As mentioned in the previous article on banking basics, society is too caught up in mainstream ways of thinking that they end up missing better opportunities! The same way you can find better banking and saving opportunities, you can find better products and services in general. What all of these things have in common is research, research, and research. Before you purchase another service or product, check out these research tips below.
Before you purchase another product or service, make sure you research online about the quality and price. This step is highly advised, because it makes a world of difference when comparing your options. When you research on websites like google.com, amazon.com, ePinions.com, Znet.com, Cnet.com, and more, you save yourself time, frustration, and money! Who wouldn’t want to do that? Even sometimes ebay.com has better deals than major retail stores.
If you’re not in your own corner, who will be? Get an idea about the quality of the product and/or service you are seeking and an idea of a roundabout price for it first. A little research never hurt anyone.
A lot of times, we as a nation are unable to look outside mainstream products and services. We tend to end up missing better opportunities for ourselves and our family when we follow the crowd, or “do as we are told”. One of the things that America struggles with is finding a secure bank or “cheap” bank to put our money in. Putting your money in a “safer” and “free” place is to your best interest.
Joining a Credit Union can help avoid outrageous bank fees and limitations of how much money you need to have in your own account. Banks are notorious for finding a reason to nickel and dime you, and most times there are penalties and fees. This, most times, is due to the fact that banks make money off of your money by lending it out to others through loans; how unfair is that?! Sometimes a credit union may be available through your employer, your state, or your school, like Georgia’s Own Credit Union and The Delta Credit Union with Delta Airlines.
Wouldn’t it be nice to hold on to ever cent that you earn instead of handing it over to someone else? Why be charged to save money and earn money? If you follow these steps, you will be on a better track to becoming financially fit!
Well I’m back in school and I’m loving it (no this is not a McDonald’s commercial)! I just love learning and I love it when my learning increases my earning potential. This photo is of the books I am using for my Java Programming course. I will be a certified Java Programmer after I finish the class and take the exam.
Are you wondering why I’m taking Java programming of all things? Welp, it’s for a couple of reasons. First because it’s the foundation class for the mobile application development course I’m going to be taking. Second, because it’s FREE!!! Yep, I said free. I’ll get to how that’s possible a little later. But first let me answer why I’m taking this class after I’ve published a book which should increase my earning potential.
I’m an IT Geek So I Say It Loud and Proud!
I love ideas, I love graphic design, and I love technology. I’m an IT (information technology) professional in real life so this is a perfect fit for me. I will be designing mobile applications (the kind you have on your smart phone) once I complete the course. Developing mobile apps will make me giddy with happiness because it combines all the things I love. Plus, I get to earn a pretty penny (or lots of pennies) on top of that.
The Earning Potential is Phenomenal
How much? Well let me put it this way; it is rumored that ESPN paid $100k to get their Fantasy Football app created. That is not chump change. The average app cost anywhere from $5,000-$10,000 to be developed. This is for a custom app. So for me, the earning potential runs in the six-figures if I develop apps for medium to large companies. If create my own apps the earning potential is greater because I get all the profits. Some app developers are earning millions…you remember Angry Birds don’t you?
How I Get to Go to School for Free
I am confident my education will pay off in huge dividends. The best part is I get to go to school for free. I bet you were waiting for that part. Well a few months ago I wrote about losing my job. I was out of work for a year and collecting unemployment. Each week I had to submit my report so I could get the check. One day I was on the DOL (department of labor) website and decided to look into training.
I called the office and got information about the WIA (Workforce Initiative Act) training programs. I was told I may be eligible for the program and to show up at the designated place at the designated time for an information session. I went and had to complete paperwork as well as turn in other information.
That was in June or July of this year. I was told it would be a while before I knew if I was accepted because funding had to come in from the State. Getting accepted into the program meant I could choose a school and the State would pay all expenses including books and certification exams. The point is to get people on unemployment back to work by upgrading their skills.
Back in School for a Short Time to Earn More Money for a Lifetime
Long story short….I got accepted into the program. I chose the school I wanted to attend and started more paperwork. The school I chose encourages their students to start their own business so they have a session to teach and provide entrepreneurial skills. So here I am, back in school for about a 4-6 weeks to learn Java programming and mobile app development. I will get my certification and begin a new career path that will net me more money as I continue to journey toward financial freedom.
The moral of the story? Never stop learning!
Are you back in school? Do you have a technical certificate or degree?
How do you plan to increase your earning potential in 2013 and beyond?
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
Everyone, at some point in their life, will have a “rainy day”. For those who are unfamiliar with the phrase, it means a day or time period where one comes across times of unexpected financial troubles. It is always a good idea to save money for times that you cannot foresee from now.
The first step to preparing your rainy day fund is to have a savings plan for emergencies. It’s hard to predict when and where a financial emergency will emerge, and it’s better to be prepared for such occasion. Second, open up a separate account for your rainy day fund. Any spare funds that you receive, whether it’s a tax refunds, raises, a side job, or any extra income, is a good deposit for your newly created account. Third, it’s recommended that you have at least $1,000 to $3,000 in savings, but even if you save $500 it still helps wonders.
Having a rainy day account is very empowering to the soul. It gives you and your family a way out of financial troubles like unemployment for a period of time, or things that need fixing to maintain your life. Saving money also relinquishes stress levels, depression, and anxiety.
Liz Becker joins me to discuss her life after split and how she managed to get a divorce in 3 weeks! But that’s not the best part, Liz shares how she went from near poverty to prosperity because of a few key decisions she made for herself and her son.
Listen in to learn how you can get through the relationship grieving process quicker and move on with your life successfully!
About Liz:
Liz Becker is a Certified Life Coach specializing in divorce and parenting. With her expertise as a Licensed Master Neuro-Linguistic Programming Practitioner, Liz equips her clients with unique tools and techniques to achieve positive change and balance in their lives. In 2007, when her son was just three, Liz herself successfully navigated through her own divorce. As a consequence she now finds great reward in educating people on how to best cope with their own situation, guiding them to be the best parents they can be during one of life’s most challenging times and beyond. By combining her diverse life experience, NLP Training and a firm belief that happy parents make happy kids, Liz has devised a formula that produces consistent results for her international client base. Liz is also certified as a Motivational coach and Social and Emotional Intelligence Coach, and is a member of the International Coach Federation.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
What did you do with that envelope that used to arrive once a year with estimates of your future Social Security benefits? You might have reviewed the information. You may have even filed the statement away as a reference. Now, this powerful financial planning tool is as close as the nearest computer.
“Often, people don’t think of their Social Security statement when thinking of their financial well-being,” says Rod Griffin, director of public education for Experian. “But your statement can be a valuable financial planning tool.”
Your SSA statement is now available online at www.socialsecurity.gov/mystatement. It provides an estimate of the amount of Social Security benefits you could receive upon retiring, but it can also help you with retirement savings strategies, estate planning and making decisions about disability insurance.
Retirement Saving
Knowing how much your Social Security payments will be can help you better understand how much you’ll need to save in other vehicles to fund your lifestyle during retirement. After reviewing your statement online, you may decide to adjust your 401(k) contributions, open an IRA or seek other avenues for funding your retirement.
The statement can also help you work with your current employer to ensure they’re withholding the appropriate amounts.
Estate Planning
Your online statement will also give you an estimate of how much your survivors might be eligible for if you die. This information covers both spouses and minor dependent children.
“This could be useful information when you’re planning how you will financially take care of your loved ones if you pass away,” Griffin says.
Estate planning often involves considering what sources of income will be available to survivors, and knowing how much Social Security benefits yours could be eligible for can help in the planning process.
Disability Decisions
According to the SSA, 62 is the earliest age people can collect a reduced Social Security retirement payment, and the full retirement age is 67 for people born after 1960. But a 20-year-old worker has a three in 10 chance of becoming disabled before reaching retirement age, and the average age of people receiving Social Security disability benefits is just 53 years old.
If you have a health problem that you know will lead to disability, knowing how much you could expect to receive from Social Security may help you make decisions about how much disability insurance you’ll need.
With the availability to access your Social Security earnings and benefit information online, it’s easier than ever to make use of this important financial planning tool. The SSA uses Experian’s fraud prevention services to securely authenticate and safeguard the identities of people accessing their earnings and benefits information online.
To access your statement, go to www.socialsecurity.gov/mystatement, create an account and provide the information as prompted. You’ll be able to access your benefit information and even see a history of your annual earnings for every year. For more information on how to live financially smart, go to www.livecreditsmart.com. (ARA)
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
Hi! Welcome to RichSingleMomma.com. I started this website almost a decade ago because I couldn't find any blogs back then that helped single moms with money. I was having some success in that area so I decided to share what I knew about side hustles, making extra money, and managing money. Read more...
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