k). Another option for retirement is filling out an IRA. A SEP IRA allows you to contribute up to 25% of your earnings. These are some of the simplest options to start saving for retirement.

If done correctly, being a freelancer can be as fulfilling as any traditional job. You can be in charge of your own fate and work on projects that you are passionate about. If you work on managing your money and planning for the time ahead, you can have a successful career as a freelancer. Fully develop your plan and you can be a freelancer up until you retire. While retiring after being able to freely work on projects that matter to you sounds inspiring, it’s all the more reason as to why you should make sure your finances are in order to set you up for success.

Personal Finance Tips That Will Change the Way You Think About Money

Handling your finance is an essential step which if done rightly, can yield fruitful results. You must have read many articles for personal finance management tips and few of you would have tried them as well, but until you make your own personalized chart; it might not work.

There will be zillions of questions cropping up in your mind, when it comes to personal finance tips. Let’s have a glance of 50 personal finance tips, which can answer most of your questions.

The financial Move!

#1 Get started before it is late!

The first and foremost thing to do is, get started. When it comes to finance management, it’s never too late. To begin with, you need to have a workable plan and most importantly, a strategy. The time you invest on planning your money, can pay off well in future.

#2 Don’t snooze your alarm!

One of the old sayings by Benjamin Franklin, which has never turned old in its meaning: “Early to bed and early to rise makes a man healthy, wealthy and wise.”

Waking up early is not only beneficial for your health but helps you to plan things better. A clear mind can give clear ideas; if you cultivate the habit of waking up early, you can give more time towards planning your finance.

A glimpse to the basics in finance!

#3 Create a financial calendar

With the stress of today’s lifestyle, it’s almost impossible to remember everything. There are chances to forget your dues and end up paying along with late charges. Setting up appointment reminders would solve the need. Create a personalized financial calendar with every detail of monthly, quarterly & yearly dues, tax due date etc.

#4 Your net worth?

Before you proceed with your financial plans, it is important to have the figures right. Do you know what your net worth is? Your Net worth = Assets you own – debts you owe

# 5 Set a budget

The most important finance tip for anyone is to have a budget. A budget is incomplete without exact numbers. Start with the savings in your bank account; this will give you an insight of how much you have and how much more is required. Few points to note before planning a budget:

  • Create a budget based on your life goals and not just numbers.
  • Set categories- short-term, long-term, urgent etc.
  • Set a time period based on your income and expenses. Don’t push yourself to get stressed.

#6  How App-to-date are you?

The world has app-dated their smart devices with various apps to track the day-to-day routine to setting reminder on bills & payments etc. There are millions of apps which serve different purposes & can be of great help to handle finances.

#7 The smart tools

Learn about using the smart tools like money wiz, good budget, debt manager etc.

Finance Tips for – Debt handling

#8 Make a Debt card

Track down all your debts and make a card to know how much you owe.

#9 Watch out the interest rates!

Track down the debts based on interest rates ranging from high to low. Start by clearing off the ones with higher interest rates to save some extra pennies.

#10 Pay your bills on time

If you cultivate the habit of paying the bills on time, you can save a lot which can be used for other purposes. The late payment charges can be avoided which is actually an unnecessary expense.

#11 Small Debts to conquer mountains

Clearing off small debts can motivate you towards clearing the mountain of debts.

#12 Don’t Ever Cosign a Loan

If the other person missed on the payment, your head can troll. The lenders will be chasing you and it might spoil your relationship with that person.

Tips to deal with smart way of shopping

#13 Make a list before you shop!

Going for shopping without a list can end up in huge bills! It is a wise step to make a list of items to buy before you step into the market.

#14 Device your spending mantra

Look for positive quotes to adapt as your spending mantra. Like “Shop what you need and not what you want”

#15 Opt for seasonal fruits & veggies

This will help you to save some money and you will be healthy as well.

#16 Cook and pack it for lunch

Explore simple lunch options to pack for work and try to make it at home. It’s healthy and you can treat your taste buds with variety.

#17 How about an All-cash diet?

Fix an amount for your weekly expenses & drop it from the ATM. Go for an all-cash diet by paying in cash for every small thing you shop. This will give you the exact track of how much you spend on a weekly basis.

#18 Cut down emotional spending

Feel bored or sad? And the only way to lift your mood is to spend some dollars on anything. Don’t shop when your emotions say.

#19 Shop around & grab the deals

Shop near your home and avoid travelling miles just for shopping. Keep a check on all nearby deals and grab it.

#20 Make the most of cashback

You get cash back offer on almost everything these days so make the most of it.

#21 Solo shopping

Don’t buy that gown just because your friends suggested and spend dollars on it without really liking it. Shop solo to make your own choice on the things you buy.

#22 Party at home

It’s good to call your friends and family home if you feel like partying. Saves money and gives privacy as well.

Tips to manage finance on your trips & travel

#23  How do you travel on a daily basis?

If you travel by bus or rail daily then opt for monthly or yearly travel cards to get extra benefits.

#24 Opt for public transport

Walk the miles and travel in public transport. This is a good option to stay fit and save money as well.

#25 A car is not all you need!

Don’t buy a car just because you feel it’s a status symbol. Car is actually an expensive commodity in terms of maintenance, repairs and fuel.

#26 A budgeted trip is a good option!

Keep a budget for every trip, from food to commuting. This will help you to manage your finances better.

#27 Plan your travels early!

Keep a buffer of at least 4 months to plan your trip to get best offers at reasonable rates. The earlier, the better when it comes to flight tickets.

#28 Try their local cuisines!

Local cuisines are often cheaper and good. Moreover, you get to try different cuisines every time.

#29 Record every small expense of your trip

It will give you a clear picture of how much a trip costs and what can be cut down for the next trip.

Tips to handle your money

#30 Every day Money Minute

A secret to success- Spend a minute daily to check your financial transactions!

#31 Divide your income

This is an essential step in finance management; divide your income towards the things you need to buy or do and a part of it towards savings.

#32 Your financial Priorities

At least 20% of your income should be allocated towards your financial priorities like an emergency expense, paying off debts, and savings for retirement etc.

#33 Your Lifestyle

Don’t compromise your present for the future. Savings are important but not on the cost of losing the small things that gives you happiness in present. Allocate at least 30% of your income towards your lifestyle like movies, dining out etc.

#34 Below 28 on your mortgage payments

It is advisable to keep your mortgage payments below 28% of your monthly income to play safe.

The Tips towards financial success

#35 Financial Self Motivations

When you set timelines for different goals and it takes long to reach it, there are chances you feel low. So, look for ways to self motivate.

#36 Your Financial Vision Board

A vision board will keep you motivated towards cultivating better money habits.

#37 Your finance goals

It is what you would want to accomplish with your money and so, it needs to have an amount and the duration to reach it.

#38 Love thyself

If you value yourself then you will control your finances and save yourself from debts.

#39 Set small steps to glory

Divide your goals into small steps to reach them quickly or else it might seem like a never-ending dream.

#40 No Toxic Money thoughts

Always think positive when it comes to handling money or debts. Toxic thoughts can pull you towards failure.

Summing up

Before you cling on to your finance plan, choose your options well be it an investment you make, the bank you choose etc. Hope these 100 personal finance tips will help you to handle your finance better!

5 Important Steps To Shape Your Personal Finance Management

What if there was a shortcut to handle money?

We all would love to get the knack of it and would never get stressed with finances. Do you have the feeling the money just slips out of hand and there’s no room for savings?

Then, all you need to do is scrutinize your financial records and know how to spend your money. Remember that it’s never too late to start especially when it comes to giving a new shape to your personal finance management. There are 5 important steps that will be able to help you with handling finance in a better way and become a pro with personal finance management.

If you feel you’re not able to manage your money, then it’s time to change the way you handle your finances. We share with you 5 essential steps that embark on analyzing your weak areas and shows how to improve in those areas for better personal finance management.

5 steps towards your personal finance management:

Step 1. Get rid of your debts as soon as you can

Debts should be the last thing you would want to have especially when you’re struggling with financial management. As it can ruin every plan of yours, it’s essential to get rid of your debts as soon as possible. Debts can add up in a single day but get rid of them might take years. The following steps would help you to make a debt management plan:

• List down the debts based on the amount and interest rates

• Start making payments towards the ones with higher interest rates and eliminate them soon

• Make minimum payments towards the rest and follow the same hierarchy

• Sell your unused stuff to pay for the debts

• A second job would also help to clear off debts soon

• Never fall into a new debt until you clear off the old ones

Step 2. Create financial goals to save for

Financial goals would keep you focused on your personal finance management and motivate you to save for something that you love or need. Your financial goal can be anything be it getting rid of debts, buying a home, a vacation etc. The next thing you would want to know is how to create financial goals.

How to create financial goals:

• List down the things you would want to do in life and spend your money on. Categorize it as a short-term or long-term goal.

• Prioritize each goal and fix an amount for it along with a timeline

• Start saving money based on the priorities

• For goals like saving for retirement, which is a long-term goal, you can get the benefits from your employer with IRA and 401(k) accounts.

Step 3. Know your weak areas and plan to reach your goals

Once you have your list of financial goals ready, the next step is to plan on how to reach the goals. Your financial plan should help you with saving money, getting out of debts and have a workable budget. It is very important to be steady and regular with the plan. You can see the results only when you follow it regularly.

The planning phase:

• The planning phase begins with analyzing your weak areas. Track down every expense you make to know where your money goes at the end of the month.

• Once you have the expense report ready, make a budget

• Now, look for ways to free up some cash and pay off the debts

• Meanwhile, start contributing towards the essentials such as emergency fund, retirement account etc. irrespective of the state of the financial plan

• Start investing money based on the risk you can afford to double up your savings

Step 4. Create a budget and stick to it

The personal financial management plan would work only when you’ve workable budget and you stick to it no matter what. A budget would help you to spend and save money effectively. You can even use budgeting apps to track your expenses and cut down on unnecessary spending.

Step 5. If in doubt, ask someone

When you’re all done with clearing debts and left with money to invest, then consult a financial advisor. You can even check with someone you know and trust, who deals with the same profession to guide you on investment options and financial management knacks as well. It’s good to ask someone and get guidance on the things that you don’t know or new to it.

Summing up:

No one is born perfect and same is the case with personal finance management. Every small mistake you do would surely teach you something. It is very important to channelize your focus on the way you handle every single dollar. Follow the 5 steps mentioned above and you will be able to see the difference in the way you handle your finances.

How to Improve Your Finances Once You’ve Been Treated for Drug Addiction

When you’re dealing with a drug addiction, it’s easy to see how this can take a toll on your health and well-being. What many people don’t realize about drug addiction is that it can literally ravish your financial standing and cause you to deal with money problems that you’ve probably never faced before. Many drug addicts are so broke that they are forced to live with friends, family and even on the street. Overcoming and being treated for a drug addiction is crucial to stopping the vicious cycle of being paid and spending that money on drugs, but work needs to be done afterwards to ensure that your finances fall back on track.

Why Finances Can Be a Problem After Drug Addiction

There’s a pretty good chance that if you were once addicted to drugs, that you spent a good majority of your income on the drugs that were being used. Whether these includes illegal street drugs or prescription drugs, the price you paid for drugs was probably extravagant and exhausted all of your finances in practically no time. Other people with addiction problems borrowed money from friends, family or even lenders so that they could keep up with their addiction. This results in having to pay back all of these people so that your credit isn’t destroyed in the process.

Where to Start

The best thing to start with is to stop the vicious cycle of spending your income on drugs. If you haven’t already gone for drug treatment, now is the time to do so. If you have gone for treatment but are relapsing, it’s crucial that you seek help as soon as feasibly possible. Next, you’ll want to start by taking account of all of your finances and bills. If need be, rely on government assistance programs so that you can get yourself back on your feet. For example, staying in a halfway house after drug treatment is often free or incredibly low cost, so you will have the opportunity to save up money while staying there.

Understanding Relapse

Many people believe that relapsing is part of overcoming a drug addiction. Understand that relapsing can be long-term and short-term. If you’re noticing that you’re beginning to relapse, seek help right away so that you do not go back down the path where you’re spending all of your money on drugs. Most drug treatment programs will prepare individuals for relapse and what they need to do in order to get out of the addiction quickly once relapse occurs.

Working with a Financial Adviser

Financial advisers often charge for their services, but they can be a viable option for those who have had their finances ravished by a drug addiction. The adviser is going to be the one to help you work through the income you’re currently earning and then put some towards renting an apartment or buying a home. They can also help with investing, which is crucial if you are starting out with a small amount of money and need it to grow as quickly as possible.

Working and Assistance

It is essential that you work after coming out of a drug addiction. This is because you will probably not have much income coming in and will need the money to continue your life and begin living a life that is drug-free. While many jobs do background checks, it is best to be totally honest about your past so that nothing comes up as a surprise when the company is running a background check. If you’ve had issues with drugs before, many government assistance programs will not only help you financially, but they will help with housing as well as helping to get you a job that provides a regular income for you. Most drug treatment programs will automatically sign you up for this type of help, but if they do not, it is important that you look at what is readily available to you so that you can take advantage of this to get back on your feet.

Drug addictions can be a major problem because it affects your health and your entire life. You will also find that after having an addiction problem, it’s difficult for you to get back to where you’re living a financially stable life. In order for you to do this, it is important that you work diligently on your finances right after coming out of treatment. This involves finding work, getting help from both a financial adviser and government addiction programs as well as asking for help when and where you need it. If you have a lot of debt that has accumulated because of a drug addiction problem, you might also want to think about working with a debt consolidation firm so that they can get it to where you either owe nothing or you owe a lot less than what you might have if you had never contacted them. Now is the time to get your life back and know that you’ll be back on your feet in no time.

4 Golden Rules Of Personal Money Management That You Need To Know

Personal money management is all about how you manage your finance, invest your money and control your spending habits. It is something that you don’t get to learn from school but learn from your experience. It might take some years to become a pro with personal money management but learning the basics is easy. To get started, let us understand the basics of personal money management that will help you to get a groove of your money. Once you get started with the basics then you will be able to create a budget that works for you and start saving & investing money.

We share with you 4 golden rules of personal money management that you need to know for a better financial future. Let us understand how these 4 rules would help you to manage your finances in a well-organized way to leave some room for savings and investment.

The 4 Golden rules of Personal Money Management:

#1. Know the basics of personal money management

You would have grown up learning the basics of math but not aware of the basics of money management. The basics are as simple as it sounds. In short, your mindset and your habits would define your financial future. Let us start with the basics first:

• Your expenses should never exceed your income

Are you spending more than what you earn and falling in the heap of debts? Then its time to analyze your expenses and know where your hard-earned money goes at the end of the month. If you spend less than you earn, then you’ll have some money left which you can use wisely (either save or invest or do both)

• Look for alternate ways to get more income

Never get satisfied with one income if you wish to become financially secure. You can get second income through lots of ways such as share your knowledge and take tuitions, sell your art, write reviews, blogs etc. A second income would help you to clear off debts soon, reach your financial goals faster or have more savings.

• Start saving as soon as you start earning

The common mistake which everyone does is start saving only when retirement is nearing. If you start saving as soon as you start earning, you would end up retiring as a millionaire.

• Spend every penny wisely

Every penny you spend matters, so it’s better you spend it wisely. Spend on the things that you need and not want, there’s a thin line between both.

Clear your debts before the deadlines

To avoid paying for the extra interest on the debts, clear off the debts before it crosses the deadlines.

#2. Create a workable budget and follow it

The next important rule is to create a workable budget and stick to it. All you need to do is list down your monthly expenses and income (in separate columns). Now, separate out the essentials such as rent, utilities, phone bills, groceries etc. Analyse the rest and look for the areas where you’re over-spending. Fix an amount to spend every month based on your income and the necessary expenses. For sure, you will be left with some money to save or invest. This is how you make a workable budget.

#3. Use the right tools in the right way

How to save money effectively- should you invest it on something or save in bank accounts? More than just saving money, it is important to do it in the right way.

Look for investment options based on the risk you can afford

If you started managing your finances well, then you would be left with some savings. If are planning to invest it, then you need to know about the risks involved, profit share etc. You can invest that money in stocks, bonds etc. Before you decide on investing, know about the risks involved.

• Pick the bank that gives you better interest rates

When you choose to save in bank accounts, it’s essential to know about the interest rates, minimum fee, fixed deposits etc. Make a list of the local banks with the interest rates they offer and then choose the one that suits your needs.

#4. Start saving for the future, today

Don’t wait for the right time to start saving for your future. The simple motto is starting soon, save soon. When you’ve just started earning, it might look difficult to save. But even if you manage to put a $100 into your savings, it would make a huge difference in the long run.

Summing up:

Getting hold of your finances is not that easy and doesn’t happen in a day. You will notice a difference in the way you handle your finance, once you understand and follow the 4 golden rules of personal money management mentioned above.

The Basics of Buying A Car

Buying a car can be an intimidating experience: you’re preparing to fork over a big chunk of your hard-earned savings; you’re committing to a significant monthly expense; and you might not know enough about cars to feel confident as a buyer. If you’re preparing to buy a car, whether new or used, these basic principles will help you when it’s time to make your purchase.

Determine your must-haves

Make a list of must-haves and nice-to-haves, and then keep this information close by when it’s time to start shopping. Start by reflecting on why you need a car so that you can determine your priorities.

  • If you’ll be on the road a lot, fuel economy will be important so that you’re not wasting lots of money on gas.
  • If you’re driving in the city, you might want to consider a smaller car that will be easy to maneuver and park on congested roads.
  • If you have a family, space for car seats and strollers might be a priority.
  • If you take a lot of road trips, a navigation system could make your life a lot easier.

Create a budget

Owning a car isn’t cheap, but it shouldn’t break the bank either. Before you start looking at cars, its important to determine how much you can afford for a down payment as well as monthly car payments if required.

This is a good time to do some research on the true cost of car ownership; the average Canadian spends around $9000 a year on one vehicle. If you’re like most people, you need to plan for this expense. You’re not just budgeting for your monthly payments, but also for insurance payments, gas, regular maintenance, licensing and registration and emergency repairs. When you take these factors into consideration, you might realize that you need a lower monthly payment than you originally expected.

Do your research

It’s time to find your dream car! Using your budget and your list of must-haves as a roadmap, start looking into what makes and models best meet your needs. You can start by looking for the most popular cars (people are buying them for a reason) or the most cost-effective cars (your bank account will thank you). You can read reviews online, visit the dealership to ask your questions in person, and talk to friends and family about what they love and hate about their current vehicles. Compare how cars on your shortlist stack up to your budget, your must-haves and you’re nice-to-haves. Don’t forget to research car insurance options. You might be surprised to find that rates will vary from one insurer to the next, so don’t

settle for the first quote you get.

Go for a ride

Studies have shown that almost 16 percent of people forgo a test drive when buying a car, but you shouldn’t skip this important step. For new vehicles, it will give you a sense of whether or not you feel comfortable driving the car and will help you decide if it meets your expectations. When you’re stuck between two comparable options, the test drive might make the decision for you. Test driving becomes even more important when you’re buying a used car, as you’ll get a feel for whether or not there are little problems or quirks that the owner failed to mention.


For a lot of people, negotiating can be the toughest part of buying a car – but you might lose money if you skip this step. You’ve already done the groundwork for your negotiation through your research and budgeting: you know what questions to ask and what you can and can’t afford. Be prepared to say no to extras the dealer tries to tack onto your sale price and ask to cut administration fees. Also, you might be able to negotiate a better price depending on the timing of your purchase. Many dealers who are looking to make monthly or yearly quotas offer better deals at the end of the month or year, or during the winter when sales are slower. If you’re buying a used car, your research should give you an idea of whether the seller’s price is comparable to others in the market. You also might want to have the car inspected to determine if there are any pending repairs that will cost you additional money so you can knock those extra expenses off the sale price.

Whether you’re buying new or used, you’ll be investing a lot of money upfront and long-term to your purchase. This isn’t a decision that should be rushed, so take your time, do your research and commit to finding a car that you’ll love driving for the next few years.

8 Expert Financial Planning Tips for You

With the onset of New Year, it becomes a huge task to re-create or modify your financial goals for a better saving.  Everyone gear up to plan their financial goals so that the upcoming year yields better results than the previous. If you’re a beginner, then you might be baffled with where to begin.

Here are 8 financial planning tips from the leading financial planning thought professors and leaders that can guide you to take your financial planning to a noteworthy stage.

8 expert financial planning tips for a financially secure future:

Boost up your retirement savings:

The best thing that would make you financially secure is having enough savings in your retirement account (401(k) or IRA). There are simple yet powerful ways to boost your retirement savings.

Professor David Littell from the American college of Financial services, shares the 3 secrets to maximize your retirement savings. They are:

Secret 1:Put your savings on autopilot

In order to auto-transfer a part of your money towards your saving, you can choose from options such as paying down a mortgage, automatic monthly withdrawal from your checking account or salary deferrals to 401(k) plans.

Secret 2: Fully utilize the tax

Utilize the advantaged retirement vehicles such as IRAs and Roth IRAs to the best extent possible.

Handle your debts wisely to become debt-free!

Each one of us wishes to be debt-free but might not have a strategy to work on. If you wish to stay clear of debts, then you need to have a strategic debt management plan. The debt management plan includes paying off the most expensive debt first and then followed by the less expensive ones.

Look for long-term investment plans

As stated by Professor Robert R. Johnson, President and CEO, The American college of financial services:

“Success in investments is a marathon and not a sprint.”

In the initial stages, you might look for options to get immediate return which is actually quite difficult. Firstly, you need to have an investment strategy and stick to it irrespective of the market conditions. The success in stock markets can be achieved by showing up and sticking to it for the long-term.

Engage your loved ones in money matters

It is always good to have transparency in any relationship especially in the context of money matters. Hiding financial secrets can have a negative impact on your relationship. Building a shared financial vision about future goals can strengthen your relationship and it would become easy if you have extra contributions to it. As a parent, take time for your kids to teach them about handling money as this can be a foundation to their upbringing.

How about reallocating your investments?

It’s never too late to reallocate your investments. If the current plan doesn’t work well for you, it’s no harm to try a different option. Keep an eye on the market trend and update your investment portfolio accordingly.

Review your insurance coverages

When did you review your insurance coverage last time?

If you haven’t thought about it, do it now and often on a regular basis. It is always better to ensure if the coverage amount is still consistent with your original needs. You need to review all the insurances that you have enrolled yourself in such as life insurance, health insurance, car insurance, disability insurance and house or any property insurance. Insurance is one of the crucial factors for a financially secure future.

Find ways to maximize your flexible spending accounts(FSAs)

Most employers offer a range of flexible spending accounts (FSAs) such as dependent care costs, medical expenses etc. It would be wise of you to make the best use of these options and grab it once offered. The best thing about saving in these accounts is that there is no tax for this money. So, start looking for ways to maximize your FSAs so that you can save thousands of dollars in tax savings.

Don’t neglect your estate plan!

The 2 key factors in comprehensive financial planning are estate planning and emergency planning for families. Every one prepares for the emergency and saves some amount as emergency fund. But why neglect an estate plan? I might sound quite depressing to prepare in advance for premature death planning. But what will happen to your family needs and will there be any assets to take care of your final expenses along with your family needs.

Summing up

A proper workable plan is a powerful tool in financial planning. We have shared quite a few important tips that would help you build the right plan towards a financially secure future. The motto is simple try to clear debts fast, automate your savings and calculate all expenses.

Things You Should Know Before Venturing Into The Forex Market

Despite the tales you have heard of business magnets striking it big at the forex markets, just about anybody can also make a kill if they learn the basics. Although forex trading is not exactly rocket science, you may lose all your life’s savings in a twinkle of the eye if you get it all wrong. Many people have made millions in these markets, but much more have lost millions in the very markets.

You can avoid the downward path of wannabes, and trade successfully on these markets if you consider the following basic tips:

Forget the hype

Tales of people who became overnight billionaires from the forex markets abound, tempting you to use your family’s fortune. You may be putting yourself up for a rude shock, and may not survive the aftershock. However, you can still win if you exercise discipline, patience and a sober mind frame. Define your goals and work towards achieving them gradually. Ignore the hype because it may drive you into making rash decisions.

Lose interest in vacations

If you are a first-timer into the world of forex trading, you will do well to steer clear of the family savings and any other money for the essentials. If you are going to risk any money, it should be that amount you have set aside for a holiday in Honolulu at the end of the year. Stake only that money that you can afford to lose.

Read widely

It would be utter folly to engage in the risky and highly volatile foreign exchange markets without outstanding research. You are going to make friends with financial markets literature so that you can learn to read the signs. Read about the best trading practices in magazines, newspaper, and from websites of financial services companies, such as CMC Markets. You also need to watch television channels and listen to in depth analysis from forex experts. Plunging into the forex markets would be akin to committing financial suicide.

Different baskets for your eggs

When venturing into the financial exchange markets, use the oldest trick in the book: never place your eggs in one basket. Instead of risking all your money in one trade in the hope of winning big, try your hand in several small trades so that a loss in one would be compensated by a possible win in the other. If you happen to earn a substantial sum, avoid the temptation to splash all of it back into the market – you may lose everything! Avoid trading in a single currency. It only takes a change in political temperatures in the Middle East, and everything falls apart. Spread out your risks in several trades and currencies to be on the safe side.

Keep a level head

You can survive in the foreign exchange market if you can manage to resist the temptation of being greedy. You may be having a good day at the market, but you should avoid getting too anxious and excited. If your exploits at the market get into your head, they may make you throw caution to the wind and engage in risks you otherwise have avoided. Stick to your original plan no matter how much your instincts tell you to extend the stop loss or move that take profit.

The foreign exchange market offers high and quick returns on your investments, but can be just as treacherous. Just don’t listen to the hype and keep focused when making a move. Remember to do a lot of research before choosing your trade because you must read the signs accurately. Use only that money that you can afford to lose, not your family fortunes.