|Springtime Family Fun (Planning)
The weather has been cold and bleak for the past couple of months. Your family has had to dig in and stay inside. Well, it’s almost time to get out and into the sun again. Spring break is a wonderful time to build family camaraderie. There are many great activities you can do with your family as you travel or stay in town, like attending a minor league baseball game or backyard camping.
Check out these 10 fun things to do with your family on spring break and make some outstanding memories.
1. Hit the Beach
2. National Parks
4. Rent an RV
5. Backyard Fun
6. Cook Together
7. The Outdoor Project
9. Wacky Destinations
10. The Food Tour
Finances – Security for Your Assets
With years going by, advancements for many technologies will become a reality. A somewhat lengthy list of six things below will help guide you to the sense of security you deserve!
1. Review all jointly held accounts. Any money you deposit into a joint account with your children, elderly parents, roommate, or business partner is at risk. If the joint owner files for divorce, incurs a tax lien, or lawsuit judgment, the entire account could be wiped out.
2. Increase your liability insurance. Your first line of defense in litigation should be insurance. Call your insurance broker and increase your liability limits. Make sure your personal umbrella liability coverage is for an amount at least equal to your new net-worth.
3. Consider keeping assets separate. Depending on the state in which you live and the source of your windfall, if you deposit the money into a joint account with your spouse, this money could instantly become half theirs. For some, this isn’t an issue, but for others, this could pose a problem. For example, if you have children from a previous marriage and commingle an inheritance you receive with your new spouse, your children may get less than you expect when you pass away. This problem becomes even more damaging if you are contemplating a divorce.
4. Protect yourself from renters. If you have a rental property or expect to invest in rental property after receiving your sudden wealth, create a business entity such as an LLC or corporation to shield your other assets from a disgruntled tenant. By doing this, if your renter sues you for $5 million, they can attack the assets in the entity that holds the real estate, but the rest of your personal assets are protected.
5. Create business entities to shield assets. If you have a small business or do part-time work on the side without having a formal business structure such as an LLC or a corporation, you are operating as a sole proprietorship. The “sole” means it’s just you, so unlike a partnership, you don’t have to worry about a partner’s actions . . . but all of your personal assets are at risk if you are sued.
6. Formalize informal partnerships. Business partnerships are ticking time bombs. Why? Just like joint accounts, you are responsible for the actions of your partner. But unlike a joint account, a lawsuit against your partner can put all of your assets at risk. For example, suppose you and a friend have an informal agreement to partner and provide consulting services. If your partner is involved in an accident on the way to a client, your personal assets can be in jeopardy.
Personal Interest – Time Budgeting
What to Spend Time On
Although getting organized, and staying organized, takes time, it’s worthwhile to budget your time for it. Think of these two ideas, kind of like different budgets. You can choose either one, or both, to budget your time.
Utilize a Calendar App
To truly budget your time like you budget money, you need to allocate a certain amount of time for everything. Something that can greatly help with that task is to utilize a calendar app.
If you’ve never used a scheduling application, using one is another way to help you budget your time. What’s more, you may even be able to replace that paper “to do” list you carry around.
Creating routines will also help you to budget your time better. Use the ideas below to save time so you can use it elsewhere in your time budget.
Make Meals Ahead
When you take breakfast or lunch with you to work each day, it takes time to prepare. Starting at home during the evenings makes getting ready in the mornings take less time.
A smart idea is to budget a bit of time to choose clothing each evening to work the next day. That way you’ll quit spending time you don’t have to sift through your closet for the perfect outfit. If you’re worried about wearing the wrong thing for the weather, consult a weather app on your phone first.
Something else you should budget your time for is getting and staying healthy. This includes not only eating right but drinking plenty of water and getting adequate rest. You’ll also want to exercise to get fit.
Just like spending money on what’s important, you should also spend time on what’s important. That’s why you need to learn as many shortcuts as possible.
Schedule Time for Emails
To budget, your time like you budget money, allot certain times during the day to check your emails. Set it up on your calendar so you get a reminder but stay on task the rest of the time.
Have you ever looked for templates in the applications you use? If you don’t, you might be wasting valuable time recreating forms that already exist.
Training and Teaching Others
Budgeting time for training and teaching others can give you more time later. It also promotes teamwork.
Relaxing and Recharging
If you want to continue working productively and at your best, you need to relax and recharge occasionally. That is why you need to budget your time for relaxing and recharging, just like you would budget money for it too.
Setting goals is another thing that you should add to your time budget. Both personal and work goals are important. They inspire and motivate you to work hard so you can achieve them.
A sailor without a destination cannot hope for a favorable wind.
| If one of your Goals is to Buy a New Home in 2020
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Thank you and have a great month!
Home Solutions Realty