20 Money Lessons for 20 Somethings via Personal Dividends

As a young adult, I'd like to think that I have my entire life to make and save money. Unfortunately, reality has taught me that if I don't start saving the money I'm making now...I'll spend the rest of my life trying to make it. I came across this link in my email that I thought was quite helpful 20 Money Lessons for 20 Somethings.
Briana, the author, takes us on a ride with advice as to how us 20 somethings can be financially smarter. Some of her tips include:

• Overdrafting is expensive
• A budget is necessary
• Don't get too comfortable with loans
• The IRS is watching
• You need a lot less than you think

Check out Briana's 20 Money Lessons for 20 Somethings

The Royal Finances: How much is The Queen worth?

I always wondered why the monarchy was still in existence and how they made their money or from where their finances came from. Conveniently all of that information is found on the Official British Monarchy site. But I also have it listed for you below:

1. There are four sources of funding of The Queen, and those working in support of The Queen as Head of State. These are: - the Civil List, to meet official expenditure relating to The Queen's duties as Head of State and Head of the Commonwealth; - the Grant-in-Aid for the upkeep of Occupied Royal Palaces; - the Grant-in-Aid for Royal travel, for air and rail journeys associated with official engagements; - the Privy Purse for The Queen's public and personal use.

2. Head of State expenditure is the official expenditure relating to The Queen's duties as Head of the Commonwealth.

3. Head of State expenditure is met from public funds, in exchange for the surrender of revenue from the Crown Estate. This amounted to £211 million in the financial year to 31 March 2008.

4. The Queen does not receive any money from the Crown Estate. The annual revenue surplus from the Crown Estate is received by the Treasury.

5. Head of State expenditure does not include the costs of security, which is the responsibility of the Home Office and the police.

6. Only The Duke of Edinburgh receives funding from the Civil List. This amounts to £359,000 per annum.

7. Parliamentary annuities for The Duke of York (£249,000 per annum); The Earl of Wessex (£141,000 per annum); The Princess Royal (£228,000 per annum); and The Duke and Duchess of Gloucester (£175,000 per annum), The Duke and Duchess of Kent (£236,000 per annum) and Princess Alexandra (£225,000 per annum) are repaid by The Queen from her private funds.

8. These repaid Parliamentary Annuities are spent on office costs.

9. The Queen has always been subject to Value Added Tax and other indirect taxes and rates on a voluntary basis.

10. In 1992, The Queen offered to pay capital gains tax on a voluntary basis.

11. As from 1993, The Queen's personal income has been taxable as for any taxpayer and the Privy Purse is fully taxable.

12. The inhabitants of the Occupied Royal Palaces and private Royal residences are subject to Council Tax, as set by the relevant local council.

13. Although The Queen's estate will be subject to Inheritance Tax, bequests from Sovereign to Sovereign are exempt. This is because the Sovereign is unable to generate significant new wealth through earnings or business activities, and to recognise the requirement for the Monarchy to have a degree of financial independence.

14. The Queen does not own the Royal Palaces, works of art from the Royal Collection or the Crown Jewels. These are held by Her Majesty as Sovereign and must be passed to her successor in due course.

And with all of that, The Queen is worth an estimated $420 million...compare that to Oprah Winfrey's $2.4 billion. What she doesn't have in monetary worth, she makes up for in properties, stocks and bonds:

Via Forbes: Balmoral Estate in Scotland, which has a castle and 50,000 acres of woodlands, moors and lochs; and Sandringham Estate, with dozens of houses, 60 acres of gardens and 20,000 acres of forest. The real estate is valued together at approximately $150 million. She also has her own private collections of art, furniture, jewels and horses, worth some $110 million. The rest of the fortune comes from conservative investments in blue chip stocks and bonds.

The Unemployed Entrepreneur

Weddings: Big Business

With this week marking the countdown to the "wedding of the century" and dubbed "Royal Wedding Week," I as an event planner and aspiring wedding planner had to do my part being a part of the extravaganza. On the SOA Event Blog on Tumblr, we discuss different wedding details: royal wedding dresses, locations, etc. On The Unemployed Entrepreneur, we'll be discussing more of the business side of the royal wedding and weddings in general. So sit back and enjoy as I and we take you on a journey into weddings!

Weddings: Big Business

-The average wedding costs approximately $29,000 dollars compare that to the $6.4 million dollars it cost for Lady Diana and Prince Charles' wedding in 1981!

-Brides will spend an average of $1000 and upwards to $10,000 on her wedding dress. Price is determined on how ornate the design, the designer, location, and season. Diana's silk dress with 25 foot train cost $115,000. Speculations estimate Kate Middleton's dress to be twice that amount.

-A man will choose a stone carat (typically a diamond) at an average size of 2.0 carats. The Duchess of Windsor, Wallis Simpson was given a 19.77 carat diamond and emerald engagement ring by her beloved Edward VIII.

-Most newlywed couples travel to the Caribbean's for their honeymoon. The Royal Family has traveled to their own estates in England and surrounding countries.

-The average couple will be together for about 1.5 years before getting engaged. Diana and Charles were together for about 6 months. Kate and William dated for NINE years before he finally proposed!

As you can see, weddings are big business. The average wedding takes a lot of time, energy, and money to put together. But as I posted in Royal Weddings: The Original Stimulus Package, weddings don't just take a lot of money but they make money too. Between the publications, fashions, memorabilia, food, flowers, and trends the wedding industry is a $40 billion industry that is continuing to grow annually. With more celebrities creating trends and brides wanting newer more unique weddings, it's no wonder a bride is willing to spend a small fortune for her "perfect day."

Not sure what the estimated wedding costs will be for Prince William and Kate Middleton, but whatever it is it will reflect the grandeur of the occasion.

The Unemployed Entrepreneur

Money Monthly: Planning Your Business is Like Planning Your Money

The following is a guest post from LaTisha D. Styles at Financial Success for Young Adults, where she writes about investing and money management.

How Planning Your Business is Like Planning Your Money

Every entrepreneur that wants to run a successful business starts with a plan. You may not have had a professionally written business plan but you at least had a plan in mind for what you wanted to do with your business when you started, right?
Planning your business is a lot like planning your finances. It can be easy even if you hate finance. There are some important components to creating a business plan.

Executive Summary

You have to explain what your business is, what you do, and what goals you plan to accomplish; that's your executive summary. That lays the groundwork for everything else you plan.

Marketing Plan

Then you have your marketing plan. And that is what explains how you're going to go about completing the goals in your executive summary.

Financial Statements

Then there are your financial statements, those are the backbone of your business. They outline how you will fund your endeavor and when you will start making money.

Planning your personal finances is no different. The names of the components may be different but the idea is the same.

Life Plan

Your executive summary states what you want to accomplish in your finances. Do you want to be a millionaire? Do you want to retire by the age of 30? You first have to think about your goals and what you want your money to look like.

Career/Business Plan

This is like your marketing plan. Are you going to work for someone else and save what you can? Are you going to create a business to earn income for you? This is when you think about how you will accomplish the goals that are in your life plan.

Budget

So many people hate this word. Budget sounds restrictive. It reminds people of when they were kids and they were in the grocery store with their mom. Remember that? You would say, "Mom can I have this candy bar/toy/shiny object?" And she would say "Put that back! It's not in our budget." I think that's the main reason we have such a negative association with this word. A budget can be as free as you make it. YOU are in charge of what you save and spend. The main point is that you have to have a plan in order to reach your goals.

What's your plan? Do you have a method of attack to reach your financial goals?

Your Network Equals Your Networth

**This is a monthly segment entitled "Money Monday" guest posted by our friend Latisha Styles, Creator of Financial Success for Young Adults.

Join her as she helps the unemployed entrepreneur be more financially wise on their journey to success**

Your Network Equals Your Networth:
How to increase your personal value by adding value to others

College students often dread the word network. I remember when I first heard the term, I thought it was ridiculous. Why should I become friends with someone just for what they could offer me? I don't like to be taken advantage of, and I wouldn't want to do that to someone else.

Once I graduated from college the first time with an spanish degree, I realized that I should have networked more. I would ask friends and fellow graduates, how did you get that job. I always heard the same thing. "A friend of mine told me about it." How did they have friends that I didn't have? Where could I find these friends with all of the connections? It took me a while but I finally realized that these so-called friends that knew about all of the jobs were really just acquaintences to my friends. I made it my mission to learn to network and meet the right friends.

You don't have to be a leech to build a great network. The first thing I think of when I meet someone new is how can I help them? By thinking of a way to help them first, I am shifting the focus from myself. This allows me to be more approachable and friendly. Most people can sniff out a 'user' from a mile away. When I notice that someone only wants to talk with me because of what I can offer them, I generally shy away. However, in order for you to build your networth, it's important to have a few key people in your network. Here are the 9 Key People to Have in Your Professional Network.

1) Recruiter
It's important, no make that essential, to have an updated resume. Not only will it keep you on top of your professional brand, but it will make your on-the-job review that much easier. When you ask for a raise and point out all of the ways you've added value to your company, you will have that much more leverage. Having a recruiter in your network will keep your options open. If you ever feel like your talents and skills are going unnoticed at your current position, you will have an immediate link to new positions and opportunities.

2) Accountant
Having an accountant in your network will be an asset to you in one of two ways. It will position you as the go-to person for accounting needs; since people will know that you know who to turn to, and it will keep you in the know about tidbit accounting laws and changes. But probably the most important reason to have an accountant in your network is because of the IRS. Who really wants to be audited?

3) The Sports Guy/Gal
If you are the one who is the authority on sports then you might be able to skip this one. Business and sports go hand in hand, period. You can avoid it all you want, but if you can't talk about the epic fadeaway from last night's basketball game, or the 2 point conversion that had everyone in shock, you will miss out on deals. If you don't want to make it a point of watching games or checking ESPN everyday then network with a sports guy/gal. You'll know them by the fact that they are always at the 'watercooler' talking about last night's game. Steal some sound bites from them and network away!

4) Media
Everyone needs to know that someone that is always the first to know everything. They may write an entertainment blog, you may always see them out hob-nobbing (that's the word for networking with famous people), and you will see their pictures EVERYWHERE. You may have a hard time meeting this one person because everyone wants to know them, but if you can do it, you will be one step closer to the pulse. Who knows, they might want to take the time to talk about you to fellow hob-nobbers.

5) Banker
This one is an obvious one. You should have someone that keeps up with the market and world news. They will constantly know what is going on and how it will affect their portfolio. And if you listen well, you might get some tips for your own portfolio.

6) Entrepreneur
An entrepreneur is the person you met who is always trying to network. They either want to sell you something or figure out how you can build their business. But don't get offended, that's what they do. Good entrepreneurs will figure out a way to help you as well and that's why it is good to meet one and stay in touch regularly.

7) Teacher/Professor
When was the last time you talked about the state of our educational system? I've met many teachers and, I always leave the conversation with a new look at politics. Because the educational system is so flawed and the government runs it all, they will usually be up to date with new laws and provisions that may affect you or your kids or your lifestyle.

8) College Student
I bet you didn't think you would need to network with a college student, huh? You're probably thinking, what do they have to offer me? But didn't we just talk about networking with those that you can help? Have you been listening? But you can benefit as well. You will get more fresh perspective from a college student than you will get from your other sources.

9) Author
Finally, you should know at least one person who writes for a living. Or at least someone who enjoys organizing their thoughts onto paper. When you decide to begin writing that interesting life story of yours, you'll know who to talk to.

Did I miss one? Who would you include in your network?

I've interviewed several young entrepreneurs and they all agree that networking has been one of the keys to their success. I hope you will decide to network with me! I love meeting new people. Find me on Twitter at @FSYAonline or talk to me at Financial Success for Young Adults