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5 Tips For Setting Smart Financial Goals

Everyone seems to have the same financial goals in mind when you get down to the simplest of terms–we all want more money. Of course, finding ways to achieve our goals can be extremely difficult. For business owners, investors, and average individuals everywhere, setting smart financial goals is more necessary than ever. Only by being smart about your goals can you turn your dreams into reality, so get started on the right path today.

Define Your Goals
Before you can set out to achieve your financial goals, it will help to know what they are. As they say, if you don’t know where you’re going, then you can’t possibly know how to get there. Set aside some time to figure out specific goals that you want to achieve. Perhaps you’re shooting for a certain level of home equity, an increase in your investment returns, or a jump in profits from your business. Think about exactly what it is you want and be as specific as possible to start setting smart financial goals.

February 21, 2013

General

5 Car Depreciation Facts You Should Know

You’ve no doubt heard that a new car loses thousands of dollars in value the moment you drive it off the lot. In fact, it is rumored that the loss could be as much as a third of overall value. This may not be quite accurate, but once you sign on the dotted line and take ownership of the vehicle, there’s no denying that it automatically becomes worth a little less (because it can only be resold with the caveat that it’s had a previous owner). So before you go into debt to purchase a new car, you might want to consider that there are other options (certified pre-owned vehicles, for example). And knowing the facts about depreciation could just help you to make an informed decision. Here are a few tidbits you might not be aware of.

Accidents are a major cause of depreciation. When it comes to accidents, most people seem to be under the impression that as long as there is no frame damage and their vehicle is restored to original condition they won’t see any additional depreciation. Sadly, this is not true, especially with websites like Carfax that let anyone see your car’s history. The truth is that if all things are equal, a car that has a clean history is going to be worth more when it comes to resale.

January 29, 2013

General

5 Reasons Your Home Won’t Sell And What You Can Do About It

Pundits and experts have pegged 2013 as the year that the housing market will truly start to rebound, showing a significant increase in sales and perhaps even a bump in pricing. This is apparently thanks to a foreclosure market that is finally drying up, giving homeowners a chance to compete for sales. But don’t start counting your chickens before they hatch; we’re still in a recession. And if you’ve had your home on the market for a while with nary a nibble, you can no doubt attest to the continuing sorry state of our economy. Of course, the recession may not be totally to blame for your real estate woes. There could be a number of roadblocks that are preventing you from attracting buyers. Here are just a few that could be thwarting your efforts and how you can go about fixing them.

It won’t pass inspection. Unless you’re intent on selling your home “as is” (a prospect that won’t appeal to very many buyers unless the price is right, which is to say bargain basement), you need to fix any violations uncovered by a home inspector. The reason is this: if your home doesn’t pass inspection, no bank will loan a buyer the money to purchase it. Luckily, all you have to do is get your property up to code. The home inspector will give you a detailed list of what needs to be fixed (and possibly even recommend vendors for the job).

High price. You obviously want to get the best value from your home when it comes time to sell, but in a depressed market you’re going to have to temper that urge with a healthy dose of reality. You’re not going to get anywhere near the same value as you would have before the bubble burst, so put that thought out of your head. The best you can really hope for is the top end of your current market, but even that is a risky gamble. Of course, if you overestimate the interest in your home, you can always drop the price, but that, too, could be problematic (read on).

January 28, 2013

General

The Most Valuable College Majors

It wasn’t so long ago that the flexibility of a business degree was enough to open all kinds of doors to a motivated graduate. But these days you not only need a major in business, but also a minor in communications, not to mention an emphasis in social media. And it couldn’t hurt to have a second major in the industry you intend to enter, be it hospitality, video games, alternative energy, or whatever strikes your fancy. The point is that the job market has changed, and majors that were enjoying job growth even a decade ago have now become over-saturated. Just look at the field of graphic design. However, there are a number of majors you might select that stand to deliver not only lower than average unemployment rates (even in a recession), but also the potential for a livable salary.

January 24, 2013

General

The Most Common Financial Hurdles For College Students

You might think that getting into the ivory tower of learning is difficult, what with the vast number of students vying for only limited admissions. But just wait until you see the bill. While some students are lucky enough to have parents who can pay their way and others have the mad skills to nab them a scholarship for partial or full tuition (and even additional expenses, in some cases), far more find themselves on the hook for a lion’s share of the costs associated with seeking a higher education and earning a degree (which generally amounts to thousands of dollars each year). This can leave the average collegian facing some major hurdles when it comes to finances. But armed with the knowledge of what to expect you may be better prepared to face and overcome these challenges. So here are some of the most common financial problems that students face.

The main issue for many students stems from a marked inability to earn the money that would help them to cover expenses. In addition to the obvious cost of tuition and books, you may also have to pay for expenses like lodgings, food, and other extras. Of course, if you choose a school that is close to home you may be able to save quite a bit by continuing to live with your parents. Even if they can’t afford to offer you cash contributions they can almost certainly help you to save some money by giving you free room and board. But many students don’t have this option because they end up at a campus that is far from home.

January 24, 2013

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