In times where a job loss or emergency expense create a need for finding sources of income to pay the bills, one method that may help fill the temporary gap is borrowing from your retirement plan. However, this comes at the consequence of robbing your future so should only be considered for desperate measures. READ FULL ARTICLE
Tapping retirement plan for temporary funds carries huge risks
March 27, 2009 at 6:58 pm (Uncategorized)
Tips to save money and build savings
March 17, 2009 at 11:57 am (Uncategorized)
The savings rate in America as measured by the government has been zero or negative for years until now. The recession has been the wake-up call.
That savings rate is now 5 percent compared with a 0.1 percent rate a year ago—thanks largely to reduced spending.
It’s easier to increase spending than reduce spending, so Americans have been truly burdened. If you are needing to boost your savings and cut your spending, BillShrink.com has these tips: READ FULL ARTICLE
Thoughtful actions balance emotional reactions
March 8, 2009 at 2:39 am (Emotional finances, Investments)
A plethora of academic research has been conducted to determine rational patterns of which investments will provide optimal portfolios and returns. However, one area of research that is often ignored in these studies is how the human brain reacts to money and throws off the research. These reactions from the brain can prove detrimental to financial well-being.
The human brain is wired to react emotionally to all events before it begins to think logically. Advertisers are aware of this in order to make a product more appealing because humans base their decisions on desire. The wants over the needs makes investors often base a decision on feelings that arouse emotions, and often that feeling can take precedence even if in the face of suffering a financial shortfall. READ FULL ARTICLE
