James C. Molet's Blog, page 22

The Advantages of Consolidating Credit Card Debt

The process of consolidating credit card debt is something credit card holders should be aware of as means to save money and ease monthly payments. Before someone consolidates credit cards there are few things that should be kept in mind. What are the Advantages of Credit Card Debt Consolidation? Of the many reasons for credit... Read Article →

Seek Professional Help for Consolidating Credit Cards

Loans and the resulting debt have become a very common issue in today’s society. This is not only because people have become careless about money or their income was not sufficient, and hence, had to borrow money. In many cases it is because borrowing has become easy and convenient in the modern financial era. Loans,... Read Article →

Millennials: Plan for Retirement Now or Pay the Price Later

The Following is a guest post from David Rosell, author of Keep Climbing: A Millennial’s Guide to Financial Planning and Failure is NOT an Option, is a sought-after speaker who has addressed international audiences including the Million Dollar Round Table. He is a recipient of the Retirement Distribution Certificate from the University of Pennsylvania’s Wharton School... Read Article →

Should You Go for Credit Card Debt Consolidation?

Understanding that consolidating credit card debt is an option is important when you know that you have overspent and continually exceed the limits of your credit cards month after month. Credit card debt is the largest reason most people find themselves in debt. Consolidating that debt can make managing the debt easier and may even help improve your... Read Article →

6 Ways to Reduce Stress and Anxiety In Your Financial Life

The following is a guest post from Al Zdenek, president, CEO and founder of Traust Sollus Wealth Management, a boutique wealth management firm dedicated to empowering people to transform their lives and live the life they wish now and in the future. Trading in your morning coffee run to Starbucks for the pot of coffee... Read Article →

The Sharing Economy: A Cure for Widening Inequality?

There has been a tremendous amount of chatter and no doubt most readers are somewhat familiar with the term, and the practice of the sharing, or peer-to-peer, or gig, economy. For those that are not or just to verify what we are talking about, The People Who Share website has a pretty good description: The... Read Article →

The Financial Aid Handbook – A SavvyReview

The Financial Aid Handbook: Getting the Education You Want for the Price You Can Afford Paperback: 251 pages Publisher: Career Press (2017) Co-author Carol Stack is the former director of admissions at Macalester College and Augsburg College, and served as a college counselor at both the International School of Brussels and St. John’s International School in Waterloo, Belgium.... Read Article →

4 Money Issues Couples Should Agree On

The following is a guest post from Al Jacobs, author of Roadway to Prosperity. Al has been a professional investor for nearly five decades and holds a degree in civil engineering from Rensselaer Polytechnic Institute, a Real Estate Certificate from the University of California and a Certified Property Manager designation (CPM) from the Institute of Real... Read Article →

4 Money Issues Couples Should Agree On

The following is a guest post from Al Jacobs, author of Roadway to Prosperity. Al has been a professional investor for nearly five decades and holds a degree in civil engineering from Rensselaer Polytechnic Institute, a Real Estate Certificate from the University of California and a Certified Property Manager designation (CPM) from the Institute of Real Estate Management.

Spouses often harbor different opinions on a variety of subjects. From the style of clothes and haircuts they like on each other to the TV shows they watch every evening, marriage requires plenty of compromise.

While frivolous things such as choosing between Monday Night Football and Dancing with the Stars might conjure up a minor squabble, when it comes to arguments over money, respective differences can lead to more than just mild disagreements.

Income and spending are at the heart of any partnership – family as well as business. Just as business partners need to be on the same page when it comes to spending company money, spouses need to come together to avoid creating a crisis situation that could ruin a marriage.

The Big Four

There are four basic issues that would put families in better financial shape if both spouses could be in accord on them:

Life insurance.  Every family provider should arrange financially for his or her survivors in the event of an untimely death. A common way to accomplish this is with life insurance. This is where controversy arises. You want an inexpensive and unadorned 20- or 30-year level benefit term policy, of sufficient face value (normally no less than 10 times the insured’s annual income). Spouses must agree on a policy and not waiver once it is purchased.
Credit cards. No single implement has led to greater misery for more families than the credit card. These should be used as merely a convenience when cash is not available, and account balances should be paid in full each month before any interest is charged. Both spouses must conduct their lives by this rule. If either cannot do so, destroy the credit cards.
Transportation. The car constitutes the typical American’s single most important fixation. No other product is more forcefully marketed, and far too many people succumb to its allure, forfeiting a substantial portion of disposable income. He says no one should drive a leased or financed vehicle. Instead, Jacobs recommends paying cash, even if that means you drive a 1984 Toyota Corolla.

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Education. The educational establishment has convinced the nation that a university must appear prestigious and be costly for it to be worthwhile, Jacobs says. The result: Untold numbers of college graduates and their parents are in hock big time, some never to emerge from debt. Jacobs suggests that unless a student is able to earn a scholarship, freshman and sophomore years should be spent at a community college, commuting from home, and the junior and senior years at a reasonably priced local state university.

Final Thoughts

The social and psychological pressures brought to bear on customers are more than many people can resist, but if two people hope to prosper together, both spouses must avoid the impulse to make purchases unwisely.

Fitness Advocate Maria Kang Hosts Nationwide Wellness Events Sponsored by Wise Popcorn

Maria Kang, national fitness leader and President of Fitness Without Borders, announced that she will be hosting three fitness events this summer in select cities, with Wise Popcorn as the lead sponsor. The events will focus on Fitness Without Borders’ mission to teach people how to live a balanced and healthy lifestyle. “We are very... Read Article →