Bad credit can prevent you from getting a job, financing your education and even buying a home. That is why building good credit as early as possible is so important. Beginning with your first credit card, your credit history is part of everything you do that involves credit. If you want to maintain and build a good credit history, using the credit in a responsible way is a must. [Read more…]
Are You a First-time Landlord? Here are 5 Important Things to Know
Many people dream of becoming a landlord. Putting a property up for rent can be a highly profitable venture for property investors. However, being a landlord can be challenging. [Read more…]
Turning Your Dreams Into Reality – How to Determine Your Goals
Part 1 of a 3-Part Series on Goal Setting
How are you doing on your New Year’s resolutions?
If you are like most people, then you may have already abandoned your resolutions or simply forgotten about them.
Ways you can make your home look expensive without spending a lot of money.
Don’t be duped by a Nigerian prince. You can materialize your dream home with or without the money. A little research and innovativeness are all it takes. [Read more…]
Turning Your Dreams Into Reality – Setting SMART Goals
Part 2 of a 3-Part Series on Goal Setting
At the end of July, my husband and I decided that we wanted to get out of debt. We had made the commitment, and we knew we needed a plan. But before figuring out the plan, we needed to get clear about our goals.
[Read more…]
Turning Your Dreams Into Reality – Planning For Success
Part 3 of a 3-Part Series on Goal Setting. If you have followed the first two posts in our Goal Setting Series, you have identified one or two areas of your life where change is needed, you have clarified those goals by writing them down and making them SMART, and you have also detailed the reasons why those goals are important to you.
Why Did No One Tell Us Adulting Was This Hard?
I feel like I’ve heard just about every single one of my millennial-aged friends say this at some point in our lives. “Why didn’t anyone tell me” (fill in the blank here). My thoughts about this are generally two things:
- My parents totally prepared me for how hard adulting was going to be.
- Suck it up, buttercup.
At the same time, there have been moments in my adult life I have been totally ill-prepared for, especially when it comes to finances. For me, it wasn’t that no one told me adulting was this hard, but no one really taught me how to manage being one.
So, Why Didn’t Anyone Tell Us?
Chances are, they did. What they didn’t prepare you for was the specific life crisis you’re going through right now. After all, your parents and mentors can only prep you for what they have been through, for what they know. No one goes through life having the same exact experience as the next person.
That being said, when it comes to “adulting” and why you weren’t prepared, you should also realize the environment we’ve been living in is vastly different from that of our parents. It is even different from the generations just a few years younger than us. A lot of the advice and tips your grandparents and parents bestowed on you is no longer relevant in many ways, especially when it comes to your finances.
It doesn’t make their advice or what they have to say less valuable. Many of the same things apply in today’s world, but you’ll need to alter it to fit your needs. Remember, doing what is best for you comes first and foremost – no matter what mom and dad always said you should do.
Taking Care of Yourself in the Way You Need
When it comes to your finances, your health, your home, your family, and just adulting, doing what is best for you is always the right decision. Keep your blinders on, try not to pay attention to what other people are doing, and perform what works for you instead of looking to others for direction. There is no “one size fits all” to anything – finance, life, or pants.
Lastly, don’t ask that annoying question “Why didn’t anyone tell me adulting was going to be so hard?” Life has its difficult moments, it always will. How you adapt, push through, and persevere is what counts.
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Valentine’s Day: Money and Marriage Reflection
My husband and I haven’t ever really celebrated Valentine’s Day in the past. Early on in our relationship, our finances were an absolute mess and we were homeless together. While that’s thankfully no longer the case, we’ve always looked at it for what it was: a retail holiday. However, with our little one becoming more aware of holidays and other things, this year was a bit different. Honestly, this Valentine’s Day was great for our family and fantastic for our marriage.
Why We Didn’t Do Valentine’s Day
In the past, as I mentioned above, Valentine’s Day was typically a day that came and went without any fuss. Of course, we’d both say “Happy Valentine’s Day,” give the other one a kiss and go about our days. That’s not any different from any other day throughout the year though.
Our reasons for this varied. We had a lot of past relationship trauma from previous partners that made the holiday hard to enjoy. Not to mention, there were several years when celebrating some in-between holiday was not possible. We were broke and there was no room in the budget for any of it.
On top of that, Valentine’s Day always felt like a big deal for nothing. I’m not something who wants to be showered in flowers or candy – neither is he. We both enjoy more practical gifts and don’t like to buy into retail holidays (unless we are cashing in on the sales afterwards).
This year was a little bit different though, all thanks to my husband.
How We Celebrated This Year
The past couple of weeks have been tremendously stressful in our household. My husband and I are both working on multiple projects at our jobs. Our little one is cutting more teeth and, to top it off, our dog got very sick. After a few months of health issues myself, everything piling up made the world feel like it was on fire.
Being the man he is, my husband knew how to turn that around, at least a little bit. He snuck out of the house during the day, grabbed me some roses and grabbed our daughter a small present. We both got little Reese’s candies. Then, he revealed he’d planned to order dinner in so that I didn’t have to stress over dinner after a busy workday.
In truth, it was absolutely perfect. It was a nice pick-me-up from the weeks and months of stress piling up. Even more than that, the gesture brought a spark back into our marriage that I hadn’t realized fizzled to begin with.
All of this to say, if you’re against V-Day, I understand. But don’t let a single day go by without telling your spouse you love them or making some small gesture to brighten their days. Don’t go way out of your budget or do anything crazy, but the smallest things can make a huge difference.
We’re people that celebrate Valentine’s Day now. What about you? Do you celebrate?
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14 Careers You Can Pursue With A Degree in Finance
14 Careers You Can Pursue With a Degree in Finance.
The financial sector is typically a great choice for graduates who are looking to get a job in their chosen field straight after college. There are plenty of roles to choose from, from working in a local business to working in a high-pressure environment as an investment professional. Some students also choose to specialize further after college, for example taking additional courses to become a certified accountant.
There’s no right or wrong path to take after college, and you may well change your role throughout your career. The days of sticking to one job for your whole working life are long gone, with modern employees changing things up when they want a new challenge. So what could you future hold with a finance degree? Let’s take a look.
Financial Analyst
A financial analyst is a key part of any large business. Their role is to gather data, analyze it, generate forecasts and create financial models, and present that information to the people who need it. They also adjust budgets to reflect this new data, after discussion with stakeholders. Financial analysis allows a company to identify any risks, as well as potential opportunities for growth.
This role would suit someone who thrives in a high-pressure environment, and isn’t afraid of presenting their findings and defending them in front of senior management. If you love a challenge, want each day to be different, and are interested in working in a corporate environment, this could be a good fit for you.
Environmental Accountant
Worried about climate change, but don’t know how to make a difference? Good news – you could consider becoming an environmental accountant. These finance professionals use their reporting and modeling skills to calculate the environmental cost of business activities, with the aim of identifying ways to reduce the most harmful culprits.
It can be hard to understand exactly what impact a business is having when all the information is reported collectively as one carbon footprint figure. Environmental accounting breaks this down, allowing companies to have clear information so they can make informed decisions about their products and services. It’s a great way to use the skills you’ve learnt on your course and put them into practice for the greater good.
Sales Management
If you get a buzz out of talking to people, then a sales role might be a good choice – it’s far more social than many financial jobs, which involve crunching numbers in an office. As a manager, you’ll also be in charge of monitoring, supporting and motivating a team of people, which can be incredibly rewarding. You may even be able to travel in this role, attending conferences and visiting clients, depending on the sector.
Your finance degree will stand you in good stead when it comes to understanding forecasts, setting targets and looking at the data to identify potential market opportunities. Some companies will offer graduate schemes that get you straight into higher level roles, so look out for these if you want to have higher earnings straight out of college.
Risk Manager
Risk managers play a critical role in identifying, assessing, and mitigating risks that could impact an organization’s financial stability and reputation. With a finance degree, you can pursue a career as a risk manager in banks, insurance companies, investment firms, corporations, or government agencies. Risk managers assess potential risks associated with financial transactions, operations, market fluctuations, regulatory changes, cybersecurity threats, and other factors. They develop risk management strategies and policies to minimize exposure to risks, protect assets, and ensure compliance with regulations and industry standards.
Risk managers also implement risk mitigation measures, such as hedging, diversification, insurance, and contingency planning, to safeguard the organization’s financial interests. Additionally, they monitor and analyze risk metrics, conduct risk assessments and stress tests, and provide recommendations to senior management or board of directors to support decision-making processes. A career as a risk manager requires strong analytical skills, problem-solving abilities, and the ability to anticipate and respond to emerging risks in a dynamic business environment.
Investment Banker
Investment bankers are financial professionals who facilitate complex financial transactions for corporations, governments, and other institutions. With a finance degree, you can pursue a career as an investment banker in investment banks, financial advisory firms, or corporate finance departments. Investment bankers advise clients on various financial matters, including mergers and acquisitions, capital raising, restructuring, and strategic planning. They help companies evaluate potential merger or acquisition targets, structure deals, negotiate terms, and raise capital through debt or equity offerings.
Investment bankers also conduct financial due diligence, assess valuation metrics, and prepare financial models and presentations for clients. Moreover, they maintain relationships with clients, industry professionals, and investors to identify potential business opportunities. A career as an investment banker requires strong analytical skills, attention to detail, and the ability to thrive in a fast-paced and competitive environment.
Financial Planner
Financial planners help individuals and families manage their finances and achieve their financial goals. With a finance degree, you can pursue a career as a financial planner in financial planning firms, investment advisory firms, or wealth management departments. Financial planners work closely with clients to understand their financial objectives, assess their current financial situation, and develop personalized financial plans. They provide advice on various aspects of financial planning, including budgeting, saving, investing, retirement planning, tax planning, estate planning, and risk management.
Financial planners also recommend appropriate investment strategies, insurance products, and retirement accounts based on clients’ risk tolerance, time horizon, and financial goals. Additionally, they monitor clients’ financial progress, review and adjust financial plans as needed, and educate clients on financial matters and investment options. A career as a financial planner offers the opportunity to make a positive impact on clients’ financial well-being and help them achieve financial security and independence.
Accountant
Accountants play a crucial role in helping businesses and individuals manage their financial records, comply with tax laws and regulations, and make informed business decisions. They prepare and examine financial statements, such as balance sheets, income statements, and cash flow statements, to ensure accuracy and compliance with accounting principles and regulations.
Accountants also maintain financial records, reconcile accounts, and prepare financial reports for internal and external stakeholders. They may specialize in areas such as auditing, tax preparation, forensic accounting, managerial accounting, or financial analysis, depending on their career goals and interests.
Loan Officer
Loan officers play a crucial role in facilitating loans for individuals and businesses. They evaluate loan applications, assess borrowers’ creditworthiness, and determine the appropriate loan products and terms based on their financial situation and credit history. Loan officers also help clients understand the loan application process, gather required documentation, and navigate the complexities of lending regulations. They work closely with underwriters, processors, and other professionals to ensure the timely processing and approval of loan applications.
Additionally, loan officers build and maintain relationships with clients, real estate agents, and other referral sources to generate new business opportunities and promote loan products and services. A career as a loan officer requires strong communication skills, attention to detail, and the ability to work effectively in a fast-paced and customer-focused environment.
Insurance Underwriter
Insurance underwriters assess the risk of insuring individuals and businesses and determine the appropriate coverage and premium rates based on their risk profile. They evaluate insurance applications, review medical records, financial statements, and other relevant information to assess applicants’ insurability and calculate insurance premiums. Insurance underwriters also analyze market trends, claims data, and underwriting guidelines to develop risk assessment models and pricing strategies.
Underwriters also collaborate with insurance agents, brokers, and other professionals to underwrite policies, negotiate terms, and ensure compliance with regulatory requirements. Insurance underwriters may specialize in various types of insurance, such as life insurance, health insurance, property and casualty insurance, or specialty lines of insurance, depending on their expertise and interests. A career as an insurance underwriter requires strong analytical skills, attention to detail, and the ability to evaluate risks effectively to make sound underwriting decisions.
Corporate Treasurer
Corporate treasurers play a critical role in managing the financial assets and liabilities of corporations. They oversee cash management, capital budgeting, and investment strategies to optimize the organization’s financial position and liquidity. Corporate treasurers monitor cash flows, forecast cash needs, and develop strategies to fund ongoing operations and capital projects. They also manage relationships with banks and financial institutions, negotiate financing agreements, and ensure compliance with debt covenants and regulatory requirements.
Corporate treasurers also assess and manage financial risks, such as interest rate risk, foreign exchange risk, and credit risk, through hedging and other risk management techniques. A career as a corporate treasurer requires strong analytical skills, financial acumen, and the ability to collaborate with internal and external stakeholders to achieve strategic objectives and mitigate financial risks.
Chartered Tax Accountant
A Chartered Tax Accountant specializes in tax law and regulations, providing comprehensive tax planning and advisory services to individuals, businesses, and organizations. They analyze financial data to ensure compliance with tax laws and optimize tax strategies to minimize liabilities. Additionally, they assist clients in preparing and filing tax returns, while also offering guidance on tax-efficient investment strategies and estate planning. Overall, Chartered Tax Accountants play a crucial role in helping clients navigate complex tax matters while maximizing financial efficiency.
Financial Consultant
A Financial Consultant offers personalized financial advice and guidance to individuals and businesses to help them achieve their financial goals. They assess clients’ financial situations, including income, expenses, investments, and debts, to develop customized financial plans. Financial Consultants provide recommendations on investment opportunities, retirement planning, risk management, and wealth accumulation strategies tailored to clients’ needs and objectives. They also offer ongoing support and monitoring to help clients stay on track towards financial success.
Actuary
An actuary analyzes financial risks using mathematical and statistical methods to help organizations make informed decisions. They assess the likelihood and financial impact of future events, such as accidents, natural disasters, or mortality rates, on insurance premiums, pensions, and other financial products. Actuaries use complex models to develop strategies that minimize risks while maximizing profitability for their employers or clients. Additionally, they often communicate their findings and recommendations to stakeholders, such as executives, regulators, or policyholders.
Financial Auditor
Conclusion
In conclusion, a finance degree can open doors to a wide range of rewarding careers in the financial services industry. Whether you’re interested in analyzing financial data, facilitating corporate transactions, helping individuals achieve their financial goals, managing risks, or maintaining financial records, there are plenty of opportunities to pursue a fulfilling career path in finance.
Investing in a Relaxing Space in Your Home
As my birthday approaches, my husband has been asking more about what I’d like as a gift this year. Now, since my birthday falls so close to Christmas, I don’t usually expect much of anything. This year, I asked for his help in creating a relaxing space in our home where I can wind down and feel at peace.
After a while, I thought more about it. People don’t invest enough time or money into creating a home that brings them peace. Usually, they are trying to create a home that looks Instagram-ready (or even just company ready). However, investing in a relaxing space in your home and putting more stock into utility than looks can go a long way.
Why You Should Invest in a Relaxing Space
When it comes down to it, many of us work from home these days. It can be hard to escape from your desk and whatever work you might need to get done. Even if you don’t work from home, having a relaxing space that is meant just for you can make a world of difference.
As a mom and a wife, it is hard to feel like anything is just mine. I wind up sharing my water, my food, my bed, and my space. People living in homes with their families often feel that way too. So, again, having that space set aside for JUST YOU can be amazing.
Think about what you would put in this space and consider how much you’d need to do to make it relaxing for you. For me personally, I’d love a big comfortable chair with an overhead tall reading lamp. A side table with a few books within reach and a yarn bowl would complete it. It’d also be ideal to have that spot near a window in our home.
Overall, it will probably cost less than $500 to put together, especially if I stick to Facebook finds. The price will be well worth the peace it will bring me. Not to mention, I’ll be less tempted to run out and spend money if I have an amazing space to curl up in with my books.
Utility Over Looks For Your Home
All in all, I suggest utility over cosmetic desires when it comes to buying things for your home. Think about how you want your home to serve you and buy furniture, electronics, appliances, etc. that further that purpose.
This goes for everything from investing in your relaxing space or getting what you need for your kitchen. Buy what works for you and don’t pay any mind to what’s trendy.
Similarly, buy things even if they aren’t pretty, especially if they’ll fix a problem for you. Baby proofing is oftentimes ugly looking, but it is extremely useful when you have a one-year-old wanting to explore everything. A shoe rack might not meet the eye well, but it holds all of your water bottles so you don’t have a pack sitting on the floor somewhere. Things like that can make a huge difference in your day-to-day life.
At the end of the day, investing in a relaxing space and investing in making your homework for you is always worth it. You’ll look forward to crossing the threshold every day.