Foundations of Finance

Marry Your Business Partner

Marriage is not based only on love and romance, rather it is a business-partnership of two people. Each partner has a different financial history and it is important for you to resolve financial concerns before getting married. Work with one another to improve credit scores and debts before entering marriage so you will not have to face these problems once you are financially aligned.

Many studies have been conducted about married people vs. unmarried people. Each one has found that a person who gets married will accumulate more wealth than a single person. This means that marriage generally has a positive effect on your finances. It only has a negative impact when one partner is financially dishonest or the the couple has constant disagreements.

It is important to establish a financial plan together before getting married. That way you both know what to expect and what you are looking for.

Often businesses fail and partnerships dissolve. This is the same in a marriage that ends in divorce. A common foundation for divorce is debt and financial disagreement. Because of this it is very important to stick to a financial plan you both agree to.

You should plan on reviewing your financial plan together every couple months. This way you make sure everything is going well and you don’t get irreparably off track.

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Inflation Will Impact Your Investments Less

The unemployment rate is high and the economy is looking pretty ugly. As all of this is taking place inflation is sitting and waiting to emerge. Now is the time to prepare for this evil giant to enter. The best way to do this is by converting your liquid cash into sound investments. I want to share with you what I have learned through research on the best available investments.

Contrary to what many think, real estate is not necessarily a market you want to jump into right now. Consider this, thanks to low home prices the fed has dramatically lowered the national interest rate. The problem is potential investors need to consider inflation into this puzzle. As inflation happens the last thing to rise tends to be salaries. This will make paying off that mortgage really difficult.

With inflation it is a good idea to invest in goods and services that are rise with the inflation rate. One item that always seems to do this is gold. Thanks to this trend it a good industry to put your money in.

Another good investing opportunity for any investor living in this economy resides in commodities. A commodity is a product which people will always need regardless of the economy so their prices always increase.

Study your investment opportunities because realistically all that matters is your liquid money being converted to investments.

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The Importance of Home credit score for first time Buyers

             Experts are urging the importance of the consumers credit scores for first time buyers. A score of at least 660 is needed to even qualify for anything. (ThinkGllink.com Jan 09)  Kelly Grant from SmartMoney.com agrees that lenders are looking for at keast 760.  Opinions will vary on how your score needs but in the end your goal for now should be raising your score as high as possible.

            They will look at yor dept to income ratio as well. Keep paying your cards off and saving the dough a priority if you want to knock off annoying points off your mortgage!

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Opportunities for Employment

Looking for more opportunities for employment?  Well, in connection with yesterday’s post, here is a list of the top 5 best places to start over. Read the rest of this entry »

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