Financial Planning
Tips for Dealing with Cash Crunches
Aug 16th
Cash flow is the lifeblood of any business.
Understanding how money moves in and out of your company will help you measure the amount of cash you have on hand—and prepare you for any surpluses or shortages down the road.
Projecting your cash flow is a bit like preparing your budget and balancing your checkbook at the same time. You’ll begin with a starting point—say, the first of the year—and then you’ll outline your anticipated income and expenditures for the next several months or year. Be careful about assuming too much—and don’t forget to factor in everything from insurance payments to raises in employees’ salaries.
To read the rest of this article by Colleen DeBaise, go to http://bit.ly/97Rfx7.
Getting Your Kid Covered and in the Game
Aug 13th
Here is my confession: when the World Cup was televised last month, I didn’t view a single game. When people talk about “March Madness,” I think they’re talking about the quirkiness of the weather. I love riding my bike – but not watching the Tour de France.
| Even though I’m not much of a sports fan, I knew how important it was to go and cheer on my daughters when they played field hockey in high school. Physical activity is so important for good health – and organized sports are the best way to get most kids moving. When it comes to participating in school and community sports, nothing should stand in a child’s way – especially the lack of affordable health insurance. |  |
But without health insurance, it’s hard for kids to get the physical exams they need to be able to play. For other families, the fear of medical bills that could result from a sports injury leave them reluctant to let their children participate.
To read the rest of this article by Cindy Mann, Deputy Administrator and Director of the Center for Medicaid, CHIP, and Survey & Certification at the Centers for Medicare and Medicaid Services, please go to http://bit.ly/cE3HIQ.
The Right Age to Teach Kids About Money
Aug 9th
Question: What is the right age to start teaching kids about money?
Answer: If they are breathing, they should be learning about money!
OK, that may seem a little over zealous, but here’s the thing…
Just like our need for oxygen from the moment we pop out into the planet, most of us don’t survive very well without ample amounts of financial resources to provide for the things we need. We really do NEED money in our lives to survive well and you can’t convince me otherwise.
Even if you’re a monk, somewhere there is money exchanging hands to handle your needs.
The fact is, you can work for (trade your time and energy for), beg, borrow or steel, the things that you need to live: water, food, clothing, shelter, education, transportation, etc. Even if YOU are not working for these things, it took money for SOMEONE to pay for what you are begging, borrowing or stealing!
Where is MONEY on the NEEDS vs WANTS scale anyway?
To read the rest of this article by Elisabeth Donati and get ideas of what to teach kids at what age, please go to http://bit.ly/ckOg1K.
Are You Financially Literate?
Aug 2nd
According to Wikipedia, “Financial literacy is the ability to understand finance” and “Personal finance is to financial literacy what being able to read one’s own handwriting is to literacy. http://bit.ly/9KtE6f
Does your financial literacy need some brushing up? Check out the sites below for articles, tools, videos, and other resources:
30 Steps to Financial Wellness http://bit.ly/b4FXOA
360 Degrees of Financial Literacy http://bit.ly/dz4oMk
Feed the Pig http://bit.ly/c7an6U
Get Financial Finesse http://bit.ly/cVpLo0
My Money http://bit.ly/b4yYbe
NSLP Financial Literacy Online http://bit.ly/9Mhtjt
Life Events Present Financial-Planning Opportunities
Jul 20th
In June, I discussed the myriad issues clients often overlook or ignore that require changes in their estate plans. That column mentioned key life events that may necessitate estate plan updates. I merely listed them because the implications for planning seemed obvious. But on further reflection, I realized that some changes, such as the birth of a new child, have implications that are not always obvious. Although parts may seem basic, the list contains good talking points for advisors and clients.
To read the entire article by Martin Shankman, an estate planner in Paramus, N.J., please go to http://bit.ly/dx7Hte.
Money Smart, July 2010
Jul 7th
Money Smart is an online magazine for parents who teach their children about money. The July 2010 issue is available now. Included are the following topics:
- What celebrities teach their kids about money
- Encouraging your child to spend, share, & save
- The concept of money
- Enterprising ideas for the summer
You can find the July 2010 issue here: http://bit.ly/bvpWWj.
Changes to Student-loan Program Go into Effect
Jul 6th
The health care legislation provided for a number of changes in the government’s student-loan programs and policies. For example, as of July 1, the government’s Direct Loan program now issues all federal student loans as well as PLUS loans. Also, interest rates declined on many federal student loans, including subsidized Stafford loans.
For more information, go to http://bit.ly/coYSuM
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