Finance 31 October 2018
"It's a spooky time of year, but your finances shouldn't be scaring you. Most of us share concerns about our money and our financial futures. It's normal, and even healthy sometimes, to be on alert when it comes to your finances. But as with any fear, your financial terrors shouldn't rule your life. Here are some tips to deal with some of the most common worries so you can leave the scaring to the ghosts and the goblins.
Many fear that illness or medical emergency involving themselves or a loved one will leave them bankrupt. This is certainly a valid fear as medical catastrophes account for the highest number of bankruptcies. Keeping an emergency fund and being informed of what your health insurance covers are essential preemptive measures to take.
If the situation does unfortunately arise, ask the hospital for an itemized bill and review it carefully. Ensure that each item was actually provided during the hospital stay. If not, bring it to the attention of the hospital. Additionally, health insurance companies change their billing codes frequently. If you were charged for something that should've been covered by insurance, your doctor may have used an old code. Give your an insurance company a call to try to remedy the error.
Paying for retirement
Another of the most common financial fears is not saving enough money for retirement. Over the past several years; the pension changes, the outlook for social security, and the increase in lifespans have all caused heightened concern about retirement savings. Young people, in particular, are concerned about whether they'll be able to save enough. Thinking about retirement can certainly be stressful and scary. You may feel as though you'll have to work forever or that you'll be unable to maintain a comfortable lifestyle.
The best way to ease your mind will be to start saving as early and as much as possible. By beginning your savings as a young adult, you'll create the habit. Then, you won't even notice the money coming out of your account. Research how much your employer will match. And remember that retirement funds use compound interest. The earlier you put money into a 401(k) or an IRA account, the more it will grow over time.
Affording your child's education
Tuition rates continue to rise every year. Therefore, being able to send your children to college has become a prominent financial fear. Young parents are especially concerned about saving for their children's future because they may still be paying their own student debt. But it's never too late to start saving. You can create a savings plan at any given point. Saving something is better than saving nothing.
Additionally, creating a cost analysis for what's needed to pay for your children's schooling is sensible. This process can start around the time your oldest child is 10 or 11. You'll then be able to use this to create a savings plan. Figure out how much will be reasonable to save each year, then break it down by month.
You may also wish to discuss the cost of college with your children with age-appropriate conversations. Help them understand the significance of the cost to ensure they take it seriously. As they get older, emphasize that hard work can help them earn scholarships, which can save money. Discuss other ways in which they may be able to contribute to their college fund, such as getting a part-time job.
Losing your job
Whether it's getting fired or laid off, losing your job can be a major blow to your financial situation. Once again, it's best to be proactive to prepare for the worst. Continuing your education or learning a new skill can help make you a more marketable job candidate in case you're let go. If you have an annual review with your current boss, use this as an opportunity to gauge your status. Get a feel for where you stand and what the future of the company may look like. Additionally, at any point during your career, having a few months of living expenses saved up is a wise move.
Being held back by debt
Many people have accumulated significant debt and may fear that their debt is insurmountable. They may also be afraid of how their debt will begin to creep into other parts of their lives. Debt can affect you in a vast number of ways. It can affect the types of loans you qualify for, your mental health and even your relationship.
You may be afraid your significant other will find out how much debt you have. You may wish to keep the information to yourself and work it out alone. To face this fear, the first step is, to be honest with yourself. From there, find out how much debt you have and make a plan to tackle it. Then sit down and have a frank discussion with your significant other. You may feel better after just having the conversation.
Facing your debt head-on, and being honest with yourself and your loved ones, will help prevent you from feeling as if you're drowning. This will help your overall financial situation. In turn, your relationship with money will improve.
Having fears about your finances is entirely normal. Many of us have worried about money and what might happen to our money in unfortunate situations. But, as with other fears in life, it's essential to manage your financial worries. By being proactive and honest with yourself, you can make your financial situation less intimidating and more manageable.
3 Min Read
I am a proud Black business owner carrying a line of lip colors for the woman who wants to shine. At Vatarie Cosmetics you can find cruelty-free and vegan lip care products, including clear lip gloss and liquid matte lipsticks. The line is still under development, so there are more products in the making that you'll hear more about soon!
My products are high-quality and it is my dream to take my brand into high-end storefronts across the nation and even across the globe.
I have worked my way into my entrepreneurial career as I did not come from money. The goal of my cosmetic line is to bring excitement to everyone who tries the line. My products are high-quality and it is my dream to take my brand into high-end storefronts across the nation and even across the globe. I believe that with added makeup and a good set of threads, anybody can confidently face the world. I am a proud and firm supporter of the Black Lives Matter (BLM) movement and a proud member and supporter of the LGBTQIA community.
There have been plenty of hardships that I have had to face throughout my entire life, the most recent being the recent death of my father who passed far too soon. I have never allowed these hardships to deter me, and won't start now. I will continue to progress and work hard to build my business, knowing that this is what my father would have wanted.
About the Vatarie Line: What It's All About
Upon launching the line, I had the mission of inspiring every human to find their inner beauty and to have fun along the way. With this in mind, my products are designed for people of all genders, races, religions, and creeds. The Vatarie line will have more to offer customers very soon as I am continually working on developing products and expanding the line. In addition to the lip colors currently offered, the line will soon include highlighters, eyeshadows, and new lip gloss additions.
I believe that no one needs makeup to validate themselves, and we are all beautiful on our own. I do believe, though, that makeup can make life a lot more fun. Now more than ever we are living in a world where there is so much sadness and darkness. Sometimes all we need to change our moods and get away from that darkness is something to help us feel better and more vibrant — this is where a pop of makeup and a well put together outfit can really make an impact.
Now more than ever we are living in a world where there is so much sadness and darkness.
I encourage everybody to embrace their inner beauty and inner style, and express themselves no matter what. My line of products is inspired by high fashion and designed to make a bold statement. The running theme across my products is empowerment at every stage and level. I create products that make my customers feel happy, and I ensure I am happy myself with my products before I release every single one. There is no place for cutting corners as I believe in producing the highest quality product.
I bring my sense of humor and quirky personality into my products and you can see this in the names of each item. Take the lip color "Blood Money," which signifies all the money, tears, sweat, and yes, blood that was put into the brand. Let me tell you, it was hard work, and it still is hard work, but at the end of the day, it fulfills me to know the type of quality I am providing. It gives me great pride to create a line of legendary products that will positively affect someone and bring them to a place of self-love and acceptance.
About the Past that Gives My Business Meaning
I have struggled over the years with mental abuse that has left me feeling as if "I wasn't enough." Added to that, being a Black woman in an industry that is predominantly dominated by other races, I had to work harder to get to where I am today.
Coming from a broken home, my family struggled with addiction, making my entire childhood a miserable nightmare. My mother abandoned us as she was being physically abused, and it was up to us the kids to do everything necessary to take care of the home and each other. We eventually ended up living with my grandmother in Miami, Florida. At a very young age, I had to endure physical and mental abuse and was locked up. At the age of 22, I lost my younger sister to gun violence and found myself raising her one-year-old son as my own.
Being a Black woman in an industry that is predominantly dominated by other races, I had to work harder to get to where I am today.
While my past was a rough one, it is what has made me the strong, independent, and vibrant woman I am today. That woman strives to be her best every day and works tirelessly to provide a line of only the best cosmetics products. I couldn't see this while I was living through those bad situations and struggling to grow up, but I can look back and see how I was made more resilient because of my hardships.
As I grieve over my father's recent passing, I become stronger. It is this added personal strength that will push me forward in everything I do and will be reflected in my work ethic and in the development of new products for my Vatarie line of cosmetics.