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A New Day

Know Your Money
Tuesday – January 2, 2018

A New Day
By Donell Edwards

 

The book is closed, the year is done, The pages full of tasks begun. A little joy, a little care, Along with dreams, are written there. This new day brings another year, Renewing hope, dispelling fear. And we may find before the end, A deep content, another friend. – Arch Ward

 

Hello to all of my followers and thank you for your support and patience.  If you have been following my blog for some time, you know that I have not written anything for almost a year.  I apologize for my absence, but I embarked on a new venture that took much more time than I imagined, but it was well worth it.  In March of last year I started my own talk radio show, CWR World News.  The title of that program was later changed to Donell Edwards: VIEWPOINTS.  On the program I interview a wide range of people on various topics with the intent of informing and educating listeners, and in some instances, hopefully changing the attitudes of listeners about social issues that are racially divisive.

After doing the program for several months, I recognized that I had an opportunity to help people through provoking thought and conversation about a number of vital issues and important causes.  However, I understood that I could not accomplish this task by myself, so I started my own talk radio network, The CWR Talk Network, which was launched in October 2017.

One of the causes that I have championed for many years is financial literacy, and one of our programs is The Lionel Shipman $hape Your Finances Show, with host and financial expert, Mr. Lionel Shipman, which is a financial and life empowerment show that focuses on our lives around money and finances.  Lionel interviews interesting guests that include business owners, financial advisors, insurance agents, educators and other professionals that show “how to” improve personal finances in many practical ways, as many of them share their own personal experiences.  The show also provides listeners with useful financial information that will help improve their financial lives and give life lessons to help them live life to the fullest. Listen to Lionel every Tuesday night at 7:30 PM Central and 8:30 PM Eastern time online at http://www.blogtalkradio.com/cwrtalkradio

 

Lionel Shipman Host: The Lionel Shipman $hape Your Finances Show

 

We are in negotiations to add another financial literacy program to complement Lionel’s that focuses strictly on personal finance, from budget planning, to getting out of debt, managing credit, saving, and investing.  Both of these programs will provide professional information about financial literacy, breaking the chain of generational poverty in some instances, and learning how to build wealth.  We hope to premier that program early in 2018.

Also, we have special plans for Financial Literacy Month in April.  Here are some of the guests that will appear on my show, Donell Edwards: VIEWPOINTS during Financial Literacy Month:

Monday – April 2, 2018  –  Everything You Need to Know to Save On Your Taxes
Guest:  Mr. Dean Michael, Chief Executive Officer and Founder of Tax Help MD

Dean Michael
Tax Expert

 

 

 

 

 

 

Thursday – April 5, 2018 – Understanding Medicare and Obamacare, and How They Affect Your Finances
Guest:  Ms. Danielle Kunkle, Medicare insurance expert and founding partner at Boomer Benefits

Danielle Kunkle
Medicare Expert

 

 

 

 

 

 

Monday – April 9, 2018 – How to Maintain or Take Control Of Your Finances
Guest: Ms. Shannon Ryan, Certified Financial Planner, Founder of The Heavy Purse

Shannon Ryan
Certified Financial Planner, Founder of The Heavy Purse

 

 

 

 

 

 

 

Monday – April 16, 2018 – Successfully Overcoming Life’s Setbacks, and Boldly Facing Fears
Guest:  Ms. Betsy Pake, Author, Speaker, and Success Coach

Betsy Pake
Author, Speaker, and Success Coach

 

 

 

 

 

 

 

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.

 

 

Donell Edwards Publisher, Writer, Speaker

Donell Edwards
Publisher, Writer, Speaker

About Donell Edwards: Donell Edwards is President of CWR Media Group which includes CWR World News Talk Radio Show and CWR World News & Information Service, a daily online newspaper.  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

 

Follow us on Twitter and Facebook for more information about personal money management.

twitter-ilike-us-on-facebook

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 © 2017 CWR Media Group – All Rights Reserved

 

 

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The Conversation Everyone Avoids, That Almost Everyone Should Have

It’s Financial Literacy Month.  Do You Know Your Money?

 

Know Your Money
Tuesday – April 5, 2017

The Conversation Everyone Avoids, That Almost Everyone Should Have
By Donell Edwards  

 

According to research conducted by ValuePenguin, an organization that provides objective analysis to help consumers, 38% of American households carry month-to-month credit card debt. The ValuePenguin study also discovered that “Households with the lowest net worth (zero or negative) hold an average of $10,308 in credit card debt.” ( Sources: U.S. Census Bureau, U.S. Federal Reserve, 2013 Survey of Consumer Finances)

A 2016 GoBankingRates.com survey found that 69% of Americans have less than $1,000 in savings, while 34% say they have no savings at all. The survey cites two factors as major contributors to this problem: (1.) “One of the big reasons people aren’t saving more is likely because they are living beyond their means.” And (2.) “… credit cards and other cashless payment options such as Apple Pay have made it even easier to spend.”

Another very enlightening fact was revealed in a 2013 Gallup Poll, which found that “only 32% of American households were sticking to a monthly budget.” Which means that 68% of the population either does not have a budget or fails to stick to a monthly budget.

Alarming statistics like these demonstrate a need for personal finance management skills that many Americans are missing.

 

 

 

Personal finance management affects a variety of areas including a person’s income, family security, standard of living, and savings. Financial planning helps people determine both short and long-term goals in order to create a balanced plan to meet those goals.

As a result of my own personal experience with money management, what I have learned from those experiences, conversations with others knowledgeable about this subject, and research that I have conducted, it has become obvious to me that many people need help with personal money management. That is why I founded this blog, Know Your Money Global (KYM), in 2013 to promote financial literacy and encourage effective money management.

This blog, KnowYourMoneyGlobal.net, was designed to promote financial literacy, provide valuable news and information about personal money management, personal finance, credit, debt management, tax savings and wealth building. The blog encourages readers to create their own dynamic personal cash economy, rather than using the credit-driven economy that so many are accustomed to.

We are dedicated to fostering the concept of a community of individuals, groups and organizations that share our mission of improving financial literacy and effective money management. Because of this, our Know Your Money Global Blog features posts that combine personal experiences with the expertise of industry professionals in order to give readers well-rounded information to take away.

Additionally, we provide periodic check-ups so that readers may evaluate their progress and identify areas where they may need to focus more attention. We also provide information about valuable tools and resources that readers may use in their effort to maintain or improve their money management skills.

Beginning Monday – April 17, 2017, Know Your Money Global will introduce the free 13 week KYM Money Success Strategies Institute. The Institute will provide step-by-step instructions on how to improve money management skills, how to use credit wisely, how to get out of debt, and how to build wealth.

If improving your personal money management skills is important to you, register today for our KYM Money Success Strategies Institute, or if someone you care about needs this information, encourage them to register. To register, go to our Sign-Up Form tab and provide the required information.

There is no better time to start making knowing your money your way of life than now, during Financial Literacy Month.  The KYM Money Success Strategies Institute begins Monday – April 17th.  So sign up right now!

 

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.

 

Donell Edwards
Publisher, Writer, Speaker

About Donell Edwards:  Donell Edwards is President of CWR Media Group which includes CWR World News Talk Radio Show and CWR World News & Information Service, a daily online newspaper.  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

 

Follow us on Twitter and Facebook for more information about personal money management.

twitter-ilike-us-on-facebook

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 © 2017 CWR Media – All Rights Reserved

Important Announcement

Know Your Money
Thursday – January 5, 2017

Important Announcement
By Donell Edwards

Thought for today:  Your best teacher is your last mistake. – Ralph Nader, American political activist, author, lecturer, and attorney. (1934)

 

The Announcement

We previously announced plans as shown above for our Know Your Money Money Management Success Strategies Institute to begin on Monday – January 9, 2017.  Today we are announcing that the start of the KYM  Money Management Success Strategies Institute has been delayed to coincide with the launch of our new live Internet radio talk show, CWR World News, which begins on Tuesday – March 7th on BlogTalk Internet Radio Network.  We will announce the new date for the start of the KYM Money Management Success Strategies Institute shortly after the launch of our talk radio program.

We are making this decision because utilizing the radio platform along with our KYM Blog and other resources will provide participants with a more diverse range of options and tools to develop or improve their money management skills.  Also, Financial Literacy Month is in April, and that is a time when we place great emphasis on personal money management through the KYM Blog.  Furthermore, we would like for this to be your program and delaying the start of the KYM Money Management Success Strategies Institute will allow time for you to contact us and let us know what your greatest concerns are about personal money management and the areas you would like most to learn about.  Just send an email to info@knowyourmoneyglobal.com, or use the comments section on our sign-up form from the sign-up tab on our KYM Blog.

 

Make This Your Resolution for 2017 and Beyond

We know that many people make resolutions at the start of each new year, and we want to encourage you, our followers, to make it your resolution to become more financially literate and astute in managing your money in 2017 and beyond.

Although we have delayed the start of the KYM Money Management Success Strategies Institute, we still strongly encourage you to begin now to work on your resolution to improve your money management skills by doing two things:  (1.)  Subscribe to our KYM Blog if you have not already done so, and begin or continue reading the great content provided.  Just go to the KYM Blog, look in the upper left side of the blog and you will see “Follow Know Your Money via email.”  Enter your email address in the box provided, and click the blue “Follow Know Your Money” submit bar.  That’s all there is to it.  (2.)  Sign-up now for the KYM Institute using the sign-up tab on our KYM Blog to access and complete our sign-up form.  Make the resolution, and follow through.

 

Banking Savings Funds Planning Finance Money Concept

 

Why Are We Doing This?

Before you dismiss this idea and decide that the KYM Institute is not for you, and that you don’t need to make any improvement managing your money, allow me to share something with you.  If you have been following our KYM Blog for some time now, you already know about my background. If you are a new follower, or in case you may have forgotten, I write this blog and develop programs and promote financial literacy because it is personal to me.

I understand that many factors may contribute to a person having money problems, and that does not necessarily mean that person does not know how to manage money.  In my personal experience, I knew how to budget, but I KNOWINGLY made bad choices that resulted in over spending, late payments, missed payments, bad credit, and all of the other problems that come from making bad money management decisions.  Not because I didn’t know better, but because I allowed my desires to overrule my good judgment.

Some of my problem was the result of not being able to earn enough money to live the lifestyle I desired.  I’m not talking about a lavish, exorbitant lifestyle, I’m talking about just having a safe and comfortable place to live, a dependable vehicle and the resources to maintain it in good condition, and to afford the basic necessities of life; food, clothing, and healthcare.  So, instead of accepting the fact that I had to live within my means until I could get into a career position with a salary that allowed me to do the things I wanted to do, I ignored the voice of reason in my mind and made bad spending decisions.  So, having money problems is not always the result of a lack of knowledge but can involve a person’s judgment, circumstances, and sometimes their emotions.

Although I was at one time a prime example of one who DELIBERATELY CHOSE to make bad money management decisions that I knew would result in negative consequences, I worked very hard for a number of years and overcame my bad decisions.  I restored my credit, I got a career position with a major corporation where I worked successfully for over eleven years until I was a victim of downsizing.  I went back to college and graduated summa cum laude and earned a bachelor’s degree in Business Administration and studied economics, money and banking, accounting, business mathematics, and managerial finance.  These courses all helped me to not only understand the principles of personal money management, but I also got a much better grasp of our economic system and Keynsian economics, which was very enlightening and helped me make more sense of the financial system.  I feel that all students should be taught economics in high school, but unless things have changed in the last several years, very few teach economics as a part of their curriculum.  If I had received a basic education in economics in high school, I truly believe that I would have determined to live within my means regardless of my emotions, desires, or circumstances.

That is why this institute is so personal for me.  I hope that by sharing my experience and knowledge, and with the assistance of some very special people in the finance industry, hopefully, I can help as many people as possible avoid the catastrophic money management mistakes and resulting consequences that I made.

 

Who Is the Know Your Money Money Management Success Strategies Institute For?

Yes, the KYM Institute is for those who have problems or need help money management.  But it is also for those like I was, who know better, but because of inadequate income, loss of job, long-term health issues, or who just lack the willpower to control their spending, make very poor money management decisions.

As I have stated already, managing money is not always about a lack of knowledge, it is often a lack of willpower.

 

We Want To Help!

Regardless if you are comfortable with your money management skills, or you feel that you may need some help or just want support to help you resist giving in to the tendency to make decisions about your money that make you feel good, rather than making decisions that are in your best interest, don’t miss out on this opportunity to work on your money management skills because you are too proud and think you can handle things on your own.

Sure, you probably have the knowledge and ability to manage your personal finances, but can you improve?  In all honesty, are there areas where you really need to make improvement?

Let us help you, so that you can excel at managing your money.  Sometimes all a person needs is a support mechanism, or a resource to measure or review decisions against before they are implemented.  Allow us to support you in these ways through our KYM Institute.

 

The Next Steps

If you are really serious about making constructive changes in your personal money management habits, here are the next steps you should take.  Sign up now for the KYM Institute using the sign-up form on our KYM Blog to ensure that you receive news and updates about the program and that when the program begins you receive all of the tools and resources that will be provided for participants.

To emphasize, we really want this to be your program.  Delaying the start of the KYM Institute will allow time for you to let us know what you would like to learn from the institute and what specific questions you have, or what areas you feel you need help with.  Do not delay, take some time right now and give this some serious thought, then send your questions, suggestions, or comments to us by email at info@knowyourmoneyglobal.com, or use the comment box on our sign-up form under the sign-up tab on our KYM Blog.

We strongly encourage you to participate in the institute, and we look forward to working with you if you do.  

 

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.

 

 

Donell Edwards Publisher, Writer, Speaker

Donell Edwards
Publisher, Writer, Speaker

About Donell Edwards: Donell Edwards is President of CWR Media Group which includes CWR World News Talk Radio Show and CWR World News & Information Service, a daily online newspaper.  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

 

Follow us on Twitter and Facebook for more information about personal money management.

twitter-ilike-us-on-facebook

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 © 2017 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: 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: Understanding Your Credit Report

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. Markhak St.
Suite 116
Little Rock, AR 72211
DLEdwards@DonellEdwardsEnterprises.com

 

We’re Celebrating Financial Literacy Month

Know Your Money
Monday – April 27, 2015

Financial Literacy Month 2015
Understanding Your Credit Report
By Donell Edwards

The document shown below is not written in Greek, Sanskrit, Cuneiform or some other foreign or ancient form of writing.  But for many, it may as well be, because they have no idea how to read their credit report.  In her U.S. News & World Report article, “Infographic:  How to Read Your Credit Report,” writer Jenna Lee explains how to read a credit report and provides graphics to make it easier to understand.

Your credit report should not be confused with your credit score.  Why is this information important?  Because lenders use your credit report and your credit score to determine your creditworthiness, or, in other words, how much of a risk they believe you may be before extending you a loan for a vehicle, a home mortgage, credit cards, or other type of  loan, and many employers even use this information to evaluate whether to hire you or not. So, your credit report and your credit score are very, very important and your credit report should be reviewed at least once a year.  

You may get your credit report from any one of the three major credit reporting agencies, Equifax, Experian, and Transunion.  It is a good idea to check all three because the information may vary from one agency to another.  You may also get your FREE credit report from  https://www.annualcreditreport.com/index.action.

Your credit report is as the name suggests, a record of your credit activity that includes your purchases, payment history, credit limits, number of accounts, late payments, etc.  On the other hand, your credit score is a numerical value that is  based on information in your credit report that is derived from using a mathematical formula or algorithm.  Although there are many different credit scoring methods, the most common one is the FICO score; the acronym means Fair Isaac Corporation.  Both your credit report and your credit score are important.

As we enter the last week of Financial Literacy Month 2015, if you don’t already know how to read your credit report, don’t you think it’s time you learned.  Learn how here.

 

 

Credit Report

 

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

Step 21 – Document Your 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