Healthy Personal Finance

Develop a budget and stick with it

A good way to start the year on the right track financially is to make sure that you have a budgeting system in place. Start by identifying your income and expenses. Next, add them up and compare the two totals to make sure you are spending less than you earn. If you find that your expenses outweigh your income, you'll need to make some adjustments to your budget plan (e.g., reduce discretionary spending).

Once you have a budget, it's important to stick with it. And while straying from your budget from time to time is to be expected, there are some ways to help make working within your budget a bit easier:

•          Make budgeting a part of your daily routine

•          Be sure to build occasional rewards into your budget

•          Evaluate your budget regularly and make changes if necessary

•          Use budgeting software/smart phone applications

Set financial goals or reprioritize current ones

The new year is also a good time to set new financial goals and reprioritize your current ones. Take a look back at the financial goals you set for yourself last year--both short- and long-term. Perhaps you wanted to increase your cash reserve or save money for a down payment on a home. Maybe you wanted to invest more money towards your retirement.

Did you accomplish any of your goals? If so, do you have any new goals that you would now like to achieve?

Finally, have your personal or financial circumstances changed during the past year

(e.g., marriage, a child, job promotion)? If so, would any of these changes warrant a reprioritization of some of your goals?

Make it a priority to reduce debt

Any healthy financial plan is one that makes reducing debt a priority. Whether it is debt from student loans, a mortgage, or credit cards, it is important to have a plan in place to pay down your debt load as quickly as possible.

Review/take steps to improve your credit history

Having good credit is an important part of any sound financial plan, and the New Year is as good a time as any to check on your credit history. Your credit report contains information about your past and present credit transactions and is used by potential lenders to evaluate your creditworthiness. A positive credit history is important since it allows you to obtain credit when you need it and at a lower interest rate. Good credit is even sometimes viewed by employers as a prerequisite for employment.

Textophiles Love the Lowly Pen

Guess what remains one of today’s most popular instruments of communication – even in our wired world? Here’s a hint: Look around your desk, your car and your briefcase and you’ll find a common denominator.

Another hint? It’s everywhere, it’s accessible and it’s the solution to leaving your smartphone at home. The answer is the pen, and don’t go writing it off anytime soon.

The pen’s importance to consumers was investigated recently in a study cosponsored by BIC Graphic USA, a well-known company selling – you guessed it – pens. The study interviewed 1,114 consumers on their writing habits, and as researchers fast discovered, we consumers love our pens. Here are some of their findings:

·       Of those surveyed, 73% carry a pen at all times.

·       Almost 92% of car owners keep one or two pens in the car.

·      And, somewhat surprisingly, respondents under age 35 ranked the importance of pens higher than did those over age 65.

You know it’s in for the long haul when even textophiles love it.

Hold The Colas - Scrap the Sports Drinks

We all need our daily dose of caffeine to wake us up in the morning, but it turns out that, thanks to us, our kids may be getting a caffeine habit too.

Seventy-five percent of children surveyed consumed caffeine on a daily basis, and the more they consumed, the less they slept, according to a 2012 study published in the Journal of Pediatrics.

More reason for watching the kids’ caffeine intake:

·         Caffeine blocks a calming chemical in the brain, heightening stress hormones, which can increase 

           fat storage.

·         Caffeine inhibits impulse control.

·         Caffeine has no nutrients.

·         1,200 cases of caffeine poisoning were reported in kids under six in 2009.

Worth Reading

Does Having Choices Make Us Happy? 6 Studies That Suggest It Doesn’t AlwaysBy TED blog

Making decisions for yourself might not be all it’s cracked up to be. According to an amazing talk by marketing professor Baba Shiv, sometimes it’s a good idea to give up the driver’s seat. Shiv’s seemingly counterintuitive thoughts have led to a number of studies and research on choice, all trying to answer the question “Does having choices really make us happy?”

More: http://tinyurl.com/c3lwjwq

True Secret to Success (It’s Not What You Think)
By Geoffrey James
www.inc.com

Flexing this important emotional muscle is a key to lifelong success – but it’s probably not what you’re thinking. Gratitude is the answer to all your problems when it comes to success. It’s important to program your brain to be grateful, even if you’ve had a bad day. That means training your brain to look for more reasons to feel grateful. Try flexing this muscle to see how it affects your life.
More: http://tinyurl.com/cnzdxuy

How Being Polite Can Hurt Your Health
By Leslie Quander Wooldridge

We’ve always been told by our parents to respect our elders, keep our elbows off the table, and most of all…to be polite! But the final warning may not hold value any longer, at least not when it comes to our health. Being polite has been shown to cause harm in a number of ways – from forcing you to give in to peer pressure to overeating to please a host. Are you guilty of these polite faux-pas?
More: http://tinyurl.com/cvmf6tu

Are Words Losing Their Magic?

The most powerful ideas in human history have one thing in common – they’re all based on words. From religious doctrines to political constitutions to famous speeches that have broken down walls and created worlds, words have a long history of forging futures.

So, what is it about words that give them the ability to shape perspectives?

Rooted in oral tradition, words have always communicated importance. From oral traditions to the written word, words were luxuries available only to the elite. That is, until the printing press made it possible for them to be distributed almost as soon as they were written.

Today, words are shared as they’re conceived, and technology has made it possible to fire these “thought-rockets” around the world at devastating speeds.

That same technology has quickened the pace of the world. We do more, say more, share more – but does that mean we’re thinking more?

Among social media, digital media and broadcast media, words are hurled randomly into cyberspace with meanings twisted and distorted. Indeed, we’re littered with words, but how many of them actually matter?

Ironically, even though we’re exposed to more words today than ever before, fewer move us as did the words and works of the great orators of the past. Are words losing their magic?

Eat Dirt: It’s Not Evil Anymore

In North America, we obsess about hand sanitizer and scrub our fruits and vegetables until every vestige of mud in an effort to protect ourselves from bacteria we believe will make us ill. Well, as it turns out, our preoccupation with cleanliness may actually be making us sick.

A five-year study called the Human Microbiome Project found that 100 trillion good bacteria live in our bodies, bacteria that help keep us healthy.

The project, involving 200 scientists and 80 institutions, also discovered that as many as 1,000 bacterial strains exist in each person, that everyone’s microbiome (their collection of bacteria) is unique, and that disease-causing bacteria found in a human’s microbiome not only don’t cause illness, but they also co-exist peacefully. In short, bacteria isn’t evil.

Jeff D. Leach, founder of the Human Food Project, wrote in the New York Times: “Increasing evidence suggests that the alarming rise in allergic and autoimmune disorders during the past few decades is at least partly attributable to our lack of exposure to microorganisms that once covered our food and us.”

So how can we refamiliarize ourselves with those microorganisms? According to Leach, the answer lies in reintroducing organisms found in plain old mud.

While you may not want to eat spoonfuls of mud, you could consider trading artificially shiny grocery store produce for veggies and fruit from the local farmer’s market. And that dirt clinging to them? It’s good for you, so don’t be too quick to scrub it all off.

Do You Know What’s on Your Food?

Pesticides and fertilizers are of growing concern, and more and more people are aware of their potential dangers. But now there are ways of learning just exactly what’s in the produce you eat.

A new website and accompanying app (www.whatsonmyfood.org) will help consumers make informed choices by explaining just what and how many chemicals and pesticides your food contains. Now you can opt for pesticide-free products instead of a nonorganic alternative.

 Meanwhile the nonprofit organization Environmental Working Group, which specializes in research into toxic chemicals, has listed a “dirty dozen” of produce with the highest pesticide load. These include apples, strawberries, peaches, spinach, nectarines, grapes, sweet bell peppers, celery, potatoes and lettuce. Some, of course, may be peeled to dramatically reduce pesticide residue, but what do you do about others?

It’s worth considering. According to experts, even small doses of chemicals can lead to poor health, especially for the most vulnerable – the elderly and the young.

Buying Life Insurance? Ask These Six Questions

Are you considering a term life insurance policy? If so, it’s important you do your homework to ensure that you get the policy you need.

Here are six questions to ask before you sign on the dotted line.

What are your income needs?

It’s important to consider your family’s income needs over the course of your policy, including expenses such as mortgages, college tuition, medical bills and funeral costs.

What length of term do you want?

The length of your term will depend on your long-term income outlook. For example, if you’re working for 10 more years and then have retirement benefits and Social Security, a 10-year term may work for you.

Can you convert the policy?

If you outlive your term life insurance policy, you may want to convert it near the end of the term without needing another medical exam. Be sure to read the fine print on the conversion option, as there can be time limitations for conversion.

What other benefits do you want?

Riders – such as disability waivers that pay your premiums if you become disabled – are more common on whole life insurance policies than on term life insurance policies. But they are available, so look into them.

How applicable are advertised rates?

Even if you’re relatively healthy for your age, the rates promoted in online or newspaper ads may be based on an applicant with exceptional health. The price quoted may not be applicable to you.

Is the insurance company stable?

Life insurance companies are usually in excellent financial health, but you should still check out their rating. Agencies that rate life insurance companies include A.M. Best Company, Fitch Ratings, Moody’s Investors Service and Standard & Poor’s Ratings Services.

Party Stress-Free With Tips From the Experts

It’s one of life’s great ironies that planning a fun party can be stressful. But it doesn’t necessarily have to be.

Learn from the experts. Keep these party planners’ tips top of mind and you’ll have rave reviews from the partygoers while staying calm, cool and collected yourself.

One month to go

Choose a theme. A theme makes planning your party a little easier and a lot more fun.

Generate a budget. This will be your lifeline for the party. Remember, it’s not about how much you spend but what you do with your budget.

Pick your guests. Try not to invite people who hate each other; make sure it’s a fun mix.

Invite. Use whatever works for you:
e-vite, phone call or cute card.

One week to go

Plan your meal. Hopefully everyone will have RSVP’d by now.

Logistics. Decide on a seating plan. Know where the coats will go. Make sure you have enough glasses of all types.

Hours to go

Go Zen. Have everything ready well ahead so you can relax.

Laugh at your mistakes. Your guests are probably having too much fun to notice.

Have fun yourself. It’s the best part of throwing a party!

How Craftsmanship is Making a Comeback

The rise of careful craftsmanship is one of the more interesting trends that has gained traction over the last few years.

You can see it in the repurposing of vintage furniture and found objects, which become unique home décor objects in the hands of a skilled craftsman. You can see it in the 100-mile movement, with its emphasis on local, home-grown food and its extension into handmade crafts produced by local artisans. And you can see it in craft circles, artists’ collectives and local artisans’ markets, which are thriving across North America. Even interior designers are seeking out craftspeople for special projects, and the website www.custommade.com, which connects clients to craftspeople, boasts some 36,000 completed projects.

The trend does in fact reflect a desire for unique items, but another possible stimulus is the decline in the quality of today’s manufactured goods, which has sparked consumer interest in well-made and long-lasting products.

Today’s consumers want to know what they’re purchasing, where it came from and how it’s being made. “They demand to be informed of every step of the process, for it is the only way to be sure that you are purchasing a quality product,” comments CustomMade’s Heather Bailey on http://bostinno.com. Their products may have a modern twist, but today’s artisans channel their colleagues from the crafts movement of the early 20th century. While modern technology offers them easy access to information and networking, their passion for creating and pride of workmanship reflect the values of bygone days, with unique and amazing results.