tag:blogger.com,1999:blog-27897597518573060222024-03-20T14:00:42.455-07:00The Complete Beginner's Guide to Saving MoneySaving Money Tips and Tricks to Help Keep Cash in Your PocketAndreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.comBlogger20125tag:blogger.com,1999:blog-2789759751857306022.post-18240485316402958402012-08-08T00:58:00.001-07:002012-08-08T00:58:27.679-07:00The Worst Savings Mistakes You're Making<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><div class="separator" style="clear: both; text-align: center;"><a href="http://i.huffpost.com/gen/645868/thumbs/s-WORST-SAVINGS-MISTAKES-large.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="146" src="http://i.huffpost.com/gen/645868/thumbs/s-WORST-SAVINGS-MISTAKES-large.jpg" width="200" /></a></div>Many Americans have been making terrible savings mistakes, according to the <a href="http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.pdf">Federal Reserve's newly released Survey of Consumer Finances for 2010</a>.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The savings mistakes range from directly buying company stock to not saving for retirement.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>Here are the worst savings mistakes that you may be making:</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>You don't have a savings account.</b> Just 51 percent of American families have a savings account, according to the Fed's survey. Having a savings account is critical for being able to save over the long term.</div><div style="text-align: justify;"><br />
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</div><div style="text-align: justify;"><b>You aren't saving for retirement.</b> Only 35 percent of families have an employer retirement plan, 28 percent of them have an individual retirement account (IRA), and 13 percent have both types of accounts, according to the Fed's survey. The median white family's retirement account is more than twice as large as the median minority family's retirement account.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>You may not be participating in your employer's 401(k) retirement plan.</b> Unfortunately, the less income you're making, the less likely you are to be participating in a <a class="zem_slink" href="http://en.wikipedia.org/wiki/401%28k%29" rel="wikipedia" target="_blank" title="401(k)">401(k) plan</a>, according to the Fed's survey. 55 percent of the bottom income quintile and 27 percent of the second bottom quintile are not participating in their employer's 401(k) plan. The highest-earning 10 percent of households are the most likely to be participating, with a participation rate of nearly 95 percent. Not contributing to a 401(k) plan typically is a mistake, since it's important to start saving for retirement early, and your employer will match your 401(k) contribution up to a certain point.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>You have bought a few stocks directly from the stock market.</b> 29 percent of families directly hold one stock, and 53 percent of families directly hold 2 to 9 stocks, according to the Fed's survey. People that aren't investing for a living are likely to lose money by buying individual stocks because they are being outsmarted by professional traders, high-frequency traders (that is, computers), and professional investors that have studied companies' fundamentals closely. Diversification, on the other hand, insulates you from individual companies' mistakes and allows you to benefit from the economy's general growth. You should try to be part of the 18 percent of families that hold 10 or more stocks -- ideally through a mutual fund.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>You chose your bank because it is close to you, not because of what it has to offer. </b>46 percent of households said they chose the location of their checking account because of the "location of their offices," according to the Fed's survey. Convenience is good, but it's even better to not have to pay crazy fees. Only 14 percent of households said they chose their bank because it had the lowest fees or minimum balance requirement.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>You don't have a checking account. </b>10 percent of families do not have a checking account, 59 percent of whom are in the bottom income quintile, 51 percent are headed by someone younger than age 45, and 66 percent of whom were minorities, according to the Fed's survey. Having a checking account is important for keeping track of your finances.</div><div style="text-align: justify;"><br />
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<div style="text-align: center;"><object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" height="345" id="FiveminPlayer" width="560"> <param name='allowfullscreen' value='true'/><param name='allowScriptAccess' value='always'/><param name='movie' value='http://embed.5min.com/517122498/'/><param name='wmode' value='opaque' /><embed name='FiveminPlayer' src='http://embed.5min.com/517122498/' type='application/x-shockwave-flash' width='470' height='345' allowfullscreen='true' allowScriptAccess='always' wmode='opaque'> </embed> </object> </div><div style="text-align: justify;"></div><div class="zemanta-pixie"><img alt="" class="zemanta-pixie-img" src="http://img.zemanta.com/pixy.gif?x-id=a6c34359-dde0-4254-a076-28f759f5f8d1" /></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com2tag:blogger.com,1999:blog-2789759751857306022.post-32879317001411281882012-06-16T01:01:00.001-07:002012-06-16T01:04:08.239-07:00How To Start Couponing<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div style="text-align: center;"><b>I will give you six tips on how to get started.</b></div><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaAybwOCoOjept1d6nwAj-0R1yE2mLMNsDTGr_2vjyFgQxneiPy_xfDEeBg3uL9lb6ykInZE-0uoPB7oTeEokrSSGaLLPBmqzKbwKxannmogyqPUtvHKvUVI_JRbQIYqS66HTakWSXuAE/s1600/free-coupons-online-extreme-couponing.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How To Start Couponing" border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaAybwOCoOjept1d6nwAj-0R1yE2mLMNsDTGr_2vjyFgQxneiPy_xfDEeBg3uL9lb6ykInZE-0uoPB7oTeEokrSSGaLLPBmqzKbwKxannmogyqPUtvHKvUVI_JRbQIYqS66HTakWSXuAE/s320/free-coupons-online-extreme-couponing.jpg" width="320" /></a></div><div style="text-align: justify;"><b>Step one:</b> You will need a nice pair of scissors. Nothing makes me more upset than a dull pair of scissors; can you imagine trying to clip your coupons with a dull pair of scissors? The worst mistake ever is clipping the barcode. Ugh, Arghhhh!!!! %#*!%%#@. It's a small tip with a big impact.</div><br />
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<div style="text-align: justify;"><b>Step two:</b> Time to do research. Learn your store coupon policies; usually you can Google them or just head over to my website where I have the store policies listed. While you're there check out some of the deals posted, If something grabs your attention, print the coupon and head to the store, come back and report how things went.</div><br />
<div style="text-align: justify;"><b>Step three:</b> On Sunday morning pick up at least 4 papers. If you want to see how things work before committing to the papers, just ask your friends/neighbors if you can have their coupon inserts. That way you're not spending any money at all for coupons, that's what I did when I first started out. Another great tip, if you have any CVS Extra Care Bucks, you can use those to purchase your papers.</div><br />
<div style="text-align: justify;"><b>Step four:</b> Now in the beginning finding deals can be difficult, Let me tell you the names of all the coupon inserts. RP (Red Plum), SS (Smart Source), are inserts that comes out usually every week. P&G (Procter and Gamble) comes out once a month. GM (General Mills) comes out every other month. On the right hand side of every coupon insert is a date. Showing when the insert came out. So if you ever see someone posting a deal. They will have a date listed showing you where to find the coupon. On my website I have a coupon database; also you'll find coupon match ups.</div><br />
<div style="text-align: justify;"><b>Step five:</b> Coupons are valid anywhere from one to six weeks, all depending on the manufacture. Saving the inserts week to week is a very important part to being a couponer. You'll need to find an organizational method. Most couponers have a binder but it's all on your comfort level, below is a picture of my binder. When you see me in the store with my binder best advice I can give you is go find another checkout lane ;)</div><br />
<div style="text-align: justify;"><b>Step six:</b> Finally when I first began to coupon I always carried my coupon policies with me at all times (they easily fit in my binder too!). Walgreens was the first store I studied -- I did not move forward to any other store until I learned everything about Walgreens. I didn't have anyone to guide me, so It took me about 2 months to learn the in and outs. Once I got bored I then moved on to CVS, and I studied CVS for 2 months. I won't lie to you, moving onto the grocery store was tricky for me -- no matter how much I tried I couldn't get it down. So Kroger became my personal playground. I was there every single day of the week. I studied Kroger about four months. You guys have me to guide you. I'll be there every step of the way.</div><div class="zemanta-pixie"><img alt="" class="zemanta-pixie-img" src="http://img.zemanta.com/pixy.gif?x-id=fc36e04e-9d01-4fe1-868a-fbba1e20ef32" /></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-57314064952514334832012-04-03T14:22:00.000-07:002012-04-03T14:22:14.573-07:00How to save money? Tip #9: Think about shopping and buying in bulk<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How to save money? Tip #9: Think about shopping and buying in bulk" border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
Save money you spend on food by planning meals in advance and <a class="zem_slink" href="http://en.wikipedia.org/wiki/Bulk_purchasing" rel="wikipedia" target="_blank" title="Bulk purchasing">bulk-buying</a>. <br />
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Always purchase generics when you can, because prepared food will always be much more expensive than the generic ingredients needed to make it. Preparing food in bulk and in advance also gives you the opportunity to plan ahead and be more accurate in your budget. <br />
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However, when buying in bulk be sure that any product you buy will get used before it goes bad - you won't save money if you have to throw stuff away.<br />
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</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=43b78073-1adb-4866-93e0-4dbabe4c3a72" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-42097315980683369962012-04-03T14:06:00.000-07:002012-04-03T14:06:49.424-07:00How to save money? Tip #8: Ditch the posh shops...<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How to save money? Tip #8: Ditch the posh shops..." border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
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Ditch the posh shops and let the retail markets become your new friends.<br />
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Or shop the discount racks at clothing stores. Items on clearance are marked down considerably and could save you 50% of the price.<br />
<div class="zemanta-related" style="margin-top: 20px; overflow: hidden;"><h4 class="zemanta-related-title">Related articles</h4><ul class="zemanta-article-ul" style="clear: left;"><li class="zemanta-article-ul-li"><a href="http://www.theverge.com/2012/4/1/2918318/british-retailer-game-sold-to-private-investors-remaining-333-shops" target="_blank">British retailer GAME sold to private investors, remaining 333 shops will stay open</a> (theverge.com)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=1ef32c01-208b-413b-9eca-081b3662dd63" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com1tag:blogger.com,1999:blog-2789759751857306022.post-29643520224623435392012-04-01T03:05:00.000-07:002012-04-01T03:05:44.071-07:00How to save money? Tip #7: Try to stop using credit cards<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How to save money? Tip #7: Try to stop using credit cards" border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
Try to stop using credit cards.<br />
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They are quite dangerous when you want to start saving up money, because you don't know exactly how much is in there. Therefore, it is easier to overspend. <br />
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If you have cash, you can see your cash supply running low as the money is leaving your wallet. If you are not able to eliminate the use of credit cards completely, try to restrict it as much as you can.<br />
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</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=a0aba0ba-c2de-43b2-ba92-c3ca67ec45fd" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-42542205294167139462012-04-01T02:59:00.000-07:002012-04-01T02:59:51.849-07:00How to save money? Tip #6: Consider all your expenses and see if you need all<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
Consider all your expenses and see if you need all the things you have.<br />
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Can you live without cable or satellite TV? Can you restrict eating out? If your answer is yes, give this things up. You will see how much money you will save.<br />
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Write down how much money you spend every month on a given item every month, e.g. how much money goes to pay your bills and how much is spent on clothes etc. <br />
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Then try to restrict all the expenses you can and think up a low, but realistic amount of money you can spend on them, e.g. $20 per month for sweets.<br />
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<li class="zemanta-article-ul-li"><a href="http://www.creditscore.net/15-blog-posts-with-tips-to-avoid-wasting-money/" target="_blank">15 Blog Posts with Tips to Avoid Wasting Money</a> (creditscore.net)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=acb52fb1-e747-414d-8406-20d6188030cf" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-27623710016317993542012-04-01T01:19:00.000-07:002012-04-01T01:19:47.024-07:00How to save money? Tip #4: Try writing down all your expanses regularly<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How to save money? Tip #4: Try writing down all your expanses regularly" border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
Try writing down all your expanses regularly.<br />
<br />
You need to compare how much you earn and how much you spend. Write down everything you spend your money on for a couple weeks and be as detailed as possible. <br />
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Do not remember to put down the things on which you spend money. You can either put a suitable amount of money in a small notebook after every purchase or collect bills and look through them at the end of every week; whatever works better for you.<br />
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</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=5376552f-92bc-41e7-9ecb-406a87e28d20" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-11694564686483160442012-04-01T01:10:00.000-07:002012-04-01T01:10:06.178-07:00How to save money? Tip #3: While looking at your bills try to figure out how much ..<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How to save money? Tip #3: While looking at your bills try to figure out how much .." border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
While looking at your bills try to figure out how much you can save per week, month or paycheck. <br />
<br />
It is a good idea to save the same amount each period. Also remember to adjust the amount of money you save e.g. every month to your own financial abilities: for one person it is nothing to save $300 every month, for others it is impossible.<br />
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</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=3c2c65a3-611e-496c-b86b-9a2116a0c1f9" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-72134357928153171772012-04-01T01:03:00.000-07:002012-04-01T01:03:54.837-07:00How to save money? Tip #2: You need to look closely at your personal budget.<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How to save money? Tip #2: You need to look closely at your personal budget." border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
Start to collect your bills and compare them. See how much you spend on e.g. electricity and how much on your personal items. Think if you really need all the things you buy, or maybe some of them are not really necessary for your everyday life and you could easily do without them.<br />
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</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=4dd1f0e2-bb8b-40b6-83ab-8868a2ad38db" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-15453109591706550812012-04-01T00:52:00.001-07:002012-04-01T00:53:37.363-07:00How to save money? Tip #1: First of all, you need to set saving goals<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s1600/Saving_money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How to save money? Tip #1: First of all, you need to set saving goals" border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbVMg8Iz7kwAL-H3sgEg2WCoojlx21UvPBSN1QQfKvbaHHXYRBrIzCgA18mcsBza6FKQnUjNdUCA8ROyLpwwBZpOjBC1v1PAUsbogJeG8tchvvra7Zgc9K_ymYfqdcaENExR-R6unSWR0/s400/Saving_money.jpg" width="400" /></a></div><br />
First of all, you need to set saving goals, which means stating why do you need money and how fast. <br />
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Decide if your goals are short-term (e.g. buying a new TV) or long term (saving money for a new house). The shorter the term, the less planning it requires. <br />
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Or maybe you just want to simply save some money for no particular goal - then your strategy also needs to be different.<br />
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</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=a22a725b-ef1b-4d93-bfdd-4532edfa77b7" style="border: none; float: right;" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-53551352080639178852012-03-18T15:37:00.000-07:002012-03-18T15:37:37.963-07:00Some Ways for How to Save Money on Auto Insurance<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;">Finding ways for how to save money on auto insurance always seems to be a popular thing to search for. Our monthly bills add up so quickly these days with many things that seem to be “fixed” line items in our budget. You know, there’s the phone bill that costs a certain amount, the cell phone bill you hate, but can’t live without, the cable and energy bills that have long been fixed items we just simply pay every month.</div><br />
<div style="text-align: justify;"><div class="separator" style="clear: both; text-align: center;"><a href="http://www.dreamsandmoney.com/wp-content/uploads/auto-insurance-by-daveynin1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Some Ways for How to Save Money on Auto Insurance" border="0" height="300" src="http://www.dreamsandmoney.com/wp-content/uploads/auto-insurance-by-daveynin1.jpg" width="400" /></a></div></div><br />
<div style="text-align: justify;">What I’d like to try to help you tackle today is another bill that belongs up there; your auto insurance. Car insurance is a bill that many people feel once they have chosen a company and coverage, that’s pretty much what you pay indefinitely, unless of course something happens to raise it. Well, with auto insurance, you have control over some things that affect your rates, other things, you have no control over. So, sticking with the things we can control, here are 8 ways for how to save money on auto insurance you may not have known or thought about.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Shop Around for Auto Insurance Every Six Months<br />
</h3></div><div style="text-align: justify;">Your situation may change a lot over time, and auto insurance companies may take a different view of you as well. This is important to remember, especially if you’re going through a lot of “major life changes.” Maybe moving, getting married, changing jobs (which may change how much you drive, or discounts you may qualify for), maybe carpooling now to save on gas, etc. If any of this may apply to you, shopping around and comparing rates once or twice a year may prove valuable and end up getting you a much lower rate somewhere. There are lots a places you can quickly <a class="zem_slink" href="http://www.metlife.com/individual/insurance/auto-insurance/rv-insurance.html" rel="metlife" target="_blank" title="Vehicle insurance">compare car insurance</a> quotes online like Insweb.com.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Make Sure You Ask for Discounts</h3></div><div style="text-align: justify;"></div><div style="text-align: justify;">My next tip for how to save money on auto insurance involves asking your carrier for whatever discounts they offer. Many auto insurance companies offer all sorts of discounts; some states even require it for people with clean driving records. Some of the many discounts that may be offered include discounts for various safety features that came with your car (like air bags, car alarms, antilock brakes, etc.), good student discounts, being over 50 yrs old, low annual mileage, working in certain professions, if you’ve taken any driving/safety classes . . . the list goes on.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Decrease Coverage for Older Vehicles</h3></div><div style="text-align: justify;"></div><div style="text-align: justify;">My fourth tip for how to save money on auto insurance is if your car is older and paid off, you might want to consider eliminating your collision coverage. Collision coverage pays for any damage that you may cause to your own vehicle, and it can make up a large part of your insurance premium.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Switch to a Higher <a class="zem_slink" href="http://en.wikipedia.org/wiki/Deductible" rel="wikipedia" target="_blank" title="Deductible">Deductible</a></h3></div><div style="text-align: justify;"></div><div style="text-align: justify;">Though the thought may have just caused your heart to skip a beat, the simple fact is that the higher your deductible is, the lower your car insurance premium will be. If you get in an accident, it will cost you more, but the savings on your premium may be worth the risk.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Ask for a Quote Before You Buy Your Next Car</h3></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">This is an idea for how to save money on auto insurance you may not have considered. Before you plunk down your money on a nice, new, shiny car, get a quote from your car insurance agent and find out what it is going to cost you in premiums. They can fluctuate a lot depending on the make, model and year of the vehicle in question.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Purchase Home and Auto Insurance from One Carrier</h3></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">One of the most under-utilized discounts, and my next idea for how to save money on auto insurance, is a multi-line insurance policy. According to many sources, buying your home and car insurance from the same carrier can save you up to 15% or more on both of your premiums.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Don’t Pay in Monthly Installments</h3></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">My next tip for how to save money on auto insurance involves how often you decide to pay your premiums. With most auto insurance carriers, you can set-up to pay your premiums monthly, quarterly, every 6 months, or annually. Many people choose to only pay monthly . . . and they pay for it! Most carriers will charge you various “administrative” fees and surcharges when payments are split up into installments. Even small fees can end up costing you by the end of the year. Many insurance carriers may actually give you a hefty discount for paying in lump sums; up to 15%-20% in some cases.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><h3>Don’t Pay for Coverage You Don’t Need</h3></div><div style="text-align: justify;"></div><div style="text-align: justify;">The last tip for how to save money on auto insurance, is to make sure you read and go over your coverage. Many people end up paying for things they really don’t need. For instance, if you have road side assistance through an auto club, you likely don’t need a towing clause in your policy. If you have health and disability insurance, you may not need medical payment coverage on your policy (requirements for this vary by state, so it may pay to find out). Look for other ways to cut-out extra coverage or unnecessary costs.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Hopefully some of these ways for how to save money on auto insurance can help lower your car insurance premium. Either way, don’t ever make the mistake of finding insurance and just sticking with it. Keep checking around and be sure to keep your coverage up to date. If you have any other ways to save on auto insurance, be sure to sound off in the comments section!</div><br />
<div class="zemanta-pixie" style="text-align: justify;"><img alt="" class="zemanta-pixie-img" src="http://img.zemanta.com/pixy.gif?x-id=20506481-fbf6-4210-9634-bb89c277a34b" /></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-6850790774922989422012-03-18T14:55:00.002-07:002012-03-18T15:05:26.467-07:00Why Not Cancel Auto Insurance to Save Money<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;"><b><a class="zem_slink" href="http://www.metlife.com/individual/insurance/auto-insurance/rv-insurance.html" rel="metlife" target="_blank" title="Vehicle insurance">Auto insurance</a></b> can be expensive, and you may be tempted to drop your coverage as a way to <b>save money</b>. However, there are legal and financial reasons why dropping auto insurance is not a good idea</div><br />
<b>Benefits</b><br />
<div style="text-align: justify;">Auto insurance can prevent financial hardship. If your vehicle is totaled in an accident, for example, you would have to pay for a new vehicle out of your own pocket. If you are at fault in an accident and are sued, your auto insurance can protect you against the loss of assets.</div><br />
<b>Potential Pitfalls</b><br />
<div style="text-align: justify;">In all 50 states, you are required by law to carry at least the minimum mandatory insurance coverage if you own a vehicle. If you are caught driving without insurance, you could be fined, lose your license or possibly even spend time in jail.</div><br />
<b>Considerations</b><br />
<div style="text-align: justify;">If you're having difficulty affording your auto insurance coverage, consider obtaining quotes from other carriers as premiums can vary greatly from company to company. You could also explore dropping unnecessary coverages. For example, if your vehicle is older and of little value, you can consider dropping physical damage coverage (comprehensive and collision) as a way to reduce premiums.<br />
<br />
If drivers are involved in an automobile accident and don’t have the proper coverage, paying for injuries, property damage, and even a lawsuit can cause great financial hardships. In some cases, a forced insurance policy can be placed by a financial institution if a consumer fails to comply with their loan agreement.<br />
<br />
If drivers are looking for a way to save money they should speak to their provider or agent and explain their specific financial situation to them to see if a more <a class="zem_slink" href="http://www.metlife.com/individual/insurance/auto-insurance/rv-insurance.html" rel="metlife" target="_blank" title="Vehicle insurance">affordable auto insurance</a> policy can be obtained rather than canceling coverage.<br />
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</ul></div><div class="zemanta-pixie"><img alt="" class="zemanta-pixie-img" src="http://img.zemanta.com/pixy.gif?x-id=383583db-3f07-4a7e-be2c-25e54aa2b2fb" /></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-87013263785328022222012-03-15T18:05:00.001-07:002012-03-15T18:07:34.577-07:00Discovering What (or Who) is holdinq you back<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;">A variety of personal and emotional hurdles can get in the way of making the best <a class="zem_slink" href="http://en.wikipedia.org/wiki/Finance" rel="wikipedia" target="_blank" title="Finance">financial</a> moves. As I discuss earlier in this blog, a lack of financial knowledge (which stems from a lack of personal financial education) can stand in the way of making good decisions.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">But I've seen some people caught in the psychological trap of blaming something else for their financial problems. For example, some people believe that all adults' problems can be traced back to childhood and how they were raised. Behaviors ranging from <a class="zem_slink" href="http://en.wikipedia.org/wiki/Substance_abuse" rel="wikipedia" target="_blank" title="Substance abuse">substance abuse</a> and <a class="zem_slink" href="http://en.wikipedia.org/wiki/Credit_card" rel="wikipedia" target="_blank" title="Credit card">credit card</a> addiction to sexual infidelity are supposedly caused by their roots.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">I don't want to disregard the negative impact particular backgrounds can have on some people's tendency to make the wrong choices during their lives. Exploring your personal history can certainly yield clues to what makes you tick. That said, adults make choices and engage in behaviors that affect themselves as well as others. They shouldn't blame their parents for their own inability to plan for their financial futures, live within their means, and make sound investments.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Some people also tend to blame their financial shortcomings on not earning more income. Such people believe that if only they earned more, their financial (and personal) problems would melt away.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">My experience working and speaking with people from diverse economic backgrounds has taught me that achieving financial success - and more importantly, personal happiness - has virtually nothing to do with how much income a person makes but rather with what she makes of what she has. I know financially wealthy people who are emotionally poor even though they have all the material goods they want. Likewise. I know people who are quite happy, content, and emotionally wealthy even though they're struggling financially.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Americans - even those who have not had an "easy" life - should be able to come up with numerous things to be happy about and grateful for: a family who loves them; friends who laugh at their stupid jokes; the freedom to catch a movie or play or to read a good book; a great singing voice, sense of humor, or a full head of hair.</div><br />
<div class="zemanta-related"><h6 class="zemanta-related-title">Related articles</h6><ul class="zemanta-article-ul" style="clear: left;"><li class="zemanta-article-ul-li"><a href="http://martimacgibbon.wordpress.com/2012/03/06/lifes-beautiful-badassitude-power-to-choose-laughter-fun-and-enthusiasm/" target="_blank">Life's Beautiful Badassitude: Power to Choose Laughter, Fun, and Enthusiasm</a> (martimacgibbon.wordpress.com)</li>
<li class="zemanta-article-ul-li"><a href="http://bayintegratedmarketing.wordpress.com/2012/03/15/how-to-choose-financial-software/" target="_blank">How to Choose Financial Software</a> (bayintegratedmarketing.wordpress.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.ally.com/about/community-relations/" target="_blank">Giving Back</a> (ally.com)</li>
</ul></div><div class="zemanta-pixie"><img alt="" class="zemanta-pixie-img" src="http://img.zemanta.com/pixy.gif?x-id=f8d8e894-dc88-4f3b-a5d2-47bb17353b0a" /></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-41672538428057195492012-03-15T17:43:00.002-07:002012-03-15T17:58:52.194-07:00Jumping over Real and Imaginary Hurdles to Financial Success<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;">Perhaps you know that you should live within your means, buy and hold sound <a class="zem_slink" href="http://en.wikipedia.org/wiki/Investment" rel="wikipedia" target="_blank" title="Investment">investments</a> for the long term, and secure proper insurance coverage; however, you can't bring yourself to do these things. Everyone knows how difficult it is to break habits that have been practiced for many years. The temptation to spend money lurks everywhere you turn. Ads show attractive and popular people enjoying the fruits of their labors - a new car, an exotic vacation, and a lavish home.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Maybe you felt deprived by your tightwad parents as a youngster, or maybe you're bored with life and you like the adventure of buying new things. If only you could hit it big on one or two investments, you think, you could get rich quick and do what you really want with your life. As for disasters and catastrophes, well, those things happen to other people, not to you. Besides, you'll probably have advance warning of pending problems, so you can prepare accordingly, right?</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Your emotions and temptations can get the better of you. Certainly, part of successfully managing your finances involves coming to terms with your shortcomings and the consequences of your behaviors. If you don't, you may end up enslaved to a dead-end job so you can keep feeding your <a class="zem_slink" href="http://en.wikipedia.org/wiki/Compulsive_buying_disorder" rel="wikipedia" target="_blank" title="Compulsive buying disorder">spending addiction</a>. Or you may spend more time with your investments than you do with your family and friends. Or unexpected events may leave you reeling financially; disasters and catastrophes can happen to anyone at any time.</div><div class="zemanta-related"><h6 class="zemanta-related-title">Related articles</h6><ul class="zemanta-article-ul" style="clear: left;"><li class="zemanta-article-ul-li"><a href="http://www.learnbonds.com/lesson/buy-and-hold-vs-trading/" target="_blank">Buy & Hold versus Trading | LearnBonds.com</a> (learnbonds.com)</li>
<li class="zemanta-article-ul-li"><a href="http://cathysellsbreakerswest.wordpress.com/2012/02/24/study-calls-todays-market-good-time-to-buy/" target="_blank">Study Calls Today's Market Good Time to Buy</a> (cathysellsbreakerswest.wordpress.com)</li>
<li class="zemanta-article-ul-li"><a href="http://smartestpropertyinvestor.com/2012/03/13/how-to-avoid-making-costly-property-investment-blunders/" target="_blank">How to Avoid Making Costly Property Investment Blunders</a> (smartestpropertyinvestor.com)</li>
</ul></div><div class="zemanta-pixie"><img alt="" class="zemanta-pixie-img" src="http://img.zemanta.com/pixy.gif?x-id=ce8c74b7-567b-46ba-ae81-df8af70c3dbe" /></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-75494701939578764912012-03-10T13:25:00.000-08:002012-03-10T13:25:01.671-08:005 Ways to Make Saving and Investing Easier<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;">Tips to Make Wealth Building Enjoyable</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>1. Keep Perspective</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Your investments and savings are ultimately a means to an end. The value of your portfolio rests in the enjoyment and security it provides for your family. This is often the reason normally rational individuals behave irrationally when it comes to their stock holdings; they secretly view each up and down tick as feast or famine.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>2. Get off the Consumption Treadmill</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">You will never experience financial freedom until you have stepped off the consumption treadmill. Once you slip into the habit of borrowing tomorrow’s income to pay for today’s expenditures, you will begin to loathe money and possibly even your job or occupation. Instead of viewing it as an outlet for your talents, gifts and ambitions, it becomes a series of endless tasks you must complete if you hope to break even at the end of each month.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>3. Setup Auto-Withdrawals from Your Checking or Savings Account</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Many brokerage firms allow you to set up regular deposits by electronically transferring money from your checking or savings account each week, month or quarter. This is a very effective way to begin saving because you don’t actually see or miss the cash. On the same note, if your employer offers an automatic withdrawal option for your retirement account, you may want to consider joining.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>4. Educate Your Mind</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">There are hundreds of excellent finance, investing, economics, accounting, business and management books in the world. A few hours of well-directed reading each week can have a fattening effect on your pocketbook as well as give you something to talk about at your next cocktail party.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>5. Reward Yourself</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Clipping coupons and reducing household expenditures does not mean you have to live the life of a miser. Set financial goals and reward yourself when you reach those goals. Positive economic incentives can do marvels for productivity, and you may not find it nearly as difficult forgoing current consumption if you know a new pair of Allen Edmonds is in your future. Besides, when you associate a luxury good with an accomplishment, it has much more meaning and value.</div><div class="zemanta-pixie" style="text-align: justify;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=36aa6d20-f786-4c60-9b17-eac57c3ea653" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-7369715918985718192012-03-10T12:35:00.000-08:002012-03-10T12:35:53.925-08:00Pay Yourself First<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: center;"><b><span style="font-size: large;">One of the most effective strategies to obtaining dreams and goals</span></b></div><br />
<div style="text-align: justify;">Money, like water, expands to fill the container in which it is placed. If you lack an objective set of financial goals for your life, you probably reach the end of each month and find yourself broke. You vow that next month will be different, but it never is.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">This scenario is certainly one with which millions of people can identify. Fortunately, it doesn't have to be that way. One of the most powerful and effective strategies for building wealth is to pay yourself first.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>Start with your monthly bills</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">When you set down to pay your bills, the first check you write should be to yourself. Decide on an amount you can commit to for at least six months and immediately pay that "bill" by depositing the money into your brokerage, mutual fund, or retirement accounts. You must do this even if you cannot afford it! Then, pay your other bills as usual. If you find that you do not have enough money to cover all the expenses, write down the amount you are short and then find away to raise the money. If this means you have to recycle cans, switch to an off-brand cereal, work a few extra hours, or cancel your magazine subscriptions, do it.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>But that's too hard!</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Think it sounds too hard? If so, you must answer this question for yourself: is the pain of giving up your "perks" greater than the pain of being in financial bondage? If it is, you need to resign yourself to remaining in the same financial situation for the rest of your life. In fact, if you are prone to using debt as a means of upgrading your lifestyle, the problem will probably grow worse with time.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Taking control of your finances creates a sense of empowerment that will reach into every area of your life. The freedom that comes from knowing that you and your family will be provided for regardless of what may come up cannot be expressed in words. It is something you will experience for yourself when you make the decision that being financially independent and secure is more important than impressing your neighbors with material goods.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>Honor your Word</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Once most people have given their word to someone, they are careful to keep their promise. They have no qualms, however, about lying to themselves. In order to be successful, you must honor your commitment. You cannot cut yourself any slack. As soon as you miss one "payment", odds are, you will miss another, then another, until you have stopped saving altogether. The secret to success in this game is not so much the amount of money you are investing, but the persistence with which you are doing it.</div><br />
</div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-42067948367750233242012-03-10T12:16:00.001-08:002012-03-10T12:20:34.821-08:00Saving Money vs. Investing Money<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;"><b><span style="font-size: large;">Finding the Right Balance Between Saving and Investing</span></b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Before you begin on your journey to building wealth and finding financial independence, it’s important you understand a few basics. One of the big keys is that saving and <b>investing</b> are two related, but independent, processes that you shouldn’t confuse. A disciplined investor could find himself with dozens of real estate rental properties but unable to pay his bills if he didn’t appreciate the balancing act between the two foundations of success.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Perhaps the best place to begin for new <b>investors</b> is to define the difference between saving and investing.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"></div><ul><li>Saving is the process of putting cold, hard cash aside and parking it in extremely safe, and liquid (meaning they can be sold or accessed in a very short amount of time, at most a few days) securities or accounts. This can include FDIC insured checking accounts, savings accounts, short-term certificates of deposit, or United States Treasury Bills. It can even include FDIC insured money market accounts (but not money market funds, which are not insured). The highest goal for these funds should be to keep pace with inflation but you should avoid risk at all costs.</li>
</ul><br />
<div style="text-align: justify;"><br />
</div><div style="text-align: justify;"></div><ul><li>Investing is the process of using money (called “capital”) to buy an asset that you think will generate a safe and acceptable return over time, making you wealthier with each passing year. An investment can include anything from a small business to fine art, rare wines to gold coins, comic books to stocks, mutual funds, bonds, real estate, and antiques, just to name a few. It can also include song rights, patents, trademarks, or other intellectual property, as it is often called. <b>Good investments</b> are the soundest way of growing wealthy but can take time, perhaps even years, to work out because we live in an uncertain world.</li>
</ul><br />
<div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>How Much Should I Save Versus How Much Should I Invest?</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Saving always comes first. Think of it as the foundation upon which your financial house is built. The reason is simple - unless you inherit a large amount of money, it is your savings that will provide you with the capital to feed your investments.</div><div style="text-align: justify;">There are two primary types of savings programs you should include in your life. They are:</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"></div><ul><li>As a general rule, your savings should be sufficient to cover all of your personal expenses, including <b>your mortgage</b>, <b>loan payments</b>, <b>insurance costs</b>, utility bills, food, and clothing expenses for at least six months. That way, if you lose your job, you’ll be able to have sufficient time to adjust your life without the extreme pressure that comes from living paycheck to paycheck.</li>
<li>Any specific purpose in your life that will require a large amount of cash in five years or less should be savings-driven, not investment-driven. The stock market in the short-run can be extremely volatile, losing more than 50% of its value in a single year. Purchasing a home is a great example as we discussed in Best Places To Invest Your Down Payment Money.</li>
</ul><br />
<div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Only after that these things are in place, and you have health insurance, should you begin investing (this really is vital – for more information on why, read Investing in Health Insurance – One of the First Lines of Defense for Your Portfolio. The only possible exception is putting money into a 401(k) plan at work if your company matches your contributions. That’s because not only will you get a substantial tax break for putting money into your retirement account, but the matching funds basically represent free cash that is being handed to you on a silver tray.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>More Information About Saving Money</b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">For more information about how you can begin saving money, read <a href="http://bao-demo.blogspot.com/" target="_blank">The Complete Beginner's Guide to Saving Money</a>. It is filled with articles, resources, essays, and lessons about how to save money, how to invest money, and how to get started on the road to wealth. It may seem daunting now, but every successful self-made person had to begin by earning money, spending less than they earned, taking those savings, and putting them to work in projects that threw off dividends, interest, and rents. They are no better than you are. If you learn the same thing, and can act as rationally so as to manage your money with discipline, you can enjoy the rewards of success, just as they did. In the end, saving money comes down to simple math. It really is as fundamental as 2+2=4.</div><div style="text-align: justify;"><br />
</div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-37461667936437104462012-03-06T11:19:00.000-08:002012-03-06T11:19:18.151-08:00How Much Money Should I Be Saving?<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;">One of the most frequent questions new investors ask is this: how much should I be saving for investment? Although the question is straightforward, the answer is not so easy because it depends upon a handful of factors. Let’s take a look at the questions and then we can tackle each one individually. Before we begin, though, it's important that you understand the difference between saving and investing. To learn more about this and how you should approach both, read Saving vs. Investing - Finding the Right Balance.</div><br />
<b>The Four Questions To Help You Determine How Much You Should Be Saving</b><br />
<br />
<br />
<span style="text-align: justify;">1.- How much income do you want every year from your investments? This figure should include not only the acquisition cost of the things you want (e.g., the price of a new house), but maintenance and upkeep, as well (heating, air conditioning, insurance, lawn service, etc.).</span><br />
<div style="text-align: justify;"><br />
</div><span style="text-align: justify;">2.- How much volatility (meaning, watching your account value fluctuate) are you willing to take? The more quickly you want to get wealthy, the bigger the swings in value, both on the upside and downside. You may, for instance, have to watch you’re account drop by 50% or go up by 100% for aggressive strategies that have the potential to get you to your goal sooner.</span><br />
<div style="text-align: justify;"><br />
</div><span style="text-align: justify;">3.- At what age will you need to access the money? This is important because the huge advantages of tax-free and tax-deferred accounts won’t be available to you if you want to withdrawal the money before you are 59 1/2 years old or else you’ll be forced to pay substantial penalties to the IRS (unless you qualify for one of the Eight Ways to Avoid the 10% Early Withdrawal Penalty.</span><br />
<div style="text-align: justify;"><br />
</div><span style="text-align: justify;">4.- To what degree are you willing to sacrifice your current standard of living for your wealth goals?</span><br />
<ol style="text-align: left;"></ol><br />
<span style="text-align: justify;">Now, let's look at how these factors work together to answer the question: How much should I be saving?</span><br />
<br />
<b>How Much Money Do You Want From Your Investments Each Year?</b><br />
<br />
<div style="text-align: justify;">How much money would it take for you to live the way you want? Would it take $50,000 per year? $150,000? Perhaps $500,000. Back out any income you have from your job (if you don’t want to work, skip this step), and any other income you may have. Then divide the figure by .04 to find out the assets it would take to support that level of annual income. (Why .04, you ask? Many financial planners calculate that an investor could withdrawal 4% of their money each year and the account would still generate enough, over time, to maintain its current value after adjusting for inflation.)</div><br />
<div style="text-align: justify;">An example might help. Let’s say you want to make $80,000 per year to live the way you want. You only want to work part-time and figure you can make $20,000 per year. You expect to collect $15,000 per year in Social Security. You would take $80,000 - $35,000 = $45,000. Then $45,000 divided by .04 = $1,125,000. That’s the amount that would be required for you to earn the other $65,000 from your investments and never run out of money.</div><br />
<div style="text-align: justify;">Now, you need to figure out how soon you want the money. Let’s say you are 35 and you want to retire at 65. That gives you 30 years. Using any one of the thousands of savings calculators online (check out this one from Bankrate, for instance: Savings Calculator), you can plug in your numbers and figure out what it would take in terms of monthly savings to reach your goal. Assuming you can earn 8% on your investments, it would require $754.85 put aside each month until you retired. (If you started at 25, instead, it would take only $322.26 per month due to the power of compounding. If you started at 18, it would only take $181.09 per month.)</div><br />
<div style="text-align: justify;">If you don’t want to leave anything to your family, friends, or charity (a charitable remainder trust can be a great choice for investors), the savings figures would be much lower because this model assumes you maintain the $1,125,000 fund in perpetuity. That is why you’ll see many financial planners estimate your lifespan. They’ll actually design a program so that your money runs out at, say, 85 or 90 years old.</div><br />
<div style="text-align: justify;">You can reach your goal much faster by saving more each month. Whether or not you can accomplish that will depend on how much you are willing to sacrifice. Even an extra $300 per month can mean arriving at your savings goal years, or perhaps even decades, earlier than you otherwise could. Is that worth driving a used car or not ordering anything but water at restaurants? That depends on your priorities and no one can answer that question for you. I addressed this in The $25,000 Bouquet of Roses.</div><br />
<div style="text-align: justify;">Several years ago, I made a commentary about the situation in Detroit. Given the skyrocketing unemployment, poor job prospects, and unfavorable demographics of the area, I was asked what I would do if my family were in the city. My answer: Move. I’d pack everything we owned, find a more favorable economic climate, and move there. The odds of catching something (in this case, a high paying job and good schools for the kids) would be much improved by casting my line in a pond with a lot of fish.</div><br />
<div style="text-align: justify;">A handful of people responded strongly that I was completely out of line for suggesting that families uproot themselves. I’m not sure how to say this politely, so I’ll just put it out there: If you aren’t willing to inconvenience yourself for the chance at a better life, you better learn to be content with poverty. That’s all you’ll ever have.</div><br />
<div style="text-align: justify;">In my own life, this was a decision I made early. Unlike virtually all of my friends, I refused to buy a car until I was more than 23 years old because as a teenager, I realized they had huge ongoing costs in the form of gas, insurance, and more. It took discipline (and certainly wasn’t always pleasant), but when I finally did by my first vehicle shortly after graduating college, it was a beautiful Jaguar that I got at an incredibly attractive price. At the time, I had little to no debt, my taxes were paid, and I had built a substantial investment portfolio thanks to working my way through school. My saving and investing had paid off, despite having to put myself through college. My friends lacked patience, wanted instant gratification, and bought their cars at 16 with auto loans that charged interest.</div><br />
<div style="text-align: justify;">The rule of thumb can be summarized as the more you are willing to give up today, the faster you can reach your savings and wealth goal. One warning: Do not take this to the extreme. As famed economist John Maynard Keynes pointed out, “In the long-run, we are all dead.” Money exists only to allow you to have the kind of lifestyle you want and open doors of opportunity for your family. As my father told me before he and my mother left me on the college campus all of those years ago, never trade an opportunity or experience for money because it will be a poor bargain. I certainly did not live like a pauper (far from it). Most of this was possible because my early discipline allowed me to avoid the massive interest charges most Americans pay on their homes, credit cards, cars, student loans, department store charge accounts, and more.</div><br />
<div style="text-align: justify;">You can use the same calculator from earlier in the article to increase the savings amount you are willing to put in each month. It will generate a new answer, showing you how soon you will reach your goal. In the case of our earlier example, the 25 year old that was willing to kick in the extra $300 per month would be able to retire on schedule at 57 years old and 10 months, or nearly 7 years and 2 months earlier than planned. Is that worth it to you? Is giving up $300 a month worth an extra 7+ years of retirement? Again, only you can answer that question.</div><br />
<div class="zemanta-pixie"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=383c8910-802c-4b5f-9bcc-6cdd46dbed26" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com0tag:blogger.com,1999:blog-2789759751857306022.post-45033377046633219972012-03-06T11:00:00.003-08:002012-03-15T13:09:57.681-07:00The Complete Beginner's Guide to Saving Money<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: center;"><h3>Saving Money Tips and Tricks to Help Keep Cash in Your Pocket</h3></div><div style="text-align: justify;">Saving money, or the saving habit as <a class="zem_slink" href="http://naphill.org/" rel="homepage" target="_blank" title="Napoleon Hill">Napoleon Hill</a> put it so many years ago, is the foundation of all financial success, including investing. Having money saved is what provides the means for you to take advantage of situations, whether it's going back to college, starting a new business, or buying shares of stock when the market crashes. These saving money resources will provide a foundation and answer questions such as, "<b><a href="http://bao-demo.blogspot.com/2012/03/how-much-money-should-i-be-saving.html" target="_blank">How much money should I be saving?</a></b>" and "What is the difference between saving and investing?". You'll also learn the best places to save things like down payment money on a house.</div><br />
<div class="zemanta-related"><h6 class="zemanta-related-title">Related articles</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://www.businessinsider.com/the-beginners-guide-to-investing-in-gold-online-2012-2" target="_blank">The Beginner's Guide To Investing In Gold Online</a> (businessinsider.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/jd-roth/basic-financial-frameworks_b_1248324.html" target="_blank">J.D. Roth: Ask the Readers: Basic Financial Frameworks?</a> (huffingtonpost.com)</li>
</ul></div><div class="zemanta-pixie"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=54fcc2e9-5ee2-44dc-97f0-eb26bab5fb80" /></a></div></div>Andreahttp://www.blogger.com/profile/03133301827360493806noreply@blogger.com1