This article can also be found here.
Once you reach college, it is likely that you will get a credit card for the first time. With so many different expenses, having a credit card is a good thing to have around. Plus, if you use it responsibly, it can help build your credit rating, which will be very beneficial when you are trying to build a car, house, boat, or any other big purchase. However, a credit card can also be a dangerous thing. Many people treat it like a blank check, forgetting that they eventually are going to have to pay it off. That can lead to a lot of frivolous spending with the card, with no idea what to do when the bill comes. This time of attitude can mean that you'll be paying off that credit card for a very long time.
The best credit card advice I can give, whether it's for college students or not, is to only use your credit card if you can pay the charges off in full at the end of the month. Otherwise you will get big interest payments, it will be harder to pay, and well, it's just not a good idea. Credit card interest rates are typically extremely large, and so racking up bills there will lead to a lot of extra expenses. Plus, it can ruin your credit rating if you don't pay. You already will likely have a lot of student loan debt, you don't want to add to that with credit card debt.
Specifically for college students, all your money will tend to be spent already on things like tuition, books, food, and everything else you have to have to get by. So, without any extra spare cash, the temptation for many people is to just go out and charge things with their credit card, figuring that they'll already be in deep debt, so what's the difference? That's not a good plan. The difference between being in student loan debt and credit card debt is that credit cards charge a lot higher interest and can be a lot more unforgiving when you're trying to pay them off. If you can't by that fancy new gadget with cash or a debit card, do not charge it on your credit card. You can probably get by without it, at least until you can save up the money.
So that's my credit card advice for students... don't use it when you don't have to, and pay off whatever you charge at the end of the month. If not, your student loan debt isn't the only debt you'll be paying off after college. Trust me, when it comes time to pay the bills, you will be thanking yourself a lot if a credit card bill is not one that you have to pay off.
Monday, February 1, 2010
How many credit cards is too many?
This article can also be found here.
The question is, how many can you handle?
If you can handle having multiple cards and you pay them all off at the end of each month, then I'm not sure there is a such thing as "too many" credit cards, aside from having to keep a look at your credit rating.
However, for some people, even one credit card is too many. It all depends on your mindset.
If you use the card with the mindset that, "This is free money," then you're going to have problems no matter how many credit cards you have. It is not free money, it is a short term loan that you have to pay back. And like with any loan, the longer it takes for you to pay it back, the more you have to pay in interest and the harder it is to keep track of.
But, if you use the card with the mindset that, "I'll use this for rewards or for ease of use," and then plan on and follow through with playing the balance of each month, you'll be in good shape. You can't abuse the use of the card or you will be in big trouble, but if you respect it and use it wisely, it will not matter how many credit cards you have.
So there is no right or wrong answer to this question, it all depends on the mindset and thinking of each person. If you have the wrong mindset, then even one credit card is too many for you to handle.
The question is, how many can you handle?
If you can handle having multiple cards and you pay them all off at the end of each month, then I'm not sure there is a such thing as "too many" credit cards, aside from having to keep a look at your credit rating.
However, for some people, even one credit card is too many. It all depends on your mindset.
If you use the card with the mindset that, "This is free money," then you're going to have problems no matter how many credit cards you have. It is not free money, it is a short term loan that you have to pay back. And like with any loan, the longer it takes for you to pay it back, the more you have to pay in interest and the harder it is to keep track of.
But, if you use the card with the mindset that, "I'll use this for rewards or for ease of use," and then plan on and follow through with playing the balance of each month, you'll be in good shape. You can't abuse the use of the card or you will be in big trouble, but if you respect it and use it wisely, it will not matter how many credit cards you have.
So there is no right or wrong answer to this question, it all depends on the mindset and thinking of each person. If you have the wrong mindset, then even one credit card is too many for you to handle.
Should credit card companies target college students?
This article can also be found here.
Yes, credit card companies should be targeting college students. Why? Simply put, the demand is there, and the credit card companies are trying to make money. It may not be "right" for credit card companies to target these students when, in some cases, they might now know any better, but as they try to make money, they'd actually prefer it that way.
On the other side of the coin, credit cards can be very beneficial to students. Obviously they can cause you a lot of problems, but that is not a problem exclusive (by any stretch of the imagination) to college students. On the positive side, having credit cards allows students to learn some responsibily, discipline, and build up a credit history. If credit card companies did not target college students, they might not have a chance to build up a credit history, which would be a bad thing in the long run.
Having a good credit history allows you to get things like home or car loans at a better interest rate, because you probably won't be able to pay for these types of things entirely in cash. If you have no credit or bad credit, chances are you'll be paying a lot more than you otherwise would be on interest on long-term loans.
So at first it seems evil that credit card companies would target college students who might not know any better... but delving into it, this can actually be very valuable for college students, who learn important financial lessons as well as build up a credit history, which can be very valuable later in life.
Yes, credit card companies should be targeting college students. Why? Simply put, the demand is there, and the credit card companies are trying to make money. It may not be "right" for credit card companies to target these students when, in some cases, they might now know any better, but as they try to make money, they'd actually prefer it that way.
On the other side of the coin, credit cards can be very beneficial to students. Obviously they can cause you a lot of problems, but that is not a problem exclusive (by any stretch of the imagination) to college students. On the positive side, having credit cards allows students to learn some responsibily, discipline, and build up a credit history. If credit card companies did not target college students, they might not have a chance to build up a credit history, which would be a bad thing in the long run.
Having a good credit history allows you to get things like home or car loans at a better interest rate, because you probably won't be able to pay for these types of things entirely in cash. If you have no credit or bad credit, chances are you'll be paying a lot more than you otherwise would be on interest on long-term loans.
So at first it seems evil that credit card companies would target college students who might not know any better... but delving into it, this can actually be very valuable for college students, who learn important financial lessons as well as build up a credit history, which can be very valuable later in life.
How to ask for a lower rate on your account
This article can also be found here.
Credit card debt is a huge problem in our country, and it can be especially dangerous because of the high interest rest that the companies charge.The interest rate that some credit cards charge can be absolutely ridiculous. They are extremely high, and this can be a big blow to your account. The interest will accumulate so much that sometimes it might seem like every payment isn't really doing anything.
If the interest accumulation is almost as much as your payment per month because of the high interest rate, it will take you much longer than it probably should to pay that off.So it's important to try and get as low of an interest rate as you possibly can. So how can you do that? Sometimes all you have to do to get a lower interest rate is to ask. In the end, a lot of things such as credit card companies are just trying to make money, and if they can retain your business by giving you good customer service and a little better rate now, they might just do that.
This can be an especially effective method for credit cards. One thing you can possibly do is to threaten to stop using the card and take your business elsewhere. Of course you would still have to pay off whatever you owe now, but if the credit card company thinks that you will stop using their card, in all likelihood they will budge a little bit to keep your business.
If you give them an ultimatum of them lowering your interest rate a bit (nothing too outlandish) or you'll change to a new card, chances are they will give you a lower interest rate. They are simply trying to make as much money as they can, and they know that keeping you as a satisfying customer that uses their card frequently is the best way to do that.
Another thing that you can do to get them to lower your rate is to "threaten" them and say that you'll transfer everything to a 0% card. You could use a balance transfer to free up the cash, pay off the card, and then they would be getting none of the interest, so it could be in their best interest to reduce the rate some and have you keep paying. Again, they are simply trying to make the most money that they can, and the best way for them to do that is to have you slowly pay them back, little by little.
So sometimes, all you have to do is ask. Other, a little friendly threat might be in order for you to get what you want. Either way, if you don't ask, you won't be able to get a lower rate. And with the high interest rates that many credit card companies charge, if your way is not as low as you can get it, you could be throwing away money.
Credit card debt is a huge problem in our country, and it can be especially dangerous because of the high interest rest that the companies charge.The interest rate that some credit cards charge can be absolutely ridiculous. They are extremely high, and this can be a big blow to your account. The interest will accumulate so much that sometimes it might seem like every payment isn't really doing anything.
If the interest accumulation is almost as much as your payment per month because of the high interest rate, it will take you much longer than it probably should to pay that off.So it's important to try and get as low of an interest rate as you possibly can. So how can you do that? Sometimes all you have to do to get a lower interest rate is to ask. In the end, a lot of things such as credit card companies are just trying to make money, and if they can retain your business by giving you good customer service and a little better rate now, they might just do that.
This can be an especially effective method for credit cards. One thing you can possibly do is to threaten to stop using the card and take your business elsewhere. Of course you would still have to pay off whatever you owe now, but if the credit card company thinks that you will stop using their card, in all likelihood they will budge a little bit to keep your business.
If you give them an ultimatum of them lowering your interest rate a bit (nothing too outlandish) or you'll change to a new card, chances are they will give you a lower interest rate. They are simply trying to make as much money as they can, and they know that keeping you as a satisfying customer that uses their card frequently is the best way to do that.
Another thing that you can do to get them to lower your rate is to "threaten" them and say that you'll transfer everything to a 0% card. You could use a balance transfer to free up the cash, pay off the card, and then they would be getting none of the interest, so it could be in their best interest to reduce the rate some and have you keep paying. Again, they are simply trying to make the most money that they can, and the best way for them to do that is to have you slowly pay them back, little by little.
So sometimes, all you have to do is ask. Other, a little friendly threat might be in order for you to get what you want. Either way, if you don't ask, you won't be able to get a lower rate. And with the high interest rates that many credit card companies charge, if your way is not as low as you can get it, you could be throwing away money.
How to tell a secure shopping site
This article can also be found here.
Identity theft is becoming more and more prevalent in our society. As it seems to be such a difficult crime to solve, and you can steal a lot of information from the comfort of your own home, many criminals are turning to identity theft. One of the most popular ways to do this is by getting passwords and sensitive information online. If you are not careful about what you are doing online and what sites you are going to, you could wind up going to an insecure site and having your sensitive information stolen, leading to have your identity stolen.
So how can you tell what is and what is not a secure shopping site? There are a few different ways. One way is to check the URL of whatever web site that you're on. That is, check the part that is like http://helium.com. If you are on a secure site, that will be an https. That means that the site is secure and the whatever you type in and submit will be encrypted, which obviously makes it far less likely that someone will be able to steal that information. If you are inputting anything like credit card information or sensitive passwords, you need to check to make sure that it is https, otherwise you are putting yourself very much at risk.
Another thing to look for is the little "lock" icon. This will be in a different place depending on what web browser you're using, but it will usually be in one of the corners. This will also signal that you are using a secure site. So look around for that and if you see the lock icon everything should be secure. Once again, this is a must for you to find if you are inputting any type of sensitive information that you don't want anyone else to know.
There are some other things and indicators to look at to make sure a site is secure... things such as high visibility certain site seals that may be difficult to duplicate, which could mean that the site is not simply set up to steal your information. But the two main things to look for are the https and the lock icon. If you can see those two things, you can be pretty certain that you're on a secure shopping site and all of your information will be encrypted. If not, you could be putting yourself at risk for identity theft. With more and more hackers and identity thieves out there, if you are not very careful, eventually something will happen. Spare yourself that hassle and just spend a little extra to be careful to prevent anything before it happens.
Identity theft is becoming more and more prevalent in our society. As it seems to be such a difficult crime to solve, and you can steal a lot of information from the comfort of your own home, many criminals are turning to identity theft. One of the most popular ways to do this is by getting passwords and sensitive information online. If you are not careful about what you are doing online and what sites you are going to, you could wind up going to an insecure site and having your sensitive information stolen, leading to have your identity stolen.
So how can you tell what is and what is not a secure shopping site? There are a few different ways. One way is to check the URL of whatever web site that you're on. That is, check the part that is like http://helium.com. If you are on a secure site, that will be an https. That means that the site is secure and the whatever you type in and submit will be encrypted, which obviously makes it far less likely that someone will be able to steal that information. If you are inputting anything like credit card information or sensitive passwords, you need to check to make sure that it is https, otherwise you are putting yourself very much at risk.
Another thing to look for is the little "lock" icon. This will be in a different place depending on what web browser you're using, but it will usually be in one of the corners. This will also signal that you are using a secure site. So look around for that and if you see the lock icon everything should be secure. Once again, this is a must for you to find if you are inputting any type of sensitive information that you don't want anyone else to know.
There are some other things and indicators to look at to make sure a site is secure... things such as high visibility certain site seals that may be difficult to duplicate, which could mean that the site is not simply set up to steal your information. But the two main things to look for are the https and the lock icon. If you can see those two things, you can be pretty certain that you're on a secure shopping site and all of your information will be encrypted. If not, you could be putting yourself at risk for identity theft. With more and more hackers and identity thieves out there, if you are not very careful, eventually something will happen. Spare yourself that hassle and just spend a little extra to be careful to prevent anything before it happens.
Microsoft Exel tips: basic formulas
This article can also be found here.
There are hundreds of formulas and functions that you can use with Excel that will be enormously helpful to you. With more advanced things, you can find out things like how much you'll have to pay for a loan, how long it will take to pay it off, etc.
But for now, let's just look at the basics.
First off, all formulas in Excel will start with an = sign. You can also start it with a + sign, though that will eventually lead you to an = sign. So remember to start any formula with that.
After you know that, it's pretty easy for the basic formulas. You basically just type in what you want to do or how you would see it on a piece of paper, and then it finds the answer.
For example, if you want to add 2 + 3, type in: =2+3
If you want to multiply: =2*3
To divide: =2/3
So basic formulas in Excel are really pretty easy to do... all you have to do is type an = sign and then whatever you want figured out. They're easy to do, but they can be very beneficial because you can save a lot of time.
There are hundreds of formulas and functions that you can use with Excel that will be enormously helpful to you. With more advanced things, you can find out things like how much you'll have to pay for a loan, how long it will take to pay it off, etc.
But for now, let's just look at the basics.
First off, all formulas in Excel will start with an = sign. You can also start it with a + sign, though that will eventually lead you to an = sign. So remember to start any formula with that.
After you know that, it's pretty easy for the basic formulas. You basically just type in what you want to do or how you would see it on a piece of paper, and then it finds the answer.
For example, if you want to add 2 + 3, type in: =2+3
If you want to multiply: =2*3
To divide: =2/3
So basic formulas in Excel are really pretty easy to do... all you have to do is type an = sign and then whatever you want figured out. They're easy to do, but they can be very beneficial because you can save a lot of time.
Best ways to save money
This article can also be found here.
For a variety of reasons, many people have a very difficult time of saving money. This leads to all sorts of financial problems, as debt can be a huge strain on life and hamper your ability to be truly happy. Indeed, one of the biggest causes for divorces is money. Worrying about money can cause a lot of stress and unhappiness. As the saying goes, "the best thing about having money is not having to worry about money."
This is why saving money is so important, and having the ability to save money can play a big role in determining your happiness. There are many ways to make it easier to save money. But above all, I've found that one of the best ways to save money is to make things automatic.
What I mean by this is to have a portion of your paycheck automatically taken out and put into a savings account (and part to a 401k!), or even just a set amount taken each month automatically from your bank account and put into a savings account. Why does this work so well? There are a few reasons.
For one thing, after a while, you don't even notice the money is not there. If it's just taken out, it'll just be so normal to you that you won't even consider it like money that you could be getting to spend. It just becomes natural to have it taken out. In my case, I have some money automatically taken out of my checking account and put in an IRA. Since it happens every month without me having to do anything, I barely even notice when it happens. But since it is happening every month, that money continues to grow and grow, adding up over time.
Another reason is that you're just saving little by little. This is another reason you won't notice it... if you're just constantly saving little by little, you won't notice it or miss it. But that's the secret to investing. If you do it right, little by little can add up to a lot over time. Which is why it's so nice.
So that's my best tip for saving money... make it automatic. It'll be accumulating little by little over time, and can get to the part where you don't even notice that the money is taken out. It can be a very effective method of saving, and saving money can lead to a happier, more fulfilling life, because it allows you not to have to worry about, leaving you to take up more fulfilling activities.
For a variety of reasons, many people have a very difficult time of saving money. This leads to all sorts of financial problems, as debt can be a huge strain on life and hamper your ability to be truly happy. Indeed, one of the biggest causes for divorces is money. Worrying about money can cause a lot of stress and unhappiness. As the saying goes, "the best thing about having money is not having to worry about money."
This is why saving money is so important, and having the ability to save money can play a big role in determining your happiness. There are many ways to make it easier to save money. But above all, I've found that one of the best ways to save money is to make things automatic.
What I mean by this is to have a portion of your paycheck automatically taken out and put into a savings account (and part to a 401k!), or even just a set amount taken each month automatically from your bank account and put into a savings account. Why does this work so well? There are a few reasons.
For one thing, after a while, you don't even notice the money is not there. If it's just taken out, it'll just be so normal to you that you won't even consider it like money that you could be getting to spend. It just becomes natural to have it taken out. In my case, I have some money automatically taken out of my checking account and put in an IRA. Since it happens every month without me having to do anything, I barely even notice when it happens. But since it is happening every month, that money continues to grow and grow, adding up over time.
Another reason is that you're just saving little by little. This is another reason you won't notice it... if you're just constantly saving little by little, you won't notice it or miss it. But that's the secret to investing. If you do it right, little by little can add up to a lot over time. Which is why it's so nice.
So that's my best tip for saving money... make it automatic. It'll be accumulating little by little over time, and can get to the part where you don't even notice that the money is taken out. It can be a very effective method of saving, and saving money can lead to a happier, more fulfilling life, because it allows you not to have to worry about, leaving you to take up more fulfilling activities.
How to cut the food bill
This article can also be found here.
The food bill can be a tough one to swallow each week. Food is a necessity, and there are not many ways that you can scrimp on it, because it will have a direct impact on much of your life. However, there are some ways that you can cut the food bill down a bit so that it is more manageable.
One way is to use coupons. Search for them in your local newspaper, online, or maybe even at the store itself. These can be nice little money savers, especially if you find any items that you were going to buy anyway. Sometimes that can be difficult, but it can be worth the effort. It's very easy and can help you cut the food bill. You can also look for discounts among stores, or try to search out which store will have the same product for cheaper than the rest.
Another way is to make a list beforehand - If you make a list with exactly what you need, you should be able to get in, get what you need, and get out. So make a list of everything that you need beforehand, and don't stray from that list. Have tunnel vision, so to speak. You may be tempted to buy something that you think is a good deal, but if you have your list and have decided you don't really need it, then you should avoid it. This is probably the biggest thing that kills a budget for groceries... you see lots of other things that you think are good deals, and you buy them even if you don't need them.
You can also buy some generic items. Generally, generic goods will be about the same quality as brand name goods, but at a much cheaper price. So, unless it's something where the brand name is really important, you are probably safe buying generic, and it will save you a good deal of money. Plus, in some cases, you might even find you like the generic better! That has definitely happened for me.
Lastly, don't go grocery shopping when you're hungry! Anytime I go when I'm hungry practically everything looks really good. Then later, when I'm not so hungry, I look at what I've bought and wonder... why? So don't go grocery shopping when you're hungry... because then everything looks good, and then you're bound to spend a little more money than you may have wanted to.
So these are just a few small tips to follow that can help make things easier when you're buying groceries on a budget. If you do these things, and use a little bit of common sense, it will make grocery shopping a little easier, a little cheaper, and that will be very good for your budget.
The food bill can be a tough one to swallow each week. Food is a necessity, and there are not many ways that you can scrimp on it, because it will have a direct impact on much of your life. However, there are some ways that you can cut the food bill down a bit so that it is more manageable.
One way is to use coupons. Search for them in your local newspaper, online, or maybe even at the store itself. These can be nice little money savers, especially if you find any items that you were going to buy anyway. Sometimes that can be difficult, but it can be worth the effort. It's very easy and can help you cut the food bill. You can also look for discounts among stores, or try to search out which store will have the same product for cheaper than the rest.
Another way is to make a list beforehand - If you make a list with exactly what you need, you should be able to get in, get what you need, and get out. So make a list of everything that you need beforehand, and don't stray from that list. Have tunnel vision, so to speak. You may be tempted to buy something that you think is a good deal, but if you have your list and have decided you don't really need it, then you should avoid it. This is probably the biggest thing that kills a budget for groceries... you see lots of other things that you think are good deals, and you buy them even if you don't need them.
You can also buy some generic items. Generally, generic goods will be about the same quality as brand name goods, but at a much cheaper price. So, unless it's something where the brand name is really important, you are probably safe buying generic, and it will save you a good deal of money. Plus, in some cases, you might even find you like the generic better! That has definitely happened for me.
Lastly, don't go grocery shopping when you're hungry! Anytime I go when I'm hungry practically everything looks really good. Then later, when I'm not so hungry, I look at what I've bought and wonder... why? So don't go grocery shopping when you're hungry... because then everything looks good, and then you're bound to spend a little more money than you may have wanted to.
So these are just a few small tips to follow that can help make things easier when you're buying groceries on a budget. If you do these things, and use a little bit of common sense, it will make grocery shopping a little easier, a little cheaper, and that will be very good for your budget.
Big savings can start with small investments
This article can also be found here.
More than anything else, Americans struggle to save their money. Saving money can be a daunting task. With so many bills to pay, mouths to feed, things to own, how can you find that extra money to sock into savings? It's very difficult, which is why you have to start small. That is the only way to make saving more manageable, and less intimidating.
In essence, saving for retirement is based on this thought, that small savings can lead to big investments. Nobody is going to be able to save a huge lump sun that's enough to enable them to retire. Hopefully, as you go through the years, you are making lots and lots of smaller investments (ideally done automatically, maybe every month), and over time, these small investments can add up to big savings.
So big savings can definitely start with small investments. In fact, that's basically how most large savings start. This is especially true if you have time to let things grow. That is because of compound interest, which can be a magical thing for you and your money. If you let the money grow for a long time, eventually (if you're doing things right) the interest will be earning interest, the returns will be making returns themselves, etc. That is the beauty of compound interest and that is the main reason why small savings can lead to big investments.
There's a saying, "The best time to plant a tree is 20 years ago. The second best time is today." In other words, if you haven't already, start saving now, even if it's just a small investment. Even if you can only save a few dollars a month... anything is better than nothing, and the sooner you get started, the longer the time it will have to grow, and the more likely it will grow to being big savings. But it has to start somewhere.
Also, starting saving a little bit can get you into a habit of saving. Saving a little bit every month may not seem like much, but it can add up to a lot of money, especially if that money is earning interest or growing in the stock market. Once you save a little bit per month, it becomes easier to save a little more, and then a little more money per month. The first step is always the hardest, but it gets a lot easier after that. Once you get started saving, then you can make it a reality that small savings become big investments.
So absolutely big savings can start with small investments, indeed, that's almost the only way they do start. But the important thing is just to actually get started. That's the first step, and everything gets easier after that.
More than anything else, Americans struggle to save their money. Saving money can be a daunting task. With so many bills to pay, mouths to feed, things to own, how can you find that extra money to sock into savings? It's very difficult, which is why you have to start small. That is the only way to make saving more manageable, and less intimidating.
In essence, saving for retirement is based on this thought, that small savings can lead to big investments. Nobody is going to be able to save a huge lump sun that's enough to enable them to retire. Hopefully, as you go through the years, you are making lots and lots of smaller investments (ideally done automatically, maybe every month), and over time, these small investments can add up to big savings.
So big savings can definitely start with small investments. In fact, that's basically how most large savings start. This is especially true if you have time to let things grow. That is because of compound interest, which can be a magical thing for you and your money. If you let the money grow for a long time, eventually (if you're doing things right) the interest will be earning interest, the returns will be making returns themselves, etc. That is the beauty of compound interest and that is the main reason why small savings can lead to big investments.
There's a saying, "The best time to plant a tree is 20 years ago. The second best time is today." In other words, if you haven't already, start saving now, even if it's just a small investment. Even if you can only save a few dollars a month... anything is better than nothing, and the sooner you get started, the longer the time it will have to grow, and the more likely it will grow to being big savings. But it has to start somewhere.
Also, starting saving a little bit can get you into a habit of saving. Saving a little bit every month may not seem like much, but it can add up to a lot of money, especially if that money is earning interest or growing in the stock market. Once you save a little bit per month, it becomes easier to save a little more, and then a little more money per month. The first step is always the hardest, but it gets a lot easier after that. Once you get started saving, then you can make it a reality that small savings become big investments.
So absolutely big savings can start with small investments, indeed, that's almost the only way they do start. But the important thing is just to actually get started. That's the first step, and everything gets easier after that.
How big should my emergency fund be?
This article can also be found here.
When people begin to plan their finances, creating an emergency fund is rarely something that is very high on the list of things that they try to save for. They would rather plan for tangible things, rather than saving in case something does happen. However, creating an emergency fund is a necessity when it comes to financial planning, and it is one of the most important things that you can do to help secure your finances.
Having an emergency fund is one of the most important financial moves you can make, but having an adequate one can be tough. The first thing is, YOU NEED SOMETHING. Even if it's a little, everything helps, and the more you have, the less you will have to borrow if you do have an emergency. That is the key... if something happens, you need to have some money to be able to deal with it, rather than putting it on a credit card, acquiring debt, etc.
You might ask, why is an emergency fund so important? Well, what if you lose your job? Have a car accident? Have to go to the doctor unexpectedly? All of these require you to have some money saved up. If you don't, you'll likely have to charge expenses to a credit card, which will be charging high interest, and you'll begin a slide into debt. Having saved up an emergency fund, you will be better able to handle all of these things in stride, which will do wonders for giving you financial stability.
So how much is enough? There's no easy answer and no correct answer that will work for everyone. Most people would recommend at least 3-6 months worth of living expenses, just to be safe. In all likelihood, that's not feasible for a lot of people, but it is what you should aim for. The more you have, the more prepared you will be to handle any emergency that may come up.
The key is to start up your emergency fund, and just put some towards it on a continual basis. If you put something like $50 per week away for emergencies, within a year you'll have $2600, assuming you haven't earned any interest on it (tip: put it in a high-interest savings account, and you can even earn some on it). That's definitely a great start, and can put you well on your way to financial stability.
So really, put whatever you can away for emergencies, but make sure you're doing it... you'll thank yourself if you lose your job, get in a car accident, and incur some other unexpected expense. Having an emergency fund is one of the most important financial decisions that you can make.
When people begin to plan their finances, creating an emergency fund is rarely something that is very high on the list of things that they try to save for. They would rather plan for tangible things, rather than saving in case something does happen. However, creating an emergency fund is a necessity when it comes to financial planning, and it is one of the most important things that you can do to help secure your finances.
Having an emergency fund is one of the most important financial moves you can make, but having an adequate one can be tough. The first thing is, YOU NEED SOMETHING. Even if it's a little, everything helps, and the more you have, the less you will have to borrow if you do have an emergency. That is the key... if something happens, you need to have some money to be able to deal with it, rather than putting it on a credit card, acquiring debt, etc.
You might ask, why is an emergency fund so important? Well, what if you lose your job? Have a car accident? Have to go to the doctor unexpectedly? All of these require you to have some money saved up. If you don't, you'll likely have to charge expenses to a credit card, which will be charging high interest, and you'll begin a slide into debt. Having saved up an emergency fund, you will be better able to handle all of these things in stride, which will do wonders for giving you financial stability.
So how much is enough? There's no easy answer and no correct answer that will work for everyone. Most people would recommend at least 3-6 months worth of living expenses, just to be safe. In all likelihood, that's not feasible for a lot of people, but it is what you should aim for. The more you have, the more prepared you will be to handle any emergency that may come up.
The key is to start up your emergency fund, and just put some towards it on a continual basis. If you put something like $50 per week away for emergencies, within a year you'll have $2600, assuming you haven't earned any interest on it (tip: put it in a high-interest savings account, and you can even earn some on it). That's definitely a great start, and can put you well on your way to financial stability.
So really, put whatever you can away for emergencies, but make sure you're doing it... you'll thank yourself if you lose your job, get in a car accident, and incur some other unexpected expense. Having an emergency fund is one of the most important financial decisions that you can make.
Tips to lower the power bill
This article can also be found here.
As the heat rises during the summer months, your power bill goes up right along with it! If you don't take some basic cost reducing measures, it can cause your bill to be a lot higher than it should be or needs to be. Fortunately, there are summer easy ways that you can lower your power bill during the summer.
One easy method is to keep your blinds and shades closed, especially during the day if nobody is home. If you have the shades open (or the lights on), the sun will come bearing into the room, which will necessitate the use of the air conditioner. Closing the blinds is a very easy way to keep things a little cooler. Also, you should just look around to make sure that all doors and windows are closed where they should be. Again, leaving these things open will just unnecessarily make it warmer in the house, which could tempt you to use the air conditioning more, which will raise that power bill.
If you have access to it, try to use a clothes line instead of the dryer. A dryer will use up a lot of energy and and will produce a lot of heat, both of which will add to your energy bill. Hanging your clothes on a line will help combat that to keep the power bill down. Try to do as little physical activity indoors as possible. Once again, those types of things will cause your body to generate heat, which will make the house warmer, which will cause you to crank up the air conditioning. In the summer, this is the main enemy when you are talking about your power bill and trying to keep it reasonable.
To that end, try to tough it out and use the air conditioning as little as possible. Try to get a ceiling fan, or any type of fan. It won't work as well as air conditioning (especially as the temperatures outside get really hot), but they will keep you moderately comfortable, and if you are serious about lowering that power bill, that should be OK. If you do turn the air conditioning on, leave it at the same temperature. If you jerk it around a lot, it will not be as effective, it will have to run more, and that will increase the power bill. Keep it steady and you will keep the power bill as low as possible.
During the summer months, as it gets hotter and hotter, the tendency is for the power bill to get higher and higher. However, if you just take these simple measures, you can keep your house cool and lower the power bill instead, which makes for a good situation all around. The main thing is to try and use the air conditioner as little as possible, because that is the thing that will cause the power bill to rise most quickly in the summer.
As the heat rises during the summer months, your power bill goes up right along with it! If you don't take some basic cost reducing measures, it can cause your bill to be a lot higher than it should be or needs to be. Fortunately, there are summer easy ways that you can lower your power bill during the summer.
One easy method is to keep your blinds and shades closed, especially during the day if nobody is home. If you have the shades open (or the lights on), the sun will come bearing into the room, which will necessitate the use of the air conditioner. Closing the blinds is a very easy way to keep things a little cooler. Also, you should just look around to make sure that all doors and windows are closed where they should be. Again, leaving these things open will just unnecessarily make it warmer in the house, which could tempt you to use the air conditioning more, which will raise that power bill.
If you have access to it, try to use a clothes line instead of the dryer. A dryer will use up a lot of energy and and will produce a lot of heat, both of which will add to your energy bill. Hanging your clothes on a line will help combat that to keep the power bill down. Try to do as little physical activity indoors as possible. Once again, those types of things will cause your body to generate heat, which will make the house warmer, which will cause you to crank up the air conditioning. In the summer, this is the main enemy when you are talking about your power bill and trying to keep it reasonable.
To that end, try to tough it out and use the air conditioning as little as possible. Try to get a ceiling fan, or any type of fan. It won't work as well as air conditioning (especially as the temperatures outside get really hot), but they will keep you moderately comfortable, and if you are serious about lowering that power bill, that should be OK. If you do turn the air conditioning on, leave it at the same temperature. If you jerk it around a lot, it will not be as effective, it will have to run more, and that will increase the power bill. Keep it steady and you will keep the power bill as low as possible.
During the summer months, as it gets hotter and hotter, the tendency is for the power bill to get higher and higher. However, if you just take these simple measures, you can keep your house cool and lower the power bill instead, which makes for a good situation all around. The main thing is to try and use the air conditioner as little as possible, because that is the thing that will cause the power bill to rise most quickly in the summer.
Saving money in the summer
This article can also be found here.
Many times during the summer, you have to make some sacrifices. For many people, they may have to choose between keeping cool or saving money. It seems sometimes as if there is no way to adequately achieve both. However, there are some things you can do that will help you both keep cool and save money during the hot summer months.
One easy method is to keep your blinds and shades closed, especially during the day if nobody is home. If you have the shades open (or the lights on), the sun will come bearing into the room, which will necessitate the use of the
air conditioner. Closing the blinds is a very easy way to keep things a little cooler. Also, you should just look around to make sure that all doors and windows are closed where they should be. Again, leaving these things open will just unnecessarily make it warmer in the house, which could tempt you to use the air conditioning more, which will raise that power bill.
If you have access to it, try to use a clothes line instead of the dryer. A dryer will use up a lot of energy and and will produce a lot of heat, both of which will add to your energy bill. Hanging your clothes on a line will help combat that to keep the power bill down. Try to do as little physical activity indoors as possible. Once again, those types of things will cause your body to generate heat, which will make the house warmer, which will cause you to crank up the air conditioning. In the summer, this is the main enemy when you are talking about your power bill and trying to keep it reasonable.
To that end, try to tough it out and use the air conditioning as little as possible. Try to get a ceiling fan, or any type of fan. It won't work as well as air conditioning (especially as the temperatures outside get really hot), but they will keep you moderately comfortable, and if you are serious about lowering that power bill, that should be OK. If you do turn the air conditioning on, leave it at the same temperature. If you jerk it around a lot, it will not be as effective, it will have to run more, and that will increase the power bill. Keep it steady and you will keep the power bill as low as possible.
During the summer months, as it gets hotter and hotter, the tendency is for the power bill to get higher and higher. However, if you just take these simple measures, you can keep your house cool and lower the power bill instead, which makes for a good situation all around. The main thing is to try and use the air conditioner as little as possible, because that is the thing that will cause the power bill to rise most quickly in the summer.
Many times during the summer, you have to make some sacrifices. For many people, they may have to choose between keeping cool or saving money. It seems sometimes as if there is no way to adequately achieve both. However, there are some things you can do that will help you both keep cool and save money during the hot summer months.
One easy method is to keep your blinds and shades closed, especially during the day if nobody is home. If you have the shades open (or the lights on), the sun will come bearing into the room, which will necessitate the use of the
air conditioner. Closing the blinds is a very easy way to keep things a little cooler. Also, you should just look around to make sure that all doors and windows are closed where they should be. Again, leaving these things open will just unnecessarily make it warmer in the house, which could tempt you to use the air conditioning more, which will raise that power bill.
If you have access to it, try to use a clothes line instead of the dryer. A dryer will use up a lot of energy and and will produce a lot of heat, both of which will add to your energy bill. Hanging your clothes on a line will help combat that to keep the power bill down. Try to do as little physical activity indoors as possible. Once again, those types of things will cause your body to generate heat, which will make the house warmer, which will cause you to crank up the air conditioning. In the summer, this is the main enemy when you are talking about your power bill and trying to keep it reasonable.
To that end, try to tough it out and use the air conditioning as little as possible. Try to get a ceiling fan, or any type of fan. It won't work as well as air conditioning (especially as the temperatures outside get really hot), but they will keep you moderately comfortable, and if you are serious about lowering that power bill, that should be OK. If you do turn the air conditioning on, leave it at the same temperature. If you jerk it around a lot, it will not be as effective, it will have to run more, and that will increase the power bill. Keep it steady and you will keep the power bill as low as possible.
During the summer months, as it gets hotter and hotter, the tendency is for the power bill to get higher and higher. However, if you just take these simple measures, you can keep your house cool and lower the power bill instead, which makes for a good situation all around. The main thing is to try and use the air conditioner as little as possible, because that is the thing that will cause the power bill to rise most quickly in the summer.
Tips to cut household expenses
This article can also be found here.
Household expenses have a way of adding up quickly. Between your power bill, to food, to cable, to every other little expense around the house, the expenses can get out of control. You're spending a lot of money, and sometimes you don't even have any idea where it's going. Fortunately, there are a variety of different ways to try and cut down on these expenses.
One way is to create a budget to view all of your expenses and your spending. Oftentimes, people really don't have any idea how they are spending their money, or just how much is going to certain places. By using a budget, you can help to manage and track that. Creating a budget will help you understand where the money is going, and if one area looks out of whack, it will help you be able to change that. But if you don't have a budget created, you might not know that there is something out of the ordinary. Just this simple trick of tracking your expenses will help you cut down on your household expenses.This will also allow you to better allocate whatever money you have remaining. While things such as rent or car payments might be fixed, the other things can be allocated to fit in your budget. That way, you will know exactly how much money you have to spend in certain places.
Another tip is to use the resources you have available to you. One example of this is leftovers. It can be easier to simply eat out, or toss away the leftovers when you are done. But saving leftovers can be a great way to save money. Since the meal is already made, you can cut down the expense of making a new meal or eating out. This can be a key way to cut down on household expenses, and it's really easy because the food is already made!
Another way to cut down on your household expenses is to do very simple things like shutting off lights, turning off the air conditioner, or hanging clothes to dry. In short, going green. All of these things will help reduce your energy and power bill, which is obviously essentially for cutting down on household expenses. Running the dryer, heater, air conditioner, or even the water for longer than it needs to be done are drains on your money, and they can be combated in very simple ways. Also, doing things like biking or walking to places close by will help reduce your gas bills, which helps save money.
So there are many different things that you can do to help cut down on household expenses. Some require you to be a little creative, such as by eating the leftovers or saving on energy, and some are as simple as creating a budget and sticking to it. Whatever you do, you should be able to cut at least a little bit off of your household expenses, which can lead to big savings over the long haul.
Household expenses have a way of adding up quickly. Between your power bill, to food, to cable, to every other little expense around the house, the expenses can get out of control. You're spending a lot of money, and sometimes you don't even have any idea where it's going. Fortunately, there are a variety of different ways to try and cut down on these expenses.
One way is to create a budget to view all of your expenses and your spending. Oftentimes, people really don't have any idea how they are spending their money, or just how much is going to certain places. By using a budget, you can help to manage and track that. Creating a budget will help you understand where the money is going, and if one area looks out of whack, it will help you be able to change that. But if you don't have a budget created, you might not know that there is something out of the ordinary. Just this simple trick of tracking your expenses will help you cut down on your household expenses.This will also allow you to better allocate whatever money you have remaining. While things such as rent or car payments might be fixed, the other things can be allocated to fit in your budget. That way, you will know exactly how much money you have to spend in certain places.
Another tip is to use the resources you have available to you. One example of this is leftovers. It can be easier to simply eat out, or toss away the leftovers when you are done. But saving leftovers can be a great way to save money. Since the meal is already made, you can cut down the expense of making a new meal or eating out. This can be a key way to cut down on household expenses, and it's really easy because the food is already made!
Another way to cut down on your household expenses is to do very simple things like shutting off lights, turning off the air conditioner, or hanging clothes to dry. In short, going green. All of these things will help reduce your energy and power bill, which is obviously essentially for cutting down on household expenses. Running the dryer, heater, air conditioner, or even the water for longer than it needs to be done are drains on your money, and they can be combated in very simple ways. Also, doing things like biking or walking to places close by will help reduce your gas bills, which helps save money.
So there are many different things that you can do to help cut down on household expenses. Some require you to be a little creative, such as by eating the leftovers or saving on energy, and some are as simple as creating a budget and sticking to it. Whatever you do, you should be able to cut at least a little bit off of your household expenses, which can lead to big savings over the long haul.
Consistency is the key to saving effectively
The article can also be found here.
Saving money is a significant problem for many people these days. It seems like more and more people are falling into debt and have no idea how to get out. They are spending more than they earn, and therefore they are not able to save any money on a consistent basis.
In my opinion, consistency is the key to saving effectively. You need to be committed to saving money every month (or every week, etc.) if you want to be able to effectively save. If you don't, it will be very difficult and frustrating to try to save money. Obviously, people would rather spend their money on something fun rather than save it, which is why you need discipline with the consistency.
One way to save money consistently is to make it automatic. If you are able to make a lot of your finances automatic, then you can set it up to easily and consistently save money. If you set it up so that you can transfer a certain amount of money each month into a savings account, then you will have to go out of your way not to save money.
For most people, they don't have anything automatic set up, and so they have to go out of their way to save money, and they usually don't do this. Again, the tendency is for people to spend any extra money they have, and so they won't go that extra mile to save the money if they have a little left over at the end of the month. So the key in this case is to reverse that situation, and make it so that the saving is just another thing that comes out of your checking account each month, so you have to go out of your way to make it not happen.
The key is to treat saving money as another bill that must be paid each month. If you can see the money to be saved as something that must happen each month, then you will be able to budget accordingly, and make the saving more consistent. This way you will always be saving a least a little bit of money each month, and that can add up over the long haul. Little savings is the way to make big investments. As the saying goes, nickels and dimes make quarters.
So I believe that consistency is the key to saving money effectively. Making things automatic can help you save money on a consistent basis, and this will help you be on your way to having a substantial savings account, which can leave you better prepared for any financial situation that might arise.
Saving money is a significant problem for many people these days. It seems like more and more people are falling into debt and have no idea how to get out. They are spending more than they earn, and therefore they are not able to save any money on a consistent basis.
In my opinion, consistency is the key to saving effectively. You need to be committed to saving money every month (or every week, etc.) if you want to be able to effectively save. If you don't, it will be very difficult and frustrating to try to save money. Obviously, people would rather spend their money on something fun rather than save it, which is why you need discipline with the consistency.
One way to save money consistently is to make it automatic. If you are able to make a lot of your finances automatic, then you can set it up to easily and consistently save money. If you set it up so that you can transfer a certain amount of money each month into a savings account, then you will have to go out of your way not to save money.
For most people, they don't have anything automatic set up, and so they have to go out of their way to save money, and they usually don't do this. Again, the tendency is for people to spend any extra money they have, and so they won't go that extra mile to save the money if they have a little left over at the end of the month. So the key in this case is to reverse that situation, and make it so that the saving is just another thing that comes out of your checking account each month, so you have to go out of your way to make it not happen.
The key is to treat saving money as another bill that must be paid each month. If you can see the money to be saved as something that must happen each month, then you will be able to budget accordingly, and make the saving more consistent. This way you will always be saving a least a little bit of money each month, and that can add up over the long haul. Little savings is the way to make big investments. As the saying goes, nickels and dimes make quarters.
So I believe that consistency is the key to saving money effectively. Making things automatic can help you save money on a consistent basis, and this will help you be on your way to having a substantial savings account, which can leave you better prepared for any financial situation that might arise.
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