With all this talk about a possible new recession on the horizon, watching your finances has become even more important. The great thing about learning to watch your spending is that once times get better you will have developed the discipline to ensure you can weather just about any financial storm.
There's nothing more we want than to be able to efficiently manage our money. After all, the money that we want to manage is money that is oftentimes, hard earned. This is where a budget comes in. A budget executed properly, should help you see where your money is going, get more utility out of every buck, and help you save some extra for future use.
The first smart secret to a budget is to set a goal. What do you want to achieve? Do you want to correctly appropriate your income into bills payments? Do you want to put an amount aside for a big purchase or a huge investment? By having a goal, you will be able to shape your budget to best serve your interests.
Secondly, you would want to take note of where your money usually goes. This includes bills, major but regular purchases (like grocery costs, healthcare costs, and the like), and everyday miscellaneous purchases. Only when you list down where you know your money usually goes will you be able to identify which expenses you can do without. Once you've identified these regular expenditures, take into consideration what you can cut back on. How much do you spend on your daily caffeine fix in the morning? How much do you spend on newspaper deliveries to your front door? The measly $2 or $5 of these small purchases cumulatively translates to more than $3600 a year! Instead of buying your expensive latte or reading the newspaper on print, put aside the amount you would usually pay for these small routine purchases in a small container. You will be surprised at how much you're saving out of your older budget.
Being indebted is a vicious cycle on its own. You're talking about continuous payments, not to mention huge interest rates. The best way to deal with this is to pay the minimum on all of your debts in order to avoid paying extraneous late fees. Whatever cash excesses you may have, you can opt to add on to the payments you make in your biggest debt. This way, you are concentrated on getting the biggest debts first that cost you the greatest interest rates. Doing this progressively, you'll be amazed at how much you'll get off your huge debts.
The last and most important step is to jot down the amount you earn the sum you spend. You can make use of computer cash management programs, or make database sheets of your own. Make a system that works for you and will help you keep track of your monthly budgeting progress.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget.
Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.netii.net/products.html
******************************************************************
Showing posts with label smart budgets. Show all posts
Showing posts with label smart budgets. Show all posts
Wednesday, October 5, 2011
Monday, September 19, 2011
ReDecorate a Teenager’s Room Without Breaking The Bank
If you are the parent of a teenager, sooner or later the subject of redecorating what has been a child’s room will come up. Of course any good parent cares about the needs of their children at any age. The teen years are hard enough as the child is going through changes and trying to find their place in the world. One of the ways they show their personality is through their rooms. But what can a parent do when the teen wants to redecorate their room, but the money is tight? Well here are a few tips to keep everyone happy.
A teenager’s room is different from a child’s room in that it should be treated more like an adult space. But, it should have a slightly fun flair to it also. It is best if you involve your teenager in coming up with a theme that will help to express who they are (and not what you want).
Also, when redecorating your teenager’s room, let them choose the colors, but provide them with some guidance. So why not let them have a look on the internet and see what they can find?
When redecorating a teen’s room, remember that they are very sensitive to color, and they are much more free with their sense of adventure. Why not go for using a bolder color on the wall behind the bed, and in this way you have a great focal point. Plus, it will save on you having to decorate the whole room. Also, it means that you can include a color in the room that they really like and want, but which will not overpower the room completely.
Another way to redecorate your teen’s room when on a tight budget is to change the window covering. Instead of curtains, why not get them blinds instead? Because they come in so many different designs, colors and materials, there is likely to be something that they will like.
Why not get hold of a small table and turn this up into a cool make up vanity by painting it to match your teenager daughter’s bedroom décor?
Also you could get some colorful bed linens to bring all the elements of the decorating you have done together. You could even purchase extra sheets, which can be made into curtains and lampshades that will match the rest of the décor.
If you can not afford to replace a worn out carpet in your teen’s bedroom, then opt to have it taken up, and go for low maintenance painted floors with some throw rugs. Also, why not include some large cushions which they can use when their friends come round? It will provide them with a much more relaxing and friendly atmosphere for them and a place where they can get away from it all.
Rather than replacing a perfectly good bed, instead, just get a more adult like headboard for it instead.
Plus, by rearranging your teen’s furniture in their room, you will be able to give it a whole new dramatic look. Many successful teen room makeovers can quickly and easily be accomplished just by changing the layout of a room. Also, by introducing new accessories and lighting to their room, it can help to change the look of a teen’s room dramatically.
If you want to make a teen’s room look a little funkier, then pick up some fringe or beading from a clearance table at the local craft store. You can then glue this around the bottom edge of the lampshade and the hems of curtains to provide a new look. You could even glue it around the edges of shelves.
Why not keep those free CD’s that such people as AOL put in to magazines etc., and turn them over on to the reverse side and glue them to the frame of a mirror or to cover a closet door. Another great way is to glue them in an overlapping fashion and use them as a faux frame for your teen’s posters.
So, as you can see, there are many ways in which a teen’s bedroom can be redecorated and will not end up costing the parents an arm or a leg.
Come back next time for more tips, tricks and techniques to assist you in your marketing and sales efforts as you learn to live the champagne life on a beer budget. Remember we're all in this together and I'm pulling for you.
Mahalo.
********************************************************************
For environmentally smart resources to help you with your Online Business check out
http://www.renspubhouse.netii.net/products.html
Fast easy resources to help you with your marketing, save a tree by not wasting paper, be environmentally correct and have some fun and learn something to boot!
********************************************************************
A teenager’s room is different from a child’s room in that it should be treated more like an adult space. But, it should have a slightly fun flair to it also. It is best if you involve your teenager in coming up with a theme that will help to express who they are (and not what you want).
Also, when redecorating your teenager’s room, let them choose the colors, but provide them with some guidance. So why not let them have a look on the internet and see what they can find?
When redecorating a teen’s room, remember that they are very sensitive to color, and they are much more free with their sense of adventure. Why not go for using a bolder color on the wall behind the bed, and in this way you have a great focal point. Plus, it will save on you having to decorate the whole room. Also, it means that you can include a color in the room that they really like and want, but which will not overpower the room completely.
Another way to redecorate your teen’s room when on a tight budget is to change the window covering. Instead of curtains, why not get them blinds instead? Because they come in so many different designs, colors and materials, there is likely to be something that they will like.
Why not get hold of a small table and turn this up into a cool make up vanity by painting it to match your teenager daughter’s bedroom décor?
Also you could get some colorful bed linens to bring all the elements of the decorating you have done together. You could even purchase extra sheets, which can be made into curtains and lampshades that will match the rest of the décor.
If you can not afford to replace a worn out carpet in your teen’s bedroom, then opt to have it taken up, and go for low maintenance painted floors with some throw rugs. Also, why not include some large cushions which they can use when their friends come round? It will provide them with a much more relaxing and friendly atmosphere for them and a place where they can get away from it all.
Rather than replacing a perfectly good bed, instead, just get a more adult like headboard for it instead.
Plus, by rearranging your teen’s furniture in their room, you will be able to give it a whole new dramatic look. Many successful teen room makeovers can quickly and easily be accomplished just by changing the layout of a room. Also, by introducing new accessories and lighting to their room, it can help to change the look of a teen’s room dramatically.
If you want to make a teen’s room look a little funkier, then pick up some fringe or beading from a clearance table at the local craft store. You can then glue this around the bottom edge of the lampshade and the hems of curtains to provide a new look. You could even glue it around the edges of shelves.
Why not keep those free CD’s that such people as AOL put in to magazines etc., and turn them over on to the reverse side and glue them to the frame of a mirror or to cover a closet door. Another great way is to glue them in an overlapping fashion and use them as a faux frame for your teen’s posters.
So, as you can see, there are many ways in which a teen’s bedroom can be redecorated and will not end up costing the parents an arm or a leg.
Come back next time for more tips, tricks and techniques to assist you in your marketing and sales efforts as you learn to live the champagne life on a beer budget. Remember we're all in this together and I'm pulling for you.
Mahalo.
********************************************************************
For environmentally smart resources to help you with your Online Business check out
http://www.renspubhouse.netii.net/products.html
Fast easy resources to help you with your marketing, save a tree by not wasting paper, be environmentally correct and have some fun and learn something to boot!
********************************************************************
Tuesday, September 6, 2011
Living Well Through Better Budgeting
In these down economic times, when jobs are uncertain, businesses unstable and credit is all but impossible to obtain, one has to really be careful and watch their pennies. When one is unsure of the financial future, one needs to be aware of where their money is going. For that one needs to sit down and work out a budget.
A budget is basically a money plan, outlining your financial goals. Having a budget, you can well establish and regulate funds, set and achieve your financial objectives, and make advance decisions as to how you want your finances to function well for you.
The main idea in budgeting is for you to put aside a certain amount of money for expected as well as unexpected costs.
Simply put, budgeting means an estimation of monthly home expenses basing it on previous expenses and bills.
The initial step to take in budgeting is to find out how long will your compensation last. Define fixed expenses like car payments, home rental, insurance, etc. Likewise follow up your expenditures thoroughly for a month so you can discover and understand where your funds are going. Through proper determination of your spending patterns, you can immediately identify solutions for effective budgeting.
For instance, when you have a steady monthly income of $4,000, you should subtract all your identified monthly bills from that income.
Other bills can be assessed and then subtracted from the amount of your income. The balance that remained after fixed costs can now be your budget in the household. Rather than allocating money for miscellaneous like gas, clothing, entertainment and groceries, financial planning will allow you instead to use proportions or percentages of it.
The strategic solution in order for budgeting to be successful is inflexibility as well as flexibility; there are fixed expenses so payment must be an inflexible factor.
Budgeting will best work when very scarce omissions are made to greater limits. The idea here is to formulate goals and plans, then abide by it as much as you possibly can.
Here are tips on how to budget:
1. Have good sense of money management. Your attitude is essential. Reach an agreement and compromise and know the significance of reducing expenditures; it all involves a lot of sacrifice.
2. Plan your situation. Make a listing with your earnings to one side and your overheads on the other side.
3. Know the difference between luxuries and necessities. List down what you believe as luxuries, with it, split the list in half, crossing out half the list.
4. Practice frugality but with dignity. You can have fun with little or without spending at all. Rather than going shopping, play with the kids at the beach or at the park.
Budgeting is an effective and fundamental tool that is readily available to everyone. Consider it, and benefit from it.
One can still live very well without spending a lot of money if you are smart about it.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget.
Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.netii.net/products.html
******************************************************************
A budget is basically a money plan, outlining your financial goals. Having a budget, you can well establish and regulate funds, set and achieve your financial objectives, and make advance decisions as to how you want your finances to function well for you.
The main idea in budgeting is for you to put aside a certain amount of money for expected as well as unexpected costs.
Simply put, budgeting means an estimation of monthly home expenses basing it on previous expenses and bills.
The initial step to take in budgeting is to find out how long will your compensation last. Define fixed expenses like car payments, home rental, insurance, etc. Likewise follow up your expenditures thoroughly for a month so you can discover and understand where your funds are going. Through proper determination of your spending patterns, you can immediately identify solutions for effective budgeting.
For instance, when you have a steady monthly income of $4,000, you should subtract all your identified monthly bills from that income.
Other bills can be assessed and then subtracted from the amount of your income. The balance that remained after fixed costs can now be your budget in the household. Rather than allocating money for miscellaneous like gas, clothing, entertainment and groceries, financial planning will allow you instead to use proportions or percentages of it.
The strategic solution in order for budgeting to be successful is inflexibility as well as flexibility; there are fixed expenses so payment must be an inflexible factor.
Budgeting will best work when very scarce omissions are made to greater limits. The idea here is to formulate goals and plans, then abide by it as much as you possibly can.
Here are tips on how to budget:
1. Have good sense of money management. Your attitude is essential. Reach an agreement and compromise and know the significance of reducing expenditures; it all involves a lot of sacrifice.
2. Plan your situation. Make a listing with your earnings to one side and your overheads on the other side.
3. Know the difference between luxuries and necessities. List down what you believe as luxuries, with it, split the list in half, crossing out half the list.
4. Practice frugality but with dignity. You can have fun with little or without spending at all. Rather than going shopping, play with the kids at the beach or at the park.
Budgeting is an effective and fundamental tool that is readily available to everyone. Consider it, and benefit from it.
One can still live very well without spending a lot of money if you are smart about it.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget.
Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.netii.net/products.html
******************************************************************
Tuesday, July 12, 2011
Vacationing With The Family Without Breaking The Bank.
Ah yes the vacation season is upon us and people are taking the family out to broaden their minds and horizons. It was always an interesting time back when I was younger and we would pack up the family every summer and either head to the mountains or visit the maternal grandparents in Florida (depending upon who chose the vacation that year). Traveling can be fun for the whole family, but alas can also be very expensive. Here are a few ideas you can use to have fun and not over spend while doing so.
Traveling as a family can really add to the costs. Children are often charged a lot more than seems fair and the overall price of a family holiday can soon get out of hand by the time you factor in all of the food and activities.
Family Camps
An increasingly popular choice for families is the family camp. Accommodation varies with everything from a basic tent to well equipped log cabins with all of the modern facilities that you would expect in a large hotel.
YMCA offer a range of camps such as the Snow Mountain Ranch in Colorado that spans 5,100 acres and can host 2,500 people in cabins. Activities are available for children aged 3 and over including skiing, climbing and riding. Adults can enjoy use of the gym and health center or simply enjoy a bit of quiet time while the children are being tired out!
Money Saving Booking Tips
When you are booking with children it is really important to get to know what deals are available. Some companies offer children’s prices right up to 16 years old, others start to charge full price at age 3. Depending on the age of your children, one company may prove substantially cheaper for the same holiday.
Consider your sleeping arrangements carefully. Some hotels will offer adjoining rooms, others will have family rooms that sleep children as well as adults. Most hotels will not allow young children in their own room, so bear this in mind when booking.
If you have more than two children you may find that an apartment offers better value for money and more usable space. A two or three bedroom cottage will often be a lot cheaper than two or three rooms in a hotel.
Use the children as a means of negotiation. For example, ask for a discount on their air fare or accommodation or ask for free entrance to an activity while you are booking.
Keeping a Lid on Spending Money
Traveling with children can be expensive when you add up the costs of activities, food and children’s clubs if they are available. If you are working to a budget then it may well be worth considering an all-inclusive holiday resort. Although these are normally more expensive to book initially, it is easier to anticipate your spending in advance. As meals and drinks are included you will not have to worry about the constant demands from the children for soda!
Find out how much children’s clubs will cost and when they are available, prices can vary substantially, so do your homework if you are not to get stung with a large bill at the end of the holiday.
It may even be worth traveling with another family with children of a similar age, as the adults can then take it in turns to child mind, meaning that everyone gets a break and the children have friends to play with! Also the bigger the group the bigger the discounts, normally, so even if you do not want to spend the whole time with another family, you can still benefit from booking together.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget.
Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.cz.cc/products.html
******************************************************************
Traveling as a family can really add to the costs. Children are often charged a lot more than seems fair and the overall price of a family holiday can soon get out of hand by the time you factor in all of the food and activities.
Family Camps
An increasingly popular choice for families is the family camp. Accommodation varies with everything from a basic tent to well equipped log cabins with all of the modern facilities that you would expect in a large hotel.
YMCA offer a range of camps such as the Snow Mountain Ranch in Colorado that spans 5,100 acres and can host 2,500 people in cabins. Activities are available for children aged 3 and over including skiing, climbing and riding. Adults can enjoy use of the gym and health center or simply enjoy a bit of quiet time while the children are being tired out!
Money Saving Booking Tips
When you are booking with children it is really important to get to know what deals are available. Some companies offer children’s prices right up to 16 years old, others start to charge full price at age 3. Depending on the age of your children, one company may prove substantially cheaper for the same holiday.
Consider your sleeping arrangements carefully. Some hotels will offer adjoining rooms, others will have family rooms that sleep children as well as adults. Most hotels will not allow young children in their own room, so bear this in mind when booking.
If you have more than two children you may find that an apartment offers better value for money and more usable space. A two or three bedroom cottage will often be a lot cheaper than two or three rooms in a hotel.
Use the children as a means of negotiation. For example, ask for a discount on their air fare or accommodation or ask for free entrance to an activity while you are booking.
Keeping a Lid on Spending Money
Traveling with children can be expensive when you add up the costs of activities, food and children’s clubs if they are available. If you are working to a budget then it may well be worth considering an all-inclusive holiday resort. Although these are normally more expensive to book initially, it is easier to anticipate your spending in advance. As meals and drinks are included you will not have to worry about the constant demands from the children for soda!
Find out how much children’s clubs will cost and when they are available, prices can vary substantially, so do your homework if you are not to get stung with a large bill at the end of the holiday.
It may even be worth traveling with another family with children of a similar age, as the adults can then take it in turns to child mind, meaning that everyone gets a break and the children have friends to play with! Also the bigger the group the bigger the discounts, normally, so even if you do not want to spend the whole time with another family, you can still benefit from booking together.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget.
Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.cz.cc/products.html
******************************************************************
Thursday, January 27, 2011
Saving Money: It's Your Future, Live It Your Way
Are you tired of stressing out over never having money when you really need it? Well that is what saving is for. If you want to live comfortably in the future you really need to start by doing something about it now.
Saving has always been a way of life for people who believed on its power. These people know that they have to save more money in order to create a more established future.
However, as time goes by, more and more people find it hard to save money. They contend that saving is no longer a way of life but a resolution that they have to strictly adhere to just to salt away some amount of money.
Some people even insist that it is no longer possible for a person to save more money because most of them are already living paycheck to paycheck. With all the high-prices of commodities these days, saving more money is no longer workable.
But the point is that people can indeed save more.
How? Here is a list of some modern ways that will let you save more money:
1. Save some percentage from your salary
Most money-savers automatically take at least 30% from their salary and save them into their savings account. The basic concept here is that most of us spend whatever amount we have on our paycheck, and maybe even more. If you are able to limit that amount, your expenses will unexplainably get smaller.
2. Pay everything in cash
Credit cards had always been a way of life for most consumers. The problem is that they become so comfortable with it that they tend to spend everything on credit. In fact, statistics show that the average family has an average outstanding balance on their credit cards amounting to $7,000. And they even pay almost $1,000 in each year just on the interest charges alone.
Hence, because of this comfortable shopping, they forget to keep track of their expenses and accumulate more payables than what they can afford to pay.
3. Set goals
Create goals that you really want and not be fickle-minded about it. If there's a certain amount involved, be specific with the amount, like saying “I will save $5,000 in a year and not around $5,000.”
Try to set your goals based on your priorities. Have a period for every goal.
4. Check your company's retirement plan
With your employer plan such as the 401(k) or the 403(b), you can definitely save more money for the future. Here, your company will deduct a percentage of your salary from each paycheck and invest the amount in your choice of instruments—mainly mutual funds.
The bottom line is that saving is not just a way of life or a resolution. It's the ultimate gratification that you get as a fruit of your labor.
It is never too late to start, so start today and stop your worry about tomorrow.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget. Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.netii.net/finance.html
******************************************************************
Saving has always been a way of life for people who believed on its power. These people know that they have to save more money in order to create a more established future.
However, as time goes by, more and more people find it hard to save money. They contend that saving is no longer a way of life but a resolution that they have to strictly adhere to just to salt away some amount of money.
Some people even insist that it is no longer possible for a person to save more money because most of them are already living paycheck to paycheck. With all the high-prices of commodities these days, saving more money is no longer workable.
But the point is that people can indeed save more.
How? Here is a list of some modern ways that will let you save more money:
1. Save some percentage from your salary
Most money-savers automatically take at least 30% from their salary and save them into their savings account. The basic concept here is that most of us spend whatever amount we have on our paycheck, and maybe even more. If you are able to limit that amount, your expenses will unexplainably get smaller.
2. Pay everything in cash
Credit cards had always been a way of life for most consumers. The problem is that they become so comfortable with it that they tend to spend everything on credit. In fact, statistics show that the average family has an average outstanding balance on their credit cards amounting to $7,000. And they even pay almost $1,000 in each year just on the interest charges alone.
Hence, because of this comfortable shopping, they forget to keep track of their expenses and accumulate more payables than what they can afford to pay.
3. Set goals
Create goals that you really want and not be fickle-minded about it. If there's a certain amount involved, be specific with the amount, like saying “I will save $5,000 in a year and not around $5,000.”
Try to set your goals based on your priorities. Have a period for every goal.
4. Check your company's retirement plan
With your employer plan such as the 401(k) or the 403(b), you can definitely save more money for the future. Here, your company will deduct a percentage of your salary from each paycheck and invest the amount in your choice of instruments—mainly mutual funds.
The bottom line is that saving is not just a way of life or a resolution. It's the ultimate gratification that you get as a fruit of your labor.
It is never too late to start, so start today and stop your worry about tomorrow.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget. Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.netii.net/finance.html
******************************************************************
Thursday, September 30, 2010
How To Reduce Your Credit Card Debt
Here we are heading towards the holiday season and people are starting to plan out their shopping a bit early this year due to the economic conditions. But before one starts building up more credit card debts, one should look to where they are and if they need to , reduce any credit card debt they already have.
Reduce credit card debt and eliminate it before it assumes a horrifying shape. This is really the gist of the story. So, how do you reduce credit card debt? Well, you reduce credit card debt by preventing it from increasing and by paying off what it is currently. Simple, isn't it?
Not really. If it was that simple to reduce credit card debt, then we wouldn't have had so many people with credit card debt related problems. We would have been able to reduce credit card debt problems and finally eliminate them (or reduce them significantly). There are all kinds of advice available on how to reduce credit card debt, but still nothing much seems to change. The problem still seems to persist and in fact, worsen. However, it's not that difficult to reduce credit card debt. As we just said, there is a lot of advice available on how to reduce credit card debt and the only thing you need to do is put that advice, on how to reduce credit card debt, to practice in real life. Well, no one but you will benefit if you reduce credit card debt.
So the first step to reduce credit card debt is to prevent it from taking dangerous proportions. The 2 most important ways of implementing this step are; balance transfers and use of cash.
Balance transfer is often treated as the number one measure to reduce credit card debt. This is really something that can help reduce credit card debt by slowing down the pace at which your credit card debt is getting built. It also provides you relief in terms of the APR being 0% for initial 6-9 months (and hence helps reduce credit card debt faster). To reduce credit card debt using this mechanism, you need to transfer your balance from your current credit card(s) onto another credit card that has a lower APR than your current card. Thus you reduce credit card debt by preventing it from increasing so rapidly.
The other preventive measure to reduce credit card debt is to use cash instead of card (as such, hard earned cash is difficult to get out of pocket as compared to just a credit card). So you reduce credit card debt by not adding more to it. That is the simplest way to reduce credit card debt.
However, you can reduce credit card debt only if you stick to your resolution to reduce credit card debt; otherwise it will fail miserably.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget. Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.netii.net/finance.html
******************************************************************
Reduce credit card debt and eliminate it before it assumes a horrifying shape. This is really the gist of the story. So, how do you reduce credit card debt? Well, you reduce credit card debt by preventing it from increasing and by paying off what it is currently. Simple, isn't it?
Not really. If it was that simple to reduce credit card debt, then we wouldn't have had so many people with credit card debt related problems. We would have been able to reduce credit card debt problems and finally eliminate them (or reduce them significantly). There are all kinds of advice available on how to reduce credit card debt, but still nothing much seems to change. The problem still seems to persist and in fact, worsen. However, it's not that difficult to reduce credit card debt. As we just said, there is a lot of advice available on how to reduce credit card debt and the only thing you need to do is put that advice, on how to reduce credit card debt, to practice in real life. Well, no one but you will benefit if you reduce credit card debt.
So the first step to reduce credit card debt is to prevent it from taking dangerous proportions. The 2 most important ways of implementing this step are; balance transfers and use of cash.
Balance transfer is often treated as the number one measure to reduce credit card debt. This is really something that can help reduce credit card debt by slowing down the pace at which your credit card debt is getting built. It also provides you relief in terms of the APR being 0% for initial 6-9 months (and hence helps reduce credit card debt faster). To reduce credit card debt using this mechanism, you need to transfer your balance from your current credit card(s) onto another credit card that has a lower APR than your current card. Thus you reduce credit card debt by preventing it from increasing so rapidly.
The other preventive measure to reduce credit card debt is to use cash instead of card (as such, hard earned cash is difficult to get out of pocket as compared to just a credit card). So you reduce credit card debt by not adding more to it. That is the simplest way to reduce credit card debt.
However, you can reduce credit card debt only if you stick to your resolution to reduce credit card debt; otherwise it will fail miserably.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget. Remember we're all in this together and I'm pulling for you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.netii.net/finance.html
******************************************************************
Monday, June 1, 2009
Saving - It's Your Money, Keep It.
We seem to have turned the corner (If the government can be trusted) in this latest economic downturn. But just because things are getting better, don't fool yourself that it will never happen again. In order to be ready you need to prepare yourself through savings and investment.
The value of money cannot be underestimated. In a recent national survey, more than 96% Americans agreed that early monetary savings would help one achieve a fruitful and stable life.
Saving is a way of insulating oneself from the many symptoms of health and natural adversity. While an average youth of yesteryears thinks more about short-term financial goals such as purchasing a new pair of signature shoes, owning a new jet ski or a brand new car, statistics show that more and more are starting to realize the importance of keeping a personal savings.
Long terms goals are described as goals that have a lasting effect should a person’s present actions be religiously maintained.
The following statements are outlined to provide information and tips on how you can start up your money-saving gimmicks and ensure a happy and financially stable future and list the reasons as to why saving money should occupy a greater place in our list of priorities in life.
Reasons for Saving:
Saving for your Future and Present Needs – Saving today will provide you with flexible financial resources in the future. Keeping at least 20% of your monthly earnings while using the other for your household, personal and unexpected expenses will surely play a big part in your pursuit for a stable future.
Saving for an Investment Need – Savings can also be a source of your future capital for engaging in business enterprises. It will provide you more opportunity for venturing on your unexplored talents and earn you a huge potential in increasing your money exponentially.
Saving for your Retirement – More than 23% of today’s elderly were shown to have failed in one instance in their lives, to save and strategically used their money for preparing their way to retirement. As a result, these folks extend their entire retirement career working on an equally satisfying job that pays them enough to cover their basic expenses.
Keys to Fulfilling your Saving Goals:
No matter how good our intentions and objectives for saving are, we should also take note that goals can fall and touched the following baselines or characteristics.
Attainability – Goals should be something attainable and one which can be achieved without you doing something extraordinary or illegal. A little amount of patience and hard work are key.
Consistency – Changing your goals from time to time due to incidents that may arise in the near future are sure ways to deterring your intention to save.
While we need to focus on the present incidents, we also need to take hold of our original intention and continue until you have gained enough leads to get it.
Yes making a budget and paying yourself first is very important. Come back next week for more tips, tricks and techniques about living the champagne life on a beer budget.
Mahalo.
======================================================
It's your right to get assistance from Your Government!
Yes the government gives away billions of dollars each year to assist people like you and me for just about anything. Starting a business? Yes there is money for you. Need help with your house or health?
Yes money is available. Who is on your side? Who can guide you?
"The Inquisitive Explorer's Guide To Free Government Money Programs", That's who.
Get your share and let Uncle Sam help you. Check it out at:
http://www.renspubhouse.netii.net/marketing/govmoney.html
================================================================
The value of money cannot be underestimated. In a recent national survey, more than 96% Americans agreed that early monetary savings would help one achieve a fruitful and stable life.
Saving is a way of insulating oneself from the many symptoms of health and natural adversity. While an average youth of yesteryears thinks more about short-term financial goals such as purchasing a new pair of signature shoes, owning a new jet ski or a brand new car, statistics show that more and more are starting to realize the importance of keeping a personal savings.
Long terms goals are described as goals that have a lasting effect should a person’s present actions be religiously maintained.
The following statements are outlined to provide information and tips on how you can start up your money-saving gimmicks and ensure a happy and financially stable future and list the reasons as to why saving money should occupy a greater place in our list of priorities in life.
Reasons for Saving:
Saving for your Future and Present Needs – Saving today will provide you with flexible financial resources in the future. Keeping at least 20% of your monthly earnings while using the other for your household, personal and unexpected expenses will surely play a big part in your pursuit for a stable future.
Saving for an Investment Need – Savings can also be a source of your future capital for engaging in business enterprises. It will provide you more opportunity for venturing on your unexplored talents and earn you a huge potential in increasing your money exponentially.
Saving for your Retirement – More than 23% of today’s elderly were shown to have failed in one instance in their lives, to save and strategically used their money for preparing their way to retirement. As a result, these folks extend their entire retirement career working on an equally satisfying job that pays them enough to cover their basic expenses.
Keys to Fulfilling your Saving Goals:
No matter how good our intentions and objectives for saving are, we should also take note that goals can fall and touched the following baselines or characteristics.
Attainability – Goals should be something attainable and one which can be achieved without you doing something extraordinary or illegal. A little amount of patience and hard work are key.
Consistency – Changing your goals from time to time due to incidents that may arise in the near future are sure ways to deterring your intention to save.
While we need to focus on the present incidents, we also need to take hold of our original intention and continue until you have gained enough leads to get it.
Yes making a budget and paying yourself first is very important. Come back next week for more tips, tricks and techniques about living the champagne life on a beer budget.
Mahalo.
======================================================
It's your right to get assistance from Your Government!
Yes the government gives away billions of dollars each year to assist people like you and me for just about anything. Starting a business? Yes there is money for you. Need help with your house or health?
Yes money is available. Who is on your side? Who can guide you?
"The Inquisitive Explorer's Guide To Free Government Money Programs", That's who.
Get your share and let Uncle Sam help you. Check it out at:
http://www.renspubhouse.netii.net/marketing/govmoney.html
================================================================
Tuesday, April 14, 2009
Setting Priorities in a Family Budget
When economic downturns arise those who were smart enough to focus and set priorities in their family budgets had an easier time than those who didn't. Good times will return, and when they do, make sure you are one of the smart ones. Develop a family budget so that next downturn you will be ready and be able to weather the storm easier.
Often times, the family budget is a source of conflict. Most of the time, the major earner makes the final financial decision, which isn’t always a welcome deal for the rest. Since money is such an intrinsic part of family life, families need to achieve accord in this aspect. There is a four-step cycle in budgeting the family money to maintain peace and harmony.
1. Set your priorities.
Priorities are different from goals. They are aspects in your family’s life that you, as a family, want to set focus on, say health or children’s future. While goals are specific targets that support priorities.
In setting priorities, do not set too many as it defeats the purpose. Ideally, there should only be one, but because life is not ideal, 2 to 3 are reasonable.
As the priorities are set and agreed upon, write them down. Post the paper where everybody can see them to remind them of what your family is focused on for the next few years.
2. List down your goals.
Once the family has set and agreed on priorities, the next step is to set the goals. Goals are specific and measurable conditions that, when achieved, will support the priorities.
In setting goals, establish a target that is both challenging yet achievable. A 10-15% of the family’s income is a good savings target for a child’s future education: stretching yet reachable.
Try to limit your family into setting 1-2 goals per priority, to maintain focus.
3. Work towards your goals.
After setting your priorities and goals, start living by them. All of the family’s activities will be geared towards working at your goals. Track progress, particularly on financial goals, by using an income and expense-tracking tool. The simplest way is to get a notebook and list down all expenses and incomes and set a budget for future spending. There are those that invest in computer software or a family accountant. Whatever it is, the important thing is to have a system of monitoring the family’s performance towards achieving their goals.
4. Evaluate your family life.
At a certain point in time, when you feel like it’s time to evaluate your life, check how your family is doing against the goals. Goals that have been achieved can be checked off the list, and new ones can be formulated.
At times, in major changes, say a career move, or when a family member goes away, it may be time to re-evaluate priorities. When such a time comes, then the cycle begins, just like what it’s for: life!
Do you need more tips, help and direction in setting up and developing a budget? See below for a couple of handy tools. Come back next week for more tips, tricks and techniques to show you how to live the champagne life on a beer budget.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money?
Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection.
Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.com/finance.html
******************************************************************
Often times, the family budget is a source of conflict. Most of the time, the major earner makes the final financial decision, which isn’t always a welcome deal for the rest. Since money is such an intrinsic part of family life, families need to achieve accord in this aspect. There is a four-step cycle in budgeting the family money to maintain peace and harmony.
1. Set your priorities.
Priorities are different from goals. They are aspects in your family’s life that you, as a family, want to set focus on, say health or children’s future. While goals are specific targets that support priorities.
In setting priorities, do not set too many as it defeats the purpose. Ideally, there should only be one, but because life is not ideal, 2 to 3 are reasonable.
As the priorities are set and agreed upon, write them down. Post the paper where everybody can see them to remind them of what your family is focused on for the next few years.
2. List down your goals.
Once the family has set and agreed on priorities, the next step is to set the goals. Goals are specific and measurable conditions that, when achieved, will support the priorities.
In setting goals, establish a target that is both challenging yet achievable. A 10-15% of the family’s income is a good savings target for a child’s future education: stretching yet reachable.
Try to limit your family into setting 1-2 goals per priority, to maintain focus.
3. Work towards your goals.
After setting your priorities and goals, start living by them. All of the family’s activities will be geared towards working at your goals. Track progress, particularly on financial goals, by using an income and expense-tracking tool. The simplest way is to get a notebook and list down all expenses and incomes and set a budget for future spending. There are those that invest in computer software or a family accountant. Whatever it is, the important thing is to have a system of monitoring the family’s performance towards achieving their goals.
4. Evaluate your family life.
At a certain point in time, when you feel like it’s time to evaluate your life, check how your family is doing against the goals. Goals that have been achieved can be checked off the list, and new ones can be formulated.
At times, in major changes, say a career move, or when a family member goes away, it may be time to re-evaluate priorities. When such a time comes, then the cycle begins, just like what it’s for: life!
Do you need more tips, help and direction in setting up and developing a budget? See below for a couple of handy tools. Come back next week for more tips, tricks and techniques to show you how to live the champagne life on a beer budget.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money?
Well Order the Budget Mega Pack and receive two valuable bonus ebooks for your collection.
Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
http://www.renspubhouse.com/finance.html
******************************************************************
Monday, November 24, 2008
Happiness in The Frugal Lifestyle
The word “frugality” has left a more negative connotation for most people than simply being a saver, a cheapskate or tightwad. There is a thin line difference to saving and too much frugality to the point of being awkward and ridiculous. This is where the negative connotation comes from.
But if you are guided with the right principles and reasons in deciding to live a frugal life, you would never go wrong. If you have decided to live frugally, no need to be worried of insults. Keep your head up high. And keep your focus through these tips.
1. Eating Out - Having gimmicks with friends on a Friday night is fine if you do it once in a while. But this can be expensive if you add them up at the end of the month.
2. Clothing - Naturally, if you are the kind of person who adores signature and designer clothes, do not expect that there will be something left of your take home pay. Instead of being trendy, wear clothes that can easily be matched with your other clothes.
3. Own Home - If you are planning to move out and find a place to settle, do not be overwhelmed by the excitement, instead be practical. As a start, buy a smaller house or try other ways like rent-to-own, do-it-yourself arrangements, and owner financing.
4. Buying Your Own Car - Shy away from sports cars or SUVs. Just stick to your purpose of buying a car which is to transport you anywhere you need to go. Check out also program cars like a new car warranty. Maybe this is not just the best time to replace your car with a new one.
5. Shopping for Groceries - As much as possible do not go with items that are branded. Choose non-brands and try looking for items on the highest or lowest shelves for best prices. Grab the opportunity and shop during sales or use coupons.
6. Family Out - There are inexpensive ways to bond with your family and be entertained like going to libraries, local parks, malling, picnics, visit friends and local church.
7. Buying School Supplies - Stock school supplies at home and do not buy anything fancy.
8. Be contented with what you have and try to live within what you earn.
9. Plan your Child’s College Education - Teach them the ways to be independent and self-supporting by encouraging them to apply for scholarships and “on campus jobs”.
10. Be Aware of your Financial Limitations
11. Anticipate your Failures by Planning - Have always a budget plan so you would avoid impulsive buying.
Being frugal in the long run gives one the resources to get through tough times, and in better times enjoy special moments and not worry about finances. Remember I'm on your side as we are all in this together. Come back again next week for another great tip on living the good life without breaking the back. Be sure to check out my ebook (link below) if you need help working out a budget.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
But if you are guided with the right principles and reasons in deciding to live a frugal life, you would never go wrong. If you have decided to live frugally, no need to be worried of insults. Keep your head up high. And keep your focus through these tips.
1. Eating Out - Having gimmicks with friends on a Friday night is fine if you do it once in a while. But this can be expensive if you add them up at the end of the month.
2. Clothing - Naturally, if you are the kind of person who adores signature and designer clothes, do not expect that there will be something left of your take home pay. Instead of being trendy, wear clothes that can easily be matched with your other clothes.
3. Own Home - If you are planning to move out and find a place to settle, do not be overwhelmed by the excitement, instead be practical. As a start, buy a smaller house or try other ways like rent-to-own, do-it-yourself arrangements, and owner financing.
4. Buying Your Own Car - Shy away from sports cars or SUVs. Just stick to your purpose of buying a car which is to transport you anywhere you need to go. Check out also program cars like a new car warranty. Maybe this is not just the best time to replace your car with a new one.
5. Shopping for Groceries - As much as possible do not go with items that are branded. Choose non-brands and try looking for items on the highest or lowest shelves for best prices. Grab the opportunity and shop during sales or use coupons.
6. Family Out - There are inexpensive ways to bond with your family and be entertained like going to libraries, local parks, malling, picnics, visit friends and local church.
7. Buying School Supplies - Stock school supplies at home and do not buy anything fancy.
8. Be contented with what you have and try to live within what you earn.
9. Plan your Child’s College Education - Teach them the ways to be independent and self-supporting by encouraging them to apply for scholarships and “on campus jobs”.
10. Be Aware of your Financial Limitations
11. Anticipate your Failures by Planning - Have always a budget plan so you would avoid impulsive buying.
Being frugal in the long run gives one the resources to get through tough times, and in better times enjoy special moments and not worry about finances. Remember I'm on your side as we are all in this together. Come back again next week for another great tip on living the good life without breaking the back. Be sure to check out my ebook (link below) if you need help working out a budget.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Monday, November 17, 2008
Using Budgeting Tools
Using Budgeting Tools
In these tough economic times one needs to spend wisely. The best way to do so is to make a budget and stick to it. Budgeting your monthly expenses in order to get the greatest return on your income (and perhaps, even put aside some for saving!) doesn’t have to be extremely hard.
Various budgeting programs are available for use. Money management programs provide you with a usual package that allows you to enter your cash inflows and outflows, categorizes your expenditures, and at times, presents to you analysis of your spending behavior. Through these programs you can also input the various payments you have to make monthly, and subsequently track if you’ve paid your dues on time. Moreover, some programs also offer you a tax form draft that will help you make sure you’re not missing out on any dues or any deductibles, for that matter.
Another budgeting tool that you can utilize are coupons. Various stores and magazines contain coupons that you can use to get discounts on various products. Should there be a need to purchase a particular product for which you have a coupon for, you will end up saving a fraction of what you might have had to spend on a regular purchase.
Lists—whether on a piece of paper, on your cellular phone, or on your personal digital assistant (PDA) will help you keep focused on what you have to buy, and in effect, keep track of the purchases you make. A classic example is your regular grocery trip. Prior to making the trip, plan out the week’s entire menu and identify what food items and materials you need to purchase that are unavailable in your pantry. Then, make a list of other household items that you’ve run out of (or are eventually going to run out of before you can make the next trip to the grocery). Armed with these lists, you can go to the grocery and know exactly where to go and what you’re going to buy. Without these lists, you will walk idly along aisles, and will likely pick up various food items that you won’t likely need in the immediate future, or already have at home.
A filing system is perhaps one of the best budgeting tools you can have in your home. With simple, labeled file folders, you can put together your bills, your receipts, and whatever bank documents are issued to you when you save or pay. By putting together your bills, your credit card receipts, and the like, you are able to keep track of how much you owe and when your payments are due.
Effective budgeting tools are those that best address your needs as a consumer. Create your own budgeting tool or find a program, or a book, (I just happen to have one handy) or some other resource to do it for you—just make sure it suits your lifestyle.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
In these tough economic times one needs to spend wisely. The best way to do so is to make a budget and stick to it. Budgeting your monthly expenses in order to get the greatest return on your income (and perhaps, even put aside some for saving!) doesn’t have to be extremely hard.
Various budgeting programs are available for use. Money management programs provide you with a usual package that allows you to enter your cash inflows and outflows, categorizes your expenditures, and at times, presents to you analysis of your spending behavior. Through these programs you can also input the various payments you have to make monthly, and subsequently track if you’ve paid your dues on time. Moreover, some programs also offer you a tax form draft that will help you make sure you’re not missing out on any dues or any deductibles, for that matter.
Another budgeting tool that you can utilize are coupons. Various stores and magazines contain coupons that you can use to get discounts on various products. Should there be a need to purchase a particular product for which you have a coupon for, you will end up saving a fraction of what you might have had to spend on a regular purchase.
Lists—whether on a piece of paper, on your cellular phone, or on your personal digital assistant (PDA) will help you keep focused on what you have to buy, and in effect, keep track of the purchases you make. A classic example is your regular grocery trip. Prior to making the trip, plan out the week’s entire menu and identify what food items and materials you need to purchase that are unavailable in your pantry. Then, make a list of other household items that you’ve run out of (or are eventually going to run out of before you can make the next trip to the grocery). Armed with these lists, you can go to the grocery and know exactly where to go and what you’re going to buy. Without these lists, you will walk idly along aisles, and will likely pick up various food items that you won’t likely need in the immediate future, or already have at home.
A filing system is perhaps one of the best budgeting tools you can have in your home. With simple, labeled file folders, you can put together your bills, your receipts, and whatever bank documents are issued to you when you save or pay. By putting together your bills, your credit card receipts, and the like, you are able to keep track of how much you owe and when your payments are due.
Effective budgeting tools are those that best address your needs as a consumer. Create your own budgeting tool or find a program, or a book, (I just happen to have one handy) or some other resource to do it for you—just make sure it suits your lifestyle.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Monday, November 10, 2008
Holiday Money Saving Ideas
With the hype that holidays usually bring, people always have the tendency to buy more and spend more without taking into account the consequences that their actions can bring.
Hence, it does not necessarily mean that because it is the holidays you have all the reason in this world to buy whatever you want and spend how much you want. Some people contend that it’s just once a year, so better give what you have. However there are smart ways to spend and still enjoy the fun of gift giving.
The problem is that giving something just for the spirit of the holidays does not mean you have to spend gold. You can still give something that will be deeply appreciated without having to spend more money.
Here’s how:
1. Make a budget and stick to it
The problem with most people is that they find making a budget relatively easy but sticking to it is doubly hard. So what’s the point of making a budget when you do not know how to conform to what you have stated in there?
Making and using your budget should always go hand in hand. Therefore, when you make your budget this holiday season, it is best that you follow the things that are written in it so that you would be able to save more money.
2. Live within your means
Of course, everybody would want to give gifts because that is what the holiday season calls for. However, it does not necessarily mean that you have to spend more than what you can afford.
The trick to saving more money is to always live within your means. Spending more than what you can afford will definitely bring more problems than you can afford to solve.
3. Personalize it!
As they say, it is the thought that counts. Hence, there are no better ways to show how much you have thought of those people this holiday season than making personalized gifts.
4. Shop and compare
It really pays to shop around and doubly better when you compare prices. You will never know which items are better priced than the others are when you do not compare their values.
The point here is that you should not be confined to one shopping portal. Try to look for other items, usually in thrift stores and consignment shops, where you can find the best items at a lower price.
Indeed, shopping for the holidays can be fun, but you don’t have to be spendthrift. Nowadays, you really just have to be practical.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Hence, it does not necessarily mean that because it is the holidays you have all the reason in this world to buy whatever you want and spend how much you want. Some people contend that it’s just once a year, so better give what you have. However there are smart ways to spend and still enjoy the fun of gift giving.
The problem is that giving something just for the spirit of the holidays does not mean you have to spend gold. You can still give something that will be deeply appreciated without having to spend more money.
Here’s how:
1. Make a budget and stick to it
The problem with most people is that they find making a budget relatively easy but sticking to it is doubly hard. So what’s the point of making a budget when you do not know how to conform to what you have stated in there?
Making and using your budget should always go hand in hand. Therefore, when you make your budget this holiday season, it is best that you follow the things that are written in it so that you would be able to save more money.
2. Live within your means
Of course, everybody would want to give gifts because that is what the holiday season calls for. However, it does not necessarily mean that you have to spend more than what you can afford.
The trick to saving more money is to always live within your means. Spending more than what you can afford will definitely bring more problems than you can afford to solve.
3. Personalize it!
As they say, it is the thought that counts. Hence, there are no better ways to show how much you have thought of those people this holiday season than making personalized gifts.
4. Shop and compare
It really pays to shop around and doubly better when you compare prices. You will never know which items are better priced than the others are when you do not compare their values.
The point here is that you should not be confined to one shopping portal. Try to look for other items, usually in thrift stores and consignment shops, where you can find the best items at a lower price.
Indeed, shopping for the holidays can be fun, but you don’t have to be spendthrift. Nowadays, you really just have to be practical.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Wednesday, October 15, 2008
Get Through This Crisis With Common Sense Budgeting!
Get Through This Crisis With Common Sense Budgeting!
The first step in getting your finances under control is to Avoid Spending Pitfalls!
With all the advantages that are evident from personal budgeting, it is no wonder that more and more people are relying on them to reduce debts and increase their savings. However, all ‘budgeters’ need to be careful to avoid some common pitfalls that appear often.
Credit cards may seem like small pieces of plastic, however they can cause a great deal of trouble for the owners. It is common for people to make unwise purchases, which they would have avoided otherwise, because they had the credit card in their wallet. The best solution for many people is simply to get rid of credit cards and begin paying only by cash, check, or debit cards. You may want to keep one card handy for emergencies, but it is probably best to keep it out of reach, and far away from your wallet.
Another problem with budgeting is impatience. There are financial goals set, but people do not have the patience to complete a savings program. For instance, an individual begins setting aside money for a new car; however, after a few months they discover the car of their dreams. Rather than waiting, they make the purchase. This could pose some serious financial strains. Discipline is a must to prevent impatience from breaking your budget.
Once a person makes a budget, they often fail to adjust it when necessary. A budget is created using a set of expenses and income figures that are liable to change. As these figures do change, it is important that the budget changes to reflect the adjustments. There could be some major deficits if this is not done appropriately and promptly.
Of course nobody forgets about Christmas or Hanukkah, however many people do not consider budgeting for holidays when creating a budget. Therefore, adequate funds have not been set aside for presents, food, parties, etc. These items should be factored in and saved for throughout the year.
Finally, many people factor in transportation and accommodations for vacations in their budget, however they underestimate money needed for food, entertainment, and spending money. Keep in mind that all the resorts and tourists areas are double or triple what you would normally pay.
With a little planning, you’ll be on your way to saving more money than you ever thought possible!
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
The first step in getting your finances under control is to Avoid Spending Pitfalls!
With all the advantages that are evident from personal budgeting, it is no wonder that more and more people are relying on them to reduce debts and increase their savings. However, all ‘budgeters’ need to be careful to avoid some common pitfalls that appear often.
Credit cards may seem like small pieces of plastic, however they can cause a great deal of trouble for the owners. It is common for people to make unwise purchases, which they would have avoided otherwise, because they had the credit card in their wallet. The best solution for many people is simply to get rid of credit cards and begin paying only by cash, check, or debit cards. You may want to keep one card handy for emergencies, but it is probably best to keep it out of reach, and far away from your wallet.
Another problem with budgeting is impatience. There are financial goals set, but people do not have the patience to complete a savings program. For instance, an individual begins setting aside money for a new car; however, after a few months they discover the car of their dreams. Rather than waiting, they make the purchase. This could pose some serious financial strains. Discipline is a must to prevent impatience from breaking your budget.
Once a person makes a budget, they often fail to adjust it when necessary. A budget is created using a set of expenses and income figures that are liable to change. As these figures do change, it is important that the budget changes to reflect the adjustments. There could be some major deficits if this is not done appropriately and promptly.
Of course nobody forgets about Christmas or Hanukkah, however many people do not consider budgeting for holidays when creating a budget. Therefore, adequate funds have not been set aside for presents, food, parties, etc. These items should be factored in and saved for throughout the year.
Finally, many people factor in transportation and accommodations for vacations in their budget, however they underestimate money needed for food, entertainment, and spending money. Keep in mind that all the resorts and tourists areas are double or triple what you would normally pay.
With a little planning, you’ll be on your way to saving more money than you ever thought possible!
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Monday, September 29, 2008
Surviving Tough Times - Create and Maintain a Budget
Tough times are here again, and as usual a lot of people are screaming that the “government” or “Big business” screwed them over. Nonsense, the problem lies in individual responsibility. The problem is too many people think that good times are always gong to last, and when trouble hits they are devastated. However there are a lot of people that are still enjoying life, even in bad times. How do they do it? Easy, they just make a budget and stick to it, no matter what the economy is doing. How do they do it, and if you aren't one of them how can you join them? Well here's a few tips to help you get started.
The first step to avoiding the troubles of financial debt is to create and maintain a budget. It’s not as intimidating as it sounds, don’t worry.
First off, create a list of all your monthly income and also a list of your monthly expenses. When determining income, list all sources including alimony, child support, side jobs, etc. In calculating expenses, be sure to include housing, food, transportation, utilities, entertainment, etc. To gain an accurate reflection of actual expenses, sit down each night and write down expenses, just make sure to save receipts. Determine if your income covers all of your expenses. If the answer is no, then some expenses need to be reduced.
Adjust expenses. If it is a small discrepancy, it may mean reducing some minor expenses like entertainment or cell phone plan. If the deficit is larger, you may need to downsize your vehicle or living arrangements. If your income covers all of your expenses, you still may want to trim some of the excess fat off your spending habits. This can free up extra money for things such as vacations or college funds for your children.
Additionally, consider if you need to add new categories. Some areas that are often overlooked are debt reduction, emergency savings funds, and retirement savings. An emergency fund ensures there is an adequate amount available to cover unforeseen events (car emergency, etc), should it arise. This will eliminate the need for using credit which can quickly damage your budget.
There are several advantages to sticking to your budget. Firstly, most people have set financial goals that they would like to reach in the future. Sometimes it may be a trip, a brand new car, or a college education. A budget can help people save money to make these goals a reality. Additionally, many people are crushed under heavy consumer debt. Without a disciplined pattern of spending, it is virtually impossible to make much headway in reducing debt. A personal budget will provide the necessary framework to begin eliminating these inflated account balances.
If executed properly, a budget will allow a person to simultaneously meet their expenses, place money into savings, and pay back outstanding debts. Therefore, it is anyone’s best interest to create and implement a budget.
Cut Back on Spending
One of the first steps to take when developing your budget is to control your spending.
At first it may seem difficult to limit spending and stick to a budget, however there are a few practical changes that you can make everyday that will cut your spending more than you expect.
Firstly, alter credit card behavior. Start to pay cash whenever possible. This will help you avoid making a purchase unless you actually have the money available. If you decide to make a credit card purchase, be prepared to pay the balance off monthly. This will save a lot of money through avoiding interest charges. If you already have a credit card balance, then transfer to a card with a low interest rate. Also, find a card that does not charge an annual fee.
Another tip is to pack your lunch everyday. All of those lunch hours spent at restaurants will add up. Bringing your own lunch can save you several dollars every day, which will add up over time.
Use your cell phone during off peak hours. Some people will spend a couple hundred dollars a month on phone charges. Avoid this by making most calls during off peak times. Check with your service and plan to find out when you have cheaper or unlimited calls.
Stop throwing away the Sunday newspaper before skimming through the advertisements. Clip some of those coupons and check out the sales. This may seem tedious, but the savings are often worth it. Many stores will double or triple the amount of the coupon. This technique can save you up to 20 or 30 dollars each time you head to the food store.
Additionally, refinance. Mortgage rates have been extremely low over the past year. This has been a great opportunity to reduce the monthly house payment significantly. If you are planning to have your house paid off prior to retirement, then you may want to factor this in before refinancing.
Finally, bundle your insurance. Many insurance companies will offer their customers lower rates if they purchase multiple policies. For instance, some people use the same agent for multiple cars, and others combine their cars and house. Always keep in mind that a dollar here and there really begins to add up. Avoid the temptation of thinking that changing your spending habits wouldn’t save that much money.
Put these ideas into action and you will see a difference right away. Keep it up and you will find that most of what you thought was necessary was actually waste. On the plus side you will have money for those times when you really want to do something special.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
The first step to avoiding the troubles of financial debt is to create and maintain a budget. It’s not as intimidating as it sounds, don’t worry.
First off, create a list of all your monthly income and also a list of your monthly expenses. When determining income, list all sources including alimony, child support, side jobs, etc. In calculating expenses, be sure to include housing, food, transportation, utilities, entertainment, etc. To gain an accurate reflection of actual expenses, sit down each night and write down expenses, just make sure to save receipts. Determine if your income covers all of your expenses. If the answer is no, then some expenses need to be reduced.
Adjust expenses. If it is a small discrepancy, it may mean reducing some minor expenses like entertainment or cell phone plan. If the deficit is larger, you may need to downsize your vehicle or living arrangements. If your income covers all of your expenses, you still may want to trim some of the excess fat off your spending habits. This can free up extra money for things such as vacations or college funds for your children.
Additionally, consider if you need to add new categories. Some areas that are often overlooked are debt reduction, emergency savings funds, and retirement savings. An emergency fund ensures there is an adequate amount available to cover unforeseen events (car emergency, etc), should it arise. This will eliminate the need for using credit which can quickly damage your budget.
There are several advantages to sticking to your budget. Firstly, most people have set financial goals that they would like to reach in the future. Sometimes it may be a trip, a brand new car, or a college education. A budget can help people save money to make these goals a reality. Additionally, many people are crushed under heavy consumer debt. Without a disciplined pattern of spending, it is virtually impossible to make much headway in reducing debt. A personal budget will provide the necessary framework to begin eliminating these inflated account balances.
If executed properly, a budget will allow a person to simultaneously meet their expenses, place money into savings, and pay back outstanding debts. Therefore, it is anyone’s best interest to create and implement a budget.
Cut Back on Spending
One of the first steps to take when developing your budget is to control your spending.
At first it may seem difficult to limit spending and stick to a budget, however there are a few practical changes that you can make everyday that will cut your spending more than you expect.
Firstly, alter credit card behavior. Start to pay cash whenever possible. This will help you avoid making a purchase unless you actually have the money available. If you decide to make a credit card purchase, be prepared to pay the balance off monthly. This will save a lot of money through avoiding interest charges. If you already have a credit card balance, then transfer to a card with a low interest rate. Also, find a card that does not charge an annual fee.
Another tip is to pack your lunch everyday. All of those lunch hours spent at restaurants will add up. Bringing your own lunch can save you several dollars every day, which will add up over time.
Use your cell phone during off peak hours. Some people will spend a couple hundred dollars a month on phone charges. Avoid this by making most calls during off peak times. Check with your service and plan to find out when you have cheaper or unlimited calls.
Stop throwing away the Sunday newspaper before skimming through the advertisements. Clip some of those coupons and check out the sales. This may seem tedious, but the savings are often worth it. Many stores will double or triple the amount of the coupon. This technique can save you up to 20 or 30 dollars each time you head to the food store.
Additionally, refinance. Mortgage rates have been extremely low over the past year. This has been a great opportunity to reduce the monthly house payment significantly. If you are planning to have your house paid off prior to retirement, then you may want to factor this in before refinancing.
Finally, bundle your insurance. Many insurance companies will offer their customers lower rates if they purchase multiple policies. For instance, some people use the same agent for multiple cars, and others combine their cars and house. Always keep in mind that a dollar here and there really begins to add up. Avoid the temptation of thinking that changing your spending habits wouldn’t save that much money.
Put these ideas into action and you will see a difference right away. Keep it up and you will find that most of what you thought was necessary was actually waste. On the plus side you will have money for those times when you really want to do something special.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Monday, June 16, 2008
HIDDEN CREDIT AND CREDIT CARDS SECRETS
We hear and see billions of commercials, emails and banner ads about credit and credit cards. But what do you really need to know about credit cards and credit to survive? How do you go about building up your credit and how can you get back after a devastating credit problem? This article covers some of the basics, but you should study each technique more in depth.
If you have any charge accounts now, or have ever borrowed from the bank to buy a car, or if you are paying on a mortgage, there is credit information on you. Up until a few years ago, you could only guess at what your credit rating was, because the credit bureaus who keep track of borrowers wouldn't tell the borrowers anything! But that's been changed through several laws, and now the bureaus have to send you your credit file when you request it. If you've been denied credit on the basis of their record, they will send you a copy of that record without charge, if you request it within 30 days of the credit denial. If you haven't been denied credit but just want to know what your file says, you must pay a small fee to find out.
It is well worth your trouble to obtain your report. You may well find (because thousands do) that there is a piece of misinformation that is injuring you without your knowing it, which you can straighten out by submitting copies of documentary proof (never mail originals of anything important - it may get lost in the mail) of bills paid, payments made, etc.
If, for one reason or another, you are not listed, or they have insufficient information on you to "rate" your suitability for credit, you must take steps to correct this.
If you have no record because you hold no cards and have no charge accounts, or because you have just come in from out-of-town, then you'd better start assembling one. It may sound a little ridiculous, but nobody will lend money to someone's who's always paid cash! You have to have borrowed money or run up charges and paid them back to be able to borrow larger sums as time goes along.
Start with the local merchants in your immediate area, the ones that already know you. Even if you don't need it right now, ask them if you can set up a charge account with them. In most cases they'll be glad to oblige you, they already know you're local, and that you patronize them regularly. when you get the credit, charge a few items each week, and pay your account promptly when presented. In this way, you'll build up a good credit record with these merchants in a short time.
Go to the bank where you keep your checking account, and ask to borrow a nominal sum (say $500), which they are unlikely to refuse you. Do this even if you don't need the money, because you do need the repayment record on their books. Repay the loan on a regular basis when due. Do not accelerate, and pay it all back the next month. Strangely enough the banks do not like that, because to them that indicates a "feast or famine" situation, rather than a steady payer. The interest cost on this loan, even if you have no need for the money, will be well worth paying to build up your credit record. Besides, you can minimize this interest cost by depositing the money you have borrowed (assuming you do not immediately need it), in a savings account, and collecting the interest, which will defray a good part of the cost of the interest you are paying.
Once these charge accounts and the loan have been operating for a while, proceed to stage two, and ask a large local department store for a charge account. Most likely they will be happy to give you their charge card. Build up your rating with them by occasional purchases and prompt payment, and then you proceed to stage three, and apply for the less selective national credit cards, Master Charge and Visa, which you should a this point be able to get without too much difficulty.
Once you have national bank credit, it's easy to get credit from all the oil companies, which makes traveling around a cash-free pleasure. Some gas stations take national cards like Master Charge, but most only take their own credit cards, so you should not overlook these, just because you already have others.
Once you have all the other cards, a paid-up loan or two, and a fine record of promptly paying your bills, you may be able to get the most selective cards of all, the "travel and entertainment" cards. These are American Express, Diners' Club and Carte Blanche. These cards operate on a different system
than ordinary retail store cards, or the national bank cards, both of which are revolving credit plans on which you pay a small amount each month, until your balance is all paid up. The store or bank hopes you take a long time to pay, because they make their money on the 1 1/2% monthly (which is 18% yearly!) finance and, or interest charges.
The T&E cards, however, expect you to pay your bills at the end of the month! Let your account get 60 days or more delinquent, and they'll cancel you out as fast as a flash of lightning. Although these cards do not charge interest, they do charge you a fee for membership.
So how do you get these marvelous bits of plastic that open up the doors of exotic nightspots in Tangiers as easily as your nearby Howard Johnson's? Your good credit record, that you have already established, will be the most help. Since the T&E people want you to pay your bills promptly each month, they want to know that you have a steady record of paying bills promptly to other people.
So first American Express, or Carte Blanche, or Diners' Club, looks at your credit record. Then at your salary or other income. Most of them have cut-off points below which they will not grant their cards. But even if you earn more than their minimum requirements, they don't automatically okay you for their credit. They look at your stability! How do they measure stability? How long have you worked on your present job? If you don't have a minimum of two years of steady work in one place, they may not consider you at all. How long have you lived at your present address? At your previous address? And do you rent an apartment which means you could move tomorrow, or do you own your own house, which means you will probably still be in the same place next year. How stable is your livelihood?
Do people in your field of work get laid off frequently?
Once you have all the major national credit cards in your wallet, you can live like the millionaires do, even though you haven't yet become one. You can go into a fancy store, or even call them on the telephone, and order those wonderful luxuries which make life so much more exciting, like furs and diamonds, for your loved one, or new furniture or appliances for your living room, bedroom or kitchen. All of this can come true in the wonderful world of credit. Now in today's world you can charge almost anything on a credit card, from admission to a nudist camp in France, to medical care at a hospital in Atlanta, university courses in New York City, funerals in Los Angeles, and even the services of legal prostitutes in Las Vegas.
But what do you do if you haven't been able to pay your bills promptly, or you've run up more than you can handle, or you don't have a very stable work history? Do you have to give up the dreams of credit-card living? Not entirely!
Once you find out which credit conditions in your background are the most troublesome (from the credit report you have already sent for), you then start to create new conditions that you can then base your records on. If you were out of work, perhaps you can get a reference from someone you know who owns a business and is willing to say that you worked for him, if the credit card company checks your references. If your bills are too high, and you've missed a few payments, perhaps you should see
one of the free consumer-counseling services that are springing up in the larger cities which will enable you to consolidate your debts into a manageable amount. Remember that credit card companies don't care very much about the amount you owe, but they care a lot about whether you pay steadily, every single month, even if the amount each month is small, and the entire debt will take years to pay off!
Don't overlook ways to establish good credit without buying anything! For example, you have telephone service in your own name, you have a record of paying bills to them which is then part of your credit record. The same for your gas and electric supplies from you local public utilities. These services, when they are in your name, will show prospective merchants that you do have a record of paying bills, even if you haven't yet established retail store or bank credit.
The world of credit has one more trick you should know about, this one that actually saves you money right on the spot. All you have to do is carry your credit cards with you when you go out shopping, even if you intend to pay by cash. Then you have to keep an eye open for the smaller, personal service-type shops, where the boss himself, or one of the partners, is always present (you'll see why in a minute). As you walk in, check out the decals on the door to see which credit cards they accept. Then select your purchase in the way you normally would - taking your usual care to be sure you're getting the right item at the right price. When the deal's all set, produce your credit card (one of those you know he takes), and say "I'd like to charge it, please!" At this, the merchant's face will probably drop
about six feet, but he'll take your card and walk over to the imprinting machine (or maybe to the telephone to check your credit status). He hasn't got much choice, he has to take your card if he uses their decal in the window. But the point is, he hates to, because he has to pay the credit card company a percentage of the sale, usually somewhere between 6% and 10%.
Now, while he's vulnerable, is the time to hit him with a casually dropped remark like "say, how about knocking 5% off the price, and I'll pay cash instead?" The chances are he'll accept your offer, because it saves him the other part of the credit card company percentage, and because it saves him bookkeeping chores, and waiting from 3 to 7 days for his money to be credited to him by the credit card company.
The reason why this gimmick doesn't work in big stores is that the clerk doesn't give a damn what it costs the boss, and has no authority to take an additional percentage off the price, so he'll just go ahead and write up your credit card invoice.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
If you have any charge accounts now, or have ever borrowed from the bank to buy a car, or if you are paying on a mortgage, there is credit information on you. Up until a few years ago, you could only guess at what your credit rating was, because the credit bureaus who keep track of borrowers wouldn't tell the borrowers anything! But that's been changed through several laws, and now the bureaus have to send you your credit file when you request it. If you've been denied credit on the basis of their record, they will send you a copy of that record without charge, if you request it within 30 days of the credit denial. If you haven't been denied credit but just want to know what your file says, you must pay a small fee to find out.
It is well worth your trouble to obtain your report. You may well find (because thousands do) that there is a piece of misinformation that is injuring you without your knowing it, which you can straighten out by submitting copies of documentary proof (never mail originals of anything important - it may get lost in the mail) of bills paid, payments made, etc.
If, for one reason or another, you are not listed, or they have insufficient information on you to "rate" your suitability for credit, you must take steps to correct this.
If you have no record because you hold no cards and have no charge accounts, or because you have just come in from out-of-town, then you'd better start assembling one. It may sound a little ridiculous, but nobody will lend money to someone's who's always paid cash! You have to have borrowed money or run up charges and paid them back to be able to borrow larger sums as time goes along.
Start with the local merchants in your immediate area, the ones that already know you. Even if you don't need it right now, ask them if you can set up a charge account with them. In most cases they'll be glad to oblige you, they already know you're local, and that you patronize them regularly. when you get the credit, charge a few items each week, and pay your account promptly when presented. In this way, you'll build up a good credit record with these merchants in a short time.
Go to the bank where you keep your checking account, and ask to borrow a nominal sum (say $500), which they are unlikely to refuse you. Do this even if you don't need the money, because you do need the repayment record on their books. Repay the loan on a regular basis when due. Do not accelerate, and pay it all back the next month. Strangely enough the banks do not like that, because to them that indicates a "feast or famine" situation, rather than a steady payer. The interest cost on this loan, even if you have no need for the money, will be well worth paying to build up your credit record. Besides, you can minimize this interest cost by depositing the money you have borrowed (assuming you do not immediately need it), in a savings account, and collecting the interest, which will defray a good part of the cost of the interest you are paying.
Once these charge accounts and the loan have been operating for a while, proceed to stage two, and ask a large local department store for a charge account. Most likely they will be happy to give you their charge card. Build up your rating with them by occasional purchases and prompt payment, and then you proceed to stage three, and apply for the less selective national credit cards, Master Charge and Visa, which you should a this point be able to get without too much difficulty.
Once you have national bank credit, it's easy to get credit from all the oil companies, which makes traveling around a cash-free pleasure. Some gas stations take national cards like Master Charge, but most only take their own credit cards, so you should not overlook these, just because you already have others.
Once you have all the other cards, a paid-up loan or two, and a fine record of promptly paying your bills, you may be able to get the most selective cards of all, the "travel and entertainment" cards. These are American Express, Diners' Club and Carte Blanche. These cards operate on a different system
than ordinary retail store cards, or the national bank cards, both of which are revolving credit plans on which you pay a small amount each month, until your balance is all paid up. The store or bank hopes you take a long time to pay, because they make their money on the 1 1/2% monthly (which is 18% yearly!) finance and, or interest charges.
The T&E cards, however, expect you to pay your bills at the end of the month! Let your account get 60 days or more delinquent, and they'll cancel you out as fast as a flash of lightning. Although these cards do not charge interest, they do charge you a fee for membership.
So how do you get these marvelous bits of plastic that open up the doors of exotic nightspots in Tangiers as easily as your nearby Howard Johnson's? Your good credit record, that you have already established, will be the most help. Since the T&E people want you to pay your bills promptly each month, they want to know that you have a steady record of paying bills promptly to other people.
So first American Express, or Carte Blanche, or Diners' Club, looks at your credit record. Then at your salary or other income. Most of them have cut-off points below which they will not grant their cards. But even if you earn more than their minimum requirements, they don't automatically okay you for their credit. They look at your stability! How do they measure stability? How long have you worked on your present job? If you don't have a minimum of two years of steady work in one place, they may not consider you at all. How long have you lived at your present address? At your previous address? And do you rent an apartment which means you could move tomorrow, or do you own your own house, which means you will probably still be in the same place next year. How stable is your livelihood?
Do people in your field of work get laid off frequently?
Once you have all the major national credit cards in your wallet, you can live like the millionaires do, even though you haven't yet become one. You can go into a fancy store, or even call them on the telephone, and order those wonderful luxuries which make life so much more exciting, like furs and diamonds, for your loved one, or new furniture or appliances for your living room, bedroom or kitchen. All of this can come true in the wonderful world of credit. Now in today's world you can charge almost anything on a credit card, from admission to a nudist camp in France, to medical care at a hospital in Atlanta, university courses in New York City, funerals in Los Angeles, and even the services of legal prostitutes in Las Vegas.
But what do you do if you haven't been able to pay your bills promptly, or you've run up more than you can handle, or you don't have a very stable work history? Do you have to give up the dreams of credit-card living? Not entirely!
Once you find out which credit conditions in your background are the most troublesome (from the credit report you have already sent for), you then start to create new conditions that you can then base your records on. If you were out of work, perhaps you can get a reference from someone you know who owns a business and is willing to say that you worked for him, if the credit card company checks your references. If your bills are too high, and you've missed a few payments, perhaps you should see
one of the free consumer-counseling services that are springing up in the larger cities which will enable you to consolidate your debts into a manageable amount. Remember that credit card companies don't care very much about the amount you owe, but they care a lot about whether you pay steadily, every single month, even if the amount each month is small, and the entire debt will take years to pay off!
Don't overlook ways to establish good credit without buying anything! For example, you have telephone service in your own name, you have a record of paying bills to them which is then part of your credit record. The same for your gas and electric supplies from you local public utilities. These services, when they are in your name, will show prospective merchants that you do have a record of paying bills, even if you haven't yet established retail store or bank credit.
The world of credit has one more trick you should know about, this one that actually saves you money right on the spot. All you have to do is carry your credit cards with you when you go out shopping, even if you intend to pay by cash. Then you have to keep an eye open for the smaller, personal service-type shops, where the boss himself, or one of the partners, is always present (you'll see why in a minute). As you walk in, check out the decals on the door to see which credit cards they accept. Then select your purchase in the way you normally would - taking your usual care to be sure you're getting the right item at the right price. When the deal's all set, produce your credit card (one of those you know he takes), and say "I'd like to charge it, please!" At this, the merchant's face will probably drop
about six feet, but he'll take your card and walk over to the imprinting machine (or maybe to the telephone to check your credit status). He hasn't got much choice, he has to take your card if he uses their decal in the window. But the point is, he hates to, because he has to pay the credit card company a percentage of the sale, usually somewhere between 6% and 10%.
Now, while he's vulnerable, is the time to hit him with a casually dropped remark like "say, how about knocking 5% off the price, and I'll pay cash instead?" The chances are he'll accept your offer, because it saves him the other part of the credit card company percentage, and because it saves him bookkeeping chores, and waiting from 3 to 7 days for his money to be credited to him by the credit card company.
The reason why this gimmick doesn't work in big stores is that the clerk doesn't give a damn what it costs the boss, and has no authority to take an additional percentage off the price, so he'll just go ahead and write up your credit card invoice.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Tuesday, March 11, 2008
The How To's of Better Budgeting
To live the good life on limited resources, one must learn to budget wisely. A budget is nothing more than basically a monetary plan, outlining your financial goals. Having a budget, you can well establish and regulate funds, set and achieve your financial objectives, and make advance decisions as to how you want your finances to function well for you.
The main idea in budgeting is for you to put aside a certain amount of money for expected as well as unexpected costs. Simply put, budgeting means estimating monthly home expenses basing it on previous expenses and bills, and figuring out what you need so you don't have to worry about money.
The initial step to take in budgeting is to find out how long will your compensation last. Define fixed expenses like car payments, home rental, insurance, etc. Likewise follow up your expenditures thoroughly for a month so you can discover and understand where your funds are going. Through proper determination of your “spending patterns”, you can immediately identify solutions for effective budgeting. Use a computer program (there are a lot of good Open Source Programs you can find using your favorite search engine) or a paper ledger (a notebook would work as well) to track your spending for a month or two to discover these patterns.
For instance, when you have a steady monthly income of $4,000, you should subtract all your identified monthly bills from that income.
Other bills can be assessed and then subtracted from the amount of your income. The balance that remained after fixed costs can now be your budget in the household. Rather than allocating money for miscellaneous like gas, clothing, entertainment and groceries, financial planning will allow you instead to use proportions or percentages of it.
The strategic solution in order for budgeting to be successful is inflexibility as well as flexibility; there are fixed expenses so payment must be an inflexible factor. Budgeting will best work when very scarce omissions are made to greater limits. The idea here is to formulate goals and plans, then abide by it as much as you possibly can.
Here are tips on how to make a budget that you can live with:
1. Adopt a good sense of money management. Your attitude is essential in anything you do. Reach an agreement with yourself, and make intelligent compromises and know the importance of reducing unnecessary expenditures; it all involves a lot of sacrifice but will be good for you in the future.
2. Plan out your financial situation. Make a list of your income to one side and your fixed expenses on the other side. Then subtract out a percentage of the difference and make that your monthly savings for emergency purposes. The rest is what you can use for "luxury items".
3. Know the difference between luxuries and necessities. List down what you believe as luxuries, with it, split the list in half, crossing out half the list. Do you really need to buy those DVD's, CD's or video games? Couldn't you get them from the library for free?
4. Practice frugality but with dignity. You can have fun with little or without spending at all. Rather than going shopping, or being the life of the party, learn to enjoy simpler pleasures.
Budgeting is an effective and fundamental tool that is can be used easily by everyone. Consider making one, sticking to it, and benefit from eh fruits of your savings.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
The main idea in budgeting is for you to put aside a certain amount of money for expected as well as unexpected costs. Simply put, budgeting means estimating monthly home expenses basing it on previous expenses and bills, and figuring out what you need so you don't have to worry about money.
The initial step to take in budgeting is to find out how long will your compensation last. Define fixed expenses like car payments, home rental, insurance, etc. Likewise follow up your expenditures thoroughly for a month so you can discover and understand where your funds are going. Through proper determination of your “spending patterns”, you can immediately identify solutions for effective budgeting. Use a computer program (there are a lot of good Open Source Programs you can find using your favorite search engine) or a paper ledger (a notebook would work as well) to track your spending for a month or two to discover these patterns.
For instance, when you have a steady monthly income of $4,000, you should subtract all your identified monthly bills from that income.
Other bills can be assessed and then subtracted from the amount of your income. The balance that remained after fixed costs can now be your budget in the household. Rather than allocating money for miscellaneous like gas, clothing, entertainment and groceries, financial planning will allow you instead to use proportions or percentages of it.
The strategic solution in order for budgeting to be successful is inflexibility as well as flexibility; there are fixed expenses so payment must be an inflexible factor. Budgeting will best work when very scarce omissions are made to greater limits. The idea here is to formulate goals and plans, then abide by it as much as you possibly can.
Here are tips on how to make a budget that you can live with:
1. Adopt a good sense of money management. Your attitude is essential in anything you do. Reach an agreement with yourself, and make intelligent compromises and know the importance of reducing unnecessary expenditures; it all involves a lot of sacrifice but will be good for you in the future.
2. Plan out your financial situation. Make a list of your income to one side and your fixed expenses on the other side. Then subtract out a percentage of the difference and make that your monthly savings for emergency purposes. The rest is what you can use for "luxury items".
3. Know the difference between luxuries and necessities. List down what you believe as luxuries, with it, split the list in half, crossing out half the list. Do you really need to buy those DVD's, CD's or video games? Couldn't you get them from the library for free?
4. Practice frugality but with dignity. You can have fun with little or without spending at all. Rather than going shopping, or being the life of the party, learn to enjoy simpler pleasures.
Budgeting is an effective and fundamental tool that is can be used easily by everyone. Consider making one, sticking to it, and benefit from eh fruits of your savings.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
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