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  • Tag Archives finance
  • 3 Reasons Why Couples with Prenuptial Agreements are Happier (BlackEnterprise.com)

    Peace of mind has its privileges

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    Continuing with the theme from my previous article, I want to explore why couples with prenuptial agreements might actually be happier. In order to position the following points, let me first start by providing a disclaimer that I’m in no way endorsing prenuptial agreements.

    In discussing this particular area with friends, associates and family members, I’ve learned that finances are a very sensitive matter to a number of people. Because of this level of sensitivity, a number of couples are choosing to discuss this matter on the front end of marriage, instead of waiting until divorce is looming and emotions are at their boiling point. Let’s be honest, decisions made when level heads are involved are a lot different than when betrayal, unhappiness and anger take center stage.

    Here are a few reasons why entering into a prenuptial agreement may actually make couples happier in the long-term:

    Your pre-marital assets are protected. As previously mentioned, divorces often bring out the most vindictive thoughts and actions. Many decisions made with negative emotions running high are often intentionally targeted at hurting the other person. With 50-60% of marriages ending in divorce, it is very likely that you or someone you know could be impacted by this unfortunate reality. If a mutually agreed upon plan already exists, then the two parties involved can follow the pre-established plan for distributing assets brought into the marriage in the event of divorce. Knowing this sensitive matter has been addressed on the front end may remove any paranoia about the other person’s motives on the back end.

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  • BlackEnterprise.com: 4 Ways Abstinence Can Save You Money

    If you can stay disciplined, abstinence might help keep your finances in order

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    When I first released my book Can You Do It Standing Up? A Different Position on Relationships, I was constantly asked about my inspiration for writing it. My first reason was to help improve people’s relationships spiritually, personally and interpersonally. My second reason was because I am a BIG advocate for abstinence! In this era of “try it before you buy it,” people seem to be sharing almost everything but marriage covenants. This approach to life has directly/indirectly influenced a shift in our family structure, how people view themselves, how people relate to one another and ultimately the next generation.

    Now before you tune-out, please continue reading to consider how sex can cost you…literally.

    Click here to view on BlackEnterprise.com or continue below…

    Prevention of Pregnancy & STDs – When you examine the price you pay in order to protect against pregnancy or STDs, it can cost you $250-$600/year for condoms or birth control pills. Imagine if you were able to remove this expense and deposit that same amount into a savings or investment account? Or better yet, apply this to outstanding credit card or other outstanding debt?

    Treatment of STDs – Our country experiences 19 million new infections every year. There is an associated cost for treating these diseases to the tune of roughly $13Billion (according to the Center for Disease Control). If you happen to be one of the individuals impacted by an STD, it may result in you having to pay for an unpleasant visit to the clinic for a shot, or ongoing treatment (in the case of HIV, herpes, etc.). You may never find yourself in this category, but if you do…it can cost you.

    Unplanned Pregnancy – I hear countless stories about unplanned pregnancies by women from all walks of life. Whatever led to the pregnancy, there is an associated cost to raise a child. A momentary rush of pleasure can result in a drastic lifestyle shift requiring you to now account for $13,055/per year in order to raise a child. This cost doesn’t even account for some of the additional expenses like activities, private school, etc.

    Abstinence – Abstinence is free choice and is the best measure for preventing against pregnancy and STDs. It will cost you a little bit of mind power for dealing with the many sexual messages promoted daily in our society, as well as the peer-pressure you’ll undoubtedly receive. However, you won’t have to include sex-related activities as a line item in your monthly budget and subject yourself to some of the items listed above.

    There is a commercial that I enjoy that can help shed light on this topic:

    • Box of Condoms (36 count) – $20.79 or roughly $250/year
    • Supply of Birth Control Pills – $180 – $600/year
    • Abortion – $400+
    • Cost to treat STDs for the US Health Care System – $13Billion (according to the Center for Disease Control)
    • Cost to Raise a Child – $13,055
    • Abstinence – FREE
    • Peace of Mind – Priceless

     

    Kenny Pugh is a Life & Relationship Strategist, Author of ‘Can You Do It Standing Up?’, Speaker, Host of the Chat Kafe Radio Show (http://www.chatkafeonline.com), singles leader and sought-after speaker on singleness, relationships, finances and life. You can find more information about Kenny at http://www.kennypugh.com. You can follow him on Facebook at Kenny Pugh or on Twitter @mrkennypugh.


  • How I Paid Off $90,000 In Debt In Three Years (Forbes.com)

    It’s funny how you can do all of the right things–go to college, get a job–and then one day wake up with crushing debt.

    At 26, I was working hard and playing hard in Washington, D.C. I thought that I had everything under control–despite living practically paycheck to paycheck, having significant credit card debt and paying the minimum on my student loans.

    Luckily, someone special woke me up to the reality of my financial situation. It took a lot of hard work–and some serious creativity–but three years later, I’m almost debt-free. Here’s my story.

    The Pitfalls of Free Money

    I knew from the outset of my college search that my parents had limited funds, but that didn’t stop me from attending the University of Maryland out-of-state to get an undergraduate degree in anthropology, and the University of Tennessee out-of-state for my master’s in non-profit education.

    Click the link below to continue reading…

    http://www.forbes.com/sites/learnvest/2013/01/15/how-i-paid-off-90000-in-debt-in-three-years/


  • BlackEnterprise.com: When It Comes to Buying an Engagement Ring, What’s a (Middle Income) Man to Do?

    Zales

    You like it, so you got to put a ring on it. But how?

    I recently had a conversation with a young man named Shawn, who shared how he’s been struggling with a decision regarding the woman he loves.

    He started off by sharing the story of how he met an awesome woman, and how she has exceeded his every desire. The two of them have been dating for over a year, and they’ve discussed all of the core topics including faith, finances, family and how they envision the future with one another. Shawn is ready to move forward with the next level of commitment and wants to propose to her. Everything seems perfect right?

    Here’s his dilemma. Shawn works as a schoolteacher in the inner city and cannot currently afford the ring he knows she wants.

    Click here to continue reading…