Crisis in Europe - Austerity Vs Growth: Is There Really a Choice?

Well I'm sure you've already worked it out yourself but you just can't avoid that question, nowhere to hide and nowhere to run. We are pouring fortunes we don't have into trying to keep several countries afloat in Europe while at the same time suffering all the pains of cut backs.

One of the big problems is that a sizeable portion of the general public don't seem to realise that austerity isn't a political doctrine or a strategy; unfortunately it's a fact of life. Given that there isn't any money left in the bank it seems pointless endlessly discussing how we should spend what we haven't got. France and Greece have now both elected political parties who espouse a "go for growth" policy, but however popular it may be with their electorate there's a huge problem with this political dogma. The elephant in the room being the fact that we haven't got the money to invest, it just isn't possible for everyone to borrow the money to give it a go. 

Teaching Kids Financial Responsibility

When you begin at an early age to teach your kids the value of money and the importance of financial responsibility, you are fostering a healthy development that will help them in their future endeavors. It's more important than ever to teach your teen how to be credit card savvy in today's economy. Good credit means a lot and helping your child understand this at a young age will prepare them for when they go off on their own. Here are some tips on how to reveal the importance of financial responsibility and encourage good credit card habits.

Tip 1- Start talking to your teen about what it means to live in the constraints of their financial realities. Discuss the difference between needs and wants since many teens feel the need for instant gratification. Explain that it's more important to live within your means and earn what you spend, as that is the reality for most American families.

Money Myth No.2: The Ultimate Goal Is More Money

The ultimate goal is not more money; the ultimate goal is more influence. Money is just one of the ways for us to get to a place of influence. Money is simply the vehicle - an important one, yes - but a vehicle nonetheless, not the destination itself. The goal is to use the wealth we gain to increase purchasing power, so that we may effectively impact and change the lives of those with whom we come into contact.

The Bible says "money answers all things". (Eccl 10:19) It answers problems. It provides solutions to things that plague our world. So, what you're after is the solution, not the money! Why is that important? It's important because it encourages us to spend our lives looking for problems to solve. Don't wake up every morning chasing dollars. Wake up every morning with the desire to uncover problems! Ask God to show you where you can be of help, where you can be of service. How you can make a difference? When you do that, then you are motivated to earn more money, motivated to create, to take action, to do what's necessary to gain wealth because you have a higher purpose for it.

Is Offshore Banking Dead for Americans?

Offshore banking and offshore asset protection provides individuals with ways to manage their companies and finances as well as assets while still maintaining a fair level of privacy. Furthermore, these strategies ensure that individuals do not lose all their hard-earned assets in legal settlements where their investments are targeted, such as malpractice law suits and divorce cases. Also, the banking system in the United States of America is in a perpetual state of havoc and the law does not think twice about freezing an account whose owner is involved in a legal tussle. It is also for this reason that more and more Americans opted for offshore banking to protect their finances and to provide them with funds for those rainy days.

However, this perfectly legal strategy has for years been used by individuals who take part in illegal activity or who would like to escape the long arm of the revenue and tax collection service. Therefore, most countries have lost millions in tax revenue due to such unscrupulous individuals who would like to evade tax by opening offshore companies. 

Take Steps to Help Plan for Your Retirement

Planning for retirement entails setting up a financial plan that acts as a guide or budget to aid you in saving. Such a plan helps keep in check your spending habits as well as set financial goals that will go a long way in ensuring your financial comfortably later on. The importance of a retirement plan is to ensure you have a substantial amount set aside to cater for your needs. Such a plan incorporates prioritised spending, ascertain income received as well as take into consideration factors like inflation, economic depression and boom.

It is crucial to start saving for retirement after securing employment. Time is of the essence hence the more time you spend in saving, you get to enjoy the compound interest compounded over the long duration. When retirement approaches, ensure you clear your debts to reduce the expenses existent in your retirement period. Having comprehensive expenditure records will aid you in planning hence should be kept safely throughout. Planning for retirement does not come to an end upon your retirement. 

A Trailer for Your Nature Trips

The lifestyle of today is far different than so many years ago. With technology and modernity comes high rise buildings, concrete roads, subdivisions and many more structures to accommodate human needs. Before, you would see trees and enjoy nature almost everywhere you go. Today, we hardly see trees in the city. We have made our earth adjust to the advancements that are more convenient for us. Because of this, going to a place where there is almost no sign of civilization, somewhere you can enjoy the sunset by the sea or mountains is such a treat. So modern people like us look forward to time out of the stressful life. Thanks to cars and other forms of transportation, we can easily go to places where we can bask in the beauty of nature.

Bringing your own car is the best form of transportation when going to state parks and camping sites. Of course, you will have to bring a lot of your stuff. 

A Search For An Explanation Of The 2008 Financial Crisis

My search to what caused the 2008 financial crisis began because I wanted to know the real story behind what happened to our economy and how something like this was allowed to happen. I am sure I am not the only one out there who was tired of the news, politicians, bankers, and professors talking over our heads with words like credit default swaps, derivatives, collateral debt obligations or CDO's and this list goes on and on. What is even more frustrating is that I have a BS in Finance and worked in the financial sector and I still had a tough time understanding all the explanations of this crisis.

Now, how is it that a person who has a degree in the subject and a person who worked in the sector had a tough time understanding the explanations of the 2008 financial crisis? Well, you see, the problem is that there are two very distinct groups of people in America: "Wall Street" and "Main Street". By "Wall Street" I mean the individuals that main street puts in-charge of their financial dealings so that everyone will prosper.