World's Richest and the Richies

If you’ve calculated your net worth and find it negative or you look at your budget and get frustrated that you are having a hard time making ends meet, consider the following research study.
The richest 2% of the world's population owns more than half of the world's household wealth. It’s hard to believe this statistic, but it is true. Personal wealth, as opposed to income, is measured around the world by the United Nations. The findings are surprising, for what makes people "wealthy" across the world spectrum is a relatively low bar.
Research indicates that assets of just $2,200 per adult place a household in the top half of the worlds wealthiest. To be among the richest 10% of adults in the world, just $61,000 in assets is needed. If you have more than $500,000, you're part of the richest 1%, the United Nations study says.
Smart money management is the key. Manage your money well. Try online money management or personal money management software.

Plan for your emergencies

The importance of emergency funds has been stressed from time again. A typical popular financial advice suggests that one has to store 3-6 months worth of financial expenses.

More than the emergency fund, what’s important is the emergency plan. If do you have money is the first question, do you have access to that money an important one. So how do you plan for the emergencies? Here are some pointers.

• Have some instant cash at home: This exactly means, have some cash under your mattress. This means that you need access to cash right away for emergencies that do not give you time to stop at the cash machines. We are here talking about paper money. We are not referring to valuables like Gold which might be worth a million bucks but has no value during emergencies.
• Liquid Account: This is the next level of emergency fund. Do not lock all your money into deposits and investments. Have some liquid cash left for emergency and fast withdrawal.
• Credit: Credit cards could be a great savior during emergencies. But it’s not advisable to use them other than real bad emergencies. Make sure you don’t fall into credit card traps.
• Family and friends: Have a good network of family and friends whom you can resort to in case of emergencies. The thumb rule is if you have taken good care of the universe around you, the universe will return the favor when you are in need. Friends and family can provide powerful assistance, but if you don’t need it, don’t take it.

One needs to learn to reduce expenses in the time of emergencies. Proper money management is important during emergencies. You need learn to budget. Budget management is an integral part. You can take help of online money management in this regard.

How to tackle loss of job

In early 2009, the Bureau of Labor Statistics noted that over 40 states recorded an increase over last year in the number of layoffs. In February alone over 600,000 workers were caught up in layoffs. This is an alarming statistics. If you and your family are experiencing a job loss then here are some tips that could help you out.
Set emotions aside. Don’t panic.: Job loss could have a profound effect on your emotional well being. It’s not easy to be separated from ones job. All of us closely identify ourselves with our work and its not easy to stay away from it. However we need to learn to adapt ourselves to the situation. Think what’s next and start planning for your future.

Make a graceful exit: If you are handed the pink slip, it’s very important that you keep your emotions in check and do not panic. It’s better to leave in a good term. You might have to run into the same people again or might even require their help. Make sure that you collect all your settlements. Remember money is very important during a job loss.
Check out and apply for benefits: In the United States, your local Employment Service Center will be able to help you. The Web Site of the U.S. Department of Labor has information on unemployment compensation in the United States. This includes links to the individual sites of many states.
Update your budget: Check your emergency funds. Be open to your family and kids about the financial situation. If you have to implement an expense reduction plan, do it immediately. Start managing your money properly. You can try online money management or free money management software.
Pass the word around: Do not be hesitant, but let your world know about your job loss. Anyone and everyone can give you a good lead. Networking at this hour is very critical.
Be open to new opportunities: It’s the best time to experiment with new field and opportunity. Do not restrict yourself to what you did before. Expand your search and include other jobs that you can possibly do.
Coping with a job loss is no joke. But remember patience pays. Be calm, be patient and all the best.