May Dividends

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Yes it is my favorite time of the month and I am sure it is everyone elses. It is the time we add up our ever growing dividend stream which should put smiles on our faces. hopefully everyone is happy with their increasing streams of dividends.  its always fun adding up the income stream but when you realize this month every thing pays by the 22nd except on mutual fund it kind of like hey i need to spread this out more.

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Good advice for college grads

When you’re just entering the workforce, you may wonder what your financial priorities should be. The financial habits you develop now can have a big impact later, so it’s important to start out on the right foot. A recent survey from Forrester Consulting  found that a majority of millennials feel like they don’t know enough about how to manage their finances to meet their financial goals. These tips can help.

Even those coming out of high school might find these interesting put these together here and there on thoughts and things i ran across

  1. Keep your frugal student lifestyle. Your new steady income is exciting, but it’s easy to get carried away and overspend. Consider ways to keep your living costs low, such as living with roommates, driving your car a couple years longer and limiting unnecessary spending. Being frugal is about being smart with your money and being aware of the value of money and these frugal principles are ones which can benefit anyone, in any stage of life or financial situation. Being frugal is not about going without, but it’s about going without the things which are unnecessary. Therefore an important frugal principle is being smart with your money and to do this you need to know its value. This means you take the time to shop around for the best deal, or you pass over the more expensive product with extra features which you know you don’t need, to purchase the cheaper one you know you can afford, and which fulfils your needs.
  2. Take full advantage of employee benefits. Many employers offer matching contributions to a tax-advantaged retirement account. If you don’t contribute enough to earn the full match, you’re turning down free money. You may also be offered health insurance, short- and/or long-term disability insurance or life insurance at attractive group rates.
  3. Create and stick to a budget. Over Half of all millennials admit to being impulse shoppers, making unplanned purchases of $30 or more on a daily or weekly basis. Habits like that can keep you from reaching your financial goals. Include savings in your budget so you can build an emergency fund and save for major purchases, such as a house or a car. There are many online places that have budgets premade for you. This will be tough.  It is going to bring great challenges your way.  However, I can guarantee that it will be worth it in the end.  Just wait until you can finally control where your money goes instead of the other way around.  It is liberating.
  4. Improve your credit score. Pay all bills on time every time. Also, try not to use more than 30 to 50 percent of your credit limit, and think twice about closing old credit card accounts, since the length of your credit history affects your score, too.What you might not know: Even if you pay balances in full every month, you still could have a higher utilization ratio than you’d expect. That’s because some issuers use the balance on your statement as the one reported to the bureau. Even if you’re paying balances in full every month, your credit score will still weigh your monthly balances. One strategy: See if the credit card issuer will accept multiple payments throughout the month.
  5. Invest in yourself and your career. Your earning power is a valuable asset. Invest in it through networking and keeping your skills current. As technological advancements change the workplace, you need to have the skills that are in demand. Consider ongoing training and education.
  6. Protect your personal information. Keep identity thieves from stealing your information. Shred any paper document with sensitive information, and use strong passwords online and change them regularly. Avoid using public Wi-Fi for online banking. Protect your PIN and shield the keypad from view when using an ATM. Review your financial statements each month to make sure there are no fraudulent transactions.
  7. Pay off higher-interest debt first. Student loans make up the largest debt for most recent grads. If you also have credit card, it’s likely at a much higher interest rate.Putting as much as you can toward the higher-interest debt first will save you money and allow you to pay it off quicker, giving you more money to put toward your student loans.
  8. Look into consolidating student loans. Consolidating loans may make payments more manageable, but could cost more in the long run. It’s important to weigh the pros and cons before making a decision.

 

This isnt and exhaustive or conclusive many different ways and ideas if you are a recent college grad and what has been working for you is working stick to it.

Quarterly Net worth

This one is a little late because i could not remember my password to one account but did remember it so did not have to send away for it. hopefully i remember it for awhile lol. This one saw a nice little bump up which is good. nothing to write home about but we are getting closer and closer to FI which will be awesome. Continue reading “Quarterly Net worth”