Finances
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What is Internet Banking?
First offered in 1995, online banking is the latest twist in
the ever-growing world of technology. Now that over 68%
of U.S. households have access to the Internet, bank
customers are discovering it's easier and more expedient
to do the following online:
First offered in 1995, online banking is the latest twist in
the ever-growing world of technology. Now that over 68%
of U.S. households have access to the Internet, bank
customers are discovering it's easier and more expedient
to do the following online:
- Check account balances
- Balance a checkbook
- Transfer money between accounts
- Track recent account activity
- Authorize electronic bill payments
- Request copies of past statements and processed
checks - Order traveler's, cashier's, and regular checks
- Issue stop payment requests
- Apply for auto, mortgage, home equity, student, or
personal loans - Receive investment product and service information
- To get started, all you need is a computer with a
modem or other dial-up device, a checking account
with a bank that offers online service, and the
patience to complete about a one-page application--
which can usually be done online.
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Benefits of Making A Budget
Coming To Terms With The 'B' Word
If you are able to read this first paragraph and continue
on with the article, you have come a long way in wanting
to get your financial situation in order. Sooner or later,
the "B" word has to come into play. That's right. It's time
to take a look at your budget.
For all of you who are still reading, I commend you. The
word budget brings all the joy of having to go on a crash
diet. In fact, that is how most people approach budgets.
Just as with a diet, you know you are going to be forced
to do without the things you really want and be absolutely
miserable throughout the entire process. While this is an
option you can choose to take if you desire, we will try to
present some less antagonizing options to get your
budget in order.
First and foremost, let's get clear what a budget is. A
budget is merely a plan to spend less money than you
make. Nothing more, nothing less. If you are not currently
doing this with your money, you have 3 choices:
Reduce your current spending so that it is below the
income you bring in
Figure out a way to earn more money so that you can
continue your current spending habits
Continue to fall deeper in debt
Since #3 is not an option in this article, we will focus on
the first 2 choices. Many "reduce your current spending"
budgets are created in such a way that you are already
doomed to failure before you even begin. A good example
is a budget created by arbitrarily designating the amount
of money you want to save each month. For example,
someone earning $3,000 a month decides to only spend
$2,500 a month thus saving $500 each month. Although
this may at first appear to be a sound approach to
creating a budget, it will almost surely fail. Most people
who budget this way will find at the end of the month they
are running short of money. They therefore must stop
buying all items, including those which are essential, in
order to remain within their designated budget. Since
most people aren't willing to forego staples such as food,
this budget method usually ends in failure.
An important aspect that most people fail to address
when creating a budget is finding out where their money is
actually being spent each month. A better approach than
arbitrarily designating an amount to be saved is to take
the time and actually write down where your money is
going. We know that this prospect sends shivers down
your spine. Who really wants to know where the money is
going? Part of this fear stems from the thinking that if you
really know where the money is going, then you can no
longer deceive yourself of the way you spend money.
Ouch! However, it's got to be done. Whether you like it or
not, in order for a budget to work, you are going to have
to be willing to take some responsibility. Without taking
the responsibility of knowing how you spend money,
making a budget that works will be next to impossible and
you can stop reading right now. More.
Coming To Terms With The 'B' Word
If you are able to read this first paragraph and continue
on with the article, you have come a long way in wanting
to get your financial situation in order. Sooner or later,
the "B" word has to come into play. That's right. It's time
to take a look at your budget.
For all of you who are still reading, I commend you. The
word budget brings all the joy of having to go on a crash
diet. In fact, that is how most people approach budgets.
Just as with a diet, you know you are going to be forced
to do without the things you really want and be absolutely
miserable throughout the entire process. While this is an
option you can choose to take if you desire, we will try to
present some less antagonizing options to get your
budget in order.
First and foremost, let's get clear what a budget is. A
budget is merely a plan to spend less money than you
make. Nothing more, nothing less. If you are not currently
doing this with your money, you have 3 choices:
Reduce your current spending so that it is below the
income you bring in
Figure out a way to earn more money so that you can
continue your current spending habits
Continue to fall deeper in debt
Since #3 is not an option in this article, we will focus on
the first 2 choices. Many "reduce your current spending"
budgets are created in such a way that you are already
doomed to failure before you even begin. A good example
is a budget created by arbitrarily designating the amount
of money you want to save each month. For example,
someone earning $3,000 a month decides to only spend
$2,500 a month thus saving $500 each month. Although
this may at first appear to be a sound approach to
creating a budget, it will almost surely fail. Most people
who budget this way will find at the end of the month they
are running short of money. They therefore must stop
buying all items, including those which are essential, in
order to remain within their designated budget. Since
most people aren't willing to forego staples such as food,
this budget method usually ends in failure.
An important aspect that most people fail to address
when creating a budget is finding out where their money is
actually being spent each month. A better approach than
arbitrarily designating an amount to be saved is to take
the time and actually write down where your money is
going. We know that this prospect sends shivers down
your spine. Who really wants to know where the money is
going? Part of this fear stems from the thinking that if you
really know where the money is going, then you can no
longer deceive yourself of the way you spend money.
Ouch! However, it's got to be done. Whether you like it or
not, in order for a budget to work, you are going to have
to be willing to take some responsibility. Without taking
the responsibility of knowing how you spend money,
making a budget that works will be next to impossible and
you can stop reading right now. More.
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Establish
Good Habits
If you're just
starting out and
are already
thinking about
what financial
health might
mean, you are
presenting
yourself with a
golden
opportunity.
When investing,
time is one of
your most
powerful
allies--one that
most people
weaken by not
investing when
they first start
out.
Unfortunately,
most people who
are just starting
out aren't
thinking about
their long-term
financial health,
either because
they don't know
the issues,
believe that they
can take care of
it later, or don't
make enough
money to make a
difference.
What follows are
six habits that, if
followed, should
put someone
who is just
starting out on
the path towards
controlling their
financial destiny.
These habits may
convince you that
it's a really good
idea to start
planning now,
that beginning
earlier rather
than later makes
it much easier to
achieve financial
goals, and
investing even
small amounts is
very worthwhile.
More....
Good Habits
If you're just
starting out and
are already
thinking about
what financial
health might
mean, you are
presenting
yourself with a
golden
opportunity.
When investing,
time is one of
your most
powerful
allies--one that
most people
weaken by not
investing when
they first start
out.
Unfortunately,
most people who
are just starting
out aren't
thinking about
their long-term
financial health,
either because
they don't know
the issues,
believe that they
can take care of
it later, or don't
make enough
money to make a
difference.
What follows are
six habits that, if
followed, should
put someone
who is just
starting out on
the path towards
controlling their
financial destiny.
These habits may
convince you that
it's a really good
idea to start
planning now,
that beginning
earlier rather
than later makes
it much easier to
achieve financial
goals, and
investing even
small amounts is
very worthwhile.
More....
Starting Out &
Single
On an entry-level
salary, saving
money is not
always possible.
But if you can put
just a little away
every month,
time--investing's
most powerful
ally--can make it
worth the sacrifice.
Starting to save
as early as
possible may be
more than
advantageous, it
could be a
necessity. Women
face unique
financial
challenges, and
early planning
makes it easier to
compensate for
these factors.
What are these
unique challenges?
Lower incomes.
On average,
women earn 25%
less than men in
equivalent jobs.
Single
On an entry-level
salary, saving
money is not
always possible.
But if you can put
just a little away
every month,
time--investing's
most powerful
ally--can make it
worth the sacrifice.
Starting to save
as early as
possible may be
more than
advantageous, it
could be a
necessity. Women
face unique
financial
challenges, and
early planning
makes it easier to
compensate for
these factors.
What are these
unique challenges?
Lower incomes.
On average,
women earn 25%
less than men in
equivalent jobs.