Unfortunately, without a financial plan, it can be a lot more difficult to reach your financial goals, because you do not know which goal to work on next. Your financial plan will help you be ready for each of the financial steps in your life. A Financial Plan Helps You Achieve Your Goals A financial plan will help you by creating a timeline for you to follow for your goals....

How Partnerships Make Money The term “making money” to most people means making a profit. A profit is the difference between the income of the business and what it spends (expenses). A business functions by spending money in order to sell products or services. A business also buys things (called “capital assets”) to help make or sell these products or services. Then, at the end of a specified period of time, the expenses of the business are added together and compared with the income or revenue of the business....

Laws Affecting Bulk Sales State bulk sales laws are enacted to prevent businesses from avoiding sales taxes. Federal laws on bulk sales relate to preventing attempts to keep assets from creditors in bankruptcy. State bulk sales laws fall under the Uniform Commercial Code (UCC) since they involve credit. Each state has its own UCC regulations and each state handles bulk sales differently. In Pennsylvania, for example, bulk sales regulations kick in when more than 51% of a business’s assets are sold or transferred....

On Wednesday, officials at the Federal Reserve will announce their next move in their ongoing battle against inflation, and will say how much they are raising the central bank’s benchmark interest rate. Many experts expect a 75 basis point hike in the federal funds rate, bringing it to the 3% to 3.25% range. That would be the third such super-sized rate hike in a row, triple what the Fed usually does when it raises interest rates, and one that until this June, hadn’t been seen since 1994....

But establishing a down payment strategy should go beyond the savings account. Government and nonprofit programs provide down payment funds for first-time homebuyers. And some government-backed home loan programs require no down payment and offer low interest rates. Learn more about down payment and loan options, where to find down payment assistance, and how to weigh the pros and cons of different down payment Down Payment Requirements for First-Time Homebuyers While the 20% down payment is considered traditional (and less risky for lenders), it’s a lot of money for first-time homebuyers to come up with....

If you’re buying a new spec home from a builder or developer, you may be able to choose some of the details like flooring, appliances, and paint color. The earlier you secure a contract in the process, the more customization you may have. With tract homes, where the developer divides a large tract of land into lots, you will likely have even less say in the homes’ features. Ultimately, to get a home built completely to your standards, you’ll need a fully customized home where you have complete control....

It’s difficult to know precisely what is required to retire with financial security. But it is possible to get a good estimate, which will then help in knowing how much to put away now to reach your goals. Here are five things to remember when determining how much you’ll need to retire: 1. Calculate the Income You Need in Retirement When saving for retirement, you’re actually building an account value sufficient to replace 70-80% of your pre-retirement income....

How Does Renters Insurance Work? You might assume that your landlord’s property insurance would cover damage to your possessions in the event of a disaster. But you’d be wrong. Your landlord’s insurance only covers the structures and common equipment for the building, along with your landlord’s liability for injuries on common property. But for your personal possessions, you need renters insurance. Many landlords will require you to provide proof of renters insurance within a certain time frame after signing a lease....

The authorized user receives a credit card with their name on it, and they can use the card just the same as if they were the primary account holder. All purchases the authorized user makes go to the same account and appear on one credit card statement. The authorized user shares the credit limit with the primary account holder and their purchases reduce the amount of credit available to both users....

You do not want interviewers to see a layoff as a reflection of your ability to do the job well. This may be complicated by your own strong emotions about the experience. It is normal to be sad or angry after losing your job. Learn how to navigate this situation in an interview, and how to prepare in advance to ensure that being laid off does not diminish your employability....

Common interview questions about supervisors include asking you to describe the best and worst bosses you’ve worked for, what you expect from a supervisor, how you handle a boss who’s wrong, and other questions related to relationships with your superiors. What the Interviewer Wants To Know Your responses to questions about previous supervisors will give interviewers a sense of how you’ll work with your next manager. These questions also elicit information about your loyalty to former managers (and to previous companies where you’ve worked)....

Separate Yourself from the Other Applicants It’s not uncommon for employers to receive hundreds of applications from eager job seekers, with most of them meeting some or all of the job requirements. Employers make hiring decisions by comparing these various candidates. They may ask you to help them decide by asking you to explain what’s so distinctive about you as an applicant, or advantageous about hiring you, during a job interview....

Get insight into the best ways to respond to questions about time management. What the Interviewer Wants to Know Hiring managers are typically eager to find candidates who can effectively manage their own time. For a manager, this means that the candidate won’t need a lot of hand-holding and direction if hired. By asking these questions, interviewers are looking to see if candidates are aware of the importance of time management....

There are more parties to a short sale—the sale of a home that results in the lender receiving less money than it is owed—than the buyer and the seller. There are also the listing agent and the lender. Do not forget about them. Strengthening the Offer to the Seller As far as the seller goes, you can offer them a generous number of days to move out, and that will certainly strengthen your offer....

According to a Robert Half survey, 55% of U.S. employees say that they feel underpaid, even though median salaries are on the rise. Forty-eight percent of workers said that they would ask for a raise if they didn’t receive one before the end of the year. But negotiating with your employer can be scary. Unlike making a counteroffer during a job interview process, asking for higher pay when you’re on the job means risking the status quo....

However, if your request for time off is well thought out, you can avoid (or at least soften) any negative impact. Here are some considerations to take when asking for time off. When to Ask for Time Off at a New Job If you know you need time off for a vacation or other commitments before starting a new job, it’s advisable to broach the topic before your actual start date....

Your Emergency Fund Comes First Regardless of how important your other goals are, building an emergency fund should always come first. An emergency fund consists of money that you set aside for worst-case-scenarios. If you get laid off from work, if your car’s engine breaks or if your home’s furnace explodes, this emergency fund will save the day. It’s your safety net. Many people make the mistake of thinking that their credit card should be used for emergencies....

How to Calculate Interest Before diving into calculations, it’s good to know Principal is the amount upon which interest is being earned. Rate is the interest rate in percent or decimal form and time is the time upon which interest is being earned. The basic equation you should know is: Principal X Rate X Time = Interest Amount For example: $100,000(Principal) X 0.08(8% Rate) X 1 Year (Time) = $8000 Interest To get the total amount in hand at the end of bearing period, you can use this equation: Principal X {1 + (Rate X Time)} = Total Amount In the following calculation, it’s for one year, at the end of which, we’ll have the original $100,000, plus interest: $100,000 X {1 + (....

How Is Fair Market Rent Calculated? Fair market rent is a gross rent estimate that includes the base rent, as well as any essential utilities that the tenant would be responsible for paying, such as gas or electric. It does not include non-essential utilities such as telephone, television, or internet. HUD arrives at the numbers for each area with the help of census data and through renter surveys. Every year, HUD compiles a list of the Fair Market Rents for over 2,500 metropolitan and non-metropolitan counties....

Here are 10 suggestions for ensuring you make the best possible decisions with your retirement savings. Construct a Total Return Portfolio The concept behind “total return” is that you place money into investments to target a 10- to 20-year average annual return. The annual return should meet or exceed the amount you want to withdraw systematically. The investments should be split between stocks, bonds, and cash. One common way to create retirement income is to construct a portfolio of stock and bond index funds, or work with a financial advisor who does this....