Top Financial Tips for Millennials

Are you a millennial who feels overwhelmed trying to manage your finances? Are you getting the most out of your money? Financial literacy is not often taught in schools and they don’t do a great job preparing their graduates to manage their finances. So when you’re out of college and start real life, it can be a little overwhelming and it is easy to get yourselves into debt and other financial trouble.

Most millennials are currently in their 20s and 30s – a time when many young people are ready to make major financial decisions in their lives, like home ownership, long-term investment activity, etc. If you’re currently a part of this generation here’s your crash course on what you should do to improve your financial wellness:

Take online financial courses
Since most young adults have the propensity for technology it is suggested you take a few basic online courses in economics, accounting, and any other financial topics that may be of interest to you.

Embrace Technology
When it comes down to managing your money there is probably an app. To help you do that. These apps. Can categorize your spending habits and help you manage your spending. These insights can help you save money each month and then transfer that money directly to your savings. Online financial apps can help you make a workable budget for your lifestyle and ultimately change your net worth.

When it comes down to managing your money there is probably an app to help you do that. Mobile apps like Clarity Money can help you track any wasteful spending habits. Digit and Stash can recommend where you can save money each month and then transfer that money directly to your savings. Online financial apps can help you make a workable budget for your lifestyle and ultimately change your net worth.

Examine Your Current Bank Accounts
Are you paying fees? If so, for what? Monthly maintenance and minimum balance fees should never be a fee on your account statement. Free checking accounts, are available, especially at credit unions and these accounts will help you keep more of your own money in your pockets. So don’t settle for anything else.

Build Your Credit and Understand the Impact of your Credit Score
Early on, you may only have a student loan or a credit card on your credit report. But now it’s time to start building your credit. Ask your credit union about a Credit Builder Loan to help jumpstart your credit. And if you already have some active loans, make sure you’re making payments on time every month. You’ll need that good credit history when you want to make big purchases in the future like a car, rent an apartment, or get a mortgage for your first home.

It’s also important to know that if you are planning on opening up a business your personal credit may be the defining factor in your ability to access necessary working capital.

Repay Debt Tactically
Since we are on the topic of credit, a lot of young adults have credit cards with very high interest rates. Focus on paying off those debts first! If possible, transfer those balances to a lower-rate credit card. It’s much easier to pay down debt when more is going toward the balance.

Track everything to obtain your whole financial picture
Just as businesses manage their cash flow, individuals need to do the same by tracking their income, expenses, assets and liabilities. There are many online tools to help you like Mint, Quicken and Personal Capital.

Build an Emergency Fund
Unplanned/unfair/unfortunate events can happen in the blink of an eye. You may get in a car accident, have unforeseen medical expenses or lose your job. That’s why it’s important for everyone to have an emergency fund. The best way is to set up an automatic savings plan where you pay yourself first by depositing a portion of your paycheck into a separate savings account. If you forget it’s there you won’t be tempted to spend it.

Create a Long-Term Savings Strategy
An emergency fund is a short-term strategy, but you also can’t forget the big picture. Does your employer offer a matching 401(k)? If so, be sure to take advantage of that opportunity. It’s fundamentally free money, and it’s an investment in your future.

Get yourself a financial mentor
Even though there is an overabundance of information and apps on the Internet to help with your financial security, it is far superior to pick the brain and bounce questions off a trusted friend or colleague. Their pertinent insights will most likely be tailored to your specific requirements.

Use these financial tips listed above to get your finances on track while you’re still young. You’ve got a bright future ahead – so start now and stick with it. Your financial well-being will thank you! Although these tips are targeted at millennials, they’re useful for all ages.

How to Choose Your Ultimate Shoes That Will Get You Oozes of Compliments a Day

Buying the right shoes is an investment.

An investment in your foot health, but not just!

It’s also an investment in yourself, your look and the presence you project.

Why?

Because the shoes you wear say a lot about you.

They reflect who you want to be and what you want to show the world.

Different shoes will distinguish you,

Redefine you,

Tell a lot without saying a word.

We all know our self-image also depends on what we wear, and we change it,

And we can change how others perceive us.

But how can we find the right shoes to match our feet as well as our nature?

When you buy new shoes:

- Wait until the afternoon to try on new shoes – your feet tend to swell during the day, especially when it’s warm outside.

- Put on the right pair of socks, comfortable enough to wear with shoes.

- Our body is unsymmetrical, and often, one foot is slightly bigger than the other. Buy the shoes that fit well with the bigger foot.

- Always try out both sides, right and left. Finding out, much later that one side fits well, while the other is extremely painful, is not a great idea.

- Walk around. See how you feel. Enough room for your fingers? Check there is enough distance between your longest toe, and the tip of the shoe.

- If you’re not comfortable, do not presume the fit will improve in time. Find the shoes that’ll perfectly slip on your feet and make you feel wonderful from the second you put them on.

- Feel the inner part to check if any stitches or bumps might cause inconvenience, irritations or blisters.

- Test the soles. Are they strong enough to protect your feet? Try walking on solid, rough surfaces to see how resistant the soles are.

So, now that you know how to pick the right shoes without compromising on your comfort, it’s time to pay attention to design.

Here are a few style-selecting tips to add that life-changing presence:

How to choose your ultimate shoes that will double your presence in life and get oozes of compliments a day and remind you how special you are.

- Pick the shoes that will match your look and challenge your personality. Encourage a profound change in your style.

- Choose unique colored shoes that will fit your wardrobe and wonderfully upgrade your overall appearance. Colors add freshness and vibrancy.

- Pick the shoes with that intriguing design. You will probably be the only one wearing them in miles. Careful. Unique shoes draw the attention of complementing strangers in the street.

Prepare for ‘where did you get those.’

- Pick the shoes with quality, strong soles, and soft body, because when you’re comfortable, you’re beautiful.

- Search for hand-crafted shoes and feel proud supporting local manufacturing.

You can’t miss fine craft. Quality radiates with the prestige that declares who you are and what interests you.

- Keep away from overused trends. Purchase shoes you can wear for years.

Safer Cars Does Not Mean Safer Roads

These days, it is pretty standard for cars to include top of the line safety features. These range from rear-view cameras, lane departure warnings, traction control and even blind spot detection.

Driving a safe vehicle can also mean more money in your pocket as drivers can save on car insurance cost. A car insurance company is generally able to provide more affordable car insurance if your vehicle has safety features. However, safer cars do not necessarily mean safer roads across the country.

From January to June, approximately 18,720 people have died on U.S. roads. As a result of a growing economy, people are driving more miles compared to recession level data. Less unemployment means more cars are on the road getting people to and from work and more money for leisure activities. In 2017, Americans traveled 3.22 trillion miles according to the Federal Highway Administration.

Factor in more miles driven along with speeding, drug and alcohol impaired driving and distracted driving and the fatality rate is at an all-time high.

South Carolina leads the nation in traffic fatality rates per miles traveled. In 2017, the state had 1.88 deaths per 100 million miles traveled, which is almost two times the national average. Illinois reported 1,090 traffic deaths.

This trend prompted Governor Rauner to declare August 17 as Traffic Fatality Awareness Day at the Illinois State Fair through a partnership with the Illinois Department of Transportation, the Illinois State Police, Illinois Department of Health, Illinois Secretary of State and Mothers Against Drunk Driving.

States across the country have launched similar awareness efforts like Vision Zero. Vision Zero’s goal is to strategically eliminate traffic fatalities and injuries while increasing safe, healthy and equitable mobility for everyone.

Reducing speed is perhaps the most effective way to reduce the fatalities. Speed increases the distance it takes a car to come to a complete stop. The speed of impact is also directly correlated to the risk of death. The higher the speed of impact, the higher the probability of a passenger dying becomes.

Even with lower speeds, it is hard for police officers to enforce these lower limits. Automated cameras are already unpopular and adding more would also be costly.