Money Matters

Why Does Your Credit Score Matter?

2015-04-01T21:31:00.000-06:00

In today's world of instant everything you may be wondering why bother with your credit score? Your credit score is important because it is the first thing any financial or lending institute will look at to determine if you are a reasonable risk to lend money to. But maybe I'm getting ahead of myself...

What Is A Credit Score?

Generally speaking, your credit score is a measure of your financial history and your anticipated ability to manage debt. Its a complicated formula that takes into account your loan and repayment history across all sectors. Also considered are the types of loans and accounts you have and how often you apply for loans. Ultimately the goal is to assign a three-digit number that represents your creditworthiness.

How To Maintain A Good Credit Score

Now that you have a basic idea about what a credit score is you also have an idea of its importance in your financial plan. Your objective then is to maintain a good credit score so that you can:

· get a credit card

· get a mortgage

· get a car loan

· get a bank loan

So how do you keep a strong credit score? Be diligent.

· pay your bills on time

· only apply for credit that you need - you don't need six credit cards

· maintain a variety of banking and investment accounts

· be employed - show regular deposits into your account

Basically, if you practice good money management you should be able to maintain a good credit score.

All good practices and intentions aside, your credit score will move around a bit depending on your financial situation. As time goes on and you acquire more debt, get a mortgage, have a family, etc. its important to remember to always make your payments on time. That is probably the one thing that will affect your credit rating the fastest.

Life happens so try not to sweat the small stuff. Just do your best and try to always keep a thought on your credit score when you are making financial decisions. A budget is the perfect tool to help you stay on track.

For more on budgets read this article: A Budget - The Ultimate Financial Tool on my website.

Rumor Has It...

2015-02-27T12:43:00.003-07:00

Growing up we assume the different aspects of our life are separated or compartmentalized by society. We couldn't be more wrong.

Social Stigmas

When we look at people or people look at us assumptions are made - good or bad, right or wrong. Everyone forms an opinion about another person based solely on sight. Add to the sight assumptions - rumors and your have a volatile mix of misinformation.

Here are some more common stigmas:

She goes to church with her parents = a 'good' girl
He got into a fight at school = trouble, always looking for a fight
His dad's a drunk = the kids will be unambitious drunks too
Her parents are really smart = she is smart

You get the idea.

These are simple assumptions based solely on the kids' parents and the whole 'apple doesn't fall far from the tree' mentality. How accurate are they? Not even close.

How Social Stigmas Affect You

Social stigmas are out there. They are an automatic response in every person. Maybe its a throwback to our primitive ancestors when instantly accessing another individuals intentions was a life and death skill.

Many people don't even realize they are making assumptions or if they do they make a conscious effort to ignore them. You can't avoid being immediately categorized upon initial contact. What you can do is make a good first impression.

How to Limit the Effects of Social Stigmas

As you grow older, rumors tend to play a bigger role in social stigmas than pedigree. Your best option then is to make sure the rumors are more positive than negative. So how do you do that:

Realize everything you do is being observed and judged by someone. From where you live to what you do for a living. How you treat other people to how you interact with animals. Where you go on vacation to how you spend your non-working hours. It is all being observed, shared and judged.
Nothing ever goes away on the Internet. Everything put on the Internet is there forever so be very careful about what you post. Those drunk photos or nude selfies might find their way to your boss or possibly even the spouse you never had at the time (think 10 years later).
Be real. Be you. If you are happy with who you are then be that person all the time. The rumors will reflect this person.

Actions always speak louder than words. The person you present to the world through photos, writing, speaking and interactions will ultimately overwrite the rumors. Just remember, you can't hide.

Ultimately the Internet can be your best friend or worst enemy depending on how you use it. It is becoming more and more common for a prospective employer to do a 'quick' Google search on their applicants. What will they find if they were to type in your name? This article: Can Social Media Affect Your Credit Score? has more great but disturbing information on this topic.

In the end you are who you are. You will always be gossiped about and assumptions will always be made. All you can really do is quit feeding the fire.

Rebates - Scams or Money In Your Pocket?

2015-02-27T09:00:00.000-07:00

Everybody likes a deal. That's why rebates work so well. Consumers walk into a store, if there are two competitive products side by side for a similar price but one item offers a mail-in rebate which item do you think ends up in the cart? You got it - the one offering the rebate.

Unfortunately, not all rebates are created equal. Some rebate applications are long, complicated processes. Some rebates come with unexpected fees and expiration dates. Some rebates don't come at all.

Be Aware

The truth is stores don't want to give you a rebate on anything. It costs them money. So to help limit the number of rebates actually handed out a store relies on a common human trait - laziness.

Long, complicated forms that require accompanying receipts and barcodes sometimes even a small fee to cover shipping prove to be major deterrents for a lot of people. For those of us that persevere there are other issues:

· Expiry dates. Read the fine print on the rebate offer. Often an item will sit on the shelf long after the expiry date on the rebate offer. If the only reason you are buying that product is the rebate make sure you have time to claim it.

· Hidden fees. If you have to pay a shipping fee, processing fee or user fee then is the rebate really worth it?

· The delivery method. The trend seems to be leaning away from issuing checks for rebates - the preferred delivery seems to be debit cards. This could be a problem if a store won't accept it as part of a combined payment. For example, you use the remaining balance on your card plus cash to make a purchase.

Not All Rebates Are Scams

While it's true you have to be a smart consumer and do your due diligence when it comes to rebates its important to note that not all rebates are out to cheat you. Many big and small businesses use rebates as a marketing tool with no malicious intent at all.

You can feel secure in the fact that if you follow the rebate application requirements to the tee you will get your promised rebate from any of the big name companies. The smaller, no-name businesses might be a different story so a quick Internet search might be in order.

As a general rule your rebate should arrive in several weeks. If it arrives too fast then you should run a quick check on the issuer just to be safe.

The best rebates are the instant rebates that are given at the till. Be sure to check your bill though before you leave the store. Sometimes claiming a rebate requires a teller to manually enter it and it can easily be forgotten.

Rebates can be good for the pocket book if they are legitimate. However, if you are making a purchase just because it has a rebate attached to it then you are indulging in impulse buying and that is ultimately bad. See my article, The Curse of theImpulse Buyer for more about impulse buying.

Before jumping on the rebate bandwagon consider the regular price, quality and legitimacy of the company offering the rebate. Read the fine print and take note of the expiry date and application process. Shop smart and buy things because you need them. You are not actually saving anything if you purchase something you will never use.

The Consumer Affairs website has many great articles on rebate scams and safe practices if you are interested in learning more.

10 Ways To Be Poor Forever

2015-02-24T22:54:00.001-07:00

Financial independence is something we all dream about but unfortunately for many people it will always remain a dream. Most people are destined to be poor forever.

Luckily, you are taking steps to keep you from falling into the "poor forever" trap. Making money is a habit that you learn through education and experience. It takes commitment and dedication on your part. Most importantly, it takes an attitude.

What Is Your Financial Situation?

One of the biggest mistakes people make is in not knowing their financial situation. Things like how much debt you are carrying, the actual costs of items like insurance and loans or not thinking about the future. Things sneak up on you when you live like this. Big things - like foreclosures and repossessions.

10 Steps To Keep You Out Of The Poor House

To help you stay out of the poor house I've made a list of some of the most important factors you need to keep in mind.

1. Get educated. Either through courses offered at work, post secondary education or on-line classes - make yourself a more valuable employee.

2. Know your debt. Consolidate all your debt into one place so you can see at a glance how much money you owe. Be aware of this debt and work to minimize it.

3. Pay back your debt. Easier said than done sometimes but you need to make every effort to pay debt off. Interest rates on personal debt is high and if you don't get a handle on your debt it quickly becomes unmanageable.

4. Don't live outside your means. Before you run out and spend money ask yourself if you really need it - then ask yourself how you are going to pay for it. Remember, debt is not necessarily your friend.

5. Learn your tax system. Educate yourself on the basic tax rules. Knowing how your government taxes you will help you save money. You can plan major purchases or sales to minimize your taxes owing.

6. Save some money. Canada has plans like the RRSP - registered retirement savings account and TFSA - tax free savings accounts that offer incentives to help you save money for the future. Even $50/month will make a difference.

7. Graduate. Post secondary studies are a great thing. There is so much you can learn but it is expensive. Unless someone else is paying your way you need to graduate and get to work.

8. Review your insurance needs. Insurance costs can get expensive. Know what you need to insure and review your insurance needs yearly.

9. Forget about the Jones. Be your own person. Don't try to compete with those around you it will only drag in down into the debt trap.

10. Choose your friends wisely. Surround yourself with people that have a similar mindset as you. You constantly feed off of the people around you. They motivate and educate you so make sure your friends are people who will help you move forward.

These are factors that I feel are important for a healthy financial life. As you educate yourself on personal finance and wealth building you will develop your own list.

Whatever points you decide are important will be correct for you and your personal mindset. The main idea here is that you need to always be thinking about money and how you are going to keep it in your pocket.

The Future Is Yours

The future will be what you make of it. Life will undoubtedly throw you curve balls but if you keep a strong 'money matters' mindset you can overcome anything. Save Money By Keeping Track Of Your Receipts is another article I've posted that you might find helpful when it comes to knowing where your money is going.

That being said, don't let money consume you. Make time for friends and family they are what is really important. Money may make living life easier its people that make life worth living.

The Curse of the Impulse Buyer

2015-02-23T16:59:00.000-07:00

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An impulse buyer can have more of an impact on your financial situation than you may realize. Often, you don't even recognize yourself as an impulse buyer - or if you do, you don't realize how bad it is.

ARE YOU AN IMPULSE BUYER?

Ask yourself these simple questions:

· Does anyone complain about how much money you are spending?

· Does the balance on your credit card surprise you at the end of the month?

· Do you have more clothes, shoes, jackets, etc. than you can possibly wear?

· Do you have all the latest gadgets as soon as they are released?

· Do you buy things you "didn't even know you wanted" until you saw it in the store?

If you answered "yes" then you may be (probably are) an impulse buyer.

THE EFFECTS OF IMPULSE BUYING

The effects of impulse buying are varied but in the end someone will suffer.

If you are single and unattached then the only thing suffering is your bank account. However, if you have a family or significant other then your uncontrolled spending will also affect them by limiting what you can afford to buy or do as a family.

HELP FOR THE IMPULSE BUYER

The good news is once you recognize your impulse buying habit; you can take steps to control it.

1. Only go shopping when you actually need something. Don't wander aimlessly through the stores this actually promotes impulse purchases. Go only to the store you need and pick up only the items you came for - then leave, fast.

2. Carry cash. If you can't seem to stay out of the stores then carry cash. Leave the credit cards at home and just carry a minimal amount of cash. Plan ahead for your purchases and bring just enough money for the item you're planning on buying.

3. Make a list. Write down what you are planning to buy when you go to the store and then follow your list.

4. Give yourself some buffer time between seeing an item you want and the actual purchasing of the item. If you spot something not on your list then tell yourself you have to wait until it is on a list before you can buy it. When you get home put it on a list if you still think you need it.

5. Wait two weeks. For the bigger items (set a dollar limit, say $50) make yourself wait two weeks before going back to buy it. That should be enough time to decide if you really need it or not.

Don't be too hard on the impulse buyer - whether it's yourself or someone else. As consumers we are buffeted 24/7 by advertising blitzes and some of those advertisements can be pretty convincing.

Recognize impulse buying as a problem and take steps to limit it. My previous article: Frivolous Spending, will help with this. It might also help to set a financial goal to feed your "impulse" money to instead of random products - like a down payment on a house, new car, vacation, education, etc.

Retail therapy - the act of buying something in the hopes it will make you feel better - is not something you want to indulge yourself in for very long. Follow the five steps listed above and get control of your spending.

Your financial future will thank you.

The Benefits Of A Home Based Business

2015-02-12T20:47:00.002-07:00

For some reason many people think a business that is run out of the home is not really work. I've even heard some people say home based business operators are lazy, unmotivated or don't want a real job. These nay-sayers couldn't be more wrong.

Most people that run a business out of there home work very hard at it. That being said there are many different types of businesses with different levels of commitment required. Basically, you get out what you put in.

What Can You Expect To Gain:

This post is not about the different types of home based businesses though. Its about the benefits of running one.

Tax Savings. Everyone pays taxes. The average employee will pay taxes on every dollar he earns and if he's lucky he might have a few allowable deductions or credits that he can use to recover some of his money. The home business owner also pays taxes on every dollar earned but he can then claim deductions for all the money he spent to earn his income. This is powerful.
Your Own Hours. If you work your own business out of your home you can set your own hours - to some degree. Obviously, you will still need to interact with the general public during regular business hours. You can choose how many hours a day you want to work. When you start. What days you take off, etc. Usually though, many home business owners tend to work longer hours that they did at their regular day job. On the plus side, those hours benefit you directly not some corporation.
Family Time. Many home business owners are stay at home mom's or dad's. Often they work when the kids are napping or at school. If available often parents will drop their kids at preschool, play school, a babysitter or daycare once or twice a week so they can work and the kids can socialize with peers.
Attitude. While its true that there might be more pressure on you to make your business work its your business. With the pressure comes a sense of pride, a sense of ownership and a level of satisfaction that you normally wouldn't find as an employee. You now have a reason to get up in the morning and your motivated to go to work.
Your The Boss. You get to make the decisions. You get to reap the rewards. You get to hire and fire. You're the boss! That also means you are responsible for all the bad decisions as well but - you're the boss! I bet that feels good.

To put this in perspective lets look at Jill.

Jill is married. Her husband works at a construction job and makes decent money. Jill is a hairdresser. They have two children in elementary school. Jill's wage pays for the babysitter they need to look after the kids everyday after school and the odd Saturday if they are called to work.

Jill quits her job and sets up a hairdressing shop in the spare bedroom at their house. Now Jill is able to be home when her kids get home or if one of them is sick - no more babysitter. Jill builds a clientele and is busy. She hires someone to come in part time and help her. Since she has help Jill expands her business to include hair cuts and styles at the clients home. Everyone is happy.

When tax time rolls around Jill is starting to worry. She has made more money than she ever did working for a wage. Fortunately, she is able to lower her earned income with business deduction. The cost of setting up her shop and all her supplies are deductible. Her employee's wages are deductible. She can also claim a portion of the household utility bills and mileage for the use of her car.

In this example our home business owner is really working her business hard. If you are not ready to commit to that degree there are many businesses you could work in the evenings or weekends. As long as you can show that you are running a business with the intent to make money you should qualify as a home business as far as the tax man is concerned. Local by-laws may limit you to some degree so always check that before you commit yourself.

Your home based business may consist of only an office in your house if your business is internet based or requires you to visit clients homes. That is another benefit - you don't have to make your home assessable to the public - go to them.

What's Holding You Back?

If you have an entrepreneurial spirit then a home based business might be a good fit for you. Look around your community and see if there is a need you can fill. Check out the by-laws relating to home based businesses. Then plant a sign in your front yard and get to work. Build your business slowly and stay working at your day job until you are confident enough to run it full time.

Home based businesses are not for everyone but you might just find one you.

Jobs Teens Can Do To Make Some Money

2015-01-28T10:06:00.004-07:00

Teens are in a tough position. They go to school, do homework and maybe play sports or have extracurricular classes in the evening. They also desire 'things' which require money.

As parents we don't (or maybe can't) afford to just give them money for every whim. As parents we have learned the hard way the cost of money. Teens especially have many whims - from new video games and gaming platforms to that first car. We need to encourage our teens to find some way to make their own money.

Jobs for teens:

Paper route. In many communities newspapers or flyers are hand delivered to residents. You might try inquiring at your newspaper offices or even the post office for delivery jobs.
Odd jobs. Make yourself known to your neighbors and especially the elderly in your community. Let them know you are available for odd jobs. I suggest you make up a flyer listing your skills, what you would charge and your contact information. Either hand deliver the flyer (this would be best) or leave it in their mail boxes.
Bottle returns. When we purchase beverages the containers come with a bottle deposit. When you return the bottles to a bottle depot you get a portion of the deposit back. Collect bottles from around your community to return. Again visit your neighbors and offer to return their bottles for 50% of the refund.
Babysitting. If you are responsible and like kids then take a short course on babysitting and make yourself know to those people in your community that have young children. Again make a flyer stating that you have taken the babysitting course, include your fee and contact information.
Tutoring. Are you smart in some subject in school? Present yourself as a tutor and help other kids. Along the same lines - if you know a second language then you are in a position to help people learn that language or to learn English.
Pet walking/sitting. Make a flyer and offer to walk pets or feed pets for people on vacation.
Shovel walks. People will pay you to shovel their walks and driveways. Let them know you are available.
Write. Do you like writing? There are plenty of places online to publish short articles and make a bit of money. Teach yourself to blog or write and publish an ebook to make some extra cash. This can be a bit slower but its something you can do from home.
Do chores. Make an agreement with your parents to do some specific chores (or cleaning) in exchange for a weekly allowance or 'by the job' fee.
Yard work. Visit your neighbors and offer to mow their grass, plant or weed their flowers, trim hedges or just do a basic yard clean up.

While teens do have some limitations related to location, transportation, knowledge and age, they are still able to work. As long as they are ambitious they are only really limited by their imagination.

Parents of course, play a big role in what their teen does to earn extra money. As a parent you need to be supportive and at the same time keep your child safe. Most of the job ideas presented above can be done within walking distance of home but some may require parent involvement. Teens need to respect that parents are busy and may not be able to drive them around.

As you can see, there are jobs out there for the ambitious/driven teen. You need to focus on a plan and make it happen.

Help Your Children Learn About Money

2012-03-28T11:03:00.000-06:00

Everyone dreams of becoming rich at some point in their lives. However, no one dreams bigger than our kids.

Once they are old enough to earn income they are dreaming of what they are going to buy with all their money. The only real problem with this is that they have no real idea of the value of money. This is where the parents come in.

Parents need to encourage and teach their children about money. Encourage your children to learn more about the power of money, how to invest it, how to spend it and more importantly how to save it. It's hard to do considering children are minors and don't have access to the money management systems that are available to adults.

Here is an excellent eBook that will help your young adult with his or her money and give them a strong foundation to grow their personal wealth.

The author has created an excellent money building strategy eBook with step-by-step tasks your young adult can accomplish. Written for the 14 - 20 year old age group this book will help your children learn good money saving habits and teach them important money management techniques that will benefit them for the rest of their lives.

Don't you wish you knew more about money and bad spending habits when you were a teenager? How much money could you have saved? Just think of how much further ahead would you be now if you had been shown how to save money when you were younger.

Give Wealth Building Strategies For Students And Young Adults a look. Download the free preview or better yet for $2.99 purchase the whole eBook. You won't be disappointed.

Calculating Mortgages

2012-03-25T22:53:00.000-06:00

Applying for a mortgage is one of the most complicated and potentially expensive things a person may do in his/her life time. So it pays to take the time and make an informed decision. The more informed you are the better decision you will make.

There are a number of sites out there that will help you do this. I found a good mortgage blog site that was very helpful when it comes to calculating mortgages and rates.

This blog offers a wealth of information on qualifying for mortgages, credit ratings, refinancing and purchasing mortgages as well as setting up the most cost efficient payment plan. They offer - free of charge - calculators so that you can easily figure out payment schedules, plan and compare rates, calculate interest, consolidate loans or compare your debt to income ratio.

With all the information contained on this mortgage blog site you should be able to take some of the fear and mystery out of owning a mortgage.

A mortgage is a big commitment for anyone. Learn all you can before you apply and don't be afraid to talk to the professionals - and yes, everyone who sells mortgages will profess to be be a professional. Study their websites and talk to them. A professional will be happy to talk to you without trying to force you to commit to them. A professional will offer free tools and advice. A professional has your best interests in mind.

Everyone wants your business so shop around and choose a mortgage broker that you feel comfortable with.

How To Make Money With Traffic Exchanges

2011-09-28T10:07:00.001-06:00

Don't overlook the power of traffic exchanges or pay-to-click sites when it comes to making money on the Internet.

Let's first look briefly at what these two types of sites are then I will let you in on the secret to making money using both of them.

First, a pay-to-click site is exactly that. You are paid cash for clicking on and viewing a web page for a specific amount of time. In the example I will show you, you get paid for viewing sites for 3-60 seconds. Usually you would get $0.001 to $0.02 per view.

Now, a traffic exchange is similar in that you are still viewing pages for allotted periods of time. The difference is that you earn credits that you then spend on that traffic exchange site to send traffic to one of your pages on the Internet. Usually you receive no cash however, some sites will pay you per 1000 views or so.

So, how do you make any money at this?

Obviously, the pay-to-click sites you simply view pages. With the traffic exchange sites your income is a bit more vague. For example, you use a traffic exchange site to drive traffic to your website or affiliate link. The increased traffic with increase your ranking with the search engines since your site now looks more popular. From the new traffic to your site you may get additional clicks or purchases of your affiliate products.

Need a proven plan to follow?

Step 1. Go to the following 4 sites and join them - they are all free with optional upgrades:

Step 2. Use the sites. At ClixSense view all the ads that are sent to you. Do the grid and sign up for the surveys if you want then watch your balance grow. The other 3 sites are traffic exchanges so make sure you include your link to an affiliate product or your website. (If you need a page to promote you could use this one.) View some sites and watch your credit balance grow. All 3 traffic exchange sites offer bonuses periodically as use are using them. Try to spend about half an hour at each site or give yourself a target to reach each day. FYI - the bonuses generally become more valuable the more you view.

Step 3. Promote your affiliate links to the exchanges you have joined. Promote your links on your social networking sites. Send out an email to your friends that might be interested. Put your links on the traffic exchanges, blog posts, comment sections, etc. Just get your links out there and promote it.

That's it. Easy right? Sign up, be active, promote your links. Where you will really see some big income is when someone signs up through your link. You will get a commission and you will get paid for every click or view your referral makes. The best part is you will get this through numerous tiers or levels of referrals.

Give this plan an honest 30 day trial. Put your time in viewing and promoting your links. It does work. Remember you will get out of it what you put in.

Good luck.

How To Make Money With Referrals

2011-09-25T00:39:00.000-06:00

Referrals are the key to long term income. Setting yourself up to make the most of your referrals is fairly easy. But perhaps I am getting ahead of myself.

Lets start with a simple definition of a referral.

Referral - someone who joins a program offered by another site through a link from you.

Each site has its own referral structure. For example some sites may pay you a percentage of the income earned by your referral. Sometimes you get a flat rate referral fee. Sometimes you get both. Different sites may pay you for multiple levels of referrals. For example you refer a person who then signs up someone, who signs up someone else. Each successive person is another level and you will often earn from all the levels.

Triond - publishing site. This site allows you to self publish original, unique content in any format and in almost any topic. It is free to join and pays you monthly regardless of how much you earn. It also has a referral program. You earn 10% of your referrals income (paid by Triond) excluding Google Adsense, for as long as your referral remains a member.

ClixSense - a pay to click site. This site pays you to click on advertising they display for you. They have free membership and paid membership that offer different pay rates for referrals and ad clicking. When you refer someone to this site you could earn in several ways - from their clicks, membership purchase, purchase of credits, upgrades and from their referrals.

EasyHits4U - a traffic exchange site. They pay you cash per 1000 sites you view. You also earn credits per site you view. You use your credits to have people view your site. They pay you cash for your referrals that view 100 sites as well as credits. You get commissions on EasyHits4U products that your referrals purchase as well as credits for your referrals referrals.

These are three sites that pay decent referral fees. I am a member of all these sites and as you guessed the links are my referral links (just in case you wanted to support this site). If you have a blog or website you probably should be using these sites to generate traffic and build links.

Growing your referrals is a matter of getting your links out there for the public to view. Write some articles and include your links or include links (where allowed) in the comment section of relevant blogs. Social networking on sites like Twitter or Facebook are another spot to put your affiliate links.

If you make a habit of putting a link or two in whatever you publish online then you will be able to grow your referral list. Eventually, you should be able to see some decent income from your referrals alone.

Building a referral list takes time and some work on your part (to get your links out there and to promote them). So be patient. Good things come to those who do the leg work.

Make Money Writing Articles For The Internet

2011-09-21T22:35:00.000-06:00

I touched on article writing as a way to make money on the Internet in my previous article - How To Make Money On The Internet This post will expand on those ideas.

Article writing doesn't require you to have a blog or website. So what can you do with an article?

You can write articles, save them on your computer, then sell them to websites that need content. Simply do a search for 'articles needed', 'writers wanted', or search some job data bases to come up with potential writing jobs.
Self publish your article and earn shared income from advertising. There are no end of article directories that will publish your articles in return for a percentage of the advertising income your articles earn. Here are two sites that I personally use:

Triond This is my personal favorite. When you join Triond (which is free) you set up your personal profile, add your links to Twitter and Facebook and decide if you want to show Google ads. Now write articles, poetry, short stories, recipes on any topic you want using their publishing platform (its very easy) and publish it. You article goes through a screening where it is checked for originality and quality. The sites rules will tell you want exactly is not allowed. If it passes it will be published. You earn money per so many page views and when someone clicks on one of the ads associated with your page. Your Google adsense earnings will show up in your Google account but Triond will pay you every 30 days. You can put links in your articles to other articles or products you are promoting however your article can not look like a sales letter.
HubPages At HubPages you join for free and create your profile, including links to Facebook and Google advertising if you want. Very similar to Triond's signup. Here the article pages are called Hubs. You can add links and pictures as long as your Hub doesn't become an advertisement. You get paid for clicks on advertising and page views.

Get paid to write about a specific topic and post it on your website or blog. As long as you meet the requirements of the job the advertiser will usually let you be creative. This type of job could include product reviews, product promotion or new releases. You are paid for the job once your article has been accepted by the advertiser and it is posted on your site. Blogsvertise.com is an example of one such site that makes this type of job available to you.

When it comes to writing article, how you use them can be worth more to you than want the actual article earns you. By publishing articles in various places around the Internet you are reaching different people. Now if you have links in your articles that point back to your website or blog you are bringing traffic to yourself as well as improving your SEO with back links.

If you like to write then article writing is a great way to express yourself and publishing on sites like Triond or HubPages gives you the freedom to write what you want.

How To Make Money With A Blog Or Website

2011-09-21T10:05:00.004-06:00

In my previous post we looked at some of the different ways you can make money on the Internet. If you didn't read it take a quick look now. - How To Make Money On The Internet

Although a website or blog is not necessary it is easier if you have your own to work on. That then is the topic of this post - making money with a website or blog.

Step 1 - Choose your platform and create a blog or website.

There are many website and blog hosts available that you can choose from. They all have their good and bad points as do websites verses blogs. You will have to make the choice for yourself. As for whether you should create a website or a blog it is up to you.

Websites offer more freedom as far as choosing a URL and what you can publish. They also tend to have more tools and apps that you can work with. However, websites are more involved.

A blog (like this one) has more restrictions and publishing rules that you must follow but it is super easy to set up. This blog was created on Blogger.com which is a free blog operated by Google.

If this is your first attempt at creating a presence on the web then I would suggest a blog simply because it is the easiest. When you are ready to take over control of your content, advertising, etc. then make the move to a website.

Step 2 is to monetize your blog or website.

Whatever your topic there is someone out there with a related product. Use a site like Clickbank.com to choose an affiliate product to promote on your site. Then use your affiliate link (that they provide) to promote and hopefully sell the product(s). Clickbank.com keeps track of your sales and pays you the agreed upon percentage (usually around 80%) of the sale price.

Advertising space is another money maker for your site. Google.com/adsense is popular. If you have a blog on blogger.com it is easy to activate. Other hosts make adding google ads fairly easy as well.

Call to action promotions. These can be found on sites like OfferVault.com which offers a collection of networks with call to action promotions. Once you sign up for a network you can place links to their pages. If a person follows through with the specified action (entering email, purchase, contact information, click) you will be paid an agreed upon amount.

Step 3 - bring visitors to your site.

You can have the best site on the Internet but if no one visits you will not make any money. So you need traffic. This will probably be the hardest thing you have to do.

Your site is indexed in the search engines using lots of different criteria but the most important is traffic. If the search engine sees your site as popular (based on traffic) it will be indexed higher. Good SEO (search engine optimization) and keyword usage helps but if you want immediate traffic then you need to go to a traffic exchange such as Hit2Hit or EasyHits4U. These sites give you credits for viewing different sites for a specific length of time. You do all of this from their website. They provide a digital count down followed by a matching question (to insure a human is doing the viewing). When the time hits 0 you click on the matching object then points (called credits) are credited to your account and another page is loaded for you to view. Your credits are then used to get views to your site in the same way. The time you view the site is from 6 - 40 seconds. These two sites also pay you a nominal fee for your activity as well as bonus credits.

Be aware that google adsense does not like traffic exchanges so you would want to disable the advertising while you are using the exchanges.

In a nutshell, that is how you would make money with a blog or website on the Internet. In future posts I will go into more detail about the usage of affiliate marketing, advertising and traffic exchanges to make money.

How To Make Money On The Internet

2011-09-20T19:00:00.000-06:00

We've talked about various ways to make your money work for you. We've touched on the importance of keeping your personal identity safe. Now we will look at some of the different ways you can make money to invest.

The Traditional Method. Simply put - go out and get a job. As a young person with limited experience and possibly the commitment of school your job selections will be limited. You will most likely be able to find work in the fast food industry (flipping burgers) or as a clerk, boxer person or shelf stocker. If you are lucky you may find a position in the career field that you are considering. Needless to say, in whatever position you find work you will be working for close to minimum wage. Be happy - you have a job.

The Internet. Opportunities abound on the Internet. Unfortunately, so do the scams. You need to do your research and protect your identity at all times. With that in mind I will list some of the different money making opportunities you can find on the Internet.

Website or Blog. Both can be set up no or very low costs depending on where you set them up. A website or blog is essentially property on the Internet. On your property you can choose any of several different ways to monetize it.
Affiliate Marketing. This is essentially promoting and selling other peoples products and making a percentage of the sale price for yourself. You can promote your affiliates on your website or blog or you can do it through social networking.
Advertising. If you have your own website or blog you can host advertising for other companies. Many will pay you every time someone clicks on one of the advertisements. You also have the opportunity to join advertising networks where you can choose items to promote. Some will pay you per click on the advertisement. Some pay for a lead (that's could be simply submitting their email). Some pay for a sale of a product.
Articles. Websites need content in the form of articles. Many website administrators (that's the owners) are to busy running the site to write articles so they hire people to write for them. Often it is one article at a time. Another option for article writing is to publish them yourself on a site that pays you a percentage of the advertising revenue that your article earns.
Referrals. If you join a website that sells a product or has revenue they will often have a referral program that allows you to earn from the people that signed up through your referral link.

As you can see there are many ways you can earn money from the Internet. Each has its own merits - advantages, disadvantages - that require further exploration.

In future posts I will explore in more depth each of the options listed above. Until then you should explore the Internet and try to decide on a product to promote, topic for a blog or website and which of the methods above you would like to implement.

Avoiding Identity Theft

2011-09-20T11:31:00.000-06:00

Through the previous two articles What Is Identity Theft and Identity Theft you should have gained an idea of what identity theft is and the problems it can cause. This article will look at some of the ways you can protect yourself.

The identity thief is smart and patient. They tend to look for an opportunity and even play on peoples fears. You need to be smarter and always stay aware. Here are some of the more common ways you may become a victim.

"Your computer may have a potential virus I will help you search for it and destroy it." Have you had this phone call before? It doesn't matter who the caller is unless you called them and are certain of their identity then don't give them any information from your computer. You would know if your computer is not running right. If you have a problem or questions visit your local computer repair center.
Your garbage. I'll bet there is a lot of personal information in your trash. ie: receipts with your credit card information on it, old bank statements, expired credit or bank cards, old tax papers, insurance papers, etc. A thief is not above rummaging through your garbage can in the middle of the night if they think they can learn something personal about you that they can exploit.
Public computers. Computers hold all sorts of personal information. If you use a public computer then your should be extra cautious about imputing personal data. Computers hold information in caches for an indefinite period of time and may save information to autofill forms, etc.
Electronic waste. Your old cell phone, computer, memory stick, PDA's all store vital information about you and often your contacts. Before you throw out or recycle your IT equipment make sure and delete all your data.
Theft. Don't underestimate the dangers of the traditional snatch and run. If someone does steal your purse or wallet with your credit cards, health care information and banking information make sure you know who to call and act fast.
Social networks are notorious for tricksters. Never give out personal information to someone who wants to 'be your friend'. When you join social networks you should also be cautious about how much profile information you give out. A thief can glean personal information about you from your profiles on different websites until he has the full picture.
Passwords and PIN numbers. It goes without saying - never give them out. Protect these and change your passwords once in a while.
Only give out as much information as you have to. This especially applies to your government number (social security, social insurance, etc.) Never use your SS or SIN number for identification or credit card applications. The only people who need your number are your employer (after you get the job) and accountant to file your tax returns, claim benefits, etc.

These are only some of the ways your identity is at risk. Keep them in mind.

The thought of someone stealing your identity is scary but you can't let fear run your life. Carry on but everytime you do something that involves personal information ask yourself, 'who is watching and what could they possibly learn?' After a while you will find yourself doing things automatically (shredding papers, etc.) to protect yourself.

If you want more information here is a good ebook and step by step protection plan.

What Is Identity Theft?

2011-09-16T10:53:00.000-06:00

Identity theft is such a huge issue in today's society that I felt the need to pass along a way to protect yourself. However it has occurred to me that a little more information may be necessary to properly express the dangers of identity theft.

To that end I will start with a commonly accepted definition:

Identity Theft: A form of fraud which involves one person assuming the identity of another person for the purpose of obtaining and using personal information and credit.

That is a basic definition. Of course it becomes much more specific.

What the thief is hoping to get from a stolen identity:

Financial information. This is the first thing that comes to mind. If someone is able to obtain your personal information then they may be able to access your financial information. With this they can obtain access to your bank accounts, credit cards, investments, etc.
Medical information. If the thief is in need of medical care or drugs and is able to impersonate you then you would be liable for any expenses the thief charges to you.
Identity. A thief may choose to impersonate you in their everyday life. Perhaps the thief is a criminal or hiding they may not want their true identity know.
Criminal. A thief may try to impersonate another person if they are caught in a crime.
Child. Thieves often target young children when they are looking for a new identity since children often have no information associated with them making it easier for the thief to assume that identity.

Identity theft is a huge problem. As a victim you may be held responsible for the actions of the thief. Needless to say this could have dire consequences for you.

Hopefully, this gives you a bit better idea the forms identity theft can take. This is by no means a complete or detailed report. I simply wanted to bring to your attention some of the forms and the seriousness of identity theft.

It is important to understand what identity theft is and the seriousness of it so that you can protect yourself. As a young person just getting active in the financial world you need to be especially vigilant.

If you want a good ebook with an action plan you can easily follow then have a look at this one: Identity Theft Deterrent

Identity Theft

2011-09-14T21:00:00.004-06:00

Identity theft. We have all heard the term, maybe you even know of someone who has fallen victim. If you've heard the stories then you know having your identity stolen can be a life wrecker.

Protecting your identity and that of your family is just another thankless job we have to do.

So, we know the problem exists and we know it will be serious if it happens to us but how do we protect ourselves? There are so many areas of our lives that are vulnerable - work, internet, socializing, business transactions, shopping... the list goes on and on.

There are companies that you can hire on a monthly basis to help keep your personal information personal but they can get expensive.

The alternative is to educate yourself. Learn how these thieves think - what they look for in a target. Be active in protecting yourself. I've said it before - no one care about you as much as you care about you. Learn how to protect yourself.

There are courses on-line or in your community that will educate you. Take some. Most of what you will learn is common sense - hide pin numbers, don't give out personal information, etc. but pay attention anyway.

If you want to learn on your own, in your own time and home then look for ebooks or courses on-line.

I did find one site that provides good information to help you take the necessary steps to protect yourself and set up fraud alerts. Of course they charge a small, one time fee, $37 but it is refundable for up to 60 days. Check out the site Identity Theft Deterrent and see if it will work for you.

You are never to young or to old to fall victim to identity theft. Even if you are extra careful with your identity you still need to know what to do if you loose your wallet or credit card. Who to phone first, what steps to take to minimize the damage and what signs to watch for if you suspect your identity has been taken.

Everyone is a target - you decide if you are going to be a victim.

Being Environmentally Friendly Can Save You Money

2010-07-05T18:02:00.002-06:00

Being environmentally friendly can actually save you a considerable amount of money. As a young person who wants to build up an sizable savings this would be a great place to start.

Being green can be as simple as not looking at things as being disposable. Being wealthy can also be as simple as eliminating disposable things from your way of life.

Reduce. Reuse. Recycle. Is the motto of any green minded person today and it fits well into a money conscious lifestyle as well.

Budgeting Made Easy

2010-06-25T23:23:00.001-06:00

Budgeting means different things to different people. But they all have the same thing in common. They all help you look after your money by making you aware of where you are spending your money and where you could save some money.

Here are some links to help you set up and understand a budget. Take active control of your money - start with a budget.

Budgeting Help: Decide before act | New articles
Setting up a budget is a vital step and ~y important tool to ensure that you are living your financial life for that which is less than the defined standards and on the right track. Budgeting help is a self-same wide term that should be ...
Publish Date: 06/25/2010 14:09
http://fotoday.net/archives/1783-budgeting-help-decide-before-act.html

In The Trenches - Budgeting for Financial Survival and Recovery ...
Interactive link for sharing stories, ideas, and experiences for dealing with personal finances, frugal living, budgeting, or financial crisis and fighting for financial survival and improvement. ...
Publish Date: 06/25/2010 15:40
http://inthetrenches2009.blogspot.com/2010/06/on-location-dream-of-home-takes-shape.html

Creating a Family Budget 101 | Identity Theft Secrets
The good news is that as you eliminate debt your excess funds will increase and you will get to make new decisions about what to do with excess funds.
Publish Date: 11/29/2009 18:32
http://www.identitytheftsecrets.com/creating-a-family-budget-101

Review different budgeting strategies and take control of your money.

Quotes To Live By

2010-01-04T09:54:00.002-07:00

I came across some quotes the other day that fit in nicely with this blog.

QUOTE:

"If your ship doesn't come in, swim out to it." accredited to Jonathan Winters

When I read that quote I couldn't help but think that he hit the mark dead center.

That's what it's all about!

You can't sit around and hope a fortune is going to fall into your lap...well maybe you can (keep buying those lottery tickets!).

The better approach though, would be to go out and make it happen.

Do your research, make a plan and stick to it.

That's what it all boils down to - simply, take action!

Investment Strategy For Beginners

2009-10-14T11:30:00.000-06:00

You have managed to accumulate some money to invest. Now where are you going to put it? This is important. You don't want to just drop your hard earned money anywhere.

ALL INVESTMENTS ARE NOT CREATED EQUAL

It's true. There are different investment types for different situations. For the purpose of this article we are going to look at 3 very broad investment types. Those being Safe Investments, Medium Risk Innvestments and High Risk Investments, all serve a purpose and have a place in your personal investment portfolio.

SAFE INVESTMENTS

Before we get into safe investments it's important to note that there is no such thing as a 100% safe investment. Investments of any kind carry some degree of risk so when we are talking about a safe investment we are simply meaning an investment with a low level of risk.

So that being said, what is a safe investment? Simply an investment with a low level of financial risk. That means you are not likely to lose you investment principle.

Safe investments would include interest bearing money market mutual funds, Government backed savings bonds or any investment that is locked in for a specific length of time at a specific, guarenteed rate of return, such as a GIC.

MEDIUM RISK INVESTMENTS

A medium risk investment will obviously carry more risk to your investment capital than the safe or low risk investments.

The medium risk type of investment would include mutual funds that have a fluctuating share price. The value of this type of investment would move based on external factors such as political unrest, natural disasters, the economy in general.

Your capital however, is relatively safe since it is held as part of a multi-million dollar mutual fund. You can however lose money. As the share price drops so does the value of your investment. On the other hand, as the share price raises so does the value of your investment.

Mutual funds tend to move slower than stocks so you should have time to exit out of an investment if you decide you are going to lose money. Vigilance is the key.

HIGH RISK INVESTMENTS

There are many different types of high risk investments out there but for the purpose of this aricle we will stick to stocks.

When you invest in the stock market you are investing in individual companies. You purchase shares of a company. The value of that share will fluctuate depending on the success or failure of that company. You have no control over the running of that company (except for the number of votes your shares entitle you to!).

The value of the shares you own in a company CAN drop to $0.00 - and fast! You can also realize gains of several 100% if you choose wisely (and all the stars are lined up correctly, you sleep with a horseshoe under your pillow and eat 4-leaf clover salad regularily!). Needless to say, the risk involved in investing in the stock market directly is high.

YOUR INVESTMENT STRATEGY

As I mentioned at the beginning of the article there is a place for all the investment types in your portfolio.

Start by thinking of your portfolio as being in the shape of a pyramid made up of 10 bocks. So you would have 4 blocks on the bottom row, then 3 blocks, 2 blocks and finally 1 block on the top row. Now give each block an equal value - say $100 - making your pyramid worth a total of $1000.

In order to achieve maximum returns with minimum risk you need exposure to all three investment types. The pyramid you create will help you manage your risk.

     Bottom Layer

Your bottom layer of the pyramid needs to be the strongest layer. It's the foundation everythings else is built on so make it strong. Fill the bottom 4 blocks with safe - low risk investments.

     Layer 2 & 3

The next layer sits directly upon the foundation layer. It consists of 3 blocks. The layer above it consists of 2 blocks. You can fill these 2 layers (or 5 blocks) with medium risk investments (mutual funds). Remember to do your research and choose funds that are increasing in value based on the external factors at play.

     Top Layer

The top layer of your pyramid consists of a single block. This block can contain your high risk (stocks) investment. It should also contain an amount of money you are prepared to lose should the stock your invested in drop to nothing.

By following a pyramid structure for your investment portfolio you are limiting your risk while maximizing your profits. You have a strong base (40%) of your investments in something that is growing slowly but is relatively safe. The middle of your pyramid (50%) is invested in medium risk mutuals which is providing slightly more aggressive growth with the possibility of some ups and downs but over the long term should provide decent returns. Finally, the top layer (10%) is dabbling in the stock market, looking for some big returns but at a much greater risk.

This is just one possible example of a pyramid. If you are a more conservative investor you could have the base and next layer (70%) invested in low risk investments, (30%) in medium risk investments and nothing in the high risk stocks. The mix is up to you but I suggest you have at least the base layer in low risk investments and never more than the top 2 layer (3 blocks) in the stocks. This will help keep your investment pyramid growing and relatively safe.

Invest in one pyramid at a time. It may help to draw it out on paper and fill in the blocks as you go. Each block will be worth $100 making each completed pyramid worth $1000. When you have one pyramid finished start another.

When you start to see returns on your investments you should realocate your money. Change the value of each block to ... say ... $150. Start over at the base and increase each block to $150. Do this about once a year or more often if your high risk investment is really putting out for you. Remember to fill the bottom layers first and keep your high risk investments to between 0 - 30% of your pyramids value.

Investing can be fun but remember you have some goals. You want to make money! Don't allow yourself to be invested to heavily in any one area. Invest in different mutual funds and stocks or interest bearing investments and keep a close eye on how your investments are preforming - you may need to make some changes.

I said it before but it bears repeating : Vigilance is the key!

Frivolous Spending

2009-10-01T12:26:00.002-06:00

Part of becoming financially independent is keeping more of your money in your own pocket. It's actually easier than it seems.

Now I realize that everyone has 'wants' (things that aren't necessary for survival). But don't let those wants disrupt your financial plan.

As a teen facing the pressures of school and friends you probably have a list of items you want. Like a new cell phone, the latest CD or movie and don't forget the brand name clothes, just to name a few things. That's great. Just because you want to become financially free (another way of saying 'wealthy'), doesn't mean you have to give up those frivolous items. You do need to be smart about it though.

Plan Ahead

You know you are going to want the extra things so plan ahead for them. You should already be saving a portion of your money for investing purposes - don't dip into that money! Find the extra money from the money left over after you save your designated portiion. Here is an example:

Lets say you make $200 per month at a part time job. You have decided you will save 50% for investing in the future - so you put $100 into your savings account. That leaves you with a $100. Of that, you figure about 50% ($50) will go to pay general expenses (time spent with friends, snacks, movies, etc.) That leaves you with 50% ($50) for frivolous items.

Now your extra $50 is probably not going to buy you that item your looking at so you are going to have to save up for it. Take your extra $50 and put it into another savings account. Call this account your 'Frivolous' account. Do this every month. Put the money you have left over after you pay the general expenses into your frivolous savings account.

Over time you will accumulate a sizeable amount of money that is designated for frivolous spending. That way you won't be tempted to dip into your investment account and you won't feel like you are sacrificing anything by taking out of you general expenses money.

Shop Smart

By putting off your purchases until you have the cash in your account you are helping yourself in two ways.

First - You have the money. You don't have to worry about borrowing it from someone else or skimming from your investment account and you still have your regular amount for general expenses.

Second - The cost of the item you want to purchase may actually be less than it was when it first came on the market. Often when new products first hit the market they are priced high. A couple months later, after the initial rush is over, the price will start to drop or the item may start coming on sale.

Another good reason to wait is that it will curb impulse buying. When you have time to sit back and think about it you may decide that you don't really need that item. Or you may decide that there is a similar item at a cheaper price that will do just as well.

Being financially independent doesn't mean you have to give up the things you really want. It means you have to develope a different attitude when it comes to making purchases.

A Whole New Attitude

Gone are the days of impulse buying. Now you save money to make your larger purchases. You wait until the initial rush is over before buying new products. You shop around for the best price and look for sales. You give yourself time to decide if you really want that item or if your are just following the fad. Sounds like a smart shopper to me.

Some people may argue that if you are buying frivolous items then you are taking away money that could be used for investing. They are right! The more money you can put away to invest now - the faster your wealth will grow. However, when you deny yourself the frivolous things, then saving money becomes more like a punishment and you are less likely to stick to it.

It is more important that you learn to control your frivolous spending by stopping the impulse shopping. Give youself time to think about why you want that item. Then wait until the price drops and if you still want the item then make your purchase.

Growing your wealth should not be a punishment. At first it may seem like you are giving up all the extras and you may think you are suffering but give your plan a chance. Once you get into the habit of saving for investing and saving for frivolous stuff your bank accounts will start to grow. That is a good feeling.

As your savings start to increase you will notice the amount of interest you earn every month will start to increase as well. That's a really good feeling.

Stick to your plan and try to throw a bit extra into your investment savings account once in a while. It won't take long for your wealth to start growing.

The Magic of Compound Interest

2009-09-22T22:59:00.000-06:00

Compound interest is the magic ingredient in any financial plan. But what exactly is compound interest?

Compound interest is interest paid on an investment; that interest is then added to your original investment (reinvested) and earns interest thereby earning you interest on your interest. This is very powerful stuff especially if you get paid interest every month.
Here is an example:

You make a lump sum investment of $5000 and receive 10% interest compounded monthly (every month your interest is added to your initial $5000 thereby becoming available to earn interest) this is what your investment will look like in:

10 years = $13,535
20 years = $36,640
45 years = $441,770

Now the key to the whole thing is to keep adding your interest earned back into your savings account so that it can also earn interest. Most investment and savings accounts will do this automatically but be sure to ask and make sure.

In todays markets you'll be hard pressed to find a savings account (mutual, bond or otherwise) that will pay 10% interest. Don't let this be an excuse for not saving. Shop around and find an account with a high interest rate that is compounded regularily. FYI - those fractions of a percentage point make a difference!

Remember to research, research and research some more. Go online to your bank site then armed with a general understanding of your options head into the bank and talk to an account manager.

You're going to find that most of the high interest accounts won't be available to you because of your age (assuming you are a minor). Keep researching. Find the account you want to place your money into. Make sure you have a VERY good understanding of how that account works and the risks involved then go see your parents.

Prove to your parents that this is the best place for your money. Show them that you know what you're talking about. Show them your savings stragety.

Maybe ... just maybe ... they will consider opening that account for you 'in trust'. That simply means that the account is in both your name and the name of your parent(s). They have the control over the account which will be turned over to you when you reach the age of majority. Of course, there is a bit more to it than that but if you think it may be an option then you know what to do ... research!

A quick recap:

Compound interest is the key to any successful financial plan
A fraction of a percentage point makes a difference
The more often your money is compounded the better
Use your parents to open a 'trust' account if it is best for you

Just as a reminder of the last post - what you do with your money is YOUR decision. Be 100% sure before you act because there is no one to blame but yourself.

Here is a link to an online compound interest calculator. Use it to try different scenieros. Search 'compound interest calculator' online and explore some other calculators and learn more about how compound interest is calculated. Your bank site may even have a compound interest calculator there.

Research The Banks

2009-09-17T15:13:00.000-06:00

Informed decisions can only be made through research. Research is the key to everything and when it comes to your money you can't be lazy about it.

If you've been following along with this blog then you have already put into action some of the strageties for saving money and you are starting to accumulate some coins in your piggy bank. Now is the time to start thinking about what you are going to do with those coins when you finally open your piggy bank.

You need a savings account at one of the local banks. I know what you're going to say - 'I already have one' - but is it the best one for you? Don't answer that! Do your research first then give an informed answer.

All the banks have the same general purpose - that is to house money. Their business is money. They lend it to people who need it and store it in a safe environment for everyone else. BUT - all banks are not created equal. Remember that!

So how do you go about researching banks? Start in your home town (since that is where it will be easiest to do your banking). Go into the bank and ask for information on their savings accounts that would be available for you. Get pamplets and flyers, etc. Do this for every bank in town.

Go home and review all the information. Go to their websites and research some more about the account options. Pay particular attention to the differences. Make a check list of everythng one bank offers then compare it to the other banks. For example your list may look something like this:

Description of Service Bank #1 Bank #2 Bank #3 Bank #4

interest rate
insurance
fees
accessability
locked in
etc.
etc.
etc.

When you have a comprehensive, detailed comparision sheet made then you can make an informed decision about which bank and account type is best for you.

It is very important that YOU make the decision - no one else. This is your money that you want to save. You are the one that stands to benefit (or loose!) from your decision. So research, research and then research some more, until you are comfortable with the decision you made.

From this point on you, and only you, are responsible for the decisions you make. If you make a good decision you will take all the credit and reap the benefits. If you make a bad decision ... well ... you only have yourself to blame.

NOW answer the questions - 'Do you have the best savings account you can get?' and, 'Are you comfortable putting your piggy bank money into that account?'. If you answered 'YES' to both those questions then open the account and start saving.

The Company You Keep

2009-09-07T18:50:00.000-06:00

Are you familiar with the phrase, 'you are what you eat'? I'm sure everyone has heard that said at least once. Probably by your parents when you're diving into the potato chip bag. The general meaning of the phrase is, if you eat healthy foods you will be healthy but if you insist on constantly eating 'junk' food then you will not be as healthy.

The same idea applies to the company you keep. Really. If you are constantly in the company of people with little or no ambition to improve themselves then you will struggle to find the motivation to improve yourself. On the other hand (this is the one you should be paying attention to!) if you surround yourself with successful people and people who are constantly working to improve themselves then you will be more inclined to better yourself. What do you think of that theory?

You learn from other people in both a conscious and unconscious manner. Sort of like osmosis. Information will begin to be absorbed by your subconscious. The brain then filters that information through into your everyday activities. So wouldn't you like to be surrounded by positive, productive information rather than the negative 'I can't do it!' type?

As a teenager you don't have a whole lot of control over who you associate with. You go to school and are in a classroom situation where you are in close contact with teachers, aides, parents and other students. But you can still take some control.

It doesn't take long to figure out which kids in the class are the slackers and which are the workers. The workers are the kids you want in your social group. They take their education seriously and they are the kids that will go on to make something of themselves in the future. These are the kids with the million dollar attitude even if they don't realize it yet.

Don't just limit yourself to school. Find successful, ambitious adults and work your way into their circles. For example, if you are looking for a summer job look for employment with a successful entrepreneur and try to place yourself close to your boss. Ask questions and learn. Remember, your boss didn't become a boss by sitting in the back of the classroom, learn from his/her example.

There is so much information surrounding us and most of it is free for the taking. Surround yourself with knowledgeable, ambitious people and start gleaning some of that information. Learn from the examples of others.

The company you keep could make all the difference.