Financial Planning

I forgot to mention, I met with a financial planner this week. I almost want to laugh when I say that. Actually, I will... LOL!

Why am I laughing? Because it's almost embarrassing to meet with a financial adviser over such a measly amount like I got. But, it's like he said, you gotta start somewhere and it's always better to start sooner than later and a little late is always earlier than later. Makes sense? In other words, just jump into it.

I don't know much about IRAs, mutual funds, futures trading, investment funds, and such so I just rely on guys like him (the financial adviser dude) to handle my investments for me. Finance and my brain just don't mix well, you know? It's like oil and water. Start talking investments, interests, annuities and all that and you've lost me. HOWEVER, just because I'm an investment dummy doesn't mean I shouldn't invest. I NEED to invest what little money I have because I have daughters going to college and I do not like to eat cat food in my old age. So, my tip for today, even if you don't think you have anything to invest (which you do even if you're earning minimum wage, you can start saving) or know anything about investing, I suggest start saving NOW. When they say pay yourself first it doesn't mean pay yourself and go shopping. It means pay yourself and save it.

Breaking Habits

TGIF! Went out to lunch today at On the Border for my co worker's birthday. I found out something about me that has changed today. I started to refuse to go to lunch because 1) I didn't have any cash on me and 2) I gave my husband my debit card this morning so he can go to the ATM and draw some cash for me to spend this weekend. The revelation came when, after my quick, "sorry, can't go, no money" reply was, I had a credit card on me!

No, no, it's not that it's so unusual for me to have a credit card on me. It's the fact that I did not for once consider my credit card as a source of money. There was a time when it was second nature to count my available credit balance as part of what I have available to spend. Like it was cash in the bank or something. So, I was rather proud of myself today and did not feel at all guilty splurging on lunch and putting an activity on my long dormant credit card. It was an emergency after all ;)

Interest Free Credit Card

We have all bemoaned how we are being taken advantage of by credit card companies and the soaring interest rates and fees. If you had gotten yourself in a position where you are paying higher interest rates because maybe you missed a payment or were late sending a payment, you may be able to remedy that situation by applying for an interest free credit card. Although the interest free offer is an introductory offer for the first twelve months only, this may give you enough time to catch your balance up without the added high interest. But once you get your balance paid off, don't you go crazy and shop up to your limit again ;)

Kids and Money Tips

My girls think they are the luckiest girls in the world. And they are. Who goes on a month long vacation and come back home richer than they left? Their wallets are bursting with cash (not really, but you know what I mean) from grandparents and aunts and the weird thing is, they are not even itching to spend it as their shopping needs have also been totally satisfied by their aunts and grandma. Now all they want to do is run to the bank and save their loot. They have pretty good sense, if I do say so myself.

However, they can probably do a lot more about handling their money. Earn Smart - Spend Smart is a site tailored parents regarding kids, teens and money. The site provides great parenting tips on how to not only allowing kids to have some fun, but also tips on handling and investing money for your kids. Regular savings accounts, although a good start, are just not enough anymore. Smart spending and investing is also crucial in teaching kids and teens how to handle their money.