When it comes to financial education, you are not on your own. There are a huge number of resources on the web, in bookstores, and in libraries.  We offer a number of helpful resources that we invite you to reference free of charge.

Websites for Personal Finance  Government websites that provide individual and family budgeting information and more: FDIC America Saves MyMoney.Gov USA Government-Personal Finance Federal Trade Commission Federal Reserve - Consumer Info.

Other useful personal finance websites: Compare interest rates offered by financial institutions. Compare credit card rates and offerings. Receive your free annual credit report. Review your financial advisor's history.

The Alexandrite Group Newsletter: Money Coaching Tips and Ideas Our newsletters are filled with helpful information and useful tips on keeping your financial house in order. View our archived newsletters here. (coming soon) Request a copy of any newsletter via email. Subscribe to our monthly newsletter. Click here to sign up.

The Alexandrite Group’s Favorite websites for keeping track of the financial markets:

Smart Money
PBS - Nightly Business Report

Money Tips From The Alexandrite Group

Here are a couple of simple tips that will help you, immediately.

Money Tip 1
Don’t spend more than you earn.  If you spend more than you earn, you will never be able to save money for the future. 

Money Tip 2
Live below your means.  For example, if you earn $80,000 and spend $60,000, it counts twice in your favor.  You can save more and you will not need as much money to live.  

Money Tip 3
Pay yourself first.  Put aside money in a separate savings account before you pay any of your bills. Have a set amount automatically transferred every month.

Money Tip 4
Prepare a spending plan that includes your short-term and long-term financial goals.  The plan must include all of your expenses and all sources of income.

Money Tip 5
Don’t sacrifice your retirement savings to pay for college or current expenses unless it is a dire emergency.  There is always money available to pay for schooling and most emergencies.  You cannot borrow for retirement.  

FAQs

What is a budget?
When we suggest to our clients that they make a budget, many respond: “Okay, but what is a budget?”   A budget (or spending plan) is a list of all your planned expenses and income.  It is not a wish-list of income sources, and it’s not a document intended to prove that you are spending too much on any one category.  It is valuable only when is has accurate information. It is a wonderful starting point for you to make conscious spending choices.

Why Pay Off Credit Card Debt?
Anyone can accumulate credit card debt.  Paying by credit card is a convenient way to pay for items and services. Because it is so easy to use, accumulating  In fact, the worst kind of debt you can have is credit card debt because it has the highest interest rate.  Paying only the minimum payment on a $5000 credit card bill would take 25 years and cost you roughly $16,000 in interest. Credit cards should be paid off quickly, so that you don’t end up paying through the teeth in interest.

How To Reduce Debt Without Home Equity?
Many clients ask us how to reduce debt without using home equity. This is music to our ears, because we often advise against using home equity to pay off credit card debt.  The best way to pay off credit card debt is to make a plan that includes reducing how much you use your credit card and increasing your payments gradually.