5 Ways to Get a Big Head Start on Holiday Shopping

It’s not too early to start crossing items off your list, especially with upcoming tax holidays and end-of-summer promotions.

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What rising interest rates might mean for you

Mark King

Interest rates.jpg

There weren't too many surprises when the Bank of England chose to maintain the base rate of interest at 0.5% for the 78th month running on 6 August 2015, but there were pointers that a rise in rates is now firmly on the horizon.

There weren't too many surprises when the Bank of England chose to maintain the base rate of interest at 0.5% for the 78th month running on 6 August 2015, but there were pointers that a rise in rates is now firmly on the horizon.

Maike Currie, associate investment director at Fidelity Worldwide Investment, explains her view of what rising rates might mean for you.

What rising interest rates might mean for you

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There weren't too many surprises when the Bank of England chose to maintain the base rate of interest at 0.5% for the 78th month running on 6 August 2015, but there were pointers that a rise in rates is now firmly on the horizon. Maike Currie, associate investment director at Fidelity Worldwide Investment, explains her view of what rising rates might mean for you. What does it mean for families? "As rates rise, they will impact families differently, depending on the size of their borrowings and the terms of their mortgage. Younger households - those in their thirties and forties - have done relatively well from the prolonged period of lower interest rates. But this has also left many overburdened with high levels of mortgage debt. "In contrast, the older generation of homeowners is in a much better position, having benefited from a steady rise in house prices." What does it mean for retirees? "One of the casualties of lower interest rates has been safer streams of interest income. Retirees relying on their savings to supplement their pension income have felt the impact of low interest rates hardest. Many, no doubt, will greet an interest rate rise with relief. "Other good news for retirees is that annuity rates which have been at historical lows could improve with a rise interest rates, which means those planning to retire soon could secure a higher income. "Less positive is the possibility that retirees could see a fall in the value of their pension funds. This is because when investors near retirement age money is often automatically moved out of the market and into bonds, as a way of de-risking pension savings. Bond prices tend to fall when interest rates rise, in order to increase the yield and attract buyers." What does it mean for investors? "Investors could very likely see rates remaining at 0.5% until March next year, which will mark the seven-year anniversary of interest rates remaining at this 'emergency level'. When rates do eventually rise, expect a long, slow slog to 'normality'. Despite being dubbed the 'unreliable boyfriend' for his mixed messages on interest rates, Bank of England governor Mark Carney has made it very clear that a rate rise will be 'gradual and limited'."

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Scott Walker Pays 27% Interest on His Credit Card. Here’s How he Could Fix It

One of the most interesting parts of presidential election season is looking at candidates’ finances.

We so rarely feel comfortable talking about money among family and friends, and this required financial disclosure is like getting all the bigwig money gossip. Who would have guessed that Donald Trump is still making money off a book he wrote almost 30 years ago?

The latest candidate to be thrown into this fire: Wisconsin Governor Scott Walker. And here’s what we found interesting about his disclosure: this GOP presidential candidate happens to have a bunch of debt.

Walker’s report was released early this week, and National Journal reporter Shane Goldmacher pointed out the juicy parts.

“His newly published financial disclosure shows that, like many Americans, Walker has few assets, some major debts … and a punishing interest rate on his credit-card obligations,” Goldmacher reports.

That credit card interest rate? Almost 30%.

Say what? 30%?! Sounds like Walker needs to start reading The Penny Hoarder!

Let’s help him out and explain how to fix that financial mistake.

What the Heck is a Financial Disclosure?

When presidential candidates announce their campaigns, they have 30 days to release a financial disclosure statement to the Federal Election Commission. But the rules are more than a little accommodating.

While candidates have to disclose all financial details for themselves, their spouses and dependants, they’re only required to offer amounts in ranges — not exact numbers.

Candidates are required to file financial disclosure within 30 days of announcing their campaign, or by May 15, whichever is later. But they can get two extensions of 45 days each, which just stretches this whole process out for months.

What does it mean for the nosy public?

FEC disclosures are the gift that keeps on giving. It takes up to a month for the FEC to release the reports once they’re finally submitted, which means we will have several more presidential candidate reports to explore (and let’s be honest: gawk over) over the summer and early fall.

Walker’s Credit Card Debt: Surprisingly Relatable

Goldmacher’s study of Walker’s report reveals the governor suffers from the same problem as many Americans: serious credit-card debt.

One of his credit cards has a balance between $10,000 and $15,000. That one has an interest rate of 11.99%, which isn’t too bad.

But another credit card also has a balance between $10,000 and $15,000… with an interest rate of 27.24%.

Walker also has student loan debt of more than $100,000 for his two sons, Goldmacher reports. We can relate to that!

His investments are modest; six were reported with a value of less than $15,000 each.

We can’t help but wonder: How’s Walker going to convince a nation he can manage its finances when his own seem to be less than excellent?

Or maybe these debts make him, well, more like us?

How Scott Walker Should Deal With His Debt

Scott Walker could fix that 27% interest rate before the general election — heck, maybe even before the primaries.

Here are a few Penny Hoarder-approved methods:

1. Renegotiate the Interest Rate

If you’re paying at least your minimum each month and haven’t missed payments, your credit card might be willing to give you a break. You just have to ask.

We recommend Walker (or a designated peon) use a negotiation script to stay cool during the interaction.

He probably won’t be able to cut that interest rate by half, but take the percentage points where you can get them, Scott.

2. Cut Spending

We get it. Campaigning to be leader of the free world is expensive. But there are a ton of ways to cut back. A Harley Davidson devotion can get pricy quickly!

Walker should stick to his beloved Kohl’s for everyday needs and hold off on major purchases until that debt is destroyed. (Hey, does Walker know if shops through Ebates, he’ll get an extra 6% cash back?)

3. Prioritize the Debt

If we’re looking at interest rates alone, Walker’s credit card with 12% interest rate is no big deal. Set it aside, keep paying minimums and focus on that ridiculously high interest rate on the other credit card.

By reducing the balance on the card with the highest interest rate, you can slow the growth of the debt on that card. If Walker can squash that high-APR credit card once and for all, campaigning for votes and donations might feel a bit easier.

4. Transfer the Balance

Balance-transfer offers abound with interest rates hovering near 0%. Reap the benefits of a limited-time interest rate break by doubling up payments on the offending balance. For example, the Chase Slate card offers 0% for the first 15 months.

One couple used this method to pay off a $2,000 debt in 14 months. The key to success with this method is to focus on paying the rolled-over debt before the introductory offer expires — otherwise you might get stuck with another high interest rate.

5. Snowball the Payments

It’s difficult to determine whether this method would help Walker, since we don’t know the exact amounts of his credit card debts… but it’s worth a try.

Instead of focusing on interest rates, the snowball method works with overall debt balances. You pay minimums on all your debts except for the smallest ones; you knock out each debt one by one, putting as much money as possible onto your next target debt.

For Walker, this may mean tackling his high-interest card first, but that card may come later on the list if it has a lower balance overall.

Whichever method Walker uses, getting his personal debt under control is bound to make life on the campaign trail a little less stressful. If you were riding around on a big bus for weeks at a time, wouldn’t you want to know your finances are in order back home?

Your Turn: If you could give Scott Walker any financial advice, what would it be? (Be nice, folks!)

Disclosure: We have a serious Taco Bell addiction around here. The affiliate links in this post help us order off the dollar menu. Thanks for your support!

Lisa Rowan is a writer, editor, and podcaster living in Washington, D.C.

The post Scott Walker Pays 27% Interest on His Credit Card. Here’s How he Could Fix It appeared first on The Penny Hoarder.

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How a Proactive Bucket List Can Change Your Life

The best ‘bucket list’ items aren’t just about spending a bunch of money. They’re about experiencing authentic joy, which often comes after achieving a challenging goal through your own time, wits, and effort. Photo: Michael Paul Willis

A few years ago, I wrote an article about “bucket lists” and shared my own. Rather than just reiterating my explanation of what a bucket list is and what my idea of a bucket list was at the time, I’ll just quote from the first part of that article:

A while back, I watched part of the Jack Nicholson/Morgan Freeman movie The Bucket List. In it (if you didn’t already know), the two main characters, older gentlemen, come up with a list of things they want to do before they “kick the bucket” – and proceed to do most of them, even though many of them really push their physical and mental limits.

It was a cute movie with a pretty thoughtful premise – the idea of the “bucket list” itself. Like a million other viewers of the movie, I was anxious to make my own “bucket list” – and so I did. Here it is, for all of you to read.

Spend more than a week in a rural part of France.
Spend more than a week in a rural part of Italy.
Drink a bottle of 1982 Latour, Pauillac wine with my wife and some friends.
Run for a significant political office.
Write the novel I have inside me – and get it published.
Visit Petra.
Run a marathon.
Do a three week gastronomic tour of America, a la Feasting on Asphalt.
Dance with my wife and with my daughter on a special evening.

Those were the nine I wrote down, anyway. Some may seem silly to you, but those are all things I want to do before I pass away.

That bucket list is fine and all, but when I look back on it now, I see one big problem with it. Most of the list revolves around spending money and doesn’t revolve around any kind of personal accomplishment. That bothers me, and here’s why.

First of all, many of the items would be quite expensive. The travel? Expensive. The bottle of wine? One of those bottles would cost thousands of dollars these days. That’s more than half the list right there.

Second of all, many of the items on the list don’t require anything of me other than opening up my wallet. Again, the travel. The bottle of wine. They don’t require anything of me.

Now, why is that a problem? I’ve come to learn that the things in life that really bring me joy are the things that I’ve actually invested some of myself into – building skills, building relationships, investing time and energy. Just spending money on something feels hollow.

That’s why, for example, I’ve come to realize that the best part of travel (for me, at least) is the people you do it with because it’s a shared experience based on your relationship with that person. Traveling alone is a much emptier experience, at least for me.

In all truth, only four items on that list really require anything of me:

Run for a significant political office.
Write the novel I have inside me – and get it published.
Run a marathon.
Dance with my wife and with my daughter on a special evening.

Even those have changed, too, for various reasons.

See, here’s the thing. I feel as though my bucket list should be authentically joyful, and I’ve learned that the most joyful moments in life are connected to the things you’ve achieved and built yourself. They’re built on top of lots of effort. They’re built on top of lots of time. They’re built on top of strong relationships. They’re built upon skills that I’ve had to teach myself along the way. They’re built on top of personal achievement, something I can be proud of.

When I reach that summit, I can not only be proud of the peak that I’ve reached, but also look back with fondness at the path that I took to get here. That’s the part that’s really missing from a one-off thing on a bucket list. I can’t look back with pride on the path to get here when drinking a $2,000 bottle of wine or sitting at a distant destination. I just threw a bunch of money at a problem, got a reward, and moved on with life.

Something that you just threw money at might be cool, but it’s not something that will last a lifetime. It’s not something that I will savor for years to come. It will be a nice moment – and then life will move on.

Building a Proactive Bucket List for Yourself

So, how can you build your own proactive bucket list? It’s pretty easy, actually.

First, think about things that you want to achieve that can’t be bought with money. What do you want to do with your life that doesn’t primarily involve tossing shovelfuls of money at that thing?

Generally, this resolves right back to personal achievements. When you eliminate money from the equation, you come back to spending the other resources that you have – time and energy. In what ways could you spend a lot of your time and energy on something that would be deeply meaningful for you?

Second, make sure they’re possible but very challenging. For example, if I wrote down “Play in a Major League Baseball game” on my proactive bucket list, I would fail. I’m never going to play in a Major League Baseball game unless I build the technology to switch bodies with Bryce Harper. Instead, I look for things that can actually happen if I focus on hard work. Do not choose things where you can be excluded based on natural skill level or you’re begging to be unable to ever complete that item.

Third, choose things where the journey is enjoyable, too, or at least teaches you new things along the way. If the journey to completing that bucket list item is purely painful and unenjoyable, you’re probably never going to complete it unless you have some truly exceptional fortitude. Instead, look for things where the journey will provide you with some degree of pleasure or, at the very least, the opportunity to try lots of new things.

If you can choose a handful of things that you’d love to achieve in your life that meet these criteria, you have a powerful proactive bucket list to work towards over the years of your life.

My New Proactive Bucket List

So, I’ve been rebuilding my bucket list a little bit. I’ve been focusing on things that build on personal accomplishment, that allow me to relish the things I’ve achieved rather than just spending money. I want achievements that are totally under my own control rather than relying on others, too.

This is my new proactive bucket list. This bucket list will never happen unless I get out of my chair and do something. To me, that’s what makes it useful and exciting.

I want to ride RAGBRAI. For those unaware, RAGBRAI refers to the Register’s Annual Great Bicycle Ride Across Iowa, which is an annual weeklong bicycle trip across Iowa that thousands of people do each year.

This is kind of a replacement for my marathon goal, as I’ve come to realize that my knees don’t handle running as well as they handle bicycling. Lately, I’ve come to find a lot of joy from bicycling around town and over to neighboring towns on the abundance of bicycle trails in this part of the state.

I would like to do it when my children are old enough to go with me in a few years, which will give me ample time to adequately train for it. In fact, I’ve already begun a slow training program where I’ve been substituting a bicycle ride for my daily walk on many days.

I want to complete and publish a novel. This is something I have been working on for a long time.

My problem isn’t the act of sitting down and writing fiction. My problem is consistently that I’ll get a certain percentage of the way into a novel, one that I already have plotted out and developed characters and relationships for, only to decide that the novel is garbage and abandon it. I lack confidence in my long-form fiction writing.

For me, the personal challenge is breaking through that wall of confidence.

I want to spend a few hundred hours volunteering for a political candidate I truly believe in. Really, this is all about wanting to be a part of a political campaign in an intimate way when it’s centered around a candidate that I truly want to see elected. I got a strong taste of this in 2012 when I worked for a Congressional campaign here in Iowa, but even then I didn’t really take a full dive into things.

I want to truly believe in a candidate and then clear the decks of all of my work for a few months before Election Day and do nothing else but help that candidate get elected.

I want to play a guitar or banjo accompaniment to singers in a public performance without making a fool of myself. I am not a trained musician in any way. I can play a few very simple songs on the piano and one or two extremely simple songs on the guitar and that’s about all.

I want more, and the only way to get there is through effort.

My goal is simply to play in public in a situation where I won’t feel like a fool in doing so, and to play with friends and family when I do so. Again, this is all about personal effort. I could do all of it right now if it weren’t for the “feel like a fool” part – and to cross that threshold is going to take a lot of practice.

It’s going to take some lessons. It will probably take some seriously sore fingers, too. Still, it’s something I can reach for.

I want to walk the trails of every state park in Iowa. Here’s a list of 61 state parks in Iowa. I want to visit each one and explore the trails on offer at each and every one of them.

I would also like to someday visit every national park and walk at least one trail in each one, but that starts to get perilously close to a “money” goal. On the other hand, I can reach every state park in Iowa on a day trip and many of them are along the way to other destinations, so there isn’t much cost involved for me in achieving this item on my bucket list.

Adding the “walk the trails” part of the equation requires me to do more than just drive through the park. I have to stop, identify some trails, and explore them in each park. For me, two trails per park will be sufficient.

I want to make a homemade beer based on a recipe entirely of my own devising that’s among the best I’ve ever tasted. Homebrewing is one of my biggest hobbies. I have all of the equipment I need to homebrew (the only thing I’d like to have is some more self-capping bottles and maybe a bigger brew pot), so this isn’t about money. It’s about learning how to do it in a way that produces a delicious product.

Every time I brew a batch, I learn something new. I learn how to control the temperature better. I learn why a secondary fermenter makes sense. The list goes on and on.

And, over time, I’m making better and better beers. I’ve actually made a beer that I consider to be almost in that “best of all time” tier, but it was based on a public recipe. My average brew is good, but not quite great yet and definitely not “best of all time” tier, but it’s improving.

Eventually, I’ll acquire enough skills to come up with something on my own, make it on my own, and be blown away by it. That’s the moment I’m looking for.

Of course, when I achieve it, I will probably try to do it again!

I want to design and publish a board game. Over the last few years, I’ve designed two different board games. One was really simple – it’s actually an interesting simple modification of rock-paper-scissors – while the other is substantially more complex.

Neither one of the games got beyond the drawings-on-index-cards-and-pieces-of-cardboard stage. That’s because doing so takes a lot of work, not just in terms of graphic design and assembling physical prototypes, but also in testing it and writing directions and playing it over and over and over and also organizing others to playtest it. It’s a long list of things to do.

I want to carry that process through to the finish with one or both of these games – or maybe a new design.

I want to write and complete an iOS app that is useful to someone besides myself. I enjoy writing computer programs. At my previous job, I had a lot of direction regarding writing things that were useful to other people. Today, my involvement mostly boils down to some very periphery contributions to a few open source projects.

I’ve written a few iOS apps just to learn how to do it, but they were very simple things. Only one was genuinely useful and that was definitely just a personal use.

So, what I’ve been doing is watching a lot of different message boards and forums for people who sometimes come up with ideas for iOS apps they’d like to see. Often they’re way too complicated and sometimes they’re already done by someone else, but every once in a while there’s an interesting and achievable idea.

That’s what I want to do. Write that app that’s useful to someone else.

I want to build an interesting YouTube channel with at least 200 videos out there. For me, this is definitely one of those “journey is way more important than the destination” kind of things. I want to learn about videography, scripting, editing, microphone placement, lighting, and all of those things along the way. This just gives me something of a central project to achieve.

Again, it’s all about an investment of time and energy more than anything else.

A final thought: When I listed all of the things here to my wife, she said it sounds like some sort of modern “most interesting man in the world” kind of thing. I think that’s kind of the point. These things are interesting because there’s personal achievement behind them.

The Next Step – for Me and for You

So, what’s the next step? Pull an item or two off of your bucket list and make them happen. Make that singular item – or those two items – your major goal in life over the next few years.

Once you’ve picked out an item or two, come up with a plan to achieve it. What can you do today to make progress on that bucket list item? What can you pull off by the end of the week? Answer those questions and add those items to your to-do list.

Then, review your progress at least once a week. Did you take care of those things? Did you do something that moves you a little closer to your big goal? What are you going to do next week to keep moving closer to that goal?

It’s a simple process that works for virtually any goal out there. Focus on what you can do in the short term to make that goal happen and then keep reviewing things to make sure you’re still on track.

Final Thoughts

So, what’s really the big picture here?

The truth is that the life achievements that really matter and bring lasting pride and joy are the ones that are built on top of your efforts. The things I am most proud of in my life weren’t bought. They were built by a lot of effort. Among them are my relationship with my wife, my relationship with my children, and The Simple Dollar.

To me, a “proactive bucket list” is about building things like that. It’s about creating things that were made by me and will build into something incredible if I carry it through to completion. Those things have value to me, not just in the completion, but in the experience of getting there.

They are milestones in a joyful life.

I wouldn’t expect your “proactive bucket list” to be anything like mine. You might want to refurbish an old car or write a book of poetry or read the great novels of the 20th century or start a food pantry.

In the end, though, they’re going to be similar where it matters. They’re going to involve things that we pour our hearts and our minds and our bodies into. They’re going to build upon themselves into an achievement we can be proud of and look back upon with joy and personal pride.

That, to me, is what a proactive bucket list is really all about. It makes your life better without throwing money at the problem.

The post How a Proactive Bucket List Can Change Your Life appeared first on The Simple Dollar.

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7 Things CMOs Need To Know About Paid Social

With all the new ad types and emerging channels, do you know where your paid social dollars are going? Columnist Scott Rayden tells you what you need to know to ensure you're reaching your goals.

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New Ads Section For Publishers In Google Analytics Coming

New publisher section will include AdSense and new Ad Exchange reporting.

Please visit Marketing Land for the full article.

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The New Google Plus: Will Tighter Focus Lead To Success?

It's been a rough ride for Google+. Columnist Mark Traphagen delves into the early vision for the social network, what has emerged from those changes, and what the new direction will mean for marketers.

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Steps to Take Now to Save This Winter

It’s not too early to start planning your cold weather savings.

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How to Stop Living the Paycheck-to-Paycheck Lifestyle

Money comes in; money goes out. If you feel like you can never get ahead, here's how to break the cycle.

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5 Back-to-School Shopping Mistakes That Will Cost You Money

Avoid these school shopping blunders, and you'll keep more money in your pocket. 

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Facebook Thrives, Pinterest Lags As Driver Of E-Commerce Sales Conversions [Survey]

Facebook was the top converting channel for 64% of online retailers in the US and UK, according to a survey by ChannelAdvisors. Only 5% said the same about Pinterest.

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Bring Back The ROI To Your Social Media Campaigns By Attending SocialPro. See The Agenda!

The key to amplify exceptional customer experiences is to deliver great content and customer service. Doing this requires keeping up with the latest social media platform trends, governance, best practices and analytics. We make this simple for you at SocialPro, your forum for acquiring the latest...

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Unmetric Launches “Sense,” A Mobile App To Track Competitors On Social Media

New app displays Facebook, Twitter and Instagram posts selected from a database of 35,000 brands across 25 industry sectors.

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Interest rates held at 0.5% for the 78th month running

Mark King

Interest rate.jpg

The Bank of England has voted to hold the UK base rate of interest at 0.5% for the 78th month running, but raised the prospect of an imminent rise.

The Bank of England has voted to hold the UK base rate of interest at 0.5% for the 78th month running, but raised the prospect of an imminent rise.

The Bank's Monetary Policy Committee voted for maintaining interest rates, but there was dissent among the nine members, with 1 person voting for an immediate rise.

Interest rates held at 0.5% for the 78th month running

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The Bank of England has voted to hold the UK base rate of interest at 0.5% for the 78th month running, but raised the prospect of an imminent rise. The Bank's Monetary Policy Committee voted for maintaining interest rates, but there was dissent among the nine members, with 1 person voting for an immediate rise. Economists expect more members to vote for a rise in next month's meeting, leading to the increased expectation that a rate rise is on the cards sooner rather than later. Mark Carney, governor of the Bank of England, recently said he expects the Bank to consider a rate rise around the turn of the year. Maike Currie, associate investment director at Fidelity Worldwide Investment, said: "The tide may be turning on the era of ultra-low interest rates, albeit it very slowly. While the Bank of England will keep interest rates at 0.5% for now, monetary policy committee minutes show one MPC member, Ian McCafferty, voting in favour of an interest rate hike. Could this prompt others to follow his lead in coming months?" Peter Cameron, assistant fund manager at EdenTree Investment Management, added: "The waters have been muddied of late - on the one hand oil prices are falling again, but countering that is stronger than expected wage growth. These conflicting inflation trends are adding an extra layer of complexity to the rates outlook, but today's vote count indicates an incrementally more hawkish stance by the Committee as we approach the end of the year." David Meier, senior economist at Julius Baer, said these conflicts will end up pushing a rate rise later, to next year: "Given robust growth but some renewed downside risks on inflation, we maintain our call for the first rate hike on February 2016." Today marked the first time the Bank has released details of how members voted, at the same time as it released the interest rate decision - previously, the Bank released voting information two weeks after the decision itself. It also released its quarterly inflation report, making a bumper day of announcements - or a day industry insiders have coined 'Super Thursday'. In the quarterly report, the Bank of England downgraded its short-term forecast for inflation, citing the plummeting commodity prices. Oil has fallen from over $100 a barrel 12 months ago to below $50.

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Twitter Targeting by Events: Psychographic Targeting Hot House

Welcome to the Psychographic Targeting Hot House series, a column that originally appeared weekly on aimClear blog. Because of the popularity among our readers, we’ve partnered with Third Door Media, publisher of Search Engine Land and Marketing Land, to bring you this weekly column. Social...

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20 Financial Rules for Your 20s

In my early 20s, I made a ton of financial mistakes.

From maxing out credit cards, taking unnecessary student loans, to delaying my savings, I got off to a rocky start.

I sometimes wonder how I even have anything to my name.

Now into my 30’s, what I wouldn’t give to go back to my 20 year-old self and try to talk to sense into him.

But since I know myself rather well, I’m pretty sure I wouldn’t have listened.  Ha!

You don’t have to get off to a rocky start, though.

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When you’re in your twenties you’re really forging for your future. Things take shape later on.
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These 20 rules for finances in your 20s should help you get things in order before you head into your 30s:

1. Avoid Credit Card Debt

One of the best things you can do for your finances in the long term is to avoid credit card debt. Make it a point to have the money in your account before you charge something. High-interest credit card debt can ruin your finances over time, leeching away your wealth.

I, unfortunately, learned this lesson the hard way.  My dad, who struggled with credit card debt for most of his life, actually encouraged me to open a credit card when I was still in college.

#bigmistake

Before I knew it, I had maxed out one credit card and was opening several more.  It was a vicious cycle that could have ruined me had I not figured out when I did.  Even still, I had over $20,000 of debt before I did and it took me several years before I became debt free.

2. Only Borrow What You Need for an Education

I had a full-tuition scholarship (because I joined the National Guard) and a cushy job in the mall at GNC. With all of my resources, there was no reason for me to take out the maximum in student loans. But I did anyway.

While you you might need to borrow to fund your education, don’t take more than you need to make it work. The smaller your debts, the better.

Then, when you’re done with school and looking to repay your loans, make sure you understand what you’re getting into. Too many people are getting caught up in student loan consolidation scams, and just wasting money that could have been spent on their student loan debt. Remember, once you graduate you have to pay back the loans.

3. Be Careful about Borrowing for Anything Else

Whether it’s a house or a car, be careful about borrowing. The rule about only getting what you need applies for all your loans. Yes, you will probably need to borrow if you want to pay for a house. But you don’t need to go overboard; modest homes and modest cars, paid for with solid down payments, are your best choice.

4. Pay Attention to Your Credit

Just because you shouldn’t rack up credit card debt doesn’t mean that you should ignore credit cards and other forms of credit. Building a good credit history can help you in a number of ways.

Good credit is about more than getting the best interest rate on a loan (something that can save you thousands of dollars over your lifetime). Your credit is used to determine insurance rates and security deposits. A version of your credit report might also be used as part of your background check for a job.

A previous 20 year-old intern of mine thought his credit was good, but found out the hard way that since he didn’t have any credit history, his credit score was actually a 621.  Ouch!

After realizing this he was able to implement a few strategies and raise his credit score dramatically to the tune of 110 points in a short amount of time.

If you want to make the most of your finances, you need to establish good credit habits. The fastest way to do this is to get a credit card and use it once or twice a month for items you can pay off in full, immediately after you use it. Try to never carry a balance over to the next month.

5. Pay All Your Bills On Time

As a fledgling adult, you are now responsible for many of your own costs. It’s vital that you pay all your bills on time. You don’t want to miss payments for utilities, your phone plan, or other items.

Missed payments can have a number of consequences that can be far-reaching, including messing up your credit score for years. That’s right, I said YEARS.

6. Open a Checking Account on Your Own

At some point in your 20s, you should open a checking account on your own. This means that you ditch the old joint account with your parents, and start managing your own finances. Look for a free checking account (many banks and credit unions offer student accounts that come with benefits), so you don’t have to worry about fees.

7. Open a Savings Account

While you’re at it, open a savings account. Look for a high-yield account that offers you the chance to earn a return. Then, set up a regular schedule for adding money to your checking account. Even if it’s only a few dollars a week, the important thing is to get in the habit of saving.

8. Open a Retirement Account

The sooner you start saving for retirement, the better off you’ll be. Why?  Because you don’t want to still be eating ramen noodles in retirement.  That’s why.

You can end up with thousands more in your nest egg if you start investing in your 20s, rather than waiting until you are in your 30s.

As soon as you start earning income, open a retirement account. If you can’t get a retirement account through your job (perhaps it’s part-time), open an IRA. Anyone with earned income can contribute to an IRA.

9. Learn about Investing

Now is a great time to learn about investing. Find out how you can use money to improve your returns. Get the basics of how to invest in low-cost funds, as well as how you can use dividend stocks to your advantage.

When you understand the basics of investing, you are better able to build wealth over time. Learn how you can use a taxable investment account in addition to your tax-advantaged retirement account to boost your wealth.

10. Purchase Life Insurance

Probably the last thing on your mind in your 20s is life insurance. Ewwww! That’s something that only old people need to talk about.

But the truth is, you can get a much better rate on life insurance while you are young and (probably) healthy. If you plan to start a family sometime in the next decade or so, getting life insurance now can be a good way to lay the foundation for financial protection for your family. It’s possible to find inexpensive term life insurance that provides adequate coverage for 20 to 40 years, depending on the length of term you choose.

And just because you take out a 30-year term policy today doesn’t mean you have to continue to pay on it. Since life insurance is an unilateral contract, you can stop it at any time. But remember, since most policies are super cheap (around $15 per month for $250,000 of coverage), it would be silly to ever stop paying on the policy.

11. Develop a Marketable Skill

It’s not necessary to go to college if you want a good job. However, you do need a marketable skill. Consider which skills you can develop that might be in demand. There are plenty of certifications that can provide you with a good job — and you don’t have to go to school for four years.

Make yourself marketable, and you’ll be more likely to find a job, even in a down economy.

12. Consider a Side Hustle

Even the most marketable of us run the risk of being jobless if economic conditions are especially difficult. A side hustle can help you diversify your income. Consider starting up a small side business that can help you cultivate an alternative income stream so that you don’t have to rely too heavily on a single source of income.

A side hustle I failed at was real estate. I could have given up, but that led to me starting my blog, which has been a great side hustle. Don’t give up after one attempt.

13. Give to Others

Well-rounded finances include efforts to help others. Whether you give money to your church, donate to charity, or volunteer, you can give of your time, money, and effort. Efforts to give to others generally result in better financial management, and can even expose you to new opportunities.

14. Start Building a Network

Developing people skills is an important part of marketing yourself for future career and financial opportunities. Take advantage of internships, campus organizations, community organizations, and other opportunities to meet people. Build relationships now, and you might be surprised at how helpful they can be later.

15. Establish Your Priorities

Think about what you value, and what is important to you. Now is a great time to establish your spending priorities. Consider how you want to use your money, and what you want your money to accomplish on your behalf. Then, instead of wasting money on the things that don’t matter to you, you can use your money to purchase things and experiences that are important.

16. Create a Spending Plan or Budget

Put together a plan for your money. Base your spending plan or budget on your priorities. Understand your cash flow so that you know how much money you have coming in each month, and what expenses need to be paid as well. You don’t need to account for every dollar (although that can help), but you do need a plan that helps you stay on track, and that allows you to meet your goals.

17. Talk Finances with Your Significant Other

Chances are that you will meet your spouse while you are in your 20s. When things start getting serious, you need to talk finances. Whether you are planning to move in together, or whether you want to get married, you need to talk about your money habits, share the realities of your situation, and make plans for the future.

If you are sharing your life with someone, you also need to figure out how you will manage your finances together (even if you keep separate accounts).

18. Get Used to Saving Up for Big Purchases

Now is a great time to develop the habit of saving up for major purchases. Rather than buying things on credit, practice saving up for things like computers, vacations, and even your wedding. While you can benefit by buying things with a credit card, make sure that you have the money saved up in advance so that you can pay off your card and avoid carrying a balance.

19. Learn to Cook

I would never suggest that you eschew eating out altogether. After all, I enjoy eating out. However, eating out all the time can lead to health problems, and it can drain your finances. Learn how to plan meals, and how to cook.

You’ll be healthier, and you’ll save money over time. Good health is one of the best money-savers (plus, you get to enjoy your money!), and learning to plan and cook healthy meals can go a long way toward maintaining a good quality of life.

20. Learn to Say No

Know how to say no. This means that you might have to say no to a purchase you want (or at least put it off). Sometimes it means saying no to loved ones as you attempt to make time for yourself and your job. Sometimes, it even means saying no to a job that isn’t working for you. Learning how to say no — and knowing when to use this word — can help you use your financial resources more effectively.

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Slick New AdWords Report Editor Is Rolling Out With Drag And Drop Insights & Instant Charts

A new reporting tool from Google allows marketers to instantly create beautiful reports using a simple drag and drop format.

Please visit Marketing Land for the full article.

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7 Ways to Market Your New Business Without Breaking the Bank

By Angie Nelson Launching a new business is never easy, but it doesn’t have to bankrupt you, either. Many new business owners are excited to promote their company, but make the mistake of spending too much on marketing. While it’s important to advertise and market your organization, it’s possible to do this without spending a […]

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6% of singles fund dates with payday loans

Alex Holmes

Payday loan.jpg

Some 6% of British romantics have resorted to payday loans for picking up the tab on a date.

Some 6% of British romantics have resorted to payday loans for picking up the tab on a date.

Indeed, a fifth of UK adults admit to using credit to fund their romantic lives but the most common form is credit card.

Friends and family are the second highest source of credit for nearly a quarter of those surveyed by the Debt Advisory Centre.

6% fund dates with payday loans

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Some 6% of British romantics have resorted to payday loans for picking up the tab on a date. Indeed, a fifth of UK adults admit to using credit to fund their romantic lives but the most common form is credit card. Friends and family are the second highest source of credit for nearly a quarter of those surveyed by the Debt Advisory Centre. "People feeling under pressure to spend beyond their means, simply to impress, is worrying," says Melanie Taylor, a spokeswoman for charity the Debt Advisory Centre. "Using credit to fund a lifestyle that you can't afford is a definite sign you need to reconsider your priorities." Although 64% of men questioned thought that the man should pay the bill on a first date, more than half of women said the top reason for taking out credit was concern about expecting their date to pay. Taylor said: "Most people are comfortable with splitting the cost of dates, rather than expecting one party to pay for everything." However, the figures might dispute this attitude as a quarter of men go into the red for a date, compared with 11% of women. Taylor said: "People should remember that credit cards need to repaid, and it can cause serious problems if it becomes unmanageable. "If you're in need of some budgeting help, or are already struggling, talk to an expert." While almost half of those surveyed believe the bill should be split on the first date some unlucky ladies might come across the 2% of men who think women should foot the bill for a romantic outing. Jemima Wade, spokesperson for dating site eHarmony.co.uk, told Moneywise: "As modern as we are in the UK in the 21st century, we still haven't figured out any hard and fast rules about who should pay on a first date, leaving it as a somewhat grey area. "Dates are exciting and it's only natural to want to impress and have fun, but you can do this affordably, and in doing so take the pressure off yourself. Simply take some time to research online and you'll find loads of great, inexpensive date ideas out there... By putting time and effort into planning something truly unique and thoughtful, it shows your date the real you – which after all is what dating is all about; having fun and just being yourself."

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A Trick for Making More Money as an Airbnb Host: Target Business Travelers

Often cheaper (and definitely more unique) than hotels, Airbnb has long been a fantastic way to travel. I’ve rented everything from a tiny room in Barcelona to an entire California home for my backyard wedding.

And if you’re willing to list your own home on Airbnb, you can make a serious amount of cash. I made just over $2,000 last year by renting out my San Francisco studio on the weekends my husband and I went camping.

The site is no longer just for personal travel, either. Businesses have started using it for conference travel and employee relocation, and Airbnb just released a new tool to make things easier: Airbnb for Business.

What does that mean for you as a host? If you’re strategic with your listing, you can make even more money from these business travelers.

How Airbnb for Business Helps You Make Money

The new tool, which helps companies better track bookings for their employees, means more businesses may start using Airbnb, rather than hotels — meaning more demand for your listing. Whether you have a spare room, a pull-out couch or a full house, visitors traveling to your area for business may want to rent your space.

My husband and I earned more than $2,000 last year renting out our apartment for a total of 15 days. Every time we opened up an available weekend on the Airbnb calendar, our apartment would be booked within hours. Overall, our experience was amazing. Airbnb’s security measures are top-notch, our guests were lovely and I wouldn’t hesitate to do it again.

“Business travelers are the best guests,” says Christine, a host in Fairfield County, Connecticut who preferred not to use her last name due to the constant regulations controversy.

“They pay through Airbnb and don’t ask to go outside of the site (because they need receipts). They’re gone during the day and are, for the most part, more mature and therefore respectful of the fact that they are in someone’s home, not a hotel.”

Strategies for Targeting Business Renters

Christine says around half of her guests are on work trips.

“One regular guest has a consulting gig in town and is required to be here for one week at a time four to five times a year. I think he enjoys having more space than a hotel room and a semblance of home life. He eats at our kitchen table (or sometimes standing at the counter while I cook) and watches television in the family room.”

“Business travelers are already very aware of Airbnb,” adds Christine, “so the key is not so much attracting them but making one’s listing stand out from the others as more business-friendly.”

So how do you craft a business-friendly listing? Here are a few tricks to attract the right guests.

Offer a Monthly Discount

If you have a guest room or a second home, consider renting it for longer stints than a few nights. Your earnings will be more consistent, with less turnover — and therefore less work.

To attract longer-staying guests, consider offering a discount. A “relocation package” with a discounted monthly rate will be a lot more appealing to an HR rep than a standard per-night cost.

Research the going rates for furnished apartments in your city on Craigslist, then drop your price accordingly.

Highlight Business Perks

First and foremost, provide a fantastic WiFi connection, especially in the room you’re renting out. Then throw in work-specific items like a bedroom desk or printer.

“I’ve been miserable at some Airbnbs because I was confined to doing all my activities, including eating, on the bed or the floor,” says Christine.

While every guest is different, give them the option for complete privacy so they don’t feel forced to interact in common areas or have trouble concentrating on their work.

Also highlight location-related perks, like “walking distance from the conference center” or “Google shuttle right outside the door.” These tidbits will be a big selling point for any business traveler.

Review Your Calendar

Make your space available during peak business times, like your city’s annual boat-engine trade show or makeup conference.

Many attendees will have a hard time finding accommodation during those times, and if you have a pull-out couch for half the price of a jacked-up hotel room, you could find yourself making some decent money.

Build Up Your Reviews

This step is so important. Before charging full price for your place, collect ton of positive reviews.

To do this, check the average price of similar rentals in your neighborhood, then lower yours while you gain experience. Once you’re a comfortable and experienced host (and have the reviews to prove it), increase your price.

Tips for Stress-Free and Successful Airbnb Hosting

If you’re serious about hosting travelers on Airbnb, these tips will make every transaction smoother for both you and your guests:

Hire a Housecleaner

Guests deserve a spotless stay, and most of us aren’t huge fans of deep-cleaning. Hiring a cleaner will make it way easier on you.

Make a Welcome Packet

Guests will ask you for tips on places to visit, restaurants to check out or where to do their dry cleaning.

Make a big list, complete with map, and laminate that bad boy so you don’t have to keep reprinting it. I also found it helpful to create little note cards explaining how to use the Vitamix, not to run two appliances at once in the kitchen and where we keep the extra sheets.

Also, put the WiFi password somewhere obvious. No one wants to have to hunt around to get online.

Have a Buddy

If you’re renting out a whole house and will be away, you need someone nearby for emergencies. Ask a neighbor to hold onto a spare key or a landlord to help if a fuse blows.

Provide Amenities

Don’t be the host who refuses to provide basic amenities like towels, cooking utensils and hand soap.

Some hosts go above and beyond with a little tea cart, electric kettle and toiletry basket. Be one of those hosts.

I now live in Düsseldorf — the “trade show capital of the world” — and I’m thinking of listing my new apartment on Airbnb. I don’t have a spare room, but I do have an air mattress and my husband and I travel a lot. It might be worth it — especially for business travelers.

Your Turn: Would you rent your place to business travelers through Airbnb? Have you tried it already? We’d love to hear about your experience!

Marian Schembari is a writer and blogger based in Düsseldorf, Germany by way of San Francisco. She writes about travel, creativity and spends way too much time on the internet.

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