Yearly Archives - 2013

How to Budget for Special Occasions

It’s that time of the year where we party hearty!  We have block parties, celebrate weddings, have family reunions and let’s not forget the barbecues! To ensure your event runs smoothly, you need a plan. Along with the guest list and venue, you will need a budget. For the event planner or the party planner at heart, you know this is vital.  Money is the heart of any special occasion and it is what makes the event possible. So for you newbies or veterans, [...]

How Not To Let Your Wedding Break You

Congratulations! You’re getting married! Now it’s onto planning your special day!  There’s so much that must be running through your minds as an engaged couple. How many guests will we invite? Where will we host the reception? Who is a good decorator we can hire? Where can we find an excellent photographer? Do we travel for our honeymoon or do we honeymoon at a local hotel? In the midst of the questioning, we know it can be challenging to strike a balance between the dream wedding and [...]

Let’s Talk Insurance!

Today we feature our guest blogger, Romelle Greenidge. He graciously accepted to share his expertise on insurance:  The first issue with insurance is that not many people understand how it works. Movies give the impression it comes into play automatically and money is given out whenever someone dies or an accident occurs. Yet all day, online or on television, we are bombarded with insurance ads. Companies tell us how cheap it is and how easy it is to get it. People call [...]

How to Create Your Personal Income Statement

A personal income statement is much like an income statement businesses use in their financial reporting practices. Before we tell you how to create your personal income statement, let us first define the term income statement. An income statement is a financial statement used to calculate the profitability of a company or entity for a specific period. Whether it be monthly, quarterly or annually. A company’s profitability is calculated using the following equation: Net Income = Income – Expenses If a company’s expenses are [...]

How to Create Your Personal Income Statement

A personal income statement is much like an income statement businesses use in their financial reporting practices. Before we tell you how to create your personal income statement, let us first define the term income statement. An income statement is a financial statement used to calculate the profitability of a company or entity for a specific period. Whether it be monthly, quarterly or annually. A company’s profitability is calculated using the following equation: Net Income = Income – Expenses If a company’s expenses are [...]

Setting Up Your Financial Management System

Have you thought of setting up your financial management system? Not sure where to start? Well look no further, because we’ll tell you how you can accomplish this. First, let’s define the term system: A system is a set of processes working cohesively to achieve an objective. In this case, your objective would be manage your money well. Below are a couple components you could implement in your financial management system: A list of financial goals – Before you embark your journey to financial soundness [...]

Setting Up Your Financial Management System

Have you thought of setting up your financial management system? Not sure where to start? Well look no further, because we’ll tell you how you can accomplish this. First, let’s define the term system: A system is a set of processes working cohesively to achieve an objective. In this case, your objective would be manage your money well. Below are a couple components you could implement in your financial management system: A list of financial goals – Before you embark your journey to financial soundness [...]

Steps to Financial Soundness

According to dictionary.com, the word “financial” means anything pertaining or relating to money matters. Also, “soundness” means a state or condition free from damage or decay. Hence, financial soundness brings to mind the following: Peace of mind Stability Freedom Here’s a question we always like to ask – Would you like to become financially sound? Wait. Before you answer, read these following steps and see if you’ll be willing to get there: Step 1 Make A Plan –  Know your destination. Create a route to get there. Step 2  Be [...]