To save money, families should compare prices, buy only during sales, use loyalty programs and check out factory outlets before buying goods.
Time to get a new washing machine? The kids need some new clothes? Want to surprise the spouse with a nice wedding anniversary gift? Well, if money is not an issue, getting these things is not a problem.
However, if the family needs to stretch every dollar it has, some smart shopping tips will come in handy. Here are some useful buying tips for families to get great bargains.
Compare Prices and Ask for a Bargain Before Shopping
It's important to know the value of goods before buying them. Visiting stores and checking out catalogues and flyers help. However, there's an even better approach to compare prices. Consumers can use comparison sites such as Shopferret.com.au and GetPrice.com to see the market prices for all kinds of goods such as clothes, toys and games, electronics, children's furniture, fragrances and beauty products as well as CDs and books.
Once the shopper gets to the store, she doesn't always have to settle for what's on the price tag. Ask for a discount. This is particularly important when buying larger items such as TVs, refrigerators or big furniture. Ask for even better deals if more items are going to be purchased. Some shops give free or cheaper deliveries if there are big purchases. But be sure to ask for these perks.
Buy Only During Sales
There are sales constantly throughout the year. So don't buy anything when the "Sales" signs are nowhere to be seen. In Australia, major retailers such as Myer, David Jones, Target, K-Mart and Big W have promotions and sales nearly every other month while fashion houses often have end-of-season sales and new season discounts. Supermarkets too have their own sale cycles.
Sign up for the loyalty programmes offered by retailers to receive alerts on upcoming sales. Another great way to check for sales is through the Internet. Great sites that list sales include the SalesGuide, CatalogueCentral and MissyConfidential websites. Also, don't throw away junk mail. Scan through the flyers to see if there are sales for things that the household needs.
Use Loyalty Programmes and Credit Card Benefits
All major retailers have their own loyalty programmes where members get extra discounts, gift vouchers and gifts with purchases. While there's no need to join every loyalty programme in town to save money, it helps to be a VIP member of shops that the family frequently buys from. A very good place to start checking out the myriad loyalty programmes is Perkler.com, which lists hundreds of such cards across Australia.
Credit cards too come with perks. Users can use them to collect bonus points to redeem gifts or vouchers. Some even offer instant rewards to their holders when they purchase at selected shops. However, do use credit cards wisely. Use them to buy only things that are needed and pay off the credit card debt in full before its due date.
Purchase From Factory Outlets
Driving around industrial areas is a good exercise for households looking for great bargains – there are often warehouse sales, clearance stores and factory outlets with out-of-season items or ex-sales stocks. It's possible to find branded goods in these outlets as well. Some items may have some slight defects but these are often not very visible. Consumers can often get branded goods at a fraction of the market price.
However, some of these factory outlets usually have very strict returns policy. Some may even state that goods sold are not returnable. So choose items carefully before paying for them.
Buying Tips for Households
To save money, families can learn some useful shopping tips. Before even leaving the house, search the Internet to know the market prices of goods. Compare prices first. Buying only during sales and promotions, using loyalty programmes and purchsing from factory outlets are also great ways to score good bargains.
Friday, November 26, 2010
Delay Gratification
The Power of Delayed Gratification with Your Money
Americans have changed so dramatically in the last fifty years. We went from being a simple group of folks who believed in working hard to an instant gratification "I want it now" society. It seems that no is no longer an acceptable answer to our wants. The idea of delayed gratification is perhaps the single choice that separates the future millionaires from the future lower class. It's not really even a decision that you make consciously unless you chose to. Despite what the finance guy at the car lot will tell you, it doesn't make any more sense to pay with nothing down and fixed monthly payments rather than just saving up and paying cash for a purchase.
There should be no doubt in anyone's mind as to which choice makes more sense financially. Both instant gratification and delayed gratification will move you in two very opposite directions with money. Choosing delayed gratification will set you on a road to financial success, where as instant gratification will get you stuck into a world of payments. Most people do not even consider that they could have invested the amount they are paying out in payments and used that money to become very wealthy.
People make purchases based on their emotions, rather than any knowledge they might have about money. This is why so many of us impulse with our money and ignore the idea of delayed gratification. Instead we have to be able to choose delayed gratification on an emotional basis rather than a head knowledge basis, because that's the only way we will consistently choose the delayed gratification option. We have to somehow make the connection in our heads that delayed gratification means security and future success. Living for the moment will only leads us to trouble.
.More: Delayed Gratification Instant Gratification Mind Power Save Power .Choosing a lifestyle of delayed gratification does not mean that we get rid of our lifestyle all together and instead only save for the future. We can sit down, enjoy life, and have some fun now, but it's a balance.
We have to make sure that we have a good balance between saving for the future, and living our life today. Most of us let this jump out of check, and that's what gets us in financial trouble. It starts out with a few trips to McDonalds, then that new TV you wanted, before you know it you have a house and a car that you'll be paying payments on for decades and there's too much month at the end of the money. By Matthew Paulson
Americans have changed so dramatically in the last fifty years. We went from being a simple group of folks who believed in working hard to an instant gratification "I want it now" society. It seems that no is no longer an acceptable answer to our wants. The idea of delayed gratification is perhaps the single choice that separates the future millionaires from the future lower class. It's not really even a decision that you make consciously unless you chose to. Despite what the finance guy at the car lot will tell you, it doesn't make any more sense to pay with nothing down and fixed monthly payments rather than just saving up and paying cash for a purchase.
There should be no doubt in anyone's mind as to which choice makes more sense financially. Both instant gratification and delayed gratification will move you in two very opposite directions with money. Choosing delayed gratification will set you on a road to financial success, where as instant gratification will get you stuck into a world of payments. Most people do not even consider that they could have invested the amount they are paying out in payments and used that money to become very wealthy.
People make purchases based on their emotions, rather than any knowledge they might have about money. This is why so many of us impulse with our money and ignore the idea of delayed gratification. Instead we have to be able to choose delayed gratification on an emotional basis rather than a head knowledge basis, because that's the only way we will consistently choose the delayed gratification option. We have to somehow make the connection in our heads that delayed gratification means security and future success. Living for the moment will only leads us to trouble.
.More: Delayed Gratification Instant Gratification Mind Power Save Power .Choosing a lifestyle of delayed gratification does not mean that we get rid of our lifestyle all together and instead only save for the future. We can sit down, enjoy life, and have some fun now, but it's a balance.
We have to make sure that we have a good balance between saving for the future, and living our life today. Most of us let this jump out of check, and that's what gets us in financial trouble. It starts out with a few trips to McDonalds, then that new TV you wanted, before you know it you have a house and a car that you'll be paying payments on for decades and there's too much month at the end of the money. By Matthew Paulson
Thursday, November 25, 2010
101 Tips To Save Money
101 Tips To Save Money can help you save cash in ways you may never have considered before. By finding ways in which we can trim the fat we can free up extra funds for either saving, investing or to buy something special. If you don't know some really useful strategies to save money then I can help you right here, right now!
Saving on purchases is a great way to build up your personal wealth. If you spend time to investigate these possibilities then you may find many dollars you can save without even having to compromise.
These saving money tips should help you learn how to save more money.
1. Free Stuff
Enter rewards programs to get free stuff, but be discerning some schemes don't offer anything you want and some you have to spend too much to receive a reward. Just go with the ones that give you points for spending on what you normally would purchase.
2. Banks
Check the banks for a different interest rates for both savings and loans. Don't just go with anyone go with anyone, get the best rates possible.
3. Sell Sell Sell
Everybody has unwanted goods lying around their home gathering dust - Well, you might as well sell them and with the cash you get you can invest for the future.
4. Budget
The first way to save money is to identify what you have to spend and what your weekly costs are. Budgets aren't boring, saving hard earn cash can be exciting when you have a long term plan.
Budgeting your money and controlling your spending is the first step towards saving more money.
5. Eat At Home
Stop eating out and start eating at home you will save a lot this way and you will know what is in the food. Help save money by preparing your food at home and creating fresh food.
6. Haggle Existing Loans
Threaten to take your business elsewhere and you'd be surprised how flexible lending institutes can be.
7. Repair Things
Repair your goods before they become very expensive to replace. Wait too long and it may cost you dearly.
8. Quit Vices
Quit smoking and other vices that not only hurt your health, but they also cost your a lot of cash in the long run.
9. Leave Your Money At Home
Don't take your wallet or purse with you when you go window shopping. At worst take a few dollars with you but leave the plastic at home.
10. Buy Generic
Often generic brands are equal in quality to their higher priced competition. Buy Generic and save cash. One of the classic strategies to save money
11. Bake A Cake
Actually, bake anything you want - The more the better - cakes, bread and cookies they taste better too.
12. Evaluate Grocery Items
Are the items you buy useful? Don't just buy from habit, make educated product comparisons and you will save money in the long run.
13. Make Large Meals And Freeze leftovers
By making extra you can save on waste and avoid extra electricity costs.
14. Pack Your Own Lunch
Don't buy lunch every day or you'll rack up the costs when you could save money by making lunch yourself.
15. Buy A Slow Cooker
Having a slow cooker means you can use cheaper cuts of meat and still have tender, delicious meals.
16. Home Brew
Make your own beer it's fun and you will save a lot of money.
17. Use Power Saving Appliances
Keep your power bills down by using energy saving appliances.
18. Buy Goods In Bulk
Bulk buy stores are great just don't buy too much or you may just end up throwing food away.
19. Pay Bills Online
Why drive to the store to pay bills when you can save fuel and pay online.
20. Buy A Home Gym
You will save money on gym fees in no time.
21. Rent Library Books
Why pay $30 for a book you will only read once? - Rent books from the library and save money.
22. Use A Cheaper Razor
Expensive razors don't necessarily do a better job than the far less expensive kind.
23. Consolidate Your Debt
If you can consolidate your debt to save money then you should do so immediately.
24. Carpool
Save money on fuel and save the environment by carpooling with colleagues.
25. Grow Your Own
If you can grow your own fruit and vegetables then you should give it a try because you can benefit from delicious organic produce and save money. Many people start out using this as one of their favorite strategies to save money. Maybe you will too?
26. Use Less Make Up
Don't use make up at least two days a week and you will save over 25% on make up costs.
27. Use The Internet
Find instructions off the internet and make as many repairs as you possibly can and you'll avoid having to hire costly experts.
28. Read Junk mail
If you can handle the temptation then look through your advertising mail for specials and coupons that can save you moolah.
29. Stay Healthy
Exercise and eat right because healthier people have lower medical expenses - It must be true then that healthier = wealthier.....Maybe?
30. Maintain Your Vehicle
Pump up your tires and clean your air filter to increase fuel efficiency and you'll save money on rising fuel costs.
31. Barter/Bargain/Haggle
If you try to bargain down every single purchase you make then you will save a phenomenal amount of money. You won't believe how successful a little haggling can be.
32. Use Energy Saving Light Bulbs
Save money on energy costs.
33. Turn Off The Lights
Create a little ambience and save energy. Never leave the light on when you leave a room.
34. Second Hand
Don't be afraid to investigate the savings you can reap from buying previously owned goods, you can pick up great deals if you are prepared to spend the time searching.
35. Fix It Now
Don't let things that need repairing disintegrate further, be pro-active and fix them now before it ends up costing you dearly.
36. Find Free Activities
If the best things in life are free then you can look forward to a world of possibilities. Parks, beaches, mountains and country sides offer a variety of locations to enjoy the great outdoors and the best part is most outdoor activities are good for your physical health.
37. Style Your own Hair
This doesn't have to mean you just do your own, you can cut your whole families hair and save money. You can style a friends hair and let them style yours in return.
38. Pack A Drink
Pack a drink whenever you intend to go somewhere and avoid having to pay $4 for a bottle of water from a convenience store. Convenience stores may have convenient locations but the prices are usually anything but.
39. Drive Smarter
Speeding burns more fuel so be a smarter driver and reduce over accelerating and braking to maximize efficient driving.
40. Net Coupons
Use the internet to find coupons online and you will save money, but be careful to only purchase products that you would otherwise buy regardless of the discount.
41. Camping Vacations
Go camping for your next vacation and you'll save money on those exorbitant hotel fees and get in touch with nature at the same time - camping makes for a great family vacation.
42. Turn Off Appliances
Appliances can use electricity even when you're not using them so turn them off at the wall to save on your energy bill. It's an energy saving strategy and its one of the best strategies to save money.
43. Have A Loose Change Jar
Never spend coins! - Only ever break notes and when you receive change, put it in a loose change jar and you will amass a nice little nest egg.
44. Maximize Your Tax
Leave no stone unturned in the quest to maximize your tax benefits. Seeking professional help is always a good step to find out the information you need to keep as much of you hard earned money as you can.
45. Bike
Leave the car at home and bike to work you'll fatten your bank balance while you shrink your waistline.
46. Use Your Computer
Make birthday cards, photos and anything you can to utilize your computer's money saving functions.
47. Know Your Supermarket
Find out when your supermarket reduces perishable items and be sure to visit during these "cheaper" times to purchase your milk and bread.
48. Bundle Your Phone
If you can get a good phone deal then it may be worth bundling your land line, cellphone/mobile and your internet connection to save money.
49. Clean Your Dryer
Clean the filter in your clothes dryer and your dryer will be more energy efficient and it wont catch fire and burn the house down....YAY!
50. Bundle Your Insurance
If and only if you can get a good deal you should bundle your collective insurances with one company to receive maximum savings.
Half Way Point
I hope you're enjoying all these tips on how to save money
Grab a glass of drink (inexpensive preferably) and get ready for some more.
51. Never boil a full kettle
Why boil a full jug of water for just one cup? - A waste of electricity and an extra cost.
52. SUE EVERYBODY
Just Kidding - Seriously don't become a serial court junkie, put that lawyer away!
53. Use Rewards Schemes
Use them smart and use them often to receive either savings or bonus products but don't shop somewhere expensive just to gain 10 points worth around 12 cents.
54. Board games
A cheap and entertaining alternative to expensive video games.
55. Buyers Clubs
Making large purchasers with other consumers can entitle you to sizable discounts. Some buyers clubs organize purchases for you and some are better than others so research is recommended.
56. Home Cafe
Have coffee at home and avoid paying those high coffee house prices - this one action can save you $1500 a year if you are an avid coffee drinker.
57. Movie Treats
Take your own sweet treats to the movie theaters and you'll save a lot on the price of movie theater candy.
58. Free Newspaper
Visit the library to read the newspapers and you can save a dollar a day.
59. Avoid Small Stores
Friendly, personal service comes with a price tag and often a high price tag so try to shop at cheaper larger stores.
60. Look Low
When shopping look low for the cheapest deals as the eye level products are always the most expensive.
61. Never Shop Hungry
People who shop on an empty stomach buy more than they need and they also buy excess junk food.
62. Contain Your Impulses
Impulse buying often leads to buyers regret and smaller bank balances.
63. Be Strategic
When shopping online be very strategic and thorough to find the best deals. Look for minimal postage costs and weigh up the convenience-cost factors.
64. Record Movies
Record Television movies during the week to have a good supply for the weekend and save money on d.v.d rentals.
65. Don't Buy Travel Books
You probably can find all the information online and print out anything of value.
66. Make Use Of Birthdays
Many restaurants offer free meals to the birthday recipient, so be sure to cash in on these type of offers, but don't proceed to have 5 birthdays this week - it's poor form.
67. Wash Your Car
Wash it yourself and save $15 on a 10 minute drive thru car wash, you(probably) don't earn $90 an hour so don't pay that for a car wash.
68. Change Money At A Bank
When converting foreign currency do it at a bank as the kiosks usually have worse rates.
69. Monitor Fuel Prices
Some towns/cities have fuel updates on the radio and some even have websites dedicated to highlighting the cheapest fuel at gas stations. Keep an eye out for the cheapest fuel near you.
70. Happy Hour
If you are going to drink then drink during happy hour - but don't get too happy.
71. House Swapping Vacations
Don't pay for a hotel in another city when you can swap houses with someone else and have a super cheap vacation away - Without the hefty price tag.
72. Off Peak Rates
If you want to stay in a hotel then try to go in off peak times to save money on costs.
73. Insulate
Keep your home well insulated to save money on both heating and cooling costs.
74. Only Wash Large Loads
This goes for both clothes washing and dish washing - Only wash big full loads to increase your energy efficiency.
75. Take Shorter Showers
Reduce the time you spend in the shower or shower with someone else to reduce heating costs.
76. Drop Call Waiting
Get rid off it if it costs you money - most of us don't need it, so drop it unless it's free.
77. Change Your Own Oil Filter
It's easy to do and you will save at least $25. Instructions can be found on the internet.
78. Clean Your Own Carpet
Do-it-yourself, hire a machine and clean your own carpets - You might even do a more thorough job.
79. Mow Your Own Lawns
Get some exercise and save money at the same time.
80. Evaluate Your Need For Cable T.V
At the very least cancel the channels that you don't watch but also evaluate your need for pay T.V at all.
81. Keep An Eye On Ebay
From time to time you can find gift vouchers for sale at a fraction of the cost. Some vouchers may be redeemable at the supermarket which means if you manage to find a $50 voucher for $25 you can save $25 of your groceries.
82. Use Email
Instead of the post or sms or phone - Use email, it's free and convenient.
83. Buy White Sheets
They last for an eternity and if they get stained you can always just bleach them.
84. Cider Vinegar
Cider Vinegar is a cheap alternative to cleaning products as it has multiple uses and is effective.
85. Cheap Tuesday
Cheapskate Tuesday or tightwad Tuesday - It doesn't matter what you call it, you can save money on this "el cheapo" day.
Stores try to boost their midweek sales by offering great deals, so be vigilant in finding them but also be discerning.
86. Find Instruction Websites
Use websites to find free information that can save you money such as "how to" style sites
87. Post Easter Chocolate
If your a chocolate lover then the time to purchase a yearly supply is directly after Easter when both shops have a chocolate surplus and customers are sick of the sight of chocolate.
88. Pay Bills On time
Late fees are a pointless expense especially if you have just procrastinated and left it too late. PAY ON TIME and avoid penalties.
89. Avoid Vending Machines
They have pretty lights and tasty snacks and the child within us just loves them but they are always expensive and usually unhealthy.
B.Y.O
If a restaurant allows you to bring in your own beverages then do so because you will skip having to pay "restaurant" drink prices.
91. Beware Bottled Water
Be aware that a lot of the bottled water for sale is straight out of a hose and is neither spring water nor filtered, so be educated if you are going to spend $4 for hose water.
92. Watch Out On Extended Warranties
All good products should have a reasonable warranty, but many stores will try and sell you a an expensive extended warranty - Be very careful of these deals as the replacement value will drop every year and may be cheaper than a warranty.
For example if you purchase a sofa for $600 and they offer you an extended 5yr warranty for an additional $120 then the total cost is $720, in 5yrs time a replacement might only cost $300 and you may receive $100 for your second-hand sofa, so the $120 was a pointless expense - These things need to weighed up before purchases that are unique to your individual situation.
93. Refill Your Own Ink
Buy an ink cartridge kit to save replacing them at a premium cost.
94. Listen To Songs Free
There are many public domain songs on you tube and other social sites, many new bands have free downloads of their music to gain a following, take advantage of these legal free gifts.
95. Make Your Own Popcorn
Buy loose popcorn and microwave in a large bowl and save 500% on packet popcorn costs.
96. Try A VOIP Type Service
These services enable you to make cheap phone calls using your internet connection.
97. Visit The Markets
Fresh produce markets are a great way to find seasonable goods at wholesale prices.
98. Why Buy Magazines?
The internet has all the gossip and pictures of celebrities that you could ever hope for.
99. Watch Ebay For Bargains
Every now and then genuine bargains come around and you have to be aware to take advantage of them
100. Careful Of Automatic Tellers
Be sure to draw money out of your bank's branded A.T.M to avoid paying excess fees and always count withdrawn money before you walk away from the machine so the camera can see if there is a case of you receiving the wrong amount.
101. Make Your Own Ice Cream
The Yummiest money saving tip of all and it's so easy to do. Even If you don't have an ice cream maker all you need is a bowl of ice and a metal bowl and you can stir the mixture as it freezes. The best part is you can create your own delicious flavors - even completely oddball ones like peanut butter-mint or orange-berry-bubblegum ???????? - Enjoy.
In Conclusion
If you look around your home you will probably find many areas in which you can trim the excess expenditure and save money. Never make careless purchases and do your utmost to become an educated-consumer. By saving some cash you can build wealth for the future.
Hopefully you've learned how to save more money with our saving money tips
101 Tips To Save money by Darius H Clements
Saving on purchases is a great way to build up your personal wealth. If you spend time to investigate these possibilities then you may find many dollars you can save without even having to compromise.
These saving money tips should help you learn how to save more money.
1. Free Stuff
Enter rewards programs to get free stuff, but be discerning some schemes don't offer anything you want and some you have to spend too much to receive a reward. Just go with the ones that give you points for spending on what you normally would purchase.
2. Banks
Check the banks for a different interest rates for both savings and loans. Don't just go with anyone go with anyone, get the best rates possible.
3. Sell Sell Sell
Everybody has unwanted goods lying around their home gathering dust - Well, you might as well sell them and with the cash you get you can invest for the future.
4. Budget
The first way to save money is to identify what you have to spend and what your weekly costs are. Budgets aren't boring, saving hard earn cash can be exciting when you have a long term plan.
Budgeting your money and controlling your spending is the first step towards saving more money.
5. Eat At Home
Stop eating out and start eating at home you will save a lot this way and you will know what is in the food. Help save money by preparing your food at home and creating fresh food.
6. Haggle Existing Loans
Threaten to take your business elsewhere and you'd be surprised how flexible lending institutes can be.
7. Repair Things
Repair your goods before they become very expensive to replace. Wait too long and it may cost you dearly.
8. Quit Vices
Quit smoking and other vices that not only hurt your health, but they also cost your a lot of cash in the long run.
9. Leave Your Money At Home
Don't take your wallet or purse with you when you go window shopping. At worst take a few dollars with you but leave the plastic at home.
10. Buy Generic
Often generic brands are equal in quality to their higher priced competition. Buy Generic and save cash. One of the classic strategies to save money
11. Bake A Cake
Actually, bake anything you want - The more the better - cakes, bread and cookies they taste better too.
12. Evaluate Grocery Items
Are the items you buy useful? Don't just buy from habit, make educated product comparisons and you will save money in the long run.
13. Make Large Meals And Freeze leftovers
By making extra you can save on waste and avoid extra electricity costs.
14. Pack Your Own Lunch
Don't buy lunch every day or you'll rack up the costs when you could save money by making lunch yourself.
15. Buy A Slow Cooker
Having a slow cooker means you can use cheaper cuts of meat and still have tender, delicious meals.
16. Home Brew
Make your own beer it's fun and you will save a lot of money.
17. Use Power Saving Appliances
Keep your power bills down by using energy saving appliances.
18. Buy Goods In Bulk
Bulk buy stores are great just don't buy too much or you may just end up throwing food away.
19. Pay Bills Online
Why drive to the store to pay bills when you can save fuel and pay online.
20. Buy A Home Gym
You will save money on gym fees in no time.
21. Rent Library Books
Why pay $30 for a book you will only read once? - Rent books from the library and save money.
22. Use A Cheaper Razor
Expensive razors don't necessarily do a better job than the far less expensive kind.
23. Consolidate Your Debt
If you can consolidate your debt to save money then you should do so immediately.
24. Carpool
Save money on fuel and save the environment by carpooling with colleagues.
25. Grow Your Own
If you can grow your own fruit and vegetables then you should give it a try because you can benefit from delicious organic produce and save money. Many people start out using this as one of their favorite strategies to save money. Maybe you will too?
26. Use Less Make Up
Don't use make up at least two days a week and you will save over 25% on make up costs.
27. Use The Internet
Find instructions off the internet and make as many repairs as you possibly can and you'll avoid having to hire costly experts.
28. Read Junk mail
If you can handle the temptation then look through your advertising mail for specials and coupons that can save you moolah.
29. Stay Healthy
Exercise and eat right because healthier people have lower medical expenses - It must be true then that healthier = wealthier.....Maybe?
30. Maintain Your Vehicle
Pump up your tires and clean your air filter to increase fuel efficiency and you'll save money on rising fuel costs.
31. Barter/Bargain/Haggle
If you try to bargain down every single purchase you make then you will save a phenomenal amount of money. You won't believe how successful a little haggling can be.
32. Use Energy Saving Light Bulbs
Save money on energy costs.
33. Turn Off The Lights
Create a little ambience and save energy. Never leave the light on when you leave a room.
34. Second Hand
Don't be afraid to investigate the savings you can reap from buying previously owned goods, you can pick up great deals if you are prepared to spend the time searching.
35. Fix It Now
Don't let things that need repairing disintegrate further, be pro-active and fix them now before it ends up costing you dearly.
36. Find Free Activities
If the best things in life are free then you can look forward to a world of possibilities. Parks, beaches, mountains and country sides offer a variety of locations to enjoy the great outdoors and the best part is most outdoor activities are good for your physical health.
37. Style Your own Hair
This doesn't have to mean you just do your own, you can cut your whole families hair and save money. You can style a friends hair and let them style yours in return.
38. Pack A Drink
Pack a drink whenever you intend to go somewhere and avoid having to pay $4 for a bottle of water from a convenience store. Convenience stores may have convenient locations but the prices are usually anything but.
39. Drive Smarter
Speeding burns more fuel so be a smarter driver and reduce over accelerating and braking to maximize efficient driving.
40. Net Coupons
Use the internet to find coupons online and you will save money, but be careful to only purchase products that you would otherwise buy regardless of the discount.
41. Camping Vacations
Go camping for your next vacation and you'll save money on those exorbitant hotel fees and get in touch with nature at the same time - camping makes for a great family vacation.
42. Turn Off Appliances
Appliances can use electricity even when you're not using them so turn them off at the wall to save on your energy bill. It's an energy saving strategy and its one of the best strategies to save money.
43. Have A Loose Change Jar
Never spend coins! - Only ever break notes and when you receive change, put it in a loose change jar and you will amass a nice little nest egg.
44. Maximize Your Tax
Leave no stone unturned in the quest to maximize your tax benefits. Seeking professional help is always a good step to find out the information you need to keep as much of you hard earned money as you can.
45. Bike
Leave the car at home and bike to work you'll fatten your bank balance while you shrink your waistline.
46. Use Your Computer
Make birthday cards, photos and anything you can to utilize your computer's money saving functions.
47. Know Your Supermarket
Find out when your supermarket reduces perishable items and be sure to visit during these "cheaper" times to purchase your milk and bread.
48. Bundle Your Phone
If you can get a good phone deal then it may be worth bundling your land line, cellphone/mobile and your internet connection to save money.
49. Clean Your Dryer
Clean the filter in your clothes dryer and your dryer will be more energy efficient and it wont catch fire and burn the house down....YAY!
50. Bundle Your Insurance
If and only if you can get a good deal you should bundle your collective insurances with one company to receive maximum savings.
Half Way Point
I hope you're enjoying all these tips on how to save money
Grab a glass of drink (inexpensive preferably) and get ready for some more.
51. Never boil a full kettle
Why boil a full jug of water for just one cup? - A waste of electricity and an extra cost.
52. SUE EVERYBODY
Just Kidding - Seriously don't become a serial court junkie, put that lawyer away!
53. Use Rewards Schemes
Use them smart and use them often to receive either savings or bonus products but don't shop somewhere expensive just to gain 10 points worth around 12 cents.
54. Board games
A cheap and entertaining alternative to expensive video games.
55. Buyers Clubs
Making large purchasers with other consumers can entitle you to sizable discounts. Some buyers clubs organize purchases for you and some are better than others so research is recommended.
56. Home Cafe
Have coffee at home and avoid paying those high coffee house prices - this one action can save you $1500 a year if you are an avid coffee drinker.
57. Movie Treats
Take your own sweet treats to the movie theaters and you'll save a lot on the price of movie theater candy.
58. Free Newspaper
Visit the library to read the newspapers and you can save a dollar a day.
59. Avoid Small Stores
Friendly, personal service comes with a price tag and often a high price tag so try to shop at cheaper larger stores.
60. Look Low
When shopping look low for the cheapest deals as the eye level products are always the most expensive.
61. Never Shop Hungry
People who shop on an empty stomach buy more than they need and they also buy excess junk food.
62. Contain Your Impulses
Impulse buying often leads to buyers regret and smaller bank balances.
63. Be Strategic
When shopping online be very strategic and thorough to find the best deals. Look for minimal postage costs and weigh up the convenience-cost factors.
64. Record Movies
Record Television movies during the week to have a good supply for the weekend and save money on d.v.d rentals.
65. Don't Buy Travel Books
You probably can find all the information online and print out anything of value.
66. Make Use Of Birthdays
Many restaurants offer free meals to the birthday recipient, so be sure to cash in on these type of offers, but don't proceed to have 5 birthdays this week - it's poor form.
67. Wash Your Car
Wash it yourself and save $15 on a 10 minute drive thru car wash, you(probably) don't earn $90 an hour so don't pay that for a car wash.
68. Change Money At A Bank
When converting foreign currency do it at a bank as the kiosks usually have worse rates.
69. Monitor Fuel Prices
Some towns/cities have fuel updates on the radio and some even have websites dedicated to highlighting the cheapest fuel at gas stations. Keep an eye out for the cheapest fuel near you.
70. Happy Hour
If you are going to drink then drink during happy hour - but don't get too happy.
71. House Swapping Vacations
Don't pay for a hotel in another city when you can swap houses with someone else and have a super cheap vacation away - Without the hefty price tag.
72. Off Peak Rates
If you want to stay in a hotel then try to go in off peak times to save money on costs.
73. Insulate
Keep your home well insulated to save money on both heating and cooling costs.
74. Only Wash Large Loads
This goes for both clothes washing and dish washing - Only wash big full loads to increase your energy efficiency.
75. Take Shorter Showers
Reduce the time you spend in the shower or shower with someone else to reduce heating costs.
76. Drop Call Waiting
Get rid off it if it costs you money - most of us don't need it, so drop it unless it's free.
77. Change Your Own Oil Filter
It's easy to do and you will save at least $25. Instructions can be found on the internet.
78. Clean Your Own Carpet
Do-it-yourself, hire a machine and clean your own carpets - You might even do a more thorough job.
79. Mow Your Own Lawns
Get some exercise and save money at the same time.
80. Evaluate Your Need For Cable T.V
At the very least cancel the channels that you don't watch but also evaluate your need for pay T.V at all.
81. Keep An Eye On Ebay
From time to time you can find gift vouchers for sale at a fraction of the cost. Some vouchers may be redeemable at the supermarket which means if you manage to find a $50 voucher for $25 you can save $25 of your groceries.
82. Use Email
Instead of the post or sms or phone - Use email, it's free and convenient.
83. Buy White Sheets
They last for an eternity and if they get stained you can always just bleach them.
84. Cider Vinegar
Cider Vinegar is a cheap alternative to cleaning products as it has multiple uses and is effective.
85. Cheap Tuesday
Cheapskate Tuesday or tightwad Tuesday - It doesn't matter what you call it, you can save money on this "el cheapo" day.
Stores try to boost their midweek sales by offering great deals, so be vigilant in finding them but also be discerning.
86. Find Instruction Websites
Use websites to find free information that can save you money such as "how to" style sites
87. Post Easter Chocolate
If your a chocolate lover then the time to purchase a yearly supply is directly after Easter when both shops have a chocolate surplus and customers are sick of the sight of chocolate.
88. Pay Bills On time
Late fees are a pointless expense especially if you have just procrastinated and left it too late. PAY ON TIME and avoid penalties.
89. Avoid Vending Machines
They have pretty lights and tasty snacks and the child within us just loves them but they are always expensive and usually unhealthy.
B.Y.O
If a restaurant allows you to bring in your own beverages then do so because you will skip having to pay "restaurant" drink prices.
91. Beware Bottled Water
Be aware that a lot of the bottled water for sale is straight out of a hose and is neither spring water nor filtered, so be educated if you are going to spend $4 for hose water.
92. Watch Out On Extended Warranties
All good products should have a reasonable warranty, but many stores will try and sell you a an expensive extended warranty - Be very careful of these deals as the replacement value will drop every year and may be cheaper than a warranty.
For example if you purchase a sofa for $600 and they offer you an extended 5yr warranty for an additional $120 then the total cost is $720, in 5yrs time a replacement might only cost $300 and you may receive $100 for your second-hand sofa, so the $120 was a pointless expense - These things need to weighed up before purchases that are unique to your individual situation.
93. Refill Your Own Ink
Buy an ink cartridge kit to save replacing them at a premium cost.
94. Listen To Songs Free
There are many public domain songs on you tube and other social sites, many new bands have free downloads of their music to gain a following, take advantage of these legal free gifts.
95. Make Your Own Popcorn
Buy loose popcorn and microwave in a large bowl and save 500% on packet popcorn costs.
96. Try A VOIP Type Service
These services enable you to make cheap phone calls using your internet connection.
97. Visit The Markets
Fresh produce markets are a great way to find seasonable goods at wholesale prices.
98. Why Buy Magazines?
The internet has all the gossip and pictures of celebrities that you could ever hope for.
99. Watch Ebay For Bargains
Every now and then genuine bargains come around and you have to be aware to take advantage of them
100. Careful Of Automatic Tellers
Be sure to draw money out of your bank's branded A.T.M to avoid paying excess fees and always count withdrawn money before you walk away from the machine so the camera can see if there is a case of you receiving the wrong amount.
101. Make Your Own Ice Cream
The Yummiest money saving tip of all and it's so easy to do. Even If you don't have an ice cream maker all you need is a bowl of ice and a metal bowl and you can stir the mixture as it freezes. The best part is you can create your own delicious flavors - even completely oddball ones like peanut butter-mint or orange-berry-bubblegum ???????? - Enjoy.
In Conclusion
If you look around your home you will probably find many areas in which you can trim the excess expenditure and save money. Never make careless purchases and do your utmost to become an educated-consumer. By saving some cash you can build wealth for the future.
Hopefully you've learned how to save more money with our saving money tips
101 Tips To Save money by Darius H Clements
The Power of Compounding
No matter what sour situation in life an intimate relationship is a powerful force that can ultimately determine the level of happiness and joy we experience each day. If you've ever been in a relationship that is truly magnificent you know that just like any other area of life it must be created by learning understanding and doing things that bring out the best in you and your partner. Having worked with more than 3 million people from 80 countries over the past three decades Anthony Robbins has discovered the awesome potential our relationships have to impact our lives. That's why he and his wife Sage have created Love & Passion. This program was designed to help you create or rekindle passion and reach astounding levels of intimacy in your most vital relationship!
Wednesday, November 24, 2010
ONCE UPON A COW
Eliminating Excuses and Settling for Nothing but Success
Since the “Who Moved my Cheese?” and the “Seven Habits of Highly Effective People” training series, no seminar has empowered people and organizations as much as Dr. Cruz’s Once Upon a Cow. In a time when we seem to be unwilling to settle for anything but success, many executives, salespeople and entrepreneurs alike seem to have succumbed to an epidemic of excuses, rationalizations, fears, and false beliefs. Ironically, one of the biggest challenges for many of them is, in fact, overcoming their self-imposed limitations on their true potential and ability to succeed.
Excuses and justifications condition people’s lives and limit every area of their personal, professional and business life. In Dr. Camilo Cruz’s bestseller Once Upon a Cow, the Cow represents every excuse, fear, rationalization and pretext that keeps people bound to a life of mediocrity, preventing them from achieving what they want, and keeping them from using their talents to build successful careers and businesses.
The real enemy of success isn’t failure, as some of us may think, but mediocrity—the idea that we can “just get by.” This seminar is designed to help each person in the audience identify the Cows that limit their personal and professional success, providing a specific strategy to eliminate them. Unless people get rid of their own Cows, they won’t develop confidence in their true potential.
Participants learn to focus on their strengths instead of dwelling on their shortcomings. They will develop the mental attitude needed to transform dreams into goals and goals into action. When people learn to set goals and overcome the obstacles to achieving them, they are infused with the desire to pursue more ambitious results. Groups emerge reenergized and those who have reached a plateau return with renewed motivation.
Skills imparted include:
Living an excuse-free life and teaching others to do the same
Overcoming rejection and learning from our failures
How to get outstanding results in sales and customer service
Eliminating the biggest enemy of success in business: mediocrity!
How to create a high level of motivation in your organization
Since the “Who Moved my Cheese?” and the “Seven Habits of Highly Effective People” training series, no seminar has empowered people and organizations as much as Dr. Cruz’s Once Upon a Cow. In a time when we seem to be unwilling to settle for anything but success, many executives, salespeople and entrepreneurs alike seem to have succumbed to an epidemic of excuses, rationalizations, fears, and false beliefs. Ironically, one of the biggest challenges for many of them is, in fact, overcoming their self-imposed limitations on their true potential and ability to succeed.
Excuses and justifications condition people’s lives and limit every area of their personal, professional and business life. In Dr. Camilo Cruz’s bestseller Once Upon a Cow, the Cow represents every excuse, fear, rationalization and pretext that keeps people bound to a life of mediocrity, preventing them from achieving what they want, and keeping them from using their talents to build successful careers and businesses.
The real enemy of success isn’t failure, as some of us may think, but mediocrity—the idea that we can “just get by.” This seminar is designed to help each person in the audience identify the Cows that limit their personal and professional success, providing a specific strategy to eliminate them. Unless people get rid of their own Cows, they won’t develop confidence in their true potential.
Participants learn to focus on their strengths instead of dwelling on their shortcomings. They will develop the mental attitude needed to transform dreams into goals and goals into action. When people learn to set goals and overcome the obstacles to achieving them, they are infused with the desire to pursue more ambitious results. Groups emerge reenergized and those who have reached a plateau return with renewed motivation.
Skills imparted include:
Living an excuse-free life and teaching others to do the same
Overcoming rejection and learning from our failures
How to get outstanding results in sales and customer service
Eliminating the biggest enemy of success in business: mediocrity!
How to create a high level of motivation in your organization
Planning your Retirement
Even if you're close to retirement and haven't saved at all, late is better than never. Whether you're 30 or twice that, these 18 tips can help put your finances in order before you leave the workplace.
It's never too early to start saving for retirement -- and never too late.
Starting early is better. You'll give your retirement funds more time to grow and hedge your savings against future upsets. One study found that six out of 10 people in their 50s and 60s experience a job loss, illness or other income-shattering calamity.
If you need even more incentive to save, consider this: Though most workers feel confident about their retirement, many don't have enough money set aside to pay for it.
Fifty-three percent of workers in their 30s have workplace retirement plans or
individual retirement accounts (IRAs) with a median value of $17,000.
By their 40s, 59% of Americans have retirement funds, with a median value of $40,000.
Two-thirds of workers age 55 or older have less than $100,000 in their retirement accounts, far from adequate when experts recommend you draw no more than 4% or 5% a year from your accounts once you quit working.
Scarier yet: About 60% of retirees 65 and older get the bulk of their retirement income from Social Security, and the average payment is about $1,150 a month.
Start today
Be realistic about your retirement needs and set a goal. Experts recommend you sock away at least 10% of your gross income each year for retirement. Retirees generally need at least 75% of their previous income to continue their standard of living (more if they want to travel or indulge expensive hobbies). Social Security now replaces about a third of pre-retirement income, but that amount will decline in the future.
How much will you need to save? Learn about your magic number.
Pay off your credit cards.
If you're behind, one way to catch up is to reduce your spending to 60% of your gross income to build savings and retirement funds. (See "A simpler way to save: The 60% solution.")
Take advantage of your workplace 401k or similar plan and save at least enough to get the full match from your employer. Don't be tempted to withdraw your money before age 59-1/2; you'll pay a 10% penalty and miss out on future earnings.
Know your options
The number of employers that provide traditional pension plans is steadily declining, so most people save for retirement with 401k's and/or IRAs.
401k's allow you to save up to about $16,500 a year in 2009 (the amount increases each year by an index tied to inflation) in pretax income. If you're older than 50, that ceiling is much higher: $22,000. You won't pay taxes until you start drawing on the money. Most employers will match a portion of your contribution. Similar plans exist for employees of small businesses and nonprofits, the self-employed and public employees.
You can place up to $5,000 in pretax money a year into an IRA ($6,000 if you're over 50).
Other savings options are Roth 401k's and Roth IRAs, which allow you to save taxed income and withdraw the earnings tax-free. Roths are preferred by people who anticipate being in a higher tax bracket when they retire or want their heirs to get the money tax-free.
Don't neglect the details
Once you've begun growing your retirement money, take stock of your investments every year and rebalance them as needed.
Do you have the right asset allocation for your age, income expectations and risk tolerance? Adjust accordingly. Many financial advisers say you should keep at least 80% in stock funds. Don't put all of your money in one basket.
Prepare for the inevitable: Make a list of your assets, including brokerage accounts, employer retirement plans, bank accounts and life insurance, and make sure it's easily found in case you die.
Keep your list of beneficiaries up to date.
Have a durable power of attorney for health care and finances, a traditional will and a living will.
Read this retirement checklist to make sure you're on track.
You can see it from here
When you hit your 60s, focus on the reality of retirement.
Pick a date. Then you can realistically figure out if you have the money to make it happen. If not, adjust the date or make other choices.
Next, decide where you will be living. It's a huge factor in determining how much money you will need.
Research long-term-care insurance.
Prepare a budget, including a healthy chunk for medical expenses.
Consider using some of your assets to purchase an annuity or longevity insurance to guarantee a monthly check for life.
Get professional advice from a fee-only financial planner committed to a fiduciary standard.
Don't panic -- you still have options
What if you're short of your goal?
Many retirement plans have been sabotaged by the recession. Now more than ever, you need a game plan.
Downsize to a less expensive residence.
Borrow the equity in your home with a reverse mortgage.
Delay drawing on Social Security. Your monthly check will be larger when you finally collect.
Keep working -- if you are able. After age 65, 38% of men and 42% of women have some sort of disability.
It's never too early to start saving for retirement -- and never too late.
Starting early is better. You'll give your retirement funds more time to grow and hedge your savings against future upsets. One study found that six out of 10 people in their 50s and 60s experience a job loss, illness or other income-shattering calamity.
If you need even more incentive to save, consider this: Though most workers feel confident about their retirement, many don't have enough money set aside to pay for it.
Fifty-three percent of workers in their 30s have workplace retirement plans or
individual retirement accounts (IRAs) with a median value of $17,000.
By their 40s, 59% of Americans have retirement funds, with a median value of $40,000.
Two-thirds of workers age 55 or older have less than $100,000 in their retirement accounts, far from adequate when experts recommend you draw no more than 4% or 5% a year from your accounts once you quit working.
Scarier yet: About 60% of retirees 65 and older get the bulk of their retirement income from Social Security, and the average payment is about $1,150 a month.
Start today
Be realistic about your retirement needs and set a goal. Experts recommend you sock away at least 10% of your gross income each year for retirement. Retirees generally need at least 75% of their previous income to continue their standard of living (more if they want to travel or indulge expensive hobbies). Social Security now replaces about a third of pre-retirement income, but that amount will decline in the future.
How much will you need to save? Learn about your magic number.
Pay off your credit cards.
If you're behind, one way to catch up is to reduce your spending to 60% of your gross income to build savings and retirement funds. (See "A simpler way to save: The 60% solution.")
Take advantage of your workplace 401k or similar plan and save at least enough to get the full match from your employer. Don't be tempted to withdraw your money before age 59-1/2; you'll pay a 10% penalty and miss out on future earnings.
Know your options
The number of employers that provide traditional pension plans is steadily declining, so most people save for retirement with 401k's and/or IRAs.
401k's allow you to save up to about $16,500 a year in 2009 (the amount increases each year by an index tied to inflation) in pretax income. If you're older than 50, that ceiling is much higher: $22,000. You won't pay taxes until you start drawing on the money. Most employers will match a portion of your contribution. Similar plans exist for employees of small businesses and nonprofits, the self-employed and public employees.
You can place up to $5,000 in pretax money a year into an IRA ($6,000 if you're over 50).
Other savings options are Roth 401k's and Roth IRAs, which allow you to save taxed income and withdraw the earnings tax-free. Roths are preferred by people who anticipate being in a higher tax bracket when they retire or want their heirs to get the money tax-free.
Don't neglect the details
Once you've begun growing your retirement money, take stock of your investments every year and rebalance them as needed.
Do you have the right asset allocation for your age, income expectations and risk tolerance? Adjust accordingly. Many financial advisers say you should keep at least 80% in stock funds. Don't put all of your money in one basket.
Prepare for the inevitable: Make a list of your assets, including brokerage accounts, employer retirement plans, bank accounts and life insurance, and make sure it's easily found in case you die.
Keep your list of beneficiaries up to date.
Have a durable power of attorney for health care and finances, a traditional will and a living will.
Read this retirement checklist to make sure you're on track.
You can see it from here
When you hit your 60s, focus on the reality of retirement.
Pick a date. Then you can realistically figure out if you have the money to make it happen. If not, adjust the date or make other choices.
Next, decide where you will be living. It's a huge factor in determining how much money you will need.
Research long-term-care insurance.
Prepare a budget, including a healthy chunk for medical expenses.
Consider using some of your assets to purchase an annuity or longevity insurance to guarantee a monthly check for life.
Get professional advice from a fee-only financial planner committed to a fiduciary standard.
Don't panic -- you still have options
What if you're short of your goal?
Many retirement plans have been sabotaged by the recession. Now more than ever, you need a game plan.
Downsize to a less expensive residence.
Borrow the equity in your home with a reverse mortgage.
Delay drawing on Social Security. Your monthly check will be larger when you finally collect.
Keep working -- if you are able. After age 65, 38% of men and 42% of women have some sort of disability.
Tuesday, November 23, 2010
Pursuit of Happyness by Chris Gardner - Book Review
Chris Gardner went from an impoverished childhood to become a wealthy stock broker and entrepreneur, and managed to juggle single fatherhood before it was culturally accepted. His memoir, Pursuit of Happyness, spends a lot of time recounting that difficult childhood and his transition to the military and to time spent working in medicine. The story picks up more speed two-thirds of the way through, when Gardner is living in San Francisco determined to raise his son and succeed as a stockbroker, despite having never gone to college.
Gardner’s message can seem inconsistent. On the one hand, he was moved by his own troubled childhood to vow that he would be a good father to his children. On the other hand, a flashy red Ferrari caught his eye one day, prompting him to adopt the goal of becoming a stock broker in order to earn enough money to buy his own Ferrari. The two goals aren’t incompatible, of course, but Gardner doesn’t mention any tension he may have felt between his selfless love for his son and his more superficial-seeming financial goals.
Any self-reflection present in Gardner’s story seems to be mostly the self-reflection of a motivational speaker, which Gardner has become. There is much discussion of working hard to overcome the paucity of other African-Americans on Wall Street, not to mention Gardner’s lack of a college degree. The Pursuit of Happyness makes for an enjoyable story, and an inspiring one, but leaves the reader looking for something more.
Gardner’s message can seem inconsistent. On the one hand, he was moved by his own troubled childhood to vow that he would be a good father to his children. On the other hand, a flashy red Ferrari caught his eye one day, prompting him to adopt the goal of becoming a stock broker in order to earn enough money to buy his own Ferrari. The two goals aren’t incompatible, of course, but Gardner doesn’t mention any tension he may have felt between his selfless love for his son and his more superficial-seeming financial goals.
Any self-reflection present in Gardner’s story seems to be mostly the self-reflection of a motivational speaker, which Gardner has become. There is much discussion of working hard to overcome the paucity of other African-Americans on Wall Street, not to mention Gardner’s lack of a college degree. The Pursuit of Happyness makes for an enjoyable story, and an inspiring one, but leaves the reader looking for something more.
Monday, November 22, 2010
20+ Ways to Get Rid of Your Debt for Good
1.Stop adding more debt: No kidding right? Well, if it's so simple why aren't you doing it? Think of your debt as a small hill of dirt in your back yard. To get rid of that dirt hill, you need to dig out a shovel at a time. Now imagine for every 2-3 shovels of dirt that you dig out, you toss 4 shovels back on. How long will it take to get rid of that little hill? Piling on more debt while you are trying to get out of it doesn’t make much sense either.
2.Get rid of your credit cards: One of the biggest down falls that most of us have is the reliance on credit cards. Unlike spending real cash, when you charge it to a card you don’t feel the burn. So if you cannot control how much you spend on your card, then cut up your cards, leave them locked up at home, freeze them or bury them until you are out of debt. (Note: Don’t close the accounts since that can result in reducing your credit score!)
When I was in college, I went a little wild with student credit cards. I learned the hard way that I needed some control, so I froze the cards in a large pan of water. If I wanted or needed something badly enough to wait for the cards to thaw out, then it was probably worth purchasing. If not, I saved the dough. My mom still laughs about this, but I saved thousands in forgone impulse purchases. -- Kelly Colucci, Cumming, Ga. - quote source: Kiplinger
3.Change your attitude: Like everything else in life, getting out of debt is heavily dependent on your attitude. Switch to a “Can Do” attitude. Stop giving into the victim mentality or self-doubts of whether you can do it. Start attacking debt and don’t stop until its all gone
4.Stay busy: An idle mind is a devil’s work shop and a retailer's dream. If you go to the mall just because you are bored, you are bound to end up buying stuff you likely don’t need. If you laze in front of the TV doing nothing, then the advertisers are bound to instill a yearning for something that you wouldn’t have wanted otherwise. Throwing away money to keep yourself entertained when you could be using that time a lot more productively just won’t cut it if you are serious about getting out of debt.
5.Change your spending habits: Do you always plan before you buy something or do you just pick things up? Do you ask yourself if you really “need” it, or justify your “wants” and keep indulging yourself? Do you spend an excessive amount of money on showing off to your friends? Take a long hard look at your spending habits and fix any short comings that you see.
6.Cut your spending: Can you still save some money after all of your bills are paid? For instance when you look at your groceries, can you replace some brands with generics so you can save some cash? Can you stock up during sales to save some money? How about making sure you use your utilities wisely to save on water, electricity and gas bill? Look at all aspects of your spending to pinch some more money out that you can throw at debt.
7.Embrace a simple, frugal lifestyle: We are in a land of excess. We believe that we need a lot of things to survive. But in reality we can get on by with very little. The more of the excesses you can trim out the sooner you will be out of debt. Yes, life will seem a bit drab without some of the indulgences you are used to. It’s your call which one you like more – temporary indulgences and sleepless nights worrying over debt, or a few sacrifices now to be free of debt issues for the rest of your life!
8.Always lookout to improve your current income: The more the money you make, the more you will have left over to throw at your debt. So always look for opportunities for picking up tasks with higher commission, or over time pay or something that will result in a bonus. Take your job seriously and work hard everyday, at some point it will pay off for you.
9.Create additional sources of income: Sometimes it is not easy to simply increase your current income at your day job. If that's the case, look at means to create additional sources of income. Do you have a hobby that you can monetize? Do you have skills (musician, carpenter, writer, etc.) that you can use to get some part time gigs? Do you have computer knowledge that you can use online? Creating additional sources of income not only helps you get out of debt but provides you with better cushion to survive through primary job loss.
10.Build an emergency fund: As you attack your debt, remember to put away a small amount for the rainy day. If something unexpected comes along or if you are forced to borrow money again, you will have a rough time getting out of debt. So stash away small amounts of money in an emergency fund, and make sure you use it – well, only for emergencies!
11.Avoid paying fees when possible: Get organized. Make sure you are paying your bills on time. There is no point in paying fees in addition to interest! Also, look out for other options where you can save on fees – for instance, going into a bank to withdraw money may seem like a hassle, but is it really worth spending $3 in ATM fees every time you withdraw money? Booking your movie tickets online may seem convenient, but is it really worth paying an extra dollar for the ticket?
12.Use balance transfers: Call up every single one of the credit card companies and ask them if they can lower your interest rate or offer you special interest on balance transfer. Repeat with all the credit cards you have, and consolidate your loans onto the cards that offer the best interest rate. Watch out for the “balance transfer fees” and make sure you are really coming out ahead. Again, do NOT close paid off credit cards because it will lower your credit score!
13.Make a budget: A budget is not really that difficult to make or follow. You don’t need fancy software or tools, just a simple notebook and pen, or a trusted spreadsheet program. List all your recurring bills like rent/mortgage, groceries, utilities, bills and put a limit on it. Then create a category for miscellaneous expenses to cover what you cannot plan for and an indulgence category. If you don’t have enough for paying towards debt, tweak and tune these categories, until you find enough.
14.Reuse and recycle: Reuse and recycle whatever you can. I never buy garbage bags. Instead I have small waste bins in my kitchen and bathrooms that I line with grocery bags. I don’t care if someone thinks that is cheap – it saves me money and is a small way to reduce my environmental footprint. So why should I bother about what snobs think. And since they are smaller waste bins, they get cleaned our more regularly, reducing the possibility of stench in the kitchen. You will be amazed at how many different places you can apply the reuse and recycle principle to save a few bucks!
15.Make your intentions public: When you start digging into your debt, make your intentions public. Say it out loud - maybe to your spouse or your family or friends. When people know that you are tackling debt, they will give you dirty looks and lectures when you slip up :) It may be an unsavory experience, but if it keeps you on track and gets you out the hole faster, why not? Maybe it will also stop them from enticing you to eat out or buy that new pair of pants!
16.Start a blog about your effort: If you are not comfortable about sharing it with the people you know, share it with strangers! The internet makes it so easy to have an anonymous public image! Use it! Create a blog and chart your progress. You can create free blogs using software like blogger - it is fairly easy and you don’t need to be tech-savvy to be able to do it. Nothing makes you obsessive about getting rid of your debt like encouragement from a bunch of strangers whom you have never met! Besides, depending on your success, you may be able to monetize your blog and make it an additional source of income. Here are a few blogs to get you started Blogging Away Debt, No Credit Needed, The Simple Dollar. A simple search for “blog debt” on Google will show you many more if you are interested.
17.Surround yourself with the right type of people: If you are surrounded by people who keep spending, then it is difficult to get out of the consumerist mentality and slip into the more sensible mentality of living within your means. This may mean changing friends or keeping your distance from those that influence you negatively. It is a very difficult tip to follow, but a necessary one, if you want to really get out of debt.
18.Move! Drastic times require drastic measures! If you are really deep into debt you might want to consider more drastic steps like moving to a city with lower cost of living, to a smaller house, to an apartment with lower rent etc.
19.If something is available for free, don’t pay for it. Throw the money at your debt instead! If you can take public transportation to get around, skip the driving. Better yet, ride your bike and get a little workout at the same time. At the end of the month you may have used one less tank of gas. Make sure you bump up your debt repayment by that amount. It may not seem like much, but over a course of time, this can add up beautifully to free you from debt a lot sooner.
20.Always pay more than the minimum payment toward your debt. If you only pay minimum payments, you will be old and gray before you pay off a the debt. Here is a calculator that shows the true cost of paying minimum. For example, if you only pay the minimum payment on a credit card loan of just $1000, at an APR of 18%, then it will take you around 13 years to pay off that debt. In that time you would have paid $1,115.41 in interest. That is more than the principal borrowed! Imagine how much worse it is with larger loans. So always try to make more than the minimum payments if you are serious about getting rid of debt.
21.Don’t hesitate to take help from loved ones: When you are down and battling with debt, if loved ones offer to help don’t hesitate to accept. This could be in cash or kind. For instance, can your mother baby sit your kids so you can save some money that is spent on daycare and apply it to your debt? Can your parents loan you some money at low or zero interest that will help you reduce the amount you pay in debt? If you are just starting out, can you move back with your parents for a few months and throw the rent money towards your debt? These may be very tough but they can save you several years of slaving to pay off your debt.
22.Make it automatic/manual: I know that’s ambiguous, but pick what works for you. If it hurts you every month to go over the bills and make the payments, then just set up automatic payments so that a fixed portion of your income goes towards paying debt. Your sole responsibility then is to make sure that your bank balance stays above the required amount and to avoid overdraft fees. On the other hand, if it gives you pleasure to watch your debt shrink and motivates you to keep at it, then make it manual. Pay your bills by yourself each month.
Ultimately, getting rid of debt is like going on a financial diet; it is not easy and the temptations to give in are high. There will be that tiny voice in your head that says, “what’s the point of money if you can’t enjoy life?” But if you are in debt, and constantly worrying about it, you are in fact enslaved to your financial miseries. Unless you make some sacrifices, it is unlikely that you will be able to get out of it. Not all of these tips will work for you, so pick what does and stick to it!
2.Get rid of your credit cards: One of the biggest down falls that most of us have is the reliance on credit cards. Unlike spending real cash, when you charge it to a card you don’t feel the burn. So if you cannot control how much you spend on your card, then cut up your cards, leave them locked up at home, freeze them or bury them until you are out of debt. (Note: Don’t close the accounts since that can result in reducing your credit score!)
When I was in college, I went a little wild with student credit cards. I learned the hard way that I needed some control, so I froze the cards in a large pan of water. If I wanted or needed something badly enough to wait for the cards to thaw out, then it was probably worth purchasing. If not, I saved the dough. My mom still laughs about this, but I saved thousands in forgone impulse purchases. -- Kelly Colucci, Cumming, Ga. - quote source: Kiplinger
3.Change your attitude: Like everything else in life, getting out of debt is heavily dependent on your attitude. Switch to a “Can Do” attitude. Stop giving into the victim mentality or self-doubts of whether you can do it. Start attacking debt and don’t stop until its all gone
4.Stay busy: An idle mind is a devil’s work shop and a retailer's dream. If you go to the mall just because you are bored, you are bound to end up buying stuff you likely don’t need. If you laze in front of the TV doing nothing, then the advertisers are bound to instill a yearning for something that you wouldn’t have wanted otherwise. Throwing away money to keep yourself entertained when you could be using that time a lot more productively just won’t cut it if you are serious about getting out of debt.
5.Change your spending habits: Do you always plan before you buy something or do you just pick things up? Do you ask yourself if you really “need” it, or justify your “wants” and keep indulging yourself? Do you spend an excessive amount of money on showing off to your friends? Take a long hard look at your spending habits and fix any short comings that you see.
6.Cut your spending: Can you still save some money after all of your bills are paid? For instance when you look at your groceries, can you replace some brands with generics so you can save some cash? Can you stock up during sales to save some money? How about making sure you use your utilities wisely to save on water, electricity and gas bill? Look at all aspects of your spending to pinch some more money out that you can throw at debt.
7.Embrace a simple, frugal lifestyle: We are in a land of excess. We believe that we need a lot of things to survive. But in reality we can get on by with very little. The more of the excesses you can trim out the sooner you will be out of debt. Yes, life will seem a bit drab without some of the indulgences you are used to. It’s your call which one you like more – temporary indulgences and sleepless nights worrying over debt, or a few sacrifices now to be free of debt issues for the rest of your life!
8.Always lookout to improve your current income: The more the money you make, the more you will have left over to throw at your debt. So always look for opportunities for picking up tasks with higher commission, or over time pay or something that will result in a bonus. Take your job seriously and work hard everyday, at some point it will pay off for you.
9.Create additional sources of income: Sometimes it is not easy to simply increase your current income at your day job. If that's the case, look at means to create additional sources of income. Do you have a hobby that you can monetize? Do you have skills (musician, carpenter, writer, etc.) that you can use to get some part time gigs? Do you have computer knowledge that you can use online? Creating additional sources of income not only helps you get out of debt but provides you with better cushion to survive through primary job loss.
10.Build an emergency fund: As you attack your debt, remember to put away a small amount for the rainy day. If something unexpected comes along or if you are forced to borrow money again, you will have a rough time getting out of debt. So stash away small amounts of money in an emergency fund, and make sure you use it – well, only for emergencies!
11.Avoid paying fees when possible: Get organized. Make sure you are paying your bills on time. There is no point in paying fees in addition to interest! Also, look out for other options where you can save on fees – for instance, going into a bank to withdraw money may seem like a hassle, but is it really worth spending $3 in ATM fees every time you withdraw money? Booking your movie tickets online may seem convenient, but is it really worth paying an extra dollar for the ticket?
12.Use balance transfers: Call up every single one of the credit card companies and ask them if they can lower your interest rate or offer you special interest on balance transfer. Repeat with all the credit cards you have, and consolidate your loans onto the cards that offer the best interest rate. Watch out for the “balance transfer fees” and make sure you are really coming out ahead. Again, do NOT close paid off credit cards because it will lower your credit score!
13.Make a budget: A budget is not really that difficult to make or follow. You don’t need fancy software or tools, just a simple notebook and pen, or a trusted spreadsheet program. List all your recurring bills like rent/mortgage, groceries, utilities, bills and put a limit on it. Then create a category for miscellaneous expenses to cover what you cannot plan for and an indulgence category. If you don’t have enough for paying towards debt, tweak and tune these categories, until you find enough.
14.Reuse and recycle: Reuse and recycle whatever you can. I never buy garbage bags. Instead I have small waste bins in my kitchen and bathrooms that I line with grocery bags. I don’t care if someone thinks that is cheap – it saves me money and is a small way to reduce my environmental footprint. So why should I bother about what snobs think. And since they are smaller waste bins, they get cleaned our more regularly, reducing the possibility of stench in the kitchen. You will be amazed at how many different places you can apply the reuse and recycle principle to save a few bucks!
15.Make your intentions public: When you start digging into your debt, make your intentions public. Say it out loud - maybe to your spouse or your family or friends. When people know that you are tackling debt, they will give you dirty looks and lectures when you slip up :) It may be an unsavory experience, but if it keeps you on track and gets you out the hole faster, why not? Maybe it will also stop them from enticing you to eat out or buy that new pair of pants!
16.Start a blog about your effort: If you are not comfortable about sharing it with the people you know, share it with strangers! The internet makes it so easy to have an anonymous public image! Use it! Create a blog and chart your progress. You can create free blogs using software like blogger - it is fairly easy and you don’t need to be tech-savvy to be able to do it. Nothing makes you obsessive about getting rid of your debt like encouragement from a bunch of strangers whom you have never met! Besides, depending on your success, you may be able to monetize your blog and make it an additional source of income. Here are a few blogs to get you started Blogging Away Debt, No Credit Needed, The Simple Dollar. A simple search for “blog debt” on Google will show you many more if you are interested.
17.Surround yourself with the right type of people: If you are surrounded by people who keep spending, then it is difficult to get out of the consumerist mentality and slip into the more sensible mentality of living within your means. This may mean changing friends or keeping your distance from those that influence you negatively. It is a very difficult tip to follow, but a necessary one, if you want to really get out of debt.
18.Move! Drastic times require drastic measures! If you are really deep into debt you might want to consider more drastic steps like moving to a city with lower cost of living, to a smaller house, to an apartment with lower rent etc.
19.If something is available for free, don’t pay for it. Throw the money at your debt instead! If you can take public transportation to get around, skip the driving. Better yet, ride your bike and get a little workout at the same time. At the end of the month you may have used one less tank of gas. Make sure you bump up your debt repayment by that amount. It may not seem like much, but over a course of time, this can add up beautifully to free you from debt a lot sooner.
20.Always pay more than the minimum payment toward your debt. If you only pay minimum payments, you will be old and gray before you pay off a the debt. Here is a calculator that shows the true cost of paying minimum. For example, if you only pay the minimum payment on a credit card loan of just $1000, at an APR of 18%, then it will take you around 13 years to pay off that debt. In that time you would have paid $1,115.41 in interest. That is more than the principal borrowed! Imagine how much worse it is with larger loans. So always try to make more than the minimum payments if you are serious about getting rid of debt.
21.Don’t hesitate to take help from loved ones: When you are down and battling with debt, if loved ones offer to help don’t hesitate to accept. This could be in cash or kind. For instance, can your mother baby sit your kids so you can save some money that is spent on daycare and apply it to your debt? Can your parents loan you some money at low or zero interest that will help you reduce the amount you pay in debt? If you are just starting out, can you move back with your parents for a few months and throw the rent money towards your debt? These may be very tough but they can save you several years of slaving to pay off your debt.
22.Make it automatic/manual: I know that’s ambiguous, but pick what works for you. If it hurts you every month to go over the bills and make the payments, then just set up automatic payments so that a fixed portion of your income goes towards paying debt. Your sole responsibility then is to make sure that your bank balance stays above the required amount and to avoid overdraft fees. On the other hand, if it gives you pleasure to watch your debt shrink and motivates you to keep at it, then make it manual. Pay your bills by yourself each month.
Ultimately, getting rid of debt is like going on a financial diet; it is not easy and the temptations to give in are high. There will be that tiny voice in your head that says, “what’s the point of money if you can’t enjoy life?” But if you are in debt, and constantly worrying about it, you are in fact enslaved to your financial miseries. Unless you make some sacrifices, it is unlikely that you will be able to get out of it. Not all of these tips will work for you, so pick what does and stick to it!
Subscribe to:
Posts (Atom)