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| 2009 Financial Planning Tips Archive
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December 2009 - Loans between family and friends can get complicated When your best friend views your nest egg as a source of start-up funds for his latest business venture, or your nephew hits you up for a car loan, your first impulse may be to reach into your bank account to help. But it's a fact that loans to family and friends often end up straining both finances and relationships. As Shakespeare said, "Loan oft loses both itself and friend." In other words, if you lend money to friends, you often don't get paid back and the friendship itself may disintegrate. November 2009 - How to use credit cards wisely Back in your grandfather's day, folks didn't have to worry about the ins and outs of adjustable rate mortgages, and credit cards. Such options simply weren't available, so when people wanted to buy something — a car, a house, furniture — they saved for it. October 2009 - Use caution when swapping vacation homes If you're a vacationer considering alternatives to high-priced hotels — say you just want a place to hang your hat, prepare an inexpensive meal, and mingle with the locals — home swapping may be the ticket. For a few weeks you relinquish your house keys to another family and, in exchange, take up residence in their home — maybe in a different country, maybe elsewhere in the U.S. September 2009 - Insuring your teen driver: How to control the cost Your child is approaching 16 years old and for the past several years, he or she has reminded you (daily, it seems) of this inevitability. You, on the other hand, have been trying to expunge the thought that a teenager — a teenager! — will soon be driving one of your vehicles. August 2009 - Women need to get serious about saving for retirement Studies show that women often lag behind men when it comes to saving for retirement. That's especially troubling when you consider that, on average, women outlive men by three to seven years. One study, for example, found that a female retiring at age 65 can expect to live three years longer than a man retiring at the same age. July 2009 - A Roth IRA is not always the best If you want to contribute to a tax-advantaged retirement account that's outside your employer's plan, you have two main choices: the traditional Individual Retirement Account (IRA) and the Roth IRA. June 2009 - Should you pay off credit cards with a home equity loan? One of Shakespeare's oft-quoted lines "Neither a borrower nor a lender be" is sage advice, especially for many cash-strapped Americans. But perhaps you haven't followed Shakespeare's wise counsel. If credit card payments are taking a big chunk from your paycheck, you may wonder if it's a good idea to use your home equity to consolidate high-interest credit cards into a more affordable monthly payment. May 2009 - Streamline the cost of vacations and entertainment Sometimes "luxuries," such as family trips and entertainment, get lopped off in the budget-slashing process. But we all need time to recharge, to have fun, to enjoy our families and friends apart from the daily grind. Without some of these so-called frills, we can work ourselves into ill health or just plain boredom. April 2009 - How to streamline insurance and transportation costs In today's shaky economy, many families are finding innovative (and sometimes not-so-innovative) strategies for trimming household budgets. Two areas to contemplate: insurance and transportation. March 2009 - Consider ways to streamline housing and food costs These days many Americans are finding it difficult to make ends meet. Lost jobs, rising grocery prices, mortgage payments that adjust upward all can strain an already-limited budget. Here are tips for relieving some of that pressure in two important areas: housing and food. February 2009 - It's time for an annual review Financially speaking, 2008 was a real bummer for many Americans. Lots of us are licking our wounds, hoping the losses aren't as dismal as the press keeps proclaiming. If you're tempted to start a bonfire when those year-end investment statements arrive in the mail, you're not alone. January 2009 - Check out the pros and cons of debit cards Open your wallet and compare your debit and credit cards. Both probably sport a logo, an embossed account number, an expiration date and, of course, your name. Both may even come with the same nifty picture and background color. In fact, the only distinguishing characteristic may be that little word "debit" on the face of, you guessed it, your debit card. |
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Planning Tips" are published monthly to provide useful financial
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how to reach your financial goals. The information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance. If you would like more information on anything in "Financial Planning Tips," or if you'd like to be on our mailing list to receive other financial, tax, or business information from time to time, please contact our office. We're here to help. We currently have individuals licensed to offer securities in the states of New Jersey, California, Connecticut, Washington D.C., Delaware, Florida, Maryland, Nevada, Pennsylvania, Texas and Wisconsin and to offer investment advisory services in New Jersey, Connecticut, Delaware, Florida, Maryland North Carolina, New York, Pennsylvania, Texas and Wisconsin. This is not an offer to sell or provide investment advisory services in any other state or jurisdiction. Securities offered through 1st Global Capital Corp., Member FINRA/SIPC. Investment advisory services offered through 1st Global Advisors, Inc. |
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