Financial Goals for the New Year 2021

Hey! It has been 8 years since I posted on this blog! I am not the same person I was so many years ago. So much has happened that has changed me. However, I'll save that for my other blog. This blog is about getting out of debt, saving, investing and a lot more! I am not going to give investing advice. I am a novice. I am an expert at couponing, budgeting and squeezing every penny out of everything.

Here are a few of the most important things that have happened in my financial life.

1. I have a job in the mental health field. I know, so different from all of the things I blog about. Trust me when I tell you, it is challenging. I love to help people, but it can be emotionally exhausting. I hope to earn some passive income once again.  Keep reading, you'll understand why.

2. Remember, I have 7 kids? One of my children died at the age of 26. He went into the military a healthy young man. When he returned, he became very ill. He blessed me with a grandson that he only got to spend 8 months with. My grandson and his mother live with us. All of my kids have moved out except for my youngest. He has autism and will be in school until the age of 21. My son will need funds to care for him for life.

3. I don't carry any credit card debt. No credit cards. One credit card company is garnishing my check. I can't wait for that to be over. I will be able to use that to pay off the mortgage and then invest it.

4. I am trying to payoff my mortgage in 2 1/2 years. Follow my journey!

5. I am married. I should have started with that. We don't combine our incomes.  I believe our marriage wouldn't survive that. 

6. I have 3 grandchildren and one on the way. Have investment accounts for them. I want them to have options. I don't want them to go into the military to pay for college. My son's passing is the reason for that.

7. I put a nice amount into my 403b. Just increased it to 20%!

8. I have an additional IRA. I want to make monthly deposits to see how that does.

9. I have an Acorns account and have weekly automatic deposits set up. Here is my link, if you're interested in joining!  It is greatly appreciated. https://acorns.com/invite/7YHZCE

10.I have an ETrade account. Want to focus on more ETF's.

Those are the biggest changes in my life. I will be sharing my journey of getting it together and giving my grandchildren the life I couldn't give my kids. Follow me and share your thoughts and comments!

What are your financial goals?  Have you written everything down to really look at what you're achieving?

Where to Find Great Personal Finance Articles

Keeping current on personal finance and financial literacy is a hobby of mine.  I enjoy reading about how others create plans and execute them to get out of debt and / or build wealth.  Why?  There are many methods that can be used to achieve success. The trick is finding the method that works for you.  That's why
I try to read as many debt, personal finance and wealth building articles I can.  There is one that I would love to recommend called Lexington Law.  

The link that I shared above is to Lexington Law's twitter feed. I strongly advise you to follow them. They share awesome articles that are informative and very helpful to those seeking personal finance education. For example, they have credit help for entrepreneurs, tips for home buyers and info on teaching kids about money. Their articles cover a wide variety of topics which I love to share on facebook. Why keep a great find like this a secret? Not me. That's why I wanted to share it with my readers too.

Who is Lexington Law? It is consumer advocacy law firm. Unlike other law firms, they have offices across several states. They provide services that range from bankruptcy, to divorce, child custody, home mortgages, credit report repair and more.

Follow their twitter feed, check out their website, read some articles and let me know what you think below in the comments area.  I would love to know if you found this site useful!  Thanks in advance!

Should You Take on Credit Card Insurance?

Many people are concerned that they won’t be able to meet their credit card payments. Some people have actually turned to credit card insurance. Credit card insurance plans will help you meet the minimum monthly payments if you are suddenly unable to make your payments.

Credit card insurance plans can be helpful if you lose your job or get sick. However, there are a number of possible problems. You should take all these factors into consideration before you sign up for a credit card payment protection plan.

First and foremost, you need to consider the cost of a credit card insurance program. You will have to pay a portion of your balance each month. The fee for credit card insurance is usually a little less than 1% of your balance each month. Over time, this can add up, especially if you use your cards regularly.

Another problem with credit card insurance programs is that they give you a false sense of security. When you take out credit card insurance, you may be a little more liberal with your spending habits. Over time, you are still going to rack up your balance and have to pay more for it, whether or not you end up needing to activate the insurance.

You also need to know what your insurance will cover. Typically, you can use the insurance if you lose your job, become disabled or seriously ill or become deceased. You will not be able to use your insurance just because you racked up too much debt.
Obviously, most people face problems with their credit cards because they can’t spend carefully. Credit card insurance is unlikely to help them deal with their financial problems.

You may benefit from participating in a credit card protection plan if you have concerns at work. These days, businesses may lay employees off at a moment’s notice. However, that doesn’t mean that insurance is your best bet.

Instead of buying credit card insurance, you may want to consider putting money into a high yielding annuity or bond each month. Over time, your money will grow. That way, if you are unable to meet your credit card payments for a few months, you will have something to draw from. The advantage of investing your savings in high yielding investments is that you stay focused on growing your wealth. It makes more sense to keep your money growing than to lose money in anticipation of the worst case scenario.

Consider the costs of a credit card insurance plan before your enroll in one. The chance that you will lose your job or become critically ill is probably a lot lower than you think. There is no sense paying hundreds of dollars for an insurance plan that you will probably never have to use. It’s good to be cautious, but you don’t want to lose money being paranoid.

Kalen Smith is a personal finance writer who blogs about family finance issues including bank and credit card charges and mis-sold PPI claims as well as other personal finance topics such as consumer debt and saving tips.

Do You Avoid Answering Your Phone Because of Creditors?

There are very few things I have found as stressful and irritating as calls from creditors. So many people I know are experiencing this right now. With the economy as horrible as it is, many have lost their jobs. Some people have the added stress of having ARM mortgages. Add the skyrocketing gas prices, soaring food costs and it is a lethal mix. When you simply can't make the payments anymore, the calls begin. They will call your cell, your job and/or your home. They are determined to get their money. 

You want to know what the worst part is? It is when the creditors call non stop and you start stop answering your own phone, not because you are screening them- but because you don't want to argue with a stranger.

Some people may not feel empathy towards a person in this situation. Why should they? They are dealing with the consequences of poor management of their finances, right? Well, not all the time. Some people end up in financial problems because of an illness, an accident or because of my personal favorite- a cheating spouse.

Right now, my best friend may have to file bankruptcy. After 15 years, her husband cheated on her. After cheating on her, he decided to leave and destroy her credit and finances. He stopped making payments on his BMW. It was repossessed. He also stopped paying the mortgage to the house he is currently living in. That is going into foreclosure. Her lawyer told her the banks that hold those loans may put a lien on the house she is living in (with their 13 year old daughter).. To make everything even more complicated, he took out $100,000 from his pension, blew the money and didn't pay the income taxes on them. Her phones ring all the time. Why? The creditors are harassing her to make the payments. For this reason, she doesn't even answer the phone. Unfortunately for her, nothing can be taken care of until the divorce is finalized. Who knows when that is going to be over!  What a nightmare...

Here's some interesting information on bankruptcy:

Filing Chapter 7 bankruptcy can help you eliminate your credit card debt, stop garnishments, stop repossession, stop foreclosures and end creditor calls.

Filing Chapter 13 Bankruptcy will help you reorganize your debt and in most cases reduce the amount of money you must repay.

Having creditors blow up your phone is no way to live. If you are avoiding answering the phone because of creditors, you need to do something.  For more information on bankruptcy, visit  the site  Riverside Lawyer  .  They are bankruptcy lawyers in CA.   They have a very informative site regarding bankruptcies. They also have many free resources available.  (Live in CA?  By calling 951-241-8070, you can setup a free consultation). You have options.  Find out what they are and take action...

***  A great big thank you to our sponsor because your support enables me to continue blogging! ***

Do You Teach Your Children About Personal Finance?

Since an early age, I always taught my kids about finances.  They knew that there are things that are wants and needs.  Needs always take first priority, while wants have to wait because let's face it-they usually change.  As they get older, I see that I didn't waste my time.  There is nothing more fulfilling!  It is very important to teach children about saving, spending, investing and creating wealth.

About three years ago, I taught my oldest about investing with sharebuilder.  I knew that since he was making his own money in the Navy and he didn't have many expenses, he may find himself blowing it all hanging with the sailors.  He took an interest and even made $12,000. literally overnight!  He is now 21 and is in the process of buying his own home.  Not bad, huh?

The Diva is a senior now.  She started competing for and winning college scholarships her junior year.  She knew that she was going to need a lot of money since the college she wants to attend to get her environmental engineering degree is pretty pricey.  In the meantime, she has saved every penny she could.  She shops at the Salvation Army for any clothing she may need.  She is focused on her goal.  If only we could all be so driven..

The other day I was talking to The Entreprenuer and he was telling me how he found something out about this "wealthy" family in his school.  He was shocked and couldn't understand why anyone would live above their means.  Their teen drives a Hummer, just one of their many cars.  The teen daughter has a collection of Coach, the latest tech toys and their always vacationing.  Apparently, they can't afford their lifestlye.  They are in a really bad place financially, but they don't want anyone to know.  One of their daughter's friends overhead their mom's conversation.  If they thought no one was going to find out, they were wrong.  Why hide it and continue bad spending habits for the whole family?   That is a teaching moment if I ever saw one.

Don't you agree that as parents we need to teach kids that being financially responsible is important for everyone because it effects more than one person?  It effects the family, the neighborhood and even the entire community.  Seriously, fiscal irresponsibility by our government has effected our nation as well as our global community.

Do you teach your children about personal finance?   Why or why not?  How old do you start and why?

Cooperative Bank in the UK Offers Credit Cards with 0% Interest

Cooperative Bank in the UK offers a variety of credit cards with rewards that appeal to different tastes. For the financially savvy, they offer the Advantage credit card that has 0% for the first 6 months. That deal is available on purchases or balance transfers. After the 6th month, the APR reverts to 18.9%.

For those that like to use their cards for daily expenses to rack up on rewards points, they offer the Travel credit card. This card has 0% for the first 6 months on balance transfers and purchases, but reverts to a 16.9% APR. You can accumulate travel points with the use of the card that can be redeemed for anything travel related.

Love to help organizations? With the Affinity card, you can choose from 24 organizations that can receive donations from your credit card fee as well as purchases. Organizations represented include Greenpeace, Amnesty International and Save The Children.

Whichever card you choose, remember to use it wisely. The last thing you want to do is become a slave to debt...

Using Credit Cards to Make Money!

YourCreditNetwork.com is an excellent resource for anything you want to know about Credit Cards. The best part is it can help you find a credit card offerthat will earn rewards and cash! Imagine that? Using your cards wisely will mean credit card companies will pay you to use their cards!

Naviagating through the world of credit is not easy. Actually, credit card companies probably maximize on that. This site has all the information you may want organized on one site. Whether you are looking for a low interest credit card, an instant approval credit card or a rewards credit card-it's all there. Their user friendly site has all the categories listed on their home page. They also have images of credit cards with a rating system to help you decide what is best for you. The rating includes the following criteria: Intro APR, Intro Period, Regular APR, Annual Fee and Reward Type. In a glance, you can determine which card fits your lifestlye.

To make your experience more personal, their site has a blog. Their Credit Card Blog highlights features of various credit cards. These are very helpful. They will give you the best features of each site which saves you time from researching each detail.

I defnitely think this is a site that should be bookmarked by your favorite social bookmarking site. It has informative articles that may help you get out of credit card debt too!

How can you make money with your credit cards?
1. Visit YourCreditNetwork.com to help you find the credit card with the right reward.
2. Be sure to be wise with your purchases.
3. Pay your entire balance on a monthly basis.
4. Keep track of your rewards and cash in on them!

Use your credit card to pay for monthly expenses like:
1. groceries
2. gas for your car
3. utilities
4. cable, cell phone, broadband
Be sure to pay this balance off immediately and your points will accumulate quickly. If you choose a credit card that rewards with airline miles, you may be able to get a free vacation to a great spot!

There are many people that do this to earn extra money to save or invest. Don't believe me? Just perform a Google search and read testimonies of those that have earned some nice checks from credit companies. Isn't it time to get a nice check back from those that have long taken your money?

Credit Card Assist: See Each Credit Card's Pros and Cons in a Glance!

Many personal finance bloggers compare credit card's: rates, annual fees and rewards. There are many credit cards out there offering rewards for mileage, groceries, cash and even toys! To sort through all the cards wihout the hassles visit one site: Credit Card Assist. They have done all the research and put all the information on one site!

Credit Card Assist is easy to navigate. It's information is displayed in a convenient manner to help you get the rewards that you want or need. If you are looking for the best credit card suited for your needs, you can see each card's APR, annual fee, balance transfer policy, reward program and more. All this in a glance! This is a great resource for anyone that likes to use credit cards to earn rewards! Especially if you pay the balance in full. Your rewards will actually be FREE!

You can search for the perfect credit card by issuer or any of these categories:
Low Interest Credit Cards
Airline Credit Cards
Student Credit Cards
Business Credit Cards
Reward Credit Cards
Cash Back Credit Cards
Balance Transfer Cards
Instant Approval Cards
Cards for Bad Credit
Prepaid Debit Cards

Personal finance bloggers might want to bookmark Credit Card Assist for future reference. It will reduce the amount of time you spend on research. Saving time, money and earning freebies is what personal finance blogging is all about!