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Personal Finance InformationTop 10 Ways Managing Your Money Is Just Like Riding a BikeAn avid cyclist and bike racing fan, I sit transfixed during the many hours of Tour de France coverage every July when the race rolls around. This year, during some of the less-than-scintillating early miles of the sprint stages, my mind wandered a bit, and it occurred to me that there are some interesting parallels between winning the Tour de France and winning at personal finance.Having watched Lance Armstrong pull off the win for 7 years in a row, I?ve compiled this list of the Top 10 Ways Managing Your Money Is Just Like Riding a Bike:1. If you take safety precautions (e.g. helmet/emergency fund), you?ll feel a whole lot more relaxed and confident on the journey. 2. The better prepared you are, the greater your chances of succeeding. It?s important to learn from the past, but you must also scout out the road ahead and evolve with the constantly changing environment. 3. Crashes happen. The actions of other participants, bystanders, and the media can sometimes distract you from your goal. If you expect the unexpected and are able to respond with a level head, you?ll be better off. 4. If you take too many unnecessary risks, you might end up out of the race, and sometimes it can take quite a while to recover. 5. But you?ll probably have to take at least some calculated risks to come out ahead. For example, you might improve your performance by using cutting edge products, e.g. ultra-light wheels for big uphill climbs or, in the financial world, Health Savings Accounts (HSAs.) But you also make some tradeoffs, e.g. less stability going downhill or, with HSAs, penalties if you withdraw the money for something besides health care. 6. There will be rainy days, and there most certainly will be ups and downs. The one who weathers the tough days the best usually comes out ahead in the end. 7. You don?t have to come out on top (?beat the market,? so to speak) every day ? or any particular day, for that matter ? to win the overall race, the race that really matters. 8. You can go a lot farther if the team you surround yourself with has skills, experience, a well-defined goal, and the right motivation. 9. Even if you start at a huge disadvantage, you can emerge victorious if you have the right attitude, understand the rules of the game, and persist despite setbacks. 10. A little bit of luck never hurts!So the next time you?re in doubt as to which road to take on your personal financial journey, consider looking to the peloton for guidance and inspiration. Whether your goal is a yellow jersey on the Champs-Elys�es in July or a secure retirement, there?s a surprising amount to learn from watching a bunch of bike racers circumnavigate France. Congratulations, Lance! Reporting Identity TheftWould you know what to do if you suspect that your personal information had been stolen and used by thieves to open new accounts? It?s important that you take the right actions to clear your name as quickly as possible. Benefits of Personal Finance SoftwareIn this age of information, keeping track of your finances does not mean an archaic jumble of ledgers, calculators, and papers filled with calculations in chicken scratch. Now everything can be taken care of on your computer through personal finance software. Save Money on Groceries: Part IOne universal of humanity, no matter who you are or where you come from, you have to eat. Unless you grow your own food, you will have to go to the grocery store to get it. That means money. Here are two very simple but highly effective methods for saving money on the food you buy. I Want to Buy a Home - Now What?If you were to ask 100 women "What would you like to achieve financially?" Buying a home or apartment is usually one of the answers. Some women think that they can never own a home - which is not true! In fact, there are so many success stories of home buyers who never thought they would get there. In addition, homeowners tend to have greater financial success in the other areas of their finances life. I?ve seen it over and over. Bankruptcy Chapters ExplainedChapter 7 Strategies for SuccessHoly Shenanigans! More STUFF? Money Matters - Really!One of the biggest challenges facing black RELATIONSHIPS today are finances. Many people mistakenly feel that money does NOT matter. In fact, money matters the MOST! Why? Most people do not have a clue about their own financial destiny. 7 Simple Ways To Save MoneyEach of us knows how to spend money, but do we really know how to save our money? No, I am not necessarily talking about setting aside funds for an investments purposes ? a good thing ? but saving money on everyday items. Here are seven simple ways you can save money: Why Live FrugallyWhat is it about being frugal, why do it at all? Actually, some people don?t do it at all, they have decided that what they want and desire is what they are going to get and they feel they deserve it. I have no trouble with that; more power to ya, live long and prosper and may you die with the most toys. However, for me, I find little value in the things around me. How to Save for A Down PaymentSaving for a Down Payment is hard work, so it's a good idea to really want to own your own home by the time you begin your Savings Account. It's difficult to turn down a weekend in the Bahamas (or Downtown at the Clubs!) when you don't have a definite goal. 10 Money-Saving Tips1. If you have your haircut every 3 weeks, trygoing 4 or 5 weeks in between haircuts. If youpay $10 for a haircut, you could save $70 a yearby having a cut every 5 weeks instead of 3. Basic Bank Accounts Failing the Basic Needs of ConsumersThe lists of bank and savings accounts that are available to most people are bewildering. A quick look at a comparison site like Moneynet or Moneyfacts will reveal thousands of different products. Unfortunately many of these accounts are not accessible for anyone with either a poor or even no credit history. The Good and the Bad of Money ManagementGood money management needn't be difficult. In fact, there a number of easy steps recommended by most financial professionals to help manage your finances better. Avoiding A Nightmare On Renovation StreetYou've decided you want a bigger, better and more desirable house. How do you determine when to renovate, what to do and importantly, how much will it cost and will we get our money back?
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