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Archive for March, 2012

Did you know that the max annual contribution to a Roth IRA is $5,000. That is $416 per month. If you invest in a Roth IRA for thirty years at 8% interest, you will have $624,000 for retirement by 55. If you wait another ten years, your money will double to $1.4 Million. Never too early to start saving!

Wish I learned this over 10 years ago when I graduate from college!

 

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Did you know that where you work impacts your finances? You might have never thought about it before, but how much you enjoy your work often determines how well you handle your money.

If you hate your job and dread going into the office on Monday mornings, chances are that your work will impact other areas of your life as well. You probably will not be the best spouse you can be, the best parent you can be, and your faith will probably suffer as well. It will also impact how well you handle your money and you will be more likely not to pay attention to your money, overspend and get into debt.

However, if you are working at a job you love and are passionate about, you will be more productive at work and be more fun to have around the home. When that happens, don’t you think you are more likely to earn more money over time? I think so.

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A New Approach

Sometimes finding the answer is as easy as taking a break and stepping back from the situation.

Sometimes we can get so wrapped up in our thoughts that we wind up going round in round in circles, finding it difficult to concentrate on things and, because we are so distracted, not really accomplishing much. There may be signals—mental, emotional, and physical—that tell us we need to slow down and relax. Since we are so involved in things that are external to us, however, we may easily overlook what is really going on inside of us. It is during these times that we need to step back from the things that occupy our minds and take time out to connect with our inner self, giving our minds, bodies, and spirits the time they need to re-energize and heal.

At first it may seem that by taking a break we may not be as productive as we would initially like. In reality, a healthy period of rest is something that gives us a real sense of the unlimited nature of our true potential. Spending a couple of minutes walking outside, doing a few yoga poses, meditating, or simply becoming attuned to the rising and falling of our breath enables us to let go of our worries. This act brings our focus back to the things that are truly essential for us, such as our sense of oneness with the universe and our inner peace and well-being. As we begin to get in touch with this part of ourselves, we will find that our usual everyday troubles and worries become less critical and that we not only have much more room in our lives to really reflect on the issues that mean the most to us, but we are also able bring to all the situations we encounter a much more positive and healthy outlook.

Giving ourselves rest from our daily concerns is like giving a gift to ourselves. By stepping away from the problems that seem to saturate our thoughts, we lessen the weight of our troubles and instead become more receptive to the wisdom and answers the universe has to offer us.

 

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Hello world!

Welcome to WordPress.com. After you read this, you should delete and write your own post, with a new title above. Or hit Add New on the left (of the admin dashboard) to start a fresh post.

Here are some suggestions for your first post.

  1. You can find new ideas for what to blog about by reading the Daily Post.
  2. Add PressThis to your browser. It creates a new blog post for you about any interesting  page you read on the web.
  3. Make some changes to this page, and then hit preview on the right. You can always preview any post or edit it before you share it to the world.

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Organizing bills can be quite a chore if you do not do it regularly and if you do not use a consistent filing system. Unorganized bills can lead to disconnected utilities, late payments and lower credit scores. To take control of your bills and other financial paperwork, set routines on how to deal with incoming bills, when to pay bills and where to file bills once they are paid.

  1. Choose an area in your home to collect bills as they arrive each day. Choose an area that is easy to access. Some people may use a basket in their home office or a kitchen drawer dedicated to storing financial paperwork.
  2. Avoid piles of paperwork by accessing bills online or by scanning bills that arrive in the mail. If you prefer to have hard copies of your bills, purchase an expandable accordion file to use for bills. Since some bills are not available online, you probably need a small expandable file even if you prefer mostly electronic statements. Other paper storage options include file folders or a three-ring binder.
  3. Set a routine for filing and paying bills. For example, file bills on a certain day each week. Review and pay bills at least twice each month. If you have difficulty remembering to do these tasks, put them on your calendar.
  4. Organize your bills when filing them. You may either want a folder or accordion section for each month of the year if you do not have many bills. However, if you have numerous bills, you may want to file bills by categories such as utilities, insurance, medical, credit cards and loans. You may want to set aside a section for unpaid bills and then move the bills to the appropriate categories once they have been paid. Also, you may want another special section to file any bills that may be used for tax deductions, such as medical expenses and business-related expenses.
  5. Record due dates and amounts due when filing your bills. You can either use a calendar, a notebook or a spreadsheet to list bills.
  6. Purge your bill files yearly. Most bills can be thrown away, shredded preferably, after a year. Keep bills related to expensive purchases indefinitely just in case you need verification of your belongings for an insurance claim.

 

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