1. One of the most valuable personal money management tips I can offer is to use a budget planner. Having a visual idea of your finances makes the process of keeping track not only easier but more accurate and of course also provides you with that important feeling of control.
2. Opening an online savings account offers you a much higher interest rate than a branch account. Having no branch or ATM access also means you are more likely to keep your savings than dip into them on impulse as withdrawing from this type of account requires transferring the funds into your normal bank account and usually takes at least 24 hours.
3. Don’t save at the expense of your social life, but don’t let your social life stop you from saving. Studies show that people who include an allowance in their budget for enjoyable activities are more likely to stick to their budget and therefore save more in the long term. When you resent your budget and feel restricted by it you will be more inclined to break it and ultimately loose track of the entire thing. Remember, life is all about balance. Continue reading ‘10 Super Savvy Personal Money Management Tips For the Household Budgeter’ »
Archive for the ‘Budgeting’ Category
Have tried to sit down and work out a budget? Have you found that it is often more difficult than you have imagined? It can be mind boggling and often much more difficult than you can believe but it is not impossible. It is often best to start out by using little steps than if you start by leaping into a very strict budget.
Start by looking at the budget as a starting point. Use the budget to reach a small goal, and then reorganize your budget to reach a bigger goal and so on. If you can work into a budget you will find it much more attainable than if you trying to use your budget to reach a high goal that may take years to reach. Continue reading ‘Working Out a Budget’ »
Right about now is when businesses begin stocking up on inventory before the holiday rush. It is also a time when businesses need money the most. In the past, most businesses could rely on banks for short term loans to get them through. Sadly, those days are behind us.
In this financial climate, having a less than perfect credit score makes it that much more difficult to secure a short term loan. So what do you do? You can’t go into the busy shopping season without inventory.
What many businesses have discovered over the past few years is something called a merchant cash advance (or merchant loan). A merchant cash advance is a business loan alternative that allows businesses with less than perfect credit secure working capital even after they’ve already been turned down by the banks. Continue reading ‘How to Get a Business Loan For the Holidays If You Have Bad Credit’ »
Budgets are stretched beyond breaking point these days and this whole recession experience is new to many younger people, who may be just building a home environment and starting to raise their families. Certainly, there’s pressure on everything you do and you must strive to cut down on your costs as much as possible. This certainly includes the need to reduce utilities, which can often be the biggest cost of all.
One of the most important things you can do to reduce utilities is to use a programmable thermostat. These are not very expensive and, let’s face it, who remembers to turn up and turn down the thermostat when you are retiring at the end of the day, or coming back into the house after being away. You can certainly pay for the cost of the thermostat in a short space of time and its a wise investment.
We have so many appliances in our modern home that we are definitely spoiled. If you look back a couple of generations ago, all of the tasks we took for granted were performed by hand. If you really want to make a difference and reduce utilities, consider taking a leaf out of their book. Wash dishes by hand, for example and if you live in an appropriate area, try hanging the clothes out to dry. They will smell a lot fresher and last a lot longer. Continue reading ‘Go Out of Your Way to Reduce Utilities’ »
A lot of friends and acquaintances ask me how I save so much money and stay in great shape without even working out. The answer is always profoundly simple and always catches them off guard. Whenever I give them the plan to do it, they end up saving 300 dollars a month, minimum. If you want to save hundreds of dollars per month (or per week depending on your habits), as well as get in great shape, here is exactly how I do it:
You’ve got to cook meals at home using some key ingredients from grocery stores that you need to start picking up. For example – if you grab a drink at a coffee shop or starbucks in the morning, and get a crappy fast food meal on the way to, or back from work, you’ll already save 300 dollars (and your health) by switching it up. Here are they key ingredients you need to work it:
Beans (canned, any variety you enjoy)
Eggs
Bread
Tomato sauce (pasta sauce, jarred or canned)
Pasta
Oil (olive oil or canola oil)
Basic spices, such as salt, pepper, oregano, basil, etc
Vegetables that are ON SALE, such as potatoes, onions, peppers, etc
Meat (beef, chicken breasts, drumsticks, thighs, etc, fish) that are ON SALE Continue reading ‘Eating Cheap – How to Get by and Eat Well on 20 Dollars Per Week’ »
I enjoy a challenge…at first trying to live on less money made me angry, sad, thought God was punishing me, filled with self-pity…I think that about sums it up. Now, I have come full circle and I enjoy the challenge.
When I was in my 20’s I did the starving college student thing, I have done the newly married and just starting out thing. I thought I was done with that. In my 30’s and 40’s, I thought I had it all. The perfect husband, a house that was almost paid for, 2 kids, 2 cars, a job I loved. How that can all change in a blink of an eye still floors me sometimes. There really is a positive side, however. I love the challenge of living on a budget (not at first..as I said above). I love learning how to repair and reuse items. I love researching how to save money! Here are some very effective ways to cut your spending.
1) Unplug!
Did you know that if you leave your computer, cell phone, iPod charger in the wall socket, that it is using electricity EVEN when not in use? Unplug! Also, turn your computer off and do not leave it on ’stand-by’ 24/7. You can save up to $200-$300/ year by unplugging! Continue reading ‘10 Ways to Save Money in a Recession’ »
Christmas is a very emotional time of year for most people. It is the big crescendo at the end of the year that people can spend months planning for. It is a time of year when people feel like giving to others and caring about others. Everyone experiences different feelings and emotions during this time and these can include feeling stressed, happy, excited, sad, joyful, lonely, depressed, elated, worried etc.
We all know is that modern day marketing is built around pulling on people’s heart strings and playing with their emotions. During Christmas we see a lot of this, especially with t.v., radio and print advertising. For example we have all heard lines such as:
“Show mum you love her by buying her . . . this Christmas”
“Give your children their best Christmas yet by buying them . . . ”
“The one you love deserves to be spoilt this year. Buy her a . . . ”
“Forget the socks and jocks, what he really wants from Santa is a . . . ”
“Don’t let YOUR children miss out! You must buy them . . . this year” Continue reading ‘Saving Money Tips – Don’t Get Caught Up in the Christmas Hype’ »
In previous articles, I mentioned to you about using cash instead of credit for one month. That will interrupt your credit card habit and show you that you probably can live without it.
Once you do that, it is time to get serious.
Think about life before easy credit came along.
If you wanted something, you had to save up for it. You might find a place that would let you have an account, but you definitely had to pay it off within a reasonable time, unless you wanted the store owner not to let you shop there anymore. Continue reading ‘This Easy Tool Can Help Your Wallet’ »
What is a Money Coach and why is it successful? It is a long-term process of goal setting, training, and encouragement to help you take focused action to achieve your goals. It is a system of Money Coaching consisting of a series of courses and meetings with a Financial Life Coach designed to help you get out of debt, maintain a debt-free lifestyle, and arrive at a place of satisfaction and joy where you can say, “I love my life!” You may think that you have done everything possible to put your finances into good working order but find yourself in situations where the finances simply are not working, and you have no idea why.
Take for example this story: In spite of their double income, Matt and Sandra are accruing around $15,000 of credit card debt a year and neither can really explain where the money went. They manage the growing burden by transferring balances and refinancing, but they are frustrated at finding themselves in the same cycle year after year. Sandra has read many of the popular books in an effort to budget better and teach her children good spending habits, but in the end, she always found the advice impossible to implement. Continue reading ‘Discover How a Money Coach Can Help You Finally Say “I Love My Life”! – Part 1’ »
Some people love to haggle. Others find it distasteful. You can learn to haggle if you’re unfamiliar with the process. Certain places expect haggling like flea markets, ethnic stores and yard sales. You can haggle at any swap meet, trade show or through online classifieds like Craigslist or Kijiji. Other places like bigger chain stores and grocery stores will not be receptive to haggling. It’s not worth trying to get a discount on toilet paper at Wegman’s. However, it is possible to haggle at larger retail outlets if there is a flaw in the item. If a garment has a flaw that you feel you can fix or live with, ask the clerk if you can get a discount. Otherwise, that item will probably not sell with the flaw. If you frequent a larger retailer, you can ask the manager if he can offer you coupons or discounts as a preferential customer. It never hurts to ask.
Cash can seal the deal. Not everyone pays cash these days but if you are shopping at smaller retailers, it can save you money to check if you can have a discount for paying cash. Retailers pay anywhere from 2.5% to 5% to credit card companies. You can always ask, “If I pay cash, will you give me a discount?”
You can ask for a discount when buying two of anything: “If I buy two of these, what kind of break can you give me?” If you’re not into buying two pairs of, say, shoes, then bring a friend who is buying shoes and get a discount for both of you. This works for two of anything. This can work for larger quantities as well. Find the person in charge and say politely, “I’m buying a lot today. Is it possible to get a discount?” Show them how much you are buying and they may give you a break on some or all of the items. Continue reading ‘How to Haggle’ »