Archive for the ‘Banking’ Category

Teach Your Teen About Saving Money

Saturday, August 8th, 2009

One of the biggest reasons why having a teenage child can be difficult is because teenagers tend to spend money easily and freely without any real regard for what goes into earning that money in the first place. Teenagers tend to spend a great deal of money on clothes, shoes, toys, video games, computer stuff, without ever really buying anything that they need. One of your biggest jobs as a parent is to teach them how to save their money.

First of all, you should teach your teenager how to save money by opening them up a bank account. When they have their own bank account, they will have a paper transcription of how and where they spend their money. Deposit their allowance directly into the bank account, and explain to them that once the money is gone for the month, it’s gone. This will teach your teens to be more savvy when saving money because they will have a better idea of how much goes in and how much comes out, and will learn to better track their expenditures accordingly if they know that the money will eventually run out if they are not careful.

Give a man a fish and you feed him for a day.

Another consideration that you need to make when it comes to teens saving money is a really valuable quote that applies to many situations including this one: “Give a man a fish and you feed him for a day. Teach him how to fish and you feed him for a lifetime.” What this quote means is that giving your teenager an allowance, or money for the movies, or for any other reason, they will use that money and then it will be gone. If on the other hand you teach your teens how to handle their money and save their money, it will prepare them for a lifetime of financial fitness, which is the most ideal situation. By teaching your teen how to earn and save money, how to invest, and so on, you are preparing them for a lifetime of intelligent financial decisions. This may not prevent them from making poor decisions in the future, but it will better prepare them for what life throws at them as they get older.

You absolutely must be able to teach your teenage children how to handle their money. Once they understand what goes into making or earning the money, saving the money and investing the money, they will spend their money more wisely in the future. Teach your children how to invest, and how to get the most out of their money, and you will find them being excited about saving their money rather than spending it frivolously. If you want your teens to be savvy when it comes to saving and investing their hard earned money, you have to teach them the value of that money and what can be done with it besides buying designer jeans, ring tones and other toys. Not only will you benefit, but they will benefit significantly as well.

Photo Credits: 1

Originally posted 2020-12-09 05:03:43. Republished by Old Post Promoter

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Child Savings and Investment

Monday, July 27th, 2009

Children cost money – are you ready?

Having children is not a cheap proposition these days, especially when you consider long term costs. The older your children become, the more they are going to end up costing in the long run. High education prices, for example, continue to soar making it nearly impossible for you to put your children through school. The housing market is also becoming nearly impossible. All of these things seem really far ahead when your child is young, but if you do not start saving up now you may find yourself really short in terms of capital and income when you finally do need the money to get things going.

Surveys are luckily suggesting that people are beginning to understand this concept. Child savings and investment plans are absolutely vital if we want to be financially prepared for everything that goes into rearing our children from beginning to end in the future. When we first have children, they are expensive enough, and keeping them in diapers is hard work. Little do we know at that point however, how many thousands of dollars will have to go into their educations, keeping them clothed and fed, and putting a roof over their heads for the next eighteen years or so. If you want to be prepared financially for everything that is involved in raising your children to adulthood, then you need to begin planning as far ahead as you can using child savings and investment planning to make sure that you have enough money in the future.

You should not start saving when your children are young, but rather before they are even born. If you know that you plan on having children some day, begin saving the day that the decision is made. Even if you change your mind later, the money will still go to good use, so it is better to plan ahead and be safe than to be sorry in a few years when you do not have the savings you need to afford the education of your children.

When it comes to planning for your child’s future, planning ahead is always best. The sooner you begin to plan, save and invest, the better off you will be when you finally need to utilize that money. If you do not take the time to plan ahead, you may run into a point where you do not have the capital you need to take care of your children properly. Imagine trying to send your children to college and finding that you lack the capital to get them there, as well as the credit score to obtain the lending that is required. Can you imagine the disappointment that your children will have if they cannot go to the school of their dreams? Nip that risk in the bud as early as you can by planning early, saving and investing often, and working hard to create a good life for your children long before you ever have to.

Photo Credits: 1

Originally posted 2020-11-27 05:01:07. Republished by Old Post Promoter

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Loanio Roundup – P2P Lending and More

Thursday, July 23rd, 2009

What investments are you making?

Good morning readers and welcome to another edition of Loanio’s weekly roundup. Below you’ll find several great articles under the categories of small business, the economy, p2p lending, and investing. We hope you find them helpful and interesting.

The Economy:

  • Smart Money says Traders are Cautious After Mixed Economic Data.
  • Is business truly the business of business? Debates the Economist.
  • Kiplinger writes about Safe Havens in Real Estate.
  • Market Watch says Stocks struggle for stability.
  • NPR announces ‘Tis Not The Season For Retail Jobs.

Small Business:

  • NY Times on Small Business and the Economic Crisis.
  • FT has Doubts that small business will gain.
  • Arizona Republic says company owners explain how they are scrambling to fund operations.
  • The Chronicle Herald publishes these common sense key to success.
  • Brooklyn Daily News writes Grameen America lending women a hand with small business loans.

Peer-to-Peer Lending:

  • South Coast Today on Peer-to-peer lending: Weighing benefits, risks.
  • NPR writes Peer Lending Spreads In Tight Credit Market.
  • Denver Post says Help from friends boosts loan-challenged.
  • P2P Banking on P2P lending companies by loan volume
  • NetBanker in response to P2P Banking with Peer-to-Peer Lending Volumes Worldwide.
  • Propser Lending Review asks How might an Obama/Biden administration change p2p lending?

Investing:

  • Learn the Stock Market and How to Trade on the Investing Market – 10 Better Things To Do With Your Money.
  • Learn a lesson — before you get one by Market Watch on 10 rules for stock market investing.

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Originally posted 2020-11-23 05:19:07. Republished by Old Post Promoter

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Loanio Roundup – Veteran’s Edition

Thursday, July 16th, 2009

Thank you to our Nation's Veterans.

Loanio would like to thank all the men and women who have put their lives on the line to protect America’s freedom and ideals. Your sacrifices and bravery have been beneficial to many and are greatly appreciated.

Below you’ll find links to resources, both blog and news articles on the economy, small business, p2p lending, and investing. We hope you find them helpful in navigating the financial waters of the internet.

The Economy:

Small Business:

Peer-to-Peer Lending:

Investing:

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Originally posted 2020-11-16 05:13:56. Republished by Old Post Promoter

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How Do I Plan For Retirement

Tuesday, July 14th, 2009

Every working man and woman is entitled to a retirement that is secure and comfortable. Saving and planning for retirement is not necessarily an easy process however because we are living longer and healthier lives in general, which means we need more money to survive retirement than ever before. If you want to learn how to plan for a healthy, comfortable and secure retirement then you need to begin planning wisely using a blueprint similar to the one outlined below:

What do you plan to do in your retirement?

– Save early and often. –

The sooner that you begin to save money, the longer the amount of time you will have for those funds to grow. By putting compounding to use, you can make gains every year that will add on to the gains of the prior year, and so on and so forth. This can really add up, fueling the growth of your retirement fund.

– Set realistic and attainable goals. –

Do not use rules of thumb to project your retirement expenses, because they are based upon your needs and not the needs of others before you. What type of lifestyle do you want to live when you retire? Figure out the expenses accordingly and use these expenses to formulate how much money is needed to supplement social security and other income sources during retirement.

– Save using a 401(k). –

This is one of the best and one of the easiest ways that you can save money. Making contributions towards a 401(k) plan can provide you with immediate tax deductions, matched contributions from your employer, and even a tax deferment on the growth that your retirement savings accrues. This is absolutely excellent advice for anyone who ever wondered how to plan for retirement.

– Utilize IRAs for retirement savings with tax advantages. –

IRAs provide you with large tax breaks much in the same way that 401(k)s can. They offer two different types of tax breaks, one which provides growth that is tax deferred, and one that provides tax free growth but doesn’t allow for deductible contributions the way that traditional IRAs can. Roth IRAs do not allow deductible contributions, which mean withdrawals do not require you to owe any taxes in the way that traditional IRAs do.

– Make wise asset allocation moves. –

This means that your portfolio should be divided between stocks and bonds in a wise manner so that you can make a strong and powerful impact on any of the long term investment returns that you have. Stocks are the best option for stable and long term methods of growth, while bonds work well both in the short term and long term. Still, you should not rely too heavily on bonds when planning for retirement. If you want to stretch your nest egg’s life out to the best of its capabilities, you absolutely must make tax efficient withdrawals.

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Originally posted 2020-11-14 05:57:29. Republished by Old Post Promoter

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Loanio Roundup – Congratulations President-Elect Obama

Thursday, July 9th, 2009

President-Elect Obama

Loanio extends its congratulations to President-Elect Obama for running an excellent campaign.

This week’s edition of Loanio’s roundup takes a look at the election and what it means for the economy. What are your thoughts to the issues? We’ve also included several links for business entrepreneurs and on p2p lending for your weekend reading.

The Economy and the Election:

Small Business:

Peer-to-Peer Lending:

Loanio in the News:

Photo Credit: 1

Originally posted 2020-11-09 05:33:00. Republished by Old Post Promoter

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Loanio Roundup – Dia de Los Muertos

Thursday, July 2nd, 2009

Financial State of the Economy

Good morning and welcome to the Dia de Los Muertos edition of Loanio’s roundup. Dia de Los Muertos is a holiday celebration that takes place primarily in Mexico and celebrates the dead. It goes by Day of the Dead in English and correspondingly it matches the Catholic holidays of All Saints Day and All Souls Day. Below you will find links in easy to manage categories on the following topics: the economy, small business, p2p lending, and Loanio. See what people are saying and have a great day.

The Economy:

  • Smart Money says It’s Not What You Buy but How You Buy It
  • Approaching zero writes the Economist.
  • Forbes announces that The Credit Crisis Is The Least Of Our Worries
  • CNN Money takes a look at AIG’s fancy refinancing play
  • Banks Vow to Use Rescue Fund for Loans Wall Street Journal reports.

Small Business:

  • Here are some Financing Options for Businesses by Kiplinger.
  • Persevere through the recession with your home business over at Mighty Bargain Hunter.
  • Make You Rich presents these Funding Options for Small Business Owners
  • HBC writes up Home Business Tax Deductions
  • 7 Business Planning Fundamentals for Hard Times by BPlans.

Peer-to-Peer Lending:

  • Video by Blip.tv on Peer to Peer Loans and Credit Scores – Episode #71
  • San Francisco Business Times says Prosper suspends lending, Zopa exits U.S. market
  • Salt Lake City Tribune posts Money Tip: Weighing benefits, risks of peer-to-peer lending
  • Say Educate asks Is Peer To Peer Lending Right For You?
  • Money Under Thirty blogs Peer-to-Peer Lending Hits a Roadblock

Loanio in the News:

  • eFinance Blog writes a P2P Lending Update: Prosper, Lending Club, Zopa, Loanio
  • Shotguns and Penguins does a post On a Quest for Social Lending
  • Rate Ladder mentions us briefly in Renaud Laplanche, Lending Club CEO in the News

Photo Credit: 1

Originally posted 2020-11-02 05:24:16. Republished by Old Post Promoter

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  • 5 Tips for College Students on Budgets When you are in college, it can become easy to get caught up in your busy, stressful lifestyle. With all of the studying and working that you have to do, coupled with hanging out with your friends, working part time jobs and participating in extra activities, it can actually become……
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  • Sunday Money Madness: Money and Frugalness Hello and welcome to the Money and Frugalness edition of the Sunday Money Madness Roundup. Several categories are presented below to help break up the collection of weekend reading links. Pull up a seat, grab your coffee and peruse to your heart’s content. Save Money | Frugal Tips: Digerati Life……
  • smallWhere Do Small Businesses Go Now? Credit and money are still in really tight places, and this is absolutely no secret. What is unknown in the current economy is what small businesses should do and where they should go now. Many small businesses are finding themselves struggling and even drowning in an attempt to overcome the……
  • College Money Matters This article is part of the Money Matters for All Ages group writing project being conducted by the M-Network and other blogging friends. See the bottom of this article for the full list of participants and links to their articles. Please check back daily as I will update the links……
  • Lending Club and Prosper Rate Differential: Opportunity or Not? In my post, “My Foray into Prosper as a P2P Lender,” one of my readers (PeerLend.com) introduced me to Lending Club: “In early December [2007], Lending Club opened their (formerly FaceBook users only) lending application to the wider public. They do things a bit differently than Prosper, as they underwrite……