Showing posts with label money saving. Show all posts
Showing posts with label money saving. Show all posts

December 20, 2013

Reasons to Use a Financial Management App

If you like to keep track of personal budgets, or if you just ask yourself at the end of the month where did all the money go, it is time to go from a piece of paper and a pen to your financial management app. As smartphones are everywhere now, there is no reason for you to refuse to use an app that would bring so many benefits to you and your finances.

You save Money

It has been proven that people who keep track of their income and expenses, and people who plan their budgets manage to save more money than others do. Financial management apps allow you follow your incomes and your costs, analyze them and see where you can cut and where you can add. Seeing the exact numbers will motivate you to want to save money, and will help you decide on whether to take a loan.

July 29, 2013

Ubiquitous Nature of Obtaining Charge Cards

Obtaining a charge card within the global marketplace may appear to become a difficult process and one that poses high rates of interest supported by low lines of credit.  However, many Aussies might be surprised to understand that Australia’s tradition of strong financial privacy laws and regulations is one of the key reasons Global customers pay more for credit, for example bank financial loans and charge cards, than customers within the United Kingdom. Trying to find charge card solutions across the nation may appear a drudging task, yet it's very achievable to obtain the charge card that matches a financial budget and it has an acceptable rate of interest that's competitive.

July 18, 2013

Negotiate Better Interest Rates

It seems like almost everyone these days has debt somewhere. Whether it's an overdraft or credit card, chances are they you're paying too much interest on it. Switching debt around can be a lot of hassle and can affect your credit rating, but the good news is that you can often save money without even switching who you owe money to.

Most people with credit card debt who want to save money go for balance transfer deals. These can often offer over two years of interest free credit with just a fee of between 2% and 3%. Balance transfers aren't available to everyone however - applying for them is reliant on you having a good credit score. Even if you can do a balance transfer you might not want to, as applying for cards to do it could affect your credit rating. If you're looking to take out other credit such as a mortgage it's best to keep your credit score as high as possible. Thankfully there's other ways to reduce out interest.

July 07, 2013

Start Small: End up Big or How to Save Money with a Little Effort

You can be surprised but a lot of people in this world have no idea of how to manage their own money the way to have a little extra cash to save. And those, who do, are usually known as businessmen and company directors. There are some secrets of making money work on you. Most of people are aware about saving tips, but often forget to follow them. However there’s nothing hard or impossible and it’s up to you to make the right decision. Let’s learn these basic rules to be sure that we are able to save with a little effort.

June 21, 2013

Ways of saving some money on Tax

In life there are inevitable things and practices. Tax is an element of society that has some historical significance and will be around as long as mankind is. Paying of taxes and filing of the same has never been an interesting practice for many and as such, most people have had the habit of rushing through when calculating and remitting their taxes. Well, in as much as the process may seem undesirable, payment of taxes if given the due diligence it deserves, it can make you save an extra coin. In the United States for instance, research revealed that less than 21% of American workers who earned $50,000 and less were unaware of the Saver’s Credit yet they were the key beneficiaries. There are a number of ways in which you can save money on your taxes should you become extra careful while filing your returns.

May 21, 2013

Advice On Cutting Down On Travel Costs

Next to rent or a mortgage, travel costs are likely to be the biggest outgoing for most working people. With fuel costs rocketing, pushing up the price at the pump and on public transport, the key question is how to make every penny count when it comes to travel.

The best money-saving ideas aren’t rocket science, but often the simplest solutions are staring us in the face. So here are 5 quick tips to help you cut down on your travel costs.

May 15, 2013

How to Budget Your Money When You Make Next to Nothing

When you graduate college, life can get kind of boring. You don't go out on a Wednesday night because you can't skip work on a Thursday. You stop looking at the weekend as a time to go party and you start seeing it as a time to catch up on sleep. The worst part about graduating college? You have to start budgeting your money like a grown-up. This means you don't have extra cash lying around for a Taco Bell run at 4 AM or a few hundred dollars to spend on booze. You have to budget your money like an adult now. And I'm going to tell you how to do it.

May 06, 2013

How To Plan Your Preschooler's Birthday Party On A Budget

My four-almost-five-year-old has been talking about his birthday party coming up for the past two months, and it is still two months away! This age is so much fun because they really get excited about their friends they want to invite and what they want to do. But if they go to all their friend's birthday parties at The Little Gym, they will think that is the coolest thing since sliced bread. That is great if you want to spend $250 just on the birthday location, but I want to spend my money elsewhere on his birthday party and not just the location. So here are a few tips to give your preschooler an awesome birthday party without breaking the budget.

May 05, 2013

Extending, converting and opening: Adding value to the home

Those who are happy with their current position in life and don’t see themselves moving anywhere soon might find it worthwhile adding a bit of value to their property through add-ons; additions that you can enjoy while you’re living there and then reap the financial rewards when you sell up.

There are numerous methods in which you can alter your house to make it cosmetically pleasing and improve its value, including room conversions, extensions and even knocking down some areas to open space. Just remember to budget for it, otherwise it might defeat the object of adding worth to the building, so look to compare contractors and even bring in your own equipment from the likes of LG-UK to save some money.

April 02, 2013

The Secret to Saving Money with Little to No Extra Cash

Saving money is the key to financial security for anyone who is hoping to get in control of their finances. When you rarely have any extra money, however, it can be difficult to save an emergency fund, much less for retirement or a college education. Try these tips to save some money.

February 19, 2013

Why should firms outsource their maintenance management?

For businesses - particularly during economic times of strain, wherein tight budgets and pressure are commonplace - outsourcing can seem like an unnecessary expense. It really isn't, though. Choosing to outsource any activity can save you time, money and effort; outsourcing your maintenance management is no different in those respects.

February 02, 2013

Moving Budget: How to Minimize Costs on Moving Day

From buying the house to paying for the closing costs, moving certainly is expensive. When it comes to the actual moving day, you want to keep your costs as low as possible. How can you accomplish this mission? Follow these five simple steps to lower your costs on moving day.

Drive Yourself

You are probably familiar with the trucks you can rent and then drive by yourself. Generally, if you are hiring a team of movers, it's going to be more expensive than if you do it by yourself. Therefore, look into these different types of trucks. It's not as though you need to fit all of your furniture into your car; you just have to drive the truck.

January 25, 2013

Moving to a Care Home: The benefits

Making the move into a care home can be a daunting experience, and for many, isn’t an experience based on choice. 

The Facts

The top five reasons that people currently find themselves moving into care are:

January 09, 2013

10 Money Saving Tips for the winter

With the winter upon us, it’s worth spending time considering some money saving tips. These tips can range from investing in the upkeep of your home to prevent against future problems, and also covers the need to budget properly for Christmas presents. Similarly, it’s important to choose the right kind of loans if you need some extra financial assistance during the holiday. Being frugal, and knowing where to take calculated risks with your money, will help you to control your finances during the coming months. Some tips for saving money during the winter consequently include:

December 13, 2012

How to Get the Most out of a Budgeting Plan

Budgeting is an extremely effective way to take control of where you money goes and reach the savings goals you’re aiming for. It provides structure and simplicity to the saving process.
If you’re wondering how to get started and how to get the most out of your budgeting plan, then read on: it’s simple once you know how.

Monitor Your Current Habits

Before you start structuring your budget, take some time to monitor and assess the way you spend your income. A great way to do this is to keep a diary of all your expenses where you can record details of every purchase or payment.

August 23, 2012

The importance of financial backing in modern university studies

The cost of studying at university has increased significantly in recent years, leading many families to devote at least some of their resources to helping their children attend further education.

In a competitive employment market, the role of qualifications and skills in general becomes ever more crucial; a concept that is not lost on people keen to see their younger relatives get the best start in life.

Of course, not every young person will want to go to university, so there may be an equivalent use for the money; perhaps to help them undertake an extended period of unpaid work experience to help increase their career opportunities.  If you are keen to provide financial backing for your child or grandchild’s education then you should think about how you will be able to fund this.

Put money aside

If you don’t have a significant amount of savings available, there are a couple of options you could consider such as:

* Putting aside cash little by little over the long term, or
* Ensuring that you have a sufficiently high income at the time it is required to enable you to fund your family’s education.

The latter is great if you can manage it, but relies on you being able to secure a good monthly income and making sure you are in that position when your child or grandchild decides they want to study.

In contrast, a long-term savings option could allow you to build up a lump sum over time. So if you know it is at least ten or 15 years until your child or grandchild will be eligible for university, then you can sign up for an account that aims to steadily build up your funds, such as a guaranteed savings plan.


How to mention it

One potential issue is that a teenager may not always be the most sensible when presented with a large quantity of money, so you need to think about how you will tell them that you want to help.

Each case will be slightly different, but it is probably best not to simply say that you have a lump sum of money waiting for them, since they may try to persuade you to let them use it for something less productive. One good approach could be to let them know that you will support them if they want to carry on into further education or training, without mentioning anything about the amount of money you have saved.

July 16, 2012

How to protect your financial assets

Protecting our financial asset is the primary aspect of an investment. Most of the investors by nature are risk averse.
Investors generally feel investments are risky thereby invest most of their savings in financial instruments that earn low income, without paying attention to the inflation aspect. Inflation would erode the value of one’s investment at every passing day.

As we know, historically investment in equities has proved to provide inflation-beating superior return over a longer period of time. However an investor having large exposure to equities can protect his equities investments through exposure to related derivative instruments.
For instance, if a stock that the investor holds is already in profit and if the investor feels that the stock price might fall in the near future temporarily, he can protect his profit by selling a future in the derivatives market.

Another excellent way to protect one’s financial assets is through asset allocation. An investor can have exposure to various financial assets such as equities, bonds, money market instruments, real estate, commodities etc. Asset allocation would help in determining the percentage of an investor’s investments to be held in various asset classes. It has been observed that over 94 percent of returns on a managed portfolio would come from the right level of asset allocation between stocks and bonds.

Benjamin Graham advocated the common-sense approach to investment viz.: 50/50 split between equities and bonds. When the value of equities goes up, an investor can restore his portfolio’s balance by liquidating a part of his equity portfolio and vice versa.
The primary benefit from his strategy is that the investor is not drawn into investing more and more into equities in a rising market, thereby protecting his investments in various financial assets.

Benjamin Graham’s 50/50 asset allocation has been further enhanced by Bogle who advocated strategic asset allocation. This would involve adjusting the percentage for each group of investors after considering investor’s age, financial circumstances and objectives. For this purpose, he classified investors in terms of their lifecycle phases. For instance, during accumulation phase the investor would have larger exposure to equities while during distribution phase, he would have lesser exposure.
These asset allocation strategies have historically proved to have helped an investor to protect his financial assets.

An investor should protect his financial assets not only during his life time but also after his death.
For this purpose, he can follow suitable estate planning strategies. Estate planning helps an investor to protect, preserve and provide for his total assets for the benefit of his family and others. For instance, by creating a suitable trust, the investor’s wealth can be protected from creditors, as such trust assets would not form part of investor’s estate.

By adopting the above simple techniques, an investor can protect his financial assets from the vagaries of market dynamics. Besides the technique would also help him to pass on his hard-earned financial assets to his legal heirs seamlessly.

Allan has been blogging about personal finance and investment for the last 4 years. Allan holds a BA in Business Administration and has a great knowledge of savings accounts. When he is not blogging, Allan enjoys spending time with his family and friends.

July 13, 2012

Creative Tips for New Parents to Save Money

New parents are often overwhelmed by the costs associated with a quickly growing toddler, food, diapers and other necessities. Aside from cutting coupons and other cost-saving discounts, there are many day-to-day purchases that can be made to cut down on the overall cost of raising a child. Raising a child shouldn't have to break the bank and with a few simple lifestyle changes, it won't.


Saving Money on Clothing

Since toddlers grow quickly, it doesn't make much sense to spend a lot of money on expensive clothing. Within a few months, your child will no longer fit in the clothes. Try to buy sizes that are slightly larger than your child currently is and look for discounts at second hand stores, garage sales or even clearance sales at retailers. Find out if your friends have any clothes that their older children have grown out of.

Smart Purchasing

You know that you are going to need diapers, baby wipes and other items that will need to be replenished. When your budget allows, hoard coupons, and visit a warehouse store to buy items in bulk. Many warehouses charge a nominal yearly fee which more than pays for itself when you consider the normal retail cost of diapers for an entire year. You can also consider buying cloth diapers that can be washed and reused several times. This will save money and even help the environment by minimizing waste. This goes for any other paper products that you use regularly in your house. When something you use regularly is on sale, stock up to save money over the course of several months. When buying clothes, go for unisex clothing. It makes it easier to sell and you never know if your next child will be a boy or a girl.

Baby Food and Feeding

Instead of buying expensive formulas consider breast feeding if your baby isn't lactose intolerant. It reduces the amount of money you have to spend on formula. According to Deborah Skolnik from Parents Magazine, you can save $1,400 the first year by breastfeeding instead of buying formula. Additionally, instead of buying baby food, learn how to make it on your own. Not only is it cheaper than buying name brand baby foods, it ensures that your baby gets the freshest ingredients, since you picked them yourself.

Furniture

Again, don't buy new, always check your local thrift store. If you can find a piece of furniture that can be used as a crib, changing table and dresser you can save space and money by buying only one item. Look for combination furniture that has more than one purpose to save money that would otherwise be spent on purchasing multiple items.

Get Creative

Post your baby pictures online to a photo-sharing site and allow friends and relatives to order prints. The fees you receive from the prints can go toward your baby expenses while providing something of value to your friends and relatives.

What have you done to save money with the expenses of raising a child? Share your stories and tips!

Pat Marano is a freelance writer that specializes in research-oriented and money saving tips. As a writer, one of the ways in which he saves money with clipping coupons, and using Amazon Cash Back programs and other online incentives.

July 09, 2012

How to save money with car finance

Buying a car, whether new or used, is always an expensive process. A decent, reliable car is going to set you back a few hundred to a few thousand dollars depending on the model that you opt for. However, there is one way that makes purchasing a car a little bit easier on your bank balance at the time and this is using car finance.

Essentially, car finance is paying for a car over a period of time. You might choose to pay for a car over the period of a year, 2 years, 3 years or even 5 years with some companies. This allows you to purchase the car you want without having to have the whole cost of the car in cash right away.

However, car finance can be an expensive process and if you choose the wrong company/deal, you are going to end up paying over the odds. Here are a few ways that you can make sure you save money when it comes to car finance.

#1 - Check the interest rate

When you purchase a car using a car finance company, you will usually have to pay at least some interest on the purchase. Now, these interest rates really do vary a lot so you need to take a good look at these when you're considering getting your car. Ideally, you want the interest rate to be as low as possible but it is usually affected by a number of factors.

Let's say that you find car finance with an interest rate of 10 percent. If your car costs $2000 initially, the total repayment you will have to make over the allotted time would be $2200. However, if you had an interest rate of just 3 percent, the total cost of the car to you would be $2060. As you can see, the interest rate really does affect the cost of the car. Interest rate is also referred to as APR in some instances, so look out for that too.

#2 - Work on your credit rating

Credit ratings will affect the price you pay for almost everything if you are getting it on finance. Ensuring that your credit rating is as good as possible will usually mean that the interest rate will be lower when it comes to getting car finance. There are a number of ways to increase your credit rating and many of you might already have a great credit rating anyway. However, if you want to improve it more, you might want to ensure that you pay bills on time, pay off credit cards in full and so forth.

You also need to ensure that there are no cases of stolen identity as this can really affect your credit rating badly. If you have ever been made bankrupt or being in any serious debt, chances are that you will need to work on your credit rating before taking out car finance of any kind; unless you want to be paying over the odds.

#3 - Compare car finance deals

As we mentioned briefly at the beginning of this article, interest rates for car finance deals will vary significantly depending on a variety of factors and the company you go for. This is why it often pays dividends to really shop around. You should use car finance comparison websites to check the different rates available as there may be completely different rates available for the exact same car from different companies.

As well as this, you should also think about what you can actually afford in terms of monthly repayments so that you can budget. Failure to do this will often result in late payments and higher interest rates; not to mention a lower credit score overall.

Conclusion

As you can see, following these few simple steps will really help you to save money when it comes to car finance, but will also allow you to get the car you want without having to break the bank (at least not all in one go). Aspects such as improving your credit rating may not be possible overnight, but with a little work, you will see interest rates fall for everything you purchase.