A disorganized financial life can spell disaster. But with a little effort, you can gain control of your money and start building a rewarding financial future. Start with these simple tasks. Create a bill paying system To avoid late fees and to understand exactly where your money is going, create a bill paying system. You must know exactly how much needs to be paid and when … [Read more...]
Money Monday: What’s The Secret To A Secure Retirement?
According to a recent survey by the Consumer Federation of America and Certified Financial Planner Board of Standards, about half of Americans are behind in retirement savings and only 34% of Americans say will be able to retire by age 65. As a result, some of us are planning to work longer. But as Dan Kadlec over at Time magazine points out, 57% of people quit work earlier … [Read more...]
Money Monday: Should You Pay Your Kids To Get Good Grades?
Let's face it, the job market is not what it used to be. No longer is a high school education enough to set you up for life. In the global economy, today's youth are vying with peers from Shanghai, Mumbai, and Jakarta in the competition for jobs. Because of this, academic success is more important than ever. But just how far should parents go to encourage their kids to do … [Read more...]
Money Monday: Do Smaller Plates Lead To Healthier Families?
by Dr. Charles Alonzo Peters I know I'm dating myself, but I remember the days when quenching your thirst meant going to the Coke machine, inserting your money, and then listening as a can of soda slid down the inside of the machine to be dispensed below. And that 12 ounce aluminum can of soda did the job. Think about this for a second. Most vending machines now … [Read more...]
Money Monday Rewind: Should You Lend Money To Friends Or Relatives?
Writers at Money magazine asked the question: Which would you rather have "“ a bad case of the flu or a relative ask you for a large loan? Not surprisingly, more than two thirds of the survey respondents answered they would rather suffer through the flu. Lending money to relatives can turn into a real sticky situation, altering the dynamics of the relationship. As the … [Read more...]
Money Monday: Should Married Women Keep A Secret Money Stash?
by Dr. Charles Alonzo Peters "Before my wedding day, my grandmother gave me this piece of advice: "Child, always keep a little something in the bank that he don't know about, just in case." This was the advice financial expert Michelle Singletary received from her grandma. Undoubtedly, many other grandmothers and mothers have said the same thing to their daughters. A … [Read more...]
Money Monday: How To Keep Your Kids From Consuming Dangerous Pesticides
by Dr. Charles Alonzo Peters Sometimes the more expensive option is the better choice. Yes, we may frown at the high prices of organic produce. That is, until we realize that much of the food we consume contains pesticides. Many of these pesticide residues remain, even after washing and peeling. The EPA warns that children may be especially susceptible to pesticides … [Read more...]
Money Monday: The Power of Small Steps
by Dr. Charles Alonzo Peters Do you flip through issues of Essence, Ebony, or Money magazine and come across great money advice? Do you read financial pearls of wisdom that you realize you should act on, but never get around to implementing? Yes, we understand that we should check our credit report for mistakes, but who has the time? Setting up a 401K sounds good. We … [Read more...]
Monday Monday: How To Keep Mental Accounting From Frittering Away Your Tax Refund
by Dr. Charles Alonzo Peters With the April 18th tax deadline gone, many of us are now anxiously awaiting the arrival of handsome tax refunds. In the US, the average refund check will approach $3,036, but experts agree that much of this money will be spent frivolously. To understand why, we must realize that our brains are wired to make mistakes with money. Take the … [Read more...]
Money Monday: Do You Give Money To Panhandlers?
by Dr. Charles Alonzo Peters Despite not having a lot of money, my parents would give their last dime to help those in need. Perhaps that's why I grew up having no problems giving money to panhandlers. Things changed, however, when I moved to Philadelphia for graduate school. Panhandlers were everywhere. Despite money being tight and having to subsist on Ramen noodles … [Read more...]
Money Monday: The “Poverty Vultures” Strike Again
by Dr. Charles Alonzo Peters Drive down any urban street and you're bound to come across tax preparation shops nestled in-between their title loan, rent-to-own, and check cashing cousins. Some are no-name "Mom and Pop" operations, while others are well-known national chains. Many aggressively push their services, sending grown people dressed in ridiculous costumes to cut … [Read more...]
Money Monday: Is Love Defined By The Size Of The Ring?
By Dr. Charles Alonzo Peters It seems when it comes to love size does matter. At least when it comes to the engagement ring. We've been caught up in one of the greatest marketing ploys of all time. Right up there with paying a 1000% markup to drink water from a plastic bottle. You know the typical Hollywood script. The newly engaged woman bursting at the seams … [Read more...]
Money Monday: Are You Being Nickeled and Dimed to Death?
by Dr. Charles Alonzo Peters I saw a sign - gas was $3.59 a gallon. I quickly swung the car around and turned into the gas station. Cheapest gas I'd seen in 20 miles. Yet as I pulled up to the pump I realized I'd been had. Underneath the large $3.59 signage, the barely perceptible letters "w/car wash." The normal price was 10 cents higher. Yes, the world is designed to … [Read more...]
Money Monday: Are We Becoming Slaves To Our Stuff?
by Dr. Charles Alonzo Peters We're suffocating in stuff. Our garages are overflowing, our attics busting at the seams, and our bedroom closets crammed to capacity. We even have whole television shows about hoarders, people who've taken the obsession with junk to the next level. My own war against stuff became crystal clear after paying my last self-storage bill - $91, … [Read more...]
Money Monday: The Sandwich Generation, Taking Care of Parents and Children
By Dr. Charles Alonzo Peters The recent deaths of my two grandmothers, both passing within the last month, forced me to face the reality that my own parents are getting on up in age. And witnessing the horrors our health care system, I realize that it will be up to my siblings and me to contribute significant financial resources in order to ensure they receive the best … [Read more...]