How To Fight High Gasoline Prices

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

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

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

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

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

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

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

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

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

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.