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5 Smart Financial Tips to Young Professionals

the staff of the Ridgewood blog

Ridgewood NJ, You might be clueless about managing your finances when you are out in the real world. There is a lot of things to consider on budgeting your money once you get your paycheck or from your
sidelines if you are a freelancer. Unfortunately, personal finance was not a subject taught in high school or college. So, I will be giving out a few important bits of advice to understand money.

1. Learn how to manage your spending.
Most parents taught us about this skill when we were kids. If not, always remember that the sooner we learn about finances, the sooner we will find it easy to keep in order. Perhaps, it is very easy to purchase an item on credit but it is better to wait and save. Do you really want to pay the interest on that item? Or pay it in cash? If you make it a habit to put all your expenses on credit cards be sure to pay it in full on time or you have to pay it in the long years. There is nothing wrong with carrying a credit card especially with the convenience and rewards they offer. Make sure to always pay your balance in full. Do not carry more cards if you are not confident with your spending habits.

2. Keep your finances in order.
When we are starting our career path, the first thing we have in our mind is long-term financial planning and security. It is our main goal once we start earning money. There is a lot of how’s and why’s that we have in our mind. That is why we always need to organize our expenses such as paying rent, utility bills, and loans. It is a lot harder if you are financially independent. First, to solve the problem you have to create a budget. This is the key solution to our financial problems. There’s no way around of keeping track of where your money goes and where it should be going. Always make it realistic. You don’t have to deprive yourself of everything that doesn’t fall in the categories of “needs”. You simply have to make yourself responsible for your spending. In case you need extra cash, make sure to get it only from cash mart licensed money lender. This will endure that you get loans with fair terms and charges. Read moneylender reviews to know which licensed lender gives the best borrowing experience.

3. Be specific on your financial goals.
Always prioritize making your money work for you. Ask yourself, “What I am investing for? What is the long-term goal?” Avoid saving your money for traveling, or saving money for your lifestyle. Get specific with your goals. It is quite exciting and it also helps your financial advisor know where your money should be invested. This is a perfect exercise to decide the amount of risk you are willing to take on. Don’t waste money for something that is not worth your sacrifice. Figure out what you really need. Create SMART goals. This will make your certain ambitions to be specific, measurable, achievable, relevant and timely.

4. Learn the art of the deal.
This is the tool that will serve you well at every step of your career. Getting the first real job is excellent, but it is only your starting point. Negotiation is not only for the billionaire nor presidential candidates, but it is also for everyone. Know how to negotiate. Even if you stay in the job for a long time, you should take advantage of negotiation to increase your pay and benefits.
This has a lot of benefits for you. Not only do you get additional money but you also build your professional confidence. Don’t agree with something that would not be enough. Always consider everything like how much would could you save once you agree with this? What about your retirement plan? What about increasing your savings?

5. Invest your hard-earned money.
Investing is not as mysterious as it seems. It is actually pretty easy. Once your savings reach a certain level, put this in a high-yielding investment. Your choice may include, mutual funds, condominium, or house and lot investments, trust funds or equities. These are already available to retail investors for low opening account. Don’t invest too much in a low-interest earning accounts. Your goal is to maximize your earning. On the other hand, you can also start a small business opportunity. Your main goal here is to grow your income. Think of everything that can make it happen. Perhaps you can talk with financial advisors or your businessman friends. It is better to gain ideas at first before you move.

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February is American Heart Month

the staff of the Ridgewood blog

Ridgewood NJ, The Ridgewood Health Department and the American Heart Association remind you that February is American Heart month. Heart disease is the leading cause of death for men and women in the United States. Every year, 1 in 4 deaths are caused by heart disease.

The good news is that heart disease can often be prevented when people make healthy choices and manage their health conditions. Communities, health professionals, and families can work together to create opportunities for people to make healthier choices.

The Ridgewood Health Department encourages families to make small changes, like using spices to season their food instead of salt. Teachers and educators need to make physical activity a part of the school day. This can help students start good habits early.

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New Jersey State Police Report Phone Scam

the staff of the Ridgewood blog

**Phone Scam Alert***

Ridgewood NJ, The New Jersey State Police is investigating a series of fraudulent phone calls (spoof calls) requesting Social Security numbers from private citizens.

The suspect(s) are using the legitimate phone number, 609-452-2601, for the New Jersey State Police Transportation Safety Bureau office and are posing as New Jersey State Troopers. During the calls, a man with a foreign accent will inform the victim that they are police officers with the New Jersey State Police. They attempt to frighten victims by claiming that they have received multiple complaints associated with their Social Security number.

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DHS, DEA and Bergen SWAT Take Out Heroin Mill , Dealers and Drug Den in Major Sweep

Bergen County Regional SWAT Team

the staff of the Ridgewood blog

Garfield NJ, Acting Bergen County Prosecutor Dennis Calo announced the arrests of FRANKLEY SANCHEZ-JAVIER (DOB: 10/10/1987; single; unemployed) of 232 Midland Avenue, Apt #3, Garfield, NJ; RAIDY ROSA-GARCIA (DOB: 3/23/1994; single; unemployed) of 32 Kipp Avenue, Basement, Lodi NJ; MARIO TAPIA-HERNANDEZ (DOB: 4/9/1987; single; employed at ICS Voice & Data) of 55 Railroad Avenue, Apt. B2, Hackensack, NJ and 113 Lodi Street, Basement, Hackensack, NJ on charges of Possession With Intent To Distribute A Controlled Dangerous Substance (CDS), namely Heroin; Maintaining A CDS Production Facility; and Possession Of Drug Paraphernalia; LUIS OTERO (DOB: 4/9/1985; single; unemployed) of 240 Prospect Avenue, Apt. 505, Hackensack, NJ on a charge of Possession With Intent To Distribute A CDS, namely Cocaine; and Money Laundering; and NICOLE BONILLA (DOB: 9/26/1995; single; unemployed) of 32 Kipp Avenue, Basement, Lodi, NJ on a charge of Possession With Intent To Distribute A CDS, namely Heroin. These arrests are the result of an investigation conducted by the Bergen County Prosecutor’s Office under the direction of Chief Robert Anzilotti.

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Disbarred Bergen Attorney Caught Using Clients Funds for the Second time

the staff of the Ridgewood blog

Paramus NJ, Acting Bergen County Prosecutor Dennis Calo announced the arrest of ALFREDO RAMOS (DOB: 07/19/1980; single; self-employed as an attorney) of 102 Belmont Avenue, Garfield, NJ on additional charges of Misapplication Of Entrusted Funds and Unauthorized Practice Of Law. RAMOS was previously arrested on December 18, 2018 by the Bergen County Prosecutor’s Office and charged with one count of Misapplication Of Entrusted Funds. The new arrest is the result of an investigation conducted by the Bergen County Prosecutor’s Office under the direction of Chief Robert Anzilotti.

In January 2019, the Bergen County Prosecutor’s Office Financial Crimes Unit received complaints from two clients of Alfredo RAMOS, Esq., regarding his failure to disburse to them over $90,000.00 each, which RAMOS had received in trust as the result of two real estate transactions.

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Bergen County Seeks Volunteers for a Regional Team to Respond to Domestic Violence at Police Departments

BergenCountyCourthouse

the staff of the Ridgewood blog

Hackensack NJ, Bergen County Department of Human Services, Division of Alternatives to Domestic Violence (BCDHS/ADV) is currently recruiting volunteers for a regional team that will respond to victims of domestic violence at police departments located in Bergen County municipalities. Volunteers from the community are trained to offer necessary information and referrals to victims at a time when they need it most.

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River Vale posted the lowest Temperature Ever Recorded in New Jersey

the staff of the Ridgewood blog

Ridgewood NJ,in 1904 River Vale in Bergen County posted the lowest temperature ever recorded in New Jersey of -34.

A devastating cold front,known popularly as a “polar vortex,” will move across the Midwest and Northeast this week, keeping temperatures in many places well below freezing for an extended period of time — and wind chill levels at life-threatening lows.

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New Jersey Ranks 4th Highest Credit Card Balances

Visa-Mastercard-credit-cards

the staff of the Ridgewood blog

Ridgewood NJ, Americans are more likely to pay with a credit card than with cash than ever before. With a credit card, consumers can buy now and pay later and earn rewards like cash back and travel points for meeting certain spending thresholds. While credit cards have obvious appeal, they can also be dangerous, and easy credit appears to be saddling a growing number of Americans with considerable consumer debt.

According to the Federal Reserve, Americans owe a record $1.04 trillion in credit card debt. That’s up from less than $854 billion five years ago. According to Ted Rossman, an industry analyst at research group creditcards.com, about 40% of Americans have enough income to pay off their balance  and do so in full every month. For them, a high credit card balance is not a problem.

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EAST RUTHERFORD MAN CHARGED WITH DISTRIBUTION OF CHILD PORNOGRAPHY

Ridgewood _police_theridgewoodblog

file photo by Boyd Loving

the staff of the Ridgewood blog

Ridgewood NJ, Ridgewood Police assist East Rutherford, Lyndhurst, Woodcliff Lake, and Ramsey Police Departments, which participated in the Bergen County Cyber Crimes Task Force in arrest for Distribution Of Child Pornography.

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New Jersey Is the State Where Immigrants Have the 3rd Biggest Economic Impact

the staff of the Ridgewood blog

Ridgewood NJ, With immigration reform remaining one of the biggest policy issues in 2019 and border security taking center stage in the longest government shutdown in history, the personal-finance website WalletHub today released its report on 2019’s Economic Impact of Immigration by State as well as accompanying videos.

According to the American Immigration Council , New Jersey hosts 500,000 undocumented immigrants comprised 24 percent of the immigrant population and 5.4 percent of the total state population in 2014.
604,615 people in New Jersey, including 204,946 born in the United States, lived with at least one undocumented family member between 2010 and 2014.

During the same period, 1 in 11 children in the state was a U.S. citizen living with at least one undocumented family member (180,580 children in total).

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