Smart Young Money http://smartyoungmoney.com Take Hold of Your Financial Future! Thu, 14 Aug 2008 14:31:57 +0000 http://wordpress.org/?v=2.3.1 en Double Your Salary in Two Years by Yahoo! Education http://smartyoungmoney.com/double-your-salary-in-two-years-by-yahoo-education/ http://smartyoungmoney.com/double-your-salary-in-two-years-by-yahoo-education/#comments Thu, 14 Aug 2008 14:31:57 +0000 admin http://smartyoungmoney.com/double-your-salary-in-two-years-by-yahoo-education/ Two times the salary in two years? The economy is filled with workers perched right on the educational threshold to higher earnings. This sector of the workforce is sitting on a salary goldmine-two years of applied career training away from doubling their paycheck. Are you one of the lucky ones? Find out how trading up to a new degree can help your bottom line.
In our knowledge-based economy, earnings are directly related to education. According to the latest U.S. Census Bureau report, the average high school graduate earns $1,780 per month; associate degree holders earn $2,702; bachelor’s degree holders, $3,841; and master’s degree holders earn $4,945. That’s an average increase of thirty percent with each two-year stint in the classroom.

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]]> http://smartyoungmoney.com/double-your-salary-in-two-years-by-yahoo-education/feed/ Put Savings (and Yourself) First With a Budget http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget-2/ http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget-2/#comments Fri, 01 Aug 2008 18:36:49 +0000 admin http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget-2/ Personal savings have reached record lows, yet saving is essential to ensure a comfortable future. Learn how to track monthly expenses with a budget and potentially free up cash for saving.
BEFORE YOU START
• Speak to others in your family about the importance of working together to improve the household’s bottom line and come up with cost-saving ideas.
• Figure out how much money you saved last year. What percentage of income did you set aside for the future?
• Plan to use any windfalls you may receive this year (a bonus or tax refund) to pay off debt and pursue financial goals.
1
Put Savings First With a Budget
Where does that money go? America, it seems, is in the midst of a savings crisis. Personal savings rates have dropped in recent years and remain low by historical standards as many people continue to spend beyond their means.
If you’re among those Americans who can’t seem to save, it might be time to create a budget. A budget allows you to understand where the money goes and may help you free up cash for important savings goals, such as college and retirement.

2
Getting Started
Setting up a budget will require some work, but the benefits more than offset the time invested. How you create your budget is up to you. You may choose a piece of financial planning software, such as Microsoft Money or Quicken, or you may choose the paper and pencil route. The above worksheet is a simple yet inclusive budget that you can use to get started.
The first element of any budget is your income, or how much money you receive each month. This can include paychecks, legal settlements, alimony, royalties, fees, and dividends from investments that you do not reinvest. Once you know what your monthly income is, you can use a budget to make sure you don’t spend more than you earn, thus helping to reduce debt and freeing up cash for savings.
Next, you need to know how you spend your money. Start by tracking your spending for a month. Gather bills and receipts, and don’t forget to include newspapers from the corner store and trips to the soda machine. Don’t assume any expense is too small to record.
Write down your expenses and break them into categories. Using the budget worksheet as an example, we find Fixed Committed Expenses — mortgage, loan, and insurance payments that stay the same from month to month; Other Committed Expenses — things you can’t live without, like food, utilities, and clothing; and Discretionary Expenses — things you like but don’t necessarily need.

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]]> http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget-2/feed/ Put Savings (and Yourself) First With a Budget http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget/ http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget/#comments Fri, 01 Aug 2008 18:36:17 +0000 admin http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget/ Personal savings have reached record lows, yet saving is essential to ensure a comfortable future. Learn how to track monthly expenses with a budget and potentially free up cash for saving.
BEFORE YOU START
• Speak to others in your family about the importance of working together to improve the household’s bottom line and come up with cost-saving ideas.
• Figure out how much money you saved last year. What percentage of income did you set aside for the future?
• Plan to use any windfalls you may receive this year (a bonus or tax refund) to pay off debt and pursue financial goals.
1
Put Savings First With a Budget
Where does that money go? America, it seems, is in the midst of a savings crisis. Personal savings rates have dropped in recent years and remain low by historical standards as many people continue to spend beyond their means.
If you’re among those Americans who can’t seem to save, it might be time to create a budget. A budget allows you to understand where the money goes and may help you free up cash for important savings goals, such as college and retirement.

2
Getting Started
Setting up a budget will require some work, but the benefits more than offset the time invested. How you create your budget is up to you. You may choose a piece of financial planning software, such as Microsoft Money or Quicken, or you may choose the paper and pencil route. The above worksheet is a simple yet inclusive budget that you can use to get started.
The first element of any budget is your income, or how much money you receive each month. This can include paychecks, legal settlements, alimony, royalties, fees, and dividends from investments that you do not reinvest. Once you know what your monthly income is, you can use a budget to make sure you don’t spend more than you earn, thus helping to reduce debt and freeing up cash for savings.
Next, you need to know how you spend your money. Start by tracking your spending for a month. Gather bills and receipts, and don’t forget to include newspapers from the corner store and trips to the soda machine. Don’t assume any expense is too small to record.
Write down your expenses and break them into categories. Using the budget worksheet as an example, we find Fixed Committed Expenses — mortgage, loan, and insurance payments that stay the same from month to month; Other Committed Expenses — things you can’t live without, like food, utilities, and clothing; and Discretionary Expenses — things you like but don’t necessarily need.

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]]> http://smartyoungmoney.com/put-savings-and-yourself-first-with-a-budget/feed/ Online Money University http://smartyoungmoney.com/online-money-university/ http://smartyoungmoney.com/online-money-university/#comments Wed, 30 Jul 2008 15:58:49 +0000 admin http://smartyoungmoney.com/online-money-univeristy/ I wanted to take a moment to apologize to all of the readers. I haven’t been able to post in awhile, as I have started a new website called www.OnlineMoneyUniversity.com. It is a website that markets programs to help people make money online, and also offers a book that teaches online marketing strategies with ClickBank. I have been hard at work on this website for several months now, and this is the reason that I haven’t been able to post in awhile. Bare with me for a little longer as I finish up with web design, marketing, and PR. I will be able to post here again soon. Thanks for your patience!

Admin

]]> http://smartyoungmoney.com/online-money-university/feed/ Test Website Post http://smartyoungmoney.com/test-website-post/ http://smartyoungmoney.com/test-website-post/#comments Wed, 25 Jun 2008 13:01:53 +0000 admin http://smartyoungmoney.com/test-website-post/ TEST

]]> http://smartyoungmoney.com/test-website-post/feed/ Dealing With Credit Card Debt http://smartyoungmoney.com/dealing-with-credit-card-debt-2/ http://smartyoungmoney.com/dealing-with-credit-card-debt-2/#comments Tue, 17 Jun 2008 19:45:41 +0000 admin http://smartyoungmoney.com/dealing-with-credit-card-debt-2/ The fact that you are reading this articles is a good indication that you are looking for advice on how to deal with your credit card debt. Also obvious is that you have come to the realization that there is a problem and you are now searching for a solution.

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]]> http://smartyoungmoney.com/dealing-with-credit-card-debt-2/feed/ Engaging in Debt Elimination http://smartyoungmoney.com/engaging-in-debt-elimination/ http://smartyoungmoney.com/engaging-in-debt-elimination/#comments Mon, 02 Jun 2008 19:26:00 +0000 admin http://smartyoungmoney.com/engaging-in-debt-elimination/ You have heard so many times that you need to engage in aggressive debt elimination that it is virtually ingrained in your mind – so how do you do it? That would be the million dollar question. For most people it is an ‘easier said than done’ situation and they may feel helpless or overwhelmed in their current situation. If you are one of these people, hang in there because getting out of debt really is possible, but committing yourself to the process is mandatory.

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]]> http://smartyoungmoney.com/engaging-in-debt-elimination/feed/ The $10-a-day spending trap by TheStreet.com http://smartyoungmoney.com/the-10-a-day-spending-trap-by-thestreetcom/ http://smartyoungmoney.com/the-10-a-day-spending-trap-by-thestreetcom/#comments Wed, 28 May 2008 11:22:43 +0000 admin http://smartyoungmoney.com/the-10-a-day-spending-trap-by-thestreetcom/ Little amounts can make a large difference to your finances.
As gasoline and food prices continue to rise, the squeeze to make family budgets balance each month becomes more of a struggle. After the big savings have been found and taken, smaller savings have to be found to make ends meet.
This can be frustrating as it can feel like everyone is being nickled and dimed to death. That’s why it’s important to realize how these small amounts can make a huge difference in your overall financial health.

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]]> http://smartyoungmoney.com/the-10-a-day-spending-trap-by-thestreetcom/feed/ Credit Advice from a True Pro http://smartyoungmoney.com/credit-advice-from-a-true-pro/ http://smartyoungmoney.com/credit-advice-from-a-true-pro/#comments Mon, 05 May 2008 10:51:02 +0000 admin http://smartyoungmoney.com/credit-advice-from-a-true-pro/ So you’ve had a few problems getting the bills paid lately, and you’re wondering what you can do to repair the damage. You’ve got plenty of company. There are more than 30 million people in the United States with credit blemishes severe enough (score under 620) to make obtaining loans and credit cards with reasonable terms difficult. Or maybe your credit is OK, but you’d like to make it better. After all, the better your credit, the lower the interest rates you can score on mortgages, car loans and credit cards.

Usually, before we get a chance to answer the question, the person goes on to tell us their ‘theory’ and more often than not, the theory is way off base. You see, if Google or Affilate Programs decided to cancel your account or delete you right before you reached the payout number, they wouldn’t have a very good business model.

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]]> http://smartyoungmoney.com/credit-advice-from-a-true-pro/feed/ Different Types of Student Loans http://smartyoungmoney.com/different-types-of-student-loans-2/ http://smartyoungmoney.com/different-types-of-student-loans-2/#comments Wed, 30 Apr 2008 15:13:45 +0000 admin http://smartyoungmoney.com/different-types-of-student-loans-2/ Finding the best student loans is obviously necessary to a good education, but knowing what the best ones are, goes a long way toward achieving what you are attempting. The following is a short list of some of the most commonly discussed student loans, as well as some of the most advised. Keep in mind that the number of different companies, foundations, institutions, etc. that offer student loans are vast in number and range in requirements according to the type of loan you are looking for as well as the type of education you prefer.

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