The luck of the Irish seems not to be in effect for now, or its powers have been temporarily dulled by the ongoing economic slowdown. Standard & Poor’s, the U.S based financial services company, has cut Ireland’s debt rating from its previous rating to AA minus. The reasons quoted for the revision of the rating was the voluminous cost of trying to plug the leaks in Ireland’s banking institutions. Like banking bodies the world over, Irish banks too are still hard pressed even after concerted efforts were undertaken to stop the hemorrhaging. The news comes on the back of worries among the financial community about the state of Ireland’s finances and market doubts seem to have been correct to an extent. While the Irish government is a safe bet as far as being able to pay up its obligations  [...] 

Normal is a relative thing, and every time now and again we have to redefine that which is relative to us. Over the years this has been an unchanging trend and it is no different today. As the global economy slowly recovers and gets back on track at a snails pace, the world is slowly coming to grips with the fact that there is a whole new reality out there that has created a whole lot of ‘normal’ we might not have known previously. Adapting to this new level normal is the new normal, to use a cliché. It’s not just in an economic sense either; it could be at a personal level or a nationwide level. Think of how 9-11 changed the fabric of American society and its collective conscious. Now that’s a redefinition of normal. Habits once ingrained are very, very hard to break admittedly but  [...] 

It is popular belief that no corporation, no matter how altruistic or well-meaning, ever gives out good advice that might even be completely contrary to their financial interests. Cigarette manufacturers often release anti-smoking ads, only to face much ridicule while casinos that advice gamblers on how to face up to and beat their addictions only receive scorn and derision for their acts. It is quite possible though that some of these companies are not really displaying any degree of hypocrisy or mere lip service when they offer up these messages. The skepticism and wariness is entirely understandable, but there’s no reason to doubt that it’s not well-intentioned. Clearly, each company’s main obligation is towards its shareholders and consequently its own bottom line. The question of  [...] 

If you’ve been following personal finance tips religiously right down to the last letter, you will eventually have got to the point where you have accumulated enough knowledge and money for it to be able to improve your life significantly. You’ve worked harder than the busiest worker bee to get to where you are, you’ve scrounged around and spent frugally, even wisely, and your little nest egg is now the size of King Kong and screaming for your attention. But you have a great job earning you giant pots of money and an investment culture that has paid you rich dividends. What next? Life is much, much more than a system of checks and balances. Indeed, often times we forget that as we scrape the bottom of the barrel for that extra bit of money that we so desperately want, the average man  [...] 

We all know who Warren Buffett is, and that he is one of the richest people on our planet. However, he did not become rich. It started with one thought: ‘I always knew I was going to be rich. I don’t think I ever doubted it for a minute’ He always knew he would become rich, even when he did not have money to meet monthly expenses. And he became rich, simply because he believed it very strongly. Unwavering Belief Everyone leads a normal life, by working few hours a day, enjoying their weekends, and hating their lives. However, few have ‘crazy’ ideas in mind which they believe in. They strive it happen; challenge themselves and other; take the road less traveled, and follow through till the end. This system works similar to a car. If you don’t have gas in your car, it wouldn’t  [...] 

Life after college can be quite challenging with new job to manage and personal finance to handle. Not every student might have worked during their school life, getting less exposure to managing money. Main expenses during college life were food, entertainment, and perhaps, temporary shelter. However, life after college wouldn’t be so simple and entertaining. If you spend like you used to in college, life would be difficult. Here are some tips that can help you take care of your finances after college. Don’t Purchase a New Car Most graduates want to reward themselves for all the hard work they had done in school. And the reward is new car. However, unless you can pay for it in full, don’t purchase. If you had a car in college, use the same one for a while, until you save some money for  [...] 

The only reason why you are not getting a raise at your workplace is because they can replace employees easily, but it’s very difficult to replace a leader. And you are not a leader. When I knew about this truth, everyday I though about what makes a good leader. The person with superb working skills isn’t a leader, at least in today’s scenario. People need a leader with more than just productive approach. Let’s us have a look at essential skills a leader must posses, or rather, how can you transform yourself from a productive employee to effective leader. Speak Up If you have something to say in a meeting, speak up. It may be anything from a simple suggestion to a groundbreaking idea to a doubt. Quite often, we all have good ideas in your minds, but we are afraid of suggesting them  [...] 

I am not an old guy, but I don’t consider myself wise, especially when I talk to guys elder to me. I give lectures on personal finance at various colleges, yet, when I meet old people, I feel under-educated. I feel they know much more than most of us brag about today. However, they are simply ignored by most of us and aren’t given credit for their knowledge. Therefore, without any humiliation, I admit I have learned many personal finance lessons from people over 70, and I would like to share it with all my readers. Here are my personal finance tips. 1.    Be Patient Money is saved over a long period of time. Investing is good. However, one must not invest to earn quick profits. It’s not a 100-meter race; it’s a marathon. Be patient. 2.    Take Risks When Young It’s completely  [...] 

April 2011 is eight months away. But it’s never too early to start planning your taxes, save some money on them. There are several things you can do this summer that can reduce your taxable income considerable income. Tax Credit If you are planning to beat the summer heat by installing cooling tools in your house, you may be eligible to receive $1,500 tax credit on things like windows, doors, cooling systems, insulation devices, and so on. However, make sure these home upgrades are energy efficient. Summer Camp Save some money by sending your kid to a summer camp this season. Huh? Let me explain. If you send your kid (younger than 12 years) to any day camp, the cost may be paid back by Child and Dependent Care Credit. However, there is an exception to this exemption. You may be eligible for  [...] 

You understand that you might need a budget to get your finances on track, or to repay your debts, or meet your financial goals. However, it is possible that your spouse might not agree to this. How do you plan to convince him/her? Besides, if you spouse agrees, how do you plan to get him to stick to it? I am not very sure about the percentage of divorce taking place to due financial imbalances and disagreements. But this is certainly one of the most common reasons of frequent fights among couples. Therefore, I would like to cover few points that may help you convince your spouse to take active interest in your budget and financial decisions. Realize the Importance of Budgeting If you are living from paycheck to paycheck, budget is one of the rarest things that can come to your rescue. You  [...]