September 24, 2010
Filed under: Debt Control — Jean @ 5:39 pm
First, living below your means keeps you out of debt. Living below your means allows you more freedom in many parts of your life. Living below your means also lowers your stress. And living below your means keeps things simple. Here are seven painless pointers for lowering your bills and adopting a lifestyle that allows you to live below your means. Living below your means and sticking to a budget does not have to be painful. Why do so many people who adopt frugal habits speak so highly of this lifestyle?
Learn how to brown bag your own lunch. This is a very simple way to keep your bills low. You can save money without even feeling like you’re saving money and even adopt a healthier lifestyle. If you enjoy eating out, you probably don’t even notice how much you spend on this expensive habit. This doesn’t mean that you have to give it up entirely. If you go out to eat several times a week, take it down to one or two times a week. Learning the pleasures of preparing your own meals can introduce you to a whole new world and save you lots of money in the process.
What’s wrong with your old car? Buying a new car is one of those major purchases that can keep you drained of savings for years. Instead of buying a new car, or leasing, every few years, keep your car for as long as you can and watch the savings add up. Keep your car in good working order by taking it for regular maintenance and driving as lightly as possible, take good care of it and hopefully you will give yourself many years of trouble-free driving without having to make those hefty new car payments.
Re-evaluate your living situation. Could you be paying a large rental bill for a two-room apartment and you live alone? Are you paying too much on your mortgage balance each month? If you are serious it’s time to sit down and reconsider your living situation. Maybe you can live just as comfortable in a somewhat smaller, and less expensive, apartment. Maybe you can lower your monthly mortgage payment significantly by refinancing your home. Whatever your situation looks like, sit down and see how much you’re paying per month on living expenses. Chances are, there are ways to lower this expense significantly.
Do away with your land line if you’re not using it. Do you live by your cell phone? These days, with increased cell phone stability and advanced technology, most people use their cell phone for most of their communication needs. If this sounds like you, perhaps it’s time to cut that land line service and save on your monthly telephone bill.
New clothes, furniture and electronics are nice, but they are usually marked up pretty high. Watch the prices plunge as you step into your local secondhand store or thrift shop. Shop secondhand whenever possible You can buy high quality clothes, furniture, books and music at your local secondhand shop at a deep discount.
This long-held adage still rings true today. Pay yourself first. Most people in debt are anxious about saving, but it’s time to deposit a little into your own private savings stash every month. Make an emergency cushion for yourself by having ten percent of your paycheck automatically deposited into savings account each month. But if you are in deep debt, pay this down first.
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September 17, 2010
Filed under: Debt Control — Jean @ 5:29 pm
Money saving is never easy. Most os us simply don’t do it. Yet, saving money is essential and It’s a lot better than using credit. How often do you see a commercial that says, “Save up for six months and buy this new couch set!” we wants it and we want it now. Unfortunately, that can cause us to get into debt that we can’t climb out of. Instead of debt, try saving. Let’s say your short term goal is to buy a boat-you have a few options. One option is to borrow the money from a lender. Another option is to charge it on a credit card, and the final option is to save for a few months and buy it with your own money. All three ways will give you that boat. Some of those options are not the wisest. If you use a lender and are late with one payment, they can put on a 99% interest. If you use a credit card, you have interest and more debt. If you save, you’re fine. But, how do you save?
First of all, don’t go out to eat. If you do, get water and share a dish with someone. If you calculated the amount of money you spend on dining out in one month-you will most likely be surprised. Save that money, your short term goal is worth it. Another way to save is to cut out some extra spending. Instead of going to see a movie, rent one and stay home with some popcorn. Instead of buying an entire CD, buy the track and save that money. Another way to save some money is to buy bulk.
On occasion it’s hard to save up by cutting things out of your life, not everyone can afford to go out to eat as much as others. We can’t all afford nights out at the movies. Just act like you are literally making ten percent less until you reach your short term goal. These are just a few ways you can save for short term goals. Some will say that if you need extra help financially, there are trained professionals just a call away for advice. When doing your research, consider the following: Look into these programs: door-to-door, fee-per-ride, ride-share, carpools, and private shuttle services. Some services require advanced notice or reservations. Use services that are no or low cost to seniors.
Use pay as you go or monthly coupons. Use public or private transportation (taxi, mini-bus or van, bus, rail). Remember that debt is never a wise choice to make if at all possible, because of interest and other things.
Proviso you decide to keep your vehicle, be sure to look into lower discounted insurance rates for mature individuals. Also, if you find that you are moving slower when walking, ask your medical professional about assisting you with obtaining a handicap sticker, tag or license plate for your vehicle.
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August 27, 2010
Filed under: Debt Control — Jean @ 5:11 pm
You can still go out to eat and make your budget.The following options will help you have more of a peace of mind about eating out: In between dining experiences learn how to cook better foods for yourself at home. This could lead into a new hobby and can result in more money in your pocket in the long run.
Cut down on cheap everyday fast foods and make your restaurant experience special. You will have more money for a sit-down meal in a more upscale restaurant if you cut out a few hamburger and fry orders. Not only that your dining experience will be more special and more rewarding. You need to allow yourself to have fun once in awhile, and to experience the finer things in life. Finer dining does not need to cost every cent you have. There is no shame in ordering water with your meal. In fact, most restaurants automatically supply their visitors with water. This will free up more funds for you to purchase a fuller meal.
Gourmet sandwich shops and pizza places often cost less. That is one option to think about as well. Consider eating out during lunch instead of dinner. Even at nicer restaurants you will fine high-quality meals on the menu that are fitting for midday cuisine. Perhaps a nice brunch on a Saturday afternoon would be ideal. Or you can just go out for a few drinks and work it off dancing.
. Use coupons, and do not be ashamed about doing so. Remember all those buy-one-get-one half off deals? Take advantage of those. However, one warning is that it may work better if you have known the person for awhile than if you have just met that person for a first date. Buffet places usually offer reasonable rates for different times of the day. Some will offer morning specials for breakfast, while others offer noon-day and evening specials
Test out your local listings for special events that offer inexpensive dining. Local non-profit picnics, county fairs, and other places offer a well-rounded solution for fairly inexpensive fun you can plan ahead for. You also can find local Internet ads of your favorite places as well.
Include meals delivered, a service which many pizza and gourmet shops offer for free. It beats paying high gas prices to drive there.
Decide on a spot in your neighborhood. It will cost you less to drive there. If you have never been to places nearby you, it is always possible to ask to view the menu before being seated. Scan reviews of local restaurants. These are found in local entertainment guides online and offline. You would be surprise what is in your own backyard versus an hour drive to the other side of town and if you want to eat healthy meals on a budget try a soup and a salad and a light sandwich. You might also consider a vegetable tray.
Try more informal quality dining. Many bar and grills will not mind if you order a big basket of fries and chicken for more than one person. Even in some places where they have an broad entrée list you might be able to ask for an extra plate. As you now most restaurant meals are big enough for two people anyway..
So go out and enjoy.
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August 20, 2010
Filed under: Debt Control — Jean @ 5:07 pm
One of the biggest benefits, and curiously under-touted aspects of simplifying your life, is that it can help you save money. And who doesn’t want to breathe easier? These things-money, stress and organization-are intricately connected to one another. When we get one into control, the others will follow. Here are some tips for getting control of your finances, save money and lower your overall stress levels.
15 minutes every day on your finances
It can be easy to forget, avoid or simply overlook several small tasks. These things eventually gather dust, take up space and pile up to the point that they become overwhelming, scary and bad for our finances. Here is a simple habit to fall into that can help protect you from the horrible sight of stacks of unpaid bills and stray papers overflowing on your kitchen table or desk. Spend fifteen minutes each day cleaning your desk, kitchen table, or wherever it is that you keep your important financial papers. Go over bills, throw out old mail, sharpen your pencils, and put things in order. If you are not the kind to keep extensive tabs on your papers, make it easy for yourself. Dedicate one desk drawer to your bills and other financial papers. Go through your drawer each day and make sure that there is nothing in there that will surprise or scare you one day. Simply dedicating fifteen minutes each day is an easy way to simplify your life, stay organized and save money on unpaid bills, fines or other surprise costs.
Make your own easy household products
Here is an easy way to save money and keep things simple. Why spend five bucks on a bottle of multipurpose cleaner when you can spend pennies on your own homemade household product. Replace your expensive Windex cleaner with your own concoction of ammonia, vinegar, water and rubbing alcohol. If you want it to look blue, add a few drops of blue food dye. You can make a full bottle for about 35 cents. This is an easy way to make an effective, safe and very inexpensive household cleaner.
Household essentials – save money by buying in bulk
Not having household essentials on hand can be stressful and frustrating. Ever reached for tissue and find that you are out? Or what about needing a napkin and finding none in stock? Many times when we are hurried and harried and shopping for a household essential, we tend to overpay. Save yourself the stress by shopping in bulk for household essentials. If tissues are on sale, grab a few boxes. There are many non-perishable household essentials that are easy to buy in bulk, including toilet paper, toothpaste, tissues, napkins, canned food and others.
Buy an oversized calendar and put it somewhere easily visible. Make a note of when you have to make payments. Even simpler, automate your payments online if possible. If you can’t automate your payments but you check your e-mail often, signing up for email updates is an easy way to keep track of your accounts.
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August 13, 2010
Filed under: Debt Control — Jean @ 5:03 pm
You can save money on living expenses if you consider the water-saving tips mentioned in this article and do your part for the environment.
For instance, one of the most often used ways to save money by using less water is taking shorter showers. Filling the bathwater only have way is another water-saving and money-saving practice. Wash full loads of laundry. It is also recommended that you give your hot-water heater a rest by setting your washer to rinse with cold water. In fact, certain types of clothing are light enough to be washed with cold water.
Chances are you use a dishwasher to help save time. If so, it is recommended that you wait until it is full before you run it. Along with that, you can reduce the chance of having to re-wash used dishes when you rinse them off as soon as you are done eating. Otherwise, cleaning your plates, cups, silverware, and other items the old-fashioned way is an idea.
Use re-usable ice packs on picnics and in drinks. One way to conserve on water and to save money is to purchase ice packs and reusable “ice cubes.” For drinks. They are just as effective in keeping food and drinks cold as ice.
Hand-watering your plants may be feasible. You use less water if you just replenish the immediate plant area using a water container versus when you use a sprinkling system. If you have a large lawn or garden, sprinklers set to spray at certain times of the day (usually at night) would be ideal.
Use hand sanitizer, wipes, or other quick cleansing materials. These are usually used on the go. However, if you want to cut down on the amount of water you use to wash your hands these items are handy, especially the hand sanitizer because it does not leave any waste behind.
Compose instead of flush. The sample applies to using a garbage disposal.
Use rain water. Sometimes you can capitalize on nature’s shower to clean your car. When you see that it is soon going to rain, or if it is raining already, perhaps you can take some soap and a bucket outside. Rainwater can be collected for a variety of other uses as well, such as for watering houseplants, washing the car and other outdoor uses.
Free tips on water conservation are available through local council. Green organizations also can provide free assistance in this area.
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July 23, 2010
Filed under: Debt Control — Jean @ 3:54 pm
The first year for new parents is the hardest. With new baby comes immense joy but also unbelievably strained finances. It is predictable that the average family will spend between $10,000 and $15,000 during baby’s first year alone. There are plenty of ways that you can slash many of your costs simply by being careful with your money and not indulging in every whim.
When you are an expecting parent and you are alarmed about the high costs of baby’s first year, make a agreement with yourself to save money. Resist buying everything in sight. Every parent wants the best for their child, but keep in mind that many of the things you buy during baby’s first year will be only used once. Buying name-brand diapers and an overpriced bassinet that you can’t really afford is not going to do your baby any favors. Save where you can, be smart about your baby’s purchases without compromising your sanity or your baby’s health and happiness.
Breastfeeding has been proven as the healthiest selection for feeding your baby during the first years. Not only is it healthier for your baby than bottle feeding, it is also more cost-effective. Doctors agree that breastfeeding exclusively during your baby’s first half year of life will help give his immune system a boost. Not only will your baby benefit from increased health, benefit from increased savings. Some mother’s are not able to breastfeed their children. If this is the case, you can save money by avoiding the brand name formula and buying the store brand or generic formula instead. Generic formula costs on average 30% less than name brand formula and, by law, must meet the same FDA standards as the brand name formulas. And don’t forget coupons from manufacturer’s get on their mailing lists. Always look past the attractive name brand packaging, because in most cases that is what you will be paying for.
Disposable diapers, always opt for the generic brand. Many larger chain stores carry their own store brand of disposable diapers which are usually just as good as the brand name diapers. You can expect to save about 30% on disposable diapers simply by buying the generic store brand.
Babies will quickly outgrow expensive little outfits. You can find nearly new or gently used baby clothes at garage sales and markets. One of the biggest expenses you will have as a new parent is furnishing the baby nursery. You can save a lot by shopping for gently used baby furniture, including high chairs, bouncers and cribs. Shop used baby stores for great deals on used baby furniture. You can also find great baby gear such as bathtubs, strollers and monitors.
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July 16, 2010
Filed under: Debt Control — Jean @ 2:26 pm
So we’er Getting Married and not Going into Debt to do it. One of the foremost stresses that affects marriage is money. In truth it is over and over again what prevents people from wanting to get married or be married.
Discover, it is possible to be wed and even have a good honeymoon without paying devastating financial cost afterward. Some tips on how to save money on your wedding and to get ready for your married life together.
Search out a local church. You can usally get a discount on ceremony and reception space if you plan your wedding and reception at a church. Sometimes if you are highly involved in a church organization you may even receive free space for your special day.
Consider a ceremony in a Local park. Ordinarily the permit for this will cost next to nothing. Or maybe a outdoor spots where you can set up your wedding for free. If you want to protect your guests from rain you may be able to rent a pavilion for as inexpensive as a few hundred dollars or less.
Shop for bargains at dollar stores and discount stores. These are particularly great places to find themes for table and hall decorations. Strands of white flowers, centerpieces, and candles are available at these places for as cheap as a few dollars, or even only one dollar.
Factory Outlet or Closeout Stores for Wedding attire. You would be surprise how many of last-year’s wedding gowns and tuxes are available. Maybe rent or purchase these items for hundreds of dollars less than regular retail price. If they are only a year old they are sure to be in style, and it would often cost less to alter them than to purchase them brand new.
Design a unique but affordable getaways. You can find treasures of relaxation and fun even near where you live. This may sound a little ironic, but perhaps you would want to check out the visitor’s site of your own locality for places nearby where you can plan an enchanting honeymoon celebration.
If you are both just starting out together you may need dishes, towels, and other household items. If so, place every item that you can think of on your registry, or tactfully request cash.
Game, One wedding reception game that is popular is “Pay a dollar to dance with the groom (or bride).” Another idea would be to sell raffle tickets for door prizes at wedding showers, bachelor and bachelorette (stag or hen/doe) parties. You might also consider selling cocktails and other drinks, planning a paid performance, or following through with a wacky dare.
Talk to family and friends about Volunteer Cooks. You are sure to have a few willing cooks in your family, or within your group of friends. Also note that buffet style meals versus per-dish types of meals are usually less expensive. You can have a quality meal for your wedding reception guests at a fraction of what it would cost to hire a professional caterer.
Ask for help from as many people as possible. If you know you can find help for marriage and wedding preparation, ask as many people as possible. For instance, perhaps someone in your family or among your circle of friends, or your co-workers may knows how to take professional pictures.
More importantly, you can start your life together off right-debt free and living within your means. In fact, if you are able to enter marriage without a huge financial burden it will increase your chance of a successful life together.
Good luck
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July 9, 2010
Filed under: Debt Control — Jean @ 2:23 pm
Experts say there is specific money mistakes that many are likely to make that can easily land you in debt. These are very common errors of judgment that many of us fall into without even knowing it.
Buying a new car
OK, that can easily get you into debt. Sure, you love that new car smell, the feeling that you are the one adding up the miles, but it is a known fact that new cars depreciate thousands dollars within the first year. Think about all that money that you’re paying for the privilege of the new car smell and buy a high quality pre-owned vehicle. Many used cars still carry the original warranty-even more incentive for buying a quality used vehicle.
Using your home equity line of credit to pay off your credit card debt is often described as unsecured debt, because there’s no real collateral that the credit card company can force you to sell in order to collect on the debt. A home mortgage and home equity loan is known as secured debt because your home is the collateral. But if you fall behind your payments, the lender can easily require you to sell your home in order to collect on the debt.
Borrowing from your 401(k) or 403(b). Your 401(k) deals are pre-tax, which means that eventually the money that you put in will get taxed when you withdraw it. Taking out a loan from your 401(k) or 403(b) means that you will be borrowing from pre-tax dollar which will eventually have to be repaid. When you eventually retire and begin your withdrawals, you will be taxed again. If you borrow money from your 401(k) or 403(b), you will effectively be getting taxed twice. Did you know that you are also required to repay the loan in only a few months? If you don’t happen to have the money for repayment, your loan will be treated as a withdrawal. You can expect a whopping 10 percent early withdrawal penalty.
Stay away from buying a variable annuity as you are making a contract with the insurance company and the money is used to buy mutual funds. But did you know that you will have to pay income tax on any withdrawals? Plus, if you withdraw any money from your variable annuities before you are approximately 60 years of age, you will also be penalized with a 10 percent fee. So watch out for what may seem like a great deal on that tempting variable annuity. There are often many buried fees that are attached to variable annuities. Make sure to read all the fine print.
Avoid variable interest loan those low initial teaser rates for financing your new home. If you can’t afford the home otherwise, you should probably not buy the home. Avoid option adjustable rate mortgages too. This will usually cause your loan balance to become bigger each month as they adds the unpaid interest on your balance of the home loan. Think twice about those great introductory rates-they can often turn out to be not that great.
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June 18, 2010
Filed under: Debt Control — Jean @ 2:13 pm
There’s no question about it affordable and dependable childcare is one of the biggest challenges for many working parents. How can you reduce your childcare costs? Having a baby can be a enormous financial stain on first-time parents, and many don’t realize how many affordable childcare options there are out there. Tips to finding ways to save money with different childcare options.
There’s no getting around the high cost of child care . In some cases, you may find yourself paying more for child care than your rent or mortgage. There is some help to be found with financial aid. Take advantage of flexible spending accounts offered by your employe. These accounts allow you to save pre-tax dollars specifically for such things as day care and elder care. You can save thousands in taxes each year by taking advantage of these flex spending accounts. If you pay for child care expenses with your after-tax dollars, you can take advantage of the Tax Credit on your income tax return.
Check as Some child care centers are willing to work with their parents to help offset costs. When having trouble keeping up with payments, talk to your child care center before things get worse. Let them know your financial situation and see if there are things you can do in order to offset your child care costs. Volunteering, donating goods or other kinds of contributions are sometimes an acceptable way of offsetting your child care bill. Some child care centers have the resources and information to refer you to government agencies that can also help with grants and financial aid.
Conventionally, extended families have always been around to help offset the cost and responsibility of child care. When fortunate enough to have caring and supportive familys, see if they can help you with child care. Some couples or single parents work with their relatives to coordinate a child care schedule that works for both parties. You may have to compensate your relatives for this care.
Flexible work schedule, Many parents can rearrange their work days in order to take care of their children. With some juggling, many parents can reduce their day child care costs significantly by flexing their work schedules.
Start a home business or telecommute, advanced technology, it is easier than ever to work from home. If you or your partner has the option of working from home, take advantage of it. Even if you can only obtain a couple of days of telecommuting it is a great advantage, maybe consider starting a sideline business that can help you cope with the high costs of day child care.
Use student child care
If you are located near a college or university use student child many students charge less for their services than a professional day care business
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June 11, 2010
Filed under: Debt Control — Jean @ 2:09 pm
Investment is important for anyone taking in an income. Investing in something long-term is also pretty important for someone who is looking out for retirement and their future. Here are basic tips to making that easier.
Sell the Losers, Let the winners Ride! It may be hard to let it go, but sometimes it needs to be done. And the winners flourish when they go a long way, so keep it going rode. Think about the future. Don’t chase all of the “hot tips.” They are often hot for a moment and cold for another. Do your own research and you’ll know better.
Your psychology is important to investment so don’t sweat the small stuff!. Your mind is your money. Don’t over emphasize the P/E ratio. This is a classic mistake and can lead to more mistakes. Avoid this one! Resist the lure of penny stocks. I know it can be hard, but they can often lead to uselessness or even worse. Resist!
Stick with the strategy you choose I know it can be hard. But if you stick with it, it will pay off. Just keep trucking and don’t get pulled away.
Concentrate on the future and be patience. The future is coming, I promise. Just hold off. The more focused you are, the better things will be. Adopt a long-term perspective. It’s not too hard to do, considering you’re doing number seven on this list. Keep it real and remember how much time you’ve got. Long-term is the key to success. Stay focused.
Select companies with an open mind. It may sound self explanatory, but like investopedia.com says, Some great companies are household names, but many good investments are not household names. Thousands of smaller companies have the potential to turn into the large blue chips of tomorrow. In fact, historically, small-caps have had greater returns than large-caps: over the decades from 1926-2001, small-cap stocks in the U.S. returned an average of 12.27% while the S&P 500 returned 10.53%. ”
Don’t put taxes up too high in importance. Yes they’re important, but that as important as some think. Taxes…yum, don’t you love them? Who doesn’t? In all honesty, American’s hate taxes. Since the beginning of taxation, people have hated it. It is necessary for national defense and other things, though. But still…is there a way to beat it? According to smh.com, “Assuming they are eventually passed by the Senate, lower tax rates and the abolition of the superannuation surcharge will change the rules for many taxpayers. Some strategies need to be put in place now to make the most of the new rules; in other cases it may be better to wait until after June 30. But if you want to save on tax, you can’t afford to ignore the looming end-of-year deadline.” What about inflation? It seems like it’s impossible to win in a situation where you cannot have control. There are certain things you can do, though. You can always talk to your tax guy, and if you don’t have one, you can call a certified CPA for advice. There’s always something you can do, just keep looking.
For more information on any of those things, go to the web and look for advice. The fact of the matter is whether you like or recognize it, the danger posed by inflation is real and present, an investor has to take steps to safeguard your interests. In other words, you need to bring a fresh perspective to your investments. There’s more information out there to be found as well. For even more help, call a CPA. They are the trained experts in money!
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