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ColeFP and Wealth Management, Inc.
33 followers
33 followers
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Scott will be live at 2 PM today. Discussing internet security & your personal finance questions. Join us! http://ow.ly/b6TN30fRcIs

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There is nothing inherently wrong with credit cards, just like there is nothing inherently wrong other things like chocolate, beer, or a weapon. It is our use, or misuse, of these things that get us into trouble. This article gives you some interesting background on why credit cards can be so easily misused - they remove the psychological "friction" behind the exchange of your hard earned money for the goods and services you're seeking. Take a look ... http://ow.ly/iNuZ30dE0u5

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How do student loans effect your child's financial future? Delayed home ownership is one of those and now there is more data on the subject. An underlying question to ask is what role should the government, state and federal, have in providing for an educated population that is cable of functioning and competing in the future? As states reduce the funds they provide, the schools raise their tuition prices to compensate, making it harder and harder for aspiring students to afford it, so they borrow more. Carrying around that debt for years then casts a long shadow over their financial options for things like a home, family, etc. More here ... http://ow.ly/7IOn30dDY6m

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If you ever wanted to see what the an American version of the French Revolution might look like, you won't have to wait too long. If politicians can't get their act together and Social Security benefits actually do drop by 25% from what people are owed, who knows what form the unrest might take. Protect yourself by saving in your 401(k), IRA, or other methods you might have access to as best you can. More here ... http://ow.ly/AaA230dDXCf

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Some popular personal finance personalities say things like "do things the way your grandmother did!" yet ignore the fact that the world is a very different place than it was 50 years ago. Oh it's not as if these issues didn't exist at all, it's just that they were much less pervasive than they are today, now that technology got involved. http://ow.ly/NGrE30dsgjJ

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The burden of student loans is a real thing. Don't kid yourself about how carrying around a large pile of student debt can effect your life because it can and for a very long time. Making smarter choices around school selection, program of study, and realistic job and salary prospects are a MUST before shipping junior off to college. What can having those loans do to your future? Read on ... http://ow.ly/8Wip30dsgOc

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There are all sorts of financial mistakes we make every day and we KNOW we shouldn't be doing it. For some reason though, as a nation we keep on making these mistakes over and over, as if nobody ever said "hey, that's a bad idea". So we keep coming up with these items to share with folks, just to get the word out. http://ow.ly/R9Fn30dsg5X

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Higher education expenses go up at rates similar to healthcare expenses, which is far greater than the average rate of inflation. When it comes to higher education, you at least have the advantage of knowing WHEN you'll need the money and you can control WHERE it gets spent and WHAT it gets spent on, unlike health expenses with can be very unexpected. When it comes a college fund for your kids, it's all about saving early, saving often, and, when the time comes, making reasonable and informed decisions about the choice of school. More here ... http://ow.ly/art930cRI9D

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Every so often we have to remind folks, especially parents as they get older, to make clear their financial situation and their estate plans with their kids in advance. Let them know your intentions up front, don't spring a surprise with the will and inheritance later unless you're trying to cause conflict on purpose ... http://ow.ly/wp3e30cRI2z

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Of course one of the keys to being able to save money is to live below your means; just because you make X after taxes doesn't mean you have to spend it all. One of the other ways to save that nobody likes to hear about is to make sacrifices on things you do spend on; don't give in to the want of a newer/better/bigger/shinier thing because you don't actually need it. More here ... http://ow.ly/UO8930cRHHM
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