Creating a personal financial plan

Personal financial planning is extremely important to your financial success. I can't express enough the importance of financial planning if you want to build on what you already have. Preparing a budget, 401k, retirement, college education, savings, annuity, Insurance and estate planning are very important.

Apr 29, 2010, Is An LLC Right For Me

Is An LLC Right For Me?

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Apr 28, 2010, Is An LLC Right For Your Business

An llc helps protect the members from being sued personally for any thing the entity did. Therefore the llc is a great way to organize your business to limit your exposure to law suits. Small businesses unfortunately make up about 68% of the lawsuits according to congress.

The llc is a very flexible way to form a business if you have more than one person involved in the business because each person becomes a member of the entity and can invest as much or as little as they can afford in the business so partners don't have to contribute equally in order to keep things fair. The profit and losses get divided up according to how many units you own in the entity. You can also control the decision making according to how many units an individual owns.

For tax purposes the llc is great because the income or losses flow through to the individiual members tax returns avoiding the double taxation that you get when you form a corporation.

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Apr 27, 2010, David Ramsey Budgeting

David Ramsey says when you budget you are spending on paper on purpose before the month begins. In other words you are spending your money with intentions. This is very true with budgeting and it's also true with financial planning in general because if you have a plan you can stay on track and adjust if you happen to get off track. When you plan your budget for the month it's important that you plan for every cent of your income for that month. Now that doesn't mean that you have to spend it all because some you may have to save for a bill that you only get quarterly or you should have a savings plan so some of that money would go into the savings plan. The key is to know where your money is going. You may be suprised to find that you have more money available than you think if you pay attention to where you are spending.

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Apr 26, 2010, Your Credit Score Can Get You Fired

Many companies check your credit before hiring you because they think that people with poor credit or bankruptcy are more likely to steal. 25% of companies say they won't hire a person with bankruptcy on their record. Some companies will let you explain a credit problem but many won't even ask they just assume the worst and move on to the next applicant. Reality is people have legitimate reasons for having a poor credit rating such as divorce, identity theft etc...

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Apr 19, 2010, David Ramsey

I think everybody should read David Ramsey's book and get a copy of his budget worksheet and use it. If you don't have a plan you won't reach your goals.

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