March 24, 2010
Filed under: Debt — Sabine @ 4:12 am
Are you stressed out over your finances? Do your finances remind you of a weedy jungle, full of chaos and danger?
If this description strikes a chord, it’s time to get control over your financial life. One of the biggest benefits, and curiously under-touted aspects of simplifying your life, is that it can help you save money. Simplifying your life can not only help you save lots of money, it can also help you breathe easier. And who doesn’t want to breathe easier?
These things-money, stress and organization-are intricately connected to one another. When we get one into control, the others will follow. Here are some tips for getting control of your finances, save money and lower your overall stress levels.
Spend 15 minutes every day cleaning up your finances
Many of us who find ourselves trapped in a chaotic financial life probably overlook the regular financial housekeeping that can keep the chaos at bay. It can be easy to forget, avoid or simply overlook several small tasks. These things eventually gather dust, take up space and pile up to the point that they become overwhelming, scary and bad for our finances.
Here is a simple habit to fall into that can help protect you from the horrible sight of stacks of unpaid bills and stray papers overflowing on your kitchen table or desk.
Spend fifteen minutes each day cleaning your desk, kitchen table, or wherever it is that you keep your important financial papers. Go over bills, throw out old mail, sharpen your pencils, and put things in order.
If you are not the kind to keep extensive tabs on your papers, make it easy for yourself. Dedicate one desk drawer to your bills and other financial papers. Go through your drawer each day and make sure that there is nothing in there that will surprise or scare you one day. Simply dedicating fifteen minutes each day is an easy way to simplify your life, stay organized and save money on unpaid bills, fines or other surprise costs.
Get a bill calendar
With many of us juggling numerous bills, it can be easy to drop the ball every once in a while. Keep things simple and your bills paid by keeping a handy bill calendar. Buy an oversized calendar and put it somewhere easily visible. Make a note of when you have to make payments. Even simpler, automate your payments online if possible.
Make your own easy household products
Here is an easy way to save money and keep things simple. Why spend five bucks on a bottle of multipurpose cleaner when you can spend pennies on your own homemade household product. Replace your expensive Windex cleaner with your own concoction of ammonia, vinegar, water and rubbing alcohol. If you want it to look blue, add a few drops of blue food dye. You can make a full bottle for about 35 cents. This is an easy way to make an effective, safe and very inexpensive household cleaner.
Keep household essentials in stock and save money by buying in bulk
Ever reached for tissue and find that you are out? Or what about needing a napkin and finding none in stock?
Not having household essentials on hand can be stressful and frustrating. Many times when we are hurried and harried and shopping for a household essential, we tend to overpay. After all, who has time for comparison shopping when you are in the midst of a throbbing headache? Save yourself the stress by shopping in bulk for household essentials. You should only buy in bulk when you know you’re getting a good deal. If tissues are on sale, grab a few boxes. There are many non-perishable household essentials that are easy to buy in bulk, including toilet paper, toothpaste, tissues, napkins, canned food and others.
Sign up for email updates
If you can’t automate your payments but you check your e-mail often, signing up for email updates is an easy way to keep track of your accounts. Most credit card companies offer many easy tools for keeping a close eye on your accounts.
More Information on Eliminating Debt
March 20, 2010
Filed under: Debt — Sabine @ 11:56 pm
7 Pointers to Saving Serious Money!
Living below your means and sticking to a budget does not have to be painful. Many reformed shopaholics and over spenders who adopt a more frugal lifestyle like to spread the gospel of living below your means.
Why do so many people who adopt frugal habits speak so highly of this lifestyle? There are several reasons. First, living below your means keeps you out of debt. Living below your means allows you more freedom in many parts of your life. Living below your means also lowers your stress. And living below your means keeps things simple. Here are seven painless pointers for lowering your bills and adopting a lifestyle that allows you to live below your means.
Learn how to cook and brown bag your own lunch
This is a very simple way to keep your bills low. You can save money without even feeling like you’re saving money and even adopt a healthier lifestyle. If you enjoy eating out, you probably don’t even notice how much you spend on this expensive habit. This doesn’t mean that you have to give it up entirely. If you go out to eat several times a week, take it down to one or two times a week. Learning the pleasures of preparing your own meals can introduce you to a whole new world and save you lots of money in the process.
Don't eat your hard earned cash
Keep your car for as long as possible
Buying a new car is one of those major purchases that can keep you drained of savings for years. Instead of buying a new car, or leasing, every few years, keep your car for as long as you can and watch the savings add up. Keep your car in good working order by taking it for regular maintenance and driving as lightly as possible. Become attached to your car, take good care of it and hopefully you will give yourself many years of trouble-free driving without having to make those hefty new car payments.
Reconsider your living situation
Are you paying a large rental bill for a two-room apartment and you live alone? Are you paying too much on your mortgage balance each month? If you are serious about lowering your bills, it’s time to sit down and reconsider your living situation. Maybe you can live just as comfortable in a somewhat smaller, and less expensive, apartment. Maybe you can lower your monthly mortgage payment significantly by refinancing your home. Whatever your situation looks like, sit down and see how much you’re paying per month on living expenses. Chances are, there are ways to lower this expense significantly.
Always buy the generic brand
Most people who buy name brand household products do so out of habit. These days, you can find high quality products for much less than the name brand simply by buying generic. You would be surprised how much you can save on staples such as detergent, disposable diapers, canned food and more. Expect a savings of approximately 30% simply by switching to the generic brand.
Get rid of your land line if you’re not using it
Do you still have a land line that rarely gets used? Do you live by your cell phone? These days, with increased cell phone stability and advanced technology, most people use their cell phone for most of their communication needs. If this sounds like you, perhaps it’s time to cut that land line service and save on your monthly telephone bill.
Shop second-hand whenever possible
New clothes, furniture and electronics are nice, but they are usually marked up pretty high. Watch the prices plunge as you step into your local second-hand store or thrift shop. You can buy high quality clothes, furniture, books and music at your local second-hand shop at a deep discount.
Pay yourself first
This long-held adage still rings true today. Most people in debt are anxious about saving, but it’s time to deposit a little into your own private savings stash every month. Make an emergency cushion for yourself by having ten percent of your pay check automatically deposited into savings account each month. But if you are in deep debt, pay this down first.
More Information on Eliminating Debt
March 8, 2010
Filed under: Debt — Sabine @ 5:24 am
Follow the steps below and begin saving money on your baby products.
Having a child is a wonderful experience; however people often become pinched for cash when spending money on different baby products. Baby products can be expensive and ad up over time, but luckily, there are ways to cut corners and save money on different items that you have to buy for your child
Use store brand products. Instead of buying expensive brand name products, use the generic store brands as a substitute. These products are usually always the same quality, but for half the price. A friend of mine works in a factory – once a week they stop the machines and put the ‘home brand boxes in. The same product as you can buy for 3 times the money!!
Find a WIC program. There are several Women Infant and Children programs throughout the country which work to help women who are living on low incomes. Find one of these programs in your area to see how they can help you save money with different products.
Use cloth diapers. Although many people don’t seem to like this idea, it is really an easy way to save money on baby products. Instead of spending money on diapers, you can save money by washing cloth diapers and reusing them.
Use coupons. Check the Sunday paper, the packaging of products or call the manufacturers directly for coupons. The money you save on individual items adds up over time.
Nurse your child. If you are physically capable of nursing your baby, you should do this instead of buying formula. Purchasing formula for your child adds up over time so eliminating this product will save you money.
Additionally, besides following the above mentioned ideas, remember that if you have to buy formula for your baby, choose the powder formula instead of the pre-made formula. It is the same quality and cheaper in price.
Remember that if you are trying to cut costs on medication by using a cheaper substitute, you should contact your physician to make sure that the medication you want to switch to is a healthy and effective substitute for your baby.
Right about now is the correct time to plan for retirement. Assuming there is a steady career in place, and possibly a home with a family, the target age for most individuals is around fifty-five. Yet in today’s society the average age of retirement continues to be pushed back, currently the average age stands at sixty-one and a half years of age. Now that may not seem like much, but considering the average life expectancy is about eighty-three years, losing six and a half years is approximately one third of the remaining years.
Of the aforementioned, the only one that can be deemed reasonable is the weakening economy. When looking at a bank account in middle age, there really is no reason to worry too much about other people. The children will eventually be earning their own money, and hey if there is a need for some side cash in retirement would it not be better to retire seven years earlier and work part time for a few years? These questions should be looked at on a per case basis, but really it is not the time to put away the dreams that have been made for the sake of others, or the sake of fear.
Now is the time to make a plan for the future. There is no excuse for being taken off guard by the issues involved in retirement, really with a proper plan the retirement can be met earlier than the average, and while losing six years may not sound like much now, when there is only eighteen left to live, it will.
More Information on Eliminating Debt
