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Listen To Certified Financial Planner Tonight, On Donell Edwards: VIEWPOINTS

How To Maintain Or Take Control Of Your Finances

Shannon Ryan
Certified Financial Planner, Founder of The Heavy Purse

In our continuing celebration of Financial Literacy Month, tonight’s program discusses How To Maintain Or Take Control Of Your Finances.  During this program we will discuss the importance of a realistic budget, understanding credit and credit scores, the correct approach to spending, and avoiding and getting out of debt.  Our special guest is Certified Financial Planner, author and speaker, Ms. Shannon Ryan.

Shannon has two decades of experience helping individuals, families, and businesses become financially confident.  She has spent her entire professional career helping real people make sense of their money.  She has been in the trenches with people as life happens to them, giving her invaluable hands-on experience and insight.  As a result, she’s learned that how you think about money is the key to financial success.

Join us for this very insightful program about the way we think about money, and the way we should think about it, and how we may do a better job of maintaining control or taking control of our personal finances.

Listen LIVE Monday – April 9th at 6:30 PM CDT at – http://tobtr.com/10710683

Establishing and Protecting Your Credit

Donell Edwards Publisher, Writer, Speaker

Donell Edwards
Publisher, Writer, Speaker

About Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.

 

 

 

 

Know Your Money
Thursday – October 13, 2016

Establishing and Protecting Your Credit
By Donell Edwards

I was recently contacted by ConsumerAffairs.com informing me of a comprehensive article they have published on how to establish and protect credit.  After reading this article I wanted to share it with our readers.

Here are some of the contents in the article:

  • Why good credit matters
  • How to keep good credit
  • What to do if you have bad credit
  • When to start building credit
  • 4 ways to start building credit if you are under 21
  • Things that don’t help your credit score

 

Woman With Credit Card Bills

 

This is a must read for everyone interested in learning how to build and maintain good credit, and to understand the many benefits of good credit, as well as the adverse effects of bad credit.

Read the article at https://www.consumeraffairs.com/finance/how-to-build-credit.html.

 

We Would Like To Hear From You.  Are There Any Brave Souls Out There Willing To Share?  If you would like to share with our readers how “bad” spending habits have affected you, anonymously or otherwise, for our upcoming special, “Confessions Of Spendaholics,” please send your experience to comments@knowyourmoneyglobal.com.

 

Follow us on Twitter for more information about personal money management
https://twitter.com/Kn0wY0urM0ney

Disclaimer:  I have a Bachelor of Business Administration degree but I am not a financial planner. However, I have acquired years of knowledge about personal money management through my life experience working through my own personal finances that allows me to share that knowledge with readers of Know Your Money. The Know Your Money Blog posts written by me are my own common sense observations and opinions and are for informational use only. Although my blog includes contributions from experienced financial professionals, please make your own financial decisions based on personal research or contact a financial adviser.

Copyright © 2016 CWR Media – All Rights Reserved

Budgeting Is Not Bad

 

Lionel Shipman Owner - Shipman Consulting

Lionel Shipman
Owner – Shipman Consulting

Lionel Shipman is the owner of Shipman Consulting, a financial empowerment firm specializing in helping people improve their financial outlooks.  The goal of the firm is to educate, motivate, and empower people to maximize their financial lives and build a solid financial foundation. Lionel is also an energetic and engaging motivational speaker and presenter for educational conferences, school events, corporate events, church meetings and other events. Please visit the firm’s website for information at

Website: ShipmanConsulting.com   –   Email address: Contact@ShipmanConsulting.Com

 

 

 

Know Your Money
Wednesday – September 12, 2016

Budgeting Is Not Bad
By Lionel Shipman

I have often wondered why budgeting seems to invoke tension in consumers.  It is such a great tool in helping people and companies operating proficiently with money. However, it is often looked at as a tedious task for many people, even though many corporations depend upon it. Every day, large companies throughout the world function utilizing a variety of budgets for departments such as payroll, purchasing and marketing. If companies and organizations can operate successfully and benefit from using budgets, then surely we consumers can do the same

Planning Budget

What is a budget? A budget is a guide that tells you whether you are headed in the right direction, financially speaking. It is basically a summary of your income and expenses. It helps determine whether your finances will reflect a profit or a loss. It is also a tool used to help you allocate or distribute your income, as it helps you see and understand your current financial outlook or status (how much you make, how much you spend, how much you have, and what you owe). Along with setting goals, budgeting can help you improve your financial outlook.

Every day, consumers worry about making their financial ends meet. Many have accumulated credit card debt and other debts, and they have very little to save for retirement. For many people, when life happens and causes an unpleasant financial situation, they worry and become afraid and stagnant. It happens from time to time. And, it can happen to anyone. Instead of worrying, start taking charge of your finances. You can do something about it, and budgeting is a good place to start. Establishing and maintaining a budget can help you get back on your feet and improve your financial outlook.

Here are five reasons why budgeting works:

  • A budget lets you control your money, instead of your money controlling you.
  • A budget will tell you if you are living within your means.
  • A budget can help you meet your savings goals.
  • A budget frees up extra money so you can use it for truly important things.
  • A budget helps you prepare for emergencies or unanticipated expenses.

Budgeting is not a one-time event in life. Budgeting is a life-time event. It should become a part of your life, for the rest of your life.

 

Follow us on Twitter for more information about personal money management
https://twitter.com/Kn0wY0urM0ney

Disclaimer:  I have a Bachelor of Business Administration degree but I am not a financial planner. However, I have acquired years of knowledge about personal money management through my life experience working through my own personal finances that allows me to share that knowledge with readers of Know Your Money. The Know Your Money Blog posts written by me are my own common sense observations and opinions and are for informational use only. Although my blog includes contributions from experienced financial professionals, please make your own financial decisions based on personal research or contact a financial adviser.

Copyright © 2016 CWR Media – All Rights Reserved

Financial Literacy Month 2015: Commentary

Donell Edwards, Blogger

DONED2014 SmallAbout Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.

 

 

Know Your Money
Thursday – April 30, 2015

Financial Literacy Month 2015
Commentary
By Donell Edwards

Last year I commented on an article that appeared in the Chicago Tribune regarding the fallacy of Financial Literacy Month.  In this article, the writer, Ms. Jill Schlesinger, who describes herself as a former member of the financial planning and money management industry cites her opinions on why the idea of financial literacy education is a fallacy.  She also references a book,“Pound Foolish,” written by Helain Olen, and includes in her article comments from a recent interview with Ms. Olen. 

 

Group of Young People at a Party Sitting on a Couch with Champagne

 

The following is my commentary of Ms. Schlesinger’s article.

Ms. Schlesinger states that when she left the “financial planning and money management business and became a financial journalist, I had hopes that with a clear, easy-to-understand message, I could somehow help inform the masses. While that may be true, my view of financial literacy changed dramatically after I read Helaine Olen’s fantastic book, “Pound Foolish.”

You can get an overview of the book Ms. Schlesinger references through the links above or here.  While Ms. Olen’s book is a behind-the-scenes look into the finance industry from the perspective of a former insider, it is also an attack on the industry and the commercial system.  It must be acknowledged that much of what Ms. Olen says may be true, the financial planning and money management industry may be corrupt, however, her conclusions in regard to the benefits of financial literacy are inaccurate.

Both Ms. Olen and Ms. Schlesinger make the assumption that most efforts to inform and educate the masses about financial literacy and money management are funded, coordinated, and influenced by greedy banks and financial institutions.  Ms. Olen states regarding financial literacy, “it takes an incredibly complex and complicated financial services world, and thrusts all responsibility for navigating it safely on the customer. It presumes that the reason we can’t save is that we lack the skills, and doesn’t even deign to acknowledge the fact that the cost of health, education and housing has skyrocketed as our salaries have stagnated and fallen.”

I agree totally with Ms. Olen’s comment about the spiraling cost of health, education and housing, while  salaries remain stagnant or decrease as factors that make it difficult for individuals to save.  However, this alone does not mean that financial literacy does not help and is not necessary.  It is obvious from Ms. Olsen’s comments that the “financial services world” is “incredibly complex and complicated” that she is talking about investments, stocks, bonds, etc., and not the normal household and personal money management of the average person.  Admittedly for some balancing a checking account or developing a budget may be challenging, but it is not “incredibly complex and complicated.”

Most of the financial literacy programs are designed to work with people on a very basic level in learning how to control spending, prepare and live by a practical and realistic budget, and learn how to save and hopefully eventually invest.  That is not rocket science, but people do need help, they need education. And for those who are really serious and implement what they are learning, it really does work.

The article further states, “But here’s the eye-opener: data indicate that financial literacy simply does not work. Despite millions being spent on financial education projects, people are not that much wiser about the subject. Olen says, ‘Students who study the subject seem to know no more or less than those who do not.’ And plenty of financially savvy people do dopey things with their money all the time.”

Again, to whom is Ms. Olen referring?  Based on those conclusions I guess we should close our schools because students from secondary schools and colleges also do things that are not very smart.  But is this because education did not benefit them, or because of personal choices they made?  Also, Ms. Olen makes all of these comments without providing one single source or citing any study or referencing any data that supports her opinion.

The article further states, “That it doesn’t work should not be surprising, because Olen notes that much of the financial literacy effort is financed by big financial institutions, whose motives may be suspect. Many of these big companies promote their public education projects, while at the same time, continue to sell murky and complicated products.”

OK!  Now we begin to see what is really the driving force behind Ms. Olen’s opinions.  She apparently has issues with the financial planning and money management industry.  No doubt she has seen some things during her career that really disturbed her.  However, that is no reason to attempt to discredit sound programs designed to help educate people about personal money management so that they may be able to improve their lives.

By the way, here are just a few independent organizations and agencies that promote Financial Literacy Month that have nothing to do with the industry:

 

The Financial Literacy and Education Commission
http://www.treasury.gov/resource-center/financial-education/Pages/commission-index.aspx

 

The National Endowment for Financial Education
http://www.nefe.org/

 

President’s Advisory Council on Financial Capability
http://www.operationhope.org/images/uploads/Files/PACFCInterimReport.pdf

 

I do agree with the author about is her conclusion:  “Perhaps one way to celebrate Financial Literacy Month is to acknowledge that you need help from someone who puts your needs first, can separate emotions from the equation and who can guide you through life’s financial milestones.”

That is what Financial Literacy Month is about.  Acknowledging the need for help and acquiring the knowledge and information to do a better job of managing personal finances, and understanding where to seek help and whom to trust.

The role of Know Your Money is not only to be a source of information, but also to provide support and encouragement to those who want to improve their ability to manage their personal finances.

In my studies to become a life coach I learned how to help clients with life issues.  And the most profound aspect of life coaching is holding clients accountable.  What I get from Ms. Schlesinger’s article is that people must do a better job of holding themselves accountable for educating themselves and applying what they have learned.  That is a major issue, accountability.  But there is no fallacy in the idea of Financial Literacy Month.

There is an army of us who devote much of our time and energy to support, encourage, inform, and serve as cheerleaders for those trying to figure out how to do a better job of managing personal finances.  If you would like to know who we are just follow me on Twitter at https://twitter.com/Kn0wY0urM0ney.

Here are the remaining steps to financial wellness from Thirty Steps to Financial Wellness developed by Money Management International.  If you are serious about making progress, or maintaining your momentum in managing your personal finances go through this thirty step program:

Step 24 – Share A Tip for Change

Step 25 – Document Your Desired Spending

Step 26 – Protect Yourself by Performing Financial Check-ups

Step 27 – Understand the Cost Of Credit

Step 28 – Assemble A Financial Team

Step 29 – Appreciate the Benefits

Step 30 – Moving Forward

 

If you have questions or need help we are just an email away.  Send your questions to Info@KnowYourMoneyGlobal.com

 

We Would Like To Hear From You.  Are There Any Brave Souls Out There Willing To Share?:
If you would like to share with our readers how “bad” spending habits have affected you, anonymously or otherwise, for our upcoming special, “Confessions Of Spendaholics,” please send your experience to comments@knowyourmoneyglobal.com.

 

Follow us on Twitter for more information about personal money management
https://twitter.com/Kn0wY0urM0ney

 

Copyright © 2015 CWR Media – All Rights Reserved

Financial Literacy Month 2015: Give Your Vacation A Financial Mission

Donell Edwards, Blogger

DONED2014 SmallAbout Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.

 

To book Mr. Edwards to speak at your next event, contact:
Donell Edwards Enterprises
13111 W. Markham St.
Suite 116
Little Rock, AR 72211
DLEdwards@DonellEdwardsEnterprises.com

 

We’re Celebrating Financial Literacy Month

Know Your Money
Wednesday – April 29, 2015

Financial Literacy Month 2015
Give Your Vacation A Financial Mission
By Donell Edwards

Today’s post is a message to families.  In our post of March 27, 2014 we discussed the impact immediate family and relatives can have on spending.  Getting control of spending is a family affair, it is not something that can be done successfully unilaterally.  However, family members, especially children, must learn to master and apply effective personal money management skills, and must learn their role in contributing to the success of the family’s efforts to have a strong financial foundation.

I ran across a very interesting article yesterday in Forbes online, written by Jane Bianchi, entitled “A Vacation With A Money Mission: The Family Financial Retreat.”  Ms. Bianchi directs readers to the post which originally appeared in LearnVest.

In citing the purpose of the article Ms. Bianchi states, “Given that just 37% of adults say they talk openly with loved ones about money, chances are you’re long overdue for a financial pow-wow of your own.”

 

Vacation

Although you may not feel that using your vacation as a financial retreat to discuss family finances and how to manage things more effectively would be exciting, I believe you can see that it is a very good idea given that everyone in the family is usually so busy and has different schedules that may make it difficult to get together.

This is a great article for families and for anyone interested in devoting the time necessary to carefully examine their personal finances.

Here is the link to the article:

http://www.forbes.com/sites/learnvest/2015/04/28/a-vacation-with-a-money-mission-the-family-financial-retreat/

 

Here is today’s step to financial wellness from Thirty Steps to Financial Wellness developed by Money Management International:

Step 23 – Save Money On Groceries

 

EVENTS AND RESOURCE LINKS:

Hosting A Financial Literacy Month Event

2015 National Savings Forum

Financial Literacy Month Articles from Huffington Post 

The FoolProof Foundation

FoolProof Teacher

FoolProof Solo

 

If you have questions or need help we are just an email away.  Send your questions to Info@KnowYourMoneyGlobal.com

 

We welcome your comments and encourage you to share your knowledge about personal money management and financial literacy.  We hope to be a conduit for others to disseminate information on this subject to promote financial literacy and to enhance knowledge and understanding of the subject.  If you have comments you would like to share please send them to: 

Comments@knowyourmoneyglobal.com.

 

Follow us on Twitter for more information about personal money management
https://twitter.com/Kn0wY0urM0ney

 

Disclaimer:  I have a Bachelor of Business Administration degree but I am not a financial adviser. However, I have acquired years of knowledge about personal money management through my life experience working through my own personal finances that allows me to share that knowledge with readers of Know Your Money. The Know Your Money Blog posts written by me are my own common sense observations and opinions and are for informational use only. Although my blog includes contributions from experienced financial professionals, please make your own financial decisions based on personal research or contact a financial adviser.

 

Copyright © 2015 CWR Media – All Rights Reserved

 

Financial Literacy Month 2015: Defeating Debt

Donell Edwards, Blogger

DONED2014 SmallAbout Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.

 

To book Mr. Edwards to speak at your next event, contact:
Donell Edwards Enterprises
13111 W. Markham St.
Suite 116
Little Rock, AR 72211
DLEdwards@DonellEdwardsEnterprises.com

 

We’re Celebrating Financial Literacy Month

Know Your Money
Tuesday – April 28, 2015

Financial Literacy Month 2015
Defeating Debt
By Donell Edwards

One of the most important steps in financial literacy is understanding debt.  How much debt one has, where it came from, and how to eliminate it.  It should be your goal as you become more financially literate to be debt free.

I share with you today an article written by a blogger named Brian who shares his personal experience with getting out of debt.  The article is entitled, “How to Kill Over $100,00 of Debt,” and appears on the Moneythink website.   Brian and his family eliminated $109,ooo in debt in a little over four years.

A great point to take from the article is that getting out of debt takes time; you didn’t get into debt in a day or a short period of time, and you won’t get out of debt without making a commitment for the long haul.

Here is one of the most profound things that Brian learned, “…what I found was that most personal finance principals are commons sense. You need to have a plan for your money in the form of a budget; spend less than you make; create an emergency fund; and prioritize needs over wants.”  These are the same things that we emphasize in this blog, helping people to act on these things is the challenge.

We strongly encourage that readers review this article.

Here is the link to the article:  http://moneythink.org/blog/kill-100000-debt/

 

 

 

Here is today’s step to financial wellness from Thirty Steps to Financial Wellness developed by Money Management International:

Step 22 – Identify Ways to Reduce Spending

 

EVENTS AND RESOURCE LINKS:

Hosting A Financial Literacy Month Event

2015 National Savings Forum

Financial Literacy Month Articles from Huffington Post 

The FoolProof Foundation

FoolProof Teacher

FoolProof Solo

 

If you have questions or need help we are just an email away.  Send your questions to Info@KnowYourMoneyGlobal.com

 

We welcome your comments and encourage you to share your knowledge about personal money management and financial literacy.  We hope to be a conduit for others to disseminate information on this subject to promote financial literacy and to enhance knowledge and understanding of the subject.  If you have comments you would like to share please send them to: 

Comments@knowyourmoneyglobal.com.

 

Follow us on Twitter for more information about personal money management
https://twitter.com/Kn0wY0urM0ney

 

Disclaimer:  I have a Bachelor of Business Administration degree but I am not a financial adviser. However, I have acquired years of knowledge about personal money management through my life experience working through my own personal finances that allows me to share that knowledge with readers of Know Your Money. The Know Your Money Blog posts written by me are my own common sense observations and opinions and are for informational use only. Although my blog includes contributions from experienced financial professionals, please make your own financial decisions based on personal research or contact a financial adviser.

 

Copyright © 2015 CWR Media – All Rights Reserved

 

Financial Literacy Month 2015: A Call To Action

Donell Edwards, Blogger

DONED2014 SmallAbout Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.

 

To book Mr. Edwards to speak at your next event, contact:
Donell Edwards Enterprises
13111 W. Markham St.
Suite 116
Little Rock, AR 72211
DLEdwards@DonellEdwardsEnterprises.com

 

We’re Celebrating Financial Literacy Month

 

Know Your Money
Friday – April 24, 2015

Financial Literacy Month 2015
A Call To Action
By Donell Edwards

As we approach the end of Financial Literacy Month 2015, it is time to take action if you are really serious about getting your finances in better condition, regardless of your station in life.

We have covered much over the past three and one-half weeks, and there is more to come next week.

I highly recommend the Money Management International Thirty Steps to Financial Wellness program as a means of starting and successfully maintaining your personal money management.  If you already have your finances in good condition, this is still an outstanding program to implement to review what you are doing and to improve on your efforts.

If you have been following our blog on a daily basis you know that some of the program may be easily implemented, while other elements involve time and effort and may take longer, some even being done on a continuous basis.

So, don’t be overwhelmed.  Make the commitment to do whatever it takes.  Stick with this program and make it work for you.

Check back a year from now on your progress and you will be surprised how far you have come.

One of the very important things I want to focus on to day is making sure that you are already saving, or that you are working toward saving on a regular basis, and that you know what your best options are for saving.

 

 

Businesswomen Balancing Over Money

 

We have provided some great information in past posts on this blog about saving.  One method that I particularly like is the 52 Week Savings Plan.  This plan helps develop the habit of saving by starting out with only a dollar a week and increasing the amount in increments of one dollar each week.  You may learn more about this method if you are not already familiar with it clicking on the link in this paragraph.

We also provided options on where to save in our blog post of May 16, 2014, Making The Most Of Your Savings.  You may read that post here.

I am aware that some reading this blog may have challenges that make it very difficult or even prohibitive for them to save at this time.  I encourage you not to give up and make it a goal to do all of the things necessary to get into a position where you can save.  How do you do that?  In the credit.com blog post, “10 Ways to Save Money When You Make the Minimum Wage,” there are many suggestions to help you.  Just click on the link above to read the article.

My challenge to you is to make the most of this Financial Literacy Month and start making money smart decisions, use the Money Management International Thirty Steps to Financial Wellness plan, and make sure that start or continue saving.

 

Here is today’s step to financial wellness from Thirty Steps to Financial Wellness developed by Money Management International:

Step 20 – Identify and Plan for Periodics

EVENTS AND RESOURCE LINKS:

Hosting A Financial Literacy Month Event

2015 National Savings Forum

Financial Literacy Month Articles from Huffington Post 

The FoolProof Foundation

FoolProof Teacher

FoolProof Solo

 

If you have questions or need help we are just an email away.  Send your questions to Info@KnowYourMoneyGlobal.com

 

We welcome your comments and encourage you to share your knowledge about personal money management and financial literacy.  We hope to be a conduit for others to disseminate information on this subject to promote financial literacy and to enhance knowledge and understanding of the subject.  If you have comments you would like to share please send them to: 

Comments@knowyourmoneyglobal.com.

 

Follow us on Twitter for more information about personal money management
https://twitter.com/Kn0wY0urM0ney

 

Disclaimer:  I have a Bachelor of Business Administration degree but I am not a financial adviser. However, I have acquired years of knowledge about personal money management through my life experience working through my own personal finances that allows me to share that knowledge with readers of Know Your Money. The Know Your Money Blog posts written by me are my own common sense observations and opinions and are for informational use only. Although my blog includes contributions from experienced financial professionals, please make your own financial decisions based on personal research or contact a financial adviser.

 

Copyright © 2015 CWR Media – All Rights Reserved