What Should Be Included in a Family Financial Planning?

Family financial planning is not a one-man affair. The whole family should be included in this process. You should also take into account the responsibilities, goals and dreams of each family member as well as the resources that you have to work with.

Ideally, there are certain elements that should not miss out in any family financial plan. These elements include the following:

1. An appropriate medical cover for the entire family.
2. A retirement package for the parents.
3. A fund to secure the children’s education.
4. A provision for home ownership.
5. An insurance package for the breadwinner of the family

You can form other financial goals around these critical elements.

The Importance of a Family Financial Planning

It helps you to save a lot of money. The careful allocation of financial resources in the home leads to better use of money. Your family will become more conscious of how money is spent. You will therefore reduce the wastage of money that is usually associated with a carefree and unaccountable spending environment. You will have more money for your retirement, children’s college fund and health insurance. You can even save up for family vacations when you have secured the critical elements of a family financial plan.

It adequately prepares you for the future. You and your family will be secure in case of any economic crisis such as the world financial meltdown witnessed in 2008. You will not have to worry about financial uncertainty since your family will be financially stable.

Family financial planning also takes in account the dreams and aspirations of everyone in the family. It puts everything into perspective and drives these perspectives forward. It helps to create harmony and a good sense of direction in the family. Your family will appreciate the fact that you are building a stable foundation for them to prosper and build an even greater future for themselves.

How to Ensure That a Family Financial Planning Succeeds

As mentioned earlier, family financial planning is an all-inclusive activity. It cannot be successful without the cooperation and support of your entire family. You must gain this support through inspiration. You must assure each and every one in the family that their goal has been taken into account. It is not necessary that their goals be a priority as they would prefer but it is necessary to recognize that their goals do exist.

Your family financial planning should be realistic. Your plan should take into account the available resources. Ensure that you and your family use these resources carefully. Emphasize the potential payoff that is likely to occur if your family you and your family use your resources wisely.

Finally, it is also important that you brush up on your family financial planning skills. You can do this by browsing our website and learning more about financial prudence. If you have any questions for us on family financial planning then please do not hesitate to contact us.

Financial Planning for Students is Very Crucial

When new students arrive in college for summer registration, the first college official to spend time with them is the academic advisor. During advising period, normally the advisor has a list containing items that have to be covered in the meeting none of which relates to financial issues. In most cases, academic advisors have continued to refer fiscal questions to the financial assistant office. However, this is not necessary.

Complete academic advising usually includes financial issues, major selection as well as career planning; all of which are very important for the success of the student. Not like other students success areas including time management and motivation, students have little control if any over their fiscal assistance situations. Many parents and students are inexperienced to the factors influencing the college education financing. They may feel vulnerable during the fiscal assistance process. Albeit students may struggle to do almost everything as required during the process, they usually come during summer registration uncertain of their potential to afford college fees.

In case academic advisors are to advise a family or students about fiscal issue effectively, they require basic knowledge regarding working principle of financial aid process as well as issues related to funding a university or college education. The following recommendations can assist advisors increase their skills and knowledge about financial planning for students:

Attend a seminar, workshop and/ or course on financial planning for students.
Meet with a fiscal assistant representative on your college to learn about the process of application. Following the session, request the representative to serve as a direct link to the financial assistant office. Advisors who practice this can direct students having financial assistant questions to an individual rather than an office.

Advisors should be updated of financial assistance help deadlines on their colleges. They should be aware of the effect of such deadline on the student’s fees and courses. Besides, learn how shifting classes has impacts on Financial assistance of students.

What is the importance of financial planning for students? The main noted reason that causes students drop out of college or university is financial concerns. On various colleges, we hold academic advisors liable for student diligence. The main method to augment the persistence of the student is to expand the knowledge of the students about fiscal issues. While there exist formal financial planning for students that have been successful with university or college students, academic advisors can offer students with easy financial education that may assist them persist in campus.

Academic advisors may discuss various fiscal challenges with students such as the worth of a college education, explain payment and cancellation of the registration process, financial constraint should not bar a student from getting the right courses among many others.

Financial Planning For Small Businesses

1. Cash Flow Management

A small business will most likely have some variations in revenue generation. This is usually due to a variety of reasons, maybe seasonality of product or service or just a shift in customer needs and requirements. Through financial planning a small business owner will take into consideration such fluctuations and will be able to control expenditure during both seasons; when there is a surplus the business will not overspend but rather save as it awaits the low season and when there is less cash the business owner will strive to ensure he meets the basic needs of the company like paying suppliers and employees. All these can only be achieved by putting in place a proper financial plan for guidance and comparative purposes.

2. Get a long term view

Running a small business is usually very time consuming and tedious; this is due to the fact that there is a lot of multitasking in a small business. This trend if left unchecked can lead to a situation where the organization is always on a fire fighting and survival mode. An organization may thus lose focus and concentrate on pressing issues; getting their eyes off the ball. A financial plan is always focused on the future, this will assist a small business to know what they need to do, where they need to spend, what they need to ignore and check on what their competitors are doing.

3. Check on current trends

A business owner in a small business makes numerous decisions on a day to day basis; most of these decisions are made on an ad hoc basis and require to be checked against planned strategies. Financial planning for small business will ensure that the organization is acutely aware about the market trends. By checking the actual performance against projected targets a small business will be able to notice what the current trends are. They can thus make more informed decisions on where to put more effort or where to milk out the profits.

4. Check on Progress

Just like in any other enterprise a small business needs, from time to time, to check on its progress report in terms of targets, market share, total revenues, and total costs etc. Financial planning for small business will ensure that the business owner can get hard facts in terms of figures on the well being or otherwise of the business. This affords the small business owner an opportunity to pragmatically make decisions that are based on hard facts and figures on whether the path the company has taken will steer the company to greater heights or whether it is time to go to the trenches and re-strategize.

Financial Planning for Business Owners

1. Taxes

One of the most common mistakes for business owners is deferring taxes. This is a pit that only gets deeper with time. Be sure to stay on top of your tax situation no matter how badly your business is doing. The fallacy is that the taxes will be easy to pay as the business grows. The truth of the matter is that paying taxes when the business is making little and paying taxes when its making more is one and the same thing., the more you make the more the taxes and the lesser you make the lesser the taxes. A habit formed like this will lead to a risky pile up and a nasty visit from the IRS.

Financial Planning for Business Owners

2. Extra money management

You will need to know what to do with your profits. There is a huge difference between saving money and investing the same money. Saving money is important in business and financial planning for business owners. This basically means cash that you cannot afford to lose as a business. This is money that is kept just in case the business goes through a dry period. Investing money is the kind of money that you can afford to lose unless you are investing in the same business. Even then, the money will be subject to losses. Ensure that you balance both key factors by not saving all your money leading to missing expansion opportunities and also investing all your money, risking losing all of it.

3. Knowledge is power

You will also need to research on the methods financial planning for business owners that are in the market today. Information is a business owners’ best friend. The more you know about managing finances when it comes to business the more likely you are to make great decisions. Take financial management classes, seminars, webinars and tutoring so as to safeguard your business against losses and damage due to incompetency.

Tips for Financial Planning for Business Owners through Financial institutions

You will need to watch the financial institutions you work with. Loans, savings and investments could be your end or the best decision you have ever made. Work with institutions that work with finality and not speculation. Your money should earn interest while in savings how much you earn is dependent on the institution you use. Making your money work for you is the best thing. You should not be at the mercies of the institutions. A financial institution that makes you feel like this is not a good idea for you. Financial institution is must for financial planning for business owners.

Business Ideas to Help You Make Money in the Internet

- Affiliate Marketing

Affiliate marketing is considered to be one of the most effective methods to make money in the internet. To make money online, all you need to do is find a product which you can become an affiliate of, and then simply promote that product on a blog or website, and whenever someone may buy that product you will receive a certain commission. The great thing about affiliate marketing is the fact that you can earn a passive income. Regardless of how often you may be promoting, you will be able to make sales. As long as articles are promoting the products you’re affiliated to, you can make sales and earn money.

- Freelance Writing

Another method to make money in the internet online is through freelance writing. This method is considered to be one of the fastest techniques to make instant cash, as all you need to do is find a site that offers writing jobs or offer your own article writing services for a certain amount, and you will instantly get paid. Publishers all over the world are constantly trying to get great content articles for their business or blogs, and they don’t often want to write those articles. This is why they pay a ton of money to writers that are capable to write superior content.

- EBay

Making money in the internet on eBay is also a very great method which has gotten a lot of popularity through the years. All you need to do is find your old items at home and sell them on eBay. If you don’t want to sell any of your personal items, then what you should do is purchase quality items for an affordable price and resells them on eBay. Many people believe that you can find the most affordable rates on eBay which is why many people sell random items on the site.

- Paid Surveys

Paid surveys are probably the easiest and most fun successful at home business. All you have to do is find a paid survey site that offers surveys you can complete, and for each survey, you will get paid a certain amount. The reason why these surveys pay people money is the fact that business and companies want to know the public’s thoughts of their business. Your opinions cost a lot of money and can be a great online business.

The amounts of ways to make money online are endless and the benefits are infinite. All you need to do is find
the right business that suits you and your expertise the best. After choosing the best money making method, you will then be able to make money in the internet.

Financial Planning for Business

Analysis of Financial Reports:

Making plans for the future of a business requires the analysis of financial reports and for this, only very experienced professionals will need to consider this task. When the financial experts will review the financial records of the company, they will be able to clearly see the present condition of the business and any growth registered. Basically, planning helps with comparing various situations and also offers a complex understanding of how money is expended and also earned in an organization. Eventually, it becomes a vital factor that helps determine the areas of the company that need to be improved, financially speaking.

Assets:

Financial planning for business is fully responsible for the proper monitoring of the business’ or company’s assets. Because the financial reports contain records of remaining, earned and expended assets, in keeping up to date record of the business’ resources, financial planning for business becomes utterly necessary. It helps with analyzing the intangible assets, the current assets and the fixed assets of the business. Financial projection will basically consider the aforementioned 3 factors before it will decide on the best way to gain and expend resources.

Liabilities

The financial reports will not only hold information in what regards the various assets of the company, but at the same time they’re also responsible for setting the company’s various liabilities. Not only has that, but financial planning for business also required a thorough analysis of the organization’s owner’s equity, long term debt and current liabilities.

For a business, this is very helpful because it helps it a lot with keeping track of liabilities due in the near future. On top of that, it also helps the organization with planning out on how to devote and finance resources to its debts, before they’ll get in the way of business operations.

Financial planning for business

Income and Profit Loss:

To gain a thorough understanding of profit and income loss, financial planning for business requires the review of financial reports. For a business this is vital, because it helps it with identifying its revenue or sales, net income, operating expenses, gross profit, cost of sales and cost of goods sold. When the business becomes aware of these factors, it will easily determine which ventures require improvements and which ones were profitable.

Pro-Activeness:

After the financial reports have been examined, an increase in pro-activeness will be noticed not only in those involved in the business, but in the business itself. With the help of financial planning, gains, losses, problems and various conditions can easily be predicted. It allows the top management and managers to have a great understanding of the business’ current situation and think ahead of the situation, so they can be better prepared. Eventually, financial planning for business may also help with identifying various business opportunities, which in some cases can be very profitable.

It’s a time-consuming process, and that means a financial planner could be the best investment someone could make. Whether they’re very wealthy and tend to sell and buy gold or trade stocks and shares, or they’re a young couple wanting to invest in an uncertain future, financial planners are worth the fees they charge. They are capable economic thinkers who seek out the best possible solutions to a financial problem, and assist people in achieving their economic goals.

People claim that there is plenty of free advice on the internet, and there are some amazing sources of advice given by generous people – but advice is, largely, only worth what you pay for it. A $1,000 investment in financial planning is nothing compared to losing a total of $10,000 down the line, and a financial planner can help you avoid these mistakes.

There are, however, bad financial planners – you will need to avoid these, and a simple test is to ask whether they’re taking commission from the products and services they recommend – if so, avoid them (or at least make sure you are completely comfortable with the products and they have adequately explained why they are recommending THIS product to you over another). If they are making no money from a recommendation, it means there is no bias towards a B-grade product over an A-grade product they don’t benefit from financially.

A financial planner can also help you structure your future investments and will possibly become your go-to source of financial advice for many years to come, similar to your personal accountant or your lawyer. People rarely change their financial planners once they have found someone who does the job well and for a good price, so find yours and take advantage of what they are offering to you, the client.

Taking the plunge brings many advantages (work where you want and when you want) however on top of such a big life adjustment comes a new dimension of financial planning. When you first become self employed you want a start off by establishing a cash reserve of around six months. A financial plan is essential so you don’t spend all your cash, a common mistake that leads many people to fail there first attempt at self employment.

The sense of security and financial stability that comes with a regular pay check doesn’t exist, and you’ll quickly discover this when you start off down the self-employed path. Some months your rolling in cash, others you’ll frantically search for change behind the couch as two repo men load your flat screen into the back of a van. You need to factor dry months into your financial plans so you don’t run out of cash.

You also must remember to keep your personal and business finances separate. Have a financial plan for your business life and one for your personal life. Having a distinct financial plan for your business keeps things much simpler and helps to stop your personal life affecting your business one.

Another good idea is to treat yourself as an employee and give yourself a regular pay check. This helps stop over spending and allows your business to grow spare capital which can be used to buy supplies, cover future work expenses, hire more help, or any other business expansion.

Being your own boss means no employee benefits so, like every other aspect of the self employed life style, you need to deal with them yourself. Things like pensions and insurance all need to be factored into your financial plan to ensure financial security when you’re old and frail.

You also need to consider taxes. You can save a lot of cash by making tax claims on business expenses. However, you need to keep receipts and be able to prove it’s business related, trying to explain the family trip to Barbados as a business trip probably won’t go down well.

If you’re living in the US then you also need to pay self employment tax which covers your social security and Medicare. Also you can’t have a 401K plan, however there are alternatives available you can consider.

Finally, if all this is starting to make your head swim, there is always the option of outsourcing the financial side of your business. This is when you pay someone to deal with the finances. Although it costs money, it means it’s done by a professional and you can put the extra time to working towards growing your new business.

Whatever you decide, remember that being self-employed is a fun and rewarding (and often challenging) endeavor that many take on but in which few find success. By avoiding some of these potential financial blunders, you’ll be able to avoid many of the common traps that entrepreneurs fall into when it comes to their finances.

Weddings are not only a cherished event and memory for family and friends alike, they also happen to be big business. Check out these numbers:

• There are 2.3 million weddings in the U.S. each year.
• That breaks down to roughly 6200 every day (just in the United States).
• Approximately $70 Billion is spent on weddings per year.

According to TheKnot.com the average wedding costs just under $30,000! Unless you have that kind of money lying around, let’s talk about how to plan your wedding without going broke in the process.

Remember What The Day Is About

Nothing bugs me more then when I watch a show on TV and all the bride (or groom for that matter) can do is gripe, moan, and complain about how that one flower petal looks bad or that they can’t stand their great Aunt Sue and she is going to ruin the day if she comes. You know the people I’m talking about. Are you one of them???

What they fail to remember is that getting married is not about the wedding. The wedding is what starts that journey and while important, is not NEARLY as important as the life you and your spouse will begin thereafter. Your wedding is ONE day. Your marriage should be for the rest of you life. Do you really want to spend money you don’t have on a day that will be over before you know it?

Don’t misunderstand me. I’m not advocating going down to the county court house (unless that’s something you want to do). What I am saying is that the right perspective has to be there on this all-important day.

Make A List

Don’t just go into your wedding thinking the money is going to magically appear or that your credit card will just pay itself off someday. Instead, map out what are the 1, 2, or 3 most important things to you on that day and then figure out how to pay for them in the cheapest way possible while not sacrificing the quality you are wanting.

Plan Together

This is a fun one and almost always gets people into the right frame of mind. Once you’ve figured out all the things you absolutely must have in your wedding, sit down with your spouse and together discuss 1) How You Can Afford It – notice I didn’t say IF you can afford it and 2) If You Both Feel That’s A Wise Investment – even if your parents are paying for the wedding this is an important exercise.

What you’ll discover is that the “money language” you and your soon-to-be-spouse will have to establish is often a little awkward and uncomfortable in the beginning. Since so much of what leads up to a wedding is about dreams, daisies, and complete and utter bliss – couples enter a marriage without having ever discussed things like money management, savings, investing and of course our favorite: financial planning.

Which is a BIG mistake.

All this to say, take the time to sit down with your spouse and at a minimum decide together what you have to spend, what you want to spend it on, and how you can creatively come up with the money to pay for the things you want (that you may not have the money for just yet).

At the end of the day, learning how to plan a wedding on a financially sound footing will do wonders for the start of your marriage. If you want to really kick your marriage into overdrive, wake up every day and ask yourself this one question, “How can I serve my spouse today?”

It’s a tough question, but it’s one of the best-kept “secrets” to a long and happy marriage!

Weddings was our 96th reason that YOU need financial planning, and to learn all 101 be sure to check out our Financial Planning 101 article. This fun yet informative article covers many of the top reasons that financial planning is so absolutely important.

If you are on a tight budget but still would like to pull off the wedding of your dreams, check out Wedding Planning on a Tight Budget. Yes, we make a small commission if you decide to purchase from them but the program is great and well worth your time to check it out.

Air flights are normally the most expensive part of traveling. Yet, with planning and perseverance, you can drastically reduce the cost of flying. Booking months in advance or catching last minute flights are real money savers. Also, avoid big commercial airlines, smaller ones, while not as luxurious, are much cheaper and can save you a fortune in the long run. Websites like SkyScanner are great for finding the cheapest flights going.

Another big traveling expense is accommodation. If hotel costs are wreaking havoc with your financial plan then consider alternatives. One option is couch surfing, where you sleep on someone’s couch for free. A longer term alternative is working for room and board; websites like World Wide Opportunities for Organic Farming (WWOOF) lets you work on a farm in return for a place to sleep and regular meals. These are not only great ways to save money, but they also offer a fantastic opportunity to meet the locals.

Food also needs to be factored into your financial plan. Dining out every night will quickly eat up your savings, so why not cook yourself? All you need is a small gas cooker, a sauce pan, some basic cutlery and groceries.

Prices vary from country to country. In poorer parts of the world your money will go much further and you can feel pleased for contributing to their economy. This is a great way to reel in your expenses and will likely prove far more adventurous!

Also, talk to the locals and other travelers. They often prove an invaluable source of information on how to avoid the tourist traps and where the cheapest places in town are. This not only reduces your costs, but helps you avoid the touristy areas of each country you visit.

This isn’t an exclusive list, but putting these ideas into action will greatly reduce your traveling costs and have your traveler’s financial plan with far fewer figures at the bottom of the expenditures list. Happy Traveling!

This article is part seven in the article series Financial Planning 101.

You need a financial plan. Life is uncertain. No one is completely secure financially and, let’s face it, most people are completely unprepared for retirement. Financial planning is simply a necessary part of life.

So how do you write one? Below is a quick step-by-step guide to writing your own financial plan. Of course, it’s not a complete financial plan. You’ll have to customize your own. But below are the major issues your plan will need to tackle.

Establish Your Goals

The first step is to figure out exactly what you want in life. Think about the kind of life you want to live. Think about the location, the size of the home, the education — think of everything remotely related to finance. Don’t be afraid to dream — you only live once.

It’s important to get your thoughts onto paper. Get a pen and paper, or open up a word document on your computer. Start writing details of how you want the future to look like. Once you have your idealistic goals written down, remember to factor into account the “boring” goals — a well-stocked kitchen, insurance, etc.

Your goals should include:

• Education. Regardless of your age, extra education is always plausible. I’ve taken college courses with people in their teens and individuals in their 70s. What do you want to understand? Is college even necessary to achieve your other goals? That said, remember: you’ll also need to plan your children’s college degree, supposing you agree to pay for it, of course.

• Occupation. What field do you -want- to work in? Do you want a typical 9-5? Do you want to work in the creative economy? Do you want your own business? Do you want to build a passive income? Remember, the purpose of your job is financial happiness.

• Lifestyle. In the same line of thought as your occupation, how do you want to spend your life? Is work your main focus? Are you fine with “simpler living?” Does your life have to be filled with activities and hobbies? What kind of vehicle do you need/want? These all cost money, and must be factored. Discover what your income must be to achieve your basic lifestyle goals. This is the part that takes research, but make sure to do it… it’s essential to know what must be done.

• Residence. Where do you want to live? You most certainly don’t have to stay wherever you are. The beach, the country, the mountains, the city — all of these are possibilities. Once you move there, what size of a home do you want? You’ll have to do the research to figure out how much it costs.

• Retirement. After you calculate the above, you’ll need to factor in retirement. How do you want to live while retired? Will you live with family? Will you move to a retirement community?

• Insurance. One of the few things that are certain in life is that nothing is certain in life. Clever cliches aside, you need to be insured for worst case scenarios. Insurance is an essential part of financial security. Every financial plan must have provisions for insurance.

Chances are, it costs much less to achieve your life goals than you’d think. Even if you plan a lofty life of monthly vacations, the amount of money you’ll actually need to achieve your goals will be relatively short.

Timothy Ferris is an incredibly controversial author. He wrote the book “The Four Hour Workweek.” The book details how one can go about achieving extremely “far fetched” life goals quickly and without spending nearly as much money as one would think.

Ferris wrote a great introductory article here about how how a little goes much further than we thought. Check it out — it can be life changing. Your dreams are probably relatively cheap.

Plan Your Income

Of course, your financial plan isn’t just about your dreams. You’ll have to pay for it all in some manner — this is the part that trips most people up. If you open most financial planning books (even those by the gurus), almost all of them suppose one thing: that you’ll continue down your current path of employment forever.

Though it’s possible to continue the same job forever, it doesn’t usually happen. It’s a fact: people change jobs all the time. Some people even start their own businesses, sell their skill via freelance work, or find other methods of income. Don’t forget to read the free series How to Make Money for more non-traditional views of how to build an income.

The three most popular are:

• Career. You know the rap: go to college, get a job, work hard up the ladder to prosperity. This is almost always a good idea, with a few exceptions. A vast majority of those who need a financial plan need to emphasize their career while planning.

• Business. According to a recent Harris poll, 72% of people are considering a home business. Growing up, my family owned and operated a small business. Business isn’t just for those with fancy MBAs and connections — especially not in this age. Starting your own vending machine business, managing lawn care, making money online with a website… the possibilities are limitless.

• Investing. Investing is one of the most powerful ways to build an income. Rather than focusing on getting new money, investing is simply exponentially growing the money you already have. You can buy gold, purchase real estate, achieve a higher level education, the stock market or others. Regardless if you are a business owner or an employee, you should unleash the power of exponential to make more money to achieve your goals. Even putting your money into an online savings account is better than letting your money sit idly.

Writing Your Financial Plan

In a sense, your financial plan is a budget on steroids. You’ll be budgeting not just your next paycheck, but for your entire life. A financial plan is simply a budget that factors into account goals, new income and time.

Now comes the fun part: figuring out exactly when you’ll do what you want to do. After all, it’s not good enough to just know what you want. That’s just the first step of planning. The actual plan comes in the form of knowing how you’ll get there and when you’ll get there.

There’s no “plug and go” way of writing your financial plan. Every plan looks a little different. Be as creative as you want, as long as you accomplish the following goals somewhere in your plan:

• Establish a timeline. Where do you want to be in five years? Ten? Thirty? Fifty? Establish how you plan your financial life will look like at these points. Factor the below information and criteria into your plan:

• Research necessary costs. Your current “bills” plus 5% inflation per year. Don’t forget to factor in life insurance, health insurance, car insurance, etc.

• Research luxury costs. What you “want” to do. Figure out what kind of money you’ll need to live the lifestyle you want. Cruises, nice cars, nice house, etc. Education can be considered a luxury cost, because it’s a way of getting extra income. If you plan on paying your child’s way through school, you’ll need to factor this in as well.

• Plot income strategy. For most, this simply means factoring in salaries. But don’t forget that your job isn’t your only means of income. Starting a side business, a money making hobby, or even making money online are options for income and extra income.
  

• Plan Investments. Investing is simply a must to counteract against inflation. You can invest in stocks, mutual funds, bonds, real estate, gold, collections — you get the point. Just make sure you know what you’re doing, and don’t put all of your eggs in one basket. As you age, financial security should become more and more important.

Remember to factor in every cost and possible incomes. Whenever you aren’t sure how the numbers will add up, be a little pessimistic — it’s safer that way. But when it comes to how you will make money, don’t be so pessimistic as to think that you “have to” stick with a job just because it makes the most money.

The Key to a Good Financial Plan

Writing a financial plan isn’t “hard” — but it takes rationality and creativity. You have to be rational enough to assess your current situation, creative enough to see what is possible, and have the integrity to follow through with the plan. Remember, just because it’s on paper doesn’t mean it will happen — you have to decide to follow through and live up to your goals. This is the hardest part, and the one that trips most up.

Writing a financial plan is always about your goals. Always. Unfortunately, so many of us get so caught up in “financial” that we forget the purpose of “planning.” Remember, it’s not about the money — it’s about getting what you want out of life. Money is just the tool.

To learn more about the purpose of writing a financial plan, don’t forget to read the rest of the articles in the series Financial Planning 101.

Normal savings accounts don’t earn very much interest and therefore may not be the best option. With this in mind, here are four alternatives with significantly higher rates of return.

Online Savings Accounts

One alternative to the traditional savings account is a savings account with an online bank.

Online banks offer higher interest because they cost less to run then normal banks, which cost more due to having local office branches.

Money Market Account

The money put into a money marketing account is invested in things such as stocks and bonds.

The down side of money market accounts are minimum deposit, but they do offer higher interest rates then savings accounts.

Certificates of Deposit

Certificates of deposit (CDs) are a great place to store money you won’t need access to in the immediate future.

There is a minimum time frame normally between 6-12 months that you can deposit the money, however it is important to be sure that you won’t need the money before the minimum deadline as there is a penalty fee for withdrawing money before hand.

US Saving Bonds

A Bond is a bit like a loan where you buy government or corporate debt which they then pay interest on.

Bonds are considered a safe option as they are government controlled and covered by FDUI insurance.

Another advantage of US saving bonds is that, unlike interest from other accounts, they are not susceptible to taxation. However, bonds can take a while to mature.

Savings bonds are a whole new category in themselves, as there are a number of different types of savings bonds, all with their own advantages and disadvantages.

101 reasons YOU need a financial plan…

101. To Protect Yourself Financially

No one likes to think about bad things happening, however you must at least plan for the worst while expecting the best. Somewhere in middle life happens, and proper financial planning will keep you humble in the ups and encouraged in the downs.

100. Eliminate Debt

According to the Wall Street Journal, “Total U.S. household debt, including mortgages and credit-card balances, fell 1.7% in 2009 to $13.5 trillion—the first annual drop since records began in 1945. The debt amounts to $43,874 per U.S. resident.“

Before you think that ALL debt is bad (which we address later on), it is generally believed that eliminating debt is a good thing. We tend to agree. If eliminating your personal debt is the destination, financial planning is the road map to get there.

99. Birth

The average out-of-pocket cost for doctor/hospital bills when giving birth is over $10,000. This assumes no insurance and a just about problem-free 9 months. If your baby needs to spend some time in the Neonatal Intensive Care Unit (NICU), it is not uncommon for daily charges to run in the $3,000 – $8,000 range and higher…considerably higher.

Insurance helps mitigate some of this cost, but if you are self-employed or just like paying things out of pocket, expect to spend a minimum of $15,000 just to bring your healthy bundle of joy into the world. Think that’s expensive? Ohhh just wait.

98. Children

According to the U.S. Department of Agriculture, a baby born in 2008 will cost low-income households $210,340, middle-income households: $291,570, and high-income households: $483,750 just to get them to the age of 18 (not counting college). Depressed? Check out college costs.

97. College

College Board estimates that for a baby born in 2010, the cost of college in 2028 will exceed $250,000 for an in-state school and over $500,000 for private schools. Trade school anyone?

96. Wedding

TheKnot.com says the average wedding cost is $28,385 – or the equivalent of giving birth to 2 healthy babies – or attending 1 semester of private college in 2028!

95. Funeral

Interestingly enough…between birth, children, college, a wedding, or death, death is the cheapest! But don’t worry (and don’t get any ideas)…financial planning not only prepares you for each of these major life events, it helps you identify all available options now so the reality of these events doesn’t … well … kill you later!

94. Keep Spending Under Control

Generally speaking, people don’t have a saving problem, they have a spending problem. If you find yourself wondering why you run out of money before running out of month, starting tracking every penny you spend over a 30-day period. Not only will you be completely shocked at just how much money falls through the proverbial crack each month, you will have accomplished the first step in setting up your own financial plan.

93. So You Can Buy Something Big

How do you expect to buy something big if you can’t even meet your current month’s bills? The short answer is you won’t. Remember when you were little and you saved for months and months to get that special toy? Think with that mindset, and you’ll be set.

92. You Know What Will Happen If You Don’t

Have you ever sat there watching a rerun of a show for the 20th time and wondered to yourself, “I know exactly how this is going to end…why am I still watching it and why am I not doing something else?” The simple truth is that if you don’t plan for your financial future then your finances simply won’t have one.

I think C.S. Lewis in The Weight of Glory says it best, “The only people who achieve much are those who want knowledge so badly that they seek it while the conditions are still unfavorable.”

91. Retire When You Want

Retire doesn’t have to mean lazy. Retire can simply be getting to the point where you and money have swapped places. Money now works for you, and you get to work for your next passion in life. Retire at 21? Retire at 81? It’s all possible.

90. Long-Term Care Is Long-Term Expensive

Genworth has a great website on care costs by state. Do you know what 1 year, semi-private room at a nursing home in California costs? $73,000.

89. Care For Aging Relatives

Continuing with the previous point, as many of our parents and grandparents continue to age, more consistent medical care is often needed. Should you find yourself shouldering some of that financial cost, setting up a financial plan early can help you manage this most important of financial realities down the road.

88. Pass The Wealth

Even though the numbers point to the fact that most wealthy people earn their money as opposed to inheriting it, chances are you’ll want to pass something of a financial legacy on to your kids. Interestingly enough, money habits are passed on to your kids whether you leave them with money (or debt) or not — AND whether you like it or not. More on that a little later.

87. Improves Your Credit Score

Improving your credit score is a standard by-product of financial planning. Just as losing weight is the by-product of evaluating and lowering your caloric intake, (1) making payments on time, (2) keeping total debt under control, and (3) keeping old accounts open (yes, keeping them open) are three key factors that can help increase your credit score.

86. Cut Expenses

Cutting expenses is not only one of the pillars to modern financial planning, it’s often the money saved from current expenses that provides the capital to save or invest. Later on we’ll cover just how much the average person overspends on their everyday purchases.

85. Save For Retirement

When it comes to money, people often think they have the best of intentions (and think is the key word since that’s about all they do when it comes to financial planning: they think about it)! Financial planning not only allows you to analyze your current savings and spending patterns, it allows you to identify dollars that can and should be used for a rainy day. And just because we used the word retirement, don’t think this means you need to hang up your hat at some day. The key with this point is that saving for tomorrow has to start today.

84. Lose The Guilt

Guilt and money usually meet at the crossroads of I can’t afford it, and I’m going to buy it anyway. Tracking your expenditures — even over just a one month period — will do wonders for the guilt you currently feel when spending money (the guilt will turn to anger when you see how much money is wasted on any given month).

83. So You Actually CAN Be Generous

Studies have shown that the average American thinks they are more generous then they are. How about you? Do you spend more time thinking about being generous than actually being generous? Setting up a financial plan will not automatically make you more generous, but it will definitely free up financial resources that could be applied here. Think about it.

82. Afford Extracurricular Activities

From soccer to baseball to football to cheerleading to gymnastics to piano to guitar to violin to karate to any other of the myriad of activities, finding the resources to actually pay for these niceties isn’t going to be easy unless you plan ahead.

81. So You’re Not This Guy

See what happens when you don’t have a plan? Did you notice when he gets up that his first words are, “Yeah, I’m OK,” like we all didn’t just see him completely land on his face!

As funny as this is, it’s a great example of how we treat our financial lives. Our money management might make us look like a fool, but we’re to prideful to admit it. We’re too busy telling people, “Yeah, I’m OK.”

80. You’re Probably Going To Live For A While

The estimated life expectancy for a man living in 2010 is 75.7 years old, while for women it’s 80.8. Chances are you could live even longer than that! Will your money be there with you? Are you counting on the bankrupt Social Security?

79. Don’t Know What You Don’t Have

Spending is often the culprit of many financial disasters. The problem is that most people have no checks and balance system that actually shows them what they spend their money on each month. Even with great, free online tracking software, people often perceive their income to be considerably higher than it actually is

78. Your Kids Are Watching

Whether you think they are or not, your kids are watching how you manage money. Would your kids be better off by copying your lead or doing the exact opposite?

77. Emergencies Happen

Financial emergencies not only happen, they happen often. While none of us like to plan for the worst, NOT planning at all is perhaps the greatest emergency of all. Many experts say you should have between 3 and 6 months of living expenses set aside to cover unexpected job loss, accidents, medical bills, and more.

The problem is that most people don’t even have enough to cover the rest of the month much less 3 to 6 months out. Setting up a financial plan will help you identify the areas in your budget where money can be allocated for this fund while helping you plan for other safety nets like adequate insurance. Don’t just think that financial emergencies need to be funded with your own out-of-pocket dollars.

76. You Won’t Get Ripped Off

Education = enlightenment. Many of the financial scams of 2011 are praying off the uneducated and inexperienced. Think you can really get 500% investing in penny stocks? Think you can search the internet for how to make money online and start making an income tonight? Reality doesn’t work that way, and financial planning gives you the firm footing you need.

75. Bye Bye (Financial) Stress

According to a recent poll from About.com, nearly 7 in 10 people say they are “very stressed” about money while only 1 in 10 say they are not. That’s a sobering reality and yet virtually no one talks about it – people keep it all within.

While the root of financial stress is not easily answered in a sentence, a good portion of the stress we go through is centered around the fact that we often manage our money like we are walking around in a pitch black room. Fumbling about, we expect at every step to run smack into a wall. Worse yet, many of us spend time fixating and worrying about things that never actually happen. If you are tired of the ups and downs in your own financial stress, start planning your financial future and don’t just hope.

74. Closes Your Budget Holes

Does your money usually run out before the end of the month? Do you find yourself asking, “Where did it all go?” Have you ever thought, “Next month it will be better…” Chances are your suffering from budget holeitis. Guess what the solution is?

73. Small Goals Become Big Accomplishments

It dosn’t have to just be financial matters – people everywhere get this wrong. Whether it’s the aspiring entrepreneur, a budding musician, or the hopeful day trader, we want the end result without putting in the time and effort to actually achieve the end result.

Finances are no different. Don’t just read this and think you have to do a complete 180 in your life. Start small. (1) Begin by tracking your expenses over a 30-day period. (2) Next month organize your debt from most costly to least. (3) Find your overpayment margin (discussed later) and use that money to start paying off your most costly debt first.

The financial game is a game of inches. If you can’t start small, you won’t achieve anything big.

72. Attract A Mate

Nothing screams, “Don’t Marry Me” more than someone who casually deals with money, debt, and financial obligations. Do you want to get married someday? Get your financial house in order. Anybody can spend. Few can spend wisely.

71. Manage Your Finances, Manage Your Life

Finances are not only something that affect every human being, they are directly related to every other aspect of your life. This is not to say that money in and of itself is most important – it most certainly is not – rather that wise money management will have a direct and positive impact on just about every other facet to your life. Want to focus on one area this year that can produce the most significant personal development? Start with your money.

70. Protect What You Have

In your quest to build up more financial resources, don’t forget to adequately protect the resources you currently have.

69. Eliminate Excess

Since spending is often the culprit to not building long-term wealth, eliminating excess from your budget is not just a nicety…it’s a necessity.

68. Charities Need You To

Not only is it wise for YOU to get your financial house in order — charities, non-profits, churches, and other organizations depend on the donations provided by those with the means to do so.

Why do most people ignore charity all-together? Most people say they can’t afford to be generous (an understandable response), when they really should consider this instead…

Generosity is not confined by fixed percentages or begrudging gifts. True generosity comes from first recognizing the personal blessings we all possess. If you are reading this article, chances are you too are blessed in ways not just tied to financial gain or abundance. Maybe you have financial means and maybe you don’t. Maybe you have a roof over your head, or food in your refrigerator, or a bed to lay down to at night when a good percentage of the world looks to those things as luxuries they can only dream about.

By organizing your financial world (no matter it’s size or scope), you’ll often see the grass is actually pretty green on your side. At a minimum you’ll have identified places in your budget where you could give, and that, my friends, is a start.

67. Empowerment

Money doesn’t buy happiness, and you can take that to the bank.

Being wise with your money however will empower you in ways you never could have imagined. Don’t let money dictate your mood, outlook, or personality. Take responsibility, and put money to work for you. It will do what you tell it, you just have to tell it to do something.

66. Connect With Your Significant Other

We’ve all heard the stats that “money” and “relationships” don’t mix, right? Well they must if you hope to get beyond your present financial circumstances.

Take this often taboo topic and use it as a means to connect with your spouse or significant other. Challenge each other to be honest AND encouraging about making this the year you stop reading about financial planning and actually start doing it!

65. Something To Talk About

Do you ever sit at dinner in complete silence? Why not throw finances into the mix. Sure it’s a bit boring at time, but think about it…this kind of talk is actually worth something.

64. Finagle Your Finances

No, we’re not talking about doing something dirty to your checkbook. This is about perspective. Properly analyzing your finances will spur on creativity like you’ve never imagined.

63. Taxes Won’t Scare You

Do you dread April 15th? Do you wait until the absolute last minute to do your taxes? Do you break out in cold sweats every time you get a letter from the IRS?

No more, we say! NO MORE!

While taxes will always hold a special place in our hearts, financial planning forces you to make sure that the money you DO have to pay in taxes is used to your maximum gain. There are tax incentives, credits, and rebates everywhere for those who take the time to make sure that every penny they pay is not a penny they could have kept.

62. You = Guru

Who doesn’t want to be a financial guru?

61. Build Wealth

We’ve said it before, and we’ll say it again: building wealth is not about how much money you save as much as it is how much money you DON’T spend. If you want to build long-term wealth, you’ll need to have a plan. Regretfully, money won’t just show up in your account when you turn 65.

60. No More Overspending

It is estimated that at least 10% of what people purchase could have (1) been purchased for cheaper or (2) they didn’t need in the first place. I think we all would agree this is on the low end of estimates.

Here’s a real-life example to prove the point.

Say you like to go to the movies… and get popcorn… and get M&Ms… and get something to drink. Before you know it, you’ve spent $30 or $40 when you could have done this instead.

Most movie theaters sell “collector” cups that you can buy for virtually the same price as a regular large drink except with THIS cup you can bring it back time and time again (usually for a calendar year) and get refills for cheap – usually a $1. If the average large drink costs $5 and you see 20 movies a year, you’ve just saved $80.

But what about the popcorn? Many theaters also sell tshirts that allow you to get free food if you just wear the shirt to the movie. Instead of paying $6 for popcorn every time you now get it for free. There’s another $120/year in savings (well, let’s say $100 since the shirt probably cost you $20 or so).

And the M&Ms? I’ve got two words for you: Wal Mart.

59. Prepare For Inflation

The best way to prepare for inflation is to make purchases now that you expect to need in the future. With the massive amount of liquidity being poured into our financial system, there is real concern that high inflation – perhaps even hyperinflation – will be knocking on our doors in the coming years.

Financial planning will force you to analyze your current spending as it relates to future consumption. If you fear that tomorrow’s dollar will be worth less than it is today, you now have options to consider before it is too late to do so.

58. Build Passive Income

Will you always work for money, or will money always work for you?

The flip side to minimizing what you spend is determining what to do with your savings. Building passive income should be a top priority for any financial undertaking. Whether it is dividends or residual commissions, make sure that a portion of your financial planning is devoted exclusively to passive income.

57. Conquer Your Financial Fears

Fear has a way of debilitating us to the point of inaction, and nothing could be more harmful to your financial future than doing nothing. Doctors, psychologists, and economists have debated for years as to why people are so fearful when it comes to money, and the answers have ranged from ignorance of the topic to bad childhood experiences.

While addressing your money fears will often include more than just a financial education, one thing we know for certain is that addressing future fears now is always better then reacting when they happen. In one scenario, you are the one in control. In the other, your situation is.

56. You Can’t Live At Home Forever

Even though so many college grads are doing this they’ve aptly been named the boomerang generation, one key reason you going to need a financial plan is because…well…you can’t live at home forever.

55. Learn To Be Frugal

Frugality, like most financial disciplines, is learned in the trenches. If you want to find the resources in your resources to start saving, investing, and building wealth — you must learn to be frugal.

And frugal doesn’t have to mean doing without. The root of frugal has to do with living without waste (a great piece of advice for those who say they can’t afford to save or invest).

54. Have Money To Invest

Once you start to live without waste (number 54) and stop overpaying (number 60), you’ll quickly start to find that you actually DO have money to invest.

Invest doesn’t necessarily have to do with the stock market either. Investing could be in starting your own business or furthering your education (so you have the increased earnings potential).

The most simple way to think about this is to ask yourself the following question, “Will I have the potential to be better off by investing my money in ________?”

Notice we haven’t gotten into the mindset for what constitutes a wise investment…at this point we’re just using our financial plan so we’ll have the option to chose.

53. No One Else Does

Here’s 1 tip you can follow that just about every time will make you look like a genius. Take a look at what the majority of people are doing and do the exact opposite. I don’t care if it’s finances, relationships, business, or sports. If you do what everyone else does, you’ll get the results that “everyone” gets (which is usually nothing).

As the venerable Dave Ramsey always says, “You need to live like no one else so one day you can live like no one else.”

52. Braces Are Expensive

Try $5,000 – $7,500 a pop! Since approximately 80% of U.S. teens wear braces — if you have kids — chances are you’ll be footing this bill at some point in the not too distant future.

51. Because No One Likes Credit Card Interest

According to CreditCards.com the average credit card debt per household with credit card debt is $15,788 with an average apr of 14.35%. Here’s how the math works out. That’s $188.80 per month or $2,266 per year in interest alone. This does not account for any principal reduction.

If you took that $2,266 per year and invested that same amount for 30 years and received a reasonable 8% return on your investment do you know how much it would be? $277,235.

With credit card debt you are just servicing your debt at $2,266 per year…you are not devoting one cent towards paying it down. Do you see why this is so deadly to your financial future? Thankfully there are several reasonable and doable solutions. Credit card debt is an epidemic that proper financial planning can cure.

50. Identify Bad Debt

As a general rule of thumb, bad debt consists of financing tied to consumable products. Credit cards are the poster child but bad debt also can include debt incurred to buy clothes, cars, vacations, and other personal items.

Bad debt is the nemesis to financial planning because it is often that very debt (and the mindset of the individual that got them into that debt) which keeps people from making the necessary spending changes.

If you want to make 2011 the year you say goodbye to bad debt, make sure it’s also the year you say hello to financial planning.

49. Identify Good Debt

Believe it or not there is such a thing as “good” debt. Unless you have $150,000+ sitting around to buy a house, chances are your sitting in an example of good debt right now. The line between good and bad debt falls around these two parameters (1) good debt is used to finance assets that should appreciate over time, and (2) the level of debt you do take out is kept to a conservative debt/income ratio.

Basically this means you can use debt as long as it’s a small part of your overall income (different based on varying factors) and if it’s used for buying appreciable assets.

48. So You Can Afford To Be Spontaneous

Have you ever sat around on a Sunday afternoon and thought, “Hey, we should go on a trip today…right now…let’s just go!” If you have, then your next thought is usually something like this, “Work…Bills…Debt…(sad face).”

Financial planning will not just help you better your future, it will provide you with some wiggle room for those times when you want (and now can afford) to do things off the cuff. What you’ll notice though is that with your newfound perspective on money — even if you have the resources to cover something spontaneous — that you’ll say, “Well, I cooooouuuuld  go on that trip, or I could put even more money away this month!”

Hmmmm…decisions, decisions.

47. You’re Not Getting Any Younger

Contrary to popular belief and cutting edge medical procedures, you are not getting any younger. (Sorry, Joan). Every day you pass on a financial plan is costing you more than the day before.

46. It’s About More Than Money

Yes, we’ve spent a lot of time talking about money, but perhaps one of the best reasons for why you need a financial plan is also one of the most simple: because life is about more than money.

45. Your Crystal Ball Is Broken

Did it ever really work?

44. Prior Planning Prevents Poor Performance

This was a phrase my high-school economics professor used to remind us of often (usually as he was passing out test scores). A retired colonel in the military, he was truly one of a kind. While the phrase can be used in just about every area of our lives, it so perfectly describes the absolute importance in mapping out your financial future.

Notice it doesn’t say, “Prior planning prevents emergencies,” or “Prior planning prevents unexpected events.” Nothing can do that. Instead it focuses on you, the subject. If YOU want to perform, then YOU must plan to do it.

43. Learn About Capital Markets

If planning for your own financial future doesn’t get you interested in the capital markets, then I don’t know what will. Understanding how our financial system and markets move is important for several reasons — not the least of which is so you can realize there is a LOT more going on than you will ever be able to control.

Just because you’ve planned for the unexpected doesn’t mean you’ll never be surprised by a financial cost or loss. Quite the contrary. You’ll quickly discover that choosing where to invest your hard-earned dollars is often the case of lesser evils. All reward comes with some type of risk.

From stocks to bonds and from options to treasuries, people who care about their financial future must be familiar with how the financial markets work.

42. Get Approved For Loans

People who take part in financial planning typically have higher credit, lower interest rates, and all-around better terms for financial products. If you are struggling to get approved for mortgage loans, auto loans, student loans, or even debt consolidation loans — try seeking a financial planner or using free online software to help get started.

Equally important, since financially planning almost always results in an improvement of your credit score, not only will you be able to get approved for loans — you’ll get better terms. Your credit score is often one of the key factors in determining the interest rate received for your debt.

Take buying a home for example: If you have a $250,000 mortgage at 7% interest you’ll be paying roughly $1663/month in principal and interest. If you take that same $250,000 mortgage and secure a 5% interest rate, your mortgage payment becomes $1342/month. Just by securing better terms on your loans (the result of proper planning), you would be saving over $300/month or $3600/year to live in the same house.

Are you starting to see a trend? You don’t need to be rich to do financial planning. Part of the secret to financial planning is discovering how to pay less for your current expenses so you DO have money to put towards savings, investing, and your future. I hope that makes sense because this is so often overlooked by those who say they can’t afford to do anything other than just get by.

41. Compound Interest

While there’s some discrepancy as to whether or not Albert Einstein did in fact call compound interest the most powerful force in the universe, he is quoted as saying it’s, “The greatest mathematical discovery of all time.”

Now remember…this is the guy who discovered the theory of general relativity, helped alert Eisenhower during WWII that the Germans might be developing an atomic weapon (and that the U.S. should start their own research – that research went on to become the Manhattan Project which ultimately went on to result in the U.S. being the first and only nuclear weaponized country during the war), as well as publishing some 300 scientific papers, receiving numerous honorary doctorates in science, philosophy, and medicine from both European and American Universities, a 1921 Nobel Prize, and all around referred to as the father of modern physics! If THIS guy says that compound is the greatest mathematical discovery of all time, then I think we might want to take note!

Notice he didn’t say, ‘Compound interest is the greatest mathematical discovery if you have a lot of money.’ It’s the principal that is so mind-blowing, and it’s a principal we should all work towards with our own financial plan. There is no doubt about it: the concept of money creating money is powerful, possible, and probable when you take the necessary steps.

40. Everyone Wants To Be A Financial Ninja

39. Identify Overpayments

In Your Money Ratios, Charles Farrell asserts that the average person overpays for current living expenses to the tune of 10-15%. He also included things people don’t need in that number, even though I think we could all agree that our wants would make that percentage significantly higher.

In any event, let’s just say that you are an above average financial wizard and you spend NOTHING on extra, superflous items. By identifying that 10-15% of your spending that could be done cheaper, you’ve just essentially given yourself a raise (without working more hours or taking on a second job)

• If you make $30,000/year that is $4,500/year in savings.
• If you make $50,000/year that is $7,500/year in savings.
• If you make $75,000/year that is $11,250/year in savings.
• And if you make $100,000/year that is $15,000/year in savings!

What could you do to plan for your financial future with an extra $4,500 – $15,000+ per year in your budget?!

38. Sets You Straight

Organizing your finances has a way of spilling over into other areas of your life. If you are looking for that catalyst to help set yourself financial footing on the straight and narrow, start with your money. It will tell you more about yourself than you probably wanted to know (but still need to know, nonetheless).

37. Get An Investment Property

Warren Buffet, arguably the greatest investor of all time, has a famous saying that can be summed up like this, ‘I like to buy when everyone else is scared and be scared when everyone else is buying.’

Can you think of any better example of what people are scared to buy right now than real estate? Have you dreamed about building up investment properties that can supplement or even fully replace your current income? If so, now may not only be a good time to buy, it is always a good time to start planning for the future.

While having an investment property doesn’t guarantee you a good investment, having the money to consider this option starts with your own financial plan.

36. Start The Path To Financial Freedom

This might seem rather obvious, but it’s often the obvious truths that we so easily overlook. So many people dream about being financially free, and yet they do absolutely nothing to ensure this dream becomes reality. It’s almost as if they expect to wake up some day and just BE financially free.

If only it worked that way.

Financial freedom is often the result of long years of planning, sacrificing, and setting short-term goals. Maybe you want to have more time with your kids, maybe you want to travel, maybe you just don’t want to have a typical job — all of these things are decisions you’ll be able to make because financial freedom…

35. Gives You Options

Options! Oh, what a glorious and equally terrifying word. While some of us may suffer from paralysis of analysis when faced with a decision, chances are good that every one of us likes to at least have the option to chose.

Nothing is more demoralizing and detrimental to financial planning than to feel you’re on a rat wheel from which you can’t escape (job, money, stress, etc). If you like the idea of having options for your financial future, you know what must be done.

34. Promotes Rationality

Rational thinking has a way of going out the window when times are really good or really bad (which kind of feels like ALL of life, doesn’t it — it’s constantly at one extreme or the other).

Do you really think with $15,000 in credit card debt (and no plan to pay it off) that you’ll be able to get out from underneath it much less change the mindset that got you there in the first place?

Do you really think that house prices will ONLY go up over time and that it doesn’t matter if you get a loan for 103% of the homes value because of this?

Do you really expect the stock market to consistently give you 8-10% year in and year out?

These are just examples of ways people start thinking with the “herd” mentality. Everyone else is doing it, and they seem to be getting by just fine so it must be OK to do, right?

WRONG!

Financial planning has a way of bringing you back to your rational center. The very nature of planning has to do with realistically looking at a situation to determine a reasonable outcome — and an outcome that is specific to you.

Yes, there is some great financial advice that everyone should follow (ehhem…LearnFinancialPlanning.com…ehhem), but if you leave with just one morsel of wisdom today, I hope it’s this: rational, honest self-assessment must be present for you to actually change your current behavior.

If you don’t think you can do it on your own (and that is perfectly fine) seek out professional assistance so you can have someone thinking rationally for you.

33. Retire How You Want

Earlier we discussed that financial planning can help you determine when you want to retire (Number 91), but it can also help you retire how you want. Do you want to spend $3,000/month on travel? Would you like to spend the winters someplace warm? Start with the end-game in mind, determine how much it will cost, work your way backwards, and then start working towards it today!

32. So You Can Learn How To Budget

Personal budget planning is perhaps one of the most painful (yet essential) skills any of us must learn to do when it comes to our finances even though just hearing the word “budget” can put chills up the spine.

Instead of thinking about budgeting like saying no to things you want now, try thinking about it like saying yes to bigger things you’ll want later.

31. Trim Your Taxes

Did you know that nearly 80% of people overpay on their taxes each year? And did you know that according to the US General Accounting Office approximately 50% of the people who use a professional tax service overpay their taxes to the tune of $1 Billion each year. And this is people seeking professional tax help!

If you are care about making sure the money you pay is what you actually owe (and not a penny more), financial planning can be a great way to make sure this happens.

30. Learn The Financial Lingo

From CDO to PPO and from CDS to MBS, trying to keep up with the latest 3-letter financial acronyms is a chore in and of itself. To help, check out this section on Investopedia’s site to learn all of the most common financial-related terms.

29. Honesty Is The Best Policy

Honestly assessing your current financial landscape is the necessary beginning to achieving your long-term financial goals.

28. How Else Will You Become A Millionaire?

Five Cent Nickel put together a great article titled How To Become A Millionaire which ties in perfectly with financial planning. Even though a million dollars isn’t what it used to be, a million dollars is still…well…a million dollars!

Would you like to learn how to plan your way to millionaire status? Here are the highlights they suggest as filtered by Warren Buffet’s approach to investing and money management:

1. Reinvest your profits
2. Be willing to be different
3. Never suck your thumb
4. Spell out the deal before you start
5. Watch small expenses
6. Limit what you borrow
7. Be persistent
8. Know when to quit
9. Asess the risks
10. Know what success really means

27. Automate Your Financial Decisions

How much time do you spend making money decisions? How would you like to streamline that process? Financial planning lets you do this.

By deciding ahead of time how or what you will spend your money on, you free yourself from the agonizing back and forth as to whether or not you “should” buy something in the moment.

Remember what my economics professor said, “Prior planning prevents poor performance!” (Number 42).

26. Learn Something New

Sure there are LOTS of things you can take the time to learn. From languages to cooking to specialized sports and more — the choices you have before you are literally endless.

But how many of those things can have a direct affect on your bottom line?

25. Be A Sugar Daddy (or Mommy)

Who says you can’t have a little fun with your financial planning?

24. Afford Vacations

The phrase “I need a vacation” is probably something each and everyone of us has said at one point (or twenty) throughout our lives. If your tired of going on trips you can’t afford with money you don’t have while incurring debt you don’t need, (in your best Al Pacino from Scarface voice) say hello to my little financial planning friend!

Vacations are nice! Getting out of debt (and then being able to afford your vacation) is even nicer!

23. Buy Stuff For Others

We’v spent a lot of time talking about all the things WE can do with our newfound resources, but what about other people? If you like the idea of doing more for others, and if you realize that so much of a fulfilled life is ABOUT doing things for others, this reason alone should prompt you to start planning your financial future today.

22. You’ll Have More Time

While it won’t add more hours to your day, financial planning is like that automatic virus scan running faithfully on your computer. It runs in the background and alerts you to problems as they arise.

Instead of having to manually decide every time a new financial choice is presented, your plan kicks in with the answer. If you’ve set aside $100/month for going out to eat and you’ve spent all $100 and someone asks you out – you know the answer.

The key here is to 1) setup your plan and 2) actually follow through with it. When you do this, you’ll invariably have more time to spend on the things you chose.

21. Buy That Vacation Home Someday

Do you want to own a second home someday? Is there a place you can imagine living for a few months out of the year? Financial planning will help you get there.

20. Plan For The Future

The whole point of financial planning, right?

19. Pursue Your Passions

Have you ever heard that question, “If money was not an object, what would you do with your time?”

Well…what would you do?

Financial obligations take up such a big part of our daily life that it is hard to imagine what it would be like to NOT have to work for money any more. Where would you spend your time if finances were no longer the focal point of your life? What passions do you have that currently take a back seat to your need for an income?

18. So You Can Dream Big

Dreams have a way of pushing us forward even when the present circumstances seem grim. It’s the hope that our future will be better than our present that drives us onward.

How often, though, when you stop to reflect on this do you realize that you are almost always in a mindset of “Tomorrow it will be better,” even though tomorrow never seems to arrive?

Here’s a simple way to self-assess yourself:

First you must stop and realize that there is nothing you can do about the past. It’s over. It’s done with, and you are simply wasting time and precious resources by dwelling on it.

Second, you must realize that you live in the here and now. Are you living life now or are you hung up on things in your past (or your future which is still unknown)?

Finally, how do you really see your tomorrow? Not the Halmark version of your future — but how do you actually see yourself in the future? Have you ever even considered it?

17. Avoid Bankruptcy

Non-business bankruptcy filings totaled 1,538,033, up 14.4 percent from the 1,344,095 non-business bankruptcy filings in September 2009. That’s a sobering reality. Every day some 4,213 individuals and non-business organizations enter into this most devastating of financial realities.

Not only does bankruptcy stay on your credit for 7-10 years, it has long-lasting effects on how you can access capital and debt for years thereafter.

Admittedly, some peoples’ bankruptcy is the result of their own making — and they have no one to blame but themselves, but what about the group of people who either through no fault of their own (medical bills trigger some 60% of bankruptcies) are dealing with this new prospect?

First, let’s briefly look at some ways people can avoid bankruptcy in 2011.

“You may be able to avoid bankruptcy if you sell some assets, cut back on your budget, make a deal with your creditors, and borrow money from family and friends,” says Laytoya Irby the Credit/Debit Guide at About.com.

But what do you think is the absolute best course of action you can take to avoid bankruptcy entirely?

FINANCIAL PLANNING!

A big component of modern financial planning is evaluating not only the resources you have and how to manage them, it also encompasses reviewing your risk profile to determine things like adequate insurance so you are not dependent upon your own “nest egg” should a financial or medical emergency arise.

16. Further Your Education

Education, as we shared above, is only getting more expensive (Number 97). Do you have a desire to go back and further your education at some point in the future? Have you thought about how you will pay for it, or are you just expecting the money to show up someday?

While there are numerous government grants and financial aid resources for those who return to the classroom late in life (and many employers will pay for part, sometimes all of your schooling if you work for them during the time), this is yet another reason why organizing your limited resources to their maximum potential is an absolute necessity.

15. Organize Your Financial World

Again, this seems so simple on the surface, but people miss it time and time again. The ONLY way you will ever build wealth and safeguard yourself from emergencies is if you have a plan (or win the lottery, but I like my odds with a plan better).

Organizing your financial world is like stretching before a good workout. Few people like to do it, but the preparation is critical. Relaxed muscles and tendons are now more conditioned to actually do the work set before them.

It’s the same with your finances. By honestly and accurately assessing your financial world, you will condition your mind to be ready for the work before you. It’s not easy…but then again, nothing that is worth doing ever is.

14. Find Risk-Free Income

Did you know you could get 1000% or more return for your current cash savings with absolutely no risk? The average bank account pays somewhere around .08 – .15% interest on your savings whereas several leading online banks (many from household names you are probably familiar with – see below) pay at least 1% and higher.

If you have $5,000 in savings that’s a difference of $45/year. If you have $50,000 that’s a difference of $450/year!

So where does the “no risk” come in? Make sure the online savings accounts are FDIC insured. This ensures that your savings, currently up to $250,000, are guaranteed by the U.S. Government. When you’re done reading, review our recommended online savings accounts at the top right of this page.

13. You’re Out Of Teeth

If only we had a few more teeth to stick under our pillows!

12. So You Can Travel The World

On average, it costs about $3,000/month per person to travel the world in a year. If you are a 5-star all the way kind of guy or gal, that number could be higher.

11. You Only Get One Shot

“I expect to pass through life but once. If therefore, there be any kindness I can show, or any good thing I can do to any fellow being, let me do it now, and not defer or neglect it, as I shall not pass this way again.”

-William Penn

10. Because Money Should Work For You

Does the idea of putting money to work for you seem like a totally foreign concept? Can you imagine the day where…instead of getting up to go work for money…money instead works 24 hours a day, 7 days a week for you?

If you can not, then let me encourage you to change your thinking!

The ultimate goal of financial planning is to set in place the checks and balances necessary to move you from working for money to making your money work for you.

Take the tidy sum of $1,000,000 for instance. Assuming a measly 6% return per year, you are looking at $60,000 in income (before taxes) without touching a penny of your principal.

A million dollars may seem like a lot of money given your current financial outlook, but saving and investing your way to this sum is extremely doable. Putting money to work for you is the ultimate goal of financial planning, and if you aren’t thinking in those terms…start today!

9. A Good Offense Is The Best Defense

Translated: Take control of your money’s future instead of expecting the future to take care of your money. Do you see the difference?

8. So You Can Buy A Home

Gone are the days of No-Doc, Stated Income, or Negative Amortization loans (thank goodness). In today’s financial world, you actually must have some skin in the game (gasp) before the banks will lend you money for a home.

While the number can vary, a good rule of thumb is a 10% down payment for first-time homeowners and 20% for existing homeowners. With the median U.S. home price – the point at which exactly half of homes are sold for more and the other half sold for less – standing at $185,475…chances are you are going to have to plan your way to saving that $18,500 – $37,000 necessary to secure a loan.

7. Time Marches On

6. Future Generations

Did you know that a one-time $100,000 nest-egg today would be equal to $4.69 million dollars in just 50 years assuming an 8% annual return. In 100 years that same $100,000 would be worth $220 million!

5. You Want Something More

If you want more out of your financial world than just the status quo, starting down the road to financial planning will be one of the most rewarding decisions of your life.

Yes it will be hard (at times). And yes it would be “easier” to do nothing (although you are just creating a ticking time bomb for yourself) — but like anything in life that is worth doing — it will involve sacrificing now for the hope of what is to come!

4. You’re Not Warren Buffet

Buffett didn’t get to be the world’s richest man because he followed the crowd, nor would he advise those who wish to follow in his footsteps to pursue conventional wisdom.

True wealth is about understanding the choices before you, calculating the risks, and then making a decision. Every single one of us operates with limited resources, limited knowledge, fears, anxieties, reasons why we shouldn’t do it, and more — even Warren Buffett.

The size of your savings account doesn’t change that fact, and it shouldn’t keep you making the tough financial decisions we all have to make.

3. Find A New Career Path

You might like managing your own money so well that you wouldn’t mind getting paid to do it for others. A financial planner salary can produce anywhere between $45,000 – $85,000+ per year.

2. If You Always Do What You’ve Always Done

…then you’ll always get what you’ve always got! Are your money habits producing the kind of outcome you were hoping for?

As our good friend Albert Einstein said, “Insanity [is] doing the same thing over and over again and expecting different results.”

1. Be Ready For Anything

So here we are…the Number 1 reason that YOU need financial planning is so that you can be ready for anything. Life has a way of happening whether we are ready for it or not, and if you want to be prepared for the financial curve balls that are sure to come your way, make today the day you plan.

Be sure to read our original Financial Planning 101 series below.

• What is Financial Planning
• Financial Happiness
• The Case for Financial Freedom
• What is Financial Security?
• Realistic Financial Planning
• Financial Tips
• How to Write a Financial Plan

1. Formulating A Budget: It is essential for you to keep a record of your spending. You are to record each and every small expenditure that you make. For this you are to make a budget for yourself. This should include all your expenses and should also have your total income. Subtract the total income from the total expenditure and you will get the amount that you have left to repay your debts. This amount must be allocated between your different debts. A budget also helps you understand how much you are spending and where you are spending it. Thus, you have a clear picture of your finances and you are able to control yourself from spending. You also realize which sectors you should cut down on.

2. Paying More Than The Minimum: If you want debt elimination to be quick, then an important technique to ensure that is to pay more than the minimum amount each month. You must pay the minimum payments for all your debts, however in case of one debt (maybe the one with the highest interest rate) you should pay more than the minimum amount. Try to pay as much as you can towards this debt so that it gets reduced as quickly as possible. After you get rid of the highest interest rate debt you will have more money to pay towards the rest of the debts. You must then pay more towards the debt that has the next highest rate of interest and keep following this until you have eliminated all your debts.

3. Earn More Than You Spend: When you are in debt it is a sin to spend more than what you earn. This is because if you spend more than what you earn you will sink further into debt. Thus, you must spend less. In some circumstances you may be unable to curtail your spending, so you would need to earn more. This means that you will need to look for alternative means of earning money: a second job or investments can be a possible option in order to earn extra money so that you can eliminate debts.

4. Paying Off Debts Instead Of Saving: You should pay off your debts first rather than save money at low rates of interest. This is because you may be paying much higher rates of interest on your debts than you are earning while saving. Therefore, try and cash out on your savings and pay off all your debts. After you finish paying off all your debts you can then proceed towards saving again.

5. Figure Out How Much You Owe: You must find out precisely how much you owe and who you owe it to. Getting a clear picture of the total debt scenario is very important so that you understand where you stand. When you see the total amount that you owe, it may also propel you towards staying focused on debt elimination.

6. Starting To Pay It Off: Take the list of debts that you made and start to pay it as soon as possible. You should allot your available money to all your different debts (it’s a good idea to prioritize your debts).

These are a just a few tips that you can consider in order to eliminate your debts and stay out of them in the future.

To be honest, to understand the loans, you’ll need to talk to a debt expert. Debt Consolidation Care is a debt community that will send you more information after you fill out the form below. Finish the form below, read the rest of this article, and you’ll be in good shape:

Debt consolidation loans are one of the more controversial arenas in the realm of financial planning. Some financial advisors hate debt consolidation, and other advisors love them.

In this article we’ll break down the pros-and-cons of such a loan, and consider whether or not it’s actually a good idea.

At the end of the article there are some links that can help you continue researching debt consolidation loans. But first, some definitions.

What is a Debt Consolidation Loan

A debt consolidation loan is a loan that you are given in order to “consolidate” your other loans. For example, let’s say you have 5 small loans. A debt consolidation loan is where you take one big loan and pay the small loans off — thereby consolidating them.

A debt consolidation does NOT reduce your debt directly. It consolidates your debt. I’m still a fan of the loans because I think it should be a given that re-organizing your financial situation makes it much easier to achieve your goals.

If you’re going to get rid of items in your closet, you should probably reorganize and clean it first — same thing goes for debt and debt consolidation loans. Let’s talk about the disadvantages and then the advantages of getting a debt consolidation.

The Disadvantages of a Debt Consolidation Loan

Before we cover the advantages of a debt consolidation loan, let’s look at some of the disadvantages first:

• Isn’t Doing Anything. As I explained above, some financial gurus, like Dave Ramsey, are against debt consolidation loans because they think they achieve nothing except organization.

• It Takes Longer. Some debt consolidations are where you agree to pay less money, but over a longer period of time. This, of course, depends on the debt consolidation loan itself — each one can be different.

If you have any more concerns about a consolidation, feel free to list them in the comments for other readers. Any personal experiences or even professional advice would be appreciated.

The Advantages of a Debt Consolidation Loan

Now let’s check out some of the advantages of a debt consolidation loan.

• Lower Interest Rate. A debt consolidation can give you an overall lower interest rate. This means you’ll be paying “less” for your past loans, while still making it easier to pay the loans at all.

• Fixed Interest Rate. Getting a fixed interest rate is essential for a secure financial plan. A changing interest rate makes your future less predictable. You can “trade” your changing interest rates for a fixed interest rate.

• Easy Organization. Having 10 loans and debts to repay and keep up with can be hectic — leading to accidental mixed payments, or just unnecessary discomfort. Getting a debt consolidation loan ends all of this.

How to Get Out of Debt Automatically

The fundamental way to actually use a debt consolidation loan to get out of debt is to understand what it is and isn’t doing. It is making it possible for you to automatically get out of debt. Here’s how:

• Get a Debt Consolidation Loan.

• Get an Online Bank Account.

• Get an Automatic Savings Account.

You can automatically pay off the debt with a few clicks of your mouse. As I explain in the last “step” above, you can set your online savings account to put money aside automatically. You can also have that money automatically sent to someone else — like to pay off your debt.

By consolidating your debt, and making the payments automatic, you can pay your debts off automatically. Just set up the automatic payments, and pretend like your make just a little less money. You’ll be on your way to getting out of debt in a well-organized and efficient manner.

You can do this if you have a debt consolidation because you’ll only have to send money to one company rather than several — streamline your finances, and your finances will take care of themselves.

Debt Consolidation Loans in 2011

The key with loans for debt consolidation in 2011 is to do your homework. You must understand all of the pros and cons for each side for and against this technique. Just because a financial guru tells you they are right or wrong does not mean you should base your opinion just because they say so. Situations are unique, and you are responsible for your own decisions. Be empowered and be encouraged. After all – getting out of debt is always harder to do then getting into it – but it is possible.

Conclusion and Last Thoughts

Debt consolidation loans are thought by some to not make a huge change in one’s financial situation. I think that’s a bit wrong, because a consolidation allows one to be more organized and allows one to have a “big target” to hit, making the debt free journey easier.

A debt consolidation loan even allows you to set up your finances and banking to pay off your debt automatically — if that’s not a good financial decision, I don’t know what is.

The internet has completely changed all that. Now with just a few clicks of the mouse you can instantly and quickly review savings rates from numerous companies at once. As a matter of fact, you can instantly view the best savings account rates for 2011 here.

How Savings Account Interest Rates Are Calculated

Have you ever wondered how the interest rates on your savings account are calculated? Why would some company be willing to take your money and offer to give you MORE money just for keeping it with them?

While the complete answer to that is far to comprehensive for this article, the foundations are important to know for anyone looking to open a savings account.

Savings rates are set based on two key factors: (1) The cost that financial company carries to manage customers’ money and (2) The risk/reward balance of leveraging that money (lending it out to others).

Since banks and financial companies are in the business to make money, the savings rates they provide are not simply pie in the sky projections, rather the result of extensive research and analysis of all the input variables that ultimately produce their stated savings account rate. These things include:

• Federal Regulations – By law, financial companies have to keep a % of their deposits available at all times. This keeps the financial system “liquid” so that people are able to access their money when and how they need it.
• Risk/Reward Analysis – Once their required reserve ration is met, banks now must look for ways to use your money in a way that produces a positive return for them. In short, they want to make money with your money. Take lending for example. They must weigh the potential borrower’s likelihood to pay the money back (why your credit score is so important) against all other options they have to use your money (treasuries, equities, bonds, etc). Banks never take all their reserves and just throw it all in one basket. They must diversify their deposit base so as to minimize their overall portfolio risk.
• Opportunity Cost – Perhaps most importantly, banks have to weigh the savings rate they provide against the cost they would incur should they do something else with it. Think of it this way. If a bank is required to keep 10% of deposits on hand at any given time, then 90% of your money can be invested in things like government treasuries, bonds, equities, or other structured investments. Take treasuries for example: If the government is willing to give your bank 3% to buy U.S. Treasuries, and your bank is only paying you 1% in interest, then the bank is net-net ahead. Keep in mind that we are somewhat simplifying the process even though this will give you a good idea of how savings account rates are ultimately set.

The Best Savings Account Rates

Now that you know a little more about savings account rates and how they are calculated, check out the best savings account rates.

Updated daily, these companies have consistently provided some of the best savings account rates for 2011. Take a few seconds to browse the offers from each of these top rated companies. Setting up your very own savings account takes just a few minutes and can be done completely online.

Similarily, the term High Interest and Savings Account are typically put together to evoke a sense of, “Yes, I would rather have more interest for my savings account then less.” Who wouldn’t?

The trick with these types of savings accounts is to know what to look for — and what to look out for — when making this important financial decision.

When choosing a high interest savings account, here are the most important points you should consider:

1. Minimum Deposit - If you have $100 bucks to your name, most “high interest” savings accounts will be out of the question for you. Typically, the minimum deposit is around $1500. Some even require $10,000 or $25,000+ to start. We did find a two reputable companies that have no minimum balance.
2. The REAL Interest Rate – To entice you, many companies will offer a short term interest rate that is considerably higher than the actual interest rate you will receive in the long run for your savings account. This is all well and good, just make sure you take the correct weighted average of what your true rate will be since a 2.1% rate sounds good until you realize that it’s only good for 60 days at which time your rate drops down to 1.1% (you’d be better off in the long run with a fixed rate at around 1.3% or higher).
3. The Hidden Terms – Like any financial product, make sure you read the fine print once, twice, and then twice more. The reason most people setup a online savings account is because they want the convenience of online with the best rates to boot. Companies that JUST tout a high rate and low minimum requirements can often have some of the strictest limitations on withdrawals, transferring money out, etc.

If you are interested in finding the best high interest savings accounts in 2011, be sure to check out our pre-screened, recommended companies. It’s updated daily allowing you to find the top deals for your own high interest savings account.

Well in the last month I’ve released Stand Strong Research, a new website about everything finance. Subscribe to the site and you’ll learn basic economics, basic finance, intermediate investing, and tips about financial strategy.

The website isn’t just a financial advice site — it also includes breaking news that most news agencies are ignoring. You’ll see inflation before it hits, as well as oil and natural gas prices, the recovery, and everything else related to money.

Check out the site, and especially read this article: How Professional Gamblers Have Taken Over Wall Street.

After you finish that, read our ways to invest your money article. Let me know what you think about the website as a whole. Don’t forget to read the news about the world-famous American economist who is calling for the collapse of the US dollar… it’s insane.

People have watched the price of gold and silver skyrocket recently. They want to take part in this profitable market. Precious metals keep their value: for example between 1971 and 1980, gold rose 2400%. Investors, countries and banks are flocking to obtain and store physical precious metals causing prices to rise. Individual investors may follow the advice of EuroPac Precious Metals, a Peter Schiff gold companyhelping people maximize the profits this market offers. This company recommends buying gold coins or bars in 1 ounce, 10 ounces or 1 kilo sizes and silver in 1 ounce coins or 10 or 100 ounce bars. These are affordable, easy to buy and easy to liquidate.

Investors are aware the currency of different countries does not have the same buying power it did two, five or ten years ago. Some denominations are worthless today. People do not trust the governments to stay strong and economically profitable in this global crisis. Gold and silver are easy to transport and store. Their values do not depend on any bank or government; the values are determined by the world market for precious metals.

People are tired of losing money. During recessions or depressions stock in recreational vehicles, luxury items and unnecessary things devalue. If the company goes into bankruptcy or out of business, the stock is worthless. Federal interest rates are near 0%; interest currently being paid on certificates of deposit and savings accounts are below interest rates offered in 1983; the cost of living is not at the 1983 level.  Gold and silver coins and bullion will always have value and can always be exchanged for something. Investors are tired of taking a beating on their money and want safety.

The way people protect themselves is by purchasing physical precious metals and taking delivery of them or having them stored in a safe and secure depository. Some people invest in paper-based products like numismatic gold and silver coins; these are coins with a higher value than their actual gold or silver content based on their collectibility and condition. Other people invest in mining stock, mutual funds, futures contracts and options on gold and silver. These investments may offer a higher return potential but come with a higher risk. The investor may be left with a product that cannot be liquidated or no value at all.

Physical precious metals are a safe haven for investors, banks and governments in uncertain times; this is driving up the value of gold and silver. Investors want to participate in the profits and protect themselves from government decisions, stock market crashes and nonexistent interest income from CDs and savings accounts.

How to make money online is a search term that is getting bigger and bigger every day. The truth is, there is millions that can be made online. Thousands monthly. Hundreds daily. The internet is so powerful that as we speak, there are people out there who are making massive sums of money online. You get work work from home, there’s no need to work 9 till 5, there’s no boss etc. Imagine making money on complete autopilot? You get up and realize you’ve been making money even when sleeping. It’s possible!

Have you heard of Autopilot Website System? It’s a great money making site. It’s getting bigger worldwide. On the home page, you’ll be give a free system. This system is great for any newbies online. It’s about using ads to make money. You can make up to $9,000 a month with this free system. Worth a try. The free system is to give you enough money in order to purchase the paid Autopilot Website System. One of the greatest money making systems around on the net today.

This system has it all. It’ll show you exactly how to become a successful internet marketer and make money everyday on complete autopilot. You’ll make a site, get a payment processor and do very effective email marketing. You’ll be told exactly what to put on your site. It’s not Google Adsense! It’s a complete new concept which works amazing and will make some very serious amounts of money online. The whole process will run on autopilot, so you just need to purchase, set up and then you’ll earn! It don’t get any simple than that.

You’ll also be given unlimited full help & support to help you daily aswell. If you’ve got any questions, you just email them and you’ll always receive a reply ASAP. So, if you are looking to make money online and succeed straight away, this system is the way forward. It’s making people alot of money. One lady claimed to have finally broke the world of making money online after purchasing. It really is a great, simple system which tells you everything step by step.

This system will show you what all the top internet marketers do which enables them to make thousands into their bank accounts daily. You’ll be told honestly, exactly how to make money online. Grab it now and start making all the money you want to make online. It’s all possible with the correct system.