Disclosure: This is a sponsored conversation written by me on behalf of Chevrolet. The opinions and experiences shared are all mine.
What do you know about budgeting, credit and proper investments? Honestly. Truly. The fact is there are hundreds of thousands of people just like you who may not have solid education on how to properly budget, manage credit or consider investments. The Rainbow PUSH Coalition with support from Chevrolet recently held a Money Matters Financial Empowerment Workshop in Harlem to help inform and inspire young adults about the possibilities of financial literacy and financial health. Because when you know better, you do better. Right? These educational sessions demystified the complexities of college financing, credit as well as the benefits of investing, budgeting basics and was just what I needed to jumpstart my new budget-making goals.
Do you know why you need credit history?
What about the importance of good credit?
Did you know: Payday loans can be very expensive form of credit?
What’s the major difference between saving and investing?
If you attended the Money Matters Financial Empowerment Workshop in Harlem, you should score an A+ on these financial quiz questions and have a deeper understanding and actionable steps on making your money work smarter and harder for you.
During the workshop, speakers like Dominique Broadway shared her insight on her journey to becoming a leading financial speaker and advisor. She also shared tips on how to start a budget, stick to a budget and overcome budgeting goals. A financial tip that I now use? The My Money Goals card is a great way to remind yourself of your budgeting goals. You simply write your goals on the card and stick it inside your wallet for safe keeping. It’s a gentile, yet hard-enough reminder to detour you from frivolously swiping your debit card or spending cash unnecessarily. If it isn’t going towards my money goals, it’s not THAT important.
Mr. Bill Cheeks is a veteran when it comes down to understanding and teaching the importance of good credit. He has a perfect credit score! A PERFECT CREDIT SCORE! I used to think having a perfect credit score was as mythical and mystical as a unicorn. Mr. Cheeks shared valuable tips including:
- Pay your bills on time.
- Have a small amount of total debt.
- Only use a small amount of your total available credit.
There were also insights that completely changed the way I look at credit. During the event, I personally learned how to avoid and/or report identity theft and how to use credit responsibly. There were sessions available for any and everyone that’s serious about their financial health. If you need to make a change to improve your financial health and want to make your money work harder and smarter for you, check out the instant replay of the Money Matters workshop in NYC. You’ll gain valuable insight on your financial health and get excited about getting started on making the right financial moves for you and your future.
The Money Matters Workshop is hitting the road and coming to a city near you. To register for the Money Matters workshop in Detroit (October 1st) and discover other Money Matters workshop stops throughout the country, visit www.rainbowpush.org.
This is a sponsored conversation written by me on behalf of Chevy . The opinions and text are all mine.
More and more women are taking on the role of their family’s chief financial officer. We set the budget, pay the bills, make the grocery list and can tell you how much it truly costs to run the family! Women have so many roles, however, that it can become tough and a bit overwhelming to keep track of it all. We have compiled a list of our favorite apps and websites that are easy, convenient, and most helpful to your pockets!
Financial planning can also bring down the anxiety you may feel about your debt-income ratio. According to Certified Financial Planner Board of Standards, Inc. “Financial planning provides direction and meaning to your financial decisions.” That is, when you have a plan for how to spend your money, and follow through with them, your financial life will be much easier. CFP also refers to financial planning as the process of meeting your life goals through the proper management of your money. Life goals can include buying a home, paying off your student debt, saving for your child’s education, or planning for retirement. We all have similar goals.
Sometimes it is good to seek advice from a professional financial planner such as an accountant or investment adviser but in the mean time, here are some tools to help you keep track of your finances.
Mint allows users to link their accounts- including banking, credit cards, loans, investments, and property. The website also gives each user tips on how to improve their finances based on trends they notice in the person’s spending habits. Downloadable on smart phones and tablets, Mint is also available when users are on the go.
Like Mint, OneBudget also links to users’ accounts and keeps track of their spending. Community interaction is a key trait of this website. Users are able to connect with people who are working toward the same financial goals. The makers of the website believe support is important and wanted to hone in on that by allowing people to share how they budget their money and learn from one another. After all, they say experience is the best teacher. Why not learn from others’ experiences?
This website does not keep track of spending for users but does offer a lot of resources. The 21 Federal entities that compose the Financial Literacy and Education Commission provide the materials that are available via the website and the 1-888-MyMoney hotline.
Last but not least, consider these best practices when approaching financial planning from the CFP:
1. Set measurable goals.
2. Understand the effect your financial decisions have on other financial issues.
3. Re-evaluate your financial plan periodically.
4. Start now, no matter your age – don’t assume financial planning is for when you get older.
5. Start with what you’ve got – don’t assume financial planning is only for the wealthy.
6. Take charge – you are in control of the financial planning engagement.
7. Look at the big picture – financial planning is more than just retirement planning or tax planning.
8. Don’t confuse financial planning with investing.
9. Don’t expect unrealistic returns on investments.
10. Don’t wait until a money crisis to begin financial planning.
The last one may be the most important. It falls under the realm of things you stay ready for so you don’t have to get ready. Take some time out this week to see where your money is going!
Have these websites/apps been helpful to you? Or do you have other financial planning tips that have helped you? Share below…
The deadline to file your taxes is closing in (this year, tax day is April 17), and if you’ve got simple forms to file and a few minutes before Tuesday, you can easily file using your iPhone. Both H&R Block and TurboTax offer iPhone apps to help you prepare and file your 1040EZ forms before the deadline. What are you waiting for? Get more info on each below.
- H&R Block at Home – This app makes it easy to file your federal and state taxes on the go. Snap a pic of your W2 and import it into your return, even get alerts when your return is accepted and on its way to your bank account. Plus, your information can be transferred over from your federal to your state return for easy completion. The upside to this app is that it’s free to prepare and free to e-file.
- TurboTax SnapTax – File both your federal and state taxes by snapping a photo of your W2s and answering a few questions. You can e-file both federal and state returns, but it’ll cost you $25.