Fighting Poverty Through Education

Education Prevents Poverty

Live within your means-how to do it

Posted in Finding a job

Most probably You have heard this phrase: ‘live within your means.’ But what exactly does this phrase mean?

modern-apartmentVery simply put, when you live within your means, you are able to pay for all the things you need in your life without taking on more debt than you are able to handle. Yet many Americans are believing that there’s only one way to get nice things, and that is to get into debt and get them. Now that could be true for larger purchases like a home or a car, but it certainly does not to apply to many other things that we are needing in life. When you purchase a house, for example, you take a mortgage loan which will put you in debt for maybe as long as 20 or 30 years. Sure, that is a long period of time, but this sort of debt has also many benefits. Interest paid on the mortgage can be deducted from your annual taxable income, and the money that’s yours in the house (the equity) can be applied for other loans. If you make regular mortgage payments, you will also build up a strong credit score.

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How to achieve your goals

Posted in Finding a job

medalWhich goals do you wish to accomplish? What are the dreams you have? Take some time, and think about what dreams you have. Dreams for today, dreams for tomorrow, and dreams for the long term…

Well, you need to know that a lot of goals and dreams do not require having a lot of money at all. To give you an example, you may want to pay a visit to one of your friends who’s living a couple of miles away. Well, just take a day off and go… Or maybe you’re dreaming about spending some extra time with your relatives or family. Perhaps you could take them out for a great picnic in the forest instead of having diner at home. This kind of goals and dreams won’t cost you a fortune, but they actually are really worthwhile.

Fulfilling some other dreams or accomplishing some other goals do require some money though. Maybe you’re dreaming about things like:

Now how will you succeed in making your dreams and goals come true? Well, determination is key, but so is self-respect and self-belief and understanding that you are deserving the life that you’ve always dreamed about.

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IDA accounts part 2

Posted in Finding a job

In general, IDA’s are managed by local community organizations, and IDA accounts are usually held at a local financial institutions, for example a banks or a credit unions. Every participant will receive education on budgeting and saving, but also topics like how to clean up credit. The programs’ length or the sort of training that participants receive may vary.

When the time has come to use the IDA fund, the IDA administrator will write a check to the recipient, such as a college, a title company, or a business equipment vendor, and you’re all good to go. It’s not only that your IDA deposits will be matched so your account will grow rapidly, you will also get financially experienced in the process. While you build up your IDA savings account to reach your goals, you will also be learning how to deal with money, how to set up a financial plan, and how to develop your finance skills.

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What Are Individual Development Accounts (IDA’s) and How to Use Them

Posted in Banking

Just imagine you have a savings account in which for every dollar you put in, you will be matched with one more dollar. You would actually receive totally free money, and who wouldn’t jump at such an opportunity. Well, you could get into such a position via a so-called ‘Individual Development Account’, or IDA, program. Generally, money contributed in an IDA can be used to purchase a house, pay for education cost, or for starting up a new business.

Most IDA programs are sponsored by various nonprofit organizations and a number of companies, though some of them are also sponsored through government contributions. For each dollar you put in, usually the sponsor will be adding $1 or maybe more to your IDA account. Because various groups are supporting various IDA programs, the match level as well as the requirements may vary, but still you will be able to see that, because of regular matches, your IDA savings account will grow quickly. If you want to see if you qualify for an IDA, contact your bank, credit union, your local Housing Authority, or a Community Action Agency staff member.  

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How to save money and live within your means

Posted in Banking

This is part 2 of our tips on how to live within your means and save money

Clothing

You can learn that flea markets and garage sales can be great sources to get quality clothing at modest prices. You can also establish a sort of clothing exchange with your neighbors or friends to trade, for example, your children’s or adult clothes. What  may seem old to you or your friends may seem like new and exciting to other people. You can also go to thrift stores on a regular basis where usually the inventory changes frequently, and start checking out clothing sales organized by service groups or local churches. You may also check out so-called ‘consignment stores’. These stores are accepting and selling used clothes and they can give you money for items that you bring in. You may find clothing for both adults and kids in these stores.

Another advise is to stick with classics when and wherever you can. Classics are usually staying in style longer than trendy outfits and are generally made of longer-lasting materials. Though it could be difficult to find good used children’s shoes, you may be successful if you look for sales, but don’t make the mistake that your child needs $75 running shoes, even is that is the sale price tag. You should instead help them to learn distinguishing between needs and wants.

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Job Benefits: Education and Retirement

Posted in Finding a job

Just imagine that all your training or college expenses are paid for… Well, this may happen when your company offers education benefits.

If you want to break away from the ongoing cycle of badly-paying jobs, in-demand skills is what you should focus on, and the only way to get there is through continuing education. So if you have an employer that is helping to pay for your education, head back to school and start learning, you can the ACT or SAT exam, or if you had a longer break from education take a GED test.

You can easily prepare for the exams free of charge websites. Here are the links to few good free prep:

Your employer’s education benefits may vary from paying for certain costs to a maximum per year, to picking up the full tuition tab for training related to your position. Employers may also opt to furnish a percentage of your education costs, or subsidize a set amount pf money. Regardless of what benefit your employer offers, you should really take advantage of these options. I’m sure it will pay off in the future, and in many ways. What’s important is that it allows you to grow continually, and it will provide you with the tools to turn your dreams into reality.

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How Much Debt Is Okay?

Posted in Fighting Debts

Debt has all too often become a normal element of life. Sometimes we are not realizing that we really have too much of it. Until it begins to eat us alive and rob us of the way we are used to live.  Keep in mind that being in debt for the bigger things in life, for example a home or an education, may have some considerable payoffs.

The problem is in consumer debt! The problem lies in the department store and credit cards, and things alike. On this we really should cut down. Generally speaking, you should use no more than 15 to 20 percent of your after-tax income for consumer debt payments. Take a look at how you can determine how much you can be affording to use for paying consumer debt each month.

Lets look at your annual income, after deductions and taxes.

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