Hope for your financial life and beyond

4 Easy Ways to Get Your Finances Back on Track

The COVID-19 pandemic has left many in a financial ruin (or at least in less-than-ideal financial circumstances). People are reeling from what the shutdown and quarantines did to the economy and to their personal wealth. It’s important, maybe now more than ever, to make sure your finances are on track to meet your future goals. 

It’s is a good thing that businesses and travel have started to open back up. People are staring to get their lives back. Life is beginning to return to pre-Covid19 normal as vaccines are rolling out. With all this taking place, it brings additional incentive to look at your finances and see if you need to make adjustments to stay on track toward your goals. There is no better time than now to get started. 

There are many factors to consider with this. That’s why so many cannot and do not manage their finances well.  It simply can be a daunting task to know where to start and how to plan things out well.

It’s not overstating it to say that for many, finances can be one of the greatest causes of stress and anxiety. However, there are some simple tasks that can help get you started. Here are just a few easy ways for you to make sure your finances are on the path to success. 

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How To Land A Job In Healthcare

I have talked a lot on this blog about careers. There are so many directions a person can go with this, the possibilities seem endless. Of course they are not endless because not every career is right for you.

Some people won’t be able to get the necessary education. Some won’t have the discipline to pursue certain types of careers. Even personality comes into play. Some careers work better for certain types of personalities than others.

Job opportunities abound in all spaces and fields though. If you have an interest in something, you can more than likely find a job. And in some industries, there is an abundance of positions available. One such industry is healthcare.

Healthcare jobs are in high demand. The post-Covid19 years will prove to be a great opportunity for someone looking to get into this industry.

Working in healthcare can be a rewarding career, both personally and financially. However, it is not always an easy profession to get into right away. Although you may be smart, skilled, talented and educated, there are so many other job seekers out there.

To break into healthcare, you must be focused on the right areas. You have to know what it takes to land a job so you can give yourself a better chance of doing so. The following tips will help you know where to concentrate your efforts. This will give you a fighting chance to stand apart from the competition and secure a good job that you find satisfying.

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Three Loans that People Consider an Excellent Investment

Should you ever get a loan? Why not pay cash for everything? Is that even possible?

Technically the answer is yes, it is possible to pay cash for everything. And it is probably the prudent way to proceed. Why would you go into debt and owe all that money?

People often view loans as a negative thing in the modern world. It is proven that people get into trouble when borrowing money from a bank. You can also get into trouble if you borrow money from friends or family. And of course it matters what you borrow the money for. Some things may be helpful in the long run. Others, not so much. 

There are a lot of different loans on the market that are designed to meet your needs. In fact, some of these loans many people would actually call a good investment. Let’s take a look at several loans that many consider good and one that is a little more iffy. 

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A Beginner’s Guide to National Disability Insurance Scheme (NDIS) Real Estate Investing

There are so many new investing opportunities coming into the forefront these days. Most recently has been the rise of cryptocurrencies in the United States and around the world. These new forms of investing give investors a chance to diversify their portfolio. In the end, that is a good thing.  It spreads their money around so that one bad investment won’t ruin their financial life.

But what if your investment also went a long way in helping someone in need? What if you could make money but also help people at the same time? Well, one unique form of investing in this way has popped up in recent years in Australia.

It is known as the National Disability Insurance Scheme (NDIS). NDIS is an innovative initiative by the Federal Government to provide better housing for disabled tenants (who are themselves known as NDIS participants). With this program, investors can earn up to 16% of gross rental income. You receive the chance at long-term rental returns together with the potential growth of your property value. 

So what is this all about? Here is a beginner’s guide to understanding the National Disability Insurance Scheme (NDIS) real estate investing. 

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Is Investing in Collectibles Like Valuable Baseball Cards Worth It?

Like so many young boys, my love affair with baseball cards began in Little League. Each week our coach would give us a $1 to spend at the concession stand after the game. I spent my money on a cream soda and a pack of cards (none of which would become valuable baseball cards).

valuable baseball cardsIn those early days I didn’t have a lot of money so the collection grew slowly. I amassed several hundred cards and kept them rubber-banded together in a shoebox. I shuffled through them a lot so the surfaces became dull and the edges worn.

In 1986, I scrounged up enough money to buy my very first complete set of Topps baseball cards. I bought plastic card pages in which to insert each card and a three ring binder to hold all the pages. So began a decade of collecting the full sets and the update sets each year. By the time I ended college, I had amassed about 20,000 baseball cards.

Then marriage happened and grad school and buying a home and kids and a career and more kids. Through all that, the baseball cards spent years boxed up in the back of the closet rarely seeing the light of day.

My love affair with collecting baseball cards resurfaced about 10 years later in my early 30s. Some life events reinvigorated my love of the hobby. The best part was that I had more money than when I was 8.

I decided to do something different instead of purchasing individual packs or complete sets. My focus shifted to buying individual cards, ones where I could be more certain about their projected value. This can only be done by collecting those cards that are professionally graded.

This change of strategy required me to understand what I was getting into and why I was doing it.

How Do You Define Investing in Collectibles?

The above question is tricky to answer in part because it depends on your definition of “collecting” and “investing.”

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Tips for Managing Your Debt Responsibly

Whenever you look for financial advice, you probably see articles that advise you to avoid debt. In fact, I’ve written a lot about that here on this site. In fact, getting out and staying out of debt is a common characteristic that is listed among those who have reached millionaire status.

With that being said, it is becoming increasingly difficult – if not impossible for some – to get a college education or buy a house without borrowing money. College tuition continues to escalate, putting the funding of it out of reach for those families who did not start saving early enough. So many turn to the federal student loan program to fund part or all of their college education. 

Additionally, many see renting as “throwing away money.” I’m not one that subscribes to that. There are times when renting is the wisest choice. But it’s a hard mental hurdle to overcome. A mortgage where you can have a forced savings plan by paying yourself each month through the reduction of the principal, seems like the best course of action.

In many people’s eyes, the two types of debt listed above are considered “good debt.” In other words, they are the type of debt that can lead to further benefits down the road. Let’s explore that concept some more. And let’s look at some tips that can help you know when it might not be such a bad idea to borrow and how to manage the debt that you have.

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Why Millennials Are The Best Renters and How Landlords Can Attract Them

The number of people renting properties instead of buying them is still at a historically high level. Increasing house prices and stagnating wages make it more difficult to put together the necessary down payment. That down payment is important if you are looking to avoid extra costs of homeownership like mortgage insurance.

This leave many people in a position it makes the most sense to rent. And as a property investors, that is good news for you. It provides an excellent opportunity to make money as a landlord because it’s easier than ever to find tenants. 

making a bedOf all the age demographics, millennials (defined as young adults between 25 and 40 years old)  are the group most likely to live in a rental property right now. They are also set to become the largest living generation in a matter of years, so if you are investing in a rental property, they are your target market.

Unfortunately, a lot of landlords do not realize this. When they are buying and renovating properties, they don’t take specific steps to attract millennials. So, if you want to maximize your profits and reduce any issues with tenant turnover, these are the best ways to attract millennials. 

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The Easy and Hard Parts to Becoming a Millionaire by Age 65

Would you feel financially secure if you became a millionaire? I’d say most people would. A million dollar net worth provides the cushion you’d need to weather almost any financial storm. Becoming a millionaire should set your financial worries at ease.

becoming a millionaireThat doesn’t mean though, that when you reach that milestone, you can live recklessly and spend money on whatever you want. Do that and you might find yourself broke before you know it.

Nor does it necessarily mean you can stop working. A millionaire at 75 can sit back and enjoy the fruit of their labor. A millionaire at 35 still has many more years of life expenses in front of them that one million dollars may not cover entirely.

Becoming a millionaire is both easy and hard. That may seem contradictory. How can something be both easy and hard? As you can see from the following graphs, the contradictory nature of that statement can best be viewed through three variables:

time, income and choices.

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Bringing Business Agility Into Your Interactions

What is business agility? Maybe the more important question to ask is “Does your business have it?” And if not, how do you go about getting it? 

Put into simple terms, business agility is the process and ability to constantly adapt to a changing environment. Someone once said that the only thing constant in life is change. How ironic. That proves true in our personal lives as well as in the business world.

Look no closer than the pandemic of 2020. The pandemic hit businesses by surprise. It forced them to adjust rapidly to survive. According to research, over 9 in 10 organizations developed their digital strategy as a response to the global pandemic. That is a little scary – that around 90% of businesses did not have a digital strategy in place before the crisis hit.

This, in essence, is one of the most compelling reasons why business agility matters. A company that remains static is digging its own grave. 

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9 Things To Consider Before Relocating

My wife and I have moved 5 times in our adult life. Two of those moves were into and out of apartments. The three others were into and out of residential homes. Each was necessary at the time as we were entering a new stage of our lives together. 

But wow – how much work it took! Way more than we thought. From the time the thought of moving entered our minds, to the time we had finished unpacking in our new place, so much effort went into the move.

Moving into a new home will be more work and commitment than it seems. Although you may have moved before, or multiple times, each move is different. Each property requires different attention, time, money and effort. 

So before you move, it is important to weigh the pros and cons. Relocating takes many shapes and sizes, whether you are moving to a new city, across the country or to a new country altogether. It’s a big commitment and there are many things to consider. Here are just a few. 

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How Long Do Common Household Items Last?

Did you have an appliance or other household items that need repairing? We have had several big household items hit our budget over the years. The washer-dryer combo, a new refrigerator and a new stove have all needed to be replaced over the years. And who could forget the really big one – the new heating and cooling units that brought in a new air conditioning and furnace. Wow – those were really expensive!

All in all, having lived in three homes over the course of our marriage, my wife and I have had to replace the following list of items:

3 new air conditioning units, 2 new furnaces, 2 new refrigerators, a new stove, a new dishwasher, a new microwave, a new garbage disposal, 2 new water heaters, a new dryer, 2 new washing machines (bad luck here), 5 new vacuums (we buy the cheaper ones), 4 new televisions, 2 new garage doors (main and basement), 3 new lawnmowers and countless other electronic devices (computers, iDevices, clocks, etc.)

In case you didn’t know, this is the reality of owning a home. All these items will break at some point. When that occurs, you will either have to a) do without or b) replace them. So it may be helpful before you purchase to know how long these items will last.

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