Microsoft Excel’s Amortization Chart plus other Templates

30 01 2012

Did you know?  Microsoft Excel has a loan amortization chart template, as well as other financial worksheets.  To access these templates, open Excel, at the bottom of the screen where it says “sheet”, right-click, chose insert, then click the tab titled “spreadsheet solutions”.  There you choose which financial form you want to create!  It’s that easy.

These forms are no doubt a great way to begin tracking your finances.  We suggest giving it a try for two months.  They are great because you can store them on your computer and print when needed.





Inflation – How it Affects our Buying Power and Retirement

29 01 2012

Things will cost more tomorrow = Inflation.

No signs of slowing down = Longevity.

  • In 1985 a postage stamp cost twenty-two cents.  Today it rose to forty-five cents. [1]
  • In 1985, $10,000 had the same buying power as $21,054.37 does today. [2]
  • Medical expenses have increased 43% in the last five years alone and will likely increase at a higher rate overall.
  • By the time America’s baby boomers reach to be 100 years old, there could be more than a million centenarians. [3]

The realization of Inflation is scary to many folks.  What we can do is: protect ourselves by saving more.  We should also try to reduce living expenses by following the mantra “I will live below my means”.  If we counter these rising costs with saving more today, we can possibly offset the cost of inflation – though this may not be necessarily true, but we can try today.

With regard to retirement – there is a financial vehicle in place that allows for future retirees to withdraw money from their retirement account tax-free.  This is known as the Roth IRA.  Money deposited into the account comes from taxed earned income.  People can begin withdrawing monies at the age of 59 1/2 or if they are to purchase their first home.  There are other rules/regulations from the IRS here.

Inflation does not discriminate – it affects everyone.

______________________

[1] www.prc.com

[2] www.bls.gov/home.htm

[3] www.abcnews.com, Secrets to Living Longer with Barbara Walters 2008





Word of the Day – 501K [Urban Dictionary]

27 01 2012

When one’s economic situation has become so tenuous that their entire net worth is in the pockets of their jeans.

“Sorry, bro, can’t go golfing today, the wife raided my 501k.”
Thanks Amelia for sharing!
 




U.S. Post Office 2012 Price Increases

24 01 2012

It’s time to adjust our monthly budget for the Post Office price increases.

Highlights of the new single-piece First-Class Mail pricing, effective Jan. 22, 2012, include:

  • Letters (1 oz.) – 1-cent increase to 45 cents
  • Letters additional ounces – unchanged at 20 cents
  • Postcards – 3-cent increase to 32 cents
  • Letters to Canada or Mexico (1 oz.) – 5-cent increase to 85 cents.
  • Letters to other international destinations – 7-cent increase to $1.05

 





Pay off Mortgage in 2012?

23 01 2012

Is paying off your home mortgage one of your New Year Resolutions?  Here are some strategies to push you towards the finish line!

Pay more each month, make extra payments, shrink housing costs, etc.

Read more here.





Inform your Kids about the Dangers of Sharing Passwords

23 01 2012

Parents – it’s time to have a talk with your teenagers.  If you find this article upsetting, you’re not alone!  My hopes are that social media password sharing does not spill into financial password sharing!

This is a great topic of discussion for youth – bring up identity theft, privacy protection, etc.

Source:  http://www.nytimes.com/2012/01/18/us/teenagers-sharing-passwords-as-show-of-affection.html?_r=2&pagewanted=2&hp





Tax Strategies for your Military Transition [USAA]

21 01 2012







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