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How Much Does It Really Cost?

consider hidden opportunity costs when making decisionsHave you ever stopped to think about how much a decision you make will really cost you?  I’m not talking about just the dollar cost.  I’m talking about the opportunity cost.

What is an opportunity cost?

I’ll explain using an example.  If you decide to attend college.  The true cost of going to college is much more than your room and board and tuition costs.  You should also factor in how much you could earn working a full time job.  If you knew for sure that you could earn $30,000 per year working full time. then your decision to attend college should factor in this additional cost.

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October 13, 2014
General

5 Ways To Save Money On High School Prom Night Expenses

how to save money on prom nightOne of the most significant days in any teenager’s life is prom night. It’s a time to dress up in their best and hang out with friends. It’s an opportunity to enjoy dancing and partying in a beautiful venue. And for many high school students, it also symbolizes experiencing a formal event before graduating and heading off to college.

On the other hand, what prom night means for parents is a memorable evening that also has the potential to become a pretty expensive one as well. So if you have a son or daughter who has a prom coming up and you’d like some tips on how to provide them with all that they need without breaking your budget in the process, this is the article that you’ve been looking for. It has five tips that can help you save money on high school prom night expenses.

Don’t wear a tux. If you have a son who’s planning on going to the prom, although a lot of young men choose to wear a tux, there is no book of guidelines that say it’s mandatory. In fact, just like there are a lot of grooms who opt to not wear a tux on their wedding day, there are more and more young men who are choosing to put on suits at prom, as well. It’s stylish and it’s cheaper, too. However, if your son does want to put on a tux, it’s better to buy one than rent one. Colleges tend to have formal events, too. Therefore, a tux can be an investment that he can make good use of time and time again.

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September 22, 2014
General

You’ve Just Graduated! Steps To Getting A Job Through LinkedIn

how to use social media to find a jobLinkedIn has a membership of more than 277 million people. So while you may want to be a part of the gigantic network, you also don’t want the crowd to swallow you up into oblivion.

Hopefully, by now you’ve already created an impressive profile on LinkedIn—one that helps you stand out. This will be your foundation to help you get the job you have been dreaming of.

The fact is that 94% of recruiters use social media, particularly LinkedIn when looking for new talent, making it a powerful resource for professional networking. This alone should get you excited. Here’s how you can leverage this game-changing tool to get your first job after graduating.

  1. Know where LinkedIn “fits in.”

For you to use LinkedIn well, understand how it fits into the grand context of social media networking. Facebook focuses on brand and identity, be it a business page or a personal profile. Twitter is interested in events: Your latest blog posts, status of a missing plane in the Indian Ocean. LinkedIn on the other hand is an avenue for engaging with people and companies that may be your potential employers.

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September 16, 2014
General

How Are Life Insurance Rates Determined?

life insurance ratesIf you’ve gotten insurance policies in the past, you are no doubt aware that a number of factors are taken into consideration when determining your rates. Homeowners insurance, for example, may be based on the value of your home, the crime rates in your area, and the deductible you select. Auto insurance could be calculated by looking at the car you own, your driving history, and even the number of miles you put on your vehicle in a year. So it should come as no surprise that the rates attached to your life insurance policy will be determined based on a variety of input. But you may not be aware of exactly what insurance providers are interested in and how they come up with a number for your particular policy. Here are just a few of the factors they consider and how they could affect your life insurance rates.

Age
Your age will play a major role in the cost of your life insurance policy, and unfortunately, there’s not much you can do about it. Just like taxes, death is inevitable, and the longer you live, the greater the odds you will die. Luckily, you can lock in low rates for life insurance by selecting a whole life policy when you’re young and sticking with it. The younger you are when you secure your policy, the lower your cost will be. Just make sure to pick a policy that has rates locked in.

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September 7, 2014
General

Helpful Advice For Making Wise Financial Decisions

making wise financial decisionsDespite the fact that capitalism is a major part of our daily lives, few of us reach adulthood with the knowledge necessary to make wise financial decisions. If we’re lucky, someone has taught us how to balance a checkbook somewhere along the way. But most people don’t even know how to create and adhere to a basic budget, much less use credit cards appropriately or set up an investment portfolio. In short, it’s no surprise that so many adults find themselves facing a mountain of debt with no real hope of digging themselves out. But you have the capacity to learn the ins and outs of basic personal finance, and you don’t have to wait for the consequences of bad decisions in order to learn your lesson. Here are just a few helpful guidelines that can get you started down the path to making wise financial decisions.

You might want to start by taking a personal finance class. You can often find such offerings at your local community college, adult continuing education center, or even through your community center. In some cases these courses are available online. And the benefit of taking such a course is that you’ll get a broad overview of personal finance, including household expenses, retirement accounts, investments, and more. But you may also have access to specific and practical lessons like how to create your own budget or pay down credit card debt.

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September 6, 2014