The Wants vs. Needs Battle and How It Affects your Budget

Every person who 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. Most of us (especially those of us deep in debt) are very good at rationalizing our purchases. Here are some tips to help you overcome the urge to buy the things we want, rather than those we need.

What the wants vs. needs battle does to your budget

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.

Make a shopping list and stick to it

Here is 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.

Ask yourself: Can it wait?

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.

Watch who you run with

This can be 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.

Create your own mad money jar

Of course, 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.

Six Savvy Car Shopping Moves to Keep You From Breaking the Bank

Unfortunately, in recent years transportation has once again become an issue for not only those with a tight budget, but for everyone. It literally is madness the way gas prices have continued to soar. It does not seem like that long ago when prices were sub eighty-cents per gallon. Now it feels like that would only happen in those pictures that occur between midnight and six AM.

There is an assumption that with the age tag of forty there is some stability in the workplace and at home. If that is the case there are some simple ways to save money on transportation costs, while also offering different experiences and health friendly alternatives.

For basic transportation issues, one of the best solutions is as simple as a carpool. If the drive is thirty minutes to work and there are two others who can alternate drive then the saved money from gas can reach three figures each month easily.

If the city is where one lives, perhaps a nice bike or a walk can really save a big load of money, while also keeping the circulatory system strong.

Travel is exciting for many people in the United States and beyond. Perhaps there are friends in New York, or a cool spot in Chicago, flying between home and multiple places can place a major strain on a wallet. Of course there are discounted flights that are popping up all over the place, but for many the cost of flying deters many from taking as many vacations as are desired. Shockingly many of these travelers have never considered a nice train ride to their destination. Now a train ride solves the problem of hassle, which accompanies a long car ride, and it saves a plethora of money that can be wasted on a flight. Modern trains are extremely comfortable, and who would not rather spend money on a Broadway show rather than a mode of transportation that will put everyone in the same destination.

It is a little shocking that the price of gas has become a major expenditure issue in the past few years, but it has been showing no signs of slowing down. Really the best choice is to cut back on gas expenditure in any way possible, be it with some carpooling, walking, or avoiding the jets. Simple steps can be made all over to save some transportation money and help out the environment. This is one tip you can use when trying to accomplish your goals.

Credit card debt is also considerably higher than 30-somethings. According to MSN Money one in 10 people in their 40s have more than $10,000 in credit card debt, compared with one in 12 people in their 30s.

More income and more experience money managing explain why fewer 40-somethings are getting behind in bills. At the same time people in their 40s are getting much more serious about retirement than the younger aged. Once again MSN Money states, “The percentage of people who have workplace retirement plans or IRAs rises to 59% for those in their 40s, compared with 53% of 30-somethings.” This statement should mean a lot to those in their 40s.

You can find several transportation resources for seniors in your telephone directory or on the Internet. Check with your municipal and county departments for available services. In some cases, you may have to complete an application form. Some may require the signature of your doctor or medical professional. If you live or plan to live in a senior facility, private shuttle services to shopping malls and group social activities might also be available as a standard part of the residential package.

Ten Ways to Simplify your Life and Lower Debt

You should shop for quality insurance. Ask your friends for their recommendations. Do they like their insurance representative? Does the insurance agent seem to be responsive to their needs? Is the agent easy to contact? How long have they had this agent handling their insurance?

Determine your real needs. What types of insurance will you need in retirement? Consider medical, dental, free or low cost coverage. Look at your medical bills and see the types of services you were charged for? Do you anticipate needing surgery or more heath care?

Get several quotes. Even if a company is recommended by a friend or relative, you might want to get at least three quotes so you can make a comparison of the services and fees. Check the Better Business Bureau (BBB) website for any complaint. Also check the rating of the insurance company. Among the commonly-known rating financial agencies are Moody’s and Standard & Poor’s.

Be prepared to answer a long series of questions as they relate to your health.

Ask about annuities, Medicare, Medicaid, Medigap, prescription drug payment assistance, long-term care insurance, travel insurance, etc.

How stable is your current income flow? Do you currently own financial products? Are you wondering whether you should cash out any of your financial products? Ask your rep if you should refinance your home or not.

There are many reasons to save money. One main reason is retirement. Today you cannot live off of social security alone. Another reason to save is because there are situations ahead. Even if your children are still in high school, college is not far away, and neither are cars and graduation parties. Another good reason to save is because you know you’ll want bigger, better things soon. You know soon you’ll want that bigger house, or that better car, or that boat you’ve been dreaming of. Save now so all of those are an option. Another reason to save is because of the unexpected things in life coming toward you. For example there’s job less, illness, or home repairs. These are all things you’ll need saved money for. According to bankrate.com, “Americans today spend more than they earn. Savings are less than zero. But you can break out of that mold all on your own and reap the benefits of feeling free and independent.”

Here are some real ways to save, and save aggressively. First of all, pay off all of your credit cards. That credit being open is an amazing opportunity, character uplift, and safety net. Debt is suffocating. Next, make sure you budget your income so your cost of living is as low as possible in contrast to your income. That is, if you calculate your bills, your gas, food, and extra spending, it is much less than what you’re bringing in. With that extra money, you save. Put it in a savings account and act like it does not exist. Another great way to aggressively save is to have a roommate. If you are single, this is a great way to literally split your bills in half. Carpooling is also a great way to save money and split a bill in half.

Lastly, when it comes to saving it is very important to remember you’re spending and what is necessary and just a want. For example, calculate how much money you are spending on going out to eat and how much that would equate to for groceries. You’d be surprised. Remember how much you’re buying that you don’t need, that you won’t even use that often. Is it worth it right now? Saving and not spending when it comes to wants is exactly what makes it aggressive saving.

Living the Budget Balancing Act and Coming Out Ahead

These days, most of us are doing a funny dance. It’s called the budget balancing act and it can make many of us feel crazy at times. However, keeping a budget and balancing it with the rest of our lives is a responsible and worthwhile enterprise. Budget balancing means taking responsibility for your finances, living within (or better yet, below) your means and coming out of it with our sanity intact. Here are some tips for living the budget balancing act and coming out ahead.

Make your budget real by putting it into real numbers

Many people make the mistake of thinking of their budget in abstract terms. “I’m on a budget,” you might tell a friend who asks you to accompany her on vacation, or to an expensive dinner. Most of us are on such 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. Many 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 ins ide out—what you can and can’t afford, how you pay for things, your debt and credit score, and savings.

Keep a log book

If 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.

If you haven’t already, set up your bank account online

Almost every bank in the world now allows its customers to keep an online account. If you haven’t already, set up your account. This is an easy way to manage your accounts, check balances and make payments. Set up an automatic bill payment. This is an easy way to make sure that your payments are always made on time. Many credit card companies and banks will even send you email reminders and payment confirmations if you so choose.

Avoid debit cards if you’re on a strict budget

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. Once you have constructed 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.

Check your interest rates

If you have credit card debt, do you 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 purchases and balances? Check with your credit card for this information. If you have long-standing accounts in good standing, try to lower your interest rate.

Three Banking Tips to Keep Money … In the Bank!

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. So you’ve got to ask yourself, depending on how long the card is in your possession and how much money your card is worth, which option will be better in the long run. 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. 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.

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. These fees will be elaborated on below.

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.

Five Money Ways to Simply your Life and Breathe a Bit Easier

Are you stressed out over your finances? Do your finances remind you of a weedy jungle, full of chaos and danger? If this description strikes a chord, it’s time to get control over your financial life. One of the biggest benefits, and curiously under-touted aspects of simplifying your life, is that it can help you save money. Simplifying your life can not only help you save lots of money, it can also help you breathe easier. And who doesn’t want to breathe easier? These things—money, stress and organization—are intricately connected to one another. When we get one into control, the others will follow. Here are some tips for getting control of your finances, save money and lower your overall stress levels.

Spend 15 minutes every day cleaning up your finances

Many of us who find ourselves trapped in a chaotic financial life probably overlook the regular financial housekeeping that can keep the chaos at bay. It can be easy to forget, avoid or simply overlook several small tasks. These things eventually gather dust, take up space and pile up to the point that they become overwhelming, scary and bad for our finances. Here is a simple habit to fall into that can help protect you from the horrible sight of stacks of unpaid bills and stray papers overflowing on your kitchen table or desk. Spend fifteen minutes each day cleaning your desk, kitchen table, or wherever it is that you keep your important financial papers. Go over bills, throw out old mail, sharpen your pencils, and put things in order. If you are not the kind to keep extensive tabs on your papers, make it easy for yourself. Dedicate one desk drawer to your bills and other financial papers. Go through your drawer each day and make sure that there is nothing in there that will surprise or scare you one day. Si mply dedicating fifteen minutes each day is an easy way to simplify your life, stay organized and save money on unpaid bills, fines or other surprise costs.

Make your own easy household products

Here is an easy way to save money and keep things simple. Why spend five bucks on a bottle of multipurpose cleaner when you can spend pennies on your own homemade household product. Replace your expensive Windex cleaner with your own concoction of ammonia, vinegar, water and rubbing alcohol. If you want it to look blue, add a few drops of blue food dye. You can make a full bottle for about 35 cents. This is an easy way to make an effective, safe and very inexpensive household cleaner.

Keep household essentials in stock and save money by buying in bulk

Ever reached for tissue and find that you are out? Or what about needing a napkin and finding none in stock? Not having household essentials on hand can be stressful and frustrating. Many times when we are hurried and harried and shopping for a household essential, we tend to overpay. After all, who has time for comparison shopping when you are in the midst of a throbbing headache? Save yourself the stress by shopping in bulk for household essentials. You should only buy in bulk when you know you’re getting a good deal. If tissues are on sale, grab a few boxes. There are many non-perishable household essentials that are easy to buy in bulk, including toilet paper, toothpaste, tissues, napkins, canned food and others.

Get a bill calendar

With many of us juggling numerous bills, it can be easy to drop the ball every once in a while. Keep things simple and your bills paid by keeping a handy bill calendar. Buy an oversized calendar and put it somewhere easily visible. Make a note of when you have to make payments. Even simpler, automate your payments online if possible.

Sign up for email updates

If you can’t automate your payments but you check your e-mail often, signing up for email updates is an easy way to keep track of your accounts. Most credit card companies offer many easy tools for keeping a close eye on your accounts.

Realize a Bigger Paycheck by Plugging these Money Draining Holes

Everyone has them-those incidences, circumstances, or habits that drain them of their finances. They also have the people in their life who just take and take but do not give.

Take Action-Get Your Life Back!

If you are having issues with money it is time for you to stop blaming your outside circumstances. It is time to set boundaries between you and your money and those items which drain your pockets dry. Characteristics of Money-Draining Holes

A money-draining hole is usually recognized by its menace-ness. For instance, it could be a lemon vehicle that you have had to fix every day for the last month. It could also be carelessness with glass dishes, or it could be letting too many people borrow your DVDs.

It could also be an item that you cannot seem to do without, such as cigarettes, coffee, or alcohol (the definition "cannot do without" being it is your first priority over food or other necessities). Whatever the case may be, you need to take action.

How to Change your Habits

The over-used saying "Old habits die hard" is so true. It is not easy to say no to people and harmful substances. Moreover, it often can slip your money to turn your automobile lights off or to check your oil,However, taking proper care of your items and being careful who you lend them do is one step to take. The other is to seek help and accountability from those who have conquered bad habits. By the way, if you are one who needs to kick a habit such as smoking in order to save money you may be overwhelmed at the cost of therapy. However, in the long run you probably will save money. Besides, there are discounts for those who have a limited income. You also can find free help from peers in certain situations.

Moreover, saying no to people takes practice. If this is your biggest obstacle to financial freedom then you may need some assertiveness training. Read all the books, watch all the video, and listen to all the audio you can to help you learn what saying "no" sounds like.

Then, join a group of supportive people also learning how to say now. After you have taken assertiveness training then you will be better-equipped at handling guilt trips from a mom, dad, sister, brother, husband, wife, friend, or children, or other loved one.

Take One Day at a Time

Of course, do not be too hard on yourself if you cannot change your entire lifestyle within a few months. The time-tested saying "one day at a time" really does help people to concentrate on making decisions for that day that are healthy.

Do not worry about whether you will be able to do the same tomorrow-just for today concentrate on making the right decisions. Then, when you get up tomorrow concentrate on that day. This doesn't mean you shouldn't make some plans though.

Anticipate all Possibilities

You need a balance between taking one day at a time and being prepared for all possibilities. If you begin to change your habits and begin to be able to set financial boundaries you will have more money set aside for all expenses, plus any emergency that hopefully will not arise.

Purchasing house, car, and health insurance is also a very important aspect of being prepared. If you change your habit you will be surprised how much you would have available for these precautionary expenses. Roadside assistance coverage such as AAA also comes in handy "Just in case.”

Six No-Nonsense Ways for Living Below your Means

You may be a person or family who knows you need to get a handle on your finances. However, it is hard for you to get ahead. It seems no matter how hard you try you wind up in the same trap.

Perhaps it is time to go back to when you first started working on living within your means. The following are helpful tips for living below your means:

Shop for Bargains. There is no shame in paying less for quality items, especially if it will reduce your financial burden and stress. For instance, you can find like new clothing-even brand names-at thrift stores, factory outlets, and discount stores. You can also find just about any household item you need at online auctions.

Purchase off-brand food items. Some food items are not the same as the generic version (bologna for example). However, for most items, such as milk, eggs, margarine, bread, cereal (certain ones) and more the generic brand is less costly but tastes the same. You usually can find the same both dollar stores and regular stores sell off-brand items, and you can even find them at factory outlets or close-out stores.

Do not invest more than you can afford to lose. A general rule of thumb is to have a backup fund equal to the amount of money that you plan to invest in stocks, bonds, mutual funds, or forex. If you are planning to start a business it is wise if you have some capital in case of malfunctions and emergencies.

ALWAYS keep tracking of spending! This is one of the practices in which countless individuals and couples fail to follow through, and it costs them big at times. Overdraft fees can add up, and you could end up paying hundreds of dollars a month if you do not figure out your account balance each time you plan to shop.

The Old-Fashioned Rule: Delay Gratification: This concept -second to "obedience"-is probably one of the least favorite of all human kind. However it also is one of the most necessary in order to reap long-term rewards in life. It is time to break the cycle of spending money you do not have and instead saving for what you want.

Learn to say no: When your children ask for toys at the checkout counter tell them no. Do not give in to any crying tantrums either, or you will reward irresponsible money management behavior in them. Also, say no to friends who seem to drain your pockets every time you are around.

Additional Money-Saving Ideas:

If you have a problem with spending, you might want to consider getting rid of your credit cards as well. If you need to purchase items online you can do so with a debit card. Besides, debit cards only hold as much money as you put on them.

Conserving and reusing is also another option that you would want to consider to help you stay on track financially. Shopping bags, food containers and other items are some of the most commonly-reused items. Furthermore, using biodegradable paper plates once in awhile can reduce your water bill.

Now that you have read this article, a new fire has hopefully sparked within you. Perhaps you have even thought of your own ideas for saving money every month. There is no wrong way to figure out how to live within your means. You also can find additional money-saving tips by searching consumer websites and reading budgeting magazines, and other publications. Professionals are also trained to help people in need of help with money management.

Cutting Expense Corners during Baby's First Year

It is often said that the first year for new parents is the hardest. With new baby comes immeasurable joy but also incredibly strained finances. It is estimated that the average family will spend between $9,000 and $11,000 during baby’s first year alone. Take heart, new parents. There are plenty of ways that you can cut many of your costs simply by being careful with your money and not indulging in every whim.

Make a deal with yourself to save money

If you are an expecting parent and you are concerned about the high costs of baby’s first year, make a deal with yourself to save money. One of the hardest things to do as an expectant parent is to resist buying everything in sight. Every parent wants the best for their child, but keep in mind that many of the things you buy during baby’s first year will be only used once. Buying name-brand diapers and an overpriced bassinet that you can’t really afford is not going to do your baby any favors. Make a deal with yourself to save where you can, to keep from overspending on items that may be beautiful but not particularly necessary in the long run, and to be smart about your baby’s purchases. Here are some ways to save money without compromising your sanity or your baby’s health and happiness.

Breastfeed whenever possible

Breastfeeding has been proven as the healthiest option for feeding your baby during the first years. Not only is it healthier for your baby than bottle feeding, it is also more economical. Most doctors agree that breastfeeding exclusively during your baby’s first half year of life will help give his immune system a boost. Not only will your baby benefit from increased health, your wallet will benefit from increased savings. Some mother’s are not able to breastfeed their children. If this is the case, you can save money by avoiding the brand name formula and buying the store brand or generic formula instead. Generic formula costs on average 30% less than name brand formula and, by law, must meet the same FDA standards as the brand name formulas. You can also save on formula by signing up for coupons from manufacturer’s mailing lists. Your pediatrician can also provide you with free samples. Always look past the attractive name brand packaging, because in most cases that is what you will be paying for.

Save money by switching to generic diapers

If you want to save money on disposable diapers, always opt for the generic brand. Many larger chain stores carry their own store brand of disposable diapers which are usually just as good as the brand name diapers. You can expect to save about 30% on disposable diapers simply by buying the generic store brand.

Shop at garage sales and second hand stores for used baby clothes

Most babies will quickly outgrow their expensive little outfits. You can often find nearly new or gently used baby clothes at garage sales and at used baby clothes. While it may be tempting to shop at chain baby emporiums, you will quickly save on baby essentials if you get into the habit of frequenting gently used baby stores.

Shop consignment stores for great deals on baby furniture

One of the biggest expenses you will have as a new parent is furnishing the baby nursery. You can save a lot by shopping for gently used baby furniture, including high chairs, bouncers and cribs. Shop consignment stores and gently used baby stores for great deals on used baby furniture. You can also find great baby gear such as bathtubs, strollers and monitors.

Eight Ways to Save on your Drug Prescriptions

Taking medication for different aliments is essential to the treatment of any problems you may be having. However, prescription drugs are expensive and having to purchase many medications can be draining on your wallet over time. Luckily, there are some solutions and ways for you to save money of your prescription medication. Follow the steps below to learn how to save money on prescription drugs.

Buy generic. Almost every medication on the market has a generic equivalent. These generic medications are just as effective and much more cost effective. When you doctor prescribes a medication to you, ask if generic is an option.

Become a smart shopper. Instead of getting your prescriptions from the pharmacy that is most convenient, study the prices of various pharmacies to see which place will save you money on your medication.

Have an open relationship with your doctor. Before buying expensive prescription drugs, speak with your doctor about your medical problems. You may find out about another, cheaper medication, or that you don’t need medication at all.

Get insurance. There are several different insurance companies that are willing to cover your medication expensive to some extent. Find the insurance companies for which you are eligible and see how much money you can save on prescription drugs.

Get a discount card. Most pharmacies have different cards that can be used in the stores that give discounts on prescription drugs, offer coupons or help you to earn points that can go towards future prescription drug prices.

Additionally, besides following the above mentioned steps, remember to make sure hat you need the medication before you begin taking it. If there is a chance that you don’t need the medicine, or can reduce the amount of medication you take, you can save money over time.

Remember that if you are trying to cut costs on medication by ordering medication from different countries, you may not be choosing the safest option. These medications are not always approved or checked by the government and can be dangerous to your health.

Today, it’s common for the average person to owe $10,000 or more in credit card debt. Even if you owe as little as $100 on a credit card, you should always pay more than the required minimum payment. Try to double your payments wherever possible or pay at least 25 percent more than required. For example, if your required minimum is $20, try to send $40 or no less than $25.

Monitor your interest rate. If you have a high rate, ask your credit card company for a lower one. If your credit card company declines your request for a lower rate, consider transferring the balance to another credit card company. Also, consider consolidating your debt to a single card. Credit card companies may “forgive” and remove one late payment within a 6- or 12-month span. However, this is not an automatic service. You must call the credit card company to ask that the late fee be eliminated.

Avoid late fees. Mail your payment no less than five business days before it’s due. In fact, in some cases try to send your payment no less than six or seven days prior to when it’s due because some payments are considered late if received after a certain time of day (e.g., 1:00 p.m.) on the day it’s due. Avoid cash advances on your bank credit card. The interest rate may not make it a feasible choice. Considering the poor economic trends, you may want to apply for credit card insurance to cover periods when you are unemployed. If unable to make your payment, contact your credit card company to suspend your payments voluntarily for three months.

Cheapie Ways to Stretch your Dollar in the Bathroom

Decorating or re-decorating your bathroom does not have to cost you your entire savings, or your whole paycheck. You can find creative ways to renovate one of your home's most-used rooms for a fraction of what you may think it would cost.

Useful Bathroom Re-Decoration Tips

You can find plenty of timeless decorative items at thrift stores, rummage sales, and online stores. Items people have found to accent their bathroom include one or more of the following: brass toilet paper holders, tissue holders, hanging shelves, towel racks, and shower curtains.Â

If you do not like the color of your bathroom tile you can find paint that is especially made for porcelain materials at your local hardware store. You might even be able to find out if you can repaint your toilet as well which would save you even more money.

Beware that you will need to sand it before you attempt to paint any porcelain fixture. You will also want to take precaution by testing the paint in an inconspicuous area of the fixture you want to change the color of. is advisable to test the paint in an inconspicuous area of the time you want to change.

If you want to somehow update your outdated bathroom color scheme you can do so without ripping the entire bathroom apart. For instance, sometimes if you add the smallest change, such as wallpaper border that blends with the two or more colors of your bathroom.

You can also accent the outdated color scheme by purchasing inexpensive modern bathroom decor. For instance, you can buy a toothbrush cover, soap dish, tissue holder, or framed picture to hang in this beloved room of your home.Â

Perhaps if you want a change paint the walls of your bathroom to compliment your cabinets, sink, or bathtub if they are a different color. Similarly, you can use colored rugs that coordinate or contrast with the rest of the colors of your fixtures.

One recommendation for painting in your bathroom that would not take much work or money would be the "in" color Terra Cotta. It is one that is more popular now. You could possibly use various texturing techniques to combine a new color over the top of the old color if your walls are still in prime condition.

If you have a very, very, old and ugly shade of green, yellow, gold, orange, or similar color you could try for a certain theme. For instance, you might want to try a tropical theme, and perhaps you can find a palm tree border.

You can take care of rust problems on fixtures such as towel bars with a special cleaner. Before you know it they will be like new again. Rust-o-leum paint is one of the most current recommendations, and they are coming out with brand new colors now.Â

Another easy way to add some life to your stale bathroom is to purchase stencils and special craft paints. In fact, one experience indicates certain craft paints are removable from tile just by applying a razor blade (something to try at your own risk, especially if you rent).

The use of Deco-Stix or cling plastic accents is also used to decorate tiles. These are also very easily removable if you want to change the theme for various holidays, seasons, or special occasions.

The easiest way to recover a mix-up bathroom that includes all kinds of mismatched colors is to add a multi-colored rug that includes all the same colors. It will cleverly look like your bathroom is supposed to be crazy like it is.

The above-mentioned ideas should get you started. If you are still cannot decide on what inexpensive measures you can take to re-decorate your bathroom take some time to view samples of bathroom themes.Home improvement websites and do-it-yourself magazines often feature various rooms of the home you are interested in changing. You can even find instructions on how to carry out the change you would like to implement in your bathroom interior theme.

Seven Simple Ways to Save Money Today

Are you feeling the pinch in your pocket? If you are, you are certainly not alone. Millions of people are feeling the effects of an economic downturn, environmental uncertainty and a slow job market. Saving money has never been so important in some households than right now. With this need to save money so urgent, here are seven simple ways that you can help you start saving money today.

Cook your own dinner

Even if you don’t know how to cook or think you may not like it, eating out is by far one of the most costly pleasures that many of us indulge in. Eating out may not seem like a big part of your spending budget, especially if you are careful about where you eat and head for the happy hour specials. But eating out is often one of those seemingly invisible drains on our savings. Unlike a major purchase or a vacation, it can be hard to keep track of how many times we eat out every week or how much we spend on that smoothie, latte or brunch. One of the simplest ways to begin to save money is to get into the habit of cooking often at home.

Brown bag it to work

Speaking of eating out, work lunches are another of those invisible drains on our wallet. Eating out for lunch often does not feel like eating out because it is usually not a pleasure outing. You are simply filling up before heading back to work. But if you are like most people, it can be very easy to eat out several times a week without even realizing how much money you are spending on lunch. If you’re serious about saving your hard-earned cash, make it a priority to brown bag your lunch at least three times a week. If you still need incentive, sit down and do the math. Once you have seen exactly how much you’re spending just by going to work, you might feel differently about brown bagging it.

Make a shopping list (and stick to it)

One of the biggest mistakes that most of us make before going shopping is that we arrive at the store unprepared. It can be very hard to resist temptation if you arrive at the grocery store without a plan of attack. Without a list, there is a very high chance that you will buy items that are not urgent or even necessary. You may even leave the store without buying one or more of the items you came to buy! Before heading to the grocery store, make a real effort to sit down and make a complete list of everything you really need. Don’t rely on your excellent memory and cross off each item as you move along the aisles.

Stock up on perishable items when they’re on sale

Be savvy when you go shopping. You will always need certain items: toothpaste, toilet paper, shampoo, cereals and other common household goods are good things to stock up on when they happen to be on sale.

Use your local library

Maybe you haven’t stepped inside a library since . . . ever. If you are not familiar with the modern library, you will probably be surprised about what you’ll find inside. Free internet use, new release movies, bestsellers, free movie nights—many local libraries offer numerous opportunities for free entertainment. Remember that your taxes pay for the library, so go ahead and use it.

Make comparison shopping a habit

No matter what kind of purchase you’re making, large or small, the smart consumer always does a complete price check. Whether you’re planning on buying a new book or a new car, simply checking online and making a few calls can save you a lot of money.

Get organized

One of the easiest ways you can save money year-round is by becoming more organized. Organize your monthly bills, credit card accounts, shopping lists, clip coupons and organize all of these in one easily accessible folder. Save money on unnecessary late fees and don’t overpay simply by organizing your financial papers and accounts.

Top Ways to Increase your Net Worth

Talk with your plan administrator

Contact your employer’s benefit representative to learn the details of your plan. In summary, you must first reach the statutory limit of $15,500 in 2008, or other required limit before you are eligible to make catch-up contributions. Furthermore, employers are not required to match catch-up contributions.

Pay Yourself First

The catch-up contribution is a great opportunity to invest more dollars into your retirement account. However, some 50-year old individuals are embarking on life-changing financial events in their personal lives or careers, where they are in the midst of starting a new marriage or second family, going through financial upheaval from a marital divorce, finishing a first or second college degree, trying to pay down credit card debt, making mortgage payments on a new home or second mortgage, providing for adult children who remain or return home, or suffering the loss of a spouse. Even in light of these pressing circumstances, try to turn your attention on your future retirement needs. It’s easy to be distracted by these tough and emotional matters, but you need to consider your own financial future as well.

Talk with your personal financial advisor

If you are faced with any of these financial challenges and feel that you just cannot make additional contributions, talk with your employer’s benefit representative or your personal financial consultant for advice on how to take advantage of this provision. Now is the time—it’s not too late.

Assets

An investment is an asset (money or something of value) set aside for future sale or use. Examples: savings accounts, property, stocks, bonds, mutual funds, individual retirement accounts (IRA), pension funds, emergency funds, rare coins, precious metals, and gems.

Balance

While it is very common for most people to have credit card debt and owe bills, it is important to pay down your debt. As you reduce your debt, the value of your investments will increase—much like tipping a weighing scale

Career

Your ability to earn money from gainful employment or entrepreneurship is one of your greatest assets. While you may have graduated from college many years ago, it’s important to protect your investment in your career by taking continuous training or retraining to remain competitive in the job market.

Diversify

According to the old adage, “you should never put all your eggs in the same basket.” Avoid investing all your funds in the same type of investment or the same type of industry.

Expenses

Expenses are payments and charges—for tangible and intangible items—necessary and unnecessary—that cause money to come out of your wallet, bank account or other reserve. It’s important to evaluate your spending to determine where you can eliminate unnecessary

Growth

When making an investment, it is important to realize whether it will grow at a steady and continuous pace (e.g., interest rates on bank accounts) or will the investment be affected by market trends (e.g., real estate and stocks).

According to Marotta Asset Management, everyone should compute their net worth once a year. They also state that, “By age forty-five you should be worth at least five and a half times your annual spending. Between 40 and 60 you should increase your net worth by half your annual take home pay every year.” What does this exactly mean for the net worth of an average 40-something?

Your income is expanding in your 40s, as well as your debt. This is at least typical in America today. There is also less time to recover from financial mistakes. The median income for 40-something households, nearly $58,000, is about 20% higher than for 30-something households, according to the Federal Reserve’s latest Survey of Consumer Finances.

Smart Ways to Cut Costs and Realize Savings Each Month

Whether you are single or married with children you are likely in need of additional money-saving tips. The most obvious is to have a disciplined mindset.

More specifically you will want to apply one or more of these principles:

Make your own gourmet meals instead of going out. This is perfect for a couple who wants to indulge in a romantic evening but does not make enough money to invest in a night out on a town. Your favorite food, a reasonably-priced bottle of wine, and an old music collection to play in the background may be ideal.

Repair or alter damaged/outdated clothing. If you or someone near you is handy with needle and thread you can very quickly make easy repairs. Furthermore, if you know anything at all about sewing you can alter outdated items to keep up with today's fashion.

Find less-expensive ways to entertain your family. It can be hard to always invest in fun for your whole family if you have one. Days at the local beach, trail walking, or window shopping are often fun activities. If you go to fairs you may want to pack a picnic lunch if permissible. It will save you from spending all your hard-earned cash on over-priced fairground food.

Make wise purchases on video games, audio devices, and appliances. For instance, you will want to purchase items that can be repair or replaced for cheap rates. Do not waste your money investing in items you know will be outdated. For instance, many places are now selling video cams for cheap because the new HD will be coming out the following year.

Order water instead of soda with your meal. This can save you $7.00 a week if you eat out at least once a day. This is often the case with persons employed in business-related and financial-related fields. Ironically enough, even people knowledgeable about wise investment need this advice too.

Prepare "convenience" foods ahead of time. You can prepare and store your own on-the-go foods for lower prices than you would if you buy single-serving foods in the store. This is great advice whether you are single or not.

For singles: Share an apartment. There is no shame if you are a legal adult and making it on your own to want to save money sharing a place with someone. Do not ever let anyone think of you as less of a person if you are paying all your own expenses.

Besides, if you are truly independent living with someone is not going to change that. You are still likely to take care of yourself and be responsible. It would be less lonely for you to live with someone as a single person anyway.

Consider alternative housing situations. You can even find whole communities of people who live on the same plot of land and share resources and expenses. Each situation is set up differently so you will be able to find one that is most suitable for you.

Cut down on unhealthy, costly habits. Just think of all the gadgets, trips, and essentials you could by if you were not spending an average of 40 to 100 dollars per month on alcohol, cigarettes, and other substances. It is even recommended that you cut down on soda, coffee, and other caffeinated beverages.

Purchase in bulk. If you must have a vice or two, such as soda or beer, it is often cheaper to purchase it in bulk. All types of foods can be purchased this way. The cost up front is much more but you will not need to shop for awhile.

Capitalize on unused items. If you own items or find items that are no longer used by you or someone else sell them. Someone out there is bound to buy them even if you think they are absolutely useless.Â

This list of creative money-saving tips should get you started. There are more bits of advice where this came from!

Eight Ways to Save Money on Gas without Going in Debt

Do you find yourself using your credit card just to gas up? Bad idea. With sky-high gas prices, it can be difficult to gas up without going into debt these days. Here are eight ways to save money on gas without going into debt.

Tip # 1: Shop around for your gas

Maybe you are not used to shopping around for your gas. In the good old days of $2.00 gallons, you could afford to stop at the first gas station you came across in order to fill up. Not anymore. Now it is possible to feel the difference simply by filling up at a station offering its gas for a few cents less per gallon than the competition across the street. Make sure to shop around for gas before filling up. In most cities you can find gas stations selling gas for ten to fifteen cents less per gallon than their competitors. Use web sites such as Gas Buddy in order to find the cheapest gas in your area.

Tip # 2: Buy gas from your grocery store

One of the trends we have been seeing in recent years is grocery stores offering discount gas to customers. Many stores are now offering these types of savings discounts. Usually you will need to sign up for a store savings card, and some stores offer deeper discounts after you have spent a certain amount on groceries. Some stores are known for offering deep discounts during special promotional periods, so keep your ears and eyes open.

Tip # 3: Ride your bike for work and simple errands

So you haven’t ridden a bike since you were twelve, you say. It’s time to practice your skills and remember why riding a bike was so much fun in the first place. With more people on bikes than ever before, you will probably not be alone in commuting to work on your bike. Plus, you get the added bonus of getting in shape. Get a good basket put on your bike and use it for small shopping errands around your neighborhood. Even if you only ride your bike a few times a week, the savings on gas will quickly add up.

Tip # 4: Start your own rideshare

Even if you have never commuted before, it’s probably time to start. Commuting is a low-stress and money-saving way to save money on gas. There are many web sites that now help connect people who need to save money on their daily commute. You would be surprised how many people in your neighborhood probably drive to roughly the same area.

Tip # 5: Move closer to work

If you are used to a long commute, it’s probably costing you an arm and a leg just to make it to work. If you rent an apartment or even if you own your own home, it may be the right time to consider making a move. If you love your job and are willing to make the move, this can save you considerably on transportation costs. Sit down and do the math if you are not convinced, and think about how much time and stress you will save by working close to home.

Tip # 6: Invest in a bus pass

Even if you have never ridden the bus before, maybe it’s time to start. Many cities offer discounted bus passes for commuters. You would probably be surprised how easy, efficient and relaxing it can be to sit back and let another person do the driving for you.

Tip # 7: Always fill up with cash

Many gas stations are now offering discounts for cash purchases. Not only is cash a cheaper way to buy gas, it can also help you stay out of debt. The last thing you want is to spend five years paying for a gallon of gas, but that’s what interest rates will do to you.

Tip # 8: Telecommute

If possible, look into the option of telecommuting. Even telecommuting once or twice a week from home can save you a lot of money on gas.

Shiny New is Overrated Buy Used to Save Money

Money saving is never easy. Most American’s simply don’t do it. Yet, saving money is crucial sometimes. It’s a lot better than using credit. How often do you see a commercial that says, “Save up for six months and buy this new couch set!” America wants instant gratification. Unfortunately, that can cause us to get into debt that we can’t climb out of. Instead of debt, try saving. Let’s say your short term goal is to buy a boat-you have a few options. One option is to borrow the money from a lender. Another option is to charge it on a credit card, and the final option is to save for a few months and buy it with your own money. All three ways will give you that boat. Some of those options are not the wisest. If you use a lender and are late with one payment, they can put on a 99% interest. If you use a credit card, you have interest and more debt. If you save, you’re fine. But, how do you save?

Here are some very practical ideas. First of all, don’t go out to eat. If you do, get water and share a dish with someone. If you calculated the amount of money you spend on dining out in one month-you will most likely be surprised. Save that money, your short term goal is worth it. Another way to save is to cut out some extra spending. Instead of going to see a movie, rent one and stay home with some popcorn. Instead of buying an entire CD, buy the track and save that money. Another way to save some money is to buy bulk. This is especially effective for large families.

Sometimes it’s hard to save up by cutting things out of your life. This is understandable, not everyone can afford to go out to eat as much as others. Not everyone can afford nights out at the movies. In this situation, take your checks and put ten percent away in a savings account right away. Do this for as long as you need. Just act like you are literally making ten percent less until you reach your short term goal. These are just a few ways you can save for short term goals. Some will say that if you need extra help financially, there are trained professionals just a call away for advice. Remember that debt is never a wise choice to make if at all possible, because of interest and other things.

When doing your research, consider the following: Look into these programs: door-to-door, fee-per-ride, ride-share, carpools, and private shuttle services. Some services require advanced notice or reservations. Use services that are no or low cost to seniors.

Use pay as you go or monthly coupons. Use public or private transportation (taxi, mini-bus or van, bus, rail).

If you’d like to keep your vehicle, it might be a great idea to fill in the gaps for when ride services are not available. You might find that you can have greater control over the cost of fuel by maintaining your own vehicle and using ride services.

If you decide to keep your vehicle, be sure to look into lower discounted insurance rates for mature individuals. Also, if you find that you are moving slower when walking, ask your medical professional about assisting you with obtaining a handicap sticker, tag or license plate for your vehicle. Here’s a suggestion, even if you decide to get a handicap license plate, also ask for a handicap tag. That way you can display it when traveling in a vehicle driven by someone else. Check with your local Area Agency on Aging (AAA) for information specific to your area.

Simple Ideas to Buck the Economic Downturn and Flourish

Whether you are looking to save money on home expenses or looking for a new career change to support you and/or your family this information will benefit you. There is no need to worry about the future of the economy if you are innovative and creative enough.

If your main concern is to cover your childcare expenses and cost of living you can keep in mind the following tips:

You can purchase those much-coveted brand name clothes that your teens just "got to have" at discount stores, department stores, and outlet malls. You can also find those items online.

Stores such as Wal-mart often sell notebooks for only cents on the dollar at the beginning of the school year. During this time is the best time to stock up for the year.

You can find quality exchanged media for a reduced price. Therefore, if your child needs any computer equipment or media devices for school projects look at these stores first.

Online auction sellers often provide school supplies, clothing, holiday gifts, birthday presents, and more for a reduced rate. Many of these items are like new.

Certain dollar stores and grocery stores sell brands of food that are just as high of quality. The only difference is they do not spend huge amounts of money on advertising. Therefore, you can shop here for a majority of your family groceries.

You can cut down on traveling expenses by working at home. You would also cut down on traveling expenses and food purchased on the job if you work at home.

If you are in need of a new idea for bettering your overall financial situation in order to prepare for the future read the following:

If you own a business already try to find more personal ways to advertising. By far word of mouth and on one networking is most effective. It is a proven fact that people prefer to do business with people they have met or talked to.Â

Find an effective way to provide the same quality products or services as other companies-for less. You will soon have so many clients you will not know what to do with them all if you sell yourself for a more affordable price. Likewise, if you product high-quality items such as household goods, craft items, and gifts for less you will also become very popular very quickly.

Use the Internet for calling. You can even call other peoples' computers for free with certain messenger services. Furthermore, you can arrange video and voice chat sessions with clients.Â

You can do what you love to do at home instead of the office. These positions are highly-coveted but more rewarding. More of these types of positions are likely to become available.

Find a way to market your favorite hobbies and skills. Perhaps you can make extra money filling an office niche by offering discount services to other small business. This is a great time to get started, especially if you are out of a job and on unemployment. You can start a business using the computer and the Internet for next to nothing.Â

Work on learning new skills. This knowledge and experience can be obtained one or more of the following ways: formal accredited online and offline schooling, certifiable training, free video and web tutorials, and library research.

In fact, it is ideal if you can find a field of interest in which you already have a fair amount of experience working in. For instance, if you have already been producing graphics for people you may want to advance in that field.

Nine Nifty Ways to Earn an Extra $100 Bucks a Month

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.

Get a small 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.

Sell 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.

Turn 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.

Find 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.

Start 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, there’s 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.

There are some more expensive apartments. 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.

Water Saving Strategies to Keep your Pocketbook Padded

If you live in a place where water is plentiful, you may possibly take this resource for granted. However, you can save money on living expenses if you consider the water-saving tips mentioned in this article.

For instance, one of the most often used ways to save money by using less water is taking shorter showers. Filling the bathwater only have way is another water-saving and money-saving practice.

Aside from that, you may also consider one or more of the following additional water-saving (and ultimately money-saving) tips:

Wash full loads of laundry. It is also recommended that you give your hot-water heater a rest by setting your washer to rinse with cold water. In fact, certain types of clothing are light enough to be washed with cold water.

Run a full dishwasher and rinse just-used dishes. Chances are you use a dishwasher to help save time. If so, it is recommended that you wait until it is full before you run it. Along with that, you can reduce the chance of having to re-wash used dishes when you rinse them off as soon as you are done eating. Otherwise, cleaning your plates, cups, silverware, and other items the old-fashioned way is an alternative.

Keep water refrigerated to drink. If you drink tap or filtered tap water it is advised that you fill up containers of this thirst-quenching liquid and store it in a cool place. If so, you save on the amount of time it takes to run the water until it reaches a drinkable temperature. You can also use ice. Use re-usable ice packs on picnics and in drinks. One way to conserve on water and to save money is to purchase ice packs and reusable "ice cubes." For drinks. They are just as effective in keeping food and drinks cold as ice.

Hand-water gardens. As long as you do not have a huge garden, hand-watering your plants may be feasible. You use less water if you just replenish the immediate plant area using a water container versus when you use a sprinkling system.

Use automatic sprinklers. If you have a large lawn or garden, sprinklers set to spray at certain times of the day (usually at night) would be ideal. Besides, if they are sent infrequently enough they can even scare away potential night time prowlers-an extra bonus besides saving water.

Use hand sanitizer, wipes, or other quick cleansing materials. These are usually used on the go. However, if you want to cut down on the amount of water you use to wash your hands these items are handy, especially the hand sanitizer because it does not leave any waste behind.Â

Compose instead of flush. Sometimes people flush old food down the toilet. However, if you start a compose for your garden you can conserve on the amount of water it takes to use toilet water. The sample applies to using a garbage disposal.

Remember to switch water off. If you are a forgetful person you may want to invest in items such as automatic sink faucets. Either that or set alarms or specific intervals of times in which you check to make sure water is shut off.

Use rain water. Sometimes you can capitalize on nature's shower to clean your car. When you see that it is soon going to rain, or if it is raining already, perhaps you can take some soap and a bucket outside. Rainwater can be collected for a variety of other uses as well, such as for watering houseplants, and so on.

Free tips on water conservation are probably available through your local utility companies. Environmental organizations also can provide free assistance in this area.

Seven Painless Pointers for Lowering Bills and Living Below your Means

Living below your means and sticking to a budget does not have to be painful. Many reformed shopaholics and over spenders who adopt a more frugal lifestyle like to spread the gospel of living below your means. Why do so many people who adopt frugal habits speak so highly of this lifestyle? There are several reasons. First, living below your means keeps you out of debt. Living below your means allows you more freedom in many parts of your life. Living below your means also lowers your stress. And living below your means keeps things simple. Here are seven painless pointers for lowering your bills and adopting a lifestyle that allows you to live below your means.

Learn how to cook and brown bag your own lunch

This is a very simple way to keep your bills low. You can save money without even feeling like you’re saving money and even adopt a healthier lifestyle. If you enjoy eating out, you probably don’t even notice how much you spend on this expensive habit. This doesn’t mean that you have to give it up entirely. If you go out to eat several times a week, take it down to one or two times a week. Learning the pleasures of preparing your own meals can introduce you to a whole new world and save you lots of money in the process.

Keep your car for as long as possible

Buying a new car is one of those major purchases that can keep you drained of savings for years. Instead of buying a new car, or leasing, every few years, keep your car for as long as you can and watch the savings add up. Keep your car in good working order by taking it for regular maintenance and driving as lightly as possible. Become attached to your car, take good care of it and hopefully you will give yourself many years of trouble-free driving without having to make those hefty new car payments.

Reconsider your living situation

Are you paying a large rental bill for a two-room apartment and you live alone? Are you paying too much on your mortgage balance each month? If you are serious about lowering your bills, it’s time to sit down and reconsider your living situation. Maybe you can live just as comfortable in a somewhat smaller, and less expensive, apartment. Maybe you can lower your monthly mortgage payment significantly by refinancing your home. Whatever your situation looks like, sit down and see how much you’re paying per month on living expenses. Chances are, there are ways to lower this expense significantly.

Always buy the generic brand

Most people who buy name brand household products do so out of habit. These days, you can find high quality products for much less than the name brand simply by buying generic. You would be surprised how much you can save on staples such as detergent, disposable diapers, canned food and more. Expect a savings of approximately 30% simply by switching to the generic brand.

Get rid of your land line if you’re not using it

Do you still have a land line that rarely gets used? Do you live by your cell phone? These days, with increased cell phone stability and advanced technology, most people use their cell phone for most of their communication needs. If this sounds like you, perhaps it’s time to cut that land line service and save on your monthly telephone bill.

Shop secondhand whenever possible

New clothes, furniture and electronics are nice, but they are usually marked up pretty high. Watch the prices plunge as you step into your local secondhand store or thrift shop. You can buy high quality clothes, furniture, books and music at your local secondhand shop at a deep discount.

Pay yourself first

This long-held adage still rings true today. Most people in debt are anxious about saving, but it’s time to deposit a little into your own private savings stash every month. Make an emergency cushion for yourself by having ten percent of your paycheck automatically deposited into savings account each month. But if you are in deep debt, pay this down first.

Saving Money in the Long Run �" Get the Right Home Insurance

It is an exciting time becoming a new homeowner. However on top of new ‘wonders’ like interest rates, mortgage payments, and a family possibly, there is homeowners insurance to think about. Although many feel that it is just a wash, and should acquire normal homeowner insurance, there are other factors to account for when deciding on what type of plan to purchase.

A basic homeowners’ insurance policy will cover four main bases. First would be coverage for the structure of the home, this takes care of the home in case it needs rebuilding [such as if a fire were to burn down the house], covering the disasters listed within the policy. Generally there will not be coverage for flood, earthquake routine wear and tear, as there are other separate plans to cover those. Of course, it is important to plan accordingly, if you feel that there a chance of hail, or fire damage, then make sure to put forth enough money to rebuild in case of such an event. A second function of standard homeowner insurance is the coverage of belongings within the home. This also includes protection against stolen items, such as jewelry, which should be appraised and insured for its proper value if it is expensive.

The third and fourth functions of homeowners’ insurance deal with liability coverage and additional living expenses [away form home]. Liability coverage works to pay court fees and advances for defending the homeowner’s family [or pets] against damage done to another’s property or body. Generally a plan will cover up to $100,000, yet with so many cases now exceeding that, if one can afford it, it is a good idea to insure liability higher, as a number exceeding that barrier can completely cripple a family. The fourth clause will cover expenses for homeowners when they are out of the home, due to a covered disaster. Basic needs are covered [restaurant bills, hotel rooms, living expenses], and depending on the policy can range from 15% to unlimited, for a period of time which the house is not inhabitable.

Now that the overview of insurance is through, it is important to decide if other insurance is needed. It should be a no-brainer. If one can afford it and lives in an area such as the pacific coast, that other insurance is needed. Flood / Hurricane, and earthquake damage can be devastating, yet in most areas of the country, is not a threat. For young homeowners who may be tight on the budget, it may be a good idea to only dabble in these areas if it is a high-risk area in which the house is located.

There really is a lot of work in being a young homeowner, however as with most issues, proper knowledge can go a long way in a successful ownership. Insurance is definitely an issue that should not be made a snap decision, remember not every case is the same, make sure not to fall into a general trap, get a plan that is tailored to the house.

For most, analyzing ones bank account is never a fun task. The ones who have a lot of money really have no need to do so, and for the rest, well it is just a reminder that we either need to put away more money or we have a long way to go before settling down.

Being in that middle age it can be especially scary to look down at the bottom line. However with that, a plan of action should be made.

Too often in decision making a rational head is not effectively used to see the best possible path. In this case, money often drives people to unnecessary or drastic measures.

Stay Financially Fit with these Grocery Shopping Tips

If you are a food lover (and who isn’t?) it can be tough not to buy every appetizing thing in sight at your local grocery store emporium. Even the most disciplined buyer can lose their financial cool at the grocery store. It can be very easy to surpass your weekly grocery budget with a single trip to your local supermarket. If you think you are spending too much on your grocery budget, here are some tips for staying financially fit.

Clip those coupons—and use them

Although they may not be sexy or cutting edge, coupons are still a great way to save on your grocery bill. Take advantage of those circulars and clip coupons on food and home items that you already use. Coupons are often used as a promotional tool to entice you to try new items. If you can get a good deal on an item you’ve never bought before, that’s great. But try to restrict yourself to items that already hold a space on your shopping list. You should also beware that many times coupons can help you save on name brand items only. Is the same item available as the generic store brand? Sometimes you can save more on your grocery bill by buying the store brand item rather than buying the name brand item with the coupon discount. Make sure you do a stringent price comparison before buying the name brand item.

Store brand items are usually just as good

Speaking of store brand items, did you know that they are almost always just as good as the name brand item? Store brands are held to the same quality standards as most of the other items on the shelves of your grocery store. Buying the store brand is an easy and effortless way to save money on a regular basis.

Shop at your local farmer’s market

Shopping at your local farmer’s market can be a great way to shop for fresh fruit and produce. Shopping at a farmer’s market is usually a great way to save money on fresh local produce, especially if you are lucky enough to live in an area with an abundance of farms, orchards and agriculture. Shopping at your local farmer’s market is also eco-friendly because the food travelled less distance to get to you, thus saving on fuel. This can be a wonderful opportunity to get to know your local growers.

To save money, buy in bulk

Buying in bulk can be a great way to stay financially fit and save money. If you have the space and money to buy in bulk, this can be a great way to save money on your grocery bill and save time as well. Be sure you are buying things you truly need and will use. It can be tempting to buy a four-pack of kitchen napkins if you see them on sale, but if you know that you probably don’t need that many napkins and don’t have the storage space, it’s probably better to opt for your usual buy. Of course, there are certain products that all of us can stock up on safely. Toilet paper, laundry detergent, soap and other essentials are safe bets when it comes to buying in bulk. Make sure that you don’t buy anything that will go bad within two weeks.

Consider a co-op membership or your wholesale big box store

If you have a local co-op store or wholesale store in your area, you may want to consider buying a membership. A co-op membership means that you have access to a wide variety of natural products and local organic produce. When you pay your member fees, you are effectively buying into the co-op and becoming partial owner.

Many Easy Ways to Save Money and Lighten your Debt Load

Credit cards were not a common buying method for our parents and earlier generations. Yet, since the early 1990s, credit card debt has increased significantly. Even people as old as 80-plus are suffering from the risk of potential bankruptcy and other losses due to their lack of advice or knowledge on how to manage their credit cards more efficiently.

Often people over 50 do not own a computer or are unable to navigate the Internet to locate valuable information. Even if you don’t own a computer, you may be able to use a computer at your local library. Contact your local community college and inquire about its adult education program for seniors. Ask about classes on Internet navigation and computer literacy skills.

Set-up fees are made when a new credit card is purchased. This fee is for all the work that goes into setting up your card.

Credit limit increase fees are paid for increasing the amount of credit that’s on your card. So if you had a card for $2,000, and you ask for $1,000 more, you’ll be charged a credit limit increase fee to get more money on your card.

Cash advance fees are used for setting up a cash advance. It could be a percentage of the cash advance, or just a flat fee.

Other fees include things such as customer service and looking into your account. Some credit card companies even charge you fees for using your card over the phone.

Interest rates for credit cards are fees you pay in addition to paying back the money you originally spent on the credit card. The card collects interest over time, and you pay this back inside your other payments. Really the only way to avoid or lower interest rates would be to pay your monthly bill, in full, on time each month.

There are usually three ways that credit card interest rates are calculated. The first is known as the previous balance method, the next is the average daily balance method, and the last is known as the adjusted balance method.

The first method (previous balance) is calculated by the finance charge based on the amount of last month’s payments.

The second method (average daily balance) is calculated by the daily balance on every day of your pay period, subtracting received (made) payments, divided by the number of days in your pay period. If you make your payment earlier, this method of calculating interest rates will not be as high.

The final method is the adjusted balance method. This payment is determined by subtracting all the payments you made during your current payment from the last balance you paid on your last pay period.

Credit card interest rates can be determined by several other factors. For starters, the more your card is worth, that is, the more money that’s on your card, the higher your interest rate is likely to be. Also, the amount of time you keep your card and the amount of time it takes to pay your monthly balance can have a role in your interest rate as well. Annual fees on credit cards can also determine how high your interest rate will be. Other random fees can influence the amount of your interest rates, too.

Some credit card companies have no interest rate, but most of them do. If a credit card company has no interest rate, this usually means that your other fees, such as annual fees and late payment fees will be higher, so the company is pretty much making up for the money they would have lost with no interest rate in the first place.Â

Saving Big Time with these Unadvertised Secret Deals

Saving and investing are two areas America needs to know about, but rarely reads up on. It can cost you in money, in years before retirement, even happiness or your possessions. Of course, when it comes to investing to a goal that’s immediate, there are a few key things I can suggest to you. First of all, remember to consider your immediate goal and how immediate it really is. Remember that debt also means it will cost you more in the long run, with interest. It’s also very hard to pay off debt before retirement, and even harder during retirement. This goal has to be worth what you’re spending.

Secondly it’s important to remember that investment means you expect something back from what you’re investing in. Of course with investment, there is also risk. Never risk more than you can afford to lose! I have to repeat that, because it’s vital: never risk more than you can afford to lose. Let’s use the analogy of gambling. Gambling is an extremely risky investment, you could score big and get extreme profit, or you could walk out with empty pockets. Some men gamble away their children’s college funds and can’t pay their own bills. Though this is an extreme case, it exhorts the amount of caution needed.

Okay, you’ve made your choice: now what? First of all, don’t let your bills slide to make an investment. If the investment flops, so does your bill money. Many would say if this is a case of closer certainty, use your normal saving money. Either way, there are people who went to school and trained and have much experience in these very issues. Consult one of them before you invest in any goal. They are available to give you the confidence or warning you may need to take the plunge and advice on how to not go broke doing so. Making investments can be important to your future, if your investments go well that’s a nice, healthy retirement!

Paying taxes can be stressful and annoying. A lot of things also change when you’re considering retirement or in retirement. Retirement is something America is still trying to figure our correctly. When social security started, it was to help us out of the depression and was a temporary fix. Later in our history, that was changed. It didn’t turn out to help us much-- the average social security check is $838.00, which is not enough to support most people’s cost of living after retirement. All of that said and done, how do you pay taxes on retirement account withdrawals, penalty-free?

According to SmartMoney.com, “You probably know that taking withdrawals from a tax-deferred retirement account before age 59 1/2 generally results in a 10% penalty. The penalty applies to payouts from traditional IRAs, simplified employee pensions, or SEPs, and qualified retirement arrangements such as pension plans, profit-sharing plans, stock bonus plans, 401(k) plans, Keogh plans and the like. So we are talking insult added to injury here. While I certainly discourage raiding a tax-deferred retirement account before actually reaching retirement age, it sometimes can't be helped. In these situations, a key objective is to dodge that darned 10% penalty whenever possible.

Confusingly enough, the list of exceptions for IRAs and SEPs isn't identical to the list for qualified retirement plan accounts. One exception available for all types of accounts is taking annuity-like withdrawals over your life expectancy. You can use this calculator to figure the amount of penalty-free annuity-like withdrawals that you can take from a particular tax-deferred account. The annuity-like withdrawals must be taken at least annually.” Because that may be confusing, most experts would suggest you consider talking to a trained professional, someone with skills and experience in these areas. Make sure you trust this professional, as slip ups in these areas could really cost you.

Seven Smart Tips for Living Below your Means Comfortably

Investment is important for anyone taking in an income. Investing in something long-term is also pretty important for someone who is looking out for retirement and their future. Here are basic tips to making that easier.

Sell the Losers, Let the winners Ride! It may be hard to let it go, but sometimes it needs to be done. And the winners flourish when they go a long way, so keep it going rode. Think about the future. Don’t chase all of the “hot tips.” They are often hot for a moment and cold for another. Do your own research and you’ll know better.

Don’t sweat the small stuff! Your psychology is important to investment. Your mind is your money. Don’t over emphasize the P/E ratio. This is a classic mistake and can lead to more mistakes. Avoid this one! Resist the lure of penny stocks. I know it can be hard, but they can often lead to uselessness or even worse. Resist!

Stick with the strategy you pick! I know it can be hard. But if you stick with it, it will pay off. Just keep trucking and don’t get pulled away.

Focus on the future. That’s right, its patience. The future is coming, I promise. Just hold off. The longer you wait and more focused you are, the better things will be. Adopt a long-term perspective. It’s not too hard to do, considering you’re doing number seven on this list. Keep it real and remember how much time you’ve got. Long-term is the key to success. Stay focused.

Select companies with an open mind. It may sound self explanatory, but like investopedia.com says, “Many great companies are household names, but many good investments are not household names (and vice versa). Thousands of smaller companies have the potential to turn into the large blue chips of tomorrow. In fact, historically, small-caps have had greater returns than large-caps: over the decades from 1926-2001, small-cap stocks in the U.S. returned an average of 12.27% while the S&P 500 returned 10.53%. “

Don’t put taxes up too high in importance. Yes they’re important, but that as important as some think. Taxes…yum, don’t you love them? Who doesn’t? In all honesty, American’s hate taxes. Since the beginning of taxation, people have hated it. It is necessary for national defense and other things, though. But still…is there a way to beat it? According to smh.com, “Assuming they are eventually passed by the Senate, lower tax rates and the abolition of the superannuation surcharge will change the rules for many taxpayers. Some strategies need to be put in place now to make the most of the new rules; in other cases it may be better to wait until after June 30. But if you want to save on tax, you can't afford to ignore the looming end-of-year deadline.” What about inflation? It seems like it’s impossible to win in a situation where you cannot have control. There are certain things you can do, though. You can always talk to your tax guy, and if you don’t have one, you can call a certified CPA f or advice. There’s always something you can do, just keep looking.

For more information on any of those things, go to the web and look for advice. It is also important to understand inflation and exactly what it is. Inflation can sometimes be tricky. Then you can understand how it affects you and how to beat it. “The fact of the matter is whether you like/understand it or not, the danger posed by inflation is real and present and as an investor you have to take steps to safeguard your interests. In other words, you need to bring a fresh perspective to your investments,” says rediff.com. They have four main pieces of advice on how to beat inflation. For more information visit their website. These are some great ways. Again, for more information go ahead to the website. There’s more information out there to be found as well. For even more help, call a CPA. They are the trained experts in money!

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Baby Bargains for the Budget Conscious

Having a child is a wonderful experience; however people often become pinched for cash when spending money on different baby products. Baby products can be expensive and ad up over time, but luckily, there are ways to cut corners and save money on different items that you have to by for your child. Follow the steps below and begin saving money on your baby products.

Nurse your child. If you are physically capable of nursing your baby, you should do this instead of buying formula. Purchasing formula for your child adds up over time so eliminating this product will save you money.

Find a WIC program. There are several Women Infant and Children programs throughout the country which work to help women who are living on low incomes. Find one of these programs in your area to see how they can help you save money with different products.

Use cloth diapers. Although many people don’t seem to like this idea, it is really an easy way to save money on baby products. Instead of spending money on diapers, you can save money by washing cloth diapers and reusing them.

Use coupons. Check the Sunday paper, the packaging of products or call the manufacturers directly for coupons. The money you save on individual items adds up over time.

Use store brand products. Instead of buying expensive brand name products, use the generic store brands as a substitute. These products are usually always the same quality, but for half the price.

Additionally, besides following the above mentioned ideas, remember that if you have to buy formula for your baby, choose the powder formula instead of the pre-made formula. It is the same quality and cheaper in price.

Remember that if you are trying to cut costs on medication by using a cheaper substitute, you should contact your physician to make sure that the medication you want to switch to is a healthy and effective substitute for your baby.

Right about now is the correct time to plan for retirement. Assuming there is a steady career in place, and possibly a home with a family, the target age for most individuals is around fifty-five. Yet in today’s society the average age of retirement continues to be pushed back, currently the average age stands at sixty-one and a half years of age. Now that may not seem like much, but considering the average life expectancy is about eighty-three years, losing six and a half years is approximately one third of the remaining years.

Now there are many reasons for this push back in retirement. Among them are more money towards a college fund, a weakening economy, and general fears of living out the final years in poverty.

Of the aforementioned, the only one that can be deemed reasonable is the weakening economy. When looking at a bank account in middle age, there really is no reason to worry too much about other people. The children will eventually be earning their own money, and hey if there is a need for some side cash in retirement would it not be better to retire seven years earlier and work part time for a few years? These questions should be looked at on a per case basis, but really it is not the time to put away the dreams that have been made for the sake of others, or the sake of fear.

Now is the time to make a plan for the future. There is no excuse for being taken off guard by the issues involved in retirement, really with a proper plan the retirement can be met earlier than the average, and while losing six years may not sound like much now, when there is only eighteen left to live, it will.

Manage your Money with These Simple Solutions

You keep saying to yourself that you want to save, but are sick and tired of living the way you are---broke. In order to stop living from paycheck to paycheck one of the following simple solutions to your money management problems may help you:

Make a list of all your monthly expenses, and know exactly 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 more gainful employment. Then the next step is to allocate money for all of the priority expenses first and also save yourself a reasonable amount of "fun" money.

Never go grocery shopping hungry. Generally you will spend about 10 to 20% less at grocery stores if you are not famished and craving every exotic food in site. 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.

Try not to use credit cards. If you can get away with it, 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.

Set aside an 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.)

Keep track of spending. Make sure you check your bank account before you pull out more money to go shopping. 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.

Plant your money in an investment account. Above and beyond the amount that you save per month it is recommended that you plan for your future by investing in some way. It could be starting a business so you can have a more enriching career, placing your money in an IRA, or trying your luck in stock market trading.

Analyze any risk before you take it. This point usually pertains to investment. It could also apply to major purchases that you make as well, such as when you plan to buy a house, car, or other long-lasting item. Remember that you will need to be at least somewhat confident given your current financial status that you can continue to make payments.

Avoid taking out payday loans or obtaining other easy credit. 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.

An additional tip is to remember that just because you are offered credit does not mean you should take it. Work to break the cycle of debt and not fall deeper into the hole. 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.