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Job Search? Taxes? Budget? Your Guide to the Real World

Are you living on your own for the first time?  Are you looking for your first real job?  It’s a good feeling, but it can seem a bit overwhelming at first. Maybe you’re just out of college and trying to figure out your student loans.  Or maybe you’re trying to figure out what all of this paperwork and tax forms ‘really’ mean.  Even something that seems as simple as establishing a budget for the first time can be a bit tricky.  This guide is about those basics, consider it the ‘Real World Survival Kit: Volume 1.’ Maybe in Volume 2 we’ll talking about marriage, kids, buying minivans and going to Bed Bath & Beyond or Home Depot with your spouse on the weekends…

Check out the course below or click here download the entire course as PDF for use offline.

Guide developed by Visa and hosted on whatsmyscore.org. Check out the website for more useful stuff.

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Mint.com: Free Money Management Software & More

As we get older our financial lives becomes more complex and more difficult to keep track of. There are many tools available to help manage your money–some are free, some aren’t. I’m a big believer that you can get most, if not all, of the tools you need for free.

A free option for money management is Mint.com’s personal finance software. Once setup, it pulls all of your financial information into one place making it easier to understand your situation and make better financial decisions. Mint even has a free application for smartphones that allows you to stay on top of your finances wherever you are. The goal is to make money management easier and help you reach your financial goals. Security is an important factor, so Mint.com uses similar encryption to banks as well as VeriSign and TRUSTe verification. Additionally, Mint.com is only a tool to view and understand you financial data–money can’t be transferred with it.

If you could use a tool to help manage your money, develop a budget, track investments and get back on track with your financial goals, Mint.com is probably the best free option out there.

Check out Mint.com

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Your Key to Financial Independence: Understanding Net Worth

What is Net Worth?

A brief introduction to net worth.

Net Worth Planning Process

Net worth is determined by subtracting your liabilities from your assets.  The product is a real assessment of your current financial situation.  Net worth and cash flow are the cumulative result of all financial decisions that we make.  The net worth calculation provides a wealth of information that can be used to establish goals and develop a planning strategy.

Calculating Net Worth

Calculation of net worth can be done with a variety of tools. Though many tools exist, they all must involve the essential concept of subtracting liabilities from assets.

Net Worth Goal Setting

Net worth allows us to assess our current financial situation and allows us to set short and long-term goals based on solid data.  Setting annual net worth goals is an effective strategy, but the results will only be as good as the process and the data involved.  When setting net worth goals, it is important to be realistic.

Developing a Net Worth Plan

Developing a net worth plan may seem intimidating, but the process is relatively simple. Subsequent evaluations become much easier as organization and proficiency increases.

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Personal Finance: Money, Credit, Debt & Homeownership

This section covers money management, budgeting, loans, debt, savings, homeownership, family finance, bankruptcy, foreclosure, and credit.  The website is managed by a nonprofit organization called Money Management International (MMI), which offers financial counseling, education, workshops, and debt management/consolidation. In addition to the below, there are other useful sections of the site like Ask the Experts, various media, quizzes, and more.

Below is a link to each financial education section as described by MMI on their site.

Family Finances

Learn how to set a foundation of good personal finance skills—no matter what stage of life you’re in.

Homeownership and Home Loans

Learn more about buying, financing, maintaining, and protecting your largest asset.

Loans and Debt

If you want to control your money—rather than allowing your money to control you—it is important to learn how to manage your loans and debt.

Savings

Adequate savings is the cornerstone of financial security. Learn how to protect your financial future by saving for both goals and emergencies.

Credit Reports and Credit Scores

Good credit is an asset. Learn how to establish or reestablish your creditworthiness. Also learn how to ensure that the information in reports is accurate.

Bankruptcy

Read tips that are helpful before, during, and after filing. Also learn how to meet the bankruptcy counseling and education requirements.

Earn More

Earning more money is not nearly as hard as it sounds. With a little planning, earning more can certainly be within your reach.

Love and Money

Becoming a couple changes your financial situation. Find the resources you need to stay committed to successful financial planning together.

Youth and Money

It is never too early to start teaching young people the financial skills they will need for life. Find the resources you need to raise children to be financially successful adults.

Money and Budgeting

Knowledge is the key to successful money management. Our resources are designed to inspire and assist you as you begin to make positive changes in your financial life.

Financial Crisis

A financial crisis can be devastating. If you are facing a financial setback, it is time for planning, not panic.

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Financial Planning for High School Students

The National Endowment for Financial Education (NEFE) put together this comprehensive financial planning program to teach high school students how to better manage their money.  The main course page is here and each section can be accessed below.  Programa en Espanol.