January 23, 2010
Filed under: Debt — Sabine @ 7:28 pm
One of the major stresses that affects marriage is money. In fact, it is often what prevents people from wanting to get married or be married.
In fact, if you are able to enter marriage without a huge financial burden it will increase your chance of a successful life together.
The following are tips on how to save money on your wedding and to prepare for married life:
Don’t get caught paying heaps for the venue!
Get married at your local church. You are sure to get a discount on ceremony and reception space if you plan your wedding and reception at a church. Sometimes if you are highly involved in a church organization you may even receive free space for your special day.
Hold a ceremony in a public park. Usually the permit for this will cost next to nothing. Sometimes you can even find outdoor spots where you can set up your wedding for free. I you want to protect your guests from rain you may be able to rent a pavilion for as inexpensive as a few hundred dollars or less.
Don’t be shy to shop for bargains at dollar stores and discount stores. . No one will tell where you bought it – and you can decorate in the nicest possible way for very little money if you put the effort in to go bargain shopping! There are especially great places to find themes for table and hall decorations. Often strands of white flowers, centrepieces, and candles have been available at these places for as cheap as a few dollars, or even only one dollar
Don’t get caught paying off your wedding gown long after the ceremony! Shop for Wedding Attire at Factory Outlet or Closeout Stores. You would be surprise how many of last-year’s wedding gowns and tuxes are available. You can often rent or purchase these items for hundreds of dollars less than regular retail price. If they are only a year old they are sure to be in style, and it would often cost less to alter them than to purchase them brand new
Don’t put stress into your young marriage by paying off your honeymoon long after you got home! Plan unique but affordable getaways.
Plan fundraising games. One wedding reception game that is popular is “Pay a dollar to dance with the groom (or bride).” Another idea would be to sell raffle tickets for door prizes at wedding showers, bachelor and bachelorette (stag or hen/doe) parties. You might also consider selling cocktails and other drinks, planning a paid performance, or following through with a wacky dare.
Find Volunteer Cooks. You are sure to have a few willing cooks in your family, or within your group of friends. Also note that buffet style meals versus per-dish types of meals are usually less expensive. You can have a quality meal for your wedding reception guests at a fraction of what it would cost to hire a professional caterer.
Request help from as many people as possible. If you know you can find help for marriage and wedding preparation, ask as many people as possible. It will further cut down on wedding planning expenses. For instance, perhaps someone in your family or among your circle of friends, or your co-workers knows how to take professional pictures.
Following the above tips should help you have a very rewarding wedding ceremony. More importantly, you can start your life together off right-debt free and living within your means. In fact, if you are able to enter marriage without a huge financial burden it will increase your chance of a successful life together.
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January 19, 2010
Filed under: Debt — Sabine @ 6:19 pm
It literally is madness the way gas prices have continued to soar. It does not seem like that long ago when prices were sub eighty-cents per gallon. Now it feels like that would only happen in those pictures that occur between midnight and six AM.
It is a little shocking that the price of gas has become a major expenditure issue in the past few years, but it has been showing no signs of slowing down. Really the best choice is to cut back on gas expenditure in any way possible, be it with some carpooling, walking, or avoiding the jets. Simple steps can be made all over to save some transportation money and help out the environment. This is one tip you can use when trying to accomplish your goals.
For basic transportation issues, one of the best solutions is as simple as a carpool. If the drive is thirty minutes to work and there are two others who can alternate drive then the saved money from gas can reach three figures each month easily.
If the city is where one lives, perhaps a nice bike or a walk can really save a big load of money, while also keeping the circulatory system strong.
Travel is exciting for many people in the United States and beyond. Perhaps there are friends in New York, or a cool spot in Chicago, flying between home and multiple places can place a major strain on a wallet. Of course there are discounted flights that are popping up all over the place, but for many the cost of flying deters many from taking as many vacations as are desired.
Shockingly many of these travellers have never considered a nice train ride to their destination. Now a train ride solves the problem of hassle, which accompanies a long car ride, and it saves a plethora of money that can be wasted on a flight. Modern trains are extremely comfortable, and who would not rather spend money on a Broadway show rather than a mode of transportation that will put everyone in the same destination.
Credit card debt is also considerably higher than 30-somethings. According to MSN Money one in 10 people in their 40s have more than $10,000 in credit card debt, compared with one in 12 people in their 30s.
More income and more experience money managing explain why fewer 40-somethings are getting behind in bills. At the same time people in their 40s are getting much more serious about retirement than the younger aged. Once again MSN Money states, “The percentage of people who have workplace retirement plans or IRAs rises to 59% for those in their 40s, compared with 53% of 30-somethings.” This statement should mean a lot to those in their 40s.
You can find several transportation resources for seniors in your telephone directory or on the Internet. Check with your municipal and county departments for available services. In some cases, you may have to complete an application form. Some may require the signature of your doctor or medical professional. If you live or plan to live in a senior facility, private shuttle services to shopping malls and group social activities might also be available as a standard part of the residential package.
Tips to Keep Gar Prices You From Breaking Your Bank
It literally is madness the way gas prices have continued to soar. It does not seem like that long ago when prices were sub eighty-cents per gallon. Now it feels like that would only happen in those pictures that occur between midnight and six AM.
It is a little shocking that the price of gas has become a major expenditure issue in the past few years, but it has been showing no signs of slowing down. Really the best choice is to cut back on gas expenditure in any way possible, be it with some carpooling, walking, or avoiding the jets. Simple steps can be made all over to save some transportation money and help out the environment. This is one tip you can use when trying to accomplish your goals.
For basic transportation issues, one of the best solutions is as simple as a carpool. If the drive is thirty minutes to work and there are two others who can alternate drive then the saved money from gas can reach three figures each month easily.
If the city is where one lives, perhaps a nice bike or a walk can really save a big load of money, while also keeping the circulatory system strong.
Travel is exciting for many people in the United States and beyond. Perhaps there are friends in New York, or a cool spot in Chicago, flying between home and multiple places can place a major strain on a wallet. Of course there are discounted flights that are popping up all over the place, but for many the cost of flying deters many from taking as many vacations as are desired.
Shockingly many of these travellers have never considered a nice train ride to their destination. Now a train ride solves the problem of hassle, which accompanies a long car ride, and it saves a plethora of money that can be wasted on a flight. Modern trains are extremely comfortable, and who would not rather spend money on a Broadway show rather than a mode of transportation that will put everyone in the same destination.
Credit card debt is also considerably higher than 30-somethings. According to MSN Money one in 10 people in their 40s have more than $10,000 in credit card debt, compared with one in 12 people in their 30s.
More income and more experience money managing explain why fewer 40-somethings are getting behind in bills. At the same time people in their 40s are getting much more serious about retirement than the younger aged. Once again MSN Money states, “The percentage of people who have workplace retirement plans or IRAs rises to 59% for those in their 40s, compared with 53% of 30-somethings.” This statement should mean a lot to those in their 40s.
You can find several transportation resources for seniors in your telephone directory or on the Internet. Check with your municipal and county departments for available services. In some cases, you may have to complete an application form. Some may require the signature of your doctor or medical professional. If you live or plan to live in a senior facility, private shuttle services to shopping malls and group social activities might also be available as a standard part of the residential package.
Tips to Keep Gar Prices You From Breaking Your Bank
It literally is madness the way gas prices have continued to soar. It does not seem like that long ago when prices were sub eighty-cents per gallon. Now it feels like that would only happen in those pictures that occur between midnight and six AM.
It is a little shocking that the price of gas has become a major expenditure issue in the past few years, but it has been showing no signs of slowing down. Really the best choice is to cut back on gas expenditure in any way possible, be it with some carpooling, walking, or avoiding the jets. Simple steps can be made all over to save some transportation money and help out the environment. This is one tip you can use when trying to accomplish your goals.
For basic transportation issues, one of the best solutions is as simple as a carpool. If the drive is thirty minutes to work and there are two others who can alternate drive then the saved money from gas can reach three figures each month easily.
If the city is where one lives, perhaps a nice bike or a walk can really save a big load of money, while also keeping the circulatory system strong.
Travel is exciting for many people in the United States and beyond. Perhaps there are friends in New York, or a cool spot in Chicago, flying between home and multiple places can place a major strain on a wallet. Of course there are discounted flights that are popping up all over the place, but for many the cost of flying deters many from taking as many vacations as are desired.
Shockingly many of these travellers have never considered a nice train ride to their destination. Now a train ride solves the problem of hassle, which accompanies a long car ride, and it saves a plethora of money that can be wasted on a flight. Modern trains are extremely comfortable, and who would not rather spend money on a Broadway show rather than a mode of transportation that will put everyone in the same destination.
Credit card debt is also considerably higher than 30-somethings. According to MSN Money one in 10 people in their 40s have more than $10,000 in credit card debt, compared with one in 12 people in their 30s.
More income and more experience money managing explain why fewer 40-somethings are getting behind in bills. At the same time people in their 40s are getting much more serious about retirement than the younger aged. Once again MSN Money states, “The percentage of people who have workplace retirement plans or IRAs rises to 59% for those in their 40s, compared with 53% of 30-somethings.” This statement should mean a lot to those in their 40s.
You can find several transportation resources for seniors in your telephone directory or on the Internet. Check with your municipal and county departments for available services. In some cases, you may have to complete an application form. Some may require the signature of your doctor or medical professional. If you live or plan to live in a senior facility, private shuttle services to shopping malls and group social activities might also be available as a standard part of the residential package.
More Information on Eliminating Debt
January 15, 2010
Filed under: Debt — Sabine @ 6:44 pm
Everyone can use some new tips to safe on energy costs. This involves a variety of different factors.
One of the more obvious tips is to turn out the lights when you are not in a room. That alone can save you at least a few dollars a month – or better still use low energy bulbs.
Less-obvious ways to reduce cost of energy include the following:
Convert to renewable energy. Three time-tested natural sources of energy are sunlight, wind, and water. They are usually combined with solar panels, windmills, or generator. Cars have even been converted to other types of renewal fuel, such as wood or plant products.
Invest in more durable items. Sometimes the up-front cost of purchasing longer-lasting appliances, furniture, and other household items can be more than you want to pay. However, this short-term investment has long-term benefits. One of those is items that are well-made also are usually more energy efficient.
Heat and cool your house naturally. This can be achieved by pulling the shades during the day and pulling them up at least part way at night. (If you value your privacy blinds are useful for this purpose.
Insulate your home. This will reduce the cost of heating and cooling. Along with that, make sure you close all doors while the home heater or air conditioner is on.
Wash full loads of clothes and dishes. When possible, do not run the dishwasher just for a few items. If you want to clean a stray dish a soap dispenser with a scrub brush attached is perfect for this purpose.
Hang clothes on the line instead of drying them. This will dramatically cut down on the energy used, as you will not be running the dryer nearly is often. Additional Tip: Clothes dry fastest on a hot, dry, sunny day.
Shut down your computer, television, car, and miscellaneous devices. Any computer or electronic item will use up the most energy, so it is important to shut it down at night or during other times when you are not using them.
Use compact florescent light bulbs. You usually get more usage for these for the price, as they last quite a bit longer than traditional bulbs.
Use power strips, and surge protectors. Any large device that you have such as a DVD player, television, or computer should be plugged into a box such as this. Using these devices can cut your bill as much as 30%.
Bath or short shower? If you absolutely cannot be content with taking a five-minute or ten-minute shower then you should consider taking a bath instead. It will save you money. However, if you take a shorter shower it would use less water than filling your tub with bath water.
More energy saving tips can be found on local and national government websites. You can also call energy savings hotlines for further advice.
Additionally, non-profit environmental groups have educational resource regarding various aspects of energy-saving and conservation. This information would ensure you a better quality of life.
You can also find information and more detailed tips on energy saving not only for the money saving aspect but also to help the environment in the environment in our enviromental section:
http://www.abundantlivingebooks.com/environment/
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Filed under: Debt — Sabine @ 6:09 pm
Six No-Nonsense Ways for Living Below your Means
No matter how hard you try you wind up in the same trap, or so it seems…..
You may be a person or family who knows you need to get a handle on your finances. However, it is hard for you to get ahead.
The following are helpful tips for living below your means:
Shop for Bargains. There is no shame in paying less for quality items, especially if it will reduce your financial burden and stress. For instance, you can find like new clothing-even brand names-at thrift stores, factory outlets, and discount stores. You can also find just about any household item you need at online auctions.
Purchase off-brand food items. Some food items are not the same as the generic version (bologna for example). However, for most items, such as milk, eggs, margarine, bread, cereal (certain ones) and more the generic brand is less costly but tastes the same. You usually can find the same both dollar stores and regular stores sell off-brand items, and you can even find them at factory outlets or close-out stores.
Do not invest more than you can afford to lose. A general rule of thumb is to have a backup fund equal to the amount of money that you plan to invest in stocks, bonds, mutual funds, or forex. If you are planning to start a business it is wise if you have some capital in case of malfunctions and emergencies.
Keep tracking of spending- ALWAYS! This is one of the practices in which countless individuals and couples fail to follow through, and it costs them big at times. Overdraft fees can add up, and you could end up paying hundreds of dollars a month if you do not figure out your account balance each time you plan to shop.
Delay Gratification: The Old-Fashioned Rule: This concept -second to “obedience”-is probably one of the least favourite of all human kind. However it also is one of the most necessary in order to reap long-term rewards in life. It is time to break the cycle of spending money you do not have and instead saving for what you want.
This is a BIG ONE When your children ask for toys at the checkout counter tell them no. Do not give in to any crying tantrums either, or you will reward irresponsible money management behaviour in them. Also, say no to friends who seem to drain your pockets every time you are around.
Additional Money-Saving Ideas:
If you have a problem with spending, you might want to consider getting rid of your credit cards as well. If you need to purchase items online you can do so with a debit card. Besides, debit cards only hold as much money as you put on them.
Conserving and reusing is also another option that you would want to consider to help you stay on track financially. Shopping bags, food containers and other items are some of the most commonly-reused items.
Now that you have read this article, a new fire has hopefully sparked within you. Perhaps you have even thought of your own ideas for saving money every month. There is no wrong way to figure out how to live within your means. You also can find additional money-saving tips by searching consumer websites and reading budgeting magazines, and other publications. Professionals are also trained to help people in need of help with money management.
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January 1, 2010
Filed under: Debt — Sabine @ 11:18 pm
What you can do to avoid getting into debt?
Experts say there are certain money missteps that many of us are likely to make. Here are the major money missteps that can easily land you in debt. These are very common missteps that many of us fall into without even knowing it.
Buying a new car
OK, this is not so much a money misstep (unless you really can’t afford a new car, or finance it with a high interest rate) as a preference that can easily get you into debt. Sure, you love that new car smell, the feeling that you are the one adding up the miles, but it is a known fact that new cars depreciate several thousand dollars as within the first year. Save yourself all that money that you’re paying for the privilege of the new car smell and buy a high quality pre-owned vehicle. Many used cars still carry the original warranty-even more incentive for buying a quality used vehicle.
Borrowing from your 401(k) or 403(b)
In most cases, you won’t get a great deal at all. Your 401(k) deals are pre-tax, which means that eventually the money that you put in will get taxed when you withdraw it. Taking out a loan from your 401(k) or 403(b) means that you will be borrowing from pre-tax dollar which will eventually have to be repaid. When you eventually retire and begin your withdrawals, you will be taxed again. If you borrow money from your 401(k) or 403(b), you will effectively be getting taxed twice. Did you know that you are also required to repay the loan in only a few months? If you don’t happen to have the money for repayment, your loan will be treated as a withdrawal. You can expect a whopping 10 percent early withdrawal penalty.
Using your home equity line of credit to pay off your credit card debt
You can lose your home if this doesn’t work out. Credit card debt is often described by unsecured debt, because there’s no real collateral that the credit card company can force you to sell in order to collect on the debt. A home mortgage and home equity loan is known as secured debt because your home is the collateral. But if you fall behind your payments, the lender can easily require you to sell your home in order to collect on the debt.
Avoid buying a variable annuity
When you buy a variable annuity you are making a contract with the insurance company and the money is used to buy mutual funds. Salesmen may try to pitch this kind of investment as a way of buying and selling funds inside the annuity without the tax bills as long as the money is invested. But did you know that you will have to pay income tax on any withdrawals? Plus, if you withdraw any money from your variable annuities before you are approximately 60 years of age, you will also be penalized with a 10 percent fee. So watch out for what may seem like a great deal on that tempting variable annuity. There are often many buried fees that are attached to variable annuities. Make sure to read all the fine print.
Do not finance your new home purchase with a variable interest loan
Avoid those low initial teaser rates for financing your new home. If you can’t afford the home otherwise, you should probably not buy the home. Avoid option adjustable rate mortgages too. This will usually cause your loan balance to become bigger each month as the lender adds the unpaid interest on the balance of your home loan. Watch out for those great introductory rates-they can often turn out to be not-so-great.economy.
It’s time to take personal responsibility and take an honest look at what we have done to contribute to the situation. The fact is that it is easier today than ever before to buy things we cannot afford and do not have the money to pay for. Not only do we convince ourselves that we need things but we convince ourselves that we need them now. Then, not only do we have to pay for things we can’t afford but we have to pay the interest on the loans we took out to pay for them. That doesn’t even take into account the exorbitant amount of fees associated with credit card use and other forms of borrowing money.
Can you imagine walking into a bank and asking for a loan to buy groceries or a new purse? Sounds absurd, doesn’t it? In essence, though, that’s exactly what we’re doing each time we swipe that plastic card for these types of purchases. We’ve gotten so used to shopping with plastic that we’ve forgotten we’re actually borrowing money each time we do so! In order to simplify our lives and live debt free, we have to make an honest assessment of where we are and where we want to go.
Tomorrow, we’ll look more closely at assessing our unique situation to see what changes, if any, need to be made. In the meantime, spend a few minutes thinking about what, if anything, debt is holding you back from or keeping you from accomplishing. What would you have time, energy, and money to do if you weren’t burdened with debt? For more information on how to simplify your entire lifestyle, check out the whole package at http://www.abundantlivingebooks.com/self-improvement/debtconsolidation/
Sincerely, Sabine
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December 26, 2009
Filed under: Debt — Sabine @ 6:30 am
WANTS via NEEDS
Every person who enjoys a good afternoon of shopping knows well the tension that exists between the things we want versus the things we need. In our materialistic society, it can be very difficult to reconcile this tension. Often we convince ourselves that the things we want are the things we need. Most of us (especially those of us deep in debt) are very good at rationalizing our purchases. Here are some tips to help you overcome the urge to buy the things we want, rather than those we need.
What the wants vs. needs battle does to your budget
Buying what we want (or convincing ourselves that what we want is the same as what we need) can be dangerous to our budgets. If you find yourself in debt, there is a very good chance that you have been in a losing battle against your better judgment. But it is never too late to turn the battle around. When it comes to overspending, most of the time it has to do with overindulging. Before you can turn this battle around, you have to convince yourself of one basic truth: all you need is a roof over your head, clothes on your back and food on your plate. You don’t need a particularly fancy roof, expensive clothes or gourmet food. You just need to sustain yourself, and sustaining yourself means treating your hard-earned finances with respect.
Make a shopping list and stick to it
Here is one of the easiest and time-tested ways to buy what you need, and not what you want: make a shopping list every time you go out. Not just when you go grocery shopping, but every time you leave the door and head towards the store. Eliminate the concept of “browsing.” Browsing can easily lead to overspending. Every time you head to the store, make a specific shopping goal. For example, if you’re going back to school shopping tell yourself: “I need to buy a new notebook, pens, a new sweater and two new pairs of pants.” Be very specific and carry a list. Having your needs right there in front of you, in black and white, can be a powerful reminder of why you are at the store.
Ask yourself: Can it wait?
Buying only what you need all the time can be difficult and demoralizing. While you are at your favorite store and shopping for the essentials, you are bound to come across something beautiful that you love and want but probably don’t need, at least not right away. Instead of bemoaning your budget, ask yourself a simple question: can it wait? In most cases, it probably can, and you can even come back for the special purchase when your finances are (more) in order.
Watch who you run with
This can be difficult realization to make, but it is essential if you find yourself overspending. Do you have friends or family members who overindulge or overspend? Maybe they can afford such spending behavior (or maybe they can’t), but if you know you can’t, it’s time to take a break from these acquaintances. Constantly eating out, vacationing or going shopping with these friends is bound to do a number on your financial ledger. If you love your friends, but not their financial behavior, resolve to join in low-cost activities. Invite your friends over for a home-cooked dinner, picnic or to the art museum during free admission day. Be honest with your friends if they question your behavior. True friendship can overcome these spending differences.
Create your own mad money jar
Of course, always scrimping and saving is no fun. Do yourself a favor and create your own private money stash. Sock away stray dollar bills into a mad money jar and forget about it. Six months from the date of starting your jar, use the money for special purchase-something you want but don’t particularly need
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December 22, 2009
Filed under: Debt — Sabine @ 11:22 pm
Money saving is never easy. Most American’s simply don’t do it. Yet, saving money is crucial sometimes. It’s a lot better than using credit. How often do you see a commercial that says, “Save up for six months and buy this new couch set!” America wants instant gratification. Unfortunately, that can cause us to get into debt that we can’t climb out of. Instead of debt, try saving. Let’s say your short term goal is to buy a boat-you have a few options. One option is to borrow the money from a lender. Another option is to charge it on a credit card, and the final option is to save for a few months and buy it with your own money. All three ways will give you that boat. Some of those options are not the wisest. If you use a lender and are late with one payment, they can put on a 99% interest. If you use a credit card, you have interest and more debt. If you save, you’re fine. But, how do you save?
Here are some very practical ideas. First of all, don’t go out to eat. If you do, get water and share a dish with someone. If you calculated the amount of money you spend on dining out in one month-you will most likely be surprised. Save that money, your short term goal is worth it. Another way to save is to cut out some extra spending. Instead of going to see a movie, rent one and stay home with some popcorn. Instead of buying an entire CD, buy the track and save that money. Another way to save some money is to buy bulk. This is especially effective for large families.
Sometimes it’s hard to save up by cutting things out of your life. This is understandable, not everyone can afford to go out to eat as much as others. Not everyone can afford nights out at the movies. In this situation, take your checks and put ten percent away in a savings account right away. Do this for as long as you need. Just act like you are literally making ten percent less until you reach your short term goal. These are just a few ways you can save for short term goals. Some will say that if you need extra help financially, there are trained professionals just a call away for advice. Remember that debt is never a wise choice to make if at all possible, because of interest and other things.
When doing your research, consider the following: Look into these programs: door-to-door, fee-per-ride, ride-share, carpools, and private shuttle services. Some services require advanced notice or reservations. Use services that are no or low cost to seniors.
Use pay as you go or monthly coupons. Use public or private transportation (taxi, mini-bus or van, bus, rail).
If you’d like to keep your vehicle, it might be a great idea to fill in the gaps for when ride services are not available. You might find that you can have greater control over the cost of fuel by maintaining your own vehicle and using ride services.
If you decide to keep your vehicle, be sure to look into lower discounted insurance rates for mature individuals. Also, if you find that you are moving slower when walking, ask your medical professional about assisting you with obtaining a handicap sticker, tag or license plate for your vehicle. Here’s a suggestion, even if you decide to get a handicap license plate, also ask for a handicap tag. That way you can display it when traveling in a vehicle driven by someone else. Check with your local Area Agency on Aging (AAA) for information specific to your area.
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November 17, 2009
Filed under: Debt — Sabine @ 9:50 pm
The avarage person is only 4 weeks pay away from being insolvent.
An emergency fund is necessary for obvious reasons. Unexpected circumstances include job loss, car breakdown, sick kid, and natural disaster. You can build an emergency account using one or more of the following principles:
If you invest in your company’s 401K or other pension plan you may be able to take out money later with little to no penalty in some cases. Depending upon the retirement plan you participate in, provisions are often made for emergencies.
Start a savings accouont – every dollar helps, make it a habit to put at least $10 away every week – and don’t touch it unless it is a real emergency!
Certain life insurance plans and other insurance policies make provision for an additional benefit. That often is a dividend paid back to you via company earnings.
Add money to this fund as often as possible. If you are not comfortable yet with putting away more than a few percent then start out with that. Even a dollar a paycheck is better than none at all. The recommended amount would be $25 to $50 per paycheck or more. That would provide you with over $1000 at the end of the year.
Cut down on items you do not need at least temporarily. For instance, if you are not much of a TV watcher anyway why do you need cable? Likewise, if you are not online much you can get rid of your Internet service.
Find a cheaper phone plan. This is one area where anyone could probably stand to save money. There really are cheaper plans out there, with the same great calling services.
Use at least a portion of your tax return to help boost your emergency fund savings goal.
If you already have an emergency fund do not brag about. Less people will hit you up for money and you will feel less obligated to give in to their pleading requests. (Besides, if your friends are your friends now they will be your friends whether you give them money or not.)
Try to make it a little more difficult to get access to your emergency funds than your regular funds. For instance, you might consider starting your second fund account at a back opposite to the side of town where you live.
Change the size of your emergency fund according to changes in life. For instance, you will most likely need more of a stash built up if you have a family and children.
Cut down on luxuries such as coffee, soda, and other expensive drinks. Either that or purchase them in bulk instead of the two-dollar bottles you normally buy.
Put your money away in a higher-yielding type of savings account such as a CD or mutual fund. However, try to have that fund as close to you as possible in case you unfortunately need it.
Get a temporary part time job. You could also market your skills and hobbies on the side. Besides, you never know when you can make your part time employment or part-time hobby into a full career. An additional benefit of course is that you will have the funds you need in case of certain types of unforeseen circumstances.
Even the smallest amount of emergency fund you set up can provide you with a greater peace of mind. Everyone wants to know that they can take care of themselves or their family. In addition to having a cash fund, one of the types of insurance that is recommended is homeowner’s (or renter’s), health, and car insurances. An adequate life insurance plan is also ideal so certain expenses are paid for after you pass away. If you seem overwhelmed when you read this, just take the process of saving for a rainy day one step at a time. Think about what you can do for yourself versus what you cannot do.
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November 15, 2009
Filed under: Debt — Sabine @ 9:00 pm
Taking medication for different aliments is essential to the treatment of any problems you may be having. However, prescription drugs are expensive and having to purchase many medications can be draining on your wallet over time. Luckily, there are some solutions and ways for you to save money of your prescription medication. Follow the steps below to learn how to save money on prescription drugs.
Buy generic. Almost every medication on the market has a generic equivalent. These generic medications are just as effective and much more cost effective. When you doctor prescribes a medication to you, ask if generic is an option.
Become a smart shopper. Instead of getting your prescriptions from the pharmacy that is most convenient, study the prices of various pharmacies to see which place will save you money on your medication.
Have an open relationship with your doctor. Before buying expensive prescription drugs, speak with your doctor about your medical problems. You may find out about another, cheaper medication, or that you don’t need medication at all.
Get insurance. There are several different insurance companies that are willing to cover your medication expensive to some extent. Find the insurance companies for which you are eligible and see how much money you can save on prescription drugs.
Get a discount card. Most pharmacies have different cards that can be used in the stores that give discounts on prescription drugs, offer coupons or help you to earn points that can go towards future prescription drug prices.
Additionally, besides following the above mentioned steps, remember to make sure hat you need the medication before you begin taking it. If there is a chance that you don’t need the medicine, or can reduce the amount of medication you take, you can save money over time.
Remember that if you are trying to cut costs on medication by ordering medication from different countries, you may not be choosing the safest option. These medications are not always approved or checked by the government and can be dangerous to your health.
Today, it’s common for the average person to owe $10,000 or more in credit card debt. Even if you owe as little as $100 on a credit card, you should always pay more than the required minimum payment. Try to double your payments wherever possible or pay at least 25 percent more than required. For example, if your required minimum is $20, try to send $40 or no less than $25.
Monitor your interest rate. If you have a high rate, ask your credit card company for a lower one. If your credit card company declines your request for a lower rate, consider transferring the balance to another credit card company. Also, consider consolidating your debt to a single card. Credit card companies may “forgive” and remove one late payment within a 6- or 12-month span. However, this is not an automatic service. You must call the credit card company to ask that the late fee be eliminated.
Avoid late fees. Mail your payment no less than five business days before it’s due. In fact, in some cases try to send your payment no less than six or seven days prior to when it’s due because some payments are considered late if received after a certain time of day (e.g., 1:00 p.m.) on the day it’s due. Avoid cash advances on your bank credit card. The interest rate may not make it a feasible choice. Considering the poor economic trends, you may want to apply for credit card insurance to cover periods when you are unemployed. If unable to make your payment, contact your credit card company to suspend your payments voluntarily for three months.
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