Personal Finance

Prioritize Spending Based On Overall Happiness

2010-05-05T05:10:00.000-07:00

Except for the really rich, we all need to watch our spending. Money management is a very simple concept; spend less than we earn! Easy to say, but difficult to do especially at various stages of our lives.

When we are young we are like a growing business, we need to invest in homes, our families and other things for getting established. This makes it almost impossible to spend less than we earn, so it is necessary to use debt to build our lives. It is also necessary to establish priorities for what we buy with cash or debt.

If we prepare a budget early on it will help us get control of our necessities very quickly. If we are honest we discover that it doesn't take a lot of income to just survive. Then we need to focus on making enough money to pay for them and have some money left over, or a profit as a business would call it. Our profit should be invested in a backup fund and other things we need to build our lives and live free. This is a very over-simplified financial model but it is a very fundamental one.

Prioritizing our expenditures that are not necessities is where we often get into trouble. Over spending results in high credit card balances that are difficult to be free of and only makes it more difficult for us to invest in the things we really want, such as a house and improved living standards.

So, how do we establish priorities on how we use our discretionary cash? There are many resources for guiding us in making these decisions, but I have another way to look at it. We should prioritize our discretionary spending on what will make us happy!

My definition of happiness it to have inner peace, an other's centered purpose, and to make a living that gives us freedom. If we have credit cards that are over extended we will worry and have stress that inhibits our inner peace. If we focus too much on just ourselves, we will only see tons of things we want for self fulfillment. We may also fall in to envying others for what they have and seek to get those things for ourselves. We can become greedy, even if we are not wealthy. We often fall into a "pity party" when we get to self centered and believe we are "victims" as we are not paid enough, and don't have as much money as we deserve. This will only take us down and destroy our inner peace.

If we learn to be thankful for what we have and understand how much others don't have, our attitude can change. We can even consider using some of our discretionary money to help others.

So our spending priorities should be based on a higher level, that of having real happiness; inner peace, purpose and freedom that comes from controlling our debt. Some would call this avoiding instant gratification, I call it seeking total happiness.

With each expenditure we make we should ask ourselves the simple question, will this really make us happy?

Rob Severson, Author, Speaker and Financing Coach.
I help businesses get new financing to pay off unhappy banks or for rapid growth. I have been in the financial business over 40 years and have a wide breadth of experience in business issues. I have successfully coached 100's of business to get new financing. I know how to put a deal together.
I also wrote a book "Connectiing Peace, Purpose & Prosperity" that is a memoir written for my family showing them how I learned to live a life that is happy, joyous and free including making a living. It is a short interesting peek into an "average guy's" life and what he tells his heirs. I also do speaking gigs on the subject for churches, schools, AA groups and others http://www.robseverson.com

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Personal finance class

2009-10-22T06:54:00.001-07:00

NPR's Tobia Smith reports on a popular personal finance class at Wellesley College. But why wait until college? When it comes to the fundamentals of personal finance every California schoolchild is being left behind. A decade ago I worked for a group of state securities regulators in Washington, D.C. that promoted financial literacy and personal finance classes in high school. One soundbite I crafted for our president: "We teach phys ed, sex ed and drivers ed, why not financial ed?" A question to be asked. The answer? Maybe that's the way some want it, to keep us stupid about money. Ignorant consumers, after all, don't read fine print, they don't ask questions, they don't comparison shop, they don't see through advertisements.

Welcome to the New Financial Realities: New Rules for a New Economy

2009-10-22T06:53:00.000-07:00

If there is one thing that the financial crisis has taught us, it's that we can no longer afford to think about our personal finances as we did in the bubbly pre-recession days. In today's economy there are new financial realities that every consumer must understand.

Over the next few weeks Eleanor Blayney, CFP®, Consumer Advocate for Certified Financial Planner Board of Standards, Inc. (CFP Board), will help steer consumers through the shifting economic landscape, by outlining the new rules for the new economy, in a series of nine videos, which can be found at http://www.cfp.net/learn/advocate.asp

"In this uncertain economic climate, we must all -- as consumers, investors, and citizens -- become better informed, so that we can take control of our financial futures," said Kevin R. Keller, CEO of CFP Board. "As a seasoned CFP® practitioner, Eleanor understands that consumers need strategies for addressing the new and rapidly-changing financial realities."

Blayney said, "Our recent economic downturn has shown us that we must re-examine some basic assumptions about the ways we manage our finances. What made sense pre-recession no longer works today. In these videos, I offer consumers nine personal finance strategies to help them plan for what's ahead."

1. Put your own financial interests first, and work with an advisor you can trust

2. Use a multi-prong approach; investing by itself will not get you where you want to be. Spending, saving, and budgeting all play equal parts in building wealth

3. Think of yourself as an asset; investing in yourself can yield returns far greater than other investments

4. Learn the difference between good debt and bad debt

5. Get smart about the pros and cons of home ownership

6. Know it's no longer about retirement; it's about reinventing yourself for the last third of your life

7. Get your kids involved in family financial planning. Now is the time to talk to your kids about finances

8. Do not sacrifice your financial well-being for your children

9. Become financially literate. Commit to learning all that you can.

"As you consider your personal finances and prepare and respond to the new economic situation, remember you are not alone. CFP Board and the nearly 60,000 financial professionals who hold the CFP® marks stand ready to help you on your journey to a healthy financial future," said Blayney. "I wish you the best on your journey to a secure future."

Follow Eleanor on Twitter: http://twitter.com/EleanorBlayney

The Process of One Hour Payday Loans

2009-08-10T06:46:00.004-07:00

It can be a scary feeling having bills looming on the immediate horizon that you do not have the resources to pay for. Bills that are going to result in the termination of some type of service, your water or electricity for example. Many times people are fortunate enough to be able to borrow money from family or friends. But in those instances when no other type of assistance is available it is comforting to know that a quick cash advance can be easily obtained. The solution comes in the form of a one hour payday loan. These loans have become so readily available that anyone who fits just a few basic requirements can qualify for quick cash. If you are 18 years of age and have held the same job for the last six months then you could be well on your way to a one hour payday loan.

You can still find walk-in establishments that will help you out but these days most people simply go online to find sources for payday loans, there are many. An internet search will quickly turn up dozens of lenders willing to help you out of a financial jam and the application process is a breeze. You will need to have your banking information ready as they will need to know where to direct deposit the funds. Be certain that all the information such as account numbers, routing numbers, social security numbers, etc. are valid. Lenders have the means to verify this information and will reject your application if the information is erroneous. Lenders prefer to serve those employed outside the home and not self employed because of the fluctuation of assets that comes with self employment. The lender needs to know for certain that the money is going to be available when you repay date rolls around.

As soon as you complete your application and submit it online the lender will need to verify that you earn about $1200-$1500 a month. One hour payday loan companies also try and refrain from doing business with applicants who are in the military and people who's income consists of receiving benefits. You will also be turned away if you have ever defaulted on a previous payday loan or you have a current loan out with another company. The approval process takes just minutes from the time that you submit your application. Once approved the funds are wire transferred directly into your account and are available for immediate withdrawal. When your loan comes due, generally no more than a month and usually just two weeks later, the lending institution simply withdraws the amount of the loan, plus interest and fees, back out of your account. It's that easy. So don't let the thought of overdue bills worry you, with a one hour payday loan literally at your fingertips you can borrow anywhere from $100-$1000 and avoid shut offs and reconnection fees and maybe in the process prevent another glitch on your credit history along the way.

Jennifer Meinert is an established author who enjoys writing and reviewing many topics including payday one hour and cash advance payday loans. Please visit her site at http://www.cashadvanceresults.com

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How Do Payday Loan Advances Really Work?

2009-08-10T06:46:00.003-07:00

Are you interested in receiving a payday loan advance? Are you not quite sure how these loans work and what the process is to get one? Well, they are very simple loans-in terms of the application process and the financing and repayment of them. These loans are based on what your regular paycheck amount is and then repaid in full on your next payday.

Many lenders do not pull a credit history to approve someone for a payday loan. This is because repayment is guaranteed-it comes directly from your next paycheck. If you are worried about your credit history being used to determine your eligibility for a payday loan advance, read through the lenders policies and guidelines first before applying.

Once filling out and submitting your online application, the approval process usually only takes a few minutes, if that long. Many online lenders are able to tell you right away if you are approved or not. If you do not get an immediate response, then further verification from you may be needed. Once you are pre-approved you may be requested to provide some sort of supporting documentation verifying your employment and income (such as faxing paycheck stubs to company). Other companies do not require this and will do the whole loan without you having to fax anything. After the company verifies your identity, your employment, and your income, then you usually receive a direct deposit of the loan proceeds into the bank account that you provided to the lender. This usually happens in 24 hours or less.

Do be careful when choosing your online lender. Due to the short duration of these loans, the interest rate and any applicable fees may be high. Do some research to find a lender with a reasonable rate. Also make sure that you do not borrow the money for a longer period of time than necessary. Doing so will cause you to pay back more money in interest than needed.

Jessie Bowers is an expert financial analyst and has been offering her valuable advice about legit payday loan lenders for quite sometime now. Please visit her website for more information on payday cash advance.

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If You Need to Handle Cash-Flow Problems Payday Loan Advance

2009-08-10T06:46:00.001-07:00

It happens more than some may think; another week or more until payday and an unexpected expense comes up. It may be a utility bill (or worse, a shut off notice) or maybe an emergency car repair. Whatever it is, money is needed fast. With a payday loan advance, you can get that money, whenever you need it. A payday loan advance is a short term loan for which you need no collateral and you need not fax any documentation. There is a simple online application to be filled out. As long as the applicant is over 18, employed and has a current checking account, the loan is normally approved and the money deposited into the applicant's bank account within hours.

Interest rates and fees vary, even among paycheck advance loan institutions, so you will want to check the terms and conditions carefully. Some places charge 30% on their loans while most only charge 20%. The loans are for a period of time between 2-4 weeks but most commonly 2 weeks. This gives the borrower enough time to pay the emergency expense and also get their next paycheck. It is quite literally like getting a loan on your next payday. Try to plan carefully so that when the loan is repaid, there is still money to live off of.

Life's little emergencies happen to everyone. Payday doesn't always come when it is needed. For times when extra cash is needed and payday is far off, think payday loan advance. The money is there for you,, whatever you need it for. Even if you want to take a weekend getaway, you can use a payday loan advance to do it. There are no questions asked. It's nice to know that no matter how far away payday is, there is money available here and now with a payday loan advance.

Jessie Bowers is an expert financial analyst and has been offering her valuable advice about safe legitimate payday loans for quite sometime now. Please visit her website for more information on advance payday loans.

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Fast and Easy Payday Loan Advance

2009-08-10T06:45:00.001-07:00

Now, you can get a cash advance by submitting an online application. It never has been easier to get the cash you are in urgent need for. Within a minute's time, you can already be approved for a payday loan advance and the money will be in your bank account by the next business day. If you are facing a dire emergency, these types of loans are here to assist you in your time of need.

Cash Advance or Payday Loans

There are many terms associated with payday loans, such as check loan, post-dated loan, or cash advance. No matter what you call it, they are the same type of loan. They are short-term in nature and you can borrow the same amount of money, which is from $100 to $1,000, depending on your lender.

The purpose of payday loan advances is to assist during financial emergencies that may occur when you least expect it. Instead of paying fees on late payments or bounced checks, you now have the option to secure a cash advance against your next pay check. You will save money if you choose to get a loan as an alternative to paying all of the fees you may be charged if you don't pay your bills on time. When your next payday arrives or in thirty days, you can repay the loan. If you choose to extend the loan, additional fees will apply.

Simple Application Process

You can currently get a payday loan advance by simply applying online from your home or anywhere else that has internet access. When you choose an appropriate lender's website, just enter your personal contact information and history of employment. The only requirements are that you have include that you must be an adult and have had the same job for three months. Your application will be reviewed within five minutes, and you will receive a notice (probably through e-mail) if you have been approved for the amount you asked to borrow.

Get a Cash Advance Quick

On the application, you provide your checking account routing number. Once approved, the lender will automatically deposit your funds in your bank account by the next business day. That is very quick service!

Hassle-Free Repayment Plan

You can also repay your loan through their online service. You will usually get the option of choosing from the following repayment plans when your loan is due: 1.) You can elect to pay only the finance charges, 2.) You can pay the entire loan off, or 3.) You can pay only a portion of the loan. If you extend your loan, you will also have the option of changing your re-payment plan to suit your current needs; however, this is entitled to more fees added to your existing loan sum.

Convenient Customer Service

There are many methods of contact the lender's customer service department if an issue arises. Generally, you can call or e-mail the lender. However, now there are even more ways of getting in touch with your lender. Now, your lender will answer your pressing questions by fax or an instant messaging service. The websites will also include relevant information to help answer your questions, such as their interest rate charges, re-payment plans, and frequently asked questions/answers.

Jessie Bowers is an expert financial analyst and has been offering her valuable advice about legit payday loans for quite sometime now. Please visit her website for more information on online cash loans.

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How Teaching the Kids to Go Green Can Equal Saving, Cost-Cutting, and More Money For Your Family

2009-06-10T22:54:00.000-07:00

Families everywhere are feeling this economy crisis. From smaller household budgets to less money for the little extras that kids enjoy, many are feeling the financial pinch of it all. While the world is experiencing this economy crisis, we are also an even bigger issue... a big need for greater environmental awareness and action. For families that want to make a difference for our world and still would like to save a few dollars to help their overall family budgets, we would like to present some basics for making that happen for you and your kids.

Teaching your children to help the planet by following a few basic steps could give your family just the financial push that it needs to get through this economy crisis. Some of these are really simple to do and others may take a little coordinating, but the final results of your labor, including saving, cost-cutting, and plumping up that family bank account will all seem worth it in the end. Here are a few do's and don'ts to help your family get started:

Do have the kids use rechargeable batteries or solar powered chargers for handheld games and small electronics. Your family could see an instant saving. Costs for replacing batteries can be astronomical when you sum up all of the batteries that you need to supply energy to the gobs of gadgets that your kids probably have. If there is not a USB charger available, which allows you to charge stuff directly from the computer, then find and use alternative energy sources such as rechargeable batteries and solar powered chargers. Regular batteries wreak havoc on the environment. So, using an alternative energy source saves the world and it saves you lots of money from not having to continuously buy batteries.

Do teach the kids to conserve water, especially during this economy crisis. Your children could save your family a mint just by minimizing their water consumption. Set a time limit for showers and encourage children to turn the water off while they are brushing their teeth. These little changes could have a huge impact on your family's water bill and could also help with our environment.

Do teach children to be creative with their water usage. Tell them to place 2 small cups or bowls in the shower when they are using it to catch the excess water. This water can then be used to water plants! They could also catch rainwater and use that for watering plants at a later time also. Either way, your family could experience a saving. Cost conscious people can really appreciate doing anything that could significantly reduce their water bills.

Do teach the kids to enjoy and take full advantage of sunlight. Tell them to turn off the lights when they are not using a room and to open the blinds or curtains to let the sunlight in. Sunlight is a free energy and light source. Learning to use and appreciate it now could make a difference as your child gets older in the way that they view energy. This economy crisis is making it important for all of us to take a different approach with certain things in our lives. The energy that your family saves by not running the electric lights all day could result in a much lower energy bill, which means more money left over in your family's household budget! Plus, less energy consumption is very important for our environment.

Do teach them to research and use frugal recipes that take advantage of locally grown produce and products that you can buy for cheap. Just about every area has a farmer's market. These markets are havens for saving money. From cheap produce to low price dairy, most families will see an amazing opportunity to save at this markets, over the regular retail prices. Plus, by making an effort to buy for cheap the local produce and products, you are helping to reduce emissions from planes and foods that have to travel to your area! A lot of that fresh produce is also organic which means that the farmers do not use harmful chemicals on the food.

Your children can learn to understand the importance of going green and will follow your lead on environmental issues. Teaching them to work to save our planet and to help your family by doing things to conserve to save money are life lessons that they will need in years to come. Teach them now and, once the world is through this economy crisis, they will know how to do their part to help to reduce environmental risks. With your guidance, they will know how to care for their family while maintaining a financially and "environmentally" sound budget!

Alexandra Vrugt, a recognized expert on saving money in daily life, has written many articles on how to manage on less. You can get free copy of her Ebook '15 Top Ways To Save Money' by visiting her website MakeEndsMeetOnlne.com.

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Financial Advisor Experience - 7 Questions You Must Ask!

2009-06-10T22:53:00.000-07:00

A critical key to successfully selecting your financial advisor is know what questions to ask. The painful truth is most consumers of financial and investment planning services don't ask some of the most basic questions when finding, interviewing, and choosing the right financial advisor for their specific needs and financial goals. Rather they tend to be wooed by flashy signs on imposing buildings, fancy decor, ultra-slick TV ads and impressive titles. Choosing the wrong financial advisor however can lead to financially disastrous consequences for you and your financial security - and those flashy signs, smooth marketing campaigns, and embellished sounding titles are the least of what you as a consumer should be concerned with.

The problem stems from the Wall Street machine and their monstrous marketing budgets. Wall Street firms label their salespeople "Financial Consultant" or "Vice President of Investments" (I know, I had both titles at points in my career) - remarkable job titles to say the least, and most certainly comforting in nature to the consumer. They piece together emotionally provocative marketing campaigns with catchy slogans and striking logos. They advertise their spectacular investment products and financial planning services on TV, on the radio, and in the most popular trade magazines.

The sordid truth is the Wall Street machine engages in this "financial pornography" to wow and woo you, to impress you, and to give you comfort in the quality of their advice and value of their investment products before you even walk in the door. In reality, the flashy signs and chic titles mean nothing.

Checking your financial advisors background, credentials, philosophy, compensation and experience in the financial services industry can quickly weed out the "less professional" financial advisors - and effectively simplify your decision making process in finding the right financial advisor.

One of the most important "qualifiers" of a professional financial advisor is their level of experience in serving client's financial needs and helping them accomplishing their goals. Notice I didn't say "length of experience in the business". Length of financial services industry experience may mean little if anything, because a financial advisor may have 20 years of experience which may include years of nothing remotely related to serving clients financial needs.

There are plenty of financial industry jobs which may give the impression of real-life "in the trenches" client services experience, but in reality these jobs aren't much more than administrative, managerial, or sales in nature. To choose the right financial advisor, focus on asking the right questions, and expect thorough answers:
# How long have you been working directly with clients as their primary financial advisor?

# How long have you been recommending investment and insurance products?

# How long have you been actively and consistently creating financial plans for clients to help them achieve their financial goals?

# What is your training background, and where did you learn how to diagnose, manage, and solve your clients financial problems?

# How many years did you spend training for your position as a financial advisor?

# What firms have you worked for in the capacity of a financial advisor?

# How many written financial plans have you created for clients?

Those seven questions will garner the majority of information you'll need to make an informed decision on your financial advisor's experience level. But just what should their answers entail? In terms of acceptable financial advisor experience, I would argue the following:

A minimum 3 years of experience. Anything less is a threat to your financial future you can't afford to take. Financial advisor's can intern (or act as a para-planner) with more experienced financial professionals working with clients directly, and should do so for at least three years before taking on the primary role as your financial advisor. Given the volatility and uncertainty of current times, it's easy to make a case for 10 years or more of practical, real-world experience. You wouldn't lay on the operating table for open heart surgery knowing your doctor graduated from medical school yesterday would you?

A college degree. This is a new requirement for NAPFA (the National Association of Personal Financial Advisors, NAPFA.org) registered financial advisors. While a college degree isn't the "be-all end-all", it shows dedication to training and increasing your knowledge early in life - a trait which commonly caries over throughout your career.

A CERTIFIED FINANCIAL PLANNER™ (CFP®) or Chartered Financial Consultant® (ChFC®) designation. Both credentials show substantial dedication to being among the best in the financial services field. Both credentials are difficult to achieve and require ongoing continuing education to maintain. Both credentials illustrate the experience and training so vital to your financial success.

20 written financial plans. Many "financial advisors" don't do written financial plans (but many "financial advisors" are that only in title, and are actually salespeople in practice). Regardless of whether you need a written financial plan or not (not every client needs a written financial plan), your financial advisor should understand how to create one and have reasonable experience in doing so. You may not need that open heart surgery, but don't you want your cardiologist to have the experience requisite to making a wise decision when you have chest pain?

Experience is but one primary component of excellence in financial advice and superior client service. There are many other facets of a financial advisory practice that are important. In the end however, don't you feel more confident you'll be able to reach your financial goals knowing that this isn't your financial advisor's "first rodeo"?

Take the time, ask questions when you interview a financial advisor. Require and expect thorough and reasonable answers. Doing so will help you achieve confidence that you've found an experienced financial advisor able to deliver excellence in financial advice!

Greg Phelps is a CERTIFIED FINANCIAL PLANNER (TM) and Fee-Only Independent Financial Advisor in Las Vegas and Henderson, Nevada. With 14 years of financial industry experience, Greg is an accomplished financial advisor, author, and speaker. Through his employment with two of the largest investment banking firms on Wall Street - Morgan Stanley and Goldman Sachs, as well as serving as the Regional Manager of Wealth Management at the 5th largest accounting firm in the country - RSM McGladrey, he's consistently and ambitiously improved his skill and knowledge in the financial planning field. In addition to creating a Home Mortgage Loan utility for use by financial advisors with their clients, he strives to deliver exceptional financial planning advice and guidance in all areas relevant to his client, with a specialty focus in retirement financial planning.

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Save Money on Entertainment Tips For Avoiding Foreclosure

2009-05-27T02:44:00.000-07:00

When the thought of facing foreclosure and possibility of losing your house runs through you mind, you probably are trying to come up with ways to avoid foreclosure, which means one thing: having the money to pay the mortgage bill. Every little penny matters and can help make the payments. If the possibility of foreclosure is on you mind, this is the time you want to learn the art of frugality.

To add to the list today you will be learning about how to save money on entertainment. If you learn the tips within in the article series you should be able to save thousands of dollars a years. If you are doing this; then you will help yourself avoid foreclosure not only this year, but for years to come. Just because you are trying to save money doesn't mean you have to lock yourself inside and never do anything -- what fun would that be and how long would it last?

Free concerts. Many towns and cities have free concerts you can go to in the summer; check out a local newspaper. It will usually have a list of free ones in the leisure section. It is fun and you get to be around other people, listening to good music.

Save on movies. Instead of going to a movies sign up for online movie sites and watch several movies a month for the same prices you spend at the theater. Plus you can eat popcorn and home and save yourself another 10 dollars and get twice as much.

Learn the happenings at your local library. A library is a good place to go when saving money. Here you can check out movies, CDs and books for free. Also they will sometimes have free events and book readings you can attend.

Take advantage of Tuesdays. Tuesdays are usually a slow day for businesses in general: restaurants offer food specials, museums are usually free and people want your business this day. So keep your eyes open for specials this day.

Board games. Purchases a few board games and having friends over for a game night is a good way to socialize and not spend much money. It can lead to hours of laughs and is better then hanging out at some noisy bar.

Take up running for your sport. Running is a free way to exercise and you get to see parts of your town you may not have been aware of before going out for a run. Instead of joining an expensive gym, do push ups and sit-ups at home, then go for a run. This right here can save you several hundred dollars a year.

So put some of these options into action and see how much money you end up saving a month. You would be surprised to find out how much it is. I know several people that go through half their paycheck in a week; if they learn to spend wisely they would have money in their savings account. You never know when you could loose your job or are in a financial hardship and it will be there for you to pay your mortgage.

LJ Adama writes articles on financial advice and foreclosure help. To get better ideas on how to stop foreclosure Or to learn about loan modification and foreclosure prevention methods please visit http://www.foreclosurefish.com/

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Start Organising Your Savings Online

2009-04-14T00:34:00.001-07:00

One of the main benefits of online banking is the flexibility that comes with it; you have access to your accounts 24 hours a day, 365 days a year from absolutely anywhere where internet connection is possible.

Having access to your savings with such speed and convenience means you can avoid queuing at your local branch or spending too much time with telephone banking. Most major banks in the UK now offer online banking to customers, with many choosing to carry out their banking via the World Wide Web.

Many transactions can be carried out online, from simply checking your balance to making payments. As you can instantly view transactions and statements online, it becomes much easier to control your savings when compared to the traditional monthly paper statement. It is also very easy to move money between accounts, so if you chose to set up both an online current account and savings account, you could transfer funds between the two with just a few clicks of the button.

Due to the savings that banks can generate from carrying out transactions online, preferential interest rates are becoming available for e-bankers, which is particularly good news for savers. The higher the interest rate you can secure for your savings the better; opting to bank online can help you in doing so.

Preferential rates and benefits aside, the different types of savings account available online are similar to those offered on the high street. Most savings accounts pay interest on an annual basis; however you should also look out for savings accounts that offer introductory rates or bonuses as this can be an easy way to secure even better terms. Therefore, spend a little time researching the different types of account and make sure you pick the best one for your requirements.

But if you're worried you might not be able to stick to your savings plan then why not set up a standing order? That way, your savings account is topped up every month without fail. In fact, it might be possible to arrange this online, especially if you already have a current and/or savings account with the same provider.

Making the Most Out of Your Savings

2009-04-14T00:33:00.002-07:00

For many partners or married couples saving is a fundamental part of living as they look to get themselves on the property ladder, save up for a new car or go on a dream holiday. A number of banks and building societies offer a good range of savings products that with the right investment can give the investor a great return and additional source of income.

As well as selecting the right savings product to maximise savings income, partners or married couples should take full advantage of tax allowances. Tax allowances enable every person to have income earning assets up to a certain value that are income tax free. The figure is currently around £5,000 and by spreading out assets couples can ensure that either no tax or as little as possible tax will be claimed from their savings income.

For example, a man with £10,000 invested can avoid paying income tax on his assets by having half of the money invested in his spouses name so that the investment does not apply for income tax. Another great way to maximise potential income from savings is to go for a product with the least payment dates. Savings products usually give an option of having interest paid monthly, quarterly or annually with the highest interest rate being offered for the product with the lowest payment dates. So for any saver who can afford to live without their saving income for a whole year, this can be a great way to earn extra from their savings.

Setting Aside Your Money For When You Need it Most

2009-04-14T00:33:00.001-07:00

According to new research, many people are now relying on their savings accounts as a place to keep their extra money safe. Indeed, households are choosing to put away their extra money instead of spending it - a sign that many see the current economic downturn as a cue to save, rather than spend, their money.

A surge in attempts to save more money has led the cash value of savings of households in the UK to rise to £11.7 billion in the last quarter of 2008. The rise comes as consumers choose to change their former spending habits. In the same quarter, the sales of food and drink fell by the largest percentage in five years. Instead of spending lots of money on holidays, restaurants and electronics, many are choosing to put that money away in order to let it grow without spending it on non-essential goods.

Experts have noted that many are choosing to save because they are expecting to see a drop in their household income. Though the interest rates surrounding mortgages has decreased in recent times, this has not led many households to increase their spending on other goods.

In the final quarter of 2008, Britons alone saved £7.6bn of their incomes in savings accounts. It has also been noted that the proportion of what is saved in accounts across the nation has grown radically, and is at its highest since 2006. In addition, each household is now saving an extra £3 per month compared to what was being saved a year ago. As people borrow less money and reign in their spending, savings accounts are surfacing as a reliable option for people to save the money they might need for later.

What's more, it has been noted that the number of people choosing to save money hasn't risen, but those who do choose to save are putting away more each month. In addition to saving money, household spending also fell by close to 1 per cent, as families continue to cut down on unnecessary costs. Many experts are cheering the move, as it implies that families dealing with debt are beginning to tighten their spending habits in order to pay it off.

How to Survive the Depression

2009-04-14T00:32:00.000-07:00

Many people today are asking how to survive the depression. Although, only a recession has been officially declared, some believe a full blown depression is looming and they want to be fully prepared.

The best way to survive the depression is by keeping a hold of your job if at all possible. One of the worst signs of a depression is high and chronic unemployment. Many companies may be considering making redundancies in response to the depression. Try your best not be among those that are axed. A high level of conscientiousness at work is advisable. If you are one of the employees with the highest productivity, your employer will be less inclined to put your name at the top of the layoff list.

During a depression there is usually less money to spend and goods and services become more expensive. You can survive the depression by being much more frugal with your expenditure. Cut down on household bills by making use of low energy alternatives in lighting, for example. You can cook many meals in one go and store in the freezer. Try to make calls only during off peak hours and make the most of free talk time offers. Look after your clothes properly so that less needs to be spent on your wardrobe. You can also try shopping in bulk at the supermarket to make use of cost saving multi-buys.

You can survive the depression without having to forgo on leisure and entertainment. You may just need to make some adjustments in this area of your life. A depression is a good time to spend time together with friends. Instead of going to the cinema, why not all gather around someone's home to watch a DVD? Substitutes to expensive restaurants can be cook-offs at home. Take it in turns to host a meal. You can also use this as a game similar to those on reality TV shows where points are awarded for the best meal.

You can survive the depression by applying equal amounts of careful planning, expenditure reduction and creativity.

Three Opportunities During a Recession

2009-04-14T00:31:00.000-07:00

Of course there are opportunities during a recession, including those listed below. In fact, many "lucky people" will prosper in these tough economic times. If you want to be one of them, you have to start to think like them.

To begin with, you might want to turn off the stream of bad news on the television. You get the picture, and there isn't actually that much "usable" information that you can get from these sources. Believe me, you'll hear about any really "big" news anyhow.

Once you have stopped feeding yourself a diet of negativity, start developing new habits and perspectives. See problems as opportunities, for example. See every setback as a valuable lesson (and many of them will be more valuable and less expensive than the ones you got in college). Start choosing to be in the right places at the right times.

With the habits and thinking patterns of a lucky person, you'll find ways to make the coming years some of your best. Here are some examples of the opportunities that are out there in the midst of this recession.

1. Buy Stocks On Sale!

If you have been hesitating for years to invest in stocks, hoping for a "half price" sale, this may be your chance. I won't try to guess where the market is headed next, but it sure has to be better to invest when it is lower than back when it was at record highs.

2. Pay Less For Your Home

If you don't yet own a home, you'll be happy to know that they cost less now. In fact, even if you own one, the drop in prices offers the opportunity to get your property taxes and possibly your insurance lowered. Record low interest rates (this is being written in early 2009) mean you might be able to refinance and pay less each month on your mortgage loan.

Many people are only seeing the negative in the real estate slump. Those who create their own luck look to see how there may be opportunity in these problems. Paying less for a loan, insurance and taxes means paying less for a home - regardless of where the current value may be. Incidentally, you might make back everything you lost in home value if you buy a few rental homes while they are cheap, and interest rates are low.

3. Learn Valuable Lessons

The idea of learning lessons the "hard way" is not too inspiring, but why not? Many people have come back from bankruptcy to become wealthy. Others have lost jobs only to discover what they really want to do with their lives. The hard times come in any case, so why not make them into turning points on the path to a better life?

Money management is extremely important to your financial well being

2009-04-13T19:38:00.000-07:00

10 Basic Rules For Money Management

Money management is important to your financial well being. Here are 10 basic rules to help you get your finances into shape.

1. Plan your finances. Plan for your families future, any major purchases you require to make & for the periodic expenses that come up ever so often such as birthdays & holidays.

2. Make long term & short term financial goals. This includes everyone in the relatives. Helping children learn the benefit of setting financial goals will help them in the future. By learning to manage money, your children will be better in their own financial situations.

3. Know your financial situation. You should know what your monthly & periodic expenses are each month. You should know what your monthly income is & keep track of your amount of debt.

5. Trying going without your credit cards & learn to live on your income only. Even try paying over the minimum payment amount on your credit card balances.

4. Develop a budget & stick to it. Do a planning budget & then compare it to your actual budget to see what you have actually spent. Learning to stay within your planning budget will help you develop better financial situations.

6. Save money for a rainy day. Put away some money each month. Literally pay yourself a small amount each month so that you are putting away some money for various things. By trying to put away 5% to 10% of your money each month, you will have a reserve fund that will help with most emergencies. Having a reserve fund of 6 months to 1 years worth of living expenses will help you keep from ever having a complete financial breakdown.

7. Keep up on your bills. By paying your bills on time & in full, you will begin to build a good credit history. good credit becomes such a necessary thing these days & by protecting yourself you will keep your expenses such as interest rates & fees down. This will help your financial situation greatly. If for any reason you are unable to pay a bill on time, contact your creditor & work out an arrangement. Do Credit Repair on any inaccurate information on your Credit Report.

8. Know the difference between your needs & your wants. You must make your needs a priority & get those things on your require list when everything on your needs list has been met. Getting things on your require list is great but without taking care of your needs first, you are generating problems to your financial situation.

9. Control your credit. Don't let your credit control you. If you use your credit wisely, you can make good use of your credit & help your credit score. Your credit payments should never exceed over 20% of your net income. By knowing that figure than you can use your credit wisely to help you purchase things that you can not pay for to begin with. Automobiles & Homes are generally things that you should put into those categories, but you can even use it for recreational items such as Vacations, hobbies & other activities. never ever use your credit to pay for another credit item. For example, never use six credit card to make a payment on another credit card. you are paying interest one times & just throwing money away.

These suggestions are meant to help you determine where you can generate opportunities for a better financial situation for you & your relatives. By following this advice you will find yourself in a stronger financial situation & teach your children how to better handle their finances.

10. Know your daily expenditures. If you are aware of where your money is going, then you can control where you money goes for the future. A spending diary will help you keep track of that information. one times you know where they money is going better control can be made where necessary. You may not realize that you're spending $20 a day on a sandwich & coffee because you feel that you're spending a couple bucks here & a couple of bucks there. But they add up & seeing the total each day of where your money is being spent will often open up your eyes to where money can be saved.

Dont Mistake on your Financial Planning

2009-04-13T19:34:00.000-07:00

When it comes to our personal life plus money, they all have make mistakes. &, surely there are more mistakes to be made. But here are some mistakes that you must become aware of plus begin avoiding if you're to generate the tomorrow you need.

A life without purpose is a languid, drifting thing; every day they ought to review our purpose, saying to ourselves: This day let me make a sound beginning, for what they have hitherto done is naught! - Thomas A. Kempis

Then look at all your insurance needs, life, health, disability, home plus auto plus make sure you've the protection you require. plus if you've query, be sure to get a profession who understands insurance plus can answer you questions.

Procrastinating. It's so much easier not to deal with serious issues like death plus retirement. Unfortunately, they're a part of life. So start today thinking about how your death will affect those you love plus if the effect is not what you wish then change it to what you'd like. Look of how you will be affected by your retirement plus if you don't like the result change them!

Spending more than you earn. If you require to be Stress Free plus enjoy your life, you've to spend less than you earn. If you continue to live above your means, you'll always be in debt plus you'll always be stressed about the fact that you're in debt. Debt make us all slaves so don't let that be you. So set up a budget plus begin sticking to it.

Not saving . they hear it all the time, Bahamian do not save plus most of us have less than $1,000.00 in our bank. That's not going to get us too far, since for retirement most of us will require anywhere from 85 to 100 percent of the annual income they were earning on the last day they worked. So start saving a portion of every paycheck you get. The worst thing that can happen is, you'll end up with too much money at a time in your life when you'll have the time to enjoy it.

Overusing your credit cards. If you can afford to pay off your credit card in full at the end of the month, no matter how much you charge, then use that card as much as you like. Unfortunately, most of us can't afford to do that. plus so, month after month, they continue to pay the maximum payment plus so doing outrageous sums of interest. If you're in debt up to your ears (other than mortgage debt), you'll seldom get ahead financially. So pay off all your debt as quickly as possible.

Looking for the big kill by buying "numbers". Yes, it's possible you can win plus collect more than money to live in style. But if I were you I wouldn't count on it. Look at how lots of persons around you that you know have been playing "numbers" for most of their lives plus still haven gotten that big pay day. The only persons winning are the owners of the number houses. If they had only saved plus invest their money, I am sure that their returns now would far outweigh their winnings. So keep your money for you!

So look at yourself today plus begin to understand those things that have created your current circumstance plus decide to change your tomorrow by not making the same mistakes. Remembering that "Regret for the things they did can be tempered by time; it is regret for the things they did not do that is inconsolable."

Don't chase "hot" investments You should not count on picking a winning stock plus put all your eggs in that basket. Look at what has happened with the performance of a number of sure winners. Remember that stock prices will rise plus fall plus that you should be investing for the long-term. What you require to do is find undeveloped land plus and invest in them after you've thoroughly done your home work. While past performance is no guarantee, when it come to land there is not query because land has continue to return better than 25%.

Do Not Allow Your College Plan to Blow Up Your Estate Plan

2009-01-28T09:50:00.003-08:00

Have you ever considered the interrelationship between different types of planning? There is a direct relationship. One aspect of planning affects the other. Here are some examples:

Estate Planning vs. Financial Planning. With estate planning you plan your estate for the benefit of your heirs. But, if your financial plan goes awry (more debt, less income, and/or less savings) it could easily affect your strategy. For example, if your estate plan includes charitable giving as a part of your strategy (if you have a charitable remainder trust, as an example) a decrease in the amount of your available assets could affect the amount you can practically give. In other words, with the recent market turmoil, you might now be "giving beyond your means."

Also, if your financial and investment plan is hugely successful, you may have estate or inheritance tax issues which you might not otherwise have.

College Planning vs. Retirement Planning. As Deborah Fox recently wrote in the January 2009 issue of Financial Planning magazine, "college planning is retirement planning." Every cent plus future never-realized appreciation which you spend on college is taken away from retirement. Thus, if you sink $100,000 into college for your children the future value of that amount in 25 years, even at a modest 4% rate of return, would be well over $260,000. Of course this is highly simplistic, because college funds do not (poof!) appear out of the air, but are saved over a substantial period of time. That means that there is a potential for even more never-realized income.

So, what do you do? Here are just a few suggestions:

Get a financial planner. Many don't do this, but consider getting professional assistance.
Get an estate planner. So many people decide to "save a buck" and do their own estate planning. Often this is with less than desirable results. It's hard to integrate your strategies when there is no strategy.
Integrate saving and borrowing into your college planning. I will admit: There are many disputes on this score between planners on this issue. Many planners find borrowing an anathema, while others embrace it. Consider this, however: Your children (or, potential children) have a much greater number of earnings years than you do as parents.

Also, consider this analogy: the logic behind a city borrowing to pay for a public improvement is that the resurfaced street, for instance, is to be used for many years by many taxpayers and motorists. It would not be fair to saddle the present taxpayer with all of the cost, but to spread it out over time. The same could be said for college borrowing.

I suggest postponing borrowing as long as possible by using savings, but recognize that careful borrowing (especially through the federal student loan program) is a perfectly appropriate way to go.

These are just a few suggestions. However, the first step in moving forward is...taking the first step.

Disclaimer: The information in this article is not legal advice, and the use of it does not create an attorney-client relationship. Any liability that might arise from your use or reliance on this article or any links from this article is expressly disclaimed. This article is not to be acted upon as if it were legal advice, and is subject to change without notice, or may include obsolete or dated information, or information not relevant to your jurisdiction. If you require legal services, you should consult with an attorney.

As a a licensed attorney located in the Los Angeles San Gabriel Valley, Larry Stratton is in a position to coach and advise you, and to help you plan for your future. The Law Offices of Larry D. Stratton specializes in estate planning, business formation and appellate practice. Larry Stratton also blogs on estate and financial planning issues at Planner's Thoughts.

Larry Stratton is a graduate of Whittier College School of Law, which is a member school of the ABA and the AALS. He has represented numerous clients in the California Court of Appeal, and is admitted to practice in all California courts, the Ninth Circuit Court of Appeal, and also the United States Supreme Court. From 1983 to 1984, he was a member of the Whittier Law Review.

Larry Stratton is also a Registered Investment Advisor, and currently speaks on estate and financial planning topics in Southern California.

Article Source: http://EzineArticles.com/?expert=Larry_Stratton

I Found Banks Without Chexsystems! Advice From a Chexsystems Victim

2009-01-28T09:50:00.002-08:00

Finding banks without Chexsystems was NOT an easy journey for me, and in fact it was quite the opposite of that. I was put into to Chexsystems about 2 years ago and little did I know that it would be such a tough road to find another FDIC insured bank that would accept me for a free checking account and give me all the usual benefits like online banking, debit card, checks etc...

What I did find very easily however were plenty of people out there who decided that they were going to make a quick buck off of me...and in some cases...a lot of quick cash off of me. In short I was scammed out of about $320 just from two list providers, and I was put into some VERY embarrassing situations when I took the word of some free list providers and went into a couple of banks on their list to open up a checking account.

Since the entire reason behind why I started my guide for Chexsystems victims in the first place is all based around making sure that you don't have to go through what I went through during my 2 years without a checking account, I want to give you some free tips right here and right now that should keep you out of trouble, your hard earned money safe, and out of a very embarrassing situation at a bank.

Things to look out for when trying to find banks without Chexsystems...

1. Always ask to see proof of some ones claims! - What I mean by this is that many websites and many people out there claim to know the exact troubles that you are going through right now. They also claim that despite their troubles that they were able to find great free checking or second chance checking accounts in their area. If they were able to find banks without Chexsystems...then surely they could cough up some sort of proof of their accomplishments right?

2. Free list sites are sometimes the most horrible way of looking for a new non Chexsystems account. Why do I say this? It's not because I sell my guide, but because I know for a fact that their lists are not only out dated...but so inaccurate that it's not even funny. Notice all those ads on their site? How about those banners to all those online banks? They're looking to get paid on their ad clicks or affiliate programs, and have no interest in actually helping you...simple as that.

3. Don't overpay for a paid list. So many people out there are selling ripped off lists that they just stole from the crappy list sites to begin with, and what's worse is that they're charging out of this world prices for them! I kid you not...5 minutes before I sat down to write this article for you guys, I just came across a brand new site trying to sell a list of banks without Chexsystems with only a couple banks for $99.95! Are you serious? I say get lost!

My fellow Chexsystems victims...please...please...take these tips seriously. They'll keep you out of trouble, your head above water, and will make your search for banks without Chexsystems much quicker, cheaper, and easier. :)

Please don't let Chexsystems or Telecheck get in the way of living a normal and happy life. It doesn't have to be that way; there are many banks that offer checking and or savings accounts regardless of your situation in these systems. I'm still in Chexsystems and have two checking and savings accounts with the works at real FDIC insured banks. Let me help you out of this situation that I was once in too and help you find banks without Chexsystems in your area. http://www.getnonchexsystemschecking.com/

Article Source: http://EzineArticles.com/?expert=Ilya_Feynberg

Banks Without Chex Systems - They CAN Be Found in Your Area! - Advice From a Chex Victim

2009-01-28T09:50:00.001-08:00

According to Wikipedia, some 80 percent of the banks here in the United States do indeed use Chex Systems...not the most pleasant statistic to hear if you're still stuck in Chex Systems like myself and millions of other Americans. But there's something that isn't being closely looked at within that statement....

20% of banks in the states are still banks without Chex Systems!

And that's HUGE!!!

A lot of people out there that are just trying to push their affiliate program or online banking scam will try and tell you otherwise. They'll try and scare you in to thinking that your chances of getting a real checking account with a real FDIC insured bank in your local area is basically impossible. What a huge freakin load of lies!!

I've been stuck in Chex Systems now for about 2 years, and yet I still have two checking accounts with banks just down the street from me that are real and FDIC insured. Did I also mention that my accounts are totally free checking accounts and I have debit cards, checks, online banking...the works?

How can that be? Because thankfully we live in a free market which allows banks and credit unions to choose which systems they want to use, and how they want to conduct their business. This is an important little tidbit here, because this opens up a massive opportunity for you to get a checking account with banks without Chex Systems.

Now that you understand that it's time to actually find those banks, and that's where things get tricky and VERY time consuming to say the least. Do they exist in you area? Of course they do! But you have to know how to find them and where to find them. It's because of that, that the research to find banks that don't use Chex Systems takes so long, and so much effort. Banks also don't like telling you this information right up front, so it sometimes takes a little bit of asking.

So to wrap it up here...can you really indeed find banks without Chex Systems? You bet ya! And I'm proof of that!

Please don't let Chex Systems or Telecheck get in the way of living a normal and happy life. It doesn't have to be that way; there are many banks that offer checking and or savings accounts regardless of your situation in these systems. I'm still in Chex Systems and have two checking and savings accounts with the works at real FDIC insured banks. Let me help you out of this situation that I was once in too and help you find banks without Chex Systems in your area! http://www.getnonchexsystemschecking.com/

Article Source: http://EzineArticles.com/?expert=Ilya_Feynberg

Children's Savings Accounts

2009-01-28T09:50:00.000-08:00

Although the world has moved on since the days of the old-fashioned piggy-bank, it seems that it is harder than ever to encourage children to save on a regular basis or even to get across the message that saving is a sensible thing to do. As the child grows up, hands-on experience of running their own finances will have proved a very valuable lesson and taught them that one of the ways of keeping up with ever-increasing costs is to maintain a healthy savings account.

Fortunately, there are now very many alternatives to the simple piggy-bank, which teach young children not only the discipline of saving, but the rewards that careful management of their money can bring. There are savings accounts specifically designed with children in mind, yet which echo and reflect the principal kinds of account to be found in the adult world. In other words, there are easy or instant access accounts, notice accounts, and fixed term accounts or bonds.

Perhaps not surprisingly, the most popular and common type of account for children is the easy access account, where money saved can nevertheless be instantly available for withdrawal, without attracting any penalty. As with adult savers' accounts, a higher rate of interest will be available on accounts that require a given period of notice before making a withdrawal, unless some form of penalty is incurred. The third main type of account - the fixed term or bond account - generally offers the highest rate of interest, but the money invested has to be left in the account for an agreed number of years in order to achieve the maximum gains. The agreed term of such savings bonds could be anything from one to five years, or will sometimes run the whole period until the child has reached a certain age.

No minimum age

There is no minimum age for opening a children's savings account - indeed, it has not been unknown for enterprising branches of banks and building societies to scan the births columns of the local press and send congratulatory messages to the proud new parents - together for an application form for opening a savings account for the new arrival. Reasonably enough, most account providers will expect a parent or guardian to open and operate the account until the child has reached the age of around seven-eleven years of age. Most children's savings accounts will stay open until the child reaches the age of 18, when unless anything otherwise is agreed, the account will be converted to an ordinary adult savings account.

Most banks and building societies recognise the importance of teaching children to save regularly and, as an incentive, will often offer a gift, posters, vouchers or "savers' club" membership. Whilst the gift might be useful in encouraging the child to save, it is clearly more important to take a dispassionate look at the savings account on offer and consider what rate of interest is being offered on your child's savings.

So, when choosing an account for your child, remember:

it is important to start children off on the right path to savings when they are young
with over 150 children's savings accounts to choose from, there's no shortage of options
when choosing between, instant access, notice and fixed term bonds, the critical deciding factor will be whether easy access to the savings needs to be maintained
"free" gifts or vouchers from the bank or building society will be appreciated by the child, but make sure that the savings account offers a rate of interest that is all it is cracked up to be.

Examine your savings at http://www.confused.com/savings

Article Source: http://EzineArticles.com/?expert=David_John_Martin

Earn Money Easily by Using Your Head

2008-12-16T09:06:00.003-08:00

I'm not suggesting that people earn money easily by becoming models and charging high fees for head shots. When I say you can make money by using your head, I'm implying that the method helping people make a lot of money is all about thinking and little else. Certainly you've thought a lot about money, but have you considered the depths of that or the implications of your thoughts? Probably not and why would you? Most people don't and have no idea that they should.

For those that know thoughts, ideas and spirituality have everything to do with how you can earn money easily; the idea that others are unaware is mind-boggling. To make a complex theory easy, lets simply agree we all have subconscious ideas, thoughts, beliefs and alike. Now that we've agreed upon that, let's further agree that these entities affect our lives. Of course they do, that is simple logic. This is the classic descriptors we give friends and others we know: "she's pessimistic; optimistic; negative; positive, etc).

So, taking it a step further and applying it to finances is the next logical, and very wise, step. Folks like Brad Yates have developed programs based on this theory, which is no new and is gaining popularity and coverage. As time goes on and people become more aware, the correlation between spiritual, emotional, psychological and financial wellness becomes more pronounced. It's changing the way people learn, do business and, most importantly: live.

If you really want to earn money easily then you need to make things simple. Taking care of yourself, starting with you, is the best investment and course of action. Anyone who tells you otherwise has stake in your decision somehow, so think for yourself, about what I've said and then learn how to change those thoughts to make you money. Good luck.

Utilizing Frugality to Combat Financial Fragility

2008-12-16T09:06:00.001-08:00

If you'd categorize your financial life as fragile to the point where it could be placed into a shipping box and sent directly to your front doorstep with the bold red-font text "Fragile" stamped on it then what you need is some serious fixing up. Particularly, and as far as healing goes, you require some reconsideration and reassessment (for stability's sake) of your financial practices and paralleled ways of living on a day to day, accumulated and even yearly basis.

Of the first steps that need to be taken here include a simple first move you can do yourself; simply enough, you just need to ask how you came to such a fragile financial state. By doing this you can narrow down the cause or causes to your current and weakened monetary position. And once you've narrowed down a particular cause or two, you can then start the planning and scheming tactics it will take to improve and strengthen your finances.

Just Look At The Times

Just by giving a quick glance around the modern world one thing stands out - money is everywhere. It fuels everyday living and maintains functionality to industry and production brackets of business. And it also provides breadth for us. This said, it also, undeniably causes struggle. As such, it has paved way for latent stress and hassle. And, if one isn't prepared to cope with this reality in the modern world it's more than likely for them to slip into a less than perfect financial way of living and doing.

Yet, this can be avoided. Completely bypassing the cluster that so many modern money spenders find themselves stuck in is, in fact, possible. "How," you ask? All it takes is the adoption of a few money saving tips.

Gaining Cash Flow By Being Frugal

Being cautious or efficient with your income may prove to be difficult. But, in order for you to become stronger and more financially adept, with more free-flowing cash, you must attempt to live a frugal lifestyle. And the best way to do this is through initiating a budget. Through budgeting, you know that you'll be getting your time and moneys worth. And no joke - budgeting does literally pay off.

Just by examining your monthly expenses and ascertaining your financial priorities you can better understand how to be financially frugal and understand when to save and spend appropriately. Categorize expenses to ones that are essential and ones that are nonessential.

Rearrange Your Monetary Spending Structure

More or less, the aim is to spend less than you're accustomed to. You do this through many ways. For instance, take the example of gas costs. If you can avoid driving to and from work by yourself everyday and having to front the costs, why not opt to carpool? Also, consider living in moderation, especially involving your usual spending ways. Live smarter and prioritize what you spend your money on, whether it be daily, weekly or monthly. Cut back on everyday treats such as franchise-named coffees; make your own brew at home each day. Even by doing this from day to day you'll save a substantial amount of money, enough to help build your financial strength back up.

Understand Characteristics of Registered Retirement Saving Plan

2008-12-16T09:05:00.001-08:00

As we mentioned in other articles the government only represents about 30% of our retirement income, the company retirement pension plan offers another 30 % and many of us do not have one. It is up to individuals to invest wisely short and long term in order to make up for the short fall if he or she would like to live comfortably after retirement without giving up some retirement plans. In this article, we will discuss some important characteristics of registered retirement saving plans.

I. Reduce income tax withhold
Contributing to RRSP through pay role deduction will reduce the amount of income tax withheld on your employment income. You pay less income tax over the year, rather than overpaying and then applying for a refund the following year. Usually, Customs & Revenue Canada will permit a reduction in withholdings for RRSP contributions made early in the year.

II. When to make RRSP contributions
On the first day of any year, but you may not know your 2007 RRSP contribution room until February or March because you have to wait until Customs & Revenue Canada advises you of your RRSP limit for the new tax year, it will take several weeks after your previous year tax return is assessed.

III. Carried forward for unused contribution
Your unused contribution amount after 1990 is allowed to carry forward and can be used in any future year.

IV. Investment options
You can invest your RRSP in any eligible investments such as guaranteed investment certificates, government bonds, shares listed on Canadian stock exchanges, corporation bonds instruments listed on Canadian stock exchanges, and units of Canadian-based mutual funds that meet government guidelines.

V. Spousal contribution
a) Contributes to spousal RRSP that qualifies for a tax deduction for you, as long as the total contributions to your plan and your spousal plan do not exceed your contribution limit.

b)When you reach age 69 and must convert your RRSP into a maturity option, if your spouse is younger than you you can maximize your tax-deferral and tax payment by placing your matured RRSP into your spouse's name.

c) RRSP withdrawal by your spouse is taxable to your spouse if you have not made any contribution to your spouse's plan in the past three years.

When Should You Begin Planning Your Finances?

2008-12-16T09:04:00.000-08:00

Most teenagers don't make very much money, if any at all. I remember when I was a teenager not too long ago, I didn't get a part-time job until I was 16 and I was lucky if I made more than $50 a week. In addition to low income, teenagers usually have few expenses as well. They might have to pay for gas, and maybe car insurance, but not too much else besides they things they want.

When we get older, get full time jobs, and move out on our own, we begin to make more money and accrue more expenses. This is when finances begin to get more complicated. We have higher income, we pay for our homes and food, and we pay taxes. This is when we need to start planning our finances, right?

At this time, and for the rest of your life, you should plan your finances. You should make goals for yourself such as saving for retirement, buying a house, and paying for your kid's college. You should also be budgeting your money. Make a plan of how you will be spending your money every month and plan to save more and more if you can. It is the money you save here that you will use to complete your goals.

At this point in your life, you should be planning your finances, but you should actually start much sooner. Just because you don't make a lot of money at 16 or 17 years old and you do not have many expenses does not mean it is not a good time to start planning. It is actually the perfect time to start planning.

When you have less to plan, it is that much easier to do. Your goals will be different. They may include saving to buy a car and saving for college. You can still make a simple budget. You can control your spending and save more. In fact, because you have so few expenses, you will be able to save even more. You might feel that you should be able to spend your money on whatever you want. You should, but part of that want should be for your future. Even if you just save 10% of what you make as a kid, you can save a considerable amount.

By starting this early, or even as a kid, financial planning will become a habit. Millions of people get into trouble or fight because of money. These people probably didn't start planning their finances early, if they ever did at all. Whether you are 15 or 45, it is never too late, or too early, to start planning your finances.

Characteristics of Certain Term Annuity

2008-12-16T09:03:00.000-08:00

As we mentioned in other articles the government only represents about 30% of our retirement income, the company retirement pension plan offers another 30% and many of us do not have one. It is up to individuals to invest wisely short and long term in order to make up for the short fall if he or she would like to live comfortably after retirement without giving up some retirement plans. Now you have reached your retirement age, there are some important investment options for your RRSP or 401k plan. In this article, we will discuss types of certain term annuity.

I. Definition

Certain term annuity guarantees a periodic payment of a predetermined amount for a fixed term. Once the term has elapsed, payment stops, even if the annuitant is still alive. Because of the tax-deferred status of these products, many wealthy investors or above-average income earners choose to purchase term certain annuities for the tax advantages.

II. Payment

Term certain annuities pay varying amounts depending on how much money was used to purchase the annuity. If the term certain annuity is short, then each payment back to the annuitant will be large. If the term is long, then each payment will be small.

III. Benefits of certain term annuity

a) Certain term insurance works best for wealthy people who want to defer taxes on income for a fixed period of time. A term certain annuity contract can sometimes be an option.

b) Individuals who will retire soon and need income coverage during that time.

c) As an alternative to other investments for a short period of time before retirement.

Since the main risk is that you may outlive your term annuity and be left with no money, it is wise to purchase this type of annuity under the guidance of a reputable financial adviser.

Austin Bank - Is the Austin Bank As Good As Advertised?

2008-09-26T22:26:00.002-07:00

If you live in the city of Austin, chances are you've heard of the Austin Bank. Located in the eastern part of Texas, Austin bank is one of the more widely used banks in this part of the state, and if you live here, chances are you or someone you know does business with them. Are they the best, or should you look elsewhere?

Like so many banks today, the Austin bank has been in business for over one hundred years, and therefore experience isn't an issue with them. It's almost a rarity to find a bank that hasn't been in business for at least a century, and Austin is no exception.

While this doesn't make them stand out from others, it still is something to keep in the back of your mind. They know what they're doing-how else could they be in business so long?

The bank has twenty eight different locations, and are constantly expanding, so regardless of which part of Austin you live in, you can find one in easy driving distance.

What kind of financial services can you expect to find with the Austin bank? Hers' a hint-it's not just personal banking. Like just about every bank around the country today, Austin has expanded and now offers home loans, credit cards, investing, and many other services, so no matter what you need, you can get it with them.

Obviously, you will need a higher credit score to get their home loans or credit cards, versus going through another company.

Anytime you go with a bank, you will need a higher credit score, and that's just the way it is. Austin is no exception. However, if you can get one through them, it's definitely worth it, as they offer very competitive interest rates, primarily because they have to. Remember, whenever you are dealing with a smaller bank like Austin bank, they don't have the luxury of screwing around with interest rates, because they need all the customers they can get.

Therefore, if you are thinking about doing business with Austin Bank, they certainly would be a wise choice.

Five Tips For Shopping on a Budget

2008-09-26T22:26:00.001-07:00

Sticking to a budget is hard enough, but malls, outlets and grocery stores don't make it any easier; with countless promotions, sales, and strategically-placed impulse-buy items, it's easy to get sidetracked and overspend. Willpower and discipline are great tools to combat overspending, but many people find it hard to maintain them when faced with a great sale. Never fear, there are a few simple tricks and tips you can use to help keep you on track and overcome the temptation to overspend.

1. Always take a list.

While seemingly simple, and even obvious, this is a great way to help keep spending on track. If you have a specific list of items you need, you can shop with more purpose, and avoid unnecessary browsing (which all too often leads to unnecessary buying).

2. Consolidate shopping trips.

Whenever possible, it's best to combine all your shopping into one day. This is a great way to make sure you don't spend extra time in a given store, browsing unnecessarily, or getting sidetracked from your pre-set shopping agenda. Plus, consolidating your shopping into one big outing will save gas in the long run, which is always a good thing, both for your budget, and for the environment.

3. Clip coupons.

Check your weekly paper for circulars and coupons. Be sure to have your list ready when you do this, to avoid adding unnecessary items (remember, just because it's on sale doesn't mean you need it). While you may not find coupons for everything you need, you'll likely find savings somewhere. Over time, even a few dollars a week will add up big time. Look at it this way: if you save just $4 per week, you'll end up with an extra $208 each year.

4. Plan ahead; shop accordingly.

Food is arguably one of the largest costs in any family's budget. It's one that can't be skipped or compromised, and with costs of everyday items like milk rising considerably, it can be a huge drain on any spending plan. While there's no realistic way around this need, there are ways to help maximize your spending. Planning meals a week in advance can help you make the most of your purchases; simply plan consecutive meals that use the same primary ingredients. Buy those ingredients in bulk to save even more. And always, always save (and use) leftovers.

5. Reward yourself.

Regardless of the best intentions, it's easy to get sucked in to unnecessary spending; it's practically human nature. An unexpected sale at your favorite store, a discount on an item you don't need, but have wanted for some time. You can curb overspending by operating on a rewards system. Set goals for yourself, like limiting spending to a certain amount, and make room in your budget for a special treat or reward when you reach your goal. If you don't achieve the goal, leave the reward money in place and try again for next month. Having something special to look forward to will make it easier to exercise self-control and avoid splurging on items you don't really need, or even particularly want.

If My Personal Assets Are Worth Less, Am I Worthless Too?

2008-09-26T22:26:00.000-07:00

The biggest problem with defining oneself by one's possessions is unfortunately one's possessions. This follows directly behind the old proverb 'be careful what you wish for because you just might get it.' And later wish you hadn't.

This week we learned the median price of a house in Southern California dropped from $500,000 to $325,000 in twelve months. In my county in the Bay Area the median house price dropped from $770,000 to $582,000 in one year. These drops in price have amounted to almost $200,000 per house in one year.

This is a truly disturbing trend. Let's say my net worth drops from $1,000,000 to $600,000. Do I mentally and perceptually have to scale back my self esteem 40%? "I'm less the man I was a year ago by about 40% or $400,000." What a bummer!

That's not the way it's supposed to go. Everyone said "get moving up the housing equity ladder and sooner or later one would either be rich or have a steady refinancing income." Right.

So a lot of folks one sees walking around the streets of Salinas, Stockton and Santa Cruz are only shadows of their former selves because they truly feel they are less than they once were.

Their elevated self opinions have taken a big hit and they just aren't the hot stuff they were some time back. They are not smiling. They are not happy campers. Life is one big bummer.

Five years of equity growth wiped out in one year. And more of the same down the road.

Fortunately misery does love company and we are not seeing mass suicides by the fact that equity loss is the number one group therapy topic in coffee shops and workout gyms in the Bay Area. This and the uncomfortable realization there is no security. The realtor lied. Houses don't always keep going up.

As a reaction to the widespread fraud perpetuated by subprime loan underwriting, lenders are now actually making buyers come up with a down payment and verify income.

As it looks right now, the banks and investment firms will get the bailout and the government and consumer the tab. So if I really want to be crazy I will still try to be caught up in the moment and buy that dream house right in the middle of a declining market. Right. Smart strategy.

That means I will have to wait until the market bottoms out and then starts to rise before I can hope that it eventually gets back to the point at which I signed the mortgage. That could be 3-5 years in some areas and 5-10 years in other areas. Not much of an investment but like the realtor said, ' it's not just a house, it's equity in your very own home.'

"I lost $500, 000," the victim proudly touts, "and it could be worse next year." Right. That's certainly more likely than you admitting that for the past 20 years you have slaved like a beast of burden to increase your personal equity so you could once and for all get rid of your inferiority complex 'middle class feeling'. Right. And just where do you think you will end up?

In fact you get this sinking feeling that if you had it to do over again you wouldn't do it the same way. Going sideways is not only less glamorous but not very unproductive.

But it's always too late to act and once again, depressed and depraved souls will question their reason for being and cling to their guns and rock and roll to lessen the pain. And maybe a bottle of Jack Daniels now and again.

Those that can't afford the ten dollar shots at the Uptown Deco Lounge will be relegated to sipping Wild Turkey in back alleys and church cemeteries. Men will huddle against the cold and wind as they yearn for the days when at least on paper they were worth millions.

Henry David Thoreau said the farmhouse imprisons the farmer so in the end maybe a really good tent isn't so bad after all. As long as it isn't in the snow. Or mud.

Children will someday ask their parents what it felt like to be paper millionaires as mama's and papa's eyes get glassy remembering when high self esteem matched high personal equity.

"Well son, it felt like being a lot more about being whole and a lot less about feeling worthless." The son is bummed. Short term he realizes he is getting royally shafted.

But not to worry, Junior There is always hope. Not much maybe, but some. If we didn't have hope what would we have except a lot of worthless mortgages exceeding assessed value.

Maybe ours is not to reason why but hope things get better so we can get back to doing what we do best and that is building personal equity. Or perhaps the illusion of building personal equity. When that happens our frowns will turn to smiles and things will start to move in the right direction.

So don't be foolish. Just because you have the chance to get out of the rat race and perhaps discover and actuate the real you, doesn't mean you have to. You can continue on the treadmill until another bust comes along and again takes the wind out of your sails. There is no law prohibiting you from being a complete fool. And there is no reason to live a lie, no?

But no matter what you do never buy the argument that you might be happier living a simpler life without the artificial trappings of status and materialism. If enough people begin to feel that way our way of life will be in trouble.

Keeping Your Money Safe

2008-09-26T22:25:00.001-07:00

With everything going on in the financial world lately - the Treasury taking over Fannie Mae and Freddie Mac, the collapse of Lehman Brothers and IndyMac Bank, and the government bailout of AIG - it's no surprise that investors are wondering if their money is safe.

Thankfully, there are safety measures in place for various types of accounts and investments. Here is a rundown of the different safetynets in place for each type of account or investment you may have:

Banks: Bank deposits are ensured by the Federal Deposit Insurance Corporation (FDIC). Basically, the FDIC insures deposits up to $100,000 per owner, per bank. If you have $100,000 or less in your name at any FDIC-insured bank or savings association, you have nothing to fear. Since the limit is per owner, that means you could actually have more coverage than you think (for example, if you and your spouse have a joint account with $300,000 at one bank, $200,000 is insured - $100,000 for each "owner").

In addition, if you have certain types of retirement accounts, such as an individual retirement account, you're eligible for even more coverage - up to $250,000 per owner, per bank. However, the FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities and municipal securities, even if you bought those investments at an FDIC insured bank.

Credit unions have similar coverage through the National Credit Union Administration (NCUA).

Mutual Funds and Brokerages: Some investors are wondering what would happen in the event that the mutual fund or brokerage company they hold their investments at would fail. The funds that you own at a mutual fund company or a brokerage account are separate from the company's assets. So in the event of a company failure, your assets would not be liquidated to pay the company's debts. If the mutual fund or brokerage company failed, your assets would just be transferred to another brokerage company.

However, if any of your assets come up missing, whether it's due to company failure, fraud or poor recordkeeping, you are protected. The Securities Investor Protection Corporation (SIPC) is a non-profit corporation that protects investors if a broker/dealer defaults. Investors are protected up to $500,000 per account, per brokerage company.

Note that the SIPC doesn't cover all investments. Some that aren't covered include annuities, commodity futures contracts, foreign currencies, limited partnerships and precious metals. Also, the SIPC isn't providing protection against market losses or bad investments. The purpose of the SIPC is to replace securities that are missing from customer accounts, up to the limits of its coverage.

Now that you are aware of the limits, both at banks and brokerage or mutual fund companies, the best way to protect yourself is to make sure that you are not above the insured limit at any of the financial institutions you do business with. If you are, you may need to open different ownership type accounts or open new accounts at different institutions to ensure that your money is safe. In addition, not all CDs and deposit accounts are FDIC insured. Before you purchase an investment, make sure it is covered by the appropriate agency, and do your research to determine if you are investing with a reputable company.

Home Cost-Cutting - Replacement Windows and Eating Habits

2008-09-26T22:25:00.000-07:00

In a time of economic downturn your ability to budget the needs and demands of your home is essential to your ability to stay afloat and stay prosperous. Though the US economy may currently be on the brink of serious danger and is approaching levels of income inequality akin to those seen in the year's leading up to the Great Depression, the average homeowner need not feel a 'Great Depression' of their own spirits and ability to properly finance their lifestyle.

Money saving and cost-cutting is a life long habit that needs to be learned and performed on a daily basis for it to have real world affects. Right now during this time of economic hardship, an excellent opportunity presents itself to begin a life-long commitment to living smart and saving money. There are numerous ways to save money around the house but two vital and simple ways of cutting back your monthly expenditures is by outfitting your home with energy efficient windows and cutting back the amount that you eat out.

Investing in Replacement Windows: Purchasing replacement windows is indeed an investment- you will be putting money into a resource in the hopes that it will eventually pay you back. This is somewhat similar to investing in a company, whereby you purchase stock (and initially expend money) with the certainty that that company will prosper and you will see increased returns on the amount of money you put in. In this way, your investment pays off by earning you more money than you initially spent. Similarly, replacement windows initially cost money and are an expense, but if you purchase energy efficient, cost-effective windows, you will save money on your heating and air-conditioning bills on a monthly basis and will make back the difference in no time. The theory behind replacing windows is that with the correct energy-efficient windows, the seal between the window and the windowsill is reduced to a minimum and the amount of air that is allowed to escape from the house (and thus lost) is also reduced. By keeping the temperature-controlled air of your house inside your house you save money on your heating bill.

Eating Habits: Many Americans are guilty of eating out far more often than their budgets should allow, but the problem is that once one gets into a habit of eating out at restaurants frequently, it is very difficult to go back to the grind of making your own meals at home. Here, the replacement window theory may be an effective analogue- one can think of changing one's eating habits as an investment whereby initial discomfort is offset by the eventual gains in both revenue and personal happiness. Though it is sure to be a gradual process, cutting back on the amount of time you spend at expensive restaurants in favor of making home-cooked, cheaper food, is sure to be a successful investment in your life.

While purchasing efficient windows and leading a more economical dietary life are only two of the many ways one can save money in one's home, they are also two of the most effective and sure-fire ways to get more cash in your pocket. Think of these two practices as an investment, stick with them, and you'll be seeing dividends in no time.

Give Shape To Your Dreams With Cheap Personal Finance?

2008-09-21T21:39:00.000-07:00

In the present world, each and every individual is looking for some external source of finance to cope with the delinquencies of the existing environment. An obvious choice would be seeking refuge in loans for all your requirements. And these days, there is no dearth of the lenders offering cheap personal finance for all your needs. All you need to do is search well. Let us discuss all the relevant details about cheap personal finance like where and how you should search to find the best nominal rates.

As implied by its very name, cheap personal finance can be availed for nominal rates and are thus synonymous with secured personal finance, as well. For these loans, you will have to offer some of your assets as collateral to secure the loan amount, which will be seized by your lender, in case of non repayment of the loan amount.

In turn of the risk coverage factor, your lender will facilitate you with a large number of benefits. Some of the advantages of cheap personal finance are lower rate of interest, larger loan amount and flexible terms of repayment etc. So, in order to order to avail the innumerable benefits of cheap personal finance, you will have to be extra careful with the repayment schedule of the loan amount.

For cheap personal finance, it is recommended to borrow up to a limit, which you require and can repay easily. You can take up cheap personal finance for any of your needs. From repair of home to debt consolidation and educational purpose to purchase of vehicle, you can use it for all.

For best deal of cheap personal finance, you can make your search through various online sources. There you will find a large number of lenders at a single place. Compare the quotes offered by the different lenders and choose the best deal.

Ben Gannon is a senior financial analyst at Cheap Finance UK with an acumen for business and loans. In recent years he has taken up to provide independent financial advice through his informative articles. His articles are widely read because of the lucid manner of writing and thoroughly researched datas. To find Finance UK, personal finance, personal finance UK, business finance, small business finance, small business finance UK, Cheap personal finance, cheap personal finance UK that best suits your need visit http://www.cheapfinanceuk.co.uk

Article Source: http://EzineArticles.com/?expert=Ben_Gannon

Are the Little Things Eating Your Budget Away?

2008-09-19T20:55:00.003-07:00

I've written often enough about saving money. There are some standard tips just about anyone will give you - cut the cable bill, drop to either just land line or cell phone, spend less at the grocery store. And of course, quit buying coffee at the coffee shop.

Each of the above can seem like such a small thing, especially if you spread the cost out over the month. But when you put them together for the month, you may find they're a lot of money. That's why they are so often recommended for the chopping block.

If that's not enough, now what?

The tighter your budget gets, the more creative you need to be about saving money. You need to look at some of the less obvious little things that also can add up.

1. Cut down on your energy use.

Turn off those excess lights! Put up a clothesline if you can, and dry clothes outside in warm weather. Find ways to block more heat from coming in during the summer, and take advantage of any sunlight during winter.

You can also unplug electronics that aren't in use. Many electronics continue to draw just a little power even when you turn them off.

2. Get on Freecycle.

Thrift stores are great for saving money, but free (aside from the gas to go get it) is even better. You might be amazed what people will give away. You can reciprocate when you have something to get rid of that someone else might like.

You can also sell the things you don't need anymore, whether through eBay or a garage sale, but offering things for free when you're getting other things for free is strongly encouraged.

3. Share resources with friends and neighbors.

You may know several people in financial situations similar to your own. If you can borrow things that aren't needed daily you may be able to save the expense of buying them.

This obviously takes a lot of trust and/or tracking. You can't have one person borrowing things and never returning them or reciprocating, not to mention the potential for damage. But if you can avoid buying garden tools if you decide to start a garden, for example, you can cut your costs down nicely.

4. Ask for a credit card rate reduction.

Often enough it works, and it only takes a few minutes. Talk to a supervisor if you need to.

5. Drink more tap water.

It's the cheapest drink in the house! It's even cheap if you count buying filters if you don't like the way your tap water tastes.

I like to keep a bottle of tap water in the fridge so that it's already cold. Works wonders for the taste, and if it's a really hot day ice cubes can help to keep it cold.

Creating an Emergency Savings Fund in a Few Easy Steps

2008-09-19T20:55:00.002-07:00

Having an emergency fund is not a luxury - it is a necessity. Most personal finance experts recommend that people have emergency savings to cover at least between three and six months' worth of regular household expenses. Even if you think you don't need such an account, it's true that eventually you will. You can't predict if you're going to become disabled, have a devastating house fire, or lose your job.

Let's look at how much savings you need, and how you can get started saving today.

How much do you need?

Starting an emergency savings account is something you need to do, but it's also something that you need to put effort into doing. This is a task that you're going to have to want to do.

The first step in starting your emergency fund is figuring out how much you spend each month. According to the U.S. Department of Labor, each person spends about $40,817 each year (as of 2003, the most recent year for which data is available).

On average, you'll need about $3,400 at one month, $6,800 at two months, and more than $10,000 at three months. By six months, those cumulative expenses can jump to more than $20,000.

Even if you spend more or less than these numbers, it's easy to tell that three months' worth of living expenses is a large number. Your first reaction may be, "How on earth am I going to come up with that amount of money?"

Why that much?

It's certainly true that the amount of money you'll need for a proper emergency savings account is a significant figure. This amount is necessary, however, because we do live in uncertain times and are in the midst of a recession. A company having loyalty to you is sadly a thing of the past, and you can lose your job at any time. Other emergencies can be sudden and very expensive. No matter how you cut it, there's never an opportune time for these emergencies to happen.

We know that you probably don't have an extra $10,000 tucked under your mattress. But even six months' worth of expenses, however, is a small amount compared to what you will need for retirement. Very few people don't doubt that they should save for retirement; three or six months' of expenses doesn't look like much when compared to the retirement savings you'll need for 20 years' worth of retirement.

Figuring out the numbers

It's time to start saving now that you've put things in perspective. You should approach this goal the same way that you would approach any other financial task. You need to create a plan and then put it into action.

The first step is to figure out how much money you and your family will spend each month. The three largest categories for most people are housing, transportation, and food. Multiply this monthly figure by three to figure out what you need for three months. Saving this amount of money should be your first goal.

The amount that you will need to save over five years or 2 ½ years is doable for many people. Over five years, the amount each month is less than many people spend on their cell phone. The savings each month for the 2 ½ -year plan is about the same as you'd spend on a monthly car payment.

Put your plan to work

There are many small steps that you can take to come up with your monthly or yearly savings goals. You may want to consider canceling your cell phone (or your land line) or buying a less expensive car. You can also skip your two-week vacation, save your next bonus, or reduce the amount of money you spend at restaurants and coffee shops.

You should treat your emergency fund like a bill that you pay every month. It might be a good idea to always remember to pay you first. Even though many people don't have problems sending money to their credit card companies every month, it is harder for some people to remember to send money to themselves. Figure out how much you need from your paycheck, and set that aside each month.

There is no time like now to start savings. Even if you can't afford to make large monthly payments to your account, you can take other steps. You can empty the change from your pockets at the end of the day and put it in a jar. You can eat at home instead of out, and "tip" yourself by adding to your emergency account. You can save $5 a day, and find yourself with more than $9,000 in only five years.

The Benefits of Saving

2008-09-19T20:55:00.001-07:00

Saving money is a problem for a lot of people, and in the U.S. today, personal savings are at record lows. If you want a comfortable future for your family, it is imperative that you learn to save. If you plan to save, you must first plan how you spend. Developing a monthly budget is key for ensuring you have money left for savings.

Before You Start

* Discuss your plan to save with the rest of your family and make sure they agree and understand the importance. If they recognize the purpose behind any sacrifices they must make, they are more likely to stick with the plan.

* Calculate your savings for prior year. How much did you set aside, if any?

* Make debt a priority. Use your tax refund, etc. to pay off expenses in order to pave the way for greater savings.

Pay Yourself First

When creating your budget, plan to pay yourself first. In other words, pay your bills and then pay your savings account - BEFORE you buy that new TV or take that weekend trip. Saving money now will ease financial strain when something big, like college or a new home, comes up in the future.

Get Started

It takes some effort to construct a family budge. There are many computer programs and other electronic aids to help you, and of course, you can always opt for the old faithful pen and paper. Find a good example of a budget worksheet online to give you a guideline to go by, but most of all, choose a plan that will be easy and efficient for use and compliments your needs.

You will first need to consider your monthly income. You should calculate every penny that goes into your pocket. This information will help prevent you from spending more than you make.

After you know your exact income, you should track your spending. Take at least a month to determine how your money disappears. Make a record of everything from bills to bowling in order to plan the most efficient budget.

Organize your spending into categories to include both the things you need and must pay for, like your food and your mortgage, and also the things you enjoy but could live without if you had to, like a monthly manicure or eating out twice a week.

Spend less = Save more

After you've looked at your detailed spending list, you can determine whether your debt is greater than your means. If you don't make enough to cover you car and house payments, you may need some aggressive action. For most people however, the overspending comes with the 'incidentals' and the luxuries we've all grown accustomed to.

Your incidental spending will be the easiest place to cut back and make room for saving. You can start by canceling magazine subscriptions and going out to eat less often. Rent movies instead of going to movies to avoid the snack bar pitfall. You can always pop popcorn at home.

Earned Income Credit - How to Become Eligible

2008-09-19T20:55:00.000-07:00

Families that are considered to be poor or low income are given assistance through the earned income credit, or EIC. The EIC is a tax credit that helps such families with low earnings to have a better standard of living. An EIC can translate into a tax refund of anywhere between $400 and $4,500. This article will explain how you can figure out if you are eligible for the EIC.

The earned income credit is not only for families with children. Even single individuals can be eligible to receive this credit from the IRS, even though it will be for less. Many such single people are not aware that they could receive the EIC and do not even apply.

Although it is open to many people, some individuals will not meet the requirements to earn the EIC. People who obtain the EIC must be United States citizens, have a social security number, earn a taxable income, be over twenty-five years old, not file for taxes under the Married Filing Separately category, and have a child that qualifies. Meeting these requirements is the first step in receiving the earned income credit.

In order to obtain the EIC, you need to make a sustaining income. This income can come from freelance or self-employed work. The EIC program benefits people who are willing to work for their money.

This tax credit is easier to obtain if you have a child, but that does not mean that you will automatically get it. In order to receive the EIC on the basis of your child, the child must be under eighteen years of age, under age twenty-four and currently taking post-secondary classes, or over eighteen years of age with disabilities that are cared for by a parent.

Children will allow you to qualify for the EIC if they live with you for at least six months of the year. If the child's parents are separated, the only parent who can claim the child towards the earned income credit is the parent who currently lives with the child. The EIC can be qualified for by means of foster children as well. Any and all children who are used to obtain the EIC must have a valid social security number.

If a married couple wishes to receive the tax benefits of the EIC, they must file their taxes jointly. Separated couples cannot both claim their children for the EIC, so they will have to decide who will claim them. You can claim the earned income credit on any 1040 tax form.

You may qualify for the earned income tax credit without even being aware of it. You might very well be missing out on money that you are entitled too because of misconceptions regarding the EIC.

Find the Right Financial Advisor For You

2008-09-19T20:54:00.000-07:00

We all need getting done a suitable financial plan if we want to live happily after retirement. This oft overlooked necessity requires in-depth consultations from a financial advisor; however, it's our forced ignorance that bars us from looking deep into the fact and understands the concept that gives a financial advisor his entity. The following paragraphs are a humble effort to let you know all about the financial advisors and their importance.

What is Financial Advisor?

A financial advisor is a trained and certified professional who makes your finances flow into the right channels and yield more in terms of money. Not all of us know how to achieve a certain financial goal within a specified period; we are also sometimes ignorant about analyzing the risks that an investment can bring. A financial advisor calculates all those risks and tallies them with your investment objectives to make you a gainer in the future.

How to find the Right Financial Advisor!

Experience comes first in this regard. A financial advisor, how much ever well trained and educated, needs a certain amount of hands on experience to enter the practical field. Experience is important since it also proves how long he is into the business as well. Without a certain amount of experience, a financial advisor won't be able to mold and fine-tune a financial plan as per your need.

Experience brings the clientele to a financial advisor; so when you are choosing one, always ask about whom he has served so far by being into the industry. To the one who has held a good record overall, it shall come as a matter of pride; to the one who is not, it's the toughest test he'll have to go through.

Next comes the registration part. Almost all reliable and honest financial advisors are registered with a regulatory body. It's not that the one who is not is dishonest, but being so brings about that extra surge of credibility.

So when all are done, it's time that you should check his credentials before getting interested in his fee structure. Credential provides certain stated facts by the clients that reinforce the goodwill; once you are satisfied with that, concentrate on the financial advisors fee arrangements.

There are some who charge a direct fee and there are some who works for a commission. Find out what suits you most and whether a third kind of arrangement can be made.

1 Tip For Stretching Your Everyday Dollar

2008-09-14T22:12:00.000-07:00

. Share your meals.

Many of you may take your lunch to work or may go home and eat for lunch. But for the millions of people who go out to eat everyday at lunch, there is a great trick to implement in your daily routine. Yes, it is expensive to eat out, but when you do go to lunch make sure you go with your spouse, friend, work buddy or someone who will practice the art of sharing a meal.

Here's what you do. Both of you should order water. Then, select a meal and share it. Ask for a second plate. You will save a bundle. I am going to break down some numbers for you:

TRUE LIFE EXAMPLE:

My wife and I went out to eat for lunch a few days ago to a great Chinese restaurant. We ordered:

- 2 Soft Drinks - $4
- 2 Meals - $13
- Tip - $3
- Total - $20.00

A couple of days later we decided to experiment at the same exact restaurant, but since we both had food left from the other day we decided to share a dinner portion as opposed to two lunch portions, and we ordered water to drink. This was the result:

- 2 Waters - $0
- 1 Meal - $9
- Tip - $1.50
- Total - $10.50

So, we both had plenty of food to eat, we did not overfill ourselves, and we saved a total of $9.50.

Now, let's create a hypothetical situation and say that we changed our habits every day to this method for at least one meal per day, for 50 weeks per year, 5 days per week.

That is 250 days at a savings of $9.50 per day, resulting in a GRAND TOTAL YEARLY SAVINGS OF: $2,375.00

Now, go check out my great personal blog for more creative tips on saving money and eliminating debt. Oh yeah, I also have a FREE 21 Page e-book you can download on how to get out of debt and build wealth over time. It is awesome and free!

Justin V. Cecil, MBA

Debt Freedom and Personal Finance Fanatic.

MY PERSONAL BLOG: http://www.PeskyDebt.net/

Article Source: http://EzineArticles.com/?expert=Justin_Cecil

Justin Cecil - EzineArticles Expert Author

Banks Vs Internet Banking

2008-09-14T22:11:00.002-07:00

With the internet in our midst, people are given the convenience of doing a variety of financial transactions online whether at home, in the office or even while on the go. This advanced and phenomenal technological innovation has indeed made life easier for many people including professionals, businessmen, housewives and students. However, this does not necessarily lead to the end of the existence of the brick-and-mortar banks. The standard banks will always be there as there are still consumers who opt to transact in a real bank where they feel most secure and comfortable.

The traditional banks and banks that have gone online have their respective advantages and disadvantages. It's really up to the consumer to choose which type of banking service to use. What matters is you know your financial needs, you keep an open mind on the latest trends in the banking industry and learn about them if possible. You may be loyal to your standard bank but who knows, you may also need to use the online banking service one day for an urgent transaction when you're pressed for time or unable to go out for health reasons.

Standard banking

Conventional banks are those that still use the paper and pen in dealing with different financial transactions. The reality today, though, is that many have gone online as well introducing internet-only products to compete with the purely online banks. While these traditional banks cater mostly to the old customers, experts say they should also keep up with the trend and cater to the younger, internet-savvy customers if they wish to attract more clients.

Security and personal touch are major considerations for people opting to use the traditional banks. Most of them would say having human contact makes them feel comfortable when banking. Some feel secure when they deposit cash via a real teller.

Online banking

Banking on the internet is very much the same as when you do transactions in a real bank. The only difference is that you're using a computer instead of a paper or phone in accessing your account and information, making payments and reconciling statements. There's no need to go to a local branch office as you can accomplish various financial tasks in the convenience of your home or office in a few clicks.

One major advantage of internet banking is its being cost effective. Some banks charge lesser fees if you use their online banking services. Also, since you don't need to commute or drive to a local branch, you save on money and gas. Additionally, banks are able to offer more products and services as they don't have the overhead expenses such as the need to pay tellers.

For busy people such as frequent travelers, professionals and businessmen, the online banking option is very ideal. As these people need to keep track of their finances and other urgent matters even while in other places or abroad, they can still gain access to their accounts via the internet.
Online banking is projected to expand by 55 percent to 72 million households by 2011, according to a report by Forrester Research. The target users are the so-called Generation Y or those born in the late 1970s.

And so, with these two options available to consumers today, it's easy to make a choice where banking is concerned and perhaps even better if you use both.

Learn more about the advantages of internet banking by visiting http://www.webinternetbanking.com.

Article Source: http://EzineArticles.com/?expert=Gloria_Smith

Finding the Best Current Accounts

2008-09-14T22:11:00.001-07:00

When opening your first current account, it's easy to opt for the same account your parents have. Or if you are heading off to university and opening your first current account you may choose the one that offers the best perks: such as a free five-year Young Persons Railcard, which gives you one-third off rail travel. Few people give any more thought to it than that.

But seeing that a current account fulfils such a crucial role in your finances because most of your cash flows through it at some stage, it's worth thinking about what you want from it before signing up.

Some banks pay extremely poor rates of interest on current accounts and charge extortionate rates of interest on overdrafts, yet those offering the worst deals also have the largest number of customers.

The 'big four' - Barclays, HSBC, Lloyds TSB, and NatWest - all pay 0.1 per cent interest on balances (although Lloyds TSB also has an account paying a higher rate of interest as long as you pay in a certain amount each month). Other banks pay more than 30 times this amount of interest.

Overdraft Facilities

As well as providing you with a convenient home for your money, most current accounts offer so called overdraft facilities. This means you can use you account to borrow money from the bank.

There are two types of overdraft - the 'authorised' overdraft where you agree with the bank a set limit on any borrowings and the 'unauthorised' overdraft where you slip into the red without first telling your bank or you exceed your authorised overdraft limit. Charges on both types of overdraft are high but especially so on unauthorised overdrafts - they are best avoided.

The big four also charge around 16-18 per cent on authorised overdrafts (although Barclays has some packaged accounts with 9.9 per cent overdrafts). But you can get an overdraft rate of under 8 per cent if you shop around. Yet despite this, some 70 per cent of all current accounts remain with one of the big four banks.

No bank or building society offers the best deal on every single product. One bank may have a fantastic mortgage range but offer a low interest rate on its current accounts. Product providers specialise in certain areas, offering one or two really attractive deals to pull in the punters. Other customers end up paying for this great deal - usually those stuck with an uncompetitive current account.

Check for an introductory offer. Some banks pay a lump sum or charge 0 per cent on overdrafts for a limited period when you open an account. Find out whether you qualify for preferential rates on other products offered by the bank, such as insurance or personal loans.

When comparing personal finance institutions, discover what other services are on offer, such as the ability to buy or sell shares or free financial advice. If you're keen on being green, determine whether you can get an ethical banking account, which are provided by socially responsible banks that don't invest in companies involved in tobacco, gaming, gambling, or pornography.

Here, on our website, you will find accurate information on credit cards, loans, insurance, current account and mortgage deals for efficient personal finance management.

Article Source: http://EzineArticles.com/?expert=Liza_Mathers

Gaining Access to Your Current Account

2008-09-14T22:11:00.000-07:00

Having money sitting in your current account is all well and good, but you need to be able to get to it. Fortunately, modern banking methods offer you a multitude of ways to access your dough, from stepping into a solid building and getting money from a live person to choosing the virtual route of a standalone Internet bank (keep in mind that the money is all too real).

In the following sections, we take you through the various access methods and highlight points to consider when choosing a current account to meet your individual needs.

Going automated with ATMs

Bank branch ATMs now offer free shared access to consumers' accounts, so you don't have to pay if you use another bank's ATM to withdraw cash.

You should check the maximum amount of cash you can withdraw from an ATM in a single day. This is usually around £300, subject to available funds or an arranged overdraft, but it can vary. If you are likely to deposit cash or cheques into your account, find out whether you can do this via your bank's ATMs to avoid queuing for hours in your local branch.

Scouting locations

Most current accounts offer a cheque book and cheque guarantee card (which often doubles up as a debit card). However, many people no longer pay by cheque, so there are a number of current account providers - usually online - who don't offer a cheque book (in exchange, you might get a slightly higher rate of interest on balances).

If you do want the option of paying by cheque, make sure the account you sign up for offers this. Check what limit is on the cheque guarantee card - it may be as low as £50, although some accounts go as high as £250.

Banking by phone

Find out whether the bank has a free or local-rate number for telephone banking and what services you can access by phone. This could make a difference if you contact your bank on a regular basis.

Clicking through the Internet

The growth of Internet banking has been phenomenal. A number of high-street banks are behind the various Internet banks, although the latter are run as standalone operations. So, for example, Halifax owns Intelligent Finance, Abbey owns Cahoot, and insurer Prudential owns Egg.

Standalone Internet banks offer better rates of interest on balances and overdrafts than high-street banks. They can do this because they have lower overheads (no branches). Instead, you get 24-hour access, 365 days a year. But the accounts on offer are more limited than on the high street and there are times when you might want to speak to someone face to face. With many standalone Internet banks you have to rely on the phone or email, which doesn't suit everyone.

You won't get a monthly statement in the post either: instead, you'll be able to access an electronic statement online. If you really want a paper statement for your records, print this off and file it.

Weighing balances

Many banks require only £1 to open a current account, but some providers insist that you deposit a minimum amount of cash each month, or that your balance doesn't dip below a set amount. If you don't have much cash to spare, steer clear of such accounts because if your balance dips below, say, £250 you may forfeit your interest. Find out whether there are any penalties for not maintaining a minimum balance before signing up.

Accruing interest

If your current account is usually in the black, it's sensible to opt for one paying a reasonable rate of interest - 3 per cent or above - to maximise your returns. However, these accounts often stipulate a minimum level of funding required per month, so do look carefully at the terms.

Terms and conditions

If there is a chance that you might go overdrawn, check what the charges are for doing so. Overdraft rates vary significantly between current account providers, so shop around for the lowest one if you need an overdraft and inform your bank before going overdrawn. Unauthorised personal finance overdrafts are far more expensive than authorised ones.

It's worth finding out how much you can go overdrawn by if you may need more than a few hundred pounds. Ask whether you can go overdrawn by a certain amount without having to notify your bank beforehand and not have to pay over the odds for this.

Here, on our website, you will find accurate information on credit cards, current accounts, loans, insurance and mortgage deals for efficient personal finance management.

Article Source: http://EzineArticles.com/?expert=Liza_Mathers

Personal Financial Software – To use it or not?

2008-08-29T11:03:00.000-07:00

If you are reading this, then you obviously have access to the Internet. And, more than likely, a PC at your home or work. These two requirements are the basis for using personal financial software. Chances are high that you have seen ads for personal finance software. But, should you use this software to help perform the most basic of personal finance tasks?

In our culture instant access to information and ease of information reigns supreme. Anything that is available to make life easier and more convenient is considered chic. Not to be outdone, personal finance software fits this mold very well. And for good reason. Ease of use, error protection and a myriad of features make this a must for everyone. Use it and be better because of it. The ability to categorize expenses and organize your current and savings accounts is worth the time, money and effort.

You have two options available. First, you can purchase software to load onto your PC. Or you can access a site via the Internet that will allow you to perform your personal finance activities there. The difference is that with software on your PC, you have the actual information on your hard drive. If your Internet connection goes down for some reason, you still have access to your data. But, then the down side here is that if your hard drive crashes, you can lose it all unless you have a backup. Then, even if you do have a backup, how long would it take to get your PC up and running for you to be able to access the data once again?

Online personal finance providers give access to your stored data from any PC that can get to the Internet. That gives you options. If you travel to your mother’s, but do not have a laptop to take with you and you find you need to check your balance, just log on at her house. But this can also work against you. If there is no Internet access, there is no viewing or changing data.

You need to be aware of these differences and make the choice between the two as to which option would best fit your needs. If you choose software for your PC, you will enjoy many features. At this point, the Internet sites offering this service are still in their infancy and do not have as many features and benefits.

Whichever you choose, your personal finance tasks will be easier and more accurate. Do not delay – get in on this now.

Personal finance briefs

2008-08-29T11:01:00.000-07:00

Fuel savings add up with car maintenance

Barack Obama got ribbed by John McCain when he advised drivers to fill their tires, but the Car Care Council, a nonprofit funded by an auto trade group, agrees with the Democrat.

Car care, the group says, can save a lot of fuel and money, based on $3.96 a gallon gas:

• Once a month, check that your tires are properly inflated. Gas savings: up to 12 cents a gallon. Boost in fuel economy: up to 3 percent.

• Replace clogged, dirty air filters. Check them every 3,000 miles. Gas savings: up to 40 cents a gallon. Boost in fuel economy: up to 10 percent.

• Use the right grade of motor oil, and change it regularly. Gas savings: less than 1 cent a gallon. Boost in fuel economy: 1 to 2 percent.

• Tune up your engine, about once every 30,000 to 100,000 miles, depending on the car. Gas savings: 16 cents a gallon. Boost in fuel economy: 4 percent. The group also recommends keeping your gas cap on tight and replacing spark plugs.

FIRED AND REHIRED

Downsized and out of a job can be a rebirth

So you got downsized. It's happening a lot this year -- 579,260 job cuts reported so far, according to outplacement consultants Challenger Gray & Christmas Inc. -- but experts say you shouldn't see it as career death. In fact, it can be a rebirth.

"A majority of people end up telling you it's the best thing that ever happened to them," said Marc Cenedella, CEO of jobs site TheLadders.com.

How to move on:

• Get rid of the negativity: Write an angry letter to your boss, then rip it up. Take a vacation. Get relaxed and refreshed so you can be positive in interviews later.

• Make a plan: Interested in a new field? Here's your chance. Investigate retraining programs, take classes. "Reassess what you want to do," said Tony Santora, senior executive at Right Management, an employment consultancy. Take note of your strengths.

• Network, network, network. "Over 50 percent of the jobs out there are found through networking," Santora said. Reach out to friends, family, former colleagues. Use online sites like LinkedIn.com. Call up trusted recruiters.

Personal finance literacy worsens amongst British adults

2008-08-29T11:00:00.000-07:00

Despite personal finance issues taking centre stage over the past 12 months, the latest research from Abbey Banking has found that financial literacy amongst British adults has in fact declined since this time last year...

In August 2007 Abbey set a simple GCSE level personal finance exam amongst a representative group of adults, and found that one-in-ten (5.9 million) would fail to achieve the 40 per cent mark needed to achieve grade GCSE grade C (or O'Level pass). One year on and a repeat of the exercise shows that the number of adults failing to achieve a grade C has increased by 1.2 million adults - to one-in-seven.

At the top end of the scale one-in-four adults (25 per cent) matched last year's results by scoring an A*, but straight As were down on last year by 2 per cent - to 28 per cent. Twenty two per cent were on for a respectable B (up one percent from last year), but C grades fell year on year from 13 to 12 per cent.

Government plans to introduce personal finance skills into the Maths GCSE should certainly be welcomed by 18-24 year olds, since they slipped from an average score of 56 per cent in 2007 to 53 per cent in 2008.

The top wrong answers were:

88 per cent didn't know that they get six weeks to pay back a credit card before it accrues interest. (86 per cent last year)

38 per cent failed to explain that negative equity is where your mortgage is larger than the value of your house. Better than last year when 47 per cent got the answer wrong.

25 per cent were unaware that failure to pay a secured loan meant that your house could be sold to pay for the loan, up 2 per cent on last year. Five per cent thought that it involved selling off the contents of your house.

18 per cent don t know what hire purchase means, against 12 per cent last year.

Why is Saving So Important?

2008-08-19T09:45:00.001-07:00

The trick to saving is to make it your number one priority when allocating your cash outflows.

When I first start working with a client on wealth creation, I always start them saving 10% of their income regardless of their current financial position. Invariably, the client has a difficult time with this. Unless they are a "born saver" or were conditioned to saving from an early age, the client views this strategy as either drudgery or, worse, it appears that they have less money for themselves.

The truth is: savings will give you more money in the long run. If you want to become wealthy you must start thinking long-term not short-term. Generally, most people waste more than 10% of their income every week on things they don't really need. By eliminating wastage and extravagance from our lives, we can find that extra 10% to save.

Most of my middle-income clients have been able to trim an easy $50 to $100 per week off their supermarket bill alone by simply ensuring that they only buy what they need and focusing on buying value for money. This does not mean you have to buy inferior products. It means: buy value-for-money. Consumer research organisations have proven that the most expensive products are not necessary the best.

Ultimately you will feel a major sense of accomplishment watching your savings grow. Having savings in the bank provides a strong feeling of security and you will never feel poor. You can finally relax and know that the future is being taken care of.

Some wealth strategies may advocate paying off all your debts first and then start saving later. I disagree. These systems usually put you on a very stringent budget. To me, this is like going on a strict diet. It is too harsh for most people in the long-term and, more often than not, doomed for failure. I prefer to start everyone off by saving 10% of their income. It gets then into a good habit from the start. The 10% savings should always be allocated first. If you make it your number one priority, you are well on the way to conquering your financial problems and becoming wealthy.

A soon as any income is received, 10% should be deposited into a separate savings account that is easy to deposit to, yet difficult to withdraw from. Do not attach this account to your ATM card. This money should be left to accrue over time and then converted into investments. It is not to be used for holidays or buying large purchases such as furniture. A separate savings account can be used for the latter.

I tell my clients with children that the most important thing you can teach your children about money is to save 10%. If you start them young and teach them, in the same way as you teach them to brush their teeth everyday, they will be millionaires by the time they are 30 or 40 years old - maybe even sooner. It is as simple as that. Start them saving as soon as they start receiving pocket money.

Protect Yourself From Bank Fees

2008-08-19T09:44:00.001-07:00

Do you use a checking account? You may be paying too much for the use of a checking account and could be saving bundles by switching or eliminating the use of a bank checking account altogether.

If you want to save money by using a checking account you need to use it wisely. Banks are happy to have you deposit money for short term use, but they plan on making money through fees somehow. What type of fees can you encounter simply by using a checking account?

Personal Finance Problem: ATM fees

Most people have an ATM card where they can retrieve money from their checking account funds any time of day. But did you know when you pull out a mere $20 you could be paying over 5% in fees?

Most bank ATMs will charge you an average of $1.25 for the use of their ATM console. To pull out $20 cash that's a 6.25% fee on your funds. For $40 cash it's still a 3.12% fee that you could put to better use.

At the worse end, if you choose to retrieve funds out of your checking account from an ATM owned by another bank you could be charged up to $3 for that little bit of cash. Ouch!

The Personal Finance Solution

• Don't use ATMs unless you absolutely have to. For the price you pay to access your checking account, it's not worth it.

• Use a bank that does not charge ATM fees. Some banks do not charge an ATM fee as long as you use one of their ATMs. National banks like Bank of America or Wells Fargo who have ATMs in cities all over the country may give you this deal. Take advantage of it.

• Use a debit card. Banks today offer to issue a Debit Card to access your checking account funds. Most retail stores will accept debit cards because the transaction is instantaneous out of your checking account and they get their money fast. The best part? No fees! Use the debit card whenever you can, but be sure to keep tabs on your checking account balance.

Personal Finance Problem: Check printing fees

When you order checks, especially ones with fancy options and decorations, you pay exorbitant fees for the price of printing. For each check you write you could be paying .10 cents to .25 cents per check. That adds up over $6 for the use of a book of checks.

The Personal Finance Solution

Use banks that offer actual "Free" checking with no check printing charges. Or, simply forgo the use of checks and use a debit card for retail purchases and online banking to pay your bills.

Personal Finance Problem: Overdraft fees

This is the big one. Always - ALWAYS - keep your checking account in balance. If you pay by check or by debit card and overdraft more than is in the account, you could be slapped with a hefty fee up to $40. That's just on the bank side. The retail store may have their own overdraft fee on top of your bank's.

The Personal Finance Solution

Use overdraft protection. Most banks will allow you to have overdraft protection with a savings account. But that means you must have money in that savings account! Keep it stocked with enough to get you out of a jam. A $40 fee on a $5 overdraft can really knock you out financial if it occurs over and over.

How to Find a Financial Advisor!

2008-08-19T09:43:00.002-07:00

How to make your choice

We all know by now the types of financial advisors existing today; it's essential to decide which type to go for first. There are financial advisors and independent financial advisors; the first one functions as a part of a firm or a similar financial institution while the other operates like a freelancer. That makes sure one thing; with an independent financial advisor, your options are more. A financial advisor shall thus providefinancial advice- which is correct - but then again, financial advice is a very broad term requiring fine-tuning.

To be precise, financial advices are as many as the number of financial products and strategies available in the market; there also remains a question on their individual suitability. A financial advisor is the one who matches them up and therefore; it's a specialized service that you require for better results.

Let's see what can be achieved from an independent financial advisor. An IFA doesn't hold any contract whereas others remain bound by contracts with financial institutions (e.g. life insurance or mortgage companies) or work directly under the company's payroll. Therefore, why a contract bound/employed financial advisor may suggest going for a financial product sold by the same financial company - maybe that's not meant to suit you completely - an independent financial advisor shall select a plan tailor-made to your needs if all other readily-available financial packages fall short. So now that you've known the difference, it's time to learn how to choose the best.

Questions to ask

The regulatory body of financial services (FSA or Financial Services Authority) has put up certain requirements for any person willing to work as an IFA. This is something you need to enquire about when you are on the process of finding a suitable independent financial advisor; for those working under some financial institution, their credibility can be verified with the employing company. A Certificate in Financial Planning is the bare minimum; if there are advanced qualifications showing, it is all the better. These qualifications are specialization based, for example, an IFA dealing in mortgages must have a Mortgage Advice Qualification (MAQ) or a certification from the Association of the Pensions Management Institute (APMI) and so on. Just remember that the field an IFA is providing his services for must tally with the degrees he/she has earned so far. Ask your questions as you feel, but the abovementioned points must stay included in the answers you receive. And always remember; don't hesitate to take any free quote that's available. It helps to gain some idea on who's more correct to address your needs.

What to expect next

Be prepared to reveal your entire financial history to the chosen financial advisor, from your most silly impulse spending to your long-term financial goals and everything that's influencing your current spending habits. The financial advisor shall then choose for you a package, but it's always better to get it verified from another source.

Financial Advice is Not a One Size Fits All Proposition

2008-08-19T09:43:00.001-07:00

I've been reading on various blogs where people leave comments preaching that everyone should avoid using credit - most recently today over on The Digerati Life and Five Cent Nickel. I have also noticed several titles in the bookstores as well, such as "The Last Book on...You'll Ever Need" or "The Only Book on...You'll Ever have to Read", "The ...% Solution". To be honest, none of it makes any kind of sense. Finances, and therefore financial advice is not like a baseball hat that is "one size fits all". No, it needs to be tailored to fit each person as an individual, and to conform to their individual goals and situations.

Now there are some basic principles that can be used as blanket statements, such as save for an emergency, pay bills when they are due, live within your means, etc. but telling people in general to avoid using credit at all costs, or that they need to save 20% of their net pay is just irresponsible. Along the same lines, it is simply wrong to say that all people just starting out should have a 100% exposure to stocks, while a person already in retirement should switch to a 100% bond portfolio.

Ideally, what should happen is that there should be an interview process in which the person dispensing the advice gets an overall sense of the seeker's situation, regardless of whether it is retirement or college planning, debt reduction, bankruptcy avoidance, etc. finding out what led them to where they are now as well as where they want to be in the future. Then, and only then can someone truly give informed and targeted advice. No two situations are exactly identical, as people have differing levels of need, as well as differing levels of knowledge. It is not as simple as saying "everyone should..." because of these differences and the necessity to recognize and understand the uniqueness of each situation.

Of course, not everyone is a financial advisor, planner, etc. but there is still a need to be responsible when giving advice. One cannot advise others on a certain diet before you discover their religion or any medical conditions related to food that could affect their ability to maintain such a plan. Nor would anyone give driving directions before ascertaining whether or not the recipient is interested in getting to their desired destination in a speedy manner or if would like to make stops at certain points of interest. The same holds true for financial advice. No matter who is dispensing the advice, certain facts need to be reveled in order to get those in need where they would like to be. That cannot be accomplished by making blanket generalizations and incorporating personal beliefs blindly. It simply is not right nor is it in the best interest of the people in need.

Do You Have a Back-up Plan?

2008-08-19T09:42:00.000-07:00

Last week I woke up and strolled over to my home office to find that the screen on my laptop was black. After rebooting, and playing with the connections, I came to realize that the backlight was blown and that it was time to go out and buy a new system. I also realized another important fact: my back-up plan was severely flawed. Of course, since I preach the importance of organization to my clients, al of my documents and files are meticulously arranged on the hard drive, but I had failed to set my programs to automatically back themselves up daily to my external hard drive.

Luckily, my problem was not hardware related, and I was able to move everything to my new system, but the event did make me scrutinize my lack of disaster-preparations. Unfortunately, I have seen this many times with others, and I am sure that I will continue to hear horror stories so I figured it would be wise to outline my new plan in order to perhaps help others avoid such issues in the future.

I always keep digital records of everything, in part to avoid the clutter that papers create, but also in order to be able to find things more easily. I sign up for electronic delivery of all bank, brokerage, and credit card communications, and each institution has its own folder. Anything that is not delivered electronically gets manually scanned and archived.

Each program I use, whether it be for personal or client finances now gets backed up upon exit, automatically, with the last 5 back-ups being retained. Almost all programs create default files containing the name of the file with the date for easy recognition. Each day I get an e-mail of my blog and website databases which get stored as well.

At the end of the day, I transfer the entire contents of my partition containing all of this information not only to an external hard drive (which automatically overwrites the previous data), but also to a DVD-RW. At the end of each month, the RW is copied to a DVD-R and moved to an off-site location, and the RW gets erased and prepared for the next month. This is an important step since just like in finances, you should never keep all of your eggs in one basket: having multiple back-up solutions ensures that should one fail, there is always a back-up to your back-up!

I have also been tinkering with the idea of using an online storage system as well, in order to take advantage of the ease of delivery and retrieval. However, since I am responsible for other people's I am making very certain to do my due diligence so that I can find the most secure and reliable source for these services.

All in all, the migration to a new system can be quite tedious even with having everything you need to do so, but the migration isn't the worst of your worries should disaster strike. Not having a back-up plan can wreak havoc on you mentally when you come to realize that all of your important documents and information are gone. The simplest way to avoid this agony: back-up your information often, and on several different types of media, keeping at least one copy off-site in case of emergency.

Learn Foreign Currency Trading Online - Best Forex Book

2008-08-17T22:08:00.003-07:00

Looking to learn, looking to earn and struggling to get started? The biggest problem with the internet is that there can be too much information. Analysis paralysis leads to failure. If you're looking to learn foreign currency trading online why not check out the 10 Minute Forex Wealth Builder? It is the best forex book on trading I have.

What's the big fuss?

If you've been busy bookmarking websites, blogs and forums you'll know that there is a lot to take in. How involved do you really want to get with foreign currency trading and how much time, money and energy do you have once the working day is over? Let's face it. Success has a price but it doesn't have to be a high.

The best forex book, the 10MFWB can be downloaded immediately, you can start learning straight away and you can apply it today. There is no analysis paralysis because you just have to read and apply. Stay focused and take action.

The reason so many people fail with foreign currency trading is that they get blown away by the detail. Bollinger bands, moving averages, SMA, EMA, MACD, double tops... You start with the best intentions, the dedication. Then one hour becomes two becomes an evening becomes everyday after work. You're learning but not earning.

To succeed you need to learn foreign currency trading online that you can apply quick smart. A strategy that gets you off to a running start, makes you money (bag those fx pips) and build your confidence. Then you can start to scale it up.

Sounds a bit 'Get Rich Quick'

You're right it sounds get rich quick and that's a phrase that really means 'waste a lot of time trying and give up'. This course isn't one of them (it's been around too long for a start). The 10MFWB, my best forex book, is packed with technical analysis help that lets you apply the best forex indicators.

The key to its success is picking the winners, if there isn't a winner you don't trade. It is as simple as that. You spend 10 minutes each day checking your forex graphs to identify the foreign currency trading signals that mean a high probability of profit. Too many systems rely on throwing 'mud at a wall' and hoping some sticks. Not this one.

How does it do this?

The 10MFWB uses forex breakouts and swing trading strategies. The course will take you through forex graphs and when to open or close your trade. Analyzing forex candlesticks, a forex breakout occurs when the price passes through a level of support or resistance. Don't worry too much, the course will show you all you need to learn foreign currency trading online.

The swing trading strategy is perfect of those starting out at forex without the time (or simple not interested) in sitting in front of a screen all day, every day. There are 4 types of foreign currency trader. Scalpers who trade for seconds, day traders who open and close their trades in one session. Swing traders leave a trade open for days and then position traders, the long term traders, who open a trade for weeks. Using swing trading you have the perfect balance, it is realistic for those short on time and with out the border (or necessary patience) of a position trader.

In my humble opinion the 10 Minute Wealth Builder is the best forex book out there. If you really want to learn foreign currency trading online check it out at 10 Minute Forex Wealth Builder Features. You can find out about the benefits of using this fantastic system.

If you're reading this you like to research or try before you buy. Read the real comments on the course HERE.

Here's to fx pips with 10 Minute trading!

Article Source: http://EzineArticles.com/?expert=John_Hurt

Review of How to Beat the Credit Crunch by Toby Hone of Taxcafe

2008-08-17T22:08:00.002-07:00

I placed my property on the market recently so I have had first hand experience of just how difficult the property market is , at least if you are trying to sell. Fortunately we didn't really have to sell . We were interested in one particular house which had become available. Unfortunately we didn't get it and like many others have decided we'll spend money on our own house and make it more like the one we were interested in.

"How to beat the credit crunch" similarly relies on first hand experience. It is written by Toby Hone, a professional property investor. Toby has been in the business for over 10 years and it seems he is the real deal. This is only to be expected from the Taxcafe stable as they have established an excellent online brand attracting quality tax authors.

The title of the book is obviously topical and has been cleverly chosen for maximum exposure at this time. If marketing wasn't a factor it could easily have been given any number of titles as in essence it is a how to book. All businesses to maximise profits need to find ways of increasing sales and reducing expenses. This book explores ways in which to achieve this, for instance the author details 18 practical ways to slash property expenses. However, it does do somewhat more than this. Every man and his dog seem to be saying that one of the major problems with the property market is lack of access to funds. The credit crunch is just that. The banks are much more reluctant to lend even to the very credit worthy it sometimes seems.The book deals with ways to overcome the mortgage drought and not only this but how to find the best deals where available.

One of the things that I truly like about this book is that it is not 100 per cent focused on the UK property market. Take it from me that as a UK professional tax adviser marketing online can be a massively frustrating experience. UK tax is specialist to the UK . It doesn't apply to anyone other than the people on this tiny ( but wonderful nevertheless) island. This means that my presence on the web is relevant for a minute fraction of the worldwide web audience. Thank you therefore Tony for including an analysis of the outlook for the UK property market and a comparison with the US market.

It's impossible to go through all the topics covered. I would have to rewrite the book. What I can say is this book is certainly not for everyone. It's not the solution to the credit crunch, the world and everything.It is specifically aimed at property investors and landlords who are looking at ways to survive and make money during the credit crunch. If you do not fall into any of these categories this book is not for you.

I know that my recent experience in the property market although not disastrous was not a happy one. It may have been more pleasant if I had read this book at the time.

For a more in depth look at the contents of the book and to get a cool free tax saving report go to my blog http://www.taxadvicepro.co.uk/blog/?p=8

Paul is a UK qualified chartered accountant, and business consultant, working in tax consulting, and an internet marketer. Reprint Rights: You may reprint this article as long as you leave this resource box intact and leave all of the links active, do not edit the article in any way.

Article Source: http://EzineArticles.com/?expert=Paul_Guilfoyle

How to Have More Than Enough by David Ramsey - A Book Review

2008-08-17T22:08:00.001-07:00

Dave Ramsey is a financial guru, and my favorite book is his "How to Have More than Enough: A Step-by-Step Guide to Creating Abundance".

More than a budgeting book and how to cut costs guide (and this book does include both), it outlines his "baby steps".

Step 1: set up an emergency fund for true emergencies. And he explains what real emergencies are (medical, car repairs, etc).

Step 2: debt snowball, and ways to find money for it.

Step 3: 3-6 months of emergency savings. This is what you live off of if you lose a job, get downgraded at work, etc.

The next savings for retirement, house, college, are all prioritized.

I enjoy this book because it talks about not just how to plan your finances, like paying off debt comes before retirement savings, and you say no to kids college before you have credit card bills, but do save for college before you pay off the house early. He even details how to get back on track if an emergency comes up, and more debt result - like a surprise surgery and you've used up the emergency fund AND savings.

The changes he details to get the mindset in order - how to not just tighten the belt but be able to live and even thrive living on less than you make, are key here. It's not just clenching teeth for a few months or a year to pay off those debts. It's changes in lifestyle, too, so you never get into debt (except a house mortgage) again. And then it's how to live and prosper later, when you can afford the toys (when you can save up and pay cash for them) later.

Live like no one else so that later you can live like no one else. And you're allowed to say "No" to the kids demands for toys, to all the "please give me another loan" and "but I really need you to do this" while you get your own life in order.

How to Have More Than Enough is a financial planning book that almost anybody could relate to and apply for a more pleasant financial well being.

Gordon Kaye is an avid reader who loves nothing more than to put on a pair of comfortable reading glasses and sitting down with a great book. He hopes to share his great literary finds with you. http://www.EasyReadingGlasses.com

Article Source: http://EzineArticles.com/?expert=Gordon_Kaye

Unsecured Personal Loan - Free From Collateral

2008-08-12T09:15:00.004-07:00

Unsecured personal loan is non-collateral-backed money provision. Initially, it evades you from bothering and time-consuming effort of arranging asset for security to lender. And then the personal loan makes possible for a large group of potential borrowers to raise funds easily. For they meet their any range of personal demands feasibly.

Basically, the personal loan provision has been made unsecured to meet the demands of the people who are unable to put collateral. As a result of this, borrower like tenants, non-homeowners, graduates, retired, unemployed, self-employed, and homeowners also, can make applications for the personal loans now.

However, to make it a secured funding, the lenders usually take a look at your repayment capacity and regular source of income. If you do have even a regular source of income, your good credit can do a great work for you. A good credit status implies perfect financial record of the past. Based on these criteria, the loan amount is released.

You can hold of the fund anywhere from £1,000 to £25,000. This amount you can invest on any range of your personal purposes. You can dispense the raised funds on paying of your long-awaited holiday tour, children's tuition fees, car buying, paying off your multiple debts, and so on. After all that, you have to repay the loan amount well on the due date. Nevertheless, you are given a time span of 10 years maximally for that purpose. Though, you can make the loan payment in flexible manner also.

Rate of interest on unsecured personal loan is comparative it is due to risk factor for lenders. The lender incur high rate in order to compensate his risk. But you can shop around for a suitable deal also.

A number of lenders are out there in the money market for unsecured personal loan. You can tame them even online. Online application is preferred, as it fast processing tool. Along the side, it puts way to compare different quotes together to cull out the best possible one.

Fast Bad Credit Personal Loan - Things You Need to Know to Stay Out of Trouble

2008-08-12T09:15:00.003-07:00

Have bad credit history but need a personal loan fast to settle some unexpected expenses? No problem, there are companies that don't discriminate against bad credit; many issue personal loans even if you have experienced bankruptcy or foreclosure. Don't let a damaged credit history prevent you from getting the loans you need.

Debt is a large part of our economic system. Even the government has debt. Do you know that our National Debt is over $9 trillion? Don't believe? You can google the phrase "US national debt" and check it out yourself. Of course, it's not the attention of this article to encourage you to have more debt. Debt is a bad thing; no matter what the amount is. Sometimes, however, we need to borrow money for a short period of time to settle emergency expenses.

This article is to inform you that there are companies that can help you get your personal loan almost instantly (normally within 1 business day) as long as you have a steady job, with earnings of at least $1000 or more per month and an active checking account.

While it's possible to get a personal loan even if you have a bad credit history, there are some important things you need to know before you apply one; some basic knowledge can help you stay out of trouble. So read on...

Interest rates can vary from different companies. So make sure you shop around and do some comparisons. You certainly want to look for one that can provide the lowest interest rate.

Pay your loan on time. Quick personal loan such as payday loan or cash advance is a short term loan; usually last for 2 weeks and for small amount usually $1,000 or $2,000. As mentioned, this type of loan is for emergencies. Make certain you can pay off the loan on time; never extend your loan because the lender will charge you unreasonable high interest if you do. There are people who got charged 300% interest after they extended the loans several times.

You may wonder how come the lender can charge such a high interest? This is because there is no regulation on how much interest the lender can charge in personal loans. These types of loans are unsecured loans; there is no collateral. If you default, the lender will take you to court; they can't foreclose or repossess any of your asset.

Make sure you have a steady job and earn enough income to cover your loan. If you're jobless, then it's a bad idea to apply for personal loan as this will not help you solve your financial problem; it will get you into more problems instead. If you're jobless, try to look and apply for a job first; not loan. If you really need a loan before you've a job, try to borrow it from your family or closed friends.

Secured Personal Loan Finance - Smart Way to Contain Your Demands

2008-08-12T09:15:00.001-07:00

The rising expenses along with the soaring inflation have made it quite tough for a person to lead a normal life fee from hassles. After all, how much one can depend on a fixed income to sustain the rising demands? Invariably, these individuals have to look for other option such as loan. Coming to loan financing, a borrower can easily derive it as per the need and requirement. Among all the available options, secured personal loan financing is considered to be the best as it enables the borrower to avail a bigger amount at comparatively low rates. With the derived funds, one can easily execute the various needs in a convenient manner.

As compared to other loan provisions, secured loan offers a bigger amount with flexible terms and conditions. To acquire the finance under the loan, one has to offer any asset containing substantial equity value as collateral. As per the equity present in the collateral, the amount is advanced. Usually, the loan amount approved is in the range of £5000-£75000, which can be further extended up to £100,000. The repayment term too is elongated and spans over a period of 5- 30 years. This implies that your monthly payments towards paying of the loans will be comparatively low.

Another remarkable feature of this loan is that of its low interest rate. Since the loan is secured against an asset, there is no risk on the lender. This is why lenders too advance the finance with very cheap rates of interest.

Individuals with a history of bad credit such as CCJs, IVA, arrears, defaults too can avail the finance. However the interest rate levied will be slightly higher. But on ensuring timely repayment of the amount, the borrowers have a chance to restore and rebuild their credit profile.

As per the need and convenience, you can source the finance from lenders based on the traditional market such as banks and financial institutions as well as online lenders. Applying online saves you a considerable amount of time and effort. The approval comes fast and a proper research will help you select a low rate deal.

Secured personal loan finance presents an opportunity by offering feasible finances, which in turn enables you to deal with your various needs in a suitable manner.

Low Rate Personal Loan Leads to High Rate Happiness

2008-08-12T09:14:00.001-07:00

At the time of searching for a loan to buy home / car or financing for your new business, you will find loans now in an easier manner. After the liberalization of Indian economy, there a number of providers for Personal Loans, Home loan or any other types of finances. That makes the whole process more confusing. Deciding the lender and availing loans at lower rate are the two most important steps before taking a loan. As Indian loan market is in its transition state, lenders vary in the nature of their business up to a significant extent. This difference necessitate the need do a thorough research about different loan options and different lenders, repayment period, rate of interest etc.

Generally interest rates associated with personal loans can be fixed or floating in type. A fixed interest rate by the name it suggests does not vary according to the fluctuations of the money market during the loan tenure. A floating interest rate on the other hand is the rate updated by the lender depending upon the ongoing market trends. A floating interest rate can go up or down depending on the demand and supply of money in the money market. In Indian loans market, there are lenders who offer the option to take the loan which is split between fixed and floating interest rates. This combination paves the way for low interest personal loan.

Low interest personal loans offers instant cash at an affordable rate and is a useful finance option for travel, wedding expenses, home renovation, down payments, medical expenses, education and investments. You can also use the loan amount to transfer your outstanding credit card balance or pay off an existing loan and benefit from lower interest rates. These loans can be secured or unsecured. As a thumb rule, the secured category is the low rate personal loan as the security pledged by the borrower acts as a negative catalyst for the payable rate of interest.

The second thumb rule to avail the low rate personal loan is comparison. It is evident that more choice leads to better rates. The loan applicant should talk to multiple banks for his loan requirement to make sure his pay affordable EMIs with the lowest interest rate. Once the loan applicant identifies the need for taking a loan, he will have a rough idea regarding the loan amount. The next step what the loan applicant needs to do is checking his eligibility for taking loans. Lenders have their own criteria for determining the loan eligibility of an individual and this is highly variable concept. For salaried persons, the amount of loan is generally a multiple of their gross monthly income. For businessmen, it is a multiple of total annual income.

Having the loan amount and the possible interest rate in your mind, the next thing is to plan the repayment period of the low interest personal loan. The EMI ( Equated Monthly installments ) will be low for a loan borrowed for a longer tenure. Usually the procedure of approval of personal loans are fast and a loan is approved with simple documentation. The major advantages of personal loans are Speedy Approval, flexibility to choose your loan amount ranging from 10000 to 10,00,000, longer repayment period from 12 to 48 as per your interest.

The documentation process of these loans vary from borrower to borrower. In case of salaried persons there is relatively lesser documentation. For Self Employed Persons and Professional ( Doctors / Lawyers / Engineers / Architects ), except for the salary statements documents like tax return documents, Balance Sheet / Profit Loss Statement of the firm he owns may be required at the time of loan application. Other than the normal interest on the loan, you may be charged a one time processing fee by the lender for your low interest Personal loan.

Personal Finance - An Important Financial Figure

2008-08-11T22:08:00.000-07:00

Among the chaotic people personal finance keeps an important figure. It is the need to meet ends that leads you to loan provisioning. An entity whose income is less than its expenditure raises capital by borrowing or financing. If you are such a potential borrower, a financial intermediary such as traditional bank, credit union, building society, and even high street lenders can work for you.

You apply for personal finance in a tough spot when caught between sharply slowing growth in a rising inflation. To soothe your grueling situation, personal finance comes in secured as well as unsecured forms. Secured loans are collateral-backed money provisions. With that you are able to get fund depends on the equity value of your asset. For that reason only, amount of the finance varies dramatically. However, there will be no problem at all receiving funds in between £3,000 to £75,000 over a period of 25 years. Whereas, if you are a tenant and unable to manage collateral, unsecured loans can do a great work for you. Fund is released simply after checking your repayment capacity. In due course, lenders do not bother taking much headache evaluating your property. As a result of that you will able to secure fund in no time. You obtain funds up to £25,000 instant for 10 years without much hassle.

Even, rate of interest for personal finance depends upon various factors. These factors are mode of loan option, your employment status, bank statement, etc. so, you do not worry much about costly funding.

Above all, for personal finance, lending tempers flared with the surging numbers of numerous lenders for the same personal finance. You can find these lending options even online. Online is a simple and convenient way of loan obtaining. It saves your time and energy. By comparing different options, you can cull out the best possible one easily.

George Bell has been associated with Finance Personal. Having completed his Masters in Finance from Lancaster University Management School, To find Personal Finance, personal loan, personal cash loan, finance personal visit http://www.finance-personal.net/

Article Source: http://EzineArticles.com/?expert=George_Bell

Ten Basic Rules of Money Management

2008-08-11T22:07:00.001-07:00

1. PLAN- Plan for the future, major purchases and periodic expenses.

2. SET FINANCIAL GOALS- Determine short, mid and long range financial goals.

3. SAVE- Save for periodic expenses, such as a car and home maintenance. Save 5%-10% of your net income. Accumulate 3 to 6 months salary in an emergency fund.

4. KNOW YOUR FINANCIAL SITUATION- Determine monthly living expenses, periodic expenses and monthly debt payments. Compare outgo to monthly net income. Be aware of your total indebtedness.

5. DEVELOP A REALISTIC BUDGET- Follow your budget as closely as possible. Evaluate your budget. Compare actual expenses to planned expenses.

6. KEEP A RECORD OF DAILY EXPENDITURES- Be aware of where your money is going. Use a spending diary to assist you in identifying where adjustments need to be made.

7. DISTINGUISHING THE DIFFERENCE BETWEEN WANTS AND NEEDS- Take care of your needs first. Money should be spent for wants only after needs have been met.

8. DON'T ALLOW EXPENSES TO EXCEED INCOME- Avoid paying only the minimum on your charge cards. Don't charge more every month than you are paying to your creditors.

9. USE CREDIT WISELY- Use credit for safety, convenience and planned purchases. Determine the amount that you can comfortably afford to purchase on credit. Don't allow your credit payments to exceed 20% of your net income. Avoid borrowing from one creditor to pay another.

10. PAY YOUR BILLS ON TIME- Maintain a good credit rating. If you are unable to pay your bills as agreed, contact your creditors and explain the situation. Contact Springboard Non-Profit Consumer Credit Management for professional credit debt advice, and inquire about our credit counseling service

Springboard is a non-profit credit counseling and financial education organization founded in 1974.

Jeff Michael
Author of "Repair Your Credit and Knock Out Your Debt"

Article Source: http://EzineArticles.com/?expert=Jeff_Michael

Now Withdraw and Deposit Money Without Worrying About the Balance

2008-08-11T22:07:00.000-07:00

Banking services in India have undergone a remarkable change from the time when India became an Independent union of states. The credit of this change goes to the governments policies. It is because each government in India laid major impetus on the concept of banking in India. Due to these all consistent and serious efforts, Banking played an important role in the welfare of the entire economy. Also due to these ground breaking policies, the role of national banks also strengthened. Not only that various international banks and the private sector made their way into the market of India. It is only because of this that today both the nationalised and the private sector banks are playing a vital role in the Indian economy.

One of the most important functional aspect of banking field is the current bank account. Current bank accounts are specially meant for the likes of business men, top industrialists and the entrepreneurs. These are the special kinds of bank accounts where there is no limit on the number of transactions. Hence, any person who own this type of account can deposit as well as withdraw the money for any number of time. But in return of this extraordinary facility, the account holder will have to pay a certain amount to the banking authorities. This account works on the lines of the normal account. the only thing that is unique about these account is that since this account is meant for withdrawing money at a very short notice, therefore it also presents the feature of over drawing the amount. Yes, but on this overdrawn amount, the account holder will have to pay a certain rate of interest that is determined by the bank authorities, due to which it may vary from bank to bank.

However, till few years back the current account interest rate used to be on the higher side, but as the intensity of competition among the private as well as the nationalised banks attained new heights, it is the customer that was on the receiving end of all kinds of benefits. Also owing to the competition the current account interest rate have dipped to a very low level. There are various banks in India that are offering current accounts interest rate at a very reasonable level. Which is why more and more corporate people are now opting for it.

On the other hand saving accounts in banks, are the most trusted and the most reliable version that is being used by the Indian people for past many years. Saving accounts are the accounts in which people invest their hard earned money. It is the most effective means of investing the money. It is because the bank authorities charge a certain rate of interest on the deposited money. Thus it is quite a safe technique of increasing the bank balance. It is because this method does not involves any kind of risk of any form. The rate of interest on these saving account offered by various nationalised banks as well as private sector banks are very reasonable. These reasonable rate of interest ensure the account holders of considerable returns on the amount deposited.

Thus current account interest rate that are now being offered by various banks are not only reasonable but also at the same time are proving as a helping hand to most of the businessmen. On the other hand saving accounts are still the most trusted version of investing money that is being used by the most people in India.

About The Author: For more information about high interest rate savings account and current account interest rates. Please visit our website: http://www.paisawaisa.com/

Article Source: http://EzineArticles.com/?expert=Addi_Vardhaman

How to Give to Charity Without Spending a Penny

2008-08-09T07:03:00.000-07:00

Have you always wanted to make a donation to charity but worried that you really could not afford to due to your own outgoings and the credit crunch? This article aims to show you ways in which you can give back and be charitable without hurting your own bank balance.

Clicking on sites to make a donation

There are several websites that have been created where you can visit and click on a link. This link represents a donation to that particular charity. The charity receives the money from sponsorships that they have in place. They have agreements with their sponsors who have agreed to donate a certain amount of money for every click that is received from the site. Now you can simply do your part by clicking on the links in order to generate the donation. Companies choose to do this for several reasons. One is because they will get people who are surfing the internet to see their advert or logo for their company and it is also their way of giving back.

Getting a charity card credit card

There are many credit card companies that work with charitable organisations and have produced a charity credit card. An example would be Cancer Research. As the cardholder you will use your credit card in exactly the same way as a normal card. Every time you make a purchase you receive a cashback reward. The credit card company donates this reward to Cancer Research (or whichever charity they are affiliated with). So you are able to make a donation without hurting your bank balance. You could even see this as guilt free shopping for yourself.

Donate your old phone to charity

Most people own a mobile phone today and due to the advances in technology, we are constantly offered upgrades. This means that there are a lot of old phones in cupboards and on shelves gathering dust. But now you can donate these old phones to charity. The phones are refurbished by the charity and then sold to other countries and the generated revenue is used to carry out the good work of the charity. Again this is a way of giving without spending a cent.

Take part in a charity run

Another way of giving back is to take part in an organised charity run. Several charitable institutions hold these events throughout the year. These events can range from a gentle stroll involving the whole family to a full on competitive marathon. All you need to do is gather together a few sponsors. The amount you raise can be a little or as much as you are able to collect as charities are very grateful for everything that they receive.

To find out what charities run these events simply enter the phrase running for charity in your search engine.

So now you know that you can indeed make a charitable contribution and make a difference without hurting your own bank balance. Do some clicking on the internet, get a charity credit card, donate our old mobile phone or take part in a charity run. Whatever you choose, know that you are making a difference.

How to Beat the UK Cost of Living Crisis

2008-08-09T07:02:00.002-07:00

Many people in the UK are experiencing the biggest hike in fuel and food prices for decades, and all signs indicate that it's going to get much worse.

As a global recession menacingly looms on the horizon, we in the UK can expect to pay higher prices for consumable goods right across the board, together with a further slump in property values. On a brighter note, luxury goods like digital TVs are actually falling in price due to a decrease in demand.

However, the real worries are the forever upward spiralling costs of food, domestic gas, electricity and petrol. All of which have dramatically increased in price over the last 12 months.

Despite obscene profits, the companies who supply the general public with power and petrol continue to lay blame on so-say production and sourcing costs, citing these as the real causes for the dilemma. Despite this, many people now feel that these are nothing more than excuses in a feeble effort to obscure their sheer greed.

In these circumstances the public are completely powerless, and much like the battered motorist, we as fuel consumers are easy prey.

Now, all this price hiking and public fleecing is bad enough but when you take into account the derisory pay rises, which many public sector workers have been offered recently, you have before you an unhealthy recipe for civil unrest. But, although many people will speak out openly about these blatant injustices, many will just grin and bear it. It's the British way.

Well it all sounds like doom and gloom, and for many it is. But it doesn't have to be that way. All anyone needs to overcome all this misery is an extra income. And there's never been a better time to look at all the opportunities, especially those on the Internet.

Anyone with a computer, an Internet connection and a few hours to spare can earn an additional income from doing simple data entry work or participating in online surveys. There are also much more profitable sidelines like auctions, affiliate programs and setting up an online business.

All these income boosters can be operated from home, so there is no financial outlay other than a small initial investment in the information needed to get started. They can be operated on a part-time basis or full-time basis depending on the individual and the time they have to spare.

We all know there's no such thing as a "quick fix" or "get-rich-quick" system. However, these little income opportunities offer a way to help keep on top of those regular bills and see off some of those debts. And for those reasons only, at a time like this, it's worth taking a closer look at what's on offer.

5 Tips For a College Student's Budget

2008-08-09T07:02:00.001-07:00

When you're in college, it's easy to get caught up in a busy lifestyle. With all of the studying, part-time jobs, hanging out with friends, and extra activities, it's easy to forget about a very important aspect of your life - your finances. Read on and discover some proven tips for a college student's budget.

1. Plan ahead. Figure out where your cash flow is coming from. Make a list of your income from parents, your student loan, or your part-time job. Then figure out what your monthly expenses will be. Include expenses for food, books, and other activities. Make sure that you have enough income to meet your expected expenses. Also, allow a little extra for emergencies. Once you have a budget, be disciplined and stick to it.

2. Save on food. When you were living with your parents, this is one expense that you didn't have to worry about. But in college, it will be one area that you'll need to watch. Be sure to use your food allowance and avoid eating out at fast food places, as this will most likely to ruin your budget. Pack your lunch and plan meals as much as possible.

3. Take full advantage of student discounts. Use your student ID's and memberships in organizations to get discounts in several establishments. Discounts can really add up over time.

4. Use cash as much as possible. If you already have money on your Student ID card, use it first. Avoid using your debit card when you have cash with you. Use your credit cards only in emergencies. More colleges students are leaving school with high credit card debt that will take years to pay off due to careless spending habits.

5. Keep yourself busy. Be sure to join clubs in your field of interest. Keeping busy will help you stay away from things that you spend money on when you get bored. You will be surprised at the amount of money you will save by spending less on items you don't need and following your student budget.

Remittances to Nepal

2008-08-09T07:01:00.000-07:00

Remittances in developing countries have become an important part of economic development. In some countries, they are considered a lifeline for the economy. This source of foreign income has been rapidly growing each year. Migrants have been transferring money for years in Nepal often times through unofficial channels. Today with the many different options available, the flow of remittances has seen a steady upward incline. It is believed that in 2005, unrecorded remittances accounted for 50 percent of transfers to Nepal.

Formal remittances between the agents are monitored periodically in Nepal. Informal remittances are often settled through goods trading. This barter method of transferring money makes it convenient and eliminates the fees charged by the sending and receiving agents. It is difficult to determine the actual number of remittance transactions done in this barter method since most do not keep accurate or any records of the transactions.

How do remittances help?

Remittances provide direct aid to families from the migrants who send them. Families are able to increase their standard of living and, for some families, this may be their only means of support. Remittances may also be used to provide loans to individuals or fund businesses.

Minimizing the transaction costs would put more money in the households of the recipients, and into the economy. The cost of remittance service does not depend on the amount being sent. Often times it includes labor charges, house rent, technology network charges, etc. The underground or unofficial agents can charge whatever they like.

There has been greater competition among the banks and money transfer operators (MTOs), which is bringing down the cost of a transaction. Because of the increased competition, the unofficial agents have been forced to lower their rates in order to stay competitive.

Diminishing export markets and difficult economic situations have labeled Nepal one of the poorest countries in South Asia, but between 1995 and 2004, poverty declined from 42 to 31 percent. This is mainly because of increased work migration resulting in increased remittances. In fact, the proportion of households receiving remittances has increased from 24 percent in 1995 to 32 percent in 2004. Remittances have grown at 30% per year from 3 percent in 1995 to 15% in 2004. Official statistics show that $1 billion dollars comes into Nepal from remittances each year and this does not include remittances sent using unofficial agents.

Be a Smart Shopper Using the Latest Financial Offerings - The Credit Cards

2008-08-09T07:00:00.000-07:00

Credit cards are given once an account has been approved by the credit provider, after which cardholders can use it to make purchases at shops accepting that card. When a purchase is made, the credit card user agrees to pay back the issuer. The person having credit card shows his will to pay by signing a receipt with a record of the card details and indicating the sum to be paid or by entering a personal identification number (PIN). Also, many merchants now accept verbal authorizations via telephone and electronic authorization using the internet, known as a 'Card/Card holder Not Present' (CNP) transaction. Electronic checking mechanism permits the vendors to check if the card is valid and the credit card customer has enough credit to cover the purchase in a few seconds, permitting the check to happen at time of purchase. Data from the card is obtained from a magnetic stripe which is called PIN, and more technically is an EMV card. Other types of verification systems are used by e-Commerce merchants to determine if the user's account is valid and able to accept the charge.

It involves the cardholders providing additional information, such as the security code printed at the back of the card, or the address of the cardholders. Credit card issuers usually exempt interest charges if the balance is paid in full every month, but normally it charges full interest on the entire outstanding balance since the date of each purchase if the entire sum is not paid.

The credit card interest rates have different types of interest rates starting from 7 to 35% depending largely upon the bank's risk evaluation methods and the borrower's credit background. Europe has much higher interest rates, about 50% over that of most developing nations, which average about 200%. In Brazil bank-issued Visa or Master card to a new account holder can have annual interest as high as 240% even though inflation seems under control at around 6% per annum.

RBI has made life convenient for credit card users. It has come up with a host of criteria for financial institutions and other companies that manufacture cards. The new instruction says that banks should not charge excessive credit card interest rates and must define a rate of interest. RBI also wants banks to have a system to provide credit card customers their monthly statement.

Financial institutions are warned against sending statements after a gap of a few years and demanding payments. RBI has slammed the practice of issuing unsolicited credit cards and has regulated stringent penalties on banks indulging in any mal-practices.

Let us take a look at the best credit cards in India which differ from bank to bank and some of them are visa card,master card, domestic, international, gold credit card, classic credit card,platinum credit card, sterling silver card etc. Many people feel that ICICI has the best credit cards with range of Signature Credit Card, Ascent American, Express card and ICICI bank Titanium Credit Card.

Thus it is clear that credit cards are the latest fashion tools in the word of finance and economics. Their arrival has infused a new spirit in the otherwise boring areas of retailing and shopping. Their arrival has facilitated the business to a very large extent.

Treat Yourself to Sorting Out the Money Thing

2008-08-08T08:11:00.001-07:00

Financial abundance is our birthright and we can claim it.

It is never too late to change the way you think about or manage money, particularly if the way you think about it no longer serves you.

For many people, it is not so much how much money is earned, but instead what is done with it, how it is used, spent or saved in some way. It may be that you're a professional and earn way above the national average and yet you still have more month than money. Or it may be that you've worked in a manual/unskilled/semi-skilled position earning around the national average and it may even be that you have another job to supplement your main income - you may own properties in the country you live, and own rental properties in other countries and have a sizeable amount of savings.

It is a question of psychology. How do you think about money? Is your money working for you? Or are you working for your money? That is, is your money earning you money even whilst you sleep or are you earning your money and allowing it to frit away? Our thought processes around money is often determined by the emotional baggage we associate with it, usually from our childhood.
Certainly in my family we grew up never really having much. It seemed as though we just had enough to pay the rent, eat three reasonable meals a day, and pay the bills and not too much more to do much else. Buying clothes, certainly up to date clothes were pretty much off the agenda, much of the time.

I was told about the importance of saving. My mum was particularly insistent about this and I did save for a while, money that family and friends would give me.

My relationship with money has been quite fickle. I have earned a reasonable amount of money and it feels as though I have squandered a lot too. Do not get me wrong - I enjoyed what I was doing when I was doing it - going on holidays, buying clothes, buying property etc. What I did not do though was pace myself. I was speaking to a friend recently and communicated to him that over the last five/six years I have been close to bankruptcy at least four times. I was always living on overdrafts, always maxing on my credit cards, managing my bank account inappropriately and so having items returned unpaid and incurring bank charges.

The pain associated with those times was so great that I made a decision to think differently around money. Yes, it is been an ongoing process of fits and starts and I am seriously focussed and on my journey now. Each time I make money I pay something to myself as well as paying off debts and bills.

I love paying my debts as much as I love paying myself. As far as possible, it's important to be clear of debts. I have a different relationship with money. I have much more respect for money now. I know how it can serve me and beyond me - my community and charities generally. How I use the money I make is now very important to me, otherwise I may just as well stand on the street corner and devalue the money by ripping it to shreds - because in effect this is precisely what I have been doing - ripping it to shreds and throwing it away.

The best person to take control of your money is you. Of course you will take good professional advice, giving up complete control though, to the 'professionals' is not overly wise. You will want to get regular feedback on how your savings/investments are doing (if you have any). Get curious, stay interested, make decisions - take back the control.

I remember as a child I use to dread going back to school after the Christmas holiday - absolutely dread it. Why? Because I knew that I would have to lie about the presents I got. Certainly at the time I thought it was a `had to' lie. Friends around me were getting what seemed to me to be multiple presents of money, clothes and toys etc. etc. I cannot quite remember the gifts that I did get, but I do remember that they were small and yes what my parents could afford and certainly I was grateful for them because I knew that it took a lot to make sure that we did all get something. And yet I felt the `pressure' of having to fabricate all the things that I did not get. Reflecting on it now, I wonder if others did the same.

The great thing now looking back on those times is that I did get presents and I'm sure that many other children did not, though, as a young person, this was not what was going through my mind at the time. My thing was what lies could I make up about the presents I got? The lie, to some extent, related to who I was talking to at the time. It seems really elaborate now thinking about it, though didn't at the time, I did have to keep track of what I said to whom.

I grew up knowing that my parents always did their best and particularly my mother, she is a very selfless person. She never provided for herself without first providing for us.

Other memories about what I considered to be lack centred on school holidays, particularly going back to school after the summer holidays. Friends would be talking about what they did in the summer holidays - going away to stay with relatives and friends, going off to the seaside. We never did any of this in my family. The impact in relation to my adult life and how I have thought about money is that money it is there to be spent and I will get anything I want. Holidays, clothes, household goods, etc, etc, you name it; if I wanted it, I would get it. Instant gratification. Deferred gratification just was not in my vocabulary. I had no idea what that meant, and saving for a rainy day were words without meaning.

Strategically thinking about and planning in relation to money was not even a consideration. It was a case of making up for in adulthood what I couldn't and did not get as a child. These were my learned responses to money. Took me a very long time to fully appreciate that my thinking around money and use of it was actually counter-productive to my well-being. Maxing on credit cards, getting bank loans, defaulting on bills did absolutely no good to my credit rating.

I remember when I was first told that I was not credit worthy. It felt like a real attack on my identity. I went to a place of defensiveness. Not worthy?! What do they mean? They do not know me. Not credit worthy - I felt really indignant and yet looking back on it, I realise that it was a real wake up call for me. Still did not stop the indignation though. How dare they make judgements and assumptions about me?

Not worthy or even capable of managing my own finances, the evidence was there for all to see. I was completely blinkered to the glaringly obvious evidence. I went into complete denial and continued to spend more than I earned happily - oblivious to the mess that I was creating for myself. Being turned down for credit cards, bank loans. The impact often times going beyond my knowing.

We all carry baggage. Some positive, some negative. I wonder what yours is.

What are your dreams and desires?

What do you wish to achieve around money?

What are your yearly goals - or at least your goals for this year?

What plans will you set in place to achieve your financial goals?

These will be different for everyone. What's important is that you feel at one with your achievement of your goals. They are your goals. You wish to achieve them. It would be worthwhile to set out for yourself why you wish to achieve your financial goals. How will they benefit you and others? If you can arrive at a reason why your financial goals are important to you, it is much more likely that you will achieve them.

Rising Inflation Causing Problems For Many

2008-08-08T08:10:00.000-07:00

With Inflation increasing and a significant reduction in the availability of credit, many Britons are struggling with their finances, according to Legal & General.

The financial services firm has announced that the number of people who are now living beyond their means has increased significantly in the last six months, with residents in the north found to be particularly hard struck. Research carried out by the group indicated that in this area, the number of people whose outgoings are higher than their monthly income has ballooned by 82 per cent, with 281,000 consumers in the region found to be in this situation. East Anglia and the north-west have also seen their income shrink in the face of increasing costs, with 51 per cent and 47 per cent increases in the number of people living beyond their means recorded in each of these areas respectively.

For consumers who are finding that their salary is insufficient to cover their bills, applying for a payday loan may be useful to replace missing income. On the other hand, for consumers who find this to be a regular issue, a loan for consolidation purposes may be of benefit.

Indeed, it seems that across the country the number of people with money left over after bill payments is contracting. Research from Legal & General has indicated that only 57 per cent of the population has money to put away at the end of each month, meaning that an additional 1.2 million consumers have found their income insufficient in supporting their household in the last six months.

Again, the north was found to be the worst affected region, with a 17 per cent decrease in the number of people with surplus income logged in this area. However, the firm also pointed out that even Londoners are feeling a pinch, with a seven per cent fall recorded in the capital.

Commenting on the figures, Jonathan Latham, director of wealth customer marketing at Legal & General, said: "As inflation takes its toll, the need for investing becomes even greater as digging into reserves looks inevitable for an increasing number, with nearly 5.3 million people now being forced to spend more than they earn. The harsh reality of today means the end of the 'spend now pay later' culture. We would urge customers to review their finances and carefully look at their spending and savings habits. With some careful budgeting it is possible to keep on saving, even a small amount. If you are having financial problems, it is important that you take action and speak to a debt adviser."

For those who have found themselves struggling to keep up with spending commitments, taking out a debt consolidation loan may be an effective way of getting finances back on track. By spreading out payments in this way, people may find that they can avoid the risks of defaulting on commitments. Opting for this type of loan might be of particular interest to those people who are considering selling their property to avoid repossession after the Motley Fool warned that many buy and rent back schemes come with clauses that could put consumers in a vulnerable position.

Black Homeowners Guide - How to Build a Fortress Around Your Finances

2008-08-08T08:09:00.002-07:00

I often tell Black Homeowners the best way to survive the current financial climate is to make sure you have a fortress of protection around your finances. Financial protection doesn't always have to mean denying yourself and your family the necessities or even some of the luxuries in life. But it does mean spending your money smarter so it stretches farther. Your money should also do more than one task at a time (multi-tasking money, how cool is that). Your money should also help protect your other assets.

Many African American homeowners experiencing financial hardship today failed to build a fortress around their finances. Not building a fortress around your finances is causing many people's debts to snowball and eventually overtake them.

Here's three simple ways to build a fortress around your finances. I call it my "Triangle Fortress". The three sides of protection is Quick Decisions, Account Protections, and Smart Shopping.

1. Quick Decisions. Can you make tough decisions fast after you have all the facts? The quicker you can make tough decisions after gathering all the facts, the sooner you'll start building your fortress around your finances and protecting yourself.

"Unfortunately one of the biggest mistakes most people make who experience financial calamities is waiting too long to take action", says financial consultant Seth Weintraub.

Soon the problem snowballs out of their control, making their money problems harder to handle than a greased pig.

2. Account Protections. (Note: Make sure you consult a qualified financial professional for specific laws in your state).

Do you know one of the major advantages the rich have always had? This one secret has allowed them to keep money in their families for generation after generation. For example, the old money rich like the Rockefellers, Kennedy's and Rothschild's place their money in places the tax man can't go.

Now the average or not so average person has places they can place and protect there money. For example ...

401K Retirement Plan. If you have access to a 401K or other retirement account make sure you're maxing it out. This is one of the few areas you have complete protection from creditors, a bankruptcy, lawsuit or even the I.R.S. A retirement account is one of the best ways to build a fortress around your money.

IRA and Roth IRA. The Bankruptcy Reform Act protects up to $1 million in IRAs, including Roth's, from creditors.

529 Plan. Another excellent way to build a fortress around your money is through a 529 college plan if you have children.

A 529 Plan is an educational savings plan managed by a state or educational institution. It helps families save money for future college costs. It's named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1998.

3. Shopping Smarter. When coming out of an economic high and diving into an economic downturn it's important to change your spending habits quick. Here's two habits you should make sure you're doing.

Comparison Shop. This is another way to help build a fortress around your finances. With so much pressure to buy, buy, and buy now, it's tempting to snatch whatever product or service is convent at the moment.

Impatient buyers are an overpriced stores favorite customer. Make it a habit to check at least 3 places or get 3 estimates before buying, especially big ticket items and services. With the internet, comparison shopping is easier than ever. Don't pay for what you can get free.

It's shocking to hear what people pay for everyday that they could get for free. If you follow this simple advice you'll save hundreds may thousands of dollars this year.

As tight fisted as you think your Federal, State and Local governments are, they offer a slew of free and low cost services.

Most people never take advantage of these free and low cost services, but instead pay companies because of convenience or they simply don't have the information. For example, do you take advantage of free government books, pamphlets and other information you can get from the Government Printing Office?

The books and pamphlets are on thousands of different subjects. Most states offer free or no cost medical clinics, vaccinations and health care information and more.

Even your local library offers free books of course, but that's not all. You can also find low cost CD and DVD rentals, free lectures and classes on different topics. Free internet access is also available and more.

Second best is sometimes better. When the economy was flying along everyone wanted the best, in fact many advertising slogans revolved around "You deserve the best ... Because you're worth it." Remember that?

But did you know second best can often be better? It all depends on what you're using the product for. The object of spending smarter is not always buying the best, but buying the best for your particular circumstance.

For example, do you need the best car to get you back and forth to your job everyday? Do you need the best shoes to do yard work? Or do you need to have the best computer if all you do is send and read email a few times week?

If you follow these tips you'll quickly be on your way to building a fortress around your finances. I'll offer more tips in future newsletters. Because the next best accomplishment after making money is protecting your money.

Money - Are You Making Money to Spend Frivolously?

2008-08-08T08:09:00.001-07:00

Do you make money and spend it quickly? Take this very short quiz here to see if you are an impulse spender. Please answer these questions truthfully:

1.) Do you live from paycheck to paycheck?

2.) Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?

3.) Is your closet jammed with clothes you don't wear or wear infrequently?

4.) Is you home or apartment cluttered, with items you rarely use?

5.) Do you have jewelry or other body ornaments that are collecting dust?

If the answer to ANY of these questions was "yes", I suggest you wait a full minute, at the minimum, and think about what you might buy, before making any purchases. If the answer to ALL of these questions was "yes", the stores love you and turn on the sale lights when they see you coming. Wait 5 minutes, at the minimum, and think about what you might buy, before making any purchases.

Always put away a portion of your check into savings. Budgeting and setting money goals will help tremendously. Set a limit and budget on how much you will spend monthly on necessities, such as food, transportation and shelter and luxuries, such as another pair of black dress shoes.

Impulse spending will not only put a strain on your finances but your relationships, as well. To overcome the problem, the first thing to do is learn to separate your needs from your wants. One "want", we splurged on for the children was a popular Nintendo game set. However, this was only after our monthly needs and savings had been satisfied.

Advertisers blitz us hawking their products at us 24/7. Again, one trick is to give yourself a cooling-off period before you buy anything that you have not planned for.

Becoming an all cash buyer could help you tremendously. We tend to spend less when we are spending cash. Become methodical with your spending. Account for every dollar. Once you have cultivated better habits for your spending, you can go back to using credit cards, if you want to. It takes at lease 30 days to change a habit.

Take it from one who know firsthand, impulsive spending is not good. It can easily destroy your finances, if you allow it to. It can be a terrible addiction, like sugar or food, and just like a food or sugar addiction, it can be cured, with some amount of smart work. Please don't take your impulsive spending lightly. Put together a plan, TODAY, to stop it. Both your wallet and your relationships will thank you for it.

Secure and Safe - Tips For Online Banking

2008-08-08T08:08:00.001-07:00

Just within the last several years, the Internet has emerged as a highly convenient way to conduct banking business, as well as shop for financial services. As the use of the Internet continues to expand, more banks are using the web to offer products and services or enhance its communication with existing customers.

However, according to the Federal Deposit Insurance Corporation (FDIC), safe online banking involves making wise choices - decisions that will help users avoid costly surprises or even scams.

Whether selecting a traditional bank or an online bank with no physical office, users should make sure a bank is legitimate and that deposits are federally insured. The following are tips for consumers considering banking over the Internet:

1. Read key information about the bank posted on its Web site. Peruse the "About Us" section on the bank's Web site where a brief history of the bank, its official name, address, and its insurance coverage from the FDIC is featured.

2. Protect yourself from fraudulent Web site. Be careful to avoid copycat Web sites that use a name or Web address similar to, but not the same as, that of a real financial institution. Their intent is to lure potential customers in giving personal information, such as your account number and password. Making sure you have typed the correct Web site address of your bank before conducting a transaction.

3. Verify the bank's insurance status. To verify a bank's insurance status, look for the familiar FDIC logo or the words "Member FDIC" or "FDIC Insured" on the Web site. Internet users may also check the FDIC's online database of FDIC-insured institutions.

4. Due to insurance purposes, a bank may use different names for its online and traditional services. Your deposits at the parent bank are added together with those at the Web site and insured for up to the maximum amount covered for one bank.

5. Only deposits offered by the FDIC-insured institutions are protected by the FDIC. Nondeposit investments and insurance products, such as mutual funds, stocks, annuities, and life insurance policies sold through Web sites or at a bank are not FDIC-insured, are not guaranteed by the bank, and can lose value.

6. Quite often banks that are chartered overseas are not FDIC insured. If you choose to use a bank chartered overseas, it is important to note that the FDIC may not insure your deposits.

Consumers often want to know how their personal information is used by their bank and whether it is shared with affiliates of the bank or other parties. Beginning in July 2001, banks are required to provide customers with a copy of their privacy policy, regardless of whether you are conducting business online or offline. Here, customers can learn what information the bank uses regarding its customers and whether it shares this with other companies.

It's important to remember that the Internet is a public network. So, it's important to learn how to safeguard banking information, credit card numbers, Social Security Number and other personal data. Look at the bank's Web site for information about its security practices, or contact the bank. Also, be informed about the Website's security features including:

1. Encryption: the process of scrambling private information to prevent unauthorized access.

2. Passwords or personal identification numbers (PINs): Used when accessing an account online. Choose a password unique to you and consider changing it regularly.

3. General Security: Security provided by your personal computer such as virus protection and physical access controls should be used and updated regularly.

Considered an added convenience to customers, some banks may offer links to merchants, retail stores, travel agents and other sites. Keep in mind that nonofficial Web sites linked to your banks' site are not FDIC-insured. These company's products and services may not be insured by the FDIC and your bank may not guarantee the products and services. Make sure you are comfortable with the reputation of a company before making a transaction and never provide a credit card or debit card number unless you initiate the transaction.

MUTUAL FUNDS and Personal Finance

2008-08-06T08:49:00.000-07:00

Insurance medical exams may not be as certain as death and taxes, but they're not far behind. You'll probably take one when you apply for nongroup life insurance.

You might also have to take an exam if you want nongroup disability, health or long-term care insurance.

Just because such exams are common, don't take them lightly. If you flunk the test, you could be denied vital coverage.

Even if you pass, which most people do, your results affect your risk rating. A better rating means cheaper premiums.

Some basic steps can help. Take life insurance. Many of its rules apply to other types of coverage as well.

Life insurers typically put applicants into one of four broad categories. "These categories are based on the risk you'll die soon," said Dr. Craig Davidson, assistant vice president and senior medical director at the Hartford.

People in the best health are "preferred" risks. The next category is "standard."

Below standard, applicants are rated by the severity of their health problems. These substandard categories are called tables.

If you're slightly below standard, you're in Table 1. If you have a slightly higher risk of dying early than people in Table 1, you're in Table 2. Some companies go up to Table 10.

Someone with diabetes might be put in Table 2 for determining premium payments. Someone who has had a heart attack may be in Table 4. With a shorter life expectancy, he can expect higher premiums.

Some people won't be offered insurance at all, at any price.

"About 18% of our applicants are rated or declined," Davidson said.

The other 82% are preferred or standard risks. More people pay preferred rates than standard rates. The difference can be substantial.

Premium Prices

Suppose a 50-year-old male wants to buy $500,000 of life insurance. He chooses term life, which charges relatively low premiums and accumulates no cash value.

He wants a policy that will stay in effect for 10 years.

If he is a nonsmoker who is a preferred risk, he might pay $750 a year for that coverage. (Anyone who smokes will pay much more for life insurance.)

If this nonsmoking 50-year-old is a standard risk, he may pay nearly $1,300 a year for the same amount of insurance.

He'll pay much more if he's rated. With some hypertension or cholesterol issues, he could be classed in Table 2 and be charged $1,900 a year.

Obviously, the best way to hold down your costs is to watch your health regularly. Stop smoking if you're a smoker. See your doctor and follow suggested treatment if you have high blood pressure, high cholesterol, excess weight or other cardiovascular risks.

You can do other things at the last minute to get a better grade on an insurance test. If you're on the borderline, these actions might push you into a lower-cost category:

• Eat carefully. Davidson suggests not eating for at least eight hours before a physical exam. That can keep blood sugar and triglycerides down.

For a day or two before your test, avoid steaks and other fatty food.

• Watch what you drink. Limit your consumption of alcoholic beverages before the physical.

Minimize your intake of caffeinated drinks such as coffee, tea and cola. Alcohol and caffeine can raise your blood pressure. Even juice might hurt your result.

Water and more water might help, can't hurt.

• Schedule your test smartly. Let's say your exam is set for late afternoon. You run out of a heated business meeting to make the appointment. The stress might send your pulse and blood pressure sky high.

Taking a physical early in the morning probably is better. After a night's sleep and before you go to work, your stress level may be low.

• Exercise care. Keeping in shape is a good long-term strategy. But a strenuous workout before your exam can be a bad idea.

"Playing squash or running five miles before a physical can affect tests of liver function," Davidson said. That might put you into a lower health class than you deserve.

South Florida Sun-Sentinel Personal Finance Column

2008-08-06T08:48:00.001-07:00

Aug. 2--Before she was Dawn Summers on Buffy the Vampire Slayer or Georgina Sparks on Gossip Girl, Michelle Trachtenberg was Harriet M. Welsch in Harriet the Spy. And before Harriet the Spy was a 1996 film, it was a not just one of the greatest books ever written, but the kind of book that, if you read and loved it in your childhood, immediately bonds you to others who did, too, to the point that you sort of lose respect for any woman who did not devour the novel a minimum of seven times.

Published in 1964 by Louise Fitzhugh, who died a decade later of a brain aneurysm at age 46, Harriet the Spy is about a stubborn, smart, decidedly unfeminine adolescent girl who lives in a Manhattan townhouse and is generally ignored by her parents. She has a close if unconventional relationship with her nanny, Ole Golly (played, somewhat incongruously in our opinion, in the movie by Rosie O'Donnell), and spends the vast majority of her time spying on neighbors, classmates and complete strangers. Lessons are eventually learned, but not in some goopy, melodramatic manner; Fitzhugh's writing is as fiercely intelligent as Harriet herself. At least, that's how it was in the book. Frankly, we've never seen the movie. That would be sacrilege. But that's just us.

Personal Finance: Are there benefits in insuring children?

2008-08-06T08:46:00.000-07:00

The question of insuring children is a loaded one. The death of a child is an unimaginable tragedy, one of parents' worst nightmares and something no one would want to even contemplate.
Understandably, many people find the idea of insuring their children to be somewhat distasteful - or downright offensive. But purchasing a permanent life insurance policy for your child today could give them a financial head start tomorrow.

A financial advantage

There are two very good reasons to consider insuring your child, for their own benefit. The first is financial: the earlier you purchase life insurance, the less it costs. No matter what kind of policy you purchase, life insurance costs more the older you are. However, with a permanent life insurance policy, you can lock in a premium price when you first purchase the policy. If you purchase a policy for your child at a young age, that affordable premium is locked in and will not go up throughout the course of your child's life, as long as the policy is kept in force. That can be an enormous financial advantage to your child as they go through life.

In addition, the earlier you purchase permanent life insurance, the longer the cash value has to grow tax-deferred. Over the years, that can make a huge difference in the amount of cash value that can accumulate. And down the road, that cash value can be borrowed against if necessary-for instance, to buy a house, pay for college tuition or help supplement retirement income. That's why having a cash value accumulating for a long time can be a financial advantage to your child, in the future.

The gift of insurability

However, the most compelling reason to purchase life insurance for your child while he or she is young is the fact that doing so can ensure their insurability later in life. We all pray that our children lead healthy lives. But, realistically, so much can happen to make them uninsurable or only insurable at a high cost - even their chosen profession. A juvenile life insurance policy can help protect them when they are young, and allow for greater protection as they grow older. Many policies come with riders that allow your child to purchase additional insurance at various points in their life. By insuring your child while they are young, you can help make sure they can provide financial protection for their own family later on in their life.

Should tragedy strike

Even in the event of an unthinkable tragedy, the proceeds of a child's life insurance policy could make a difference in so many ways. That money could be used to keep your child's memory alive. For instance, you can give to a charity or create a memorial fund in your child's name.

The death benefit can also help you deal with some of real financial ramifications of such a tragedy, such as medical or funeral costs. It would be devastating enough to lose a child, without having to also struggle to cover medical bills and final expenses, which can run in the thousands of dollars. The policy death benefit could also allow you to grieve properly. Many companies will give parents a week off with pay when a child dies, but how many people would be ready to go back to work one week after losing their child? The death benefit could allow you to take the time you need to grieve without having to worry about your income during that time.

A gift for a lifetime

Purchasing life insurance for your children should not come instead of purchasing life insurance for yourself and your spouse, or saving for your retirement. However, if you have the funds, purchasing an insurance policy for your children could help ensure they are protected, and also help them and their future families down the line. Rather than being something offensive to even think about, buying life insurance for your children could end up being one of the greatest gifts you'll ever give them.

How To Fight High Gasoline Prices

2008-04-09T01:25:00.000-07:00

Are you scared that gas prices are going up but your income is not? Is the high gasoline price sucking too much money out of your pocket?

For people on a fixed income, it looks as if everything is going up except their pay check. In fact, the situation is so serious that some of them need to look for a new job closer to the home just to save on gas. This is true even though they love their job and don't want to change it.

You can find plenty of advice about surviving in the world of high gasoline prices. For example:

Change your driving habits.
Cut back on daily purchases in order to compensate for increased gasoline spending.
Do not go out for lunch. Bring it with you to the office.
Instead of eating out at a "fancy" sit down restaurants, go to fast food places to cover the difference between gas prices and food savings.

Basically, all these advisers are teaching how to adjust your spending habits to accommodate rising gas prices because there is nothing you can do about the rising cost of gasoline. But what if you don’t want to change your habits? What if you refuse to become a hostage to higher gasoline prices?

Well, I have a realistic solution. Instead of losing time on driving around looking for cheaper gasoline, spend your time and energy on learning about online earning opportunities. You can easily make between one hundred to three hundred dollars on the Internet monthly. This extra money could cover your gasoline expenses allowing you to forget about this problem for rest of your life!

There are hundreds of thousands people who make full time living from the Internet business and millions who choose the Internet as a part time job. Why not to begin your Internet business journey with a very clear goal to compensate your everyday gasoline expenses?

There are countless ways to make this kind of additional income through the Internet. Most of these methods are very simple to understand and quickly to learn even for beginners.

Being involving with an Internet business on a part time basis can earn you extra income straight from your home computer without giving up the things you and your family already enjoy.

Put Money In Your Pocket By Cutting Personal Expenses

2008-04-09T01:24:00.000-07:00

Everyone has personal expenses. But the fact of the matter is; most people spend much more money than they realize. If you ask someone to make a detailed list of their monthly expenses, they will tell that they spend about 30% less than they actually do. This unknown spending can make a significant dent in your budget.

Many of these little forgotten expenses are making it difficult for some people to make ends meet. So what can you do to reduce your expenses? Slash your expenses and change your spending habits. You would be surprised at the amount of money you can save by making a few small changes in your spending habits.

Never go on a shopping trip without having a list. Even if you only need three or four items, make a list and stick to it. Stores know that most people are prone to buying impulse items and will set up their store to take advantage of this. Don't fall for that money-sucking trap. Only buy items on your list. If you see something that you really like, pass on it during that trip and think about it when you get home. In most cases, tat impulse purchase will not look so enticing after you've thought about it for a while.

Never go grocery shopping when you are hungry. A hungry shopper will almost always buy more than someone with a full stomach. And again, if you have followed the advice in the previous paragraph and have a list, you will spend considerably less.

Always use coupons, particularly at the grocery store. Using coupons, you can easily and consistently save about 10% on your grocery bill. Over the course of a year, this can amount to a great deal of money. Develop a file system for your coupons. And most importantly, only buy items that you need now. Don't buy an item that you might use in 6 months just because you have a coupon today.

Are you are tired of living paycheck to paycheck with no cash to spare? Check out my newest ebook for the details on how to slash expenses and put money in your pocket!

Frugal Living Tip #8 - Buy Used - Always

2008-02-26T01:44:00.000-08:00

Reading the title of this edition of frugal living tips you are probably thinking to yourself, Thank-you Captain Obvious. Well, while the notion of saving money by purchasing used is not exactly groundbreaking, I'm here to remind you that the majority of us don't take this powerful saving tool far enough.

What do I mean by this? Start by taking stock of some of the possessions in your house. Sure, you got that sofa by replying to an ad in the local classifieds, that table lamp came from a garage sale, and those jeans came from a thrift store. But what about your TV, dishes, tennis rackets, winter parka? What about your car, or your house? Odds are the majority of the items in your household were probably bought new at the store. But just about every material good you own, regardless of how big or small, could have been purchased at a significant discount if you had bought it used.

The two most expensive purchases - a house and a car - are often purchased new, despite the immediate depreciation that occurs as soon as we sign the papers. But, wait a minute, houses are an appreciating asset, aren't they? This is true, in most real estate markets, however when you purchase new you will face the applicable sales tax. Here in Canada that is a 5% GST tax added to the purchase. Not exactly peanuts when applied to a $400,000 sale. Now you've paid $420,000 for your nice new home. Compare that to a five year old home with the same specs in the same neighborhood. Because it is not brand new they cannot justify pricing it at the same level as the new home down the street. Instead this home sells for $370,000, with no applicable sales tax. Purchasing the used home could have saved you $50,000! Project the interest paid on that extra $50,000 over the term of your mortgage, and you can probably double that number. A pretty hefty premium to pay just to have the privilege of being the first occupant.

Cars are even worse. Not only do you pay sales tax and freight charges on a new car, but they are a depreciating asset! As soon as you drive it off the lot its value starts to erode, and in five years, when you've finally finished paying for it, it will likely be worth less than half what you paid. The solution is simple: Let someone else pay that depreciation. Shop around, and read consumer reports on automobiles 3-5 years old. Look for gas efficiency and reliability above all. One of the major reasons people buy new cars (or even worse, lease!) is because they don't want to be hassled with maintenance problems. If you do your research carefully you can find a solid, reliable used car and enjoy nearly the same level of peace of mind, but at less than half the cost!

So, those are the big ticket items, but that is just the tip of the iceberg. Whenever you have a need or a want, get yourself out of the habit of heading down to the department store. Instead, start your search in the local classifieds (print and online), head to garage sales, thrift stores, flea markets. Everything you need is being sold used by someone somewhere, and often at a discount of up to 90% off what you would pay for it new. Even popular items will be sold at least a slight discount to their retail counterparts. Someone selling used items for the same price as new aren't going to do very much business.

Turn your search into a game. Comparison shop even among used goods, and try and find the absolute best bargain possible. You might have to wait a few days, but eventually you'll come across what you are looking for at a smokin' price. By applying this technique to every item you buy, from forks to fridges, you can cut your discretionary spending in half!

There is another bonus perk if you are purchasing goods directly from other individuals, rather than businesses. In most cases, they will not accept credit cards. Cash is king for person to person transactions. This forces you to only buy what you currently have money for - a great impulse check and yet another way to keep those credit card balances minimal.

Financial Planning - 5 Ways Of Not Overspending When On Vacation

2008-02-26T01:33:00.000-08:00

Most people look forward to vacations the entire year. It is a time of relaxation and of family bonding. Some families meet new places, some go to the same location every year, and some just stay home and rest. It does not really matter where the holiday takes place, but how much you spend on them. Following you will find some tips on how to enjoy your free time without spending more than you need to.

Savings: Key To An Unforgettable Trip

If you still have a good four or five months before departing, then this recommendation will fit you like a glove. If each month you put aside 10%-15% of your income and destine it solely to a vacation fund, then when the time to pay for that trip comes, you will have saved enough for the expenditure not to hit your finances so hard. Setting aside such a low monthly percentage will help you to save without you even noticing it. And what is more, you can apply this technique not only to trips, but to anything else you might want or need.

Coupons And Promotions: Your Best Friends

It will be a good idea for you to surf the web in search of any promotion that might help you to save a few bucks in your trip. If you usually travel by plane for business or something of the sort, you might have many frequent flier miles, which will be great if you are flying to your special destination. Otherwise, you will be able to contact tourist information and they will let you know if they offer any promotions on accommodation or transportation.

Budget: Keep Focused On It

Nowadays, many households make financial plans before leaving for holidays. They include the cost of the essentials, such as food, accommodation, transportation, etc, and try to make out how much money they will spend without going overboard. Now you and your family have your brand new budget and you are about to leave for your very much expected holidays, everything is perfect. Once you get to your destination, you have to stay focused on that little piece of paper on your pocket or daily planner. Most people tend to forget they ever made a budget and start spending like crazy, do not let this be your case. Concentration and motivation are essential.

Credit Cards And You: Learn To Go Separate Ways

Evidently, bringing your credit cards with you on your trip is a very accurate decision. In case of an emergency, credit cards can really come in handy. But it is advisable not to carry them around with you. If you leave the hotel, leave them there. Keep them somewhere safe, but not with you. Why, you might be wondering. To resist temptation. If you only have cash with you, the necessary amount for you and your family to dine out, or to go to that excursion you had in mind, you will not be able to spend it on unnecessary things. Otherwise, it will be very easy for you to get carried away and to pay everything with your plastic card.

Have More Money in Your Pocket With These Financial Tips

2008-02-24T23:13:00.001-08:00

No one ever said that managing your finances is an easy thing to do. Many of us have a difficult time living on a tight budget. One positive is that through smart planning with the help of some basic knowledge of refinancing, you can save a good deal of money. Better yet, you can watch it grow. That's why you need to find ways of financing to put more money in your pockets.

There are a number of different options you can take when it comes to learning more about finances. The most important is probably have some good common sense. The trick is to focus in on your goals and find solutions to what's holding you back from having money. Here are some simple ways you can begin putting money back into your pocket instead of paying it out to someone else:

* Start with debt management - If you are buried under credit card debt, one thing to take refuge is the fact you're not the only one. Nearly everyone you meet has some sort of credit card problems. One way to If you're mired in credit card debt, you're not alone. I recommend refinancing your mortgage as a way of cutting into that debt. A mortgage refinance can get you a lower interest rate than most credit cards, leading to significant savings of money in the long run. Another option is for you to consolidate those debts too.

* Be aware of all your interest rates - Ok, maybe you're not in financial debt or trouble but you may be losing money by not paying attention to it. If you have money saved into account or in investments with too low of an interest rate, you're losing money that can be potentially be making. This happens most often in checking and savings accounts that pay extremely low interest rates. That interest rate can even be voided from the the pace of inflation. Financial experts are saying to move your money to a liquid money market. This pays a higher return.

* Open a home equity line of credit - I'm sure you've heard to save your money for a rainy day. The old line of thinking was to save three to six months worth of your salary on hand in case you ever found yourself in a financial crisis. You can do that or you could use that money for more lucrative money making potential. Try going with a home equity line of credit for your emergency or rainy day fund. This way the only risk you face is paying on the interest rate of any money you use from that line of credit.

* Refinance - Refinancing isn't the end all answer to your financial problems. It can , however, make life a little easier but saving you a good deal of money. Do some research on current mortgage rates and then compare them with your mortgage. If you discover you are paying a percentage or two more than you should be, I recommend refinance your loan. Another option is to refinance to one with a shorter term. This can save you thousands of dollars in long-term interest.

Debit Card - What It Is And How It Works

2008-02-24T23:08:00.000-08:00

Do you remember the days when the debit card was the most important means of transacting business? Very few people then had credit cards. Together with the check book, it was the primary means of doing transactions. Those were the days when there were very few credit-card owners.

So what exactly is a debit card and how does it work? It is like a credit card, made of plastic and is used as an alternative payment methods to cash when purchases are made. Typically, it is directly linked to the card holder's account. Whenever they are used to do transactions, the card holder's account is automatically deducted.

Here is an example of how it works. John Doe has one that is tied to his savings account. He has an opening balance of $15,000. Now since it is tied to a savings account, John Doe can use his card to do $15,000 worth of transactions, either in the form of purchases or ATM withdrawals.

Many debit cards have a maximum withdrawal amount per cycle built into them. For instance, you may have a withdrawal limit of $3,000 every three days. What this means is even though there may be more than $3,000 in your account, they can only withdraw up to $3,000 in any three day cycle. This particular feature was used to safeguard cardholders against possible theft and the subsequent draining of the cardholder's account.

Coming back to the example above - assuming John Doe had a three day cycle limit of $3,000, and he made a purchase of a stereo set costing $1,500 on day one, the balance on his savings account would now stand at $13,500, and over the next two days he will only be able to do ATM withdrawals and or purchases to the tune of a $1,500. Again, this feature is designed to protect the card holder against theft.

If after doing a number of transactions, John Doe brought down the balance in his savings account to $1,000, then this is all that will be available to him even though he has a three day withdrawal cycle of $3,000.

Debit cards are a safe means of making purchases since it saves the purchaser from having to walk around with cash in order to make his or her purchasers.

When this was the primary tool for making purchases, it kept card owners out of financial trouble since they could only use or withdraw what was in their account, and could not overdraw their balances.

Now how is John Doe's account updated each time a transaction is done? Each debit card has a black strip at the back of it. This is known as the magnetic strip and contains information about the card holder that cannot be seen by the naked eye. This information includes the card holder's name, banking institution, bank account, branch, and other pertinent information. When the card is used to either do ATM withdrawals or purchases from merchants, a card reader is used to initiate and conduct the transaction. In the case of an ATM withdrawal, the debit card owner place is the card in the card reading mechanism, and enters a Personal Identification Number or PIN that identifies him or her to the system. This is validated by the machine and opens the way for the cardholder to do an ATM transaction. Withdrawals of amounts that fall within the account owner's balance will be honored. All others will be declined.

When the cardholder makes a purchase, pretty much the same steps are carried out as if he were going to do and ATM transaction. The only difference here is instead of the big ATM machine, the merchant to have a much smaller hand-held cards Reading machine. The steps a pretty much the same. The merchant swipes the debit card in the card Reading mechanism then enters the amount of the transaction. The card owner must now validate the transaction by entering his of her Personal Identification Number. Once all is correct up to this point, the card reading machine would now use the network that is in place to determine whether the cardholder has funds in his or her account. If they do the transaction is completed. If they do not the transaction is declined.

While debit cards are not as popular as credit-cards, they're certainly a very valuable tool for anyone who is serious minded about savings and monitoring their indebtedness to financial institutions. Since the debit card typically works with the card owner's available balance, it negates the whole credit process thus helping the cardholder to avoid on necessary indebtedness. It disciplines the card owner into managing their personal finance and thus saving credit facilities for when they are really needed. That being said, they are an excellent means of rebuilding your credit.

Winning Tips for Spread Betters

2008-02-19T01:35:00.001-08:00

I have been trading futures, options and equities for many years. As well as trading my own money I have traded money for banks and I have been a broker for private clients. Over the years I have been fascinated to discover the difference between winners and losers in this business.

Try to learn from the points I am about to give you.

1. To maximise profits, Direct Market Access (DMA) and Level 2 are essential. This allows me to see the strength of the order book and place an order either inside the spread or join the queue outside the spread. Over time this has a huge bearing on trading efficiency.

2. The broker I use allows me to go straight to the market and does not charge a commission. There is no stamp duty and of course no income tax or capital gains tax on profits. Again this has a huge impact on trading efficiency.

3. I have only really read one book on how the market operates and that is 'The UK Trader's Bible by Dominic Connolly'. I wish him well on the other side of the world.

4. It is essential to have a high aptitude for risk and a gambling mentality. Conversely you have to be risk aware and all the time you are trying to make your trades more efficient by getting the odds on your side. I know what I mean here but hard to explain.

5. Outside spread betting I chiefly invest in small cap companies. Spread betting on FTSE 100 companies requires a greater awareness of the macro economic picture. For example, prices can move rapidly when economic news is released, it is essential to be in front of the screen when this happens. Likewise, London prices react to movements on Wall Street so an eye has to be kept on the Dow Jones Index.

6. Avoid the temptation to take positions outside your chosen sphere of knowledge. I got to know "my shares" well but once or twice was tempted to take a position on a share I did not know which had experienced a sudden price movement. It usually was not a good move.

As I said at the beginning I am no expert on spread betting and I am sure there are many books which set out techniques and strategies far better than I have. What I do know is that the above has worked for me and I have managed to recoup the losses of last year with some profit left over. I am sure that there are many flaws in what I have written and yes luck did play its part.

I used to work for a group which had a spread betting division, I had no involvement with the division but I know from talking to the guys who ran it that most spread betters end up making losses. I therefore do not encourage anyone to follow in my footsteps but if you do, be aware that the losses can be far higher than your initial stake. It is not a game for the faint hearted.

It is hard work and can be very draining. For that reason and also because a torn muscle has healed at least I hope it has, I am returning to the golf course for the summer months and my spread betting career is over for the time being.

Taking Care of Business At Home - A Personal Finance Checklist

2008-02-19T01:34:00.000-08:00

Why would you not consider yourself a business of ONE person? Or your family as a business of 3 or more people? Well that is exactly what you are - "Me Incorporated", "I Inc", "We Incorporated". You truly must consider yourself a small family business. Like any business you have ongoing expenses (mortgage, rent, utilities, groceries), revenue (salary and other income) and major capital expenditures (house, vehicle, vacations, renovations).

Like any good 'household business', you need to do some planning. Set out a budget for the year, track your expenditures and retained earnings (savings). Yes, all of this looks, feels and is exactly like a well run business. On My Gosh! Don't rush out and buy an accounting package to run your household. And no need to take a crash course on accounting or bookkeeping. You can accomplish all your financial tracking and planning requirements with some paper or by using a simple template with your favorite spreadsheet package - Microsoft Excel or even with Open Office.

Just like a well run business, your household budget and tracking your spending is best served using a visible record of events; namely, financial records, bank or check register. It is just like tracking your road trip progress using a map. If you know where you are now, then you will have some idea when you will arrive at your destination. In life, money or finances allows you to get to your personal destinations or dreams. A visible financial roadmap of your 'Me Incorporated' finances, mapping your progress, seems logical.

Running your 'Household Business', like corporate business, requires a few processes to keep track of your finances:

1) Establish a yearly and monthly household budget. Consider all your expenses - weekly, monthly, quarterly and yearly outlays of money. You will be surprised at the length of this list and all the places you spend your money.

2) Track monthly your actually spending and income against the budget you established in step 1. This will help you see the 'peaks and valleys' of spending or seasonality aspect of your expenses. Over time, you will come to know these expense 'peaks and valleys' and this will help you maintain a positive cash flow. Bottom line: have money in the bank to pay all your expenses and still have some left over (retained earnings). Your single biggest challenge in running any household (or business) is always having enough money in the bank to pay the bills; especially, the unexpected ones. Having a buffer of savings will help with these 'peaks' in expenses.

3) Track all your bank account activity. Track and enter in your Bank or Check Register every deposit, every electronic (ATM, web, PayPal, debit machine) transaction and every analog (check, money order) withdrawal. And reconcile your bank statement every month. Know exactly how much money you have available in your bank account(s).

4) Especially track your spending through credit cards and lines of credit. These are potentially the 'run away' expenses. Remember only once a month do you see the visible record of your credit card spending. Compound that with the fact that most people have more than one credit card. This can easily result in multiple 'spending surprises' each month. Be diligent in tracking your use of credit card transactions. Breakdown the credit card expenses into their respective budget items - gas, groceries, clothing, entertainment, etc. This will help you separate normal household expenditures from other shopping incidentals. You will come to see your spending patterns and can now make adjustments. Just like your bank account, reconcile your credit card statement every month.

Top 5 Reasons to Avoid Store Cards

2008-02-18T02:59:00.001-08:00

Store cards are a form of credit card where a consumers can spend on the card and then either repay the balance in full at the end of each month in order to avoid interest, or can spread the repayments on the card over a period of time, in which case interest will be charged on the balance until it has been repaid in full. Although more and more shops are now offering store cards, there are not many benefits to having these cards and they can quickly lead to mounting debt for the consumer. Below you will find five of the top reasons to avoid taking out store cards:

1. The interest rates. The rate of interest charged on most store cards if the balance is not repaid in full at the end of each month can be extremely high, and can quickly add to the balance, leaving the cardholder in increasing debt. Those that make minimum repayments on the card will fare particularly badly as they will be the ones that are hit hardest by the interest payments.

2. Temptation. Store cards are well known for increasing the chances of impulse buying, and many sales staff at shops bank on consumers' impulsive streaks in order to get them to sign up for a card. When you sign up for a store card you often end up purchasing something you would otherwise not have bought simply because the salesperson offers you a discount for taking out the card. In addition, future discounts may encourage you to make purchases that are unnecessary, and if you don't repay the balance in the interest free period any discount will be counteracted by interest charges anyway.

3. No cash transaction facilities. A store card does not enable you to make cash withdrawals and transactions, and this means that if you need cash in an emergency you will certainly not be able to rely on your store card. You would be far better off with a credit card, as this allows you to withdraw cash or make cash transactions should you need to, although these are best avoided wherever possible due to high charges that are applied.

4. Restrictions of use. With a store card you are very restricted in terms of where you can use it. You can only use your store card in a particular shop or chain of shops, and this means that you have very little in the way of choice. You may be able to get the same or a similar product cheaper elsewhere but may end up going for the most expensive one simply because you have a store card for that particular retailer.

5. False economy. Many store cards offer a range of discounts to cardholders when it comes to their products. However, unless you tend to repay your balance in full at the end of each month -in which case you would fare far better with a rewards based credit card due to increased freedom and a choice of rewards- any discounts would be counteracted by the very high rates of interest charged on your balance.

Top 5 Tips on Easing the Financial Hangover

2008-02-18T02:58:00.000-08:00

After Christmas and New Year celebrations have finished many of us find that we are left feeling tired, drained of energy, and worse still drained of money. The Christmas period can be a very financially demanding one, and once the festive season is over many of us take stock of our finances only to discover that we have spent far more than we originally planned leaving us facing financial difficulties.

In order to ease the financial hangover that can hit many of us at this time of year there are a number of steps that you can take. This include:

1. Check whether you can get a better deal on your credit card. If you have used your credit card to fund Christmas and you are being charged a high rate of interest you may find that one way to save money is to switch your card to another type of card, such as a 0% balance transfer card, which will allow you additional time without being charged interest to repay your balance. This could save you a small fortune in terms of interest.

2. Could consolidation help? If you have accrued a fair amount of debt over the Christmas period with store cards, credit cards, loans, etc. and you already had some debt prior to this you may find that one effective solution is to wrap up all of these debts into one lower rate consolidation loan. This will ease financial management for you and could save you a fortune in interest. It could also help to reduce the amount that you pay out each month.

3. Cut out your unnecessary spending. Most of us splash out more on going out, buying clothes, and treating ourselves over the festive season, but you should avoid continuing this into the New Year. Try making a few cutbacks when it comes to shopping for non-essentials and going out - the money you save could be put towards the debt you have accrued over Christmas or you could put it aside in savings towards next Christmas.

4. Don't hoard what you don't need. Let's face it - we all get presents over the Christmas period that we did not really want and will not use. If this is the case why not look at getting rid of some of these gifts rather than hoarding them for prosperity. With portals such as Ebay available, selling your unwanted goods needn't be a hassle, and you could raise a fair amount of cash to put towards repayment of your debts.

5. List where you can make savings. Go through your accounts and make a list of services on which you could save money, such as your car insurance, home insurance, utilities, broadband, etc. Then use the various price comparison sites to see whether you could save money compared to what you are currently paying. If so, make the switch and you could soon be saving a small fortune each month to put towards repayment of your debt.

No BS Talk About Personal Finance

2008-02-14T01:22:00.000-08:00

Below is a straight-talk, no bullshit article about personal finance:

1. You must have an earnings. This is basic, of course if you don't have an earnings, then you actually have no money thus nothing to manage. Look for something you love to do and earn from it - be it as an employee or as an entrepreneur. It doesn't really matter. What matter is that you "enjoy" what you do and at the same time earn from it. Why I suggest that you enjoy what you do and earn from it? So that it doesn't feel like work and you'll not feel burnt out. If you don't have a job, you can contact me.

2. Make sure your earnings are higher than your expenses. This is also important as you've got to have excess money to save up for "future needed funds". If you're earnings are lower than your expenses, you can either add-up another source of income (meaning, you don't have to leave what you currently do) or look for a better paying gig (meaning, don't waste your time and efforts in what you do, look for a greener pasteur). If you already have a job but wants to have another source of income or wants a better career, you can contact me.

3. Make sure to have a "6 months emergency fund". In USA, their only suggested to have a 3 months emergency fund. But here in the Philippines, there is no suggestions or whatsoever from the government. So, a lot of financial planners suggest people to have at least 6 months emergency fund. So if you're spending P10,000.00 every month, you should have an emergency fund of equivalent to P60,000.00. This fund will and only be used in case you temporarily loss income. This will be the fund you'll use while looking for another job or looking for another source of income. Your emergency fund should be placed in a very liquid investment instrument such as the savings account, a time deposit account, etc.

4. Make sure to have a yearly budget for health and medical bills. You don't want to use up your emergency fund should you or your family have a medical emergency. You and your family should have a health plan so that in the event that you or your family get sick or experienced an accident, you're well prepared for it. Your emergency fund is not intended for health or medical expenses so you better have a health plan. If you still don't have a health plan or wants to change your existing plan, you can contact me.

5. Make sure you have budget for different one-time big-time yearly expenses. One-time big-time yearly expenses are called Sinking Fund. This is used for one-time big-time yearly expenses such as Christmas, Valentines, Birthdays, etc. You should have a sinking fund for each and every one-time big-time yearly expenses you have where you save money on a monthly basis. You should never use your emergency funds for this.

6. If you have kids, make sure you have a budget for their education until they graduate. This is your responsibility as a parent thus it is NOT optional. You don't have a choice but to have this one. This is a packaged-deal for having kids. Tuition fees and other school needs increase every year, just like anything else, because of inflation. Unless you're a super dooper mega over rich person, you won't be needing to save up for your child's education. An educational plan can help you attain this one. I know that CAP, TPG, Pacific, and other preneed companies failed to deliver their promise on their educational plan holders. But a life insurance company is very much different to a preneed company. You should not be confused. A life insurance is a financial industry more like of a bank. It is strictly governed by a separate government entity called the Insurance Commission. There's a lot to talk about life insurance and this article is not the avenue for it as this is a straight-talk, no bullshit article about personal finance. Be closed-minded on these things, and you'll risk your child's future. I tell you, you can not save up for your child's education by yourself unless of course you have the "skill and knowledge" that most professional investors have. If you wish to know more about the education plans that life insurance companies offer, you can contact me.

7. In relation to number six, make sure you have a life insurance. A life insurance is a financial product used in the event of permanent income-loss due to total disability or worse, death. Your life insurance coverage (coverage is the amount that will be given to your beneficiaries (your spouse and/or children) in the event of your permanent income-loss) will depend on the lifestyle that your family have. If you don't have a life insurance or should you wish to know if your coverage is already enough for your family or not, you can contact me.

8. Make sure you have a retirement fund. This fund will be used by you by the time you no longer "actively" work for money (whether intentionally or unintentionally) for your daily/monthly expenses. Of course all of us will retire eventually whether by force or by choice. In this event, even though you've already retired from working, it doesn't mean that your expenses will also retire. It doesn't work like that. You retire from working for money but your expenses don't retire in asking for money. So, you've got to have a retirement fund for your expenses such as food, shelter, clothing, transpo, communication, medical/hospital, etc. The amount of your retirement fund will depend on your chosen lifestyle. You can never accumulate your needed funds in a savings account. You should use one or any or combination of different investment instruments such as stocks, bonds, real estate, mutual funds, UITF's, life insurance, variable life insurance, forex, etc.

Remove Foreclosure From Your Credit Report in Less than 7-10 Years

2008-02-14T01:21:00.000-08:00

It is really no secret that homeowners are often cajoled into agreeing to expensive payment plans or selling homes that they have worked their whole lives to purchase, simply to keep themselves out of foreclosure and pay the lender several thousand more dollars to keep their homes for a few more months. They are threatened with the impossibility of getting a loan after foreclosure or even being able to rent an apartment in many cases. But is it really a drawback for former homeowners not to be able to enslave themselves to a corrupt banking industry propped up by theft through government inflation?

Obviously, having a low credit score is entirely irrelevant to the person who relies only on himself to pay his way through life. Maintaining a great score in order to be able to increase limits on credit cards, buy homes with subprime adjustable-rate mortgages, and get a shiny new car every two years purchased with the money of others should not create a strong desire on the part of homeowners who have previously found themselves in the credit trap.

So, on the one hand, many homeowners will simply want to unplug from the system entirely, and live a voluntary life of sustaining themselves through their own efforts and productive work, while living within their means. Living independently without a credit score and credit history to worry about can be extremely fulfilling.

But on the other hand, there is also a privacy concern for many people, who do not want just anyone to be able to pull their credit, see that they have had a foreclosure, and send them unsolicited mail for more low-end credit. Thus, removing the foreclosure and as much negative information as possible may be a worthy goal for homeowners, to sanitize their credit report and move on without its use and without worrying about the past.

There are really only two ways to get a foreclosure off of a credit record. The first is relatively easy but takes a long time, whereas the second is quite difficult but can be result in the immediate removal of foreclosure from a credit report.

The first option every foreclosure victim has is to wait the 7-10 years (depending on all the circumstances, state, etc.) for the foreclosure to drop off of the credit report automatically. The credit agencies may keep reporting it after this period of time, but a few letters can have it removed after the time for its reporting has expired. In the meantime, the homeowner who does not wish to use credit any longer will simply have to wait it out. For those who do wish to keep themselves chained to the debt machine, even after foreclosure, the best thing to do may be to focus on building new, better credit records and put some time between themselves and the foreclosure. New lenders will give an old foreclosure less weight than 5 subsequent years of on-time payments, for instance.

The second way is to have the original lender remove the record from the credit report. Obviously, this is much more difficult than waiting nearly a decade, and lenders are not too willing to do this. However, it can be done the same way that consumers clean up their credit reports every day in other circumstances. Just dispute the debt, threaten the bank, sue the bank, sue the credit agencies, file complaints with regulatory agencies, and so on, until they realize that it is just easier to get rid of a crazy person by removing the foreclosure, rather than spend more time and money explaining its existence and accumulating complaints. Playing this role can often be very entertaining and enlightening for those cleaning up their credit reports, because they will experience first-hand how the bureaucrats and banks work together hand-in-hand against the average person.

Another tactic that homeowners may want to consider is emailing every single employee/officer of the bank whose email address they can locate and informing them that the complaints, letters, and negative press will continue until they remove the listing. Some lenders even publish company directories with email addresses of presidents, VPs, and directors. Again, there are no guarantees and this process is not easy, but the lender may eventually give in and remove the foreclosure or account altogether.

But it is completely up to the mortgage company as to what information is reported to the credit agencies. Especially if they have made some mistakes/violations, there is a good reason to start complaining and disputing. And all banks violate rules and laws all day, every day, because there are simply too many laws that contradict each other. It takes literally months for any of the disputes to be resolved, but this is significantly less time to worry about a foreclosure than waiting nearly a decade for it to drop off of the credit history automatically.

Diet of Financial Abuse - Have you Packed on the Pounds in Investment Defeating Costs of Living

2008-02-13T01:51:00.001-08:00

Financial Abuse costs you more than money. The reality is when you abuse your budget you pay with retirement, child care costs, health costs, and other fees too numerous to mention. So what can you do about it?

These suggestions will help you put in place a financial management system that works effectively all the time, every time, to save you money.

Meal Time Planning and Freedom

As a parent you may believe, mistakenly, that if you don't prepare food for your child for every meal, your child will be permanently damaged. Sometimes you need to allow your children to fend for themselves, and prepare exactly what they want to eat. (I'm not talking two year old cooking stew here, I'm talking simple meals anyone can prepare.)

Growing up, my family had Fend for Yourself Night once a week. Everyone prepared something they wanted from a specific selection and had a great meal, filled up their belly, and didn't break the bank. From a selection of ramen noodles, frozen veggies, fresh veggies, fruit, breads, and a few small canned meats and soups, we were allowed to prepare what we wanted. The only rule was it couldn't be fast food, and it had to be somewhat healthy (no candy bar/soda pop dinners). My favorite meal was buttered wheat toast, fruit, and tea. My tummy was happy, mom was content, and I didn't have to work hard. It's still my favorite fast food meal.

How often do you grab McDonalds or Arby's because you're out of time? Is it really faster to drive across town than to pop bread into the toaster. Top toast with peanut butter and add a banana or an apple and you've got a healthy FAST meal, that only cost you pennies. No, you can't do that for every meal, but why abuse the fast food privilege? Why not use that option only for special times, when you really want to spend that money?

The best part of Fend for Yourself Night, it teaches children to prepare simple foods for themselves, a skill they'll need in college, that will keep them healthy and well fed on a limited and very SMALL budget?

I remember my daughter calling home and saying she'd been careless with her money, but she still had food for the last week of the month. I asked what she had, and she told me she still had peanut butter, two cans of tuna, two cans of pineapple, a case of ramen noodles, several cans of veggies and fruit, a can or two of pudding, and a box of tea bags. She had eighty-five cents for a loaf of bread. She restocked her supplies on the next paycheck, and was happy eating at the dorm until she got paid.

Smart Consumers Save Money with Gas Rebate Credit Cards

2008-02-13T01:50:00.000-08:00

Help offset rising gasoline expenses by paying with cards that pay you back each time you fill up the tank.

Prices at the pump continue to skyrocket, leaving most Americans frustrated and stressed by budgets that are strained to the limit. High gas prices shocked consumers and made headlines a couple of years ago, but by now everyone knows that they are here as a permanent reality. The only news worth mentioning nowadays is practical advice on how to survive the rising expense of fueling our cars, trucks, SUVs, recreational vehicles, boats, and other kinds of miscellaneous gas-powered equipment.

But many consumer experts recommend a simple and straightforward solution that offers a direct way to address the problem. Credit cards that offer cash rebates and other benefits are not only safe and convenient for buying gas, but they offer significant savings that go directly back into your wallet, not into your fuel tank. By buying gas and other items with the right card - or the right combination of different cards - you can offset the financial impact of overpriced gasoline without paying added fees, high interest rates, or hidden costs.

The credit markets are in turmoil because of the spillover of problems related to bad mortgage loans, and banks and other lenders who offer credit cards are competing fiercely to get your business as their own profits get pinched. Take advantage of their generous offers while you still have the chance and you can leverage the bleak situation to your own advantage by paying less for gasoline.

For example, dozens of major credit cards now offer a wide range of benefits, cash-back offers, and other incentives for using plastic, including these:

* Apply for some cards and they will give you $50 back after your first purchase.
* Many cards pay 5 percent or more cash back to you for ordinary purchases such as gas, groceries, or prescription medications at the local drug store.
* Some combine these rebates with other perks; such as coupons you can redeem for merchandise or travel upgrades.
* The more you use some cards, the more cash you earn. Use these types of cards often enough to qualify for preferred card user status - which isn't hard if you buy gas on a regular basis - and companies will even throw in other gifts and cash rewards.
* Lots of cards do matching programs; so that for every dollar you spend you get a bonus point. Many offer double rebates, to double your points or cash savings.
* Apply for many of these popular cards and you can get a free signing bonus worth, for instance, as many as 12,000 bonus miles that you can redeem for travel awards with any airline without restrictions on which dates you fly.
* An important feature of the best rebate cards is that they do not charge you any annual fee, unlike most frequent flier or frequent user programs that charge as much as $100 or more just to join and be a member.

With lots of these cards you can also get zero percent financing for up to a full year on all your purchases and credit card balance transfers. So if you have costly credit card debt you can switch it to a rebate card and make money in a matter of minutes. Say, for example, that you owe $3,000 on a credit card that is charging you 18 percent interest. Shift that balance to a zero percent card and you automatically save yourself 18 percent interest, which is approximately $540 or nearly 50 bucks a month.

On top of that instant interest rate savings you will, of course, still be entitled to whatever rebates and benefits the card offers. That kind of consumer strategy is like giving yourself an unexpected payroll raise. Soon the credit card company of your choice will be pitching in to pay for your gas each time you fill up the tank. That is a great way to manage your finances in partnership with those who issue plastic, during these challenging economic times.

How To Improve Your Finances?

2008-02-11T02:11:00.000-08:00

Managing finances is an important way in order to improve the financial affair where one is safe from unnecessary botheration and economical hassles. However, in order to have stable finances, it is very important to take care of one's expenses. Therefore, one has to be extra cautious while handling money right from the early days. If you are a university student, it is the best time to learn the financial management tips so as to avoid financial crisis in life. One of the first financial management tips is to use credit cards in a judicious way. It is important to understand the fact that using credit card not only adds to your credit but requires interests as well. Therefore, use of credit card should be made in emergency situations.

Given the fact that one has to repay the total amount to the creditor, one should take extra care while using the card. This realization will definitely help you in saving your money by saving you from unnecessary expenses. The second tip that should be kept in mind is timely payment of credit card balances. It is important to pay off credit card bills on time as they are the debts. If one is not careful with these bills, they will keep on adding to the credit cared score as well as pile on as a part of debts.

It is important to know the fact that credit bills can create a financial mess in your life. Be careful while handling bills. If you are irregular with your bills and do not care to pay off them on time then you are damaging your credit history. A poor credit history will ruin your chances for loan at an affordable interest rate. Therefore, a clear eyed realization is important while handling the credit bills. Also, it is equally important to develop a healthy habit of saving money. This is a wonderful way of imparting yourself a good habit that will take you a long way while saving you from financial difficulties. If you keep a tab on your unnecessary expenses, you will save your money.

Apart from saving your money, you will be inculcating a good habit. Keep your money in a bank account that helps you in continuing with your savings. However, while going for a saving account, make sure you check the status of an account that does not demands an accounting fee and lays the criteria for minimum balance. While opening an account, make sure you do keep a strict eye on your incomes and expenditures. In case you do not have a fixed and regular source of earnings, it is important to be judicious with one's expenditures. In such conditions, one should save from splurging in excess and try to restrict one's expenses to the basics. Indeed it can be a tough decision yet it will help you in increasing your investments. So, the next time you have extra money, try to use it seriously.

An Unconventional Success Story

2008-02-11T02:10:00.000-08:00

This morning my wife got a frantic call from a friend asking if we knew anyone in the medical field who would be willing a write a referral. Asking for more details, my wife listened as our friend told her that her daughter's asthma had been terrible lately and nothing the doctors were doing would help. She was up every night giving her breathing treatments and knew her daughter needed to see a specialist. In contacting her primary physician, she was told her child needed to come in again in order to receive the referral.

Exasperated the mother told the receptionist that there was no need, the doctor was well acquainted with her daughter's health issues and had recently seen her for the same thing. "It's all about money," she cried. "You want me to come in so I can pay, you don't need me to." The receptionist humbly replied that yes, it was all about money, but unfortunately there was nothing she could do about it and was sorry.

So what advice did my wife offer - something unconventional - acupuncture. She got her in touch with a personal friend who is able to treat asthma. Unconventional, yes, bureaucratic, no. Helpful, yes, the most obvious choice, no.

Tradelines are not conventional, nor are they always the most obvious choice, but do they help - absolutely. Unless you were born yesterday, you have learned the shameful fact that everything is about money. You got the loan you did because of money. Your lender made quite a bit off of yours. Perhaps you saved a bundle getting your option ARM, but your resources have run out due to adjusted payments, loss of a job or other personal circumstances. There is no money. Often the answer to our problems are most unconventional.

Ted Stearns, owner of TradeLine Solutions, a San Diego based credit aide company, is not a newcomer to the world of finance. His experience began as an options and futures broker with Currency Trading International about 12 years ago. Since then he has been a financial advisor who hosted a live radio show on AM 1000 KCEO for four years, educating callers and listeners on stocks, bonds and various investments. Over the last five years he has delved into the nationwide mortgage business informing both clients and lenders alike in the arena of purchasing and refinancing.

Simple Ways to Prevent Data Loss

2008-02-08T01:34:00.000-08:00

Sunday night, tomorrow you have an important presentation to deliver or assignment, then without any warning of any kind your screen freezes, you reboot the system after no response from the keyboard or mouse.

No problem the file will be auto saved, hang, what's this message hard disk drive (HDD) not detected ?! gulp, I'll try a reboot, same error!

This kind of scenario can make any IT battle hardened user fold on the spot, but it need not be this way.

The bad news

All hard drives have finite lives and MTBF (Mean Time Between Failure) as many other products, however HDD will fail when you least expect it or when it hurts most.

Magnetic storage media aka HDD are electro, mechanical devices which operate at the envelope of mechanical tolerances. What do we mean by this? Well modern hard drives spin platters at speeds from 4200 to 15K which are either metal or glass and covered by a process called spluttering a magnetic sensitive material, now the part which decodes and encodes data directly to the platters are part of the head stack assembly, now the tolerance bit, these heads have to repeat ably go to specific locations on the media quickly (less than 10MS), here is where issues can really happen. The heads "fly" above the platters and contrary to popular belief the disk enclosure is not a vacuum, or how could the heads "fly" above the surface?

Now, due to heat, vibration, shock or system malfunction the head stack assembly may place the heads directly on the surface in a inappropriate place and way, thus damaging the surface; you have what most people would call a head crash.

The heat is on

Ok, so heat really can cause issues for your hard drive and here is why. Excessive heat to the media can cause the thermal expansion to the head stack assembly, thus "shifting" the precise alignment. Magnetic properties also change with thermal variations, and finally the PCB (printed circuit board) can enter a thermal runaway scenario; The motor control chip gets warm, the ambient and working temperature of the drive increases, this affects the resistance to failure which is often the main failure type of PCB failure.

R&D Companies and Data Loss

2008-02-08T01:31:00.000-08:00

R&D Companies and Information Technology (IT)

R&D companies, as the acronym suggests, have to engage in a lot of research. A very high level of research is required to come up with a new invention. Therefore, researchers tend to use a lot of data to test the various outcomes and hypothesis. Due to limitations posed by the traditional way of storing data, R&D companies are increasingly storing their valuable data electronically.

R&D companies in the field of medicine tend to painstakingly undertake several experiments. The results of these experiments have to be recorded, evaluated, and maybe even published. While computers can help the researchers to record their findings, Internet can allow the researchers to publish their results with minimal effort.

Since the laptops offer the required mobility while performing research and analysis, most of the researchers in the defence, agriculture, pharmaceutical, defence, aerospace, and biotechnology industries tend to use laptops. Therefore, most of these companies tend to have a dedicated IT department. If the data is mobile, as is the case with laptops, the chances of losing the data are also higher.

If R&D companies are exchanging the research data across the Internet, they also need to be sure that the server is secure because any malicious user can easily misuse the data. More often than not, the data related with R&D is extremely confidential. Therefore, most companies tend to use the latest IT to help them keep their data secure.

Why is R&D Data Important and Valuable?

R&D is a field that requires large amount of investment because of the sheer nature of the industry. In addition, it is not a field that reaps immediate results. Research can take months or years before an appropriate product, equipment, or idea can be developed. Therefore, while the investment is huge, the results may not be apparent. Any data loss or leakage can ruin the entire capital and infrastructure investment.

Companies invest in R&D to stay ahead in the market competition whereas governments invest in R&D to ensure that the country is ahead in technological advancements or for national security. While most companies have to be extremely cautious about their R&D data so as to avoid data or idea leakage lest the competitor steal the idea, the government has to protect the R&D data to ensure that there is no threat to national security.

Protecting the Valuable R&D data

It is imperative to protect the R&D data because of the nature of the data. Most companies create centralised reporting systems so that data can be gathered comprehensively in one place. This minimises the chances of losing your data because the flow of data is restricted.

Some R&D companies do not wish to risk exchanging their data on public networks. Having personalised servers that allow you to exchange data within company in the most secure manner is a very good idea. You can always test the security of these measures and upgrade the security when the need arises.

Data encryption is the most important measure that R&D companies should make use of. Data encryption allows your valuable data to be encrypted before it leaves the secure premises of your office via a network server. Only authorised users with the requisite passwords can gain access to this data. Encrypting the data is the best way to minimise your risk against hackers, data theft, and malicious users.

R&D data is not the kind of data that can be created again once its lost. Therefore, the R&D companies will have to ensure that their valuable data is always backed up appropriately. Using manual backups may not be a good idea because it leaves room for error. Your best bet would be to either use Continuous Data Protection (CDP) or Automated Remote Backups.

CDP technique mirrors the data on two disks. Therefore, even if something happens to one disk, the other disk remains protected. Automated remote backups ensure that your data is automatically backed up and stored in a location that is geographically distant from the primary office site. This ensures that the data remains protected even if a natural or man-made disaster such as terrorist attack occurs at the primary office site.

What to do in the Event of Data Loss?

If all your data protection measures fail, you will need to hire the services of a professional data recovery company. Since the nature of the lost data may be confidential, it would be best if you sign a confidentiality agreement with the company. In addition, make sure that you hire the services of the best company because the cost of recreating your lost data can be much higher than the cost of recovering your data.

Top 10 Excuses For Not Saving

2008-02-07T01:06:00.001-08:00

With the current writer's strike, there must be a few others out there hungry for a new Top 10 list. So, from the home office in Portsmouth, New Hampshire, here are the:

(followed by the reasons these excuses are lame)

1. I'll save more later (when I make much more money).

2. But I really do need this.

3. Life is too short.

4. What's another $X?

5. But I don't want to be cheap!

6. My friends don't save.

7. Mom and Dad help with all that.

8. I wouldn't have any idea what to do with any money I saved.

9. I have so much debt!

10. My husband/wife/partner/accountant/financial planner/mailman/crazy roommate/barista/dog is in charge of my household finances.

And now the matching top 10 reason those excuses are lame:

1. Did you remember saying that two promotions ago?

2. When was the last time you used it? Okay, how about where you put it? Do you even own it anymore? Do you remember what it was?

3. Then your retirement may be too long.

4. Depends on how long it takes to pay it back. Could be many times $X.

5. Me neither. Instead, be fiscally responsible.

6. Do you really need me to respond to this? Didn't you have a parent say to you 1,000 times growing up "If all your friends jumped off the bridge, would you?"

7. Good for you. Count your blessings. When you're done, hit 'em up for something else, like a financial education.

8. That's what we call a good problem. When it comes to investing, remember: how you invest matters far less than how much you save.

9. Then you already know that you need to pay it off. The only way to do so? Spending less than you make. Doesn't that kind of sound like saving?

10. You can outsource love/tax prep/technical expertise/postal delivery/loud music/a mean espresso/love. But you can never delegate financial responsibility.

Creat a Working Budget for You

2008-02-07T01:05:00.000-08:00

A budget is the key to getting yourself back on track financially. If you follow the steps I am outlining for you then you should be able to create a budget that is designed for you.

The first thing that you need to do is agree to write down everything you spend for the next month. This mean everything even a soda from 7-eleven. Every time you spend money on anything you need to write it down.

I suggest that you do this either on the computer using word or excel, or in a note book. The first thing to do to get yourself organized by creating spending categories. I am going to list out categories for you in just a moment but before I do that I want to stress that you write everything down and this is why.

In order to truly understand what you spend your money on and what things you are willing to curb and what things are essential to your lifestyle it is important to first see where all the money goes. You may know what you spend your money on but I guarantee after a month of writing it all down you will see you spend more than you should.

Okay here are the categories for spending. You may have others or not even use some but this is the list I have used personally and with my clients when I worked as credit counselor.

Mortgage,,
Condo/association fees,
2nd mortgage,
Equity loan,
Car payments,
Student loan,
IRS payments,
Personal loan,
Other loans,
Credit card payments (list each separately),
Groceries,
Eating out (this includes 7-eleven and such),,
Tuition,
Daycare,
Medical/dental expenses,
Health and beauty (manicures. pedicures, haircuts, ex....),
Heat/oil,
Electric,
Cable,
Satellite,
Phone,
Internet,
Cell phone,
Water/sewer,
Clubs/organizations (usually monthly dues),
Gym,
Entertainment,
Holidays (estimate yearly and divide by 12),
Birthdays (estimate yearly and divide by 12),
Gas for vehicles,
Tolls / easy pass,
Newspapers / magazines (add total and divide by 12),
School expenses (sports, lunches),
Clothing

Some of these categories might be an expense only a few times a year. The reason I include them is that I want you to get in the habit if living within your means. This may take time and practice like anything else you need to learn how to spend money, but it will come with time and patience.

Take the time to write down everything you spend for the next 30 days. I suggest that you begin with the first of the month and then go from there.

Once you have 30 days worth of data you can begin to look at it and see where the money is being spent. You will need to look at the list and decide where you are going to trim the spending. Perhaps you eat out too often or spend too much money at the mall.

Start with expenses that you cannot control such as the fixed ones like the car and mortgage or rent. Then move to the ones you have some control over such as food and entertainment. There may even be some categories you need to eliminate such as eating out.

Are You Frugal or Cheap?

2008-02-06T00:13:00.001-08:00

A lot of families are facing tighter budgets right now. It's not just rising gas prices. It's mortgages they didn't realize they could afford. It's jobs lost to downsizing. It's a tough economy in many places right now.

Times like these make living a more frugal lifestyle not only more appealing, but more necessary for many families.

Frugality is not just about being cheap. In fact, being cheap is one of the traps of trying to be frugal. Choosing things that really aren't of a reasonable quality can quickly derail your frugal efforts to spend less.

Sometimes the situation is urgent enough that it makes sense to buy flat out cheap. If money's tight and that's the only way you're going to get what you need, what other options are there, really? But when you can afford to spend the extra to buy something that will last, and that's reasonable to your need, it makes a lot of sense to do so.

You should also figure out what you're paying for that you aren't making enough use of. Long distance phone plans, for example. You may have one and not be making enough use out of it, or you can find one that better suits your needs. Go through your phone records to figure out how much you really need. Don't under buy, but don't get the biggest plan just because it has the most minutes.

Being organized can also help you to be frugal.

For example, running as many errands as possible on one day can help you to save money on gas. If you do as I do, and try to have that day be on the day you know you can get your best discounts on shopping, you'll save even more money. My local grocery store has double flyers on Wednesdays, so there are more specials to choose from.

Keeping your home organized means that you will have a better idea as to what you really need to buy when you shop. It can also help to keep things around the house in better condition. And of course being organized can save you tons of time in just looking for something that isn't where it belongs.

Buying clothing is a great area to remember to be frugal rather than cheap.

Which is better? A $10 shirt from Walmart or one bought from a thrift store? If you're good at shopping, you can get some amazingly inexpensive clothes from thrift stores that look like new and are higher quality than you would get buying "cheap" elsewhere. You may even pay less. It's just a matter of finding the right thrift stores for your area. Some carry amazing merchandise at great prices. Others have those gems more rarely.

Have Your Early Retirement

2008-02-06T00:06:00.000-08:00

Are you planning to work for another 30 years in order to have your own retirement? 95% of people are using the 30 years plan in order to have their retirement.

Many people believe that this is normal and this is the only way to have your retirement. They strictly follow this formula, study hard, get a good result, join big companies, work hard for 30 years and enjoy their life with their retirement fund.

I am not saying that this is not true and giving any comment for this retirement formula. What I want to highlight here is in fact, you have many choices in getting your retirement.

Imagine, you work hard and smart for 5 years and the result from your hard and smart work is, you will be paid each month for life regardless whether you're working or not! Just work for another 5 years and you will be totally financially free and get your early retirement without working hard for 30 years!

It's true! In fact, almost everyone who has a burning desire to have their early retirement can easily achieve the goal of financial freedom within 5 years.

This is not impossible mission. Internet is the tool which will help you to get your early retirement in next 5 years. Internet not only shorten the distance of communication around the world but also shorten the gap of rich and poor.

If you have no money to start a business, you can consider to start your business online. You don't need to have your own product or service, by just become a reseller or affiliate, you can start your internet business immediately with some little money (normally less than $100)

Some affiliate programs even offer you a free affiliate sign up. In other words, you don't have to pay any single cent to get a reseller licence, and they even offer you an automated marketing system to auto-pilot your internet business. Now, you can even earn money 24 hours even you sleep! No kidding!

Currently, I'm personally using a system to fully automate my marketing process. This system is easy and simple for everyone to use. The best is, with this system you can easily earn a residual income each month which will help you to have your early retirement.

Of course, this is not the only way to your early retirement. There are over thousands of programs online which show you how to make money, earn residual income from their programs. Be aware of some scam programs, especially those programs promise to earn you 1,000% of return in one year!

Judgments-Liens-and Other Legal Issues

2008-02-05T00:02:00.001-08:00

In the field of debt collection and delinquencies, judgments and judgment risk factors are a very real concerns. Will a creditor sue and seek legal judgment against me? If he does, what type judgment might it be? What exactly is a judgment and what can I do about it? These are just some of the questions answered in this judgment article. But please note. The content of this article is for consumer knowledge of judgments and legal lawsuits only and it is assume the reader will act responsibly towards his/her debt.

RISK FACTORS

Collectors must abide by the their state's Statute of Limitations (SOL) for the amount of time to sue a debtor for payments. Therefore a consumer's first step is determine if the SOL for collecting a debt has past. If the SOL has not passed, the consumer must weigh the risk factor of a judgment against them when determining if they should pay a delinquent debt. A judgment could allow the creditor to garnish wages or hire an authority to come get your property. However, it is possible it may not be in the creditor's best interest to do so. Sometimes it is simply too much time and expense for a creditor to take action against you. But the possibility does exist.

As stated at Credit Info Center: "The risks of judgments, garnishments, and property seizures must be properly balanced against the likelihood that such drastic collection measures will ever happen. The risk, and the decision to take that risk, are entirely yours if you're in such a position."

DEFINITIONS

JUDGMENT - a decision issued by a court at the end of a lawsuit. If in the favor of the creditor it not only verifies the debt but can increase the debt by adding interest, court costs, collection fees, and attorney fees an may extend up to 20 years on a credit file. A decision in favor of the debtor makes the debt uncollectible and may include reimbursement of legal costs to the debtor.

JUDGMENT PROOF - a debtor has little or no property that a creditor can legally take to collect in the foreseeable future.

PRE-JUDGMENT ATTACHMENT - a legal procedure which lets an unsecured creditor tie up property before obtaining a court judgment.

DEFAULT JUDGMENT - If a consumer is sued and does not file papers in response to the lawsuit in the prescribed time limit, the plaintiff can ask the court to enter a judgment against the debtor and is an automatic loss of the case. A default judgement can be set aside but this is unusual and circumstances must be notable to justify such a turn.

LIEN - a lien is a notice that a creditor has attached property. The consumer cannot sell the property without paying off the creditor because the lien makes the "title" cloudy.

SECURED DEBT Property that is purchased using the property itself as collateral on the loan is considered secured. Credit cards are considered unsecured but tax debt is considered secured.

What can a creditor do?

Creditors from secured debts may be able to obtain a judgement for repossessions. Mortgagors can depose and landlords can evict. Garnishment or taking of wages is an option of any creditor. The decision to sue a debtor is usually based on the amount owed (usually over $500), the cost of getting it back, and whether there is a reasonable expectation that something can be collected.

If the matter can be sorted out with the person making the claim before it goes to court, it will be cheaper. If you lose in court, you risk having to pay the other side's costs. Even if you agree that you owe the money but don't agree on the amount, you can try to negotiate the matter before it goes to court. If you reach an agreement, you will need to submit an agreement as to judgement form in the court, which tells the court that there is no need to have the matter heard.

Some judgments can be fought by challenging their validity. For example default judgments at times can be reversed by claiming the debtor was never served or was ignorant of the facts. Before reversal, however, you must back up the claim with facts. Judgments which include selected stipulations can be reversed if the debtor can prove coercion or misrepresentation. Of course winning an appeal in a higher court can reverse a decision as well.

Payment of Judgments

Once a judgement has been issued, settlement may still be an option if the debtor and creditor can come to terms. This is often the case when dealing with a temporary judgement-proof debtor who will have assets freeing in the future. The creditor might want the debt cleared sooner and might be willing to settle.

Contrary to popular belief, a judgement can be removed from a credit file by the creditor. This requires a fair amount of work and therefore the creditor would have to be motivated to do so in some way.

Money - Financial Vagueness

2008-02-05T00:01:00.000-08:00

Financial vagueness what is that is it a new kind of food you eat?

When you are vague about our finances, you push away the things that can improve them.

Excessive debt

One of the ways financial vagueness is showing up each day for you is in the debt that you are carrying.

Staying in debt hurts you and not the banks.

The banks are happy to collect a very high interest and if you cannot pay they can take away part of your salary.

Of course this will affect your credit rating which will make it difficult to obtain credit in the future. Some will go as far as declaring bankruptcy.

Resistance

Resistance to change is one of the many (big) difficulties that many people have in getting out of financial vagueness.

Unpleasant emotions

When you start looking at your financial debts you may bring to the surface unpleasant buried emotions. Most people will say that they did not know that these emotions were even there.

You may fear being embarrassed in front of others like family, friends, colleagues or the neighbours.

Poor money decisions

It is not always easy to accept and move on once you realize that you have made a poor money decision.

It is not healthy for your future to blame yourself or love ones because you were afraid to say stop.

Not having a solid love relationship where decisions to buying big items are not discussed can result in lots of arguing.

Financial awareness

Financial awareness starts with the willingness to break out of the cycle of financial vagueness.

Becoming financial aware is taking responsibility for how you have been treating yourself.

Choosing to become an adult and start putting aside 10% then 15% of your earnings can rebuild your sense of security.

Getting passed the discomfort

You can get control of financial vagueness when you start to get passed the discomfort and taking the time to look at all your bills.

Small steps

If you were to go to the gym and started working out, your trainer would suggest starting slowly. This is the same with finances. Start reading articles in financial journals even though you may not understand the terms used.

Conclusion: Breaking out of financial vagueness starts with a willingness to change and accepting to create a new identity.

Reasons to Keep Your Personal Finance Separate from Your Business

2008-02-03T23:21:00.000-08:00

One of the least understood of small business principles is how to keep your personal finances separate from the business's financial figures. Keeping them separate is not about strict requirements but more about maintaining an attainable comfort level. It isn't your comfort either you need should be concerned with. It's the comfort level of the auditors at the IRS you should be most concerned with cause they love nothing more than clear business records.

It's as simple as this type of thinking: If your records are clean, your audit will be easy. Separate business and personal accounts keeps the IRS carefully focused on the tax audit they were assigned to do. When you have business and personal funds in one account, those same business records are now suddenly right out in the open before an auditor who may discover problems quite to what they were looking for. Here are some ways you can keep them separate:

* Your business is a hobby - There are several federal and state government policies that stipulate only businesses are allowed to deduct business expenses. Now let's say your business is more of a hobby and not a means to make considerable money. You may have a difficult time telling the government that you are indeed running a business and not a side hobby. Many business owners compound this problem by using a personal bank account too.

* Tax season is a nightmare - Your accountant might hate you more for this reason because it causes quite the mess. If you are a small business owner it is important that you keep your personal finances separate from the business. This includes all types of transactions. The reason why your accountant will really dislike you is because by not separating them, you creating an awful lot of work for him to figure everything out.

* Limited audit paper trail - While it is recommended that you keep all your business and personal finance accounts separate, that doesn't mean you need to keep all your records and paperwork separate. You still should, however. Everything you have on file needs to be accurate, complete, permanent and showing a clear record of income and deductions. The last thing you want is a jumbled mess that causes nothing but IRS problems for you. Keeping separate business statements and records from your personal account establishes a clear audit trail.

* Lack of professional attitudes - The only way people will take your business seriously is if you do too. Accept checks made out to the business and not your own personal name. This establishes a divide between you and your business.

* Forgotten deductions - Don't even get me started with the disaster which will be your account statement. Doing all of your small business banking on your personal account becomes a mish mash of different transactions. You then need to spend time decipher which goes to what account. You run the risk of miss deductions you are entitled to. This kind of record keeping will cost you more in time, money, and missed deductions.

How To Make Exponential Financial Progress By Focusing On Simple Things

2008-02-02T01:34:00.001-08:00

There's a guy I know who is always banging his head against the same wall... ouch!

He just doesn't get it. Each month he reads a new financial book or attends a new "get out of debt" seminar, but his results are always the same -- zilch.

This has been going on for years and his debt continues to grow, along with personal and family frustrations.

Do you know someone like that? Are you like that?

The way he's going now, a month of one-on-one with Dave Ramsey wouldn't help.

I used to be on a similar path. But then everything started to change -- for the better.

I started to do exactly the opposite of my friend and my debt started to go down and my peace started to go up.

Here's what I did and here's the advice I'd give you. There's a way to get out of debt and grow financial peace exponentially.

And this way always works.

When you apply this advice, your relationship with God and those closest to you will get better, your earnings will grow, your debts will diminish, and your lifestyle will improve.

Your life will quickly transform when YOU start to apply this principle.

Here it is.

WHEN YOU BUILD YOURSELF CONSISTENTLY, MONEY FREEDOM WILL GROW EXPONENTIALLY.

Remember this: every level of income DEMANDS a different you. Every step along the path to Debt Fr.ee Living God's Way REQUIRES a different you. You can't get to where you want to be by staying where you are.

It's really simple. The fastest way to get out of debt and begin to enjoy Debt Free Living God's Way is to learn and APPLY faster. Ask yourself this: What is one financial habit I can start improving RIGHT NOW?

Start small. Take one step at a time.

Write this "one way" on a note and put it on your refrigerator.. What will you write? What is the one small step you can take today?

Honestly, you don't need anyone to give you any suggestions. You already know what it is. You just haven't decided to do it. Maybe you've tried. But you've never done it.

By the way, I hate it when someone says they're going to "try" to change a financial habit. Why? Let me show you.

Look at the desk in front of you. Fix your eyes on something you are able to pick up.

Ready? Now "try" to pick it up.

What did you do? Did you pick it up or did you NOT pick it up? You picked it up, right?

It's the same with financial habits. Don't "try" to do it, just start doing it. "Trying" to change a habit will most likely mean that habit won't change.

You have to decide. "I'm finally ready to ACT on what I know I should do. It's time! I've had enough of this debt stuff. I've had it with being out of God's will in this area. I'm tired of feeling guilty before God and those I love. I'm no longer going to try. I'm just going to do it. God please help me because I'm just going to DO IT."

Build yourself consistently by increasing your knowledge and understanding of what God has to say about finances. Then START to apply. Don't TRY. Just DO IT.

Take action NOW on one financial principle or one practical application and stay with it until it becomes a habit (about three weeks) then move on from there.

You can and will begin to get out of debt. You can and will learn to experience Debt Free Living God's Way.

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Bob Louder is considered a leading biblical finance expert, and has been working in the area of biblical finance for 20 years. He's been endorsed by some of the most high profile and successful Christian authors and teachers like Larry Burkett, Ron Blue, Dave Ramsey and others.

Bob is the creator the "4 Weeks Money Mentoring Program", a unique online training for transforming money management and wealth building efforts into a highly effective financial strategy - in 4 weeks flat. Its power comes from focusing on biblical principles combined practical application, delivered in a format and pace that makes it easy to get results.

Great Ways To Save Money

2008-02-02T01:32:00.000-08:00

Everybody wants to save money, but the way you do it versus the way someone else does it may be very different. There are lots of ways to go about saving a little extra money every month and we are here to give you a few ideas.

Try to figure out what you purchase every month that you do not need and scrap it. Get a 20 ounce soda every day after work? Get out your calculator and multiply the number of days a week you work by how much that soda costs you every time you buy it and see how much money you are throwing away. Do you smoke? With packs of cigarettes averaging over $4 per pack, you probably spend over $1,000 to $1,800 per year just on this habit alone! That is enough for a decent vacation or in a lot of cases, a full house payment! Ditch smoking as soon as possible if you are money-minded.

Take a look at your subscriptions and ask yourself if you really need them. I have a World of Warcraft subscription that is billed to my credit card every month, yet I have not actually played it in a month and a half. Cancel any recurring subscriptions that you have that you are not making use of or, if possible, simply purchase the item whenever you do find that you need it.

Something else that is good to practice is paying yourself. As soon as you get your paycheck, take some of it and put it into your savings account. Pay yourself before you do anything and trust me, you will manage to get by. After all, how much does $20 to $50 really help or hinder anything?

Depending on what you want to save your money for, set a savings goal. If it is a small purchase, all you really have to do is find out how much the item costs and by when you want to be able to purchase it. If it is a larger purchase, such as a car or a house, determine how much you want to spend, how much of a down payment you want to have, and by when you want to be able to make this purchase. Be sure that you can attain the goal that you are setting for yourself within the amount of time that you set, because if it is unattainable, you will only become discouraged in the end.

And last, but certainly not least, the best way to save money in the long run is to simply live below your means. This means that you should not extend yourself financially even close to what you are capable of. Make sure that by the time you add up your housing, food, transportation, tax, and health care expenses that you will have more than enough left over to put in the bank. Remember that rich people did not get that way by overextending themselves financially. They were cheap and always hunted for a bargain and so should you.

Do You Need To Save Grocery Money?

2008-02-01T01:09:00.002-08:00

We would all like to save money on our grocery bill every week, but many of us have full schedules and we do not have much time to think about just what we can do to spend less money. The smallest actions can really add up over the long haul.

I know we all hate the idea of clipping coupons to save money, but they can actually help a lot as long as you know which ones are worth clipping. Do not bother clipping coupons you are not likely to use or those that have expiration dates that are sooner than you will be going back to the store. If you have the time and the energy, you can even double your savings with coupons if you keep track of when your store is going to have the items that you have coupons for on sale. Try not to use your coupons unless the item is on sale to get the maximum savings, but when you use them is up to you.

Cut out the cigarettes. We all know that cigarette smoke is bad for us and the people around us, but think about just how much money you spend every month on the habit. Sheesh! A pack of cigarettes costs on average around $4.50, including the taxes. If you smoke a pack a day, then you will spend around $30 per week or close to $1,600 per year! That is a lot of money that you are basically rolling up and setting on fire each year. Not only that, but if you smoke while driving or even inside your own home, you are ruining its interior. Selling either your vehicle or home later will cost you extra in cleaning fees. Do your budget a favor and kick the habit.

Do yourself a favor and leave the kids at home when you go grocery shopping. Kids are pretty persuasive, especially when they are misbehaving in the store, so they may try to get you to buy them things in exchange for being quiet. If you have to, make a list of things the kids want before you go so they will get what they want without having to argue with you over it in the store. Let each child pick one item and if they can't think of anything they want before you leave, then there is nothing they need.

Create a grocery budget every month. Go back and look at what you have spent on groceries the past 3 months and see how much you have spent on average. Determine how much you want to shave off that bill and shoot for it. The only way to know how much you are saving is to know how much you were spending before.