Top Financial Tips for Millennials

Are you a millennial who feels overwhelmed trying to manage your finances? Are you getting the most out of your money? Financial literacy is not often taught in schools and they don’t do a great job preparing their graduates to manage their finances. So when you’re out of college and start real life, it can be a little overwhelming and it is easy to get yourselves into debt and other financial trouble.

Most millennials are currently in their 20s and 30s – a time when many young people are ready to make major financial decisions in their lives, like home ownership, long-term investment activity, etc. If you’re currently a part of this generation here’s your crash course on what you should do to improve your financial wellness:

Take online financial courses
Since most young adults have the propensity for technology it is suggested you take a few basic online courses in economics, accounting, and any other financial topics that may be of interest to you.

Embrace Technology
When it comes down to managing your money there is probably an app. To help you do that. These apps. Can categorize your spending habits and help you manage your spending. These insights can help you save money each month and then transfer that money directly to your savings. Online financial apps can help you make a workable budget for your lifestyle and ultimately change your net worth.

When it comes down to managing your money there is probably an app to help you do that. Mobile apps like Clarity Money can help you track any wasteful spending habits. Digit and Stash can recommend where you can save money each month and then transfer that money directly to your savings. Online financial apps can help you make a workable budget for your lifestyle and ultimately change your net worth.

Examine Your Current Bank Accounts
Are you paying fees? If so, for what? Monthly maintenance and minimum balance fees should never be a fee on your account statement. Free checking accounts, are available, especially at credit unions and these accounts will help you keep more of your own money in your pockets. So don’t settle for anything else.

Build Your Credit and Understand the Impact of your Credit Score
Early on, you may only have a student loan or a credit card on your credit report. But now it’s time to start building your credit. Ask your credit union about a Credit Builder Loan to help jumpstart your credit. And if you already have some active loans, make sure you’re making payments on time every month. You’ll need that good credit history when you want to make big purchases in the future like a car, rent an apartment, or get a mortgage for your first home.

It’s also important to know that if you are planning on opening up a business your personal credit may be the defining factor in your ability to access necessary working capital.

Repay Debt Tactically
Since we are on the topic of credit, a lot of young adults have credit cards with very high interest rates. Focus on paying off those debts first! If possible, transfer those balances to a lower-rate credit card. It’s much easier to pay down debt when more is going toward the balance.

Track everything to obtain your whole financial picture
Just as businesses manage their cash flow, individuals need to do the same by tracking their income, expenses, assets and liabilities. There are many online tools to help you like Mint, Quicken and Personal Capital.

Build an Emergency Fund
Unplanned/unfair/unfortunate events can happen in the blink of an eye. You may get in a car accident, have unforeseen medical expenses or lose your job. That’s why it’s important for everyone to have an emergency fund. The best way is to set up an automatic savings plan where you pay yourself first by depositing a portion of your paycheck into a separate savings account. If you forget it’s there you won’t be tempted to spend it.

Create a Long-Term Savings Strategy
An emergency fund is a short-term strategy, but you also can’t forget the big picture. Does your employer offer a matching 401(k)? If so, be sure to take advantage of that opportunity. It’s fundamentally free money, and it’s an investment in your future.

Get yourself a financial mentor
Even though there is an overabundance of information and apps on the Internet to help with your financial security, it is far superior to pick the brain and bounce questions off a trusted friend or colleague. Their pertinent insights will most likely be tailored to your specific requirements.

Use these financial tips listed above to get your finances on track while you’re still young. You’ve got a bright future ahead – so start now and stick with it. Your financial well-being will thank you! Although these tips are targeted at millennials, they’re useful for all ages.

ow to Stop an Online Gambling Addiction

Now even though gambling online is used mostly for entertainment purposes the advantage of earning cash may cause an individual to get addicted. You see it only takes one time for an individual to hit the jackpot when gambling online and they can almost immediately become hooked on the euphoria of winning. Now as with any addiction the individuals who have the problem always claim that they can stop when they want to and deny having a problem, however if you follow these straightforward steps you just might be able to stop the addiction of gambling online.

Step one, in our attempt to stop a gambling online addiction is, admit that you have a gambling online problem to yourself and your family and accept that you need help to stop. Step two if you are using a credit card to pay for your addiction of gambling online then cancel the card. You can ruin a good credit rating and may get yourself into so much debt that you may not be able to pay it back.

Step three, contact Gamblers Anonymous for counseling services as well as online support, this step is very crucial as it would allow you to see if you can overcome your addiction. Also remember there is no shame in attending these meetings because you are taking a positive step to dealing with your addiction. Step four, once you have found a GA group in your area make it a point to attend meeting at least weekly, it will make it a lot easy for you to overcome your gambling online addiction as you will see that there are many other individuals with the same problem you have and if they can manage to kick the habit then so can you.

Step five, you need to reduce all contact with these gambling online games, so what you need to do is visit the website ‘Gameblock’ and download the software which allows you to block all gambling online sites. Step six, find another activity that would replace the time you would usually spend on these gambling online games, for instances you can take up exercise, you can read or spend more time with your family. The final step, step seven, even though you are attending the gamblers anonymous group what you could do is make an appointment to visit a therapist as gambling online can be a substitute for something that is lacking in your life. In closing, remember that we are all humans, and we all make mistakes in life what separates us is those who recognize they have a problem and get help, so do it today.

Self Growth Techniques for Personal Success

What is self growth? It is about shaping yourself to become a better person with solid values, ethics and a well balanced approach to life. It is the process of working on your areas of improvement and turning them into areas of strength and opportunities. Just how can you do that? Here are five simple techniques for starters:

1. Learn from others. Start with your immediate family and closest friends. What are some of their traits that you admire? What have they accomplished that makes you want to be like them? Talk to them and ask them what they did to achieve self growth that led to their professional and personal success. Then check out famous people whose work you admire and read articles on how they got to the top of their profession. Learn as much as you can about their individual techniques and see which ones you can adopt for yourself.

2. Observe admirable people. Look at how they conduct themselves, from the way they walk, talk, sit and generally behave in public. Such refinement can only be a product of effective self growth techniques, which include polishing one’s looks, movements and skill sets to complete the overall package of the person. Look at how they treat others and are treated in turn. You can take a page out of their demeanor to propel yourself towards personal success and professional recognition. This isn’t to say you should mimic their every move; just derive the best practices possible from them that you can employ for your own good.

3. Assess your own attitude. How have you been behaving by your lonesome? Are you a person of integrity – always doing the right thing even when no one is looking? How are you with other people around? Do you exercise kindness and consideration for others, or are you being fueled by your own selfish needs for personal success? Bear in mind that in order to succeed at self growth, you must possess a mature disposition and a kind heart. Aim to be a caring and morally upright person no matter where you go. The universe has a way of rewarding people who treat others well and punishing those who won’t hesitate to trample on the feelings and rights of others.

4. Envision the kind of person you would like to be one day. This is a great self growth exercise that can provide you inspiration on your journey to professional and personal success. Paint a picture of the Ideal You – the kind of individual you wish to become in the future. How do you see yourself in that image? Do you see a nation-building politician, the next Mother Teresa, or the next Steve Jobs? Use your imagination as your mood board to guide you as you work on your greatest ambition.

5. Get rid of vices that may be harmful to your self growth. Are you quick to turn to painkillers when you feel the slightest muscle twitch? Do you tend to gorge on sugary snacks and drinks to keep your energy levels up as you slave over a very important project? Remove all self destructive habits from your system and start living clean! You won’t be able to enjoy personal success if your health takes a nosedive and renders you bedridden most of the time. So go have that physical check up and get tips from your physician and nutritionist on how to live a healthier and more wholesome lifestyle.