Do You keep saying to yourself that you want to save, but sick of living the way you are—broke. To stop living from paycheck to paycheck one of the following simple solutions may help you:
List all your monthly expenses, how much money you need. If you do not have money for your rent, food, clothing, and other basic necessities then the first step is to find a way to bring In more money, then allocate money for all of the priority expenses first and also save yourself a reasonable amount of “fun” money.
Generally you will spend about 25% less at the grocery stores if you don’t shop when hungry. You will also purchase healthier food which lasts longer if you shop on a full stomach. Along with that, it is smart to bring a list because you will then save on transportation expenses by not having to go back to the store.
If you can shop with debit cards instead of credit cards. That way you know exactly how much you have spent and you will not spend any more than that. If you are contemplating purchasing an item on credit make sure you are able to make at least a minimum payment every single month.
Have a emergency fund. That way you won’t panic when your car breaks down, you lose your cell phone, or your kid is rushed to the hospital. This may be easier said than done, but when done it can save you a heap of trouble. All it would take perhaps to create an emergency fund is a few less bottles of soda, packs of gum, or children’s toys (yes, your kids have enough in most cases.)
Make sure you check your bank account before you pull out more money to go shopping. Always keep track of spending. It will save you in the long run, especially from bank overdraft fees. That extra money you save keeping track of your money can be put to much greater use, such as being put away for emergencies or invested for a profit.
Steer clear of taking out payday loans. Although these have helped some people in a jam it can lead to an addiction. Soon you could be committing your whole paycheck to money you have not even seen yet if you get into this habit that is very hard to break. Not to mention, interest on these types of loans is usually 20% or more. If you need further assistance with money management it is recommended that you contact a budget counselor. The Internet is also packed full of money-saving tips for individuals and families.
At no other time in history when so many people have been so dedicated to conserving energy and reducing their utility bills. Rising energy costs and global warming, conserving energy has never been more important. If you are dedicated to cultivating a greener lifestyle and lowering your utility bills in the process, here are some ecco tips and bits of advice that can help you cut down on your energy use.
Firstly dial down your thermostat? Dialing down your thermostat in winter refers to the act of reducing the temperature in your home in order to conserve heating fuel. This concept is simple enough: the best way to conserve energy is simply by not using so much of it. You would probably be surprised how much you can save simply by dialing your thermostat two or three degrees from your normal temperature. Simply dialing down your thermostat one degree makes a difference. If you dial down one degree in winter, this will generally result in about one to three percent less fuel use, which corresponds to about one to three percent less fuel use which is reflected on your utility bill. In order to stay comfortably cool in the winter, slip on a sweater. At night, cover up with more blankets. This form of personal insulation is a great and efficient way to retain your personal body heat.
Precisely as you might dial down during the winter, the idea of dialing down can be simply reversed for the summer months. Dialing up is a great way to help conserve energy and reduce the cost of cooling your home during the hot summer months. As with the cold winter months, you want to dial up a few degrees and adjust your clothing for the warmer weather. Make sure to dial up your thermostat for when you plan to be away from the house.
When you have a larger home or many rooms in your house that aren’t currently being used, make sure to shut the doors to rooms. This can help reduce the demand on your heating and cooling system and help keep the rest of the house at a moderate and comfortable temperature. Remember that the less space that needs to be supplied with cool or warm air, the less you will need to spend on energy costs.
If your home is not well-insulated, you may easily be losing hundreds of dollars or more each year on keeping your home warm or cool. Check for cracks in the foundation, thin walls or other features that may be keeping your home from staying cool or warm. You can have an expert perform an energy audit on your apartment or home and give you tips on how your specific living area can be better insulated for retaining a comfortable temperature.
Most of us already know about the benefits of switching to fluorescent bulbs. These bulbs are long-lasting and can save you hundreds of dollars on your electricity bill over a year. Another great option that you can take advantage of is solar lighting. If you like to keep your house or yard lit throughout the night, consider switching to solar lighting. These lights use the sun’s warmth and energy to stay lit for several hours and can help save you money on your energy bill. The environment is your back yard so give some thought to the energy you use.
Budget balancing means taking responsibility for your finances, living within (or maybe below) your means and coming out of it with your sanity intact. Here are some tips for living the budget balancing act and coming out in front. Putting your budget into numbers makes it more real.
We can make the mistake of thinking of our budget in abstract terms. “We’re on a budget,” you might tell a friend who asks you to go along with her on vacation, or to an expensive show. Some of us are on a “budget.” But what does it really mean? Take your budget out of abstract terms and make it real. Sit down and do the math, as hard as it can be. Most of us avoid taking a good long look at our finances because it can be too hard, especially if we suspect we are deep in the red. It’s time to take control, and taking control means having the courage to sit down and take a good look at your finances. Take out your bills. Are you in debt, and if so, how much? Be honest and don’t overlook any accounts. Lying to yourself about debt is not helpful or necessary. If you are not in debt, but perilously close, figure out why. Most numbers don’t lie. Are you spending too much on housing? Is that extra car payment eating away at your budget? Are your child care costs soaring? Know your budget inside out-what you can and can’t afford, how you pay for things, your debt and credit score, and savings.
If keeping a log book sounds too technical for you, just think of it as a notebook where you keep your records. Make a note of your earnings, saving, debt and purchases. Think of your log book as a place where you can do your math. Your log book should be private and a place where you feel free to jot down notes, calculate interest rates and keep financial notes to yourself.
Almost every bank in the world now allows its customers to keep an online account. So If you haven’t already, set up your account. This is an easy way to manage your accounts, check balances and make payments online with an automatic bill payment. This is an easy way to make sure that your payments are always made on time.
Debit cards are a convenient and safe way to pay for everyday purchases. They can also be very dangerous if you are on a strict budget and you are trying to save. If you are serious about saving money, forgo your debit card for a while. When you have organized a good solid budget, on pay day, head to your local bank or ATM machine. Withdraw enough cash to make necessary purchases and then tuck your debit card away somewhere safe. This is a surefire way to stick to your budget.
If you have credit card debt, check there interest, you must know how much you are paying in interest? Especially if you are juggling several accounts, it can be easy to forget or overlook interest rates. How much exactly are you paying on each transaction? Check with your credit card for this information. If you have long-standing accounts in good standing, try to negotiate a lower interest rate.
So are you living the Budget Balancing Act and are you Coming out Ahead?
Many of us have enjoys a good afternoon of shopping knows well the tension that exists between the things we want versus the things we need. In our materialistic society, it can be very difficult to reconcile this tension. We convince ourselves that the things we want are the things we need. Some of us (especially those of us deep in debt) are very good at rationalizing our purchases. Here are some tips and ideas to help you overcome the urge to buy the things we want, rather than those we need.
What stuff that we wants vs. needs battle does to your budget
Straight away buying what we want (convincing ourselves that what we want is the same as what we need) can be dangerous to our budgets. If you find yourself in debt, there is a very good chance that you have been in a losing battle against your better judgment. But it is never too late to turn the battle around. When it comes to overspending, most of the time it has to do with overindulging. Before you can turn this battle around, you have to convince yourself of one basic truth: all you need is a roof over your head, clothes on your back and food on your plate. You don’t need a particularly fancy roof, expensive clothes or gourmet food. You just need to sustain yourself, and sustaining yourself means treating your hard-earned finances with respect.
The secret of the shopping list and sticking to it
Discover the easiest and time-tested ways to buy what you need, and not what you want: make a shopping list every time you go out. Not just when you go grocery shopping, but every time you leave the door and head towards the store. Eliminate the concept of “browsing.” Browsing can easily lead to overspending. When ever you head to the store, make a specific shopping goal. For example, if you’re going back to school shopping tell yourself: “I need to buy a new notebook, pens, a new sweater and two new pairs of pants.” Be very specific and carry a list. Having your needs right there in front of you, in black and white, can be a powerful reminder of why you are at the store.
Ask yourself: Can it wait?
Outcome from buying only what you need all the time can be difficult and demoralizing. While you are at your favorite store and shopping for the essentials, you are bound to come across something beautiful that you love and want but probably don’t need, at least not right away. Instead of blaming your budget, ask yourself a simple question: can it wait? In most cases, it probably can, and you can even come back for the special purchase when your finances are (more) in order.
Associates: watch who you move with
Sometimes it is easier said than done, this can be a difficult realization to make, but it is essential if you find yourself overspending. Do you have friends or family members who overindulge or overspend? Maybe they can afford such spending behavior (or maybe they can’t), but if you know you can’t, it’s time to take a break from these acquaintances. Constantly eating out, vacationing or going shopping with these friends is bound to do a number on your financial ledger. If you love your friends, but not their financial behavior, resolve to join in low-cost activities. Invite your friends over for a home-cooked dinner, picnic or to the art museum during free admission day. Be honest with your friends if they question your behavior. True friendship can overcome these spending differences.
Discover the secret to creating your own mad money jar
Your results from always scrimping and saving is no fun. Do yourself a favor and create your own private money stash. Sock away stray dollar bills into a mad money jar and forget about it. Six months from the date of starting your jar, use the money for special purchase-something you want but don’t particularly need.
Before you start boosting your credit score, you need to know the basics. You need to know what a credit score is, how it is developed, and why it is important to you in your everyday life.
Lenders certainly know what sort of information they can get from a credit score, but knowing this information yourself can help you better see how your everyday financial decisions impact the financial picture lenders get of you through your credit score. A few simple tips are all you need to know to understand the basic principles:
Tip #1: Understand where credit scores come from.
If you are going to improve your credit score, then logic has it that you must understand what your credit score is and how it works. Without this information, you won’t be able to very effectively improve your score because you won’t understand how the things you do in daily life affect your score.
If you don’t understand how your credit score works, you will also be at the mercy of any company that tries to tell you how you can improve your score – on their terms and at their price.
In general, your credit score is a number that lets lenders know how much of a credit risk you are. The credit score is a number, usually between 300 and 850, that lets lenders know how well you are paying off your debts and how much of a credit risk you are.
In general, the higher your credit score, the better credit risk you make and the more likely you are to be given credit at great rates. Scores in the low 600s and below will often give you trouble in finding credit, while scores of 720 and above will generally give you the best interest rates out there. However, credit scores are a lot like GPAs or SAT scores from college days – while they
give others a quick snapshot of how you are doing; they are interpreted by people in different ways. Some lenders put more emphasis on credit scores than others.
Some lenders will work with you if you have credit scores in the 600s, while others offer their best rates only to those creditors with very high scores indeed. Some lenders will look at your entire credit report while others will accept or reject your loan application based solely on your credit score.
The credit score is based on your credit report, which contains a history of your past debts and repayments. Credit bureaus use computers and mathematical calculations to arrive at a credit score from the information contained in your credit report.
Each credit bureau uses different methods to do this (which is why you will have different scores with different companies) but most credit bureaus use the FICO system. FICO is an acronym for the credit score calculating software offered by Fair Isaac Corporation company. This is by far the most used software since the Fair Isaac Corporation developed the credit score model used
by many in the financial industry and is still considered one of the leaders in the field.
In fact, credit scores are sometimes called FICO scores or FICO ratings, although it is important to understand that your score may be tabulated using different software.
Similarly, credit bureaus and lenders often look at general patterns. Since people with too many debts tend not to have great rates of repayment, your credit score may suffer if you have too many debts, for example. Understanding this can help you in two ways:
1) It will let you see that your credit score is not a personal reflection of how “good” or “bad” you are with money. Rather, it is a reflection of how well lenders and companies think you will repay your bills – based on information gathered from studying other people.
2) It will let you see that if you want to improve your credit score, you need to work on becoming the sort of debtor that studies have shown tends to repay their bills. You do not have to work hard to reinvent yourself financially and you do not have to start making much more money. You just need to be a reliable lender. This realization alone should help make credit repair far less stressful!
Credit reports are put together by credit bureaus, which use information from client companies. It works like this: credit bureaus have clients – such as credit card companies and utility companies, to name just two – who provide them with information.
Once a file is begun on you (i.e. once you open a bank account or have bills to pay) then information about you is stored on the record. If you are late paying a bill, the clients call the credit bureaus and note this. Any unpaid bills, overdue bills or other problems with credit count as “dings” on your credit report and affect your score.
Information such as what type of debt you have, how much debt you have, how regularly you pay your bills on time, and your credit accounts are all information that is used to calculate your credit score.
Your age, sex, and income do not count towards your credit score. The actual formula used by credit bureaus to calculate credit scores is a well-kept secret, but it is known that recent account activity, debts, length of credit, unpaid accounts, and types of credit are among the things that count the most in tabulating credit scores from a credit report.
You may want to note that your financial information wherever it is keep is out there, so you need to contact the bureaus to get a copy of your credit rating so your in control. Your local yellow pages should have the contact information for your credit agencies or you can do a web search.
Barbeques, road trips and long-awaited travel vacations that’s what summer is for. But in these hard times, it can be hard to justify a family vacation. Remember that summer fun is never out of style and that a year full of activity and work always justifies a summer vacation. That doesn’t mean you have to go into debt just to enjoy a good summer vacation. Here are some tips for getting your good dose of summer fun without going into long-term debt.
Holiday Vacation in your state
Having a vacation isn’t a contest to see how far from home you can get this summer. Why not choose to vacation in your state or region? Staying within the boundaries of your own state can save you money on transportation and you can probably see many things and visit destinations you have never visited. State parks are usually much less expensive than national parks, and they are just as fun. So pack up the car and head out to explore your own backyard.
Save money by getting a national parks pass to save money
When you and your family are set on visiting one of the country’s premiere national park destinations, go ahead and invest in a national parks pass. Most of the famous national parks will cost you a good $20-25 a pop. If you plan on visiting often or would like to see more than one park, you would probably be better off in investing a national park pass, which gains you admittance to several national parks for one flat fee.
Train travel is fun so why not choose train whenever your destination allows
When your destination allows, choose to travel by train. The savings in gas will be significant, and you will have more time to enjoy the view. Of course, if you are planning a long trip or traveling with little ones, you will probably want to avoid extensive train travel. Use the train for short trips where you can get away with walking, bus and cabs, or break up a longer voyage into shorter legs so that the little ones don’t get restless and so you can get to see more destinations.
Look at buying a package vacation to save money
You will find many great package vacations out there that allow you to save money on air, hotel and attractions. Make sure to do the math before you sign up for a package vacation to make sure you are getting a good deal. Also, you should read all the fine print. Many low-priced package vacations have strict travel restrictions. If you can make it work, you will likely save hundreds of dollars on package vacations.
Family visits instead of theme parks can be a great way to catch up
So you and the family are excited about taking a road trip and aren’t too picky about the destination (after all, the journey is the destination, right?), why not pay a visit to loved relatives that you don’t get to see too often. Instead of driving across two states to go to an overpriced and crowded theme park, take the kids to visit grandma. In the long run, they are likely to have just as much fun without the high costs of theme parks or other tourist attractions.
Bring back the cooler and make your lunch on the road
Next to gas and hotels, eating is probably your highest cost while on a family road trip vacation. You can save hundreds of dollars by preparing ahead of time and preparing your own picnic lunches. Treat yourself to one restaurant meal per day if you like, but be prepared to visit grocery stores in order to make your own fresh and much less expensive lunches.
So take off and enjoy this summer without going into debt.
Simply Living Debt Free is your essential guide to evaluating your life as it is right now and identifying the changes you need to make in the most important areas to gain back control of your life. Whether you’re struggling financially, emotionally, physically, or spiritually, this must have manual provides a wealth of specific strategies you can use now to re-route your life’s road map and live the life you always dreamed of living!
You don’t have to suffer if you are hurting for money. Renting can be expensive, and sometimes not exactly worth the money you pay. You’ve got to pay your monthly rent, plus your electric bill, water bill, gas bill, and other bills. Consider everything monthly. The rates build up, and you can easily fall into debt. No one wants to get in debt, but sometimes it seems unavoidable. However, there is a way you can afford it, and get your money’s worth every month, while seemingly lowering your monthly payments. No matter what the situation, there’s an apartment that’s right for you.
Search out a little side Internet job that you can work from home. Many online jobs allow you to put in some time once a week or so on weekends, so you can have more money coming in. This can quickly equate to earning an extra $100 a month. Maybe you could look at becoming an affiliate; you have no start up cost. (if you are attracted to the idea of becoming an affiliate then check out Health Wise Affiliate Prodgram )
Put up for sale items on eBay. If you have a hobby of garage sale hopping, look for small treasures when you’re out shopping. Buy cheap and sell high on eBay. EBay is an online auction website that allows you to sell items quickly and easily. If you stick to it and make it a priority, you can easily earn an extra $100 a month.
Transform a hobby into a small business. If you enjoy web design but don’t do it as a career, advertise that you can create web sites for people quickly and easily. Don’t charge too much, because you want to do it as a hobby and you do want to get customers. But charging a nominal fee is a great way to turn something you enjoy doing into $100 each month.
Locate people who owe you money. If you start tying up loose ends and tracking down people you have judgments against, you can start collecting cash. Also look at cable companies that you may have overpaid. Ask for your refund. Find companies that you owe money to and it quite possibly can turn into an extra $100 each month.
Begin selling old things in your house that you no longer need. Everyone has things in their home that they haven’t used in a year or more. These items oftentimes can be sold quite easily and not missed. Start posting these items on sites like Craig’s List or eBay and you can quickly and easily earn extra income each month. This is also a great way to start sorting out the things from your home that you no longer need. Soon enough you will have a streamlined household.
Instead of having bills mailed to you, and having to worry about writing and mailing out checks to several different people every thirty days, you can negotiate one flat rate to pay every month. This payment will include your rent bill, water, gas, electric, and many other things that come with the apartment. You’d be surprised at how low the payments per month actually are.
However, if you want more luxury with the place you’re living. Some apartment rent rates are higher than others, and this is because some apartments have hidden bills and fees. Obviously, the gas and electric bills are very high due to everyone living in the apartment, but again, the bills are divided up fairly equally. Another good thing is that, within reason, you can use a fair amount of water and gas and electricity and not get charged more for it every month.
Living in an apartment and having one fixed bill per month can be a major stress reliever, and a good way to help things get organized. Apartments can be fun and cheap places to live.
Annual fees are expenses paid every year for keeping/owning your credit card. These fees are usually tracked by points. For example, 10 points equals 10% of the original credit line. So if you’ve got a $200 bill, you might have 25 days to pay it, and if you’re late on the payment, you’ll get charged a certain amount of money in addition to the original $200 fee.
You can take back control of your financial situation with a bit of forward planning, sometime when you first start to get back on track it will seem hard but just keep taking small steps and you will succeed.
How many of us have enjoys a good afternoon of shopping knows well the tension that exists between the things we want versus the things we need. In our materialistic society, it can be very difficult to reconcile this tension. Often we convince ourselves that the things we want are the things we need. Some of us (especially those of us deep in debt) are very good at rationalizing our purchases. Here are some tips and ideas to help you overcome the urge to buy the things we want, rather than those we need.
Things that we wants vs. needs battle does to your budget
Instantly buying what we want (or convincing ourselves that what we want is the same as what we need) can be dangerous to our budgets. If you find yourself in debt, there is a very good chance that you have been in a losing battle against your better judgment. But it is never too late to turn the battle around. When it comes to overspending, most of the time it has to do with overindulging. Before you can turn this battle around, you have to convince yourself of one basic truth: all you need is a roof over your head, clothes on your back and food on your plate. You don’t need a particularly fancy roof, expensive clothes or gourmet food. You just need to sustain yourself, and sustaining yourself means treating your hard-earned finances with respect.
Discover the shopping list and stick to it
Finally one of the easiest and time-tested ways to buy what you need, and not what you want: make a shopping list every time you go out. Not just when you go grocery shopping, but every time you leave the door and head towards the store. Eliminate the concept of “browsing.” Browsing can easily lead to overspending. Every time you head to the store, make a specific shopping goal. For example, if you’re going back to school shopping tell yourself: “I need to buy a new notebook, pens, a new sweater and two new pairs of pants.” Be very specific and carry a list. Having your needs right there in front of you, in black and white, can be a powerful reminder of why you are at the store.
Question yourself: Can it wait?
Results from buying only what you need all the time can be difficult and demoralizing. While you are at your favorite store and shopping for the essentials, you are bound to come across something beautiful that you love and want but probably don’t need, at least not right away. Instead of bemoaning your budget, ask yourself a simple question: can it wait? In most cases, it probably can, and you can even come back for the special purchase when your finances are (more) in order.
People: watch who you run with
Easier said than done, this can be a difficult realization to make, but it is essential if you find yourself overspending. Do you have friends or family members who overindulge or overspend? Maybe they can afford such spending behavior (or maybe they can’t), but if you know you can’t, it’s time to take a break from these acquaintances. Constantly eating out, vacationing or going shopping with these friends is bound to do a number on your financial ledger. If you love your friends, but not their financial behavior, resolve to join in low-cost activities. Invite your friends over for a home-cooked dinner, picnic or to the art museum during free admission day. Be honest with your friends if they question your behavior. True friendship can overcome these spending differences.
Secret to creating your own mad money jar
The result from always scrimping and saving is no fun. Do yourself a favor and create your own private money stash. Sock away stray dollar bills into a mad money jar and forget about it. Six months from the date of starting your jar, use the money for special purchase-something you want but don’t particularly need.
You’ve got to ask yourself, depending on how long you have your credit card and how much money your credit card is worth, which option will be better in the long run. A credit card annual fee is an expense that you must pay per year in order to keep your credit card. The good news is that these fees are generally very low. Most annual credit card fees vary from $10 to $75 a year. Rewards cards fees are usually higher than this, and annual fees are normally used in the form of points and percentages. For example, 10 points is the equivalent of 10% of your credit line. When paying an annual fee for a credit card, this usually brings down your interest rate. Some credit cards have no annual fee, but their interest rate will be higher than those of a credit card with an annual fee.
Would you rather pay $10 per year, or have to spend 5 years paying off the $5,000 extra dollars you spent trying to avoid that annual fee? Credit card companies want your money, and some things, such as a waiver for annual fees, can often be tricky to see around.
Should you pay an annual fee every year for a lower interest rate, or should you purchase a credit card with no annual fee, but a higher interest rate? Some credit card companies will sometimes offer to waive your annual fee if you spend enough money each year using your credit card. While this seems like a good idea and it’s easy to make big purchases with one swipe of your credit card, you must consider that you are probably going to end up paying more in the long run.
Credit card companies will try to trick you into buying their card by flattering you with certain deals on annual fees. One example mentioned above is the waiving of the annual fee, but other card companies are even more inconspicuous. Some say they’ll give you no annual fees for the first year, but their interest rates will be higher. Some offer a low fee for the first year, but this will also make a higher interest rate. Credit card companies that offer a low annual fee for the first year normally have higher annual fees than usual, and you’ll usually end up paying the difference between your ‘low annual fee’ and the company’s normal annual fee somewhere within your interest rate.
Sometimes, when your annual fee is waived for the first year and the interest rate is high, the interest rate will not decrease when you begin to pay your annual fee.
Annual fees can be good and bad-you just have to be careful and consider each aspect from different angles before making your decision. Credit cards can be useful, but there are many fees that come along with them, and some of the fees are hidden. Not only must you pay back what you spent, but there are many other things to pay off as well. Some of these fees include interest rates, annual fees, late payment fees, set-up fees, credit limit increase fees, cash advance fees, and others.
Interest rates are additional fees you pay while paying back what you spent on the card. These rates change depending on other factors about your credit card. For example, the amount of money you’re paying back can increase or decrease interest rates, and whether or not there is an annual fee on your credit card can change your interest rate as well. So its worth taking a good look at your bank to make sure you have the best account for your needs don’t just leave it to chance, get the information and take back control of your money.
