Personal Finance News Saturday 6/29

Phil's Personal Finance Tip of the Day:

Make like a pencil and get the lead out
By Harvey Mackay

A young boy asked his mother what he should do in order to be a success when he grew up.  The mother thought for a moment, and then told her son to bring her a pencil.  Puzzled, the boy found a pencil and gave it to her.

“If you want to do good,” she said, “you have to be just like this pencil.”

“What does that mean?” her son asked.

“First,” she said, “you’ll be able to do a lot of things, but not on your own.  You have to allow yourself to be held in someone’s hand.

“Second, you’ll have to go through a painful sharpening from time to time, but you’ll need it to become a better pencil.

“Third, you’ll be able to correct any mistakes you might make.

“Fourth, no matter what you look like on the outside, the most important part will always be what’s inside.

“And fifth,” the mother finished, “you have to press hard in order to make a mark.”

Great advice.  His mother touched on five important topics – teamwork, being able to accept criticism, correcting mistakes, self-confidence and working hard.  Let’s take them one at a time. Teamwork.  As I like to say, even the Lone Ranger had Tonto.  You can’t do it all alone.  My definition of teamwork is a collection of diverse individuals who respect each other and are committed to each other’s successes.  Teamwork sometimes requires people to play roles that aren’t as glamorous as they’d like.

For example, I once asked a symphony conductor which instrument is the most difficult to play? 

Without missing a beat, the conductor replied:  “Second fiddle.  I can get plenty of first violinists. 

But finding someone who can play second fiddle with enthusiasm is a real problem.  When we have no second violin, we have no harmony.”  And you just can’t be successful without harmony or teamwork.

Criticism.  Giving and taking criticism is no easy task, but it is necessary if you want to become better.  If you ignore the problem and hope it goes away, you are not going to improve.  Every office I’ve ever worked in or done business with has been made better because of suggestions or criticisms of the people who spend their working hours there.  No one ever choked to death swallowing his or her own pride!  Admit you aren’t perfect.  Remember that the goal of honest criticism is to make you better than you were before.

To read the entire article By Harvey Mackay:
http://harveymackay.com/column/make-like-a-pencil-and-get-the-lead-out/


Inspirational Quotes@Inspire_Us from Twitter:
A happy person is not a person in a certain set of circumstances, but rather a person with a certain set of attitudes. -Hugh Downs

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Friday 6/28

Phil's Personal Finance Tip of the Day:

First person: How my family saved $1,281 a year on our cable bills

Here's one family's true story about how a few phone calls saved them more than $1,200 a year on their cable TV and Internet service.

By Terence Loose | Yahoo! Homes 

 

 

Do you feel like the cost of entertaining your family with cable TV and Internet is running a little steep?

 

Well, with a few polite phone calls to your cable company, and perhaps one of their competitors, you might be able to lower your cable and digital services bill.

And before you scoff at the idea, consider what a May 2013 Consumer Reports telecom survey found: Of the surveyed respondents who negotiated the rate on their triple- or quad-play bundle, about 44 percent reported savings of up to $50 a month.

 

I know. You don't believe you can save money on your cable bill. I didn't either, until not only I, but my younger sister, and my mother all saved tens of dollars every month by sacrificing less than 30 minutes apiece to customer service.

Each one of us went about it a little differently, though, so read on for our stories and pick the style that best fits you for a chance at savings. Because, frankly, if my mom can do it, anyone can.

Terence Loose's Approach Saves $381 per Year

Like most suburban middle-class households, my cable bill ran on autopilot: Around the second of every month, I got my Oceanic Time Warner cable TV and Internet bill and promptly ignored it.

Then some automated system removed $143.35 from my bank account and I went on with my TV watching and Internet surfing. I knew that the promotional deal I received when I signed up had long-since vanished and my rate had increased, but I figured there wasn't much I could do about it.

 

Then I spoke to Jeff Blyskal, a senior editor at Consumer Reports, for a story on how to lower your digital services bill. One of the things he told me was, "What we recommend is that when the price goes up after the promotional deal ends, don't just sit there and take it. We suggest that you bargain to keep the price down."

 

About two months later, I sprang into action and checked the Internet for the cost of my services from my cable company. It was not $143.35. For new customers, the cost was under $100. So I called customer service.

After speaking to woman I'll call Sally for about 10 minutes, explaining that it was very annoying that I, a loyal customer for over four years, was paying over $40 more per month than other customers, she assured me that she could help me out. I thought, "Wow, that was easy."

Then she offered to drop my monthly Internet modem lease fee: total savings, $3.95.

That simply wasn't enough, so I added that I could always switch to DISH satellite service (something Blyskal said to say). But Sally held firm and I could see I wasn't going to get far. So I asked for a supervisor and was promptly switched to John (not his real name either).

John was super-nice and asked what webpage I was getting my under-$100 figure from. I told him and he said, "That's our mainland rate; I'm sorry I can't give you that."

I live in Oahu, Hawaii.

 

I prepared to dig in, then he said, "But I can lower your bill to $110. That should save you some money." After local taxes, my monthly bill for digital cable and Internet came to $111.55.

I thought about bargaining some more, but frankly, I'm that guy who pays full price to the hat salesman at the flea market, so I said "thanks" and declared victory.

Total savings: $31.80 per month / 381.60 per year
[Do you want to save money on your cable bill? Click to compare rates from providers in your area.]

 

To read the entire article from Terence Loose | Yahoo! Homes :

http://homes.yahoo.com/news/family-saves-1281-on-cable-234332222.html

 

 

Inspirational Quotes@Inspire_Us from Twitter:
I don't measure a man's success by how high he climbs, but how high he bounces when he hits bottom. -George Patton

 

 

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Thursday 6/27

Phil's Personal Finance Tip of the Day:
6 Ways to Prepare for a Medical Emergency Now

By Gerri Detweiler | Credit.com 

Michelle wants to buy a home but can’t get a loan. The problem? An emergency room bill from six years ago that is listed on her credit reports as severely past due. John is fighting a $406 bill he received after being seen in the ER for what the doctor diagnosed as a case of the flu. And Jerry is struggling to pay over $1,300 in ER copays on his limited Social Security income. These are just a few of the many stories readers have shared with us describing their debt problems following a medical emergency.

While someone with a serious or chronic medical problem might expect to wind up in the emergency room or hospital periodically, no one plans to get the flu, break a bone or get in a car accident.

More than 54 million people reported having trouble paying medical bills at the start of 2012, according to a survey from the Centers for Disease Control. And medical bills are often cited as a major contributor to bankruptcy.

How can you prepare so that a medical emergency doesn’t wipe you out financially? Here are six strategies:

Research Local Hospitals

When our reader Quentin’s daughter injured her ankle, he and his wife took her to the emergency room. They suspected a broken ankle. After X-rays were taken, they were told their daughter had no broken bones, and she was sent home with an ankle brace. That wasn’t the end of it though:
Two months later we get a bill from the hospital for $1500.00. They stated that my wonderful Blue Cross/Blue Shield (Federal) wouldn’t pay the bill. I call my Insurance Co and find out that the Hospital isn’t (a Preferred Hospital). Then I get an Insurance statement from BCBS stating that they covered the xray bill ($900). Then I get another bill from the Doctor (which my daughter or wife never saw) for $950. Again BCBS stating that this Doctor wasn’t a preferred provider. So I appeal the bill with BCBS and they agree to pay the $1,500 hospital bill, but only $250 of the Doctor bill. So now I’m getting $700 Doctor bills in the mail.

If you have health insurance, make sure you know the locations near your home, work, and/or children’s schools that participate in your health insurance network. Not only will you save money by going to an “in network” provider (which usually means lower out-of-pocket costs), these providers must agree to a fee schedule negotiated by the insurance company. If the amount they charge is higher than that, too bad. They can’t “balance bill” patients for the difference.

A warning, though: the physicians you see at an emergency room may be contractors of the hospital and therefore may not participate in your insurance network. It’s nearly impossible for patients to know this; but you certainly can try to ask – provided you are not in severe pain or unconscious when you make it to the hospital.

Before you travel, do the same thing: find out how your insurance company handles care outside your local area and scout out participating hospitals and urgent care providers.

Don’t have insurance? Request information about local hospitals’ financial assistance policies and review them to figure out which ones may be willing to work with you to reduce the bill.

To read the entire article from Gerri Detweiler | Credit.com: 
http://finance.yahoo.com/news/6-ways-prepare-medical-emergency-110031028.html

Inspirational Quotes@Inspire_Us from Twitter:
Be faithful in small things because it is in them that your strength lies. -Mother Teresa

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Wednesday 6/26

Phil's Personal Finance Tip of the Day:

Beware of These Online Retail Pricing Strategies

By Susan Johnston | U.S.News & World Report LP 

From free shipping to rapidly fluctuating prices, here's what consumers should know about new strategies in online pricing and marketing.

In e-commerce's infancy, a few key players competed for business online, so comparing prices and shopping online was relatively simple. Now, as big retailers gain market share and startups roll out innovative new strategies for pricing and marketing, identifying the best value is anything but clear-cut for the average consumer.

In fact, fluctuating prices and abandoned shopping carts mean the price you pay for a new camera or leather couch may be a lot different than what your friend pays, even if you buy from the same online retailer. Here's a look at several trends to watch.

1. Fluctuating prices. Thanks to dynamic pricing, which is used by retailers like Amazon, online prices tend to fluctuate more than prices in physical stores. Online stores can easily update prices minute by minute, but "in a physical store, they're not going to go around and retag everything," points out Niraj Shah, CEO of Wayfair.com, an online retailer for home products and furnishings.

Prices might vary depending on an item's popularity, your proximity to a brick-and-mortar store carrying the same item or other intelligence gathered through Internet cookies. "With popular items, the volatility of the market will be higher," says Arie Shpanya, CEO of WisePricer.com, which helps companies monitor and adjust pricing. "Electronics is the category that's having the most price change." Keep in mind that if you see a price you're happy with, you may want to buy right away because the price might be higher or lower when you refresh the page.

[Read: How to Avoid Online Ticket Scammers.]

Some retailers have been accused of discriminatory pricing based on information gathered about the customer - for instance, past buying history, whether the customer browsed a price-comparison website first and their location. "If I'm shopping from my office or my home, I might get two different prices," Shah says. For more expensive purchases, try checking the price on multiple devices, such as a laptop, tablet and smartphone, to ensure you're getting the best one.

To read the entire article from Susan Johnston | U.S.News & World Report LP:http://finance.yahoo.com/news/beware-online-retail-pricing-strategies-135504470.html



Inspirational Quotes@Inspire_Us from Twitter:
The man who does not read good books has no advantage over the man who can't read them. - Mark Twain


Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Tuesday 6/25

Phil's Personal Finance Tip of the Day:

5 reasons we're glad we refinanced to a 15-year mortgage

By Kristie Farnham | Yahoo! Contributor Network 

My husband and I purchased our home in Hudson, Wis., in 2011 with a 30-year mortgage. In the months following our move in, we found ourselves questioning that 30-year term. Currently in our 30s, it dawned on us that we would most likely have grandchildren before our mortgage was paid off.

Sure, we could pay it off sooner by making extra payments each month, but we knew it would be difficult for us to follow through unless that payment was a requirement, not a mere option. We decided to reevaluate our finances and look into shortening the term of our home loan.

So in August 2012 -- just a year after buying our house -- we refinanced. We went from a 30-year 4.25 percent mortgage to a 15-year loan at 3.375 percent. Our monthly payment increased by over $350, from a principal and interest payment of $875 a month to $1,229.

This increase was not insignificant in our budget. We had to make changes in our lifestyle, including restraint when it came to purchasing things that we didn't necessarily need.

Now in Summer 2013, a year after our refinance, there are several reasons why we are pleased with our decision.

1. Savings. Our initial 30-year loan was for approximately $177,000 at 4.25 percent, which meant we would have been charged more than $136,000 in interest. Our refinanced 15-year loan is for about $173,000 at an interest rate of 3.375 percent, which reduces our finance charges to around $48,000. So, while an interest rate differential of .875 percent may not seem like much at first glance, our interest savings as a result of refinancing amounts to over $88,000.

[Want to refinance and save on your mortgage? Click to find a lender now.]

2. Money for college. In 14 years, our two older children will be in college and our youngest will be a sophomore in high school. We save as much as we can every month but realize that it may not be enough to cover the costs associated with putting these three through college. By eliminating our mortgage early, we will have extra money to count on when the bills for higher education start rolling in.

To read the entire article from Kristie Farnham | Yahoo! Contributor Network :http://homes.yahoo.com/news/5-reasons-were-glad-refinanced-15-mortgage-171700719.html


Inspirational Quotes@Inspire_Us from Twitter:
The brick walls aren't there to keep us out, the brick walls are there to give us a chance to show how badly we want something. -R Pausch


Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Monday 6/24

Phil's Personal Finance Tip of the Day:

Midyear Tax Moves to Save on Your 2013 Return
Smart planning now could save you big bucks when you file next year.

By Sandra Block, From Kiplinger's Personal Finance, July 2013

Shelving your taxes until next spring could cost you money, especially this year. The tax law passed earlier in the year as part of the deal to avert the fiscal cliff imposes a new 39.6% marginal rate on taxable income over $400,000 ($450,000 for married couples). Taxpayers in this bracket will pay 23.8% on dividends and long-term capital gains — not the 15% rate that applies to most investors.

 

See Also: The Most-Overlooked Tax Deductions

Other changes reach down the income chain. Taxpayers with adjusted gross income of $250,000 or more ($300,000 for married couples) will effectively pay higher marginal rates because Congress resurrected phaseouts of itemized deductions and personal exemptions. And taxpayers with modified adjusted gross income of $200,000 or more ($250,000 for married couples) face a new 3.8% surtax on net investment income.


Read more at http://www.kiplinger.com/article/taxes/T055-C005-S002-midyear-tax-moves-to-save-on-2013-return.html#hCqqsVMmXwW71Gl1.99


Inspirational Quotes@Inspire_Us from Twitter:
Take the first step in faith. You don't have to see the whole staircase, just take the first step. -Martin Luther King Jr.


Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Saturday 6/22

Phil's Personal Finance Tip of the Day:

Smart Ways to Clear Clutter and Streamline Your Life

Real Simple readers share inspired life-organizing ideas.

Donate Household Stuff Weekly

At least once a week I find 10 things I can donate, give to friends, or throw away. I think better when I am not surrounded by clutter. Our whole family relaxes more when we are not in a pile of toys, newspapers, and magazines. It has taught us all to value a few good things rather than acquiring masses of objects that don't enhance our life.
Megan Shachat, Seattle

Next: Follow the Five-Minute Rule

 

 

To read the entire article from Real Simple readers:

http://www.realsimple.com/home-organizing/organizing/clear-clutter-from-your-life-10000001035448/index.html

 

 

Inspirational Quotes@Inspire_Us from Twitter:
If it wasn't hard, everyone would do it. It's the hard that makes it great. -Tom Hanks

 

 

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Friday 6/21

Phil's Personal Finance Tip of the Day:

How to Get the Best Deals at Thrift Stores

By Jeffrey Strain, Saving Advice.com

 

While it might be a bit more difficult to score great deals today than a few years ago, that doesn’t mean that the great deals no longer exist. They’re there if you know how to find them. I find that there is a sort of art to scoring great deals while thrift shopping. Here are 10 strategies I use to get the best deals at thrift stores:

Neighborhood Counts

When you go to a thrift shop, one of the biggest mistakes that many people make when looking for great deals is that they go to the closest shop to them. What you really want to do is go to the store which is located nearest those who have the highest income in your area. The reason for this is simple. Those people who donate with higher incomes often donate more expensive items and clothes. While these may eventually make their way to the other stores in the area (stores located in higher income areas often get more donations than they can use and send surplus to other stores that don’t get as many donations, but it is usually items that haven’t been selling on their store, not new items that have just arrived), you have the best chance of scoring a really good deal at the thrift shops located in higher income areas.

Know the Stock Day

Unlike regular stores which constantly restock items on their shelves, thrift stores often only restock a couple of days a week, with one day usually being the main restock day. Knowing this day and getting their early on it gives you the opportunity to look at the newest items on display before anyone else increasing your chances of finding a great deal than if the item had been on the floor for a few days. You can simply ask one of the workers and they will almost always be willing to tell you their restocking schedule.

Return Regularly

If you’re hoping to get good deals, you have to go to the thrift shops on a regular basis. You never know when something great is going to come in. Sometimes great deals arrive weekly while other times nothing good seems to come in for months. Since they don’t carry standard merchandise like regular stores, but simply sell whatever is brought in, it’s important to go consistently if you are to score the best deals. The more consistent you are in going on a regular basis, the better chance you have of being there when that great deal is put out on the floor.

To read the entire article from Jeffrey Strain, Saving Advice.com:
http://www.savingadvice.com/articles/2013/06/18/1015894_how-to-get-the-best-deals-at-thrift-stores.html

Inspirational Quotes@Inspire_Us from Twitter:
Failure doesn't mean you are a failure... it just means you haven't succeeded yet. -Robert Schuller


Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Thursday 6/20

Phil's Personal Finance Tip of the Day:

I Will Graduate with $100,000 in Loans

By Jennifer Liberto | CNNMoney.com 

When Kelly Mears graduates from Union College in the summer of 2015, she will have $100,000 in student loans.

Armed with a political science degree, Mears will join more than a million Americans who have racked up breathtaking amounts of student debt.

 

Mears is also one of 7 million undergraduates caught in the middle of a debate in Washington over government-subsidized student loans, as interest rates are set to double to 6.8% from 3.4% on July 1.

"It just seems to be a part of the growing American experience to go to school, graduate and work off that debt for the rest of your life," Mears said.

Related: How did this happen?

Super-borrowers with $100,000 of student loan debt aren't the norm. The average student graduates with $27,000 of loan debt.

The New York Fed said those who borrow $100,000 or more are about 3.1% of borrowers nationwide. But it's easy to see how students get there, with four years of private college tuition running $116,000 on average, according to the College Board.

At Union, a small liberal arts school in Schenectady, N.Y., tuition is $58,000 a year, according to its website.

Related: What's at stake

When Mears was ready for college, her parents had just lost their home to foreclosure in Murrieta, Calif. But Mears fell in love with Union College when she started in 2011.

The South California native was attracted by the college's claim that it was affordable, and that it gave out lots of financial help. Mears mistakenly believed that she would qualify for more financial help than she ended up getting.

The school awards more than $60 million in financial aid to students from federal, state and other agencies, as well as from the school's own pockets, said Union College spokeswoman Christen Gowan.


To read the entire article from Jennifer Liberto | CNNMoney.com:
http://finance.yahoo.com/news/graduate-100-000-loans-095900983.html


Inspirational Quotes@Inspire_Us from Twitter:
If you're not making mistakes, then you're not doing anything. -John Wooden

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Wednesday 6/19

Phil's Personal Finance Tip of the Day:

6 Ways to Save Money This Month

By BENJAMIN FELDMAN, Credit.com

We all want to save more money. After all, none of us like the feeling of looking at our bank account (or under our mattress) and realizing that we have no money left and our next paycheck is still a week away. By saving a few dollars here and there, we can get some breathing room in our monthly budgets and hopefully start saving up for future expenses, as well.

This article is for anyone who feels stretched financially. It will give you some ideas on how to save more money each month. Oh, and if you're actually keeping your money under your mattress please go sign up for a bank account! Keeping your money in a federally insured bank account is a whole lot safer than keeping it under your mattress. (You should also have a savings account set up, where you can earn interest as you save.)

Here are the first places you can look to shave some money off your monthly expenses.

To read the entire article from BENJAMIN FELDMAN, Credit.com
http://abcnews.go.com/Business/top-ways-save-money-month/story?id=19431345#


Inspirational Quotes@Inspire_Us from Twitter:
Every day do something that will inch you closer to a better tomorrow - Doug Firebaugh

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Tuesday 6/18

Phil's Personal Finance Tip of the Day:

Story: Reconciling Budget Differences

Scott was a money saver. Tiffany was a weekend spender. How one couple worked through their financial differences.

by Lynne Thompson/Focus on the Family

 

Scott and Tiffany* married at age 23. Scott had just graduated with his Bachelor's degree and starting graduate school, while Tiffany worked full time at an insurance office. Just as it happens to many young couples, it took only a few weeks living under the same roof for them to realize their financial incompatibility.

Here is their story and how they eventually made ends meet.

The problem as newlyweds

Tiffany's perspective: One day Scott called me into the office of our apartment to talk about a budget. I thought a budget was something that involved congress or the president. I had no idea what a personal budget was.

Scott showed me a printout of all of our expenses—everything from gas and groceries to hair cuts and what he called "fun money," which is cash that we could spend as we wished.

"This is how much income we make each month," Scott explained to me. "And each item in the budget shows how we spend it."

I told him that I needed more fun money. $4 a week was nothing.

"Where should it come from?" he asked.

"I don't know, just add it in," I said.

"Budgets don't work that way."

I got frustrated and left the room.


To read the entire article from Lynne Thompson/Focus on the Family:
http://www.focusonthefamily.com/lifechallenges/managing_money/achieving_financial_harmony/story_reconciling_budget_differences.aspx


Inspirational Quotes@Inspire_Us from Twitter:
If your ship doesn't come in, swim out to it. - Jonathan Winters


Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.
 

Personal Finance News Monday 6/17

Phil's Personal Finance Tip of the Day:

How to Create Your Own Money Roadmap

By Kimberly Palmer | U.S.News & World Report LP

Bart Astor's "aha" moment came as he was listening to author Gail Sheehy give a speech about caring for her ill husband several years ago. Sheehy told the story of a doctor asking, "What are your goals for this stage of life?" That question struck Astor as a profound one, and one that he didn't have an answer to himself.

"Most of us who are 50-plus don't have an answer," Astor says. "I don't think we've thought much about goals since we were asked, 'What do you want to be when you grow up?'" So Astor started asking other people in their 50s and up about their goals, and he started writing about how baby boomers can achieve them. His new book, "Roadmap for the Rest of Your Life," grew out of those discussions. Astor, a writer and eldercare expert, recently spoke with U.S. News and shared these six tips for boomers looking to take control of their lives:

Embrace the opportunities of the boomer generation. Boomers grew up during the economically vibrant post-war years, and many of them had unprecedented access to top-notch education, health care and career options. "Our parents created a new middle class that didn't exist before the 1950s," Astor says. "There are so many effects of being in a generation that was the largest and richest this country has ever seen," he adds.

[Read: 20 Hot Money Moves for Summer.]

Women and minorities also broke new ground. "We really did change the world. ... My wife growing up could be a nurse, teacher or just get married. [Those limits] don't exist anymore," Astor says. Boomers also have more of a chance to reinvent themselves and their careers over the course of their lifetimes, he says, and technology makes it easy to launch a small business or telecommute, for example.

To read the entire article from Kimberly Palmer | U.S.News & World Report LP:http://finance.yahoo.com/news/create-own-money-roadmap-143539819.html


Inspirational Quotes@Inspire_Us from Twitter:
We are what we repeatedly do. Excellence, then, is not an act, but a habit. -Aristotle

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Saturday 6/15

Phil's Personal Finance Tip of the Day:

4 Little-Known Reasons to Keep Your Credit Score High

By Chloe Sorvino | Manilla.com 

You probably know that if your credit score is relatively low, it will make it harder for you to buy a car or get a mortgage. But these days, there are countless other aspects of your life that your three-digit credit score impacts. From job prospects to student loans, find out some more reasons why you’ll want to keep your credit score high.

[More from Manilla.com: Financial Tracking and Budgeting Tips]

1. Applying for a job. Although the law varies by state, U.S. law permits employers to investigate your credit score before deciding whether they want to hire you. While they do need your written consent, you may want to think twice before refusing, which could keep you from getting the job anyway. Why do employers care about your credit history? It varies based on industry. For example, banks and accounting firms often look at credit history because positions in those fields could lead to the opportunity of fraud and embezzlement. They want to see how responsible you are and how good you are with your money. If you have a low score, that may signal that you have trouble being responsible with credit payments, and employers may dub you a risky hire for the company.

[More from Manilla.com: Manilla Mini: 5 Money-Saving Resolutions]

To read the entire article from Chloe Sorvino | Manilla.com:
http://finance.yahoo.com/news/4-little-known-reasons-keep-124938067.html


Inspirational Quotes@Inspire_Us from Twitter:
Success is the sum of small efforts, repeated day in and day out. - Robert Collier


Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Friday 6/14

Phil's Personal Finance Tip of the Day:

Budgeting When You're Broke

By Reyna Gobel | Investopedia

Suffering from a lack of cash? It's likely that you don't follow a budget that reflects your earnings. Smart budgeting prevents eviction, increased credit card debt, and ruined credit scores. It's never too late to achieve your financial goals — get started now with these 10 steps to make your financial life less stressful.

Avoid Immediate Disasters
Don't be afraid to request bill extensions or payment plans. These requests are often granted. If your biggest worry is eviction from your apartment, talk to your landlord, but, also, see if you can get extensions on any other expenses to free up money for keeping your home. For instance, suppose that your rent is $650 and you're $200 short. Your bundled phone bill and cable bill is $60, your electric bill is $100 and your cell phone bill is $40. If these bill payments are postponed until your next paycheck, you can pay your rent now and avoid eviction.

[How to Get a Free Credit Score]

Review Credit Card Payments and Due Dates
If you are only making the minimum payments on your credit card(s), you are flirting with a disastrous credit score. However, avoiding credit card payments will only worsen your debt.

For example, suppose that your minimum payment on a $1,000 balance is $40. You fail to pay $40 on time, so you are charged a $35 late fee. In addition, your interest on future charges is charged at the default rate of 25%. Now your credit card is even more difficult to pay off. Before you know it, you have an overwhelming collection of piled up late fees and missed payments.

Prioritizing Bills
Go over all your bills to see what must be paid first and then set up a payment schedule based on your pay days. You will want to leave yourself some catch-up time if some of your bills are already late. If this is the case, call the bill companies to see how much you can pay now to get back on track toward positive status. Tell them you are catching up and going on a stricter budget. Be honest about what you can afford to pay. Sometimes it's instinctual to say you'll pay the full amount on your next paycheck, but you may not have the full amount available after other expenses take their cut.


Inspirational Quotes@Inspire_Us from Twitter:
Ninety-nine percent of the failures comes from people who have the habit of making excuses. -George W. Carve


Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.

Personal Finance News Thursday 6/13

Phil's Personal Finance Tip of the Day:

5 Money Questions to Ask Before You Marry

By Geoff Williams | U.S.News & World Report LP 

If you're planning to ask your special someone to walk down the aisle and to the ends of earth with you, just about every financial expert and a lot of long-time married couples will tell you first: Talk about money before marrying.

You may think you're a perfect match, but one of the biggest compatibility tests for couples is merging finances. And, sure, it may feel like talking about money will kill your romance, but - and not to sound like your mother - is it really that special of a relationship if discussing credit cards and spending habits could actually kill it?

So somewhere between proposing and saying, "I do," here are some key questions you and your significant other should be asking each other.

How much debt do you have? Definitely a romance buzz-killer, but you're going to be marrying this person and sharing their life. You should ask this question, and if you have a lot of debt, you should absolutely volunteer this information.

[Read: The Biggest Money Mistake Couples Make.]

"In an age where student loans over $100,000 are not uncommon, the debt discussion is crucial. Entering a marriage with hidden debt can be a disaster and starts a marriage off with a lot of mistrust," says Anthony Criscuolo, a certified financial planner with Palisades Hudson Financial Group in Fort Lauderdale, Fla.

What's your credit score? Yes, the questions just get more fun. Still, you should ask this one, says Jon Ulin, managing principal at Ulin & Co. Wealth Management, a branch of LPL Financial in Boca Raton, Fla. And if things look really bleak and you believe your future spouse has a money problem, consider asking your beloved to get some financial counseling, Ulin suggests.

"If you feel that your future spouse will never become fiscally responsible and may end up crashing your own credit score, savings and retirement plans, you may want to put off getting married to this person," Ulin says. "I'm not saying that money is more important than love, but more often than not, how couples deal with money can lead to arguments and divorce if not handled effectively. When preparing to get married, you shouldn't assume or overlook anything."

To read the entire article from Geoff Williams | U.S.News & World Report LP: http://news.yahoo.com/5-money-questions-ask-marry-161601395.html

Inspirational Quotes@Inspire_Us from Twitter:
Life may not be the party we hoped for, but while we’re here we should dance. -Anonymous

Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.