4 Ways to Get Out of Debt Through Debt Consolidation
/Lydia Wanjiru/ - Debt consolidation is one of the options to consider to get rid of your debts. Debt consolidation involves taking out a lower monthly interest loan to pay off your existing debts. It is used to basically combine all your debts into one single loan that you can repay monthly usually at a lower interest rate than your current average. A new debt consolidation loan can be used to repay off your unsecured debts.
6 Common Retirement Options and How They Differ
The retirement planning process is a process that takes a lot of time and efforts and you should start planning for it as early possible. The retirement plans you make at a younger age can help you to achieve your retirement goals and help you maintain the lifestyle you wish to have in your later years. You can accumulate a variety of retirement plans as you advance in your career. There are a variety of plans that can help you to save for the retirement.
6 Common Retirement Options and How They Differ
/Lydia Wanjiru/ -- The retirement planning process is a process that takes a lot of time and efforts and you should start planning for it as early possible. The retirement plans you make at a younger age can help you to achieve your retirement goals and help you maintain the lifestyle you wish to have in your later years. You can accumulate a variety of retirement plans as you advance in your career. There are a variety of plans that can help you to save for the retirement.
5 Critical Financial Planning Tips for Single Parents
/Lydia Wanjiru/ -- Raising children is one of the hardest jobs in the world. This is even more challenging when you are a single parent. You may be single due to death or divorce of a spouse or any other reason. It takes a lot of time and effort to achieve financial freedom in life. There is no doubt that it is more daunting when you don’t have a spouse. This article will outline 5 critical financial planning tips for single parents: 1. Create a budget If you are the sole provider of your household, you need to create a family budget. A budget helps you to control your income and expenditure. Identify your total household income and plan for the payment of the recurring home expenses like mortgage, utilities etc. Plan for what you should spend money on and trim unnecessary expenditures. Set up an automatic payment plan to pay the bills and to handle the recurring expenses. This helps you to avoid late payment which can attract penalties and other unpleasant financial consequences. Open a bank account and find out the financial products that you can obtain that can help you meet some of your needs. Review your average net worth regularly to determine your financial position. 2. Create an emergency plan and an estate plan Set aside funds which can act as a safety net in case of an emergency. Save a few dollars for a rainy day. You can set up a life insurance policy or any other relevant insurance plans that can come in handy in case an unexpected event occurs and you are not in a position to continue supporting your family. Ensure that you name the beneficiary of your life insurance policy when you apply for it. You may also consider setting up a trust where your assets can be held and are overseen by a trustee to provide for your children in future. Create a will and name guardians for your children. 3. Save and invest your money Save and invest money to accumulate wealth. Invest in places that can create an extra stream of income to supplement your salary or your current income. You can consider investing in real estate or in a high-yield investment program. You can also invest in stocks or set-up a business that generates constant income. Start as early as possible to save for your children college or advance studies fees when they are still young. Automate savings and set targets of the amounts to accumulate weekly, monthly, quarterly or yearly. This can be done through a financial institution like a Bank or a Sacco or you can open an e-savings account. In the U.S, you have an option of investing in the 529 savings plans. Check and follow the state conditions and costs regarding the plans. Also, contribute to the retirement programs like the Roth IRA to secure your future as a retiree. 4. Take advantage of income tax deductions The government has set in place tax breaks for single parents. The standard deduction in 2017 for a single parent filing as the head of the household in the U.S is $9, 350. If you are single, widow or widower, you are eligible for a tax credit of up to $1,000 for each child under 17 years if your adjusted gross income is less than 75,000 per year. Lower income earners may also be eligible for the earned income tax credit (EITC) if the adjusted gross income is below $38, 646 per year. You can claim for the Earned income tax credit (EITC) and additional child tax credit (ACTC) while filing your tax returns even if you did not earn enough money to owe taxes. The IRS also provides tax breaks, tuition, and fees deduction for families with college-age children. If you got assistance from a child care to be able to work, you are eligible for the child and dependent care expenses if the child was 13 years and below. 5. Teach your children about money Have regular money management conversations with your children. Teach them how to save and the need for saving from a tender age. This helps them to learn how to be self-sufficient and it triggers inner desire in them to excel financially. It will also help them to cut on expenditure on unnecessary items and to stick to your family budget. Take charge of your financial position as a single parent and start planning as early as possible. This will ultimately help you achieve financial freedom.
Bombardier Transportation Inaugurates New Production Hall for Series Production in Saxony – Kick-off for Industry 4.0 at its Bautzen Site
BAUTZEN, Germany, June 15, 2018 (GLOBE NEWSWIRE) --
J.D. Irving, Limited supporting moose study to examine impacts of winter tick
SAINT JOHN, New Brunswick, MONTREAL, FREDERICTON, New Brunswick, and QUEBEC CITY, June 13, 2018 (GLOBE NEWSWIRE) -- J.D. Irving, Limited (JDI) is the major private sponsor of a partnership which includes Université Laval, Université de Montréal, the University of New Brunswick, and the provinces of New Brunswick and Quebec. This five-year project is focused on understanding possible impacts of winter ticks, climate change, and predation on moose populations.
Supermajors Need to Invest Nearly $30 Billion in Permian Basin through 2020 to Meet Volume Targets, Further Exacerbating Service Shortages, IHS Markit Says