Do you really need a budget? Some tend to say that a budget isn't really needed. I do believe that everyone is different, and if you are in debt, you should probably have a budget. Budgets should be flexible, since some things can change.
A good way to reassess your finances is to overhaul your financial health. If there is a way, try to earn extra cash. Never miss ways to make extra cash. It will always help in your retirement.
If you aren't doing your banking through an online bank, you definitely aren't getting a great APR rate. Go to Barclays, and get a great rate on savings and CDs. Although it claims 1.00% APY, if you sign up for a Retirement account the rate goes to 1.05% APY. Barclays also rewards you at the end of the year if you don't withdraw any money you put in. You can go right to 1.05% APY in a savings account at GS Bank. The 1.10% APY 12 month CD is a great rate for a short period. As far as checking, Charles Schwab
If you are investing for the future, you know the importance of a diversified portfolio. Can you be losing money because your portfolio is too diversified? I fell into this trap when I was starting out.
Investing should be involved in any financial issue. Start with as little as $1000 and learn how to do it.
For a great resource planner in all financial matters, Personal Capital has many tools to manage your finances and plan for your retirement.
Showing posts with label saving. Show all posts
Showing posts with label saving. Show all posts
Monday, February 20, 2017
Monday, January 5, 2015
Money 2015
A new year is here and our best 2015 money moves are to save and invest and to stay out of debt. I may have talked about it elsewhere, but now is a good time to start the 52-Week Savings Challenge. In the end you will save $1,378 this year. I do it a little bit different by starting with the highest and working my way down. For me this makes sense since I earn more at this time than I will later.
The beginning of the year is a good time to give your financial matters a review. You can never be reminded enough when it comes to finances to make sure you're still on target or ahead.
If you're paying for credit monitoring you can get it for free at Credit Sesame. Credit Karma is similar and also tracks your spending. These sites are offered by one of the credit monitoring agencies. Trans Union and Experian so your scores may vary. Credit Sesame also offers free ID Theft protection. Aside from the credit card and loan ads, these sites are informative and informative.
When it comes to money matters people need to decide on whether to hire a financial advisor. The site offers a free DIY tool for those who shun advisors. If you are a DIY-er, make sure you have knowledge on the topic.
It's never to early to supplement your retirement income.
Nvestly is a social platform that allows expert and novice investors to share investing knowledge.
Learn easy money saving tips that can help you save up to $3000 a month.
The beginning of the year is a good time to give your financial matters a review. You can never be reminded enough when it comes to finances to make sure you're still on target or ahead.
If you're paying for credit monitoring you can get it for free at Credit Sesame. Credit Karma is similar and also tracks your spending. These sites are offered by one of the credit monitoring agencies. Trans Union and Experian so your scores may vary. Credit Sesame also offers free ID Theft protection. Aside from the credit card and loan ads, these sites are informative and informative.
When it comes to money matters people need to decide on whether to hire a financial advisor. The site offers a free DIY tool for those who shun advisors. If you are a DIY-er, make sure you have knowledge on the topic.
It's never to early to supplement your retirement income.
Nvestly is a social platform that allows expert and novice investors to share investing knowledge.
Learn easy money saving tips that can help you save up to $3000 a month.
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, 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.
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.
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!
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!
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!
Sunday, June 30, 2013
Financial GPS
When it comes to finances, you have to know where you are at and where you want to go. You then have to map out a way to get there and how long it will take. Factor in that what will cost you the most to repair is DEBT!
We are a society that demands immediate gratification and we are always in a race keeping up with the Joneses. Since practically anyone can get credit to buy now and pay later, we can easily slip and drown in debt. If you are living paycheck-to-paycheck, you may have a problem with debt and responsibilities.
Never fear because there are painless ways to save on a tight budget. If you have to start somewhere, why not start here. The first thing you have to do to be financially fit is create a budget and stick to it. For those who hate budgets, there is even some advice for them.
Your next route on your journey is to stay out of debt. Then you should learn how to save money. A great tool for creating a budget can be found at Buddi.
We are a society that demands immediate gratification and we are always in a race keeping up with the Joneses. Since practically anyone can get credit to buy now and pay later, we can easily slip and drown in debt. If you are living paycheck-to-paycheck, you may have a problem with debt and responsibilities.
Never fear because there are painless ways to save on a tight budget. If you have to start somewhere, why not start here. The first thing you have to do to be financially fit is create a budget and stick to it. For those who hate budgets, there is even some advice for them.
Your next route on your journey is to stay out of debt. Then you should learn how to save money. A great tool for creating a budget can be found at Buddi.
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