Financial Management – iFinance Help

Hey There! Welcome to iFinance Help! Your best source for sound advice on personal financial management.

Feel free to browse our articles on the different aspects of personal finance. If you like what you see then please do not hesitate to join our mailing list. Simply hit the subscribe button and you are on your way.

Contact Us

About Us


Having a grasp on your finances is vital. You could easily lose everything if you are not careful. There is no greater tragedy than that. After all, it is your hard-earned money.

That is why it always pays to be smart. iFinance Help is your financial management partner.



Advice On Investing Your Money Wisely

Prevent Individual Stocks

It’s simple to get caught up in the hype of a specific stock and lose all your cash. The issue with individual stocks is that you’re running the risk of money on one business. If the company has a bad quarter or unexpectedly declares bankruptcy, you can lose most or all of your investment over night. This happens more frequently than you believe (I know this from individual experience!).

Never ever Buy Something You Don’t Understand

If you cannot clearly describe exactly what you’re buying to another person so they can comprehend it, then you do not need to buy it.

Invest Pre-Tax and Tax Free Loan First

Investing Pre-Tax cash- This simply implies you’re buying an Individual Retirement Account, 401k, 403b, or other retirement account. For that reason, every dollar you buy among these accounts is not taxed as income, so you will conserve cash on your earnings taxes in the meantime. However, you will pay taxes on money you withdraw later during retirement.

Investing Tax Free Money- Purchasing a Roth IRA or Roth 401k. The dollars you buy these accounts is taxed much like regular income. However, when you retire and withdraw loan from the account, you don’t pay taxes on the withdrawal.

If your employer matches your contributions to your retirement accounts, make the most of that. There is absolutely nothing much better than complimentary money!
Invest 15% of Your Earnings

Regularly investing 15% of your income each month will grow your wealth in a big way. Have the cash immediately subtracted from your paycheck and transferred straight to your investment accounts. Automatic deposit into investment accounts is absolutely the best method to have discipline when it comes to conserving and investing. All you have to do is set it and forget it!

Don’t Be Too Conservative

The opposite of taking too much threat (i.e. private stocks) is to be too conservative when you invest. Keeping all your money in a money market account or CD’s (Certificates of Deposit) is a terrible way to invest your loan!

Yes, these investments are really safe, however they have a really low return on investment. The returns are so low that they don’t even keep up with inflation, so you in fact end up losing loan with time with these uninspired financial investments
Look for Wise Counsel- Pay a Professional

It’s always great to seek sensible counsel about your financial investments from a professional such as a financial consultant or financial coordinator. Hiring a monetary coordinator that takes a percentage of the loan you invest as payment will put a substantial dent in your financial investment returns.

A terrific monetary coordinator will have the heart of a teacher and make sure you comprehend whatever about exactly what you buy.
Be Patient With Your Investments

After Twenty Years of investing, I’m lastly beginning to learn to be patient with my investments. Keep in mind that investing is a marathon, not a sprint. It’s completely normal for the worth of your investments to go up and go down gradually. But as time stretches on, they will usually increase in worth. So be patient if your investments are not performing very well today.

Do not think about your investments in regards to how they are doing today, or the last 6 months, or the last year. Consider your investments in time periods of 20-30 years or more. Taking a long term view helps you keep things in viewpoint.
KISS Your Investments

You’ve probably seen the acronym before. Using the KISS (Keep It Simple Stupid) philosophy is just wise investing. There are a lot of complicated investment techniques where people will attempt to encourage you that you can beat the market.

Those practically never work.

If they do, they don’t work for long.

The best investment methods are extremely dull, however they work like a beauty. The simplest method is to purchase index funds that match the returns of the market as a whole. Another basic method is to invest equivalent amounts in mutual funds covering 4 different classifications:


Growth and Income

Aggressive Development


See The Fees

Investment fees can consume you alive if you’re not careful. There are a number of fees you need to know:

Transaction Costs- The charge charged every time you buy or sell shares of a financial investment. These fees are typically quite low.

Front End Loads- Some mutual funds charge a cost as high as 5-6% of the total amount invested to buy shares of that mutual fund.

Yearly Fees- A charge charged every year you own shares of a mutual fund. These financial investment costs have an extremely large range from just.2% as much as high as 5-6%.

Costs can be actually insidious. Whenever you pay an investment charge, that’s money that does not get invested and never ever has an opportunity to grow. Obviously, the more investment costs you pay, the more investment development you quit over the long term. High charges can actually cost you tens to hundreds of thousands of dollars in financial investment returns over your life time.

Keep Your Feelings Out of It

TV programs and the internet want to depict investing as an exciting, fast moving game of hot stock suggestions and regular trading. The reality is that good investing is really extremely dull.

It’s nearly exciting as watching paint dry.

Don’t check your investments every day. For that matter, do not inspect them each week or every month. Possibly examine them once every quarter.

When you continuously check your investments and see the day to day motions in price, it’s method too easy to get your emotions included. You wind up making bad financial investment choices based on a psychological reaction. Again, I know this from individual experience.

Stay Out of Financial obligation

You actually didn’t believe I ‘d forget this one, did you? If you have no financial obligation, you have more cash to invest. The more cash you invest, the more chance you have for your investments to turn into a huge pile of wealth!

If you wish to get out of debt, you can have a look at my Celebrating Financial Freedom online course here (every reviewer has actually offered it 5 stars!).

Investing Doesn’t Have to Be Complex.

Most people think about investing as a complex procedure that they will never understand. But if you find out the fundamentals above and adhere to them, investing your loan will be a much easier (and satisfying) tas

What You Need to Know About Investing

Investing is a crucial aspect of personal financial management. After all, we all want our money to grow. It can be very lucrative if done correctly. However, if you go at it carelessly, then you stand to lose everything you have.

That is why prospective investors need to take into account the rules of the game. You need to get in the proper headspace before you put your money into an investment opportunity.


Checking Your Personal Finances

Making a profit on an investment is always a cause for celebration. However, investors need to understand that those investments do not exist in a vacuum. Rather, you must understand that they are inextricably tied to the rest of your personal finances. To put it simply, your ability to make a profit, or even partake in an investment, depends entirely on the overall state of your finances. This is why you need to have a complete grasp of your financial capacity before you take on an investment opportunity.

Unfortunately, this is a simple principle that often goes ignored. For instance, there are a lot of investors nowadays that go to the stock market in spite of their massive debt. This is because they are pinning their hopes on striking gold on a hot stock in order to solve their financial woes.

Not only is this ill-advised, but it is also counter-productive. Risking it all on the stock market can do more harm than good, especially if you are pursuing an overly-aggressive investment scheme. You actually run the risk of losing everything you have left. We recommend that individuals suffering from debt problems solve that first, before pursuing any investment options.


Be Mindful of the Costs

Many investors tend to forget that investing can be pretty costly. This is because you get charged for every trade you make. So, every time you buy or sell a stock, you will have to hand over a trading fee. While these may seem small enough, they can easily lead to losses if you are not careful, especially if your investments do not pay-off.


The Importance of Doing Your Homework

Investing may seem easy enough at first glance. However, investors need to understand that It also entails extensive research and a clear understanding of how the market works. After all, a hot stock may not be all it appears to be.

You simply cannot approach investments as you would a gambling game. You simply cannot go all in and hope for the best. While there are risks in both contexts, the stakes are simply not the same. After all, we are talking about your life’s savings.

So, putting all your eggs in one basket is the worst advice you can take when it comes to investments. That is why investors need to diversify their portfolio. Invest in as many different types of companies and stocks as you can. This way you reduce the overall investment risk.


This article presented a couple of things you need to know about investing. If you are serious about pursuing that investment opportunity, then always keep these tips in mind.

Stock Market Timing Advice and Strategy

Stock Market investments can easily turn lucrative if handled properly. However, there is no single approach to investments that guarantee a return. That is why investors need to be made aware of the fact there is more than one way to play the game.

People are usually at a loss when it comes to the proper timing of doing trades. There is no one answer to this question. It all depends on how you approach the investment in the first place. This article presents the different strategies used by stock market investors. It provides an in-depth analysis of how each strategy works. This tips from Larson Wealth Managers should help you decide which fits your investment style best.

Buy and Hold

The buy and hold strategy requires a lot of patience and vision from the investor. In order for it to work, it requires investors to stick to their guns. This is because this strategy works under the assumption that stock prices are bound to rise in a few years’ time. The logic behind this being that the economy will keep expanding in the coming years. In so doing, so will a company’s profits – thereby increasing the stock prices and stock dividends.

Of course, this strategy also factors in the fluctuations and rising inflation. But, as stated earlier, the buy and hold requires a lot of patience and vision. In the end, proponents of this investment scheme hope that these fluctuations will be resolved in due time.

There are benefits to this investment approach. Primarily, it dramatically reduces trading commissions and taxes on the part of the investor. This is because holding stocks longer entails having not having to buy and sell stocks often.

Market Timing

The Market Timing strategy is the exact opposite of buying and holding. Proponents of this strategy work under the assumption that investors can effectively predict market behavior. Particularly, they believe that you can tell when a certain stock will rise and fall.

So, under this strategy, the perfect time to buy is when the markets are experiencing a slump. At the same time, they believe that the best time to sell is when markets are at a high. This is so that investors can maximize the profit margins. In order to do this, market timers make use of technical analysis, fundamental analysis, and their personal intuition.

Of course, this strategy has come under fire more than once, as its effectiveness has been questioned. Many financial experts believe that effective market timing is impossibly hard. This is because it is hard to predict stock behavior. While Market Timers assume that low stocks will only get higher as time passes, there have been actual cases where their prices would fall even farther.

Another disadvantage of this would be mounting commissions. This is because Market Timing requires investors to trade often. You may not realize it immediately, but the trading fees will eventually eat away at the profit.

These are just a few examples of stock market strategies available to investors. It all depends on how you approach your investments. So, make sure that you take time before going with one.

Finance Options You Can Have to Start Your Business

Starting a business is no laughing matter. It takes a lot of hard work. While you get to be your own boss, it also means taking on heavier responsibilities. More importantly, it also represents a huge leap of faith.

Starting a business is a massive task in itself. Finding the source your financing in this economic climate will certainly be a challenge.

This article presents budding entrepreneurs with finance options you can have to start your business. Just keep in mind that each of these options have their own set of pros and cons.


Getting a Bank Loan

Going to the bank for a loan is perhaps the most obvious option available to prospective entrepreneurs. While it is true that lending standards have become much stricter over the years, big banks have also set aside additional funds to be allocated specifically for small business loans.

Most banks offer additional services to help their clients through the process of starting their business. These services vary per institution, so make sure that you explore the different options available to you. Of course, you also have to remember that you need a good credit score in order to avail a bank loan.


Using a Credit Card

If used properly, your credit card can give your cash flow that much needed boost. However, prospective entrepreneurs need to understand that using your credit card to secure funding for your business can be pretty risky. If not managed well, this loan may actually do more harm than good.

On top of this, you also have to ensure that you do not just pay just the monthly minimum amount. Doing so will definitely lead to more serious financial troubles down the road.



Crowdfunding is one of the newest ways to secure funding. It is simple enough to do, just go to these crowdfunding sites and set up a page. The site will let you set a goal and you will have the chance to raise that amount over a certain period of time.

Your friends, family, and even complete strangers will use the site to donate money. Keep in mind, however, that this option is not available for long-term use. It can only go so far as to help you secure the initial funding to get the ball rolling.


Tapping into Your Retirement Fund

Using your retirement fund is another option if you want to secure funding for your business. In fact, there are even provisions in the tax code, that help you do so without being penalized for it. However, it can get very technical, so make sure that you find professional help.

While this may seem like the most convenient option, after all you will be using your own money, there also risks that come with it precisely because of that fact. Worst case scenario, if your business enterprise does not work out, then that would also mean losing your savings.


There are many ways to start your business. These are just a few of the funding options available to prospective entrepreneurs. Think long and hard before making a decision.

The Best Way to Understand Personal Finance

If you are just starting out, the very idea of managing your personal finances can be pretty overwhelming. After all, contrary to popular belief, there is more to money than just spending it. This is crucial since this is the area where many people mess up – with most people carelessly throwing away their hard-earned cash.

It needs to be stated here that personal finance entails a lot of planning and a lot of discipline on your part. Without delving in too deep into the many complicated matters of financial management, this article provides some of the best ways to understand personal finance. Remember, all of these are designed to help you make the best financial decisions available to you.


Creating a Viable Financial Plan

The best way to get started is by creating a financial plan that is perfect for your current situation. This means creating a personal budget. This is perhaps among the most vital aspects of any personal finance plan. A well-made budget should perfectly illustrate an individual’s spending patterns. At the same time, it should also allow you to craft a spending plan that fits your monthly income.

Making the budget is easy enough. The first step would be to gather all the financial information available to you. Keep in mind that your goal should be to make the most detailed budget plan possible. The more nuanced it is, the better.

To start things off, list down your monthly income after taxes as well as any additional income flow you might have. After that, get all your credit card bills, utility bills, bank statements, pay stubs, investment account statements, and all the other financial information you can get your hands on. Make a table, or a simple spreadsheet, with two columns – one for your monthly income and one for your expenses.

By doing this you will be able to determine how much money you have left over for a given month. Once you determine your spending patterns, you can adjust your patterns accordingly. If you are looking to save, then identify the expenses that can be trimmed down.

Understanding personal finances need not be so complicated. Review your budget plan regularly. Do the steps every month. Determine whether you are following your budget plan or not, so you can modify it if necessary. Just remember to be firm and follow your plan.

Alternative Sources of Business Growth Finance: Ways to Fund Growth

One of the daunting challenges budding entrepreneurs have to face is finding the funding necessary to spur the growth of their business. This is made even harder for business deemed ‘high risk’ by traditional lending institutions, as low credit scores and limited business history can often get in the way of securing financing.

Fortunately, there are now alternative ways to secure financing for your business. This article presents some of the options available to entrepreneurs looking to fund the growth of their business.



Entrepreneurs are given two popular crowdfunding options – equity and reward crowdfunding. The former entails selling pieces of your company to potential investors. This is particularly popular in fast-growing industries.

The latter option, reward crowdfunding is much simpler. It does not require you to take on additional partners, rather it just entails that you give your investors rewards in exchange for their contribution. This is particularly useful, and can even be used to expand the reach of your business by tapping on a new section of the market.


Credit Card Stacking

This is actually an inexpensive option to secure business financing options. This is best used by low-revenue businesses and startups. It is simple enough to do, just use different credit cards in order to reach a total credit limit that meets the amount you need.

You can ask lenders to do this for you. They will choose the credit cards with the highest credit limits for you. It can be rather tricky, so be mindful of the payments when the collections start. Otherwise, you may be creating more trouble for your business.


Inventory Financing

This particular financing option is only available for retail businesses. It works by having a lender give you the necessary funds in order to buy the items you will then sell at your store. This removes the pressure of having to come up with the capital necessary for expansion, as it gives you significant breathing room.

The additional financing for your expanded inventory will certainly give you that much desired flexibility in terms of controlling the additional revenue that comes in.


Online Loans

Online Loans are very similar to bank loans. The only difference being that online loans usually have higher interest rates. This is because securing these loans is also significantly easier when compared to bank loans. It should also be noted that online lenders are much more responsive and have a quicker turnaround time than most banks – taking just a few days to a couple weeks to process a business loan.

Of course, entrepreneurs will also need to take time and work through the details of the loan. This is crucial so that you know what you are getting into. Make sure that you make use of a business loan APR calculator in order to determine your interest rates.

On top of that, you should also pay attention to the fine print and examine how often payments need to be made. It is up to you and the lender to determine whether you will be paying weekly, monthly, or annually.


Seeing one’s business grow and prosper is every entrepreneur’s dream. These are just a few alternative ways to secure the funding you need to ensure your business’ growth.

How Much Does It Cost to Invest in the Stock Market?

Investing in the stock market can be a very lucrative enterprise, especially if you know the rules of the game. In the world of personal finances, keep in mind that there is no such thing as a free lunch. For instance, aside from the money needed to invest in an asset, there are also additional costs.

This article explains the costs of investing in the stock market. Prospective investors need to pay close attention since this is very important, especially if the amount in your investment fund is limited. These additional costs can really affect your investment money if you are not careful.


Mutual Fund Fees

Mutual Funds offer a number of advantages for beginners. They are also more cost-efficient. This is because regardless of the amount you invest, the fees remain the same. You just need the pay the minimum amount in order to open an account, then you can proceed and invest smaller amounts in the following months. This system is called dollar cost averaging (DCA).

Of course, we would be remiss if we did not tell you about the management expense ratio (MER) for mutual funds. Basically, this is charged annually by the management team. The amount is determined depending on the fund assets.



Right from the start, before you even open that investment account, investors need to bear in mind the costs you will inevitably incur every time you purchase investments once that account is activated. So, every time you purchase an investment, be ready for additional costs. Oftentimes, these come in the form of commissions.

If you trade constantly then Investing in stocks can be surely become quite costly. This is because of the trading fee incurred every time you trade stock. This applies to both buying and selling of stocks. It can cost $10 to $30 per trade. Investors with smaller investments will surely feel the effects of these costs more than those with larger amounts at play.

In order to illustrate this point, imagine that you have $1000 to invest. If you buy stocks from five different companies, then you will automatically incur at least $50 in trading costs. It may not seem like much but that is already 5% of your total investment money. This is already a 5% loss on your investment before you have the chance to earn money.

Now, in the event that you decide to sell these stocks, you will also be charged another $50 to make that trade. So, the simple acts of buying and selling these stocks can already cost you $100, or 10% of your initial deposit. In such a scenario, you could already lose money. More so, if your investments did not pay off.


Investing costs money. Every step of the way, you need to be ready to pay the extra fees. These can easily deplete your funds if you are not careful.

This article presented some of the basic costs entailed by stock market investments. Keep these things in mind if you are truly serious about pursuing that investment opportunity.

Investing in the Stock Market

For prospective investors, the stock market can seem enticing and intimidating at the same time. You would not be wrong as investing in the right stocks can lead to a very lucrative payout. However, like with any other investment scheme, there are also risks that come into play.

This is why investors need to have a grasp of the basic rules when it comes to stock market investments. You need to be mindful of how the market itself works. Otherwise, you will be left grasping for straws.

This article presents some of the basic things you have to know about investing in the stock market.


Being Aware of your Financial Situation

People should understand that managing personal finances is really no different from running a business. You need to keep all aspects of financial life in order. In particular, prospective investors should take care in ensuring that they have a healthy baseline. This means carefully assessing your financial situation first before proceeding with any stock market investment opportunities.

For instance, this can mean monitoring your personal debt levels. It is ill-advised for investors to insist on an overly-aggressive investment strategy in order to hide their debt-ridden finances. This is a common mistake among many investors. Not only is it risky, but it is also counter-productive.

Take note that if you are having debt problems, the stock market is rarely the solution. Instead, you should focus on ways to normalize your financial situation and getting rid of all that debt. Once you have done, focus on ways to establish an emergency fund.

Of course, turning a profit on an investment never fails to create a positive feeling among investors. However, you also need to keep in mind that your investments do not exist separately from the rest of your finances. They are but one aspect of it.


The Stock Market is Not Las Vegas

A commonly held misconception about stock market investment is that it is nothing more than a scheme to get rich quickly – like getting lucky at a casino. If you know what you are doing, then you know that nothing is further from the truth. Investing in stocks is not about getting a lucky break.

Serious stock market investments entail hard work and research. For instance, investors need to develop a trading discipline that keeps losses at bay. At the same time, you cannot put all your eggs in one basket as the risk is simply too high. This means making sure that you diversify your investments. Look for any opportunities that present itself, and assess if it is worth being part of your portfolio or not. Diversification may seem like boring work but it pays off in the long run.


These are just some of the things you need to know about stock market investment. Always keep these in mind. Make sure that you carefully assess each investment opportunity that comes your way. Weigh all the risks and potential pay-offs, and more importantly, determine whether your finances are ready for it. After all, it is your hard-earned money going into these investments

3 Steps For Making Better Financial Decisions

Whether we like it or not, we deal with financial decisions each and every day, so it is very important for all of us to better understand how to manage them and come out ahead. Having a better understanding of what good financial decisions are will enable you to save more money in the long run and avoid wasting money on things you don’t need, on bad investments or bad decisions.

Write Down Your Monthly Expenses

The first step for better financial management is to be fully aware of what expenses you absolutely have to make each and every month. These include bills, rent, repaying bank loans, any insurance you make have that charges you a monthly or quarterly fee, food, etc. Write all of this down and come up with a number. Now that you’ve written this down you know exactly how much you absolutely need to pay every month. This will automatically show you how much money you are left with from your monthly household income after paying for everything on that list. So you know exactly how much you have left to spend.

Plan A New Budget

Now that you have this information, you know exactly what money you are left with each and every month. So next up, make a list with casual expenses you may have. Stuff you kinda need but aren’t 100% necessary, write all of them down as well. Finally, identify stuff you spend money on regularly that you don’t really need at all. These are whims and can be easily eliminated with a little discipline, to enable you to save more money each and every month. That’s not to say you should completely eliminate them. Everyone likes to indulge in the casual weekend away from home or an impromptu day at the mall. It’s important to limit the number of these expenses though, not completely eliminate them. Aim at cutting at least half of these expenses and you’ll save a good amount of money each and every month. You’ll soon realize you were throwing a good amount of money away needlessly and can actually live a fine life on a smaller budget, being just as happy.

Make Smart Investments

Instead of paying high energy bills, maybe its time to invest some of the money you’ve saved into more cost effective home appliances. if your car is costing you too much in maintenance and fuel, maybe switch to an electric one. Investing in stuff that will save you money on the long run is always a good idea.

These tips might seem simple and straightforward, and that’s because they are. Use them and your finances will look better with each passing month.


Understanding Loans Before You Borrow

If you need to get a loan it’s very important to understand how everything works. When having a full understanding of the ins and outs of borrowing money you’ll be able to have a better grasp on when you should get a loan and when you should avoid it. Also, you’ll be able to decide what type of loan would better suit your needs and how to get the loan that is most beneficial to you.

So what do you need to do in order to get a loan? What’s the price of borrowing money? Why, more money of course! When you borrow you obviously have to pay everything back plus a little extra in the form of interest. That’s the way loans work, but you knew this already in theory. Costs are a crucial part of acknowledging how loans work and will help you make much better choices about what types of loans to target. Some lenders might not make it easy for you to understand all the costs involved, so it’s always a great idea to check the numbers yourself.

For most loans you can use a Loan Amortization Calculator to understand how everything works. If you want to fully understand how the numbers work, use a spreadsheet and play around with the numbers by changing the variables. Costs can be tough to understand sometimes, so spending some time to get a complete picture in this area will prove valuable to you in the long term.

How Paying Back Your Loan Works

A loan qualifies as a loan by definition if you repay it. Repaying your loan sounds simple enough, as you’ll pay it gradually over a pre-determined period of time. You’ll be making monthly payments that account partly for the loan balance, and also a small portion in interest. You’ll do this until the entire amount is paid. Loans can differ in terms however, as you can get a loan and repay it over very long terms, or very small terms. When having to repay over small terms, your monthly payments will naturally be higher, but you’ll also have to pay them for shorter amounts of time. When going for a big loan on a 30 year term, the monthly payments might not seem that much now, but have to take into consideration that things might change for you 10 or 20 years from now. So when you do commit to a 30 year loan, understand what it means for future you and be prepared to manage it.

How To Qualify For A Loan

When requesting a loan, the lender will look at your file and determine if you are eligible for a loan. To qualify for a loan, the easiest way is to have a good credit score, as this will show lenders that you’ve paid off loans in the past and you are very likely to repay that loan. You’ll likely get the loan on a reasonable rate too because you’ll be deemed low risk. If you have poor credit however, you can still get a loan. You may need to also offer something as collateral to secure the loan – this will allow the lender to sell something of yours if you are unable to pay your loan back – but you will also have the option of getting somebody you trust with a good credit score to co-sign the loan. Obviously, they have to trust you as well because if you are unable to repay the loan, the lenders will ask them to do it for you.

Use this information to be better prepared before applying for a loan. Your chances of getting it at a good rate will surely improve.