5 Deadly Financial Mistakes You Should Avoid Now To Keep Out Of Debt Later!

Every year more families are going to the brink of financial ruin because they never properly considered their financial future. For some, it's just to stressful or emotionally uncomfortable to think about and important financial decisions get put off indefinitely. For many, they do not know and were never taught some basic financial planning tips to keep them out of debt in the future. Here are five financial mistakes you should avoid now to keep your financial future bright:

5 Financial Mistakes To Avoid:

1. Buying on credit: Today's interest rates are fairly low, but this does not mean you should buy excessively on credit! Carrying a large balance on credit cards month to month is a recipe for disaster. Finance charges alone can slowly eat you up. Buying a car on credit ties up even more of your future earnings for debt repayment.

Just a few decades ago buying so much on credit was unheard of. Children were taught early on what a huge mistake this was. We all need to relearn this lesson and eliminate buying on credit to keep ourselves out of debt

2. Making financial decision based on emotion: When you are going through great stress or emotional turmoil you are most vulnerable to making disastrous financial financial decisions. It is when you are feeling some king of pressure that you are most likely to make silly decisions that get you into trouble later. Do not make a big money decision when you are emotionally vulnerable.

3. Not adequately insuring against catastrophic risk: Every year families are financially devastated because they are not protected against disaster. Loss of home and assets to fire and flood are very common events that a surprising number of people do not protect against with insurance. You should also protect against disaster common to your area. Earthquakes and tornadoes for example. Just as important is some kind of life insurance to protect your loved ones in case of death.

4. Falling for the slick salesmen pitch: They say a sucker is born every minute. And you can be sure there is a slick salesmen waiting to take advantage of every one of them! You should never enter into any financial decision based on salesmen pressure tactics or one-time offers. Great deals that can not wait for you to think on it or obtain a second opinion are often financial disasters waiting to happen.

5. Not planning out your financial future: For many people it is so much easier to put off the tough financial planning right now and get to it someday in the future. Well we know how that story goes. Years into the future many families are neck deep in debt with no relief in sight. And it could of all been avoided with some sensible planning. Talk to a financial planner today so you can be debt free tomorrow!

There you have it. Five important financial mistakes to avoid so you can be both debt and worry free in your future. No matter where you are at right now financially, it's not to late to get started. Make an appointment with a financial planner today and get your financial future properly planned out. It's one of the most important things you can do for your family and for yourself.

Work and Study

The relationship between work and study should not be underestimated.

It is important that youngsters in general, and teenagers in particular, get real life experience of what it takes to succeed in the ‘real world’, what it takes to make money, and how hard dad or mum have to work to earn those extra few cents.

Recently a dad talked about the problems of getting his son to study; the family is wealthy and the son saw little need to make any effort to revise, do well in his forthcoming exams, and move onto a university and undergraduate subject with prospects of a rewarding career.

He saw his parents, particularly mum, as a ‘soft touch’.

The harder the concerned parents tried, the more obstinate the son became; the inverse law of proportionality seemed to be at work, or perhaps the law of diminishing returns. Necessity was definitely not the mother of invention!

‘Man he is a Lazy B…!’ complained the father.

At school, the youngster seemed to have learnt a lot about his ‘rights’ – but little about responsibility.

He didn’t realise that ‘rights’ and ‘responsibilities’ are the same bedfellows – they both start with the letter ‘r’!

The current situation was inevitable…

Things changed, however, after our recommendation that the son spend time working in the kitchens of one his father’s famous restaurants over the summer holidays (well, what else did he expect given his parents’ gentler efforts?).

Washing plates to earn his pocket-money was no fun; it didn’t take long before the grades started to improve.

Study was clearly a better option than washing plates in the kitchen.

Take Warren Buffet, one of the richest men in the world.

Warren has a wise head on his shoulders and drives the same old car and lives in the same old house as he did at the start of his career; his common sense has to be respected since his actions reflect his words.

He can afford to live in mansions, drive better cars but through his example has made clear that he intends to give most of his wealth to charity.

Warren believes that his children must learn to earn a living, make their own way in the real world.

The last thing he wants is to ‘handicap’ his progeny by handing over his billions.

Some of the smartest students at The University of Oxford in The Business Management School often spent their summer holidays waiting at tables before they got First Class Honours.

They are now CEOs of major companies, earning a very healthy living.

Consider another example from the world of tennis, the William sisters where Venus and Serena dominated the women’s game for many years.

Their early history is one of being introduced to the ‘Bronx’ by their dad where gang bullets were not uncommon whilst they trained.

The William sisters soon realized that working for success in tennis was a better option than living in ghettos.

Where cajoling fails, direct experience often succeeds.

If you want your children to study more effectively, let them work for it!

My First Diet Program for Fast Weight Loss and Fat Burning to Lose Weight

My first diet program for fast weight loss and fat burning was copied from my sister. She lost a lot of weight, and I did not like the way I looked and thought I would feel better by shedding some extra fat.

Like any dieter, the only information I knew about was "calories." At the time, my sister was telling me that calories caused body fat to accumulate. Being young and naive, I set out to rid myself of calories. I stopped eating, save for an egg and one piece of toast for breakfast, nothing for lunch, and salad and chicken for dinner. I quickly lost 13 pounds.

I felt great when I could fit into clothes that were previously too snug, but became exhausted and just damn irritable and mean. The diet ceased being a diet when I broke down and obliterated myself with an unending stream of food: cookies, ice cream, cake, pizza, etc. – all in a period of six hours.

I felt so mad, discouraged, and upset after that. Instead of getting right back on the diet that was different, but still accomplishing what I wanted, I earned 15 pounds in a few weeks by eating relatively normal. Now, 2 pounds fatter than when I started my first diet, I began to strategize.

I needed a new diet – a better one. Everywhere I looked from the newspaper to magazines, to the library and book stores, I found plenty on the confusing topic of weight loss. I purchased all of it. I read everything. I reasoned I would absorb and digest every bit of info out there on dieting and become an authority!

Surely, if I read everything available relating to the subject of weight loss, I could figure out or find the best diets and disregard the bad ones. Well, in doing so, I became more confused, as I'm sure many of you are right now.

Toronto’s Real Estate Market – The Sky is Not Falling!

I am sure you are just as tired as I am about hearing how terrible the current state of the real estate market is in Toronto, but is it really that bad?

No, the sky is not falling but there is no doubt that the Toronto real estate market has been affected by the US economic slowdown and because of this consumer confidence has also been affected … and some realtors have had to look for a "real job. "

The economic downturn in the states has no doubt had an impact on our economy. We are seeing fewer transactions occurring, (4,120 resale transactions in Feb '09 compared to 6,015 in Feb '08 according to TREB). Along with a reduction in the number of transactions that have occurred, average prices have also come down in comparison to the same time last year. According to TREB, in central Toronto the average price has gone from $ 404,202 (Jan, 2008) to $ 343,632 (Jan, 2009). Homes are also sitting on the market on average longer than the same time last year but what did we really expect? Did we really think last years wacky market of multiple offers and inflated prices would survive another year?

What does this real estate market mean to a Buyer or Seller in Toronto?

This is great news for buyers! This market is a blessing for first time buyers or those wanting home ownership but just could not afford it in the past. The declining average prices and the unbelievably low interest rates are a great combination! It's a Buyers market, so Buyers take advantage of this opportunity … it's a great time to buy! For sellers this type of market means pricing right and putting in extra effort to make sure your property shows at its potential. In the peak of the market, properties could sell the day they were put up for sale, now properties sit for longer but will still sell if priced right.

As we know, the real estate market is seasonal. As the spring market approaches all ready there is more activity in the city core than in the previous month. Just last week I was apart of two multiple offer situations in North York. Generally speaking the Toronto Real estate market tends to pick up in late spring and then begins its descend in July. The Canadian Mortgage and Housing Commission is forecasting that Toronto will see its 6th or 7th best year in history. They are hiring for 75,000 sales in 2009. The next few months will be a great indicator of the state of the Toronto Real estate market. I guess we'll just have to wait and see.