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We all here the stories on the television and radio. They say that the economy is in a recession. There is news of companies failing and people losing their jobs. Everyone in some way can feel the pressure.

You may be sitting there wondering how you can save money. You don’t want to start pinching pennies, but you know you need to. You may be worrying about putting food on the table or getting to work.

Money worries are never fun. It causes tension for everyone in the household. Yet, you can start saving money today with these 3 tips.

Make your own coffee.
Ahh, the morning Starbucks coffee. It is the perfect way to start your workday. Yet, it is a little more pricey than other places. Do you find yourself scraping every last bit of loose change just to get a small cup of your favorite coffeehouse beverage?

Continue reading ‘Pinching Pennies – 3 Ways to Save Money’ »

Saving money is on just about everyone’s mind these days. Money is not that easy to save. We’re all accustomed to living just at the edge of our means. And this is a dangerous way to live, especially as we age and grow responsibility.

One of the many reasons that this behavior is difficult to break, especially in western countries, is that the conversation via materials is relatively loaded and significant. It’s not easy to go against the grain and get the used car when just about everyone else on the block seems to have a new shiny white F-150 or a Silver Mercedes E350. This sounds pretty easy to do.

Just get the used Honda Accord and save 8k, but it’s not so easy. We’re all held to a sense of comparison. We hold ourselves to it. And we communicate success through our ability to keep up. That’s the hidden language that is behind the model of economics that remains to be the most distinguished in our world.

So what to do? How do we break the mold and forge forward as a fiscally responsible individual? How do we break these habits that have been conditioned by generations?

Continue reading ‘How to Save Money For Your Family’ »

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Times are tough. However, you are tougher. That is why, with a few small and simple Saving Tips you can make changes to your lifestyle and spending habits, you can not only survive this credit crunch, but you can get back on top of your finances.

Limit your weekly spending

Think about all those little extras that you purchase every week. Maybe this is a coffee every day on your way to work. Maybe this is a quick sandwich and salad from the cafeteria at lunch. Perhaps it is a gossip magazine every time you visit a store. Or maybe it’s a daily mid afternoon energy drink or a pack of cigarettes. Whatever you are spending in a day, these little things can really add up.

Think about this: if you are buying a $5 coffee a day, then you are spending an extra $100 a month. If you are purchasing a $10 lunch every day, then you are spending an extra $200 a month. Cigarettes, magazines, energy drinks, after-work cocktails- all of these things can add up without you even realising it. Suddenly, you are at nearly $500 extra dollars a month, just with coffees, lunches and other daily treats.

Continue reading ‘How to Survive the Credit Crunch – 3 Simple Saving Tips’ »

A frugal lifestyle is not just concerned with saving money and compromising one’s needs, instead, it is more a decision to simplify your life. It is a complete plan that helps you lead a successful and easy life. Although it sounds very simple, being frugal is not as easy as it sounds. You have to weigh things carefully, make good decisions and be rational no matter what you face.

Due to tough economic conditions, more and more people are looking to become frugal. Keeping this in mind, we decided to reveal some useful frugal living tips so that people could lead more comfortable lives. All you need to do is follow the tips mentioned below.

Do not always go for what you “can” get; go for what is needed or required.
This is the most basic tip that emphasizes controlling your expenses and outflows. You should make sure that you don’t get everything you can; instead, you have to be intelligent enough to get what is needed or required. You must learn to prioritize things and then choose the one that is most important.

Continue reading ‘Frugal Living Tips’ »

One of the best things you can do for your financial situation would be to save money every month! I personally recommend that you save at least ten to twenty per cent of your monthly pay to see some really good results. I know that this amount is not the law, and would be altered to suit the different circumstances available, but the main thing is to save. At all costs, save money every month!

Saving has been defined by many people, but there is one particular definition that I like, and it simply says: saving is the act of paying yourself. Since you practically spend all your money paying others for their goods and services, then you would welcome the idea of paying yourself too, I bet – and hope, too. However you might be wondering why the hullabaloo, and why is it so important to save in the first place.

I am going to give you a brief introduction to the many reasons you can have for saving money. Continue reading ‘Why It’s Important to Save More Money Every Month’ »

Here are three things going on with your credit that you need to know about.

1. Your new credit card statement shows how much you will save when you pay your debt “earlier.”

The problem: Credit card issuers are now required to show you how much it would cost in interest to simply pay the minimum due on your statement.  Some issuers have taken to “helping” their customers by providing additional information that shows how much interest they will SAVE if they simply doubled or tripled their payments.  With finance charges starting at 16%, no one is saving money this way, they are simply losing less!

The solution: Don’t let this new language fool you; credit card companies make money when you pay interest.  And high finance charges mean you get hurt, financially.  Paying your debt off faster is always a good idea, but of course, the best way to handle credit is to only charge what you can pay off at the end of the month.  Don’t be mislead by these fancy charts, pay off AS MUCH credit card debt as you can, and when you have paid it all off,  start really saving by putting your money in a mutual fund. Continue reading ‘One Minute Money Lessons: Credit Farces’ »

Have you ever tracked all your expenses for a single month? You can do this by getting all your receipts and writing down everything you spent money on – from utilities to fast food meals. If you’re like most people, you found something shocking. Don’t be embarrassed. It’s better to catch bad spending habits now rather than later. There may come a time when you really need the extra money and you’ll regret spending it all on a few items you didn’t really need.

What’s the next step? If you want to take a real financial assessment of your life, then take a closer look at each expense category to see which items can be reduced. You also need to list your long term goals and your short term goals, because that will motivate you to make needed changes.

Here are some helpful suggestions:

DO look at the little expenses. Some people think that $5.00 a week is nothing to worry about, but that’s $260 a year – a large amount that can be put towards one of your goals. Continue reading ‘Financial Assessment Of Your Life’ »

It’s that time of the year again, when everyone vows to be healthier, lose weight, read more books, and spend more time with their loved ones. But what about our financial health? Anyone who has opened a newspaper or turned on the television over the past year has heard how many Americans are struggling with mortgages they can’t afford, too much debt, and unemployment.

So with all of that going on what will you do differently in 2010 to make sure you are in better shape financially at the end of the year?

Start with Realistic Resolutions

Running a marathon may sound good, but it is not a realistic goal for someone who is overweight and hasn’t worked out in years. Deciding to start walking each day is a much more realistic goal that will result in lasting improvements. Your financial resolutions should be made in the same way; realistic changes you can implement that will lead to better habits for the rest of your life. Continue reading ‘Financial New Years’ Resolutions For 2010’ »

Although most people work hard to protect themselves from serious financial trouble by saving money, investing wisely, and making sure their income is sufficient enough to maintain the lifestyle they have become accustomed to, monetary difficulties may be unavoidable for even the most responsible individual.

If a person has lost his or her job, lost money through poor investment choices, no longer has spousal support, or has gone through a divorce, he or she may find that their normal financial situation has changed dramatically. In some cases, people may find it difficult to maintain regular and timely payments to their creditors and are in danger of losing their homes, cars, and other assets.

In such cases, the individual may consider filing for either Chapter 7 or Chapter 13 bankruptcy to discharge difficult unsecured debts and attempt to emerge in a better financial state. Bankruptcy often helps discharge some credit card debts and other unsecured loans, but does not dismiss alimony, child support, student loans, and medical bills. In addition, the applicant may be forced to give up some of his or her assets to repay creditors. Continue reading ‘Assets Protected From Bankruptcy’ »