Investor Junkie is not only a site that teaches you to invest or educates you on your money, it also gives you reviews on various financial sites. From brokers to banks to do-it-yourself investors, this is a must visit site. Before using financial sites online, check out what an Investor Junkie review says about it.
Ready For Zero is a site that will help you get out of debt. It is the true light at the end of the tunnel.
Most of us old timers think we have a financial plan for our longevity and lifestyle. It doesn't hurt to make sure that our plan isn't missing certain essentials. There are so many things you may miss. Currently I am looking into a will, and the article offers helpful sites. Yes they even have the frugal one's favorite-FREE-but I'd still consult a lawyer, but to each their own.
Do you need tools to create your financial plan? I have you covered!
If you are frugal, that should not stop you from investing. Learn to invest a small amount here.
Monday, July 21, 2014
Sunday, June 29, 2014
Investing For The Future
In life it is wise to have multiple streams of income. This is a way to ensure that you have a source of income throughout your lifetime to meet your needs. We must prepare for our tomorrow today if we hope to retire comfortably. The idea is to make our money work for us making money rather than sitting idle and losing value.
Saving money is ideal, but if the money is sitting somewhere not earning interest, it is just losing value. There comes a time to take risks with our money and invest in the highest returns we can receive. At the very least, money should be invested in as high interest as possible saving, checking, CD and money market accounts. Find the highest returns and read the terms before you commit.
Lately I have been looking for greater returns since I will retire in about 5-7 years and am looking for greater returns. The most banks give is 1-1.5% return on money market and CDs, so I am looking at stocks, mutual funds, ETFs, etc.
I really don't like to talk about investments because they involve risk and I don't want to be wrong or right about your decisions. I made enough investments where I made money. lost money, and broke out even. It's a matter of learning from experience and what works for A doesn't work for B.
The earlier you start investing for your retirement the better your earning potential because you are able to take more risk. But the closer to retirement, the more of a conservative portfolio you want. Consult a professional financial advisor for all your investment needs.
Online investing and beyond I like Charles Schwab and Fidelity. These sites are novice friendly and will guide you to your investing needs. Granted that it involves mostly their products, but these are top names in the investing business.
A great way to start investing if retirement is not far away is to go with target funds. These are funds that have a target date to make money. One the best is the Vanguard Target Fund.
The stock market is a funny thing because most of us are clueless just what a money making tool it actually is. We also delay seeking advice from a financial advisor. Stocks I own or am watching:
EWI, GE, ODP and others There are winners and losers that is why diversification is recommended.
Any way you look at it everyone needs multiple sources of income to live comfortably. Simple ideas to build multiple streams of money can be found here, here, here, and even here.
Saturday, June 28, 2014
Spending To Save
Sometimes spending money can save you in the long run. Depending on where our money goes, there may be ways to save more by spending more. Lets say you have to have that espresso in the morning. It may save you in the long run by buying an espresso coffee maker, or replacing cable with a TV-streaming device. Read more here.
Find where you can save by spending more and learn a strategy here.
Find where you can save by spending more and learn a strategy here.
Monday, June 23, 2014
The Road To Wealth
When it comes to money, your personal habits can make or break you. The road to wealth isn't a difficult one, but it does require saving, investing and living below your means. The amount of time it takes to reach a "comfort zone" depends on when we start becoming disciplined to meet the requirements. The later you start, the more money you will have to save.
George Costanza on Seinfeld once made a statement that if everything he has done in his life has led to failure, then doing the opposite would lead to victory. Well that was the concept anyway. The point is that if you are living paycheck-to-paycheck or not saving anything, you might want to get your priorities straight.
Your paychecks priorities probably look something like this: 1. Bills, 2. Shelter, 3. Food, 4. Entertainment, 5. Unforeseen expenses, 6. Saving. Some list Saving as 10 or better, and by the time the check gets there there might only be pennies! Your top priority should be savings made automatically like paying a bill.
Start creating rules when it comes to money. It can be as simple as skipping one meal a week at a restaurant, to saving $500 a month. You make your own rules and you stick to them. Learn the money habits that lead to wealth. It's never too late to start, but it will require a greater commitment and contribution to reach your goal.
George Costanza on Seinfeld once made a statement that if everything he has done in his life has led to failure, then doing the opposite would lead to victory. Well that was the concept anyway. The point is that if you are living paycheck-to-paycheck or not saving anything, you might want to get your priorities straight.
Your paychecks priorities probably look something like this: 1. Bills, 2. Shelter, 3. Food, 4. Entertainment, 5. Unforeseen expenses, 6. Saving. Some list Saving as 10 or better, and by the time the check gets there there might only be pennies! Your top priority should be savings made automatically like paying a bill.
Start creating rules when it comes to money. It can be as simple as skipping one meal a week at a restaurant, to saving $500 a month. You make your own rules and you stick to them. Learn the money habits that lead to wealth. It's never too late to start, but it will require a greater commitment and contribution to reach your goal.
Sunday, June 1, 2014
Staying Secure
Last year I wrote an article about ID Theft. Keeping your life secure means securing any vulnerability that can steal your identity. In today's staying connected world it has become easier to have our IDs and lives snatched underneath our feet. A theft of your ID can set you on the road to ruins.
The best prevention is to secure your passwords. That would be the place to start. To go one further, you may want to change your passwords from time to time. Always have a winning strategy when it comes to passwords.
Because our identities can be stolen, there are many companies popping up that charge a fee to protect your name and identity. I am not going to advise using these services either way. I do have ID protection that is the right price-FREE!
Credit Sesame offers free ID protection and a free credit score. Combine this and your credit reports, it may be harder to steal your ID.
The best prevention is to secure your passwords. That would be the place to start. To go one further, you may want to change your passwords from time to time. Always have a winning strategy when it comes to passwords.
Because our identities can be stolen, there are many companies popping up that charge a fee to protect your name and identity. I am not going to advise using these services either way. I do have ID protection that is the right price-FREE!
Credit Sesame offers free ID protection and a free credit score. Combine this and your credit reports, it may be harder to steal your ID.
Monday, May 12, 2014
Financial Journal 2
Currently, I am doing a catch-up toward my retirement and plan to retire in 5-8 years. I would love to work at least until I'm 66 so that I can at least collect the full Social Security. I have a couple of retirement plans at work. Still, relying only on these sources won't make me financially sound in my golden years.
Although I have been wanting to do it for years, I've finally started investing in the stock market. That is where you will get better returns than savings and checking accounts, money markets, CDs and almost anything else a bank offers. My eyes were opened at 3am one day when I was watching this!
I had just opened a couple of CDs at my bank and now I am committed for 3 years for a mere 1.4%. For the same amount, if I had invested in stocks or mutual funds, I could have made at least 4%. Yes there are risks, but life is all a risk.
It doesn't take much to start investing. You can start little and get committed to contribute in a period of time. A good start number is $1000, and here are 5 Simple Ways to Invest $1,000 now.
When it comes to finances, education is a must. But money can be made and saved by reading beyond the personal finance books.
To start investing, you must have both short and long term goals. The long term will deliver the better rewards. To set goals, you might want to consult with a financial advisor, or do intense homework. Just be realistic and not clueless when it comes to money.
Know the basics of retirement planning whether you are in your 20s, 30s, 40s, 50s, and even in your 60s!
Although I have been wanting to do it for years, I've finally started investing in the stock market. That is where you will get better returns than savings and checking accounts, money markets, CDs and almost anything else a bank offers. My eyes were opened at 3am one day when I was watching this!
I had just opened a couple of CDs at my bank and now I am committed for 3 years for a mere 1.4%. For the same amount, if I had invested in stocks or mutual funds, I could have made at least 4%. Yes there are risks, but life is all a risk.
It doesn't take much to start investing. You can start little and get committed to contribute in a period of time. A good start number is $1000, and here are 5 Simple Ways to Invest $1,000 now.
When it comes to finances, education is a must. But money can be made and saved by reading beyond the personal finance books.
To start investing, you must have both short and long term goals. The long term will deliver the better rewards. To set goals, you might want to consult with a financial advisor, or do intense homework. Just be realistic and not clueless when it comes to money.
Know the basics of retirement planning whether you are in your 20s, 30s, 40s, 50s, and even in your 60s!
Sunday, May 4, 2014
When Saving Isn't!
I try to give advice on saving money by living frugally. For the most part I intend to empower you to save, make, and stretch your money as much as possible. Sometimes the ways we think we save money, are the ways that can actually end up costing us.
The coupon clipping was something I was aware of, but they can save you, if used on the items you need. Keyword is NEED!
Avoiding all budget saboteurs will keep your budget in check. When cutting items from your budget, cut the ones you truly don't need or can cut back on.
The coupon clipping was something I was aware of, but they can save you, if used on the items you need. Keyword is NEED!
Avoiding all budget saboteurs will keep your budget in check. When cutting items from your budget, cut the ones you truly don't need or can cut back on.
Saturday, May 3, 2014
Spending Freeze
Spending freeze is a great way to save some cash. I am trying to reach a 2-week spending freeze, but so far I have gotten to 4 days without spending. It does require some planning and discipline. The savings in the long run can really add up.
You can find tips on freezing your spending and how to get started. Depending on your current spending habits, successful spending freezes require planning. Start stocking up on food and eat at home and take your lunch to work.
Fill your gas tank and drive only to places you truly must. If you're not planning a vacation, you should take a 2-week vacation from work. This will cut the work travel. A vacation can also make a 2-week freeze a bit easier.
What doesn't count in a spending freeze are essential bills like rent, utilities, etc., unless there is a two week period where no bills are paid.
In the end, I consider any day that I make money and don't spend money is a victory. Many times I watched my weekly budget roll into the following week. I have banked and invested quite a savings.
You can find tips on freezing your spending and how to get started. Depending on your current spending habits, successful spending freezes require planning. Start stocking up on food and eat at home and take your lunch to work.
Fill your gas tank and drive only to places you truly must. If you're not planning a vacation, you should take a 2-week vacation from work. This will cut the work travel. A vacation can also make a 2-week freeze a bit easier.
What doesn't count in a spending freeze are essential bills like rent, utilities, etc., unless there is a two week period where no bills are paid.
In the end, I consider any day that I make money and don't spend money is a victory. Many times I watched my weekly budget roll into the following week. I have banked and invested quite a savings.
Wednesday, April 30, 2014
Retirement Common Sense
How many people plan to spend their golden years working at the Golden Arches, if you get my drift? It may sound funny, but when it comes to retirement you have to cross your 'T's and dot your 'I's. Otherwise once you sign on that dotted line and leave your job for the leisure life, you may find that the money you have won't sustain you.
This is why you'll probably retire twice, since your first retirement will run out quick. Lets set aside my pet peeve of spending money on gambling and scratch-offs, and think about miscalculations. It is best to start early, but conventional wisdom says that most people won't start saving in their 20s or 30s, and some will procrastinate beyond their 50s.
The earlier you start saving or investing for retirement, the less it will cost you in the long run. Relying on only that carrot known as Social Security Income may be a pipe dream unless you have other sources of income. SSI has been increasing their full retirement income age and many will be happy to take a pay cut of 25% by retiring at 62. This is great if you live to be 70 because after that you may regret retiring at 62.
Nowadays, people should realize that times-they-are-still-a-changing and this isn't your mommy or daddy's retirement. Financial planning for retirement means adjusting to unforeseen circumstances. Pay a planner if need be.
In conclusion, before you retire and give up work through self-termination, make sure you don't have to go back to work, when you retire!
This is why you'll probably retire twice, since your first retirement will run out quick. Lets set aside my pet peeve of spending money on gambling and scratch-offs, and think about miscalculations. It is best to start early, but conventional wisdom says that most people won't start saving in their 20s or 30s, and some will procrastinate beyond their 50s.
The earlier you start saving or investing for retirement, the less it will cost you in the long run. Relying on only that carrot known as Social Security Income may be a pipe dream unless you have other sources of income. SSI has been increasing their full retirement income age and many will be happy to take a pay cut of 25% by retiring at 62. This is great if you live to be 70 because after that you may regret retiring at 62.
Nowadays, people should realize that times-they-are-still-a-changing and this isn't your mommy or daddy's retirement. Financial planning for retirement means adjusting to unforeseen circumstances. Pay a planner if need be.
In conclusion, before you retire and give up work through self-termination, make sure you don't have to go back to work, when you retire!
Sunday, April 20, 2014
Shopping Savvy
We all need to shop for groceries and other material goods to fulfill our needs. Although I may have plenty to say about saving while grocery shopping, we should come to understand the tricks that are manipulating us.
I often find that the best deals for most things can be found online. Have you realized how the prices of razors has shot up over the years? It's no accident. Just ask Gillette. Try this instead. Cheaper razors and cartridges and just as good as Gillette's new and pricey monstrosity!
Find more online deals here, here, here, and finally here. There are sites in there that find local deals which can save you money.
Saving money when shopping is finding the best bargains on things we need. Look beyond the popularity or what the Joneses are buying and just buy what you need at a savings.
I often find that the best deals for most things can be found online. Have you realized how the prices of razors has shot up over the years? It's no accident. Just ask Gillette. Try this instead. Cheaper razors and cartridges and just as good as Gillette's new and pricey monstrosity!
Find more online deals here, here, here, and finally here. There are sites in there that find local deals which can save you money.
Saving money when shopping is finding the best bargains on things we need. Look beyond the popularity or what the Joneses are buying and just buy what you need at a savings.
Tuesday, April 15, 2014
Financial Journal 1
This is the start of a financial advice journal that combines everything from saving to budgeting to retirement and beyond.
Want to retire with a million dollars? Although it may not be too late, it may be best to start young.
April is a special month that affects our finances. beyond tax-time.
April should be the first month to get a free credit report. Notice I said "a" as in "one" credit report. Since you get a free report a year from each agency, get one from each one every 4 months.
What if money came with rules? If we lived by these rules we may be prosperous. Well money does have rules to live by.
Are you putting off financial obligations until 'someday'? Well someday never comes and here are financial tasks that need immediate attention.
Here's a site that offers tips and techniques to tweek your finances.
I use both banks and credit unions for my banking needs, I even bank online and take advantage of higher interest rates. Here's a way to find the right financial institution for your needs.
Want to retire with a million dollars? Although it may not be too late, it may be best to start young.
April is a special month that affects our finances. beyond tax-time.
April should be the first month to get a free credit report. Notice I said "a" as in "one" credit report. Since you get a free report a year from each agency, get one from each one every 4 months.
What if money came with rules? If we lived by these rules we may be prosperous. Well money does have rules to live by.
Are you putting off financial obligations until 'someday'? Well someday never comes and here are financial tasks that need immediate attention.
Here's a site that offers tips and techniques to tweek your finances.
I use both banks and credit unions for my banking needs, I even bank online and take advantage of higher interest rates. Here's a way to find the right financial institution for your needs.
Saturday, April 5, 2014
Beyond Retirement
If we knew exactly how many years we have on earth after retiring, we probably could predict how much money we will need to get there comfortably. A good piece of advice is to assume you will live to be 100. A good move would be to retire later or save enough to last until then.
It's never too late to enact strategies to boost your retirement savings. If you need to you could make extra money doing a leisure task. Most rental car agencies have jobs perfect for retirees such as moving and picking up rental cars from other locations.
Never underestimate the power of volunteering. It tends to open doors and connections to affluent people that can help you in the long run.
Steady income stops at retirement unless we have multiple streams of income. Learn more here. The point is to have other income to rely on and making your money work for you. Rewards are greater if multiple sources are started earlier in life. Some are almost too simple.
If there is ever a time to be frugal, it's when we retire. Frugal living isn't a bad idea at any age. The name of the game is not to run out of money, especially in retirement. More on frugal living here and here.
It's never too late to enact strategies to boost your retirement savings. If you need to you could make extra money doing a leisure task. Most rental car agencies have jobs perfect for retirees such as moving and picking up rental cars from other locations.
Never underestimate the power of volunteering. It tends to open doors and connections to affluent people that can help you in the long run.
Steady income stops at retirement unless we have multiple streams of income. Learn more here. The point is to have other income to rely on and making your money work for you. Rewards are greater if multiple sources are started earlier in life. Some are almost too simple.
If there is ever a time to be frugal, it's when we retire. Frugal living isn't a bad idea at any age. The name of the game is not to run out of money, especially in retirement. More on frugal living here and here.
Thursday, April 3, 2014
Free Financial Online Courses
Throughout our lives we must make financial decisions that can make or break us. If we save and prepare for any financial pitfall we may be able be able to weather any storm that comes our way. If we live paycheck-to-paycheck we may find ourselves on the road to ruins.
Since financial planning is a lifelong task, the more we know the better off financially we would be. Makes me wish I had taken more business courses in college. Too bad, because most of us need financial planning. So, I thought, why not go back to school for free.
When you begin a college course you start at 101, so Money 101 is where to start. I like this site because it covers every financial aspect that will last a lifetime. You will find that Money 101 is a recurring theme throughout the links.
USU offers a course to help with family finances. Make no mistake, this also helps individuals. You can find more free courses here.
If you are a Generation X-er, you might profit from these courses.
You can find more financial courses here.
So there you have it. Take free financial courses that will make you money!
Since financial planning is a lifelong task, the more we know the better off financially we would be. Makes me wish I had taken more business courses in college. Too bad, because most of us need financial planning. So, I thought, why not go back to school for free.
When you begin a college course you start at 101, so Money 101 is where to start. I like this site because it covers every financial aspect that will last a lifetime. You will find that Money 101 is a recurring theme throughout the links.
USU offers a course to help with family finances. Make no mistake, this also helps individuals. You can find more free courses here.
If you are a Generation X-er, you might profit from these courses.
You can find more financial courses here.
So there you have it. Take free financial courses that will make you money!
Sunday, March 30, 2014
Social Networking And Finances
Social networking on the internet seems to be the fad of our time. Companies promote their merchandise, people keep in touch with family and friends, and the list of social networks benefits goes on. In today's world, social networks are where most people spend most of their time.
I believe that aside from the social networks that are geared toward businesses, most networks have peaked and will see a steady decline in the next few years. Aside from taking up time with gossip, social networks may be costing you financially. I tend to agree. I very much believe that what you put on a social network can come back to haunt you.
Experts seem to believe that social network overload is already setting in. Still some can still see the positive. I still believe that it can hurt you financially.
I believe that aside from the social networks that are geared toward businesses, most networks have peaked and will see a steady decline in the next few years. Aside from taking up time with gossip, social networks may be costing you financially. I tend to agree. I very much believe that what you put on a social network can come back to haunt you.
Experts seem to believe that social network overload is already setting in. Still some can still see the positive. I still believe that it can hurt you financially.
Saturday, March 29, 2014
Preparing For Rising Food Prices
I've already given you tips on grocery shopping. Food prices can fluctuate rapidly due to ever-changing markets. Disasters, supply and demand , availability are just a few factors that can influence the overall prices. Many are already aware of the rising beef prices, but expect other grocery prices to also rise. Many are considered healthy foods like salmon, lettuce and nuts to mention a few.
We can still cut the price of our grocery bill if we follow a few grocery shopping tips. We can also save on groceries by buying in bulk, freezing, preserving, gardening, and finding alternatives. Sometimes it is better to buy foods like nuts in bulk. Alternatives to meats are chicken and tuna.
With summer coming, look for more Farmer's Markets. Start a garden and if you're resourceful, you can even garden in an apartment. More here.
You can get more from your fruits and vegetables by learning to preserve them. More here.
Find alternatives in can and frozen foods.
We can still cut the price of our grocery bill if we follow a few grocery shopping tips. We can also save on groceries by buying in bulk, freezing, preserving, gardening, and finding alternatives. Sometimes it is better to buy foods like nuts in bulk. Alternatives to meats are chicken and tuna.
With summer coming, look for more Farmer's Markets. Start a garden and if you're resourceful, you can even garden in an apartment. More here.
You can get more from your fruits and vegetables by learning to preserve them. More here.
Find alternatives in can and frozen foods.
Wednesday, March 26, 2014
Golden Years At The Golden Arches
If your life has seen its share of miscalculations, perhaps your planned retirement needs to be recalculated. Retirement is the one time that you can't afford to be wrong, otherwise it will cost you in the long run. Retirement is about enjoying your life without having to punch a clock. Unfortunately, many retirees look for work because they can't make ends meet with their retirement funds.
Many people buy into the myths of retirement that may see them working until the grave. If it helps, take a retirement road trip. When it comes to retirement, I suggest making better decisions.
Since our lifespan is increasing we need to adjust our retirement timetables. Another bit of wisdom lies in avoiding money disasters that can wreck your retirement.
Putting something aside for retirement is an essential part of life that many don't consider until they are on its back door. If only we put something aside at a young age to go toward our retirement, we may retire at a young age. Keep in mind that your retirement more than likely must fit your lifestyle. Saving something should be automatic when it comes to retirement, and the key is to NOT touch the savings until retirement or beyond!
Small steps for saving toward retirement:
1) Put all windfalls into a savings. Raises and any extra money you come across.
2) Cut money consuming habits and pocket the savings. Smoking, addictions, etc., stop throwing money away and pocket the savings.
3) Don't live beyond your means by living on credit. If you saved the money on interest, retirement would move smoothly.
4) If you live in a bottle deposit state, put your refunds in a savings.
5) Put your government refunds in a savings. Your yearly federal and state refunds can be put to good use.
6) Stop trying to keep up with the Joneses. This will save you a lot of money.
7) Quit trying to get rich quick through scratch-offs and lottery numbers. Winnings are temporary and losses put you deeper in debt.
To play it safe, I have a formula for saving for retirement depending on when you start. If you start in your teens, you should save at least 5% of your paycheck a week for your work-life toward retirement. If you start in your 20s you should save at least 10% a week toward your retirement. In your 30s 25% a week, in your 40s 30%, in your 50s 45%, and in your 60s 75%. If you start in your 70s you might as well work until your grave!
Many people buy into the myths of retirement that may see them working until the grave. If it helps, take a retirement road trip. When it comes to retirement, I suggest making better decisions.
Since our lifespan is increasing we need to adjust our retirement timetables. Another bit of wisdom lies in avoiding money disasters that can wreck your retirement.
Putting something aside for retirement is an essential part of life that many don't consider until they are on its back door. If only we put something aside at a young age to go toward our retirement, we may retire at a young age. Keep in mind that your retirement more than likely must fit your lifestyle. Saving something should be automatic when it comes to retirement, and the key is to NOT touch the savings until retirement or beyond!
Small steps for saving toward retirement:
1) Put all windfalls into a savings. Raises and any extra money you come across.
2) Cut money consuming habits and pocket the savings. Smoking, addictions, etc., stop throwing money away and pocket the savings.
3) Don't live beyond your means by living on credit. If you saved the money on interest, retirement would move smoothly.
4) If you live in a bottle deposit state, put your refunds in a savings.
5) Put your government refunds in a savings. Your yearly federal and state refunds can be put to good use.
6) Stop trying to keep up with the Joneses. This will save you a lot of money.
7) Quit trying to get rich quick through scratch-offs and lottery numbers. Winnings are temporary and losses put you deeper in debt.
To play it safe, I have a formula for saving for retirement depending on when you start. If you start in your teens, you should save at least 5% of your paycheck a week for your work-life toward retirement. If you start in your 20s you should save at least 10% a week toward your retirement. In your 30s 25% a week, in your 40s 30%, in your 50s 45%, and in your 60s 75%. If you start in your 70s you might as well work until your grave!
Sunday, March 16, 2014
Saving On Food
Saving on food is easy but it requires a change of habits and disciplining yourself to stick with it. The first attack and change should be to go after the EXTRA spending on food we do in our daily lives, aside from grocery shopping.
Instead of buying a cup of coffee, make your own. Even if your spending $1 for traditional coffee, it costs more than if you brew your own.
Take your own lunch to work instead of eating at the eateries. I tend to bring my lunch all the time, but I do occasionally eat at a restaurant. If you plan your weekly meal and know what you're going to eat on a specific day, it will actually keep you from going out to eat.
Now when you go grocery shopping it is best to always prepare a list, this will help to avoid impulse buying and buying what you don't need. Eating healthy shouldn't have to cost an arm and a leg if you buy healthy basics. Use coupons only for food you buy regularly.
Learn how to cook cheap, quick, healthy, and convenient meals. Make a pantry of non-perishables and buy extras when they are on sale.
Drink regular faucet water. It's free and healthy. I drink seltzer and club sodas all the time. But if I put a monetary spin on it, I spend an average of $1000 a year on that. Maybe it's time to consider water!
Farmer's markets and coops are the place to buy fruits and vegetables. Some are seasonal, in which case a bit of research will come into play. Try to find alternatives to buy your produce.
If you have a backyard or some land, growing your own food can save you a bundle on food.
Here are more tips to cut your food bill. Here are ways to save at the grocery store and still eat well.
Instead of buying a cup of coffee, make your own. Even if your spending $1 for traditional coffee, it costs more than if you brew your own.
Take your own lunch to work instead of eating at the eateries. I tend to bring my lunch all the time, but I do occasionally eat at a restaurant. If you plan your weekly meal and know what you're going to eat on a specific day, it will actually keep you from going out to eat.
Now when you go grocery shopping it is best to always prepare a list, this will help to avoid impulse buying and buying what you don't need. Eating healthy shouldn't have to cost an arm and a leg if you buy healthy basics. Use coupons only for food you buy regularly.
Learn how to cook cheap, quick, healthy, and convenient meals. Make a pantry of non-perishables and buy extras when they are on sale.
Drink regular faucet water. It's free and healthy. I drink seltzer and club sodas all the time. But if I put a monetary spin on it, I spend an average of $1000 a year on that. Maybe it's time to consider water!
Farmer's markets and coops are the place to buy fruits and vegetables. Some are seasonal, in which case a bit of research will come into play. Try to find alternatives to buy your produce.
If you have a backyard or some land, growing your own food can save you a bundle on food.
Here are more tips to cut your food bill. Here are ways to save at the grocery store and still eat well.
Wednesday, March 12, 2014
Cancel A Service
I have not had cable since 1992. Since then prices have gone up consistently and the quality of cable h\as gone down, I don't miss it. I realize that I am a minority on this one, but cable is paying for services that are free. Hulu has many free movies and TV shows that people pay for with cable.
I was paying close to $50 a month for the internet service on my mobile device. I dropped that service and use Wi-Fi or do without it. If I were to go back to a provider, NetZero has rates that are a fraction of what I was paying.
I have to chuckle when people pay outrageous amounts for cell phones. Today most people feel that they must be connected to someone or something 24/7. Look at any person and I bet they are doing something with their multi-tasking phone. Then there are those who wait in line for days to purchase the new upgrade to their hyped overpriced phone. I can do these on my computer when I'm home or on my tablet if need be when I'm away. My phone is used for making and receiving phone calls(PERIOD) Imagine my savings since I actually use cheap plans!
I was paying close to $50 a month for the internet service on my mobile device. I dropped that service and use Wi-Fi or do without it. If I were to go back to a provider, NetZero has rates that are a fraction of what I was paying.
I have to chuckle when people pay outrageous amounts for cell phones. Today most people feel that they must be connected to someone or something 24/7. Look at any person and I bet they are doing something with their multi-tasking phone. Then there are those who wait in line for days to purchase the new upgrade to their hyped overpriced phone. I can do these on my computer when I'm home or on my tablet if need be when I'm away. My phone is used for making and receiving phone calls(PERIOD) Imagine my savings since I actually use cheap plans!
Monday, March 10, 2014
Finding The Best Bank Rate
Saving money and sitting on it is like throwing money out the window. It is best to let money earn interest in a saving account. Shop around as to where you will earn the most interest and what the minimum requirements are. Many believe that the internet is the way to go.
Shop around in various banks and credit unions in your area. Money markets may be something to look at for a higher yield. If you can wait awhile, maybe CDs are the way to go.
Many may have lost faith, but I still believe in Savings Bonds.
A good resource to find the best yielding rates is Bank Rate.
Shop around in various banks and credit unions in your area. Money markets may be something to look at for a higher yield. If you can wait awhile, maybe CDs are the way to go.
Many may have lost faith, but I still believe in Savings Bonds.
A good resource to find the best yielding rates is Bank Rate.
Sunday, March 9, 2014
Saving on Exercise
I have been an active member of gyms since 2006. I use them religiously so I get my money's worth. Currently my membership expired at my gym, meaning I am no longer under obligation and can change and save money. I am considering some options including investing in a home gym.
Should I drop my gym for a home gym? My membership is $35 a month. I know pretty much the exercises I routinely do. Even if I vary my routines, I pretty much use the same equipment. I priced equipment that would give me the same benefits and it comes out to a little over $400, and I can get a few extras. The pros to this are that the money I save will pay for the equipment in about a year.
There are more pros such as the hygiene issue and I don't have to shower in a bacteria cesspool that are at the gym. You don't have to wait to use the equipment. Sounds like a home gym is the way to go. Not so fast. I've had equipment at home that just gathered dust. Yes, it seems getting motivated is tough when your gym is there, but you don't use it. If you can beat these and other issues, then a home gym can save you a lot of money.
Having a gym membership motivates me to go workout without excuses. I'm paying for it and this will make me want to get my money's worth. For me the gym works. On the other hand, there are those who sign up for gym membership and never use them, but are committed by a contract and are paying for absolutely nothing. Make sure you will want to exercise before you sign a membership or buy equipment, otherwise it is a WASTE of money!
So what is my alternative, if I wish to use a gym to workout? Simple, find a gym that offers a better price. I am going to join a gym that will cost me only $10 a month. The savings speak for themselves!
Should I drop my gym for a home gym? My membership is $35 a month. I know pretty much the exercises I routinely do. Even if I vary my routines, I pretty much use the same equipment. I priced equipment that would give me the same benefits and it comes out to a little over $400, and I can get a few extras. The pros to this are that the money I save will pay for the equipment in about a year.
There are more pros such as the hygiene issue and I don't have to shower in a bacteria cesspool that are at the gym. You don't have to wait to use the equipment. Sounds like a home gym is the way to go. Not so fast. I've had equipment at home that just gathered dust. Yes, it seems getting motivated is tough when your gym is there, but you don't use it. If you can beat these and other issues, then a home gym can save you a lot of money.
Having a gym membership motivates me to go workout without excuses. I'm paying for it and this will make me want to get my money's worth. For me the gym works. On the other hand, there are those who sign up for gym membership and never use them, but are committed by a contract and are paying for absolutely nothing. Make sure you will want to exercise before you sign a membership or buy equipment, otherwise it is a WASTE of money!
So what is my alternative, if I wish to use a gym to workout? Simple, find a gym that offers a better price. I am going to join a gym that will cost me only $10 a month. The savings speak for themselves!
Monday, March 3, 2014
Creating An Emergency Fund
Oh if only life wasn't plagued with unforeseen emergencies. The reality is that unforeseen monetary emergencies can bring future plans to a halt, unless we prepare ourselves. It can be tough to recover from some emergencies that may deplete our savings, if we have any.
It actually isn't hard to build an emergency fund. It takes discipline and a bit of sacrifice. Cutting frivolous spending and putting a weekly amount from your pay into a savings account can build a nice emergency fund. Emergencies such as repairs to homes and auto, medical, etc., can happen at anytime and can be costly. Not to mention a job loss or other loss income that people may not consider or think of.
Getting started is easy once we determine our goal. We also need strategies to create an emergency fund. Information is sometimes repetitive, but knowledge is power.
People sometimes tend to think of saved money as a windfall and start spending it on non-emergency items. Bad idea. Remember that an emergency fund, in all reality, should last a lifetime.
It actually isn't hard to build an emergency fund. It takes discipline and a bit of sacrifice. Cutting frivolous spending and putting a weekly amount from your pay into a savings account can build a nice emergency fund. Emergencies such as repairs to homes and auto, medical, etc., can happen at anytime and can be costly. Not to mention a job loss or other loss income that people may not consider or think of.
Getting started is easy once we determine our goal. We also need strategies to create an emergency fund. Information is sometimes repetitive, but knowledge is power.
People sometimes tend to think of saved money as a windfall and start spending it on non-emergency items. Bad idea. Remember that an emergency fund, in all reality, should last a lifetime.
Sunday, March 2, 2014
Personal Finance Tips
A sure sign that we are in for a financial disaster is when we live from paycheck-to-paycheck, and debt can't be easily paid off. We need to learn how to stop living paycheck-to-paycheck. One needs to become realistic of their finances and that means watching the money flow. Powerwallet is a software that makes it easy to keep track of your finances and set-up a realistic budget.
There are always ways to save money, you just need to know where to look. You can find some handy advice in a month's worth of saving tips.
If you are close to retirement, your main goal should be to make sure that nest egg will carry you through your lifetime. Sometimes it may be to your advantage to retire later. Anyone who retires at 62 loses 25% of their full retirement from Social Security. The sooner you start saving for your retirement the better, but even at 50-something, it's never too late!
There are always ways to save money, you just need to know where to look. You can find some handy advice in a month's worth of saving tips.
If you are close to retirement, your main goal should be to make sure that nest egg will carry you through your lifetime. Sometimes it may be to your advantage to retire later. Anyone who retires at 62 loses 25% of their full retirement from Social Security. The sooner you start saving for your retirement the better, but even at 50-something, it's never too late!
Monday, February 24, 2014
Reflecting Retirement
It's never to early to start preparing for retirement. The sooner you start, the easier it is to save and prepare and be ready for any storm that may arise. Those who never start to prepare for retirement and are relying only on Social Security may be spending their Golden Years at the Golden Arches.
Some people are thinking of living abroad to stretch their retirement dollar. Although it may seem like a good idea at the time, there are things to consider. Common sense should tell you to do your homework before moving abroad. Language, culture change since you have to conform to local customs, crime, family and friends support, and the list goes on.
Saving for retirement should be a lifelong goal, but it is never too late to start. In case you can't see it, when it comes to retirement it's all about having enough money. Unfortunately, people aren't saving enough for retirement.
Saving for retirement is a must in so many ways. The longer you live, the less buying power your SSI or employer's retirement power will have. In today's ever changing world you can't rely on these means to be there. Many may be kings when they retire but become paupers over the years.
Some people are thinking of living abroad to stretch their retirement dollar. Although it may seem like a good idea at the time, there are things to consider. Common sense should tell you to do your homework before moving abroad. Language, culture change since you have to conform to local customs, crime, family and friends support, and the list goes on.
Saving for retirement should be a lifelong goal, but it is never too late to start. In case you can't see it, when it comes to retirement it's all about having enough money. Unfortunately, people aren't saving enough for retirement.
Saving for retirement is a must in so many ways. The longer you live, the less buying power your SSI or employer's retirement power will have. In today's ever changing world you can't rely on these means to be there. Many may be kings when they retire but become paupers over the years.
Sunday, February 23, 2014
Simple Savings
Most people have problems saving money because they let their wants take over their needs. Being creatures that demand immediate gratification, most of us may be living beyond their needs. Add to this those who tend to keep up with the Joneses soon learn they are doomed to a lifetime of debt. Yet it really doesn't have to be like this because anybody can save a little something, and if they don't touch it except for an actual emergency, may build a healthy financial nest egg.
I came across this 52 Week Save Money Challenge that I found rather interesting. The concept is that if you save the dollar amount of that week in a year, you will have saved a total of $1378 at the end of the year. For example, the first week you put away $1, second week $2, and your total is now $3. The third week you put away $3 and you now have $6. In the 52nd week you will put away $52 and your total is close to $1400.
Now comes the hard part. You don't touch the money or treat it as a windfall. Instead you start over. By the 52nd week of the second year, your total should be at least $2756, possibly plus interest if you put it in a savings account. I also like that during the holidays is when you are supposed to save the most. This is still a manageable amount.
Most people spend hard earned money on frivolous things. Are you really getting rich on lottos and scratch-offs. The odds are against you, and even a win is usually short-lived as we see here, here, and what to expect here and here. The problem is that most big winners don't believe in accountants or financial advisors. These are a must for anybody who has a substantial amount of money.
If you still smoke, you should give it your all to quit, because aside from the health reasons, cigarettes are anywhere from $7 to $10 a pack. The health savings may keep you from the doctor visit costs.
I went from a job where the only concessions were expensive and the food was questionable, to a job where I am surrounded by a number of fine eateries. I consider myself lucky that I always packed my own lunch at my other job. I do occasionally get some food with my co-workers from various restaurants. An average meal cost about $12. My own meal on average costs $5 and I make it myself and know what goes into it. That should be self-explanatory.
Aside from saving the extra change you have in your pocket at the end of the day, consider saving bills of a certain denomination, too. Save any $1 or $5 dollar bills in your wallet at the end of the day.
Saving money isn't hard unless we are led into temptation by ourselves. We should distinguish between our needs and wants and have a sense of priorities. Saving works as long as the savings aren't eventually considered a windfall.
Moral of the story of saving money can be summed up here!
I came across this 52 Week Save Money Challenge that I found rather interesting. The concept is that if you save the dollar amount of that week in a year, you will have saved a total of $1378 at the end of the year. For example, the first week you put away $1, second week $2, and your total is now $3. The third week you put away $3 and you now have $6. In the 52nd week you will put away $52 and your total is close to $1400.
Now comes the hard part. You don't touch the money or treat it as a windfall. Instead you start over. By the 52nd week of the second year, your total should be at least $2756, possibly plus interest if you put it in a savings account. I also like that during the holidays is when you are supposed to save the most. This is still a manageable amount.
Most people spend hard earned money on frivolous things. Are you really getting rich on lottos and scratch-offs. The odds are against you, and even a win is usually short-lived as we see here, here, and what to expect here and here. The problem is that most big winners don't believe in accountants or financial advisors. These are a must for anybody who has a substantial amount of money.
If you still smoke, you should give it your all to quit, because aside from the health reasons, cigarettes are anywhere from $7 to $10 a pack. The health savings may keep you from the doctor visit costs.
I went from a job where the only concessions were expensive and the food was questionable, to a job where I am surrounded by a number of fine eateries. I consider myself lucky that I always packed my own lunch at my other job. I do occasionally get some food with my co-workers from various restaurants. An average meal cost about $12. My own meal on average costs $5 and I make it myself and know what goes into it. That should be self-explanatory.
Aside from saving the extra change you have in your pocket at the end of the day, consider saving bills of a certain denomination, too. Save any $1 or $5 dollar bills in your wallet at the end of the day.
Saving money isn't hard unless we are led into temptation by ourselves. We should distinguish between our needs and wants and have a sense of priorities. Saving works as long as the savings aren't eventually considered a windfall.
Moral of the story of saving money can be summed up here!
Thursday, January 2, 2014
Money Rules
Money isn't hard to budget as long as we master a few rules. Once we do that, we can seek more money rules that will expand our knowledge in the monetary field. Sometimes things are tough to understand when it comes to money, such as the give and receive principle, but it does work. Still when it comes to money, knowledge is power!
My goal for this year is to save and invest more and spend less. I will be talking about retirement more often since I am close to that time in my life. This is why everyone should educate themselves in as many money rules as they possibly can.
When you get your finances in order, regardless what your earning potential is, you gain confidence in the monetary field and will no longer live paycheck-to-paycheck.
My goal for this year is to save and invest more and spend less. I will be talking about retirement more often since I am close to that time in my life. This is why everyone should educate themselves in as many money rules as they possibly can.
When you get your finances in order, regardless what your earning potential is, you gain confidence in the monetary field and will no longer live paycheck-to-paycheck.
Wednesday, January 1, 2014
2014-The Year To Be Money Wise
With the start of the new year, we would benefit by reviewing all our finances and strive to save more, invest more, and make more money. At the same time we should be looking for ways we can cut frivolous spending and areas where we can put an end to wasting money. Over the years, it has been a trial-and-error when it came to money, and I have sustained losses, but through some sacrifices, I believe anyone can get their finances in order.
In The Beginning...
Since everyone is different in their financial goals and where they are financially, we need to get a grip on reality. Debt is not a good thing and "Keeping Up With The Joneses" will lead to financial disasters if you don't make as much as the Joneses!
The Rolling Stones summarized it best when they sang, "You can't always get what you want..." "...but if you try, sometimes you get what you need!" Your financial goals should focus on your needs first, and your wants should be put on hold until you can afford them without going into debt. We need to learn to live within our means, otherwise we will be forever in debt. Retirement may lead some directly to the grave, if you have to continue to work to meet your needs, because you went overboard on your wants in your younger years.
Yesterday, Today and Tomorrow
Times have changed, yet history continues to repeat itself. We don't save and invest enough to build a nest and get struck by unforeseen bills and higher prices on goods that lead us to live from paycheck-to-paycheck. And therein lies the secret to the poor bloke who has to work forever because of unwise choices that depleted from any savings. Hoping to retire on Social Security won't cut it if you live much longer and the value of your payout has less buying power in the coming years.
Your payout may be for the rest of your life, but a dollar had more buying power in the 1990s than it does in 2014. Think about that. If you live even 10 years after retiring, you may not be able to buy or afford as many goods, and your NEEDS may be compromised.
The Kleptomaniac Buyer
If you can't grasp the old adage that claims that A fool and his money are soon departed, then go ahead and keep up with the Joneses. A kleptomaniac is known for stealing items that he has no need for. What's worse is a person who buys items that he has no need for. A must for some in 2014 is to put some purchases on hold, especially those that seem like an impulse buying item.
Skeletons
We all have vices and lusts and are often led into temptations. Addictions are a big money draining problem. The prime evils are alcohol, cigarettes, drugs and gambling. I am not here to judge, I only want to point out the money being wasted on things that could even affect your health. Just a thought.
2014
Happy New Year!
May yours be profitable. Remember that some sacrifice is needed, but you might still be able to trick yourself into saving money. Starting a financial journal isn't a bad idea!
In The Beginning...
Since everyone is different in their financial goals and where they are financially, we need to get a grip on reality. Debt is not a good thing and "Keeping Up With The Joneses" will lead to financial disasters if you don't make as much as the Joneses!
The Rolling Stones summarized it best when they sang, "You can't always get what you want..." "...but if you try, sometimes you get what you need!" Your financial goals should focus on your needs first, and your wants should be put on hold until you can afford them without going into debt. We need to learn to live within our means, otherwise we will be forever in debt. Retirement may lead some directly to the grave, if you have to continue to work to meet your needs, because you went overboard on your wants in your younger years.
Yesterday, Today and Tomorrow
Times have changed, yet history continues to repeat itself. We don't save and invest enough to build a nest and get struck by unforeseen bills and higher prices on goods that lead us to live from paycheck-to-paycheck. And therein lies the secret to the poor bloke who has to work forever because of unwise choices that depleted from any savings. Hoping to retire on Social Security won't cut it if you live much longer and the value of your payout has less buying power in the coming years.
Your payout may be for the rest of your life, but a dollar had more buying power in the 1990s than it does in 2014. Think about that. If you live even 10 years after retiring, you may not be able to buy or afford as many goods, and your NEEDS may be compromised.
The Kleptomaniac Buyer
If you can't grasp the old adage that claims that A fool and his money are soon departed, then go ahead and keep up with the Joneses. A kleptomaniac is known for stealing items that he has no need for. What's worse is a person who buys items that he has no need for. A must for some in 2014 is to put some purchases on hold, especially those that seem like an impulse buying item.
Skeletons
We all have vices and lusts and are often led into temptations. Addictions are a big money draining problem. The prime evils are alcohol, cigarettes, drugs and gambling. I am not here to judge, I only want to point out the money being wasted on things that could even affect your health. Just a thought.
2014
Happy New Year!
May yours be profitable. Remember that some sacrifice is needed, but you might still be able to trick yourself into saving money. Starting a financial journal isn't a bad idea!
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