Personal Finance Buzz

Welcome to the February 10, 2012 Personal Finance Edition #223 of the Carnival of Financial Planning. The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security.

Financial planning is one of those generic terms that can often be misunderstood. Part of the reason for that is the lack of formal financial education.

Time to start focusing on a Christmas budget and putting some money aside for the holidays to get rolling on your financial Christmas planning.

There is still time left to contribute to 2010 Traditional and Roth IRAs. You have until you file your 2010 taxes to make that contribution. Federal taxes for 2010 will be due on April 18, 2011, so this is the deadline for establishing your 2010 IRA.

Financial planning is a broad, generic term that means different things to different people. There are 12 key areas as you plan for financial freedom.

The 2010 IRA contribution deadline is fast approaching. If you haven't done so already, now is the perfect time to review your retirement savings and contribute the maximum allowable amount to your 2010 IRA.

According to Mercer’s 2010/2011 Compensation Planning survey, “more than 98% of companies plan to award base pay increases in 2011. Moreover, just 2% of companies are planning across-the-board salary freezes next year compared to 13% in 2010 and 31% in 2009.”