Home ownership is an important financial goal for many people. Pride of ownership is the number one reason why people want to own their own home. Home ownership gives you and your family a sense of stability and security and allows you to make an investment in your future. A home is often the largest investment, and sometimes the only investment, that some people make. However, you may wonder if buying a home is the right thing to do. Relax. …
Health care includes medical and dental services, prescription drugs, and insurance costs. These costs have historically increased faster than the rate of inflation. By becoming an infomed consumer and making well thought out decisions regarding your health care, you can not only save money but receive quality care.
Financial planning is a process based on what each person considers most important based on his or her values and goals.
A financial plan is really a coordinated series of plans that begins with goals and objectives reflecting values, attitudes, lifestyle circumstances, needs, and wants. The process helps individuals develop and implement financial moves to reach financial objectives.
Decision making is a very important aspect of the financial planning process. It is the key element in making choices about how …
A will is one component of an estate plan. Although necessary to direct the distribution of assets after death, almost 70 percent of U.S. adults do not have wills. Many people think they do not need a will because they do not have many assets, or they think that preparing a will costs too much. Dying without a will is called dying …
In the world of shopping both on the web and in the stores, it pays to be a knowledgeable consumer. By making wise decisions using your resources in exchange for goods and services, you can extend these resources. Being a smart shopper involves being informed when buyng a car or home, preventing identity theft, understanding credit, resolving problems after a purchase, and much more.
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Credit can be a successful financial management tool. Using credit allows you flexibility in managing your budget to purchase goods and services when they are needed the most, not when you have the cash on hand to pay for them. You are offered credit because people trust you to repay them within a stated period of time.
Consumer credit takes many forms, including installment loans, credit cards, department store revolving charge accounts, home …
Children are not born with “money sense.” Children learn about money by example and experience, beginning at a very young age. Parents are an important influence on what and how children learn about money. It is never to early to start teaching sound money management skills. Begin teaching basic principles of money as soon as children can understand that money is needed to buy the things they enjoy.
Much of what your children learn about money is not from the …
Barbara O’Neill, Extension Specialist in Financial Resource Management
Rutgers Cooperative Extension
March 2019
Plan Now for Financial Security in Later Life
One of the most frequently cited financial goals of investors is having a comfortable lifestyle in later life. Ideally, investing for retirement should take place over four to five decades to maximize the awesome power of compound interest. With a long time frame, investors can also ride out inevitable downturns in the stock market.
Later life financial planning …
Barbara O’Neill, Extension Specialist in Financial Resource Management
Rutgers Cooperative Extension
January 2019
How to Select a Financial Advisor
There are times in life when professional financial advice can be very useful. Perhaps 2019 will be one of those years. Some of these times involve significant life events such as changing jobs, retirement, getting married, having or adopting children, widowhood, and getting divorced. Others involve the need to make major investment decisions such as receiving a lump sum distribution …
