Financial Updates

The expense of higher education seems dear when you’re looking at tuition and student-loan interest rates, but when you start factoring in the cost of living, the numbers begin to seem staggering. If you’re pinching pennies in college or grad school, you’d better be prepared to tap all your creative faculties. Living frugally isn’t impossible, but it is at times an art form that requires experience and energy to master. From buying generic brand goods to riding a bike, these five tips to save money will help you meet your budgetary goals:

From breakfast cereal to prescription drugs, you can save money on many products simply by giving up the brand name. Generic brands are often able to produce identical products at lower prices simply by cutting down on marketing and advertising costs. You will be amazed at the difference: Generic cereals are often half the cost of the original, and prescription drugs can be hundreds of dollars cheaper.

One of our nation’s most under-appreciated and valuable public institutions is the public library, and students also have access to well-stocked private institutional libraries as well. Avoid purchasing textbooks and research materials unless absolutely necessary, but make sure to check out the books you need early (i.e before your classmates do!).

Coupon-clipping has fallen out of fashion, but there are zillions of apps that will help you save money in ingenious ways. Savored allows you to book last minute reservations for fine dining at deep discounts, which is an unbelievable combination, and Foursquare will tell you where your friends are shopping and eating, while also alerting you to sweet deals at the same locations.

Biking will save you the expense of gas or a monthly subway pass. Plus, in some large cities, a bike will get you where you’re going faster than a car or public transportation! It’s the right thing to do for the environment and an excellent form of exercise. If you’re not convinced yet, you’re probably just being stubborn. Loosen up -- by taking a ride!

Printing on campus or at a copyshop costs a fortune, while older-model printers can be bought dirt cheap. This will also save you the trouble of waiting in line to print, and dealing with the paper jams in the arcane industrial-sized machines on campus.

While these five tips to save money will help you shrink your spending, they aren’t the only ways to reduce costs. The trick to living frugally is making conscious decisions about how you spend your money and bringing those decisions into line with your real priorities. Marketing and advertising are designed to provoke impulse spending on items we don’t really value, and this is one major area where Americans lose control of their budgets. If you think about why you want something, how badly you want it and what else you could spend the money on each time you take out your wallet, you’ll be surprised how many purchases you can do without.

About the author : 

Melissa Woodson is the community manager for @WashULaw, one of the premier LLM programs offered through Washington University in St. Louis that allows foreign attorneys to earn their llm degree online. In her spare time, she enjoys running, cooking, and making half-baked attempts at training her dog.

If you are looking for an easy and convenient way to keep track of your finances, both at home and on-the-go, use your iPhone, Android or Blackberry phone to organize your financial life. There are hundreds of personal finance apps available for download, but only a few can provide a comprehensive picture of your current and future financial life. 

1. Mint.com (iPhone, BlackBerry and Android)

Mint.com is an impressive personal finance app that allows users to manage and track spending and savings. The app syncs with the Mint.com website, allowing users to access their profile directly from their smartphone device. This handy app compiles a wealth of financial information including user’s bank accounts, credit cards, loans and retirement accounts. 

In addition to providing a comprehensive picture of user’s financial information, the app tracks and charts spending, provides handy bill pay reminders and categorizes debit and credit card transactions. One of the app’s coolest features is its ability to create charts and graphs that track your spending trends. The app also allows users to compare their spending habits with other Mint.com users. The Mint.com app is free and can be downloaded from your smartphone’s app store.

2. MoneyStrands (iPhone)

MoneyStrands is a personal finance app that compiles and categorizes information from your checking and credit card accounts. In addition to compiling financial information, the app provides a visual spending analysis to help users better understand their own spending and saving habits. 

One of the app’s best features is its ability to compare user’s spending habits with other people who share similar demographics. MoneyStrands is available for the iPod Touch and iPhone and can be downloaded for free. 

3. RetirePlan (iPad)

If you are close to retirement or looking to get a better picture of your post-retirement budget, RetirePlan can help you gain a better understanding of your future financial life. This handy app allows users to upload their financial data and run scenarios to see how different variables will impact their retirement plans.

The app helps users determine the best age to retire, charts annual retirement savings goals and projects how long your retirement savings will last. One of the app’s best features is the variable calculator. The variable calculator allows users to see how changes in their pension, social security, interest rates and inflation will impact their retirements saving. RetirePlan is only available for the iPad and can be downloaded from the iTunes Store for free. 

4. PayPal (iPhone, BlackBerry and Android)

If you like making online purchases but don’t want to use your credit or debit card for your transaction, then you probably already have a Paypal account. If you have a PayPal account, be sure to download the PayPal app to your smartphone to keep track of your PayPal account information and online spending. 

This handy little app allows mobile users to check their Paypal balance on-the-go, withdraw and add funds to their account and transfer cash between their PayPal account and bank account. Download the free PayPal app from your smartphone’s app store. 

5. Smart Money Retirement Planner (iPhone and Android)

Whether you are fresh out of college or ending your career as a business professional, it never hurts to think about retirement… and the SmartMoney Retirement Planner app can help you do it! This powerful app helps users understand how their day-to-day financial choices impact their plans for retirement.

The app compiles user’s demographic and financial information, including assets, 401K and home equity, to run scenarios which determine how inflation, changes in social security, debt and taxes will impact their retirement plans. SmartMoney Retirement Planner is available for iPhone and Android phones and can be downloaded for free. 

===================================================================

About the author : Rosie writes on behalf of a number of businesses ranging from Auto Enrolment Administration to holiday destinations. She enjoys reading design and technology blogs and baking sweet treats. Any opinions expressed in the article do not necessarily represent the businesses Rosie writes for.

Another year has passed. Unfortunately while many people had lost their homes, jobs and money in the stock market during last year, it may seem almost hopeless to make any personal finance resolutions for 2012, or is it? There is hope, and with practical steps there are ways you can begin to immediately save money, and even invest in 2012.

People are frantically searching for ways to protect and save their hard earned money this year like never before. Because of all the government bank bail-outs, banks no longer inspire people to invest. On the contrary, the current financial situation in America has inspired people to save money in 2012.

Credit Cards – One of the first personal financial resolutions for 2012 should be to get the lowest possible interest rates on any loans or credit cards you may have. In this way, you can save a little or a lot of money each month, which can add up to big saving over the course of a year.

You can do this by transferring existing credit debt, if possible, to a 0% credit card, even if it is only for a few months to take advantage of the low interest rate. Once the 0% credit promotion has expired, you can then either transfer the credit to another card with 0% or if your credit is ok, apply for another card or loan that has 0% interest rate.

In this way you could possibly avoid paying interest on your loans and credit cards for six months or more, and then use the money you save to pay down your credit faster. Your ultimate financial goal for 2012 should be to pay down your debt, and ultimately eliminate it.

Tax efficient savings account -- Depending on how much savings you may have stored up, you should find out how much tax you are paying on your interest, so you don’t have to pay more than you have too. Usually a normal savings type of an account will be taxed at a regular or standard rate, while some creative savings schemes have been known to pay nothing in tax.

Make a list – It is amazing to discover that many people don’t have a set or fixed budget. Whether you have a budget or not, making a list of your daily expenditures is a great way to see where every penny you spend goes each day. In this way you can get an idea of what necessary and no essential things you buy daily. Once people do this, they are amazed how much money they spend each month on non-essential items and activities.

Controlling spending may seem hard at first, but your goal is to save as much money as you can, while at the same time paying down your debt each month to meet your personal finance resolutions for 2012.

Cancel auto-payments – You may want to re-evaluate any monthly or yearly auto-payments on your credit cards and PayPal account. You may be able to do without some of the monthly or yearly services and subscriptions you have. The money you save from cancelling them, along with the few dollars saved cutting back on daily miscellaneous spending can add up to a lot.

Now-a-days people are shocked to discover with regularity auto payments being taken from their PayPal accounts from services or subscriptions they assumed where cancelled months earlier. This can be a hole in the boat of any attempt at saving money.

If you’re looking to find some personal finance resolutions for 2012, then look no farther than your utility bills. In some regions domestic fuel prices skyrocket more than 20% last year alone! Turning off unnecessary lights whenever possible can save more than you realize.

Using lower watt bulbs, using solar lights outside your home and tinting your windows are all effective ways of whittling away at your utility bill each month. Installing a programmable thermostat for the winter and summer months when you’re sleeping or not in the house is a great way to reduce you energy bill as well.

Surprisingly, most people feel like they have good, or great insurance for their vehicles, but the truth is that most people pay too much for basic car insurance. Changing insurance could save a few hundred a year, especially if you pay yearly rather than monthly to avoid extra charges.

You can’t depend on the government or anyone else to help you save money during these difficult times. So, are you willing to make these part of your personal finance resolutions for 2012? Your financial future is up to you.

If you are concerned with the future and your financial situation after you have left the world of work, this is a good thing. Too few people nowadays think about how they will fund their lifestyle when they reach retirement age and such people could find themselves without adequate income if they do not plan for the future with a pension. Some pension funds are better than others too, and subsequently for people who do have a pension, a pension transfer can be in their best interests.

The government and other official organisations are trying to impress on people the importance of pensions. This advice is aimed particularly at young people as there are many who do not have a pension plan at all. The sad truth is that if these people do not get themselves sorted with a pension, they will find themselves poor in old age – a time of life when people want to be comfortable and to feel secure.

It is therefore essential that people start to think about pensions as something that they do need, rather than imagine that something will come up by the time they are ready to retire. Usually this something doesn’t come up so it is wise to plan ahead.

If you already have a pension then that’s obviously good news; however, there may be a better pension out there for you. Pension products vary widely as they are intended to cater for people with differing circumstances and needs. This means that there may be a pension that is more suited to your situation. Don’t feel that you are trapped with your current pension provider as it is very possible and relatively easy to do a pension transfer, and there is a lot of pension transfer advice available.

Pension transfer advice can be found in all sorts of places, from websites such as this to with companies that specialise in pension transfers. It is wise to do your research and it pays to read-up on the different pension products currently on the market before making any decisions. Scouring the market can also help you transfer your pension without having to pay a fortune, as there are firms that will do it for a very fair price. Transferring your pension is also an investment so you should consider the potential benefits of moving providers in the future.

If you want to have a comfortable retirement then a good pension to suit your circumstances is an absolute must. This could involve getting a pension in the first place if you do not have one now – and that is something that you should start looking into today. If you do have a pension already then a pension transfer could be prudent, to maximise the amount you will accrue and have to enjoy when it is time to leave work for the last time. With adequate funds your retirement could hold adventure, travel and fun, so start planning now.

There have been a number of mis selling scandals hitting the financial services area lately, and it seems like every week there is new area affected. One area where the problem has been rumbling on for years now is pensions, and there are no signs that the scale of it is getting any better. The number of people claiming compensation for a mis sold pension increases all the time, so if you think you might be one of them read on.

Obviously, your first concern is to find out whether you have been mis sold a pension and whether you are entitled to any compensation. The section below gives some examples where it has occurred, though it is by no means exhaustive – if you have any reservations about any advice you have been given, then contact a pension’s expert who will be able to advise you.

These were very popular in the late 1980’s and early to mid 1990’s, when interest rates were high. People were advised that could take out an interest only mortgage and start a pension as a means of paying off the mortgage at the end of the term. In many cases, these failed to grow as predicted or promised, leaving homeowners with a shortfall that they had to find themselves.

In 2006, rules on switching pensions were relaxed and many advisors had their clients change providers, either on the promise of better returns or to make the administration easier. While this did benefit many people, a number lost out. They weren’t told of charges, or the risks associated with the new funds, or the fact that it wasn’t an equivalent scheme and all sorts of other things that led to the actual returns being lower than what was promised.

These pension schemes came with a number of guarantees, not least of which were minimum levels of growth and guaranteed levels of income once you retired. Many people were advised to transfer them into other schemes, such as personal pensions, which appeared to be able to give better returns. However, if the pension didn’t perform as planned or as you were advised then there is a chance that you may have lost out financially and therefore that it was mis sold.

People approaching retirement, i.e. those in their 50’s and 60’s, are often advised to move their pension ‘pot’ into other schemes and funds that would supposedly protect the funds already built up. As with the other examples, a number of people may have lost out because the advisor didn’t take into account their views regarding risk, or tell them about charges, or explain properly the options available.

If you think any of the examples above apply to you, then you need to get your claim checked out properly. Due to the complexity of the rules around how pension schemes work, most people should go to a specialist pension claims company who will investigate on their behalf and, if they have been mis-sold to, raise a claim for compensation.

Christmas is a time when overspending can get the better of even the most frugal budgeter, which is why you need to use these tricks to keep your finances on track. Christmas is all about being swept up by the spirit of the love, community, family and giving of the season, so it is no surprise that many of us get swept up to such an extent that we forget about our finances.

Instead, make sure you take the time while you’re waiting in the inevitable Christmas time lines at the cash register, to really think about the purchase you’re about to make. If you’re not sure about a purchase , you don’t know if you really need it or you think you might be trying to convince yourself you do need it, then get out of the line and take a walk to make sure you’re making a conscious purchasing decision, for something that is clearly on your list.

Other ways you can avoid overspending at Christmas time are :

Just because Christmas only comes around once a year it doesn’t mean you have to blow all of your spare cash on the celebrations. Instead, set your spending based on what you can afford, by allocating 1.5% of your household income to go towards your Christmas shopping. Allocating a percentage of your income to your Christmas spending allows you to be realistic about what you can afford, rather than pulling a random number out of the air, or not pulling out a number at all.

Now you have your overall spending budget, allocate a budget for each person you are buying for this Christmas. This stops you from spending all of your budget on the first few people at the top of your list, and then feeling guilty about the people on the bottom of the list and continuing to spend. It also means you’ll be able to fairly even in your spending for each person.

Also make sure you keep your Christmas shopping list with you at all times so that you will always know where you are with your budget. This allows you to make a quick purchase when you see something on special which you can check off of your list, and you can also make sure you don’t double up on gifts for the same person, because you’ll know who you’ve already bought for and how much you’ve spent on them – and more importantly how much you have left to spend on them.

Running out of money is a powerful motivator to avoid spending more than you can afford. Therefore, use a debit card which draws from your own savings account, or a prepaid Visa card which you can load up with your own money before you go shopping. In this way you know there is no more money to spend once your Christmas budget is gone.

When you are rushing around the store at the last minute looking to check gifts off of your list for everyone, then you’re more likely to buy things just because they are there, not because they are on your list or would really suit the person you are buying for. You’re also more likely to overspend because you don’t take the time to shop around, instead buying the first item you see just so you can escape the mad rush of people. Giving yourself plenty of time to organise your Christmas gifts also means you have the time to think of more meaningful gifts, and the time to make gifts if you choose.

A gift you make can often cost much less that one you buy, and mean so much more. You could bake gift baskets for your friends and family or make up a box or basket of the person’s favourite things such as their favourite foods, drinks, cosmetics and stationery. You can also play to your strengths, so if baking isn’t one of your strong points you could write a song or a poem, create a piece of artwork, take a series of photographs of the family or the person’s favourite place and frame them.

You could even forgo traditional gifts all together and make a donation to charity in each person’s name. Many charities will even send you out cards with a picture of the chicken, goat or well your donation helped buy. When you take the time to really think about Christmas and your gift giving you will find there are a myriad of ways you can save money and curb your spending without missing out on any of the fun and excitement of the holiday.

Cash back shopping sites on the internet have become an integral part of the shopping experience and shopping expectations for many people. With numerous sites which offer cash back shopping, it is considered best to belong to several different sites in order to get the best deals from the most retailers. In this manner a customer can check to see which site is offering the best deal on a specific product or the best deal for a specific store before they purchase, then purchase the product through whichever site has the offering decided upon.

Some cash back sites offer a sign up bonus and offers a percentage of the cash back earned by anyone who has joined their site through a referral link posted by the customer. Some sites offer multi tiered percentages earned through referrals while some sites only offer a sign up bonus or a single tiered percentage program to their members. Each of these have the advantage of the customer earning money back when they shop as if they were actually getting paid to shop.

There are many financial cover letter examples available on the web, with all of them having a different approach but with similar context. Some examples of cover letters for financial sector jobs include financial planning cover letter, financial advisor cover letter, cover letter for financial analyst, and many more.

In this section, we have given the key skills and knowledge which one must possess, so that they can be shared in the cover letter to grab the employer’s attention, and win the job opportunity. Here, we have particularly tried to help you write the financial cover letter, which can be utilized by Analysts or Consultants who provide services for helping families to resolve their financial planning needs. There can be a need for financial planning for families for various risks arising out of causes such as divorce, death of the earning member, natural calamities, future financial security, and investment options or for general insurances such as vehicle, fire, medical, retirement/pension and or kids.

There are many reputed financial services providers in the market, and all claim to provide the best of services and investment options. In such situations, it often becomes difficult to funnel them to the best provider. Here, we have listed some basic queries for which a probable customer seeks answer in deciding the ideal financial plan for the family. To be an effective financial planner or consultant, you ought to have all the information, for successfully addressing the customer queries. This can be done, if you are aware of customer needs and wants, and the changing behavioral patterns in consumer buying process.

Given below are basic queries for which today’s customers seeks answers from the consultants, which you must know to meet the needs. It includes:

1.Comprehensive knowledge of different financial plans for family, and the benefit they provide.

2.Comparative knowledge of all financial plans available in the market, risks covered and minimum requirements to avail the plan benefits.

3.Demographic distribution of the place, in terms of income. This will help you in understanding the purchasing power of customers, and their financial status.

4.If you provide investment options, you must have thorough knowledge of market behavior and trends, best investment options, and risk associated with them.

5.One must possess all the required mandatory certifications, to win the trust of customers in terms of reliability and security.

6.Be aware of market trends and latest developments such as new plans or providers, to retain competitive advantage.

7.Redressal mechanism of the service provider for grievance handling

If you are able to address these queries of the customers, you can be an effective family financial planner, and mention them in the financial cover letter with confidence to win the job opportunity.

Some popular plans which you must know and the customer looks for are:

a)Retirement/pension plan

b)Education plans for kids

c)Monthly return plans

d)Market investment plans

e)Life insurance

f)Medical insurance policies

g)Insurance claims and processing

h)Home or other loans providers

These concerns are common to most of the families, and vary in magnitude in terms of budget allocation, from family to family. As a successful family financial planner, you must be able to provide a suitable option, and only then mention them in your financial cover letter.

Being writer from last 2 years I enjoy writing on cover letter for resume, career guide, and resume writing tips. Also, you can find Sample Letters on my blog http://resumecoverletterexamples.blogspot.com/

Even savvy shoppers sometimes struggle when it comes to buying household items such as budget beds and mattresses. They’re not the sort of purchase that you make every year, and buying guides aren’t as common as they are for major purchases such as cars and electronics. That said, there’s no reason to dread your visit to the mattress discounters – these simple tips will help you to find the perfect bed for your needs, and your wallet.

1.Firmness matters : When buying budget beds, look for a bed that won’t give, but a mattress that will. You want the frame of the bed to be nice and sturdy, and you want a mattress that will support your body, but also mould to it slightly. A mattress that’s too firm is almost as bad as one that’s too soft.

2.Coils, springs or pockets : The type of mattress you choose will come down to a compromise between budget and personal preference. Independent coil mattresses are expensive, but a good choice if you can afford them.

3.Negotiate : Even at a mattress discounters, it is possible to haggle. You probably won’t get a discount on the cost of the bed itself, but you may be able to get free delivery, or some linen of your choice thrown in with the purchase. It never hurts to ask.

4.Know your budget : It’s a good idea to have a firm idea of what you want to spend before you go to the store. Don’t be shy about looking at budget beds that are slightly out of your price range, though. If you know your budget, and you don’t allow yourself to become emotionally invested in buying that slightly more expensive bed, then you will leave yourself in a good position to negotiate with the mattress discounters. If the salesman believes that you are willing to walk away, you will hold more power in the negotiations.

5.Check the warranty : A bed is a big purchase, and you will want to know that it really will last you for ten years. Make sure you know what warranty you’re getting, and that you understand all the terms. For example, some mattresses require that you turn them every six months, otherwise you’ll void the warranty.

Brand matters, even when it comes to budget beds. If you have the choice between a well-known brand such as “Silent Night”, or a completely unknown foreign brand, make sure you know exactly what the differences are. Don’t just believe the salesman at the mattress discounters when he tells you “Oh, this one is just as good”. If the salesman can’t give you concrete information as to how the two brands differ, then don’t buy. There are some cases where the only difference is the sticker – but in many cases there are differences in the materials used, or the quality control. Do you really want to take that chance when it’s your body that will be sleeping on the mattress for many years to come?

This post was written by James Harper on behalf of the Original Factory Shop. James writes on subjects relating to the home and loves passing on tips for frugal living.

With the cost of college education skyrocketing every semester, many college students are struggling to afford a degree. We all know the importance of a degree for education and job placement, but with such high tuition costs, students and graduates are forced to live off of roman noodles and PB&J sandwiches to afford textbooks and supplies. Most universities charge additional outrageous fees on top of tuition, even for mandatory classes. As a recent college graduate with student loans, here are three tips for saving a lot of money in college and after graduation that I live by and have saved me thousands of dollars :

1. Never buy a new textbook for yourself only - 

The cost for textbooks these days are astronomically inflated. When possible, rent your books. There are several companies that allow you to rent textbooks, and this can be a huge savings when compared to the cost of buying a book you won’t use after the class. If you can’t rent, try to buy a used edition of the textbook. You can usually save around 50% of the cost compared to a new book, and who cares if someone wrote something in the margins or highlighted a few pages. 

Undeniably, there will be situations where you are forced to purchase a new textbook. If a professor writes a book that is specific to the class you are taking, it’s doubtful you can rent it and the previous semester’s version is out of date. In this case, find a friend to share the book with. By splitting the cost and sharing the buyback (if you’re lucky to get anything for it at the end of the semester), you can save money and shouldn’t be too inconvenienced. The more people you share the book with, the cheaper the cost to you. Keep in mind that this will also mean more people needing the book during exam times when you will be relying on it the most!

2. Living with a roommate - 

Whether in college or not, one can usually find a bigger, CHEAPER place to live when living with more than one person. Additionally, utilities are cheaper per person and goes down as more people live in an apartment or house. Now is the time to live with another person, especially if you don’t have a wife, family, or others commitments which would make living with a roommate difficult. If you can’t find a roommate to live with, check the internet for people looking for a roommate. There are several websites that are similar to Craigslist where people leave postings soliciting a roommate or subleasing a room (where you can usually find a discount compared to the actual price). Just make sure to do your research and actually meet with the other roommates before you move in!

3. Purchase non-perishables in bulk - 

Especially if you are living with roommates, purchase non-perishables in bulk. For example, if you are to buy a single bottle of water, it costs about a dollar. However, you can purchase a 24 pack of water for as little as four dollars! Buying in bulk is a great idea for any beverage. If you are living with a few roommates, or even on your own, it might even be worth buying a membership to Sams Club or Costco in order to save money with bulk purchases.

These tips are just a start to saving up money to get through college and start paying back student loans. There are several other tips that help save a few dollars here and there, such as purchasing generic over brand names and couponing. And these little savings add up to a big saving over time. These three tips I shared can help save hundreds of dollars per month! They are simple and center on one’s willingness to share and be a good roommate. With these three tips in mind, you are well on your way to paying off those students loans and other college debts in no time.

Give your car good and regular maintenance – giving your car a good maintenance is one thing, but doing it on a regular basis is another different thing altogether. If you really want to benefit from the best mileage of fuel, ensure your car is properly maintained and on a regular basis. Maintenance can be as simple as tire rotations and regular oil changes, ensuring the tires are well inflated at all times, that the air filter is clean and at its best.

Living a frugal life is the key to helping you save your money. Being frugal doesn’t mean depriving yourself of the things you enjoy. Rather, you make yourself pick wiser choices, and pick alternatives that are cheaper and easily accessible. This helps you save money.

There’s no clear-cut formula to saving money. Financial experts can suggest different ways where you can cut down on your spending, but ultimately it will be up to you. Every little bit helps. Every extra penny you can set aside for your savings will contribute to a bigger amount as time goes by.

Here are ten practical habits you can start doing to help you save money.

1. Make a budget. A budget gives you a lump sum that you can work with for your daily expenses. Your budget is basically everything that you will spend, minus your savings and payment for utilities. To set a budget, take your gross earnings per month. Subtract what you spend for utilities (round it off to the nearest whole number) and your savings. Divide what’s left for various things: daily expenses, a “fun” fund (to use for outings or splurges). You can even set a daily budget, or how much can you spend in one day. Include things like food and gas.

2. At the end of the day, save your change. This may sound odd, but consider this: the loose change you have on a daily basis may total up to a couple of hundred dollars. Try this out. Set a daily budget for yourself. If, at the end of the day, you have some left over, put that in a jar or a bottle. That means you won’t be carrying over any money from the previous day to today. Do this for a month, and at the end of it, total amount you’ve saved and deposit it to your savings account. You’ll be a few hundred bucks richer, guaranteed.

3. Plan major expenses and safe up for it. Remember how when you were a kid you set aside every penny for something that you wanted? Nowadays, people have no qualms in swiping their credit cards to get the latest gadgets or pay for a trip. Along with the charges and the interest rates, this can cost you hundreds of dollars. By deciding what you want to get and saving up for it, you remove the extra expenses. Plus, you can even shop for discounts or better bargains.

4. Buy quality products. Brand names are often worth the purchase because of its guaranteed quality and durability. However, it doesn’t mean you have to always purchase brand names to get good quality products. Many great quality products cost even less than brand names. Get a product that you know you will continuously use, rather than buying an item on sale and not use it at all. Look at the craftsmanship; check the materials and ingredients used. Always pick quality and comfort over everything else and you’ll find that you’re able to stretch your buck far more than you can when buying cheap products.

5. Consider D.I.Y. Need some repairs done at home? Before you call the handyman, see if it’s something you can fix yourself. There are some things that would be best left to professionals, but little things like doing a small paint job or fixing a leaky faucet are things you can do. It’s easy enough to find the solution these days with the help of the Internet. When you’re confident with your skills, tackle these repairs and save yourself off a couple of dollars.

6. Prepare your own meals. Are you one of those people who do not prepare your own meals, but instead eat out every time? You are spending extra and you're not maximizing the health benefits of the food you are eating. Sure you can go to restaurants that serve healthy meals, but to cut back on your expenses, opt to buy your own organic goods at markets and prepare simple but healthy meals. With the increasing number of organic farmers, the prices for their produce are going down so it’s easier to buy. It’s also easy to search for recipes online or experiment on your own. As a bonus, you can pack the leftovers (well, if there would be any) and bring them for your lunch to work the next day.

7. Use the library. We all love to buy the latest bestseller for a good read, or go out for a movie to relax after a hectic day. Yet with the soaring prices of books and movie tickets, it doesn’t sound practical right? No worries, you can still enjoy these by visiting the library. Books and other reading material aren’t the only things you can be check out of the library. You can borrow DVDs as well. Most library memberships are free, and the rental costs of DVDs are smaller than the ticket price. Granted they may not be the latest releases, but it’s a very viable alternative, especially for a family night get-together.

8. Don’t chuck the luxury, but look for alternatives. As mentioned, living frugally doesn’t mean you have to give up the things you enjoy. Instead, you find alternatives for these things that cost less. For example, are you always getting a designer coffee every day before heading off to work? Try to locate a small, local café where you can get your daily caffeine fix. It costs less, and you’re even contributing to the local economy. The money that you save can be set aside for your savings. Alternatively, you can use it to set up a fund for the real splurges, like maybe a trip out of the country or that gadget you always wanted to buy.

9. Take better care of your things. It’s easy enough to be careless about the things we buy because we know that it’s easy to purchase replacement items or get them repaired. Yet the costs, not to mention the amount of used items, can pile up. Taking better care of your belongings stretches its value.

10. Go green. The call to live green is getting stronger these days. People are more conscious of their choices and how it affects the environment. Manufacturers are finding ways to efficiently make their products eco-friendly by choosing resources that are easily renewable, as well as minimizing packaging. Even appliances are going green, as more and more gadgets are becoming less energy hogs. Changing your lifestyle to leave a smaller carbon footprint also helps.

Building the habit of saving money helps you in the long run. You become a better manager of your finances, and you’ll find that you are able to keep your debt down because you are spending less than what you earn. This allows you set aside enough for bigger purchases, and you become wiser with the choices that you make.

Ally is part of the team that manages Home Loan Finder, a free home equity loan and variable home loans comparison service in Australia. Before joining HLF, she was a Media Planner with McCann Worldgroup Philippines, Inc., with award-winning executions, including the Levi's 501 "Live Unbuttoned" global campaign.

So now you have your basic expenses. If you are like most people, these are the things you budget for:

1. Housing Costs

2. Utilities

3. Insurance

4. Groceries/Dining Out

5. Transportation

6. Medical Payments/Co-pays

7. Fees for Education

8. Loan Payments

9. Credit Card Bills

10. Clothes

11. Personal Care Objects/Necessities

12. Entertainment

One category that, unfortunately, is not on most folks’ lists is a savings account. In these turbulent financial times it is risky to go without any backup plan. If you are not in the habit, you can ease yourself into it gradually. Start with just $5 per month, and then gradually move up to $10 per month. At the rate of $5/month you save $60 each year, obviously tucking $10 away in savings or risk-free cd’s will net you $120 at the end of the year. Now that may not seem like much, but it might be the amount that pulls you out of the hole at some point. Just go without that drink at the gas station or brown bag it rather than stopping at In-n-Out and you’ll be able to do this. Soon you’ll be up to saving $240 and then $500 each year. Those impulse buys, which tend to be unnecessary or, if food, unhealthy, will hardly be missed and you’ll sleep better at night knowing you haven’t spent every cent before it is earned.

You can locate example of budget spreadsheets online – all for no cost. Tailor the headings to reflect your household expenses and put it to work for you. When you budget your money and stick to your plan, your money can work for you just as hard as you work for your money.

It is a true maxim that nothing in life is free. Everything has a price tag of money, time, sweat or effort. When you decide to stick to your budget it will yield peace of mind as well as no necessity for collection agencies to hound you. As you begin to live on less than you make, you may miss your night at the movies, but you’ll notice you can sleep better at night because your credit is not taking over your life. Don’t model your spending after those who spend willy-nilly even when the cash stash is not there. Cut back slowly but consistently and learn to live within your means. Budgets – under (not over) spending – self-control: these are the tips the experts know that start them on their way to fiscal fitness and financial joy.

Margo Smith graduated with a B.S. degree from BYU. She loves to blog about all kinds of subjects from technological advances to online classes to great books for kids. She draws from her own education, her years in college and an author’s perspective on life when researching her posts.

Anyway, he is apparently going to appeal to us “squeezies” by announcing help for first-time buyers, motorists and 25 million income tax payers.   Some may argue that the budget, like the government, has its roots in the playing fields of Eton and is in fact  designed to shift the balance even further towards the wealthy elite who co-incidentally also seem to finance the Conservative party or could potentially profit from some of the measures announced.

OK, so 1 penny a litre is coming off petrol and there will be some inheritance tax breaks provided you give a chunk to "charitee",  but let’s look at raising the income tax personal allowance by £600 so that, as from April 2012, we’ll all be £45 a year better off!  Before you start planning street parties and practice your forelock tugging in gratitude, remember that Osborne's tax increases, particularly on VAT and the impending National Insurance increase, costs the average household more than these tax cuts will ever save!   VAT is much more significant for less well-off households than income tax.  They may not earn as much, but they still have to buy the same amount of stuff as their better off peers.   The poorest 20% of households pay almost 30% of their income in indirect tax, of which VAT is the single biggest chunk.

Next:  the support for first time buyers. These unfortunate youngsters (and not so young) earning  less than £60,000 a year may shortly only be required to scrape together  a 5% deposit and be offered an extra government backed  20% loan at low  interest rates for five years .  In this way, they can meet the credit-crunched requirements of most lenders willing only to finance up to 75% LTV on any property.  While this might restore affordability it will bolster current house prices and many suggest it would be better to allow them to fall to more realistic and affordable levels rather than intervene in this manner.

Aside from saddling first time buyers with even more short term debt, it will do nothing to reduce the UK's dependence on the housing bubble that has produced three booms and busts in the last 40 years.  This measure is nothing more than taxpayer’s money being siphoned off into the pockets of banks and property developers, thinly disguised as help for first time buyers.  Is that a coincidence?  Property tycoons and businessmen do seem to feature quite highly in the donations register of Tory MPs and many of our members of parliament across the board seem to have, in some cases quite substantial, buy-to-let portfolios.

Most people may be familiar with the fact that compensation is available as a result of sustaining a personal injury that was not your fault – and the pain most of the “squeezed middle” will have to endure is most definitely not their fault!    It’s the property spivs and the banks with their Whitehall and Westminster accomplices who are the perpetrators here.  So someone check out which online firm will take a claim on board on a no win no fee basis. It’s entirely possible to find a principled and competent personal injury solicitor online.   The term personal injury can cover a physical or psychological injury, disease or illness resulting in financial loss.   A psychological illness caused by the stress of dealing with the measures unveiled in the budget would, I think make a very compelling case!

The "squeezed middle"  author, Allan Bisset, works with a company that offers personal injury and compensation claims advice.

We often think of conquering debt in terms of the big actions that are required to get it under control. However, it is equally important to take small steps to get yourself out of debt. These small steps will not only help you to reduce your debt but will also help you save money in the future so that you don’t get into debt again.

Here are ten small steps that you can take to start getting out of debt:

1. Reduce your grocery spending by $50 per month. There are many, many tricks to reduce what you spend at the grocery store. These tricks are most effective, however, if you have a specific goal in mind. Track your grocery spending and spend $50 less next month than you do this month. Put that $50 towards your debt.

2. Give up one subscription. Select just one monthly payment that you make and give it up. It could be a magazine subscription, a cable TV subscription or a gym membership. Put that money towards paying down your highest interest rate credit card.

3. Spending more than $50 on an item? Look for a discount code or coupon. Of course it’s great to use coupons for everything but the whole coupon clipping process overwhelms many people. Focus on always looking for a deal on high priced items and you’ll have more money to put towards your debt.

4. Read one book about debt reduction. This will inspire you, encourage you and give you some fresh ideas about reducing your debt.

5. Sell five things that you own. Now is the perfect time for spring cleaning and de-cluttering. Identify five items in your house that you can sell. They can be small things, like books and CDs, or large items like furniture. List them for sale immediately and use that money to pay more down on your debt this month.

6. Pick one credit card to pay off and set a target date. Although it’s ideal to have all of your cards organized and a payment plan for everything, it can feel like a lot of work to people who carry multiple balances. Find the card with the highest interest rate and figure out a reasonable target date for paying off that card. Set your bank account to automatically make the required monthly payment to reach that target date.

7. Make one money-saving investment. For example, invest in a home energy audit to identify how to make your home more energy-efficient (and therefore more cost-efficient). Alternatively, invest in a good tune-up for your car so that it runs more efficiently and wastes less of that expensive gas you buy for it! This investment will be worth it down the line.

8. Give up one expense for one month. What do you waste money on? Do you smoke or go out to dinner frequently or take cabs when you could walk? Identify just one expense and give it up for just one month. See how much you save!

9. Find a money role model in your circle of friends. We all need to have people that we look to because they are smart with money. The easiest way to find a mentor is to find someone that you already know and can talk about money with. Brainstorm a list of your friends and acquaintances and figure out who your money role model is. Ask him or her one question about how they handle debt.

10. Repeat this phrase in the mirror every day : I can be happy saving money. Many people feel like saving money is a chore. It’s not. It can be a fun, creative way to live life. What is truly a chore is living with debt!

This is a guest post by Kathryn Vercillo. She writes about saving money for Discount Coder blog.

Guest post by : - Andrew

Through time, houses normally deteriorate. Renovation may not be an option but a necessity especially because you need to maintain the quality of your life as you live in it. You may also need to renovate if you intend to boost the property’s resale value. However, renovating your home may be costly.

Fortunately, there are now many financing options that are available. Your choice of the right option could depend on several factors. Those include the amount you need, your current home equity, the timeline, amortised payments, and your comfort level for repayment.

Before you get into renovation discussions with contractors, you should first obtain a pre-approval from a lender. This way, you would determine how much you could possibly spend for the project. Give your contractor a budget that is about 10% less than how much you have been approved for so you could still have money to spend for inevitable and additional costs. Here are the financing options to look at.

Home equity loan

In this credit facility, you would borrow an amount, which is secured against the property. The repayments would be amortised over a few years. Monthly payments and interest rates are usually fixed throughout the loan term.

You may opt to make additional payments on top of your conventional first mortgage. The home equity loan may carry a higher rate than a mortgage refinance. On the upside, closing costs could be lower. This is an alternative to refinancing.

Mortgage refinance

If you have an ongoing home loan, a refinance could be one way to get another loan using the same property as collateral. When you refinance a home loan, you could repay the existing mortgage in full (what is left) and use the excess amount to pay for your home renovation.

Mortgage refinance is like extending your current mortgage just so you could get an amount you need for the renovation. You could get a loan with the same or lower interest rate/monthly repayment. The loan term could be lengthened.

Line of credit

A line of credit on your home equity could be an ideal finance option for home renovation. It is good if you intend to finance the project in stages. You may obtain a loan approval for a specified maximum amount. You would withdraw only the amount you need, only when needed. Along the way, if there are additional expenses for the renovation, you could still withdraw some amount until you have fully used the amount allotted to you.

You may fully use up the loan amount or not. The good thing about this product is that you get to pay interest only for the amount you have withdrawn. This option would give you more freedom in managing the loan amount and the renovation expenses.

Personal loans

If the renovation would not cost a lot, you may cover it through a personal loan. Interest rates on personal loans could be lower compared to rates of refinancing but higher compared to home loans. But such loans are still more practical than using credit cards. The loans could be secured or unsecured and are usually obtained much faster. So which financing option is best for your home renovation project?