Be on Top of your Finances
I think everyone should be very clear in handling their finances whether they are single, married or just in betwee. It is very important to have a clear visualization of homw much you have already saved up even if you are still single. Are you in debt, still in the rat race or fairly doing well? Its always a matter of personal vision though. However, how much is enough enough? Can you say you are living the life you dreamed of five years ago and not having to worry for tomorrow. Do you live a decent life, in a fairly good lifestyle and can buy just about anything your heart’s desire. I hope reading this questions somehow may want you to grab that calculator and make you think if you are doing well or still need a couple of years to save a fair amount.
I suggest you should be always on top of your finances. Scrimp on those things you think is not of much value. Cut those dining outs. Instead enjoy cooking at the comforts of your home. Prepare them with your love ones and eat together those sumptious dinner.Take a close scrutiny at your closet. Do you actually need everything in there? How many pairs of shoes do you really need in a year?Are all your pants being worn? I wonder how may of them still has those tags and not actually being decided to be use in a few weeks but have already stashed your richness in one way or another. Are you Richy rich that is itching to spend in a blink of an eye?Are you liek a whirlwind when you are in a mall sale that you actually grabbed just about anything without actually thinking of it over. Is it a need or simply a wants that would fade away in one night?Please always think of your future.Will you be the same Richy Rich after five years. Always secure your future because you never know when an emergency wil come.
Electricity…or Solar
Okay, I believe that electric power and other forms of help for living are ones that should not be abused. In the case of electric companies (whichever yours may be), I doubt very seriously that is happening.
So, here’s the history behind electric companies. It was in the 1970s / 80s that solar became a decided source for power. However, the government messed with the energy corporations and called an energy crisis (don’t ask me dates) around the same time. The reason being, they saw the solar power being an option and realized that if this happened… no one would have to continue paying the money to electric companies… and they would loose money.
Over a period of time, the idea of solar became one that was “too expensive to afford,” “one that hadn’t been developed” and was swept under the rug. However, despite popular belief, it actually works BETTER than electricity.
The problem really was, the corporations and the government didn’t want to go out of business or loose money, so they created a cover up to keep everyone paying. Let’s take Excel Energy, the energy company in my area. Did you know that even a small apartment can expect to pay between $50 and $75 a month? it’s completely ridiculous. And, you have no control over it.
You would think this would be fair, but basically, they are controlling what you do with your electricity. They jack their prices up, they threaten to turn off your electricity if you even fall a little bit behind and…trust me… they are not very good at working out payment plans. I can’t tell you how many times they have screwed up my bill because of stupidity or because they wanted to jack my prices up.
So, here is how you deal with your electric company, especially if it is Excel. Make sure that you are caught up or no more than $150 behind (that’s most likely one month if you have a home). Then, stay on a payment plan and a little ahead of the bill. The next step is to try and get into alternative energy…meaning solar power.
There’s two types of solar power that you can get, and depending on the size of your home, you won’t need to pay more than $15,000. The advantage of this is that it can be divided into payments that is the SAME AMOUNT as a company like Excel per month. Meaning, you can make the transfer, pay off the solar, then you will never have to worry about it again. You will have maybe a 5-10 year payment and investment and can stop paying into a hole that won’t let you be freed of the threats from turning your electricity off.
Salvage Groceries
I was really surprised at how many people had no idea what salvage groceries were. Salvage groceries are pre-packaged food items that are an overstock of the manufacture or they might be a little out of date or if they are canned food then they might have dents in them or the box might be ripped a little or look like it got crushed a bit.
Gasp! OUT OF DATE?! Yep. You would be amazed at how long it takes for vacuum packed food to go stale. I have bought many boxes of ceral that was a little out of date. Now, I’m not talking about two months out of date but one month is acceptable. Besides, the Health Department has really cracked down on salvage grocery dealers. There are a lot of food items that are not allowed to be sold because of the shape it’s in.
When I go shopping at the salvage grocery store, I usually get stuff like noodles, hamburger helper, candy, cookies, chips and cans of vegetables. A great way to get your candy cheap is to buy it at these kind of stores. Now, I will buy candy months out of date. For example: Around Christmas last year, we went to the salvage store we usually buy at. We found Halloween candy there and of course, it was still good.
Another good reason to shop at salvage grocery stores is the prices. Usually, the prices at these stores are much better than your normal grocery stores. Of course, they don’t have the varity of regular stores and sometimes they don’t have much on their shelves. Even so, if you’re on a budget, then you should see if there is a salvage grocery store near you and try it out!
Another Way To Save While Grocery Shopping
Another way to save money while grocery shopping is to make a list before you go to the store and stick with it! Don’t buy anything not on the list-it adds up! But if you find you have forgotten to add something important on your list, by all means get it.
A good way to go about list making is write down what you plan on making for each meal every day of that week.
Then go through your cabinets, fridge and freezer and make sure you have what you need to cook those meals. What you don’t have, put on the list.
Once your list is made and you’ve checked it over a couple of times to make sure you got everything, you’re ready to go shopping.
Saving Money When Buying Toys
Children love toys and who can blame them? My kids love going to Walmart and even though they might not get any toys right then, they still love walking down the toy isles and looking at all the fantastic toys. Unfortunately, as parents, we know how expensive life is.
I was looking around a flea market last year and found a booth that was selling baby toys. They weren’t new but in excellent condition. Plus, my two year old daughter went wild over them. I had found an alternative to buying toys my kids loved but without the exorbitant prices of retail stores. Now some might balk at buying used toys but I have nothing against it. I still buy brand new toys but if we happen to be at a flea market somewhere, chances are we will go home with a ‘new’ toy or two.
Use Less Electric and Save Money
When my dryer died on me, I was depressed. It happened at a time when there was no way of just going out and buying a new dryer. The money wasn’t there at the moment and it was the middle of a work week. After a trip to the dollar store, the new clothes was strung up and I started hanging out clothes to dry. I’m not trying to sound childish and spoiled but hanging clothes out to dry was very inconvenient, especially when the weather wasn’t cooperating. My husband and I decided to not buy another dryer just yet. Well, I still wanted one but I agreed to wait a while.
“Just wait,” he told me. “You’ll be surprised when you see the electric bill.”
A month went by and I waited for the bill. Finally the day arrived! I have to tell you that this was the absolute lowest our electric bill has been in years! By not using a dryer for just a month, our electric bill went down $100! It went from $279 to $178. I was amazed!
If it’s where you can, I urge everyone to leave the dryer alone, at least for the summer and hang out your clothes. Then you too can experience a lower electirc bill!
Work with Creditors and Cut Back
With the economy going downhill and difficulty getting a paycheck, it can be hard to fix finances. One key thing to remember when you are living paycheck to paycheck, is to work with your creditors. Many of them will work with you to make a partial payment. Even if you pay just a few dollars on the debt, that is better than nothing. It shows them that you are really trying.
Cancel anything that is not absolutely needed. If you have multiple credit cards, cancel all but one. Focus on paying off the other cards and then cut them in half. Make sure to send a written letter to the finance company or credit card company to let them know of the cancellation.
Do you really need DVR service? Do you really need that extra tier of cable service? Could you do without the call waiting, extra minutes and unlimited text on your cell phone for a couple of months to get caught up on bills? Look closely at what you spend on and think of ways to cut. Cutting out expenses will help the most for fixing finances. Living within your means and taking steps to get out of debt, not only creates a better financial situation, but often a better and less stressful lifestyle.
Money Saving Tips
It seems like we’re all looking for ways to save money these days. With the constant rise of gas prices and even food increasing, it’s no wonder many of us are struggling to get ahead and stay there. But there are a few little tips and tricks that work over time to save you more.
Many drivers may not realize that you can actually get better gas mileage by only filling up half a tank at a time. When I first read this I thought it couldn’t be that big of a difference. However, filling up on 2 half tanks saved me $15 compared to filling up the whole thing at once. Try it! Not only that, how you drive really plays a part in your fuel consumption. Burning rubber and squealing tires will not do much to save you gas or money. Or tires for that matter.
For many of us, we’re trying to accommodate the new rising costs while battling the debt we’ve already acquired. With the insane interest fees charged this can seem impossible to break free from. Often the money earned monthly is gone before you even see it. If this is something you experience try following advice from shows like “Til Debt Do Us Part”. There is plenty of helpful advice and real life couples that learn how to make a change in their budget.
Cut out things you can do without. We all have something. Whether it’s coffee out at a coffee shop daily instead of at home or that name brand item rather than generic, it can be changed. Quit smoking or take a walk to the corner store instead of driving. These things will add up faster than you may think. Saving money starts with you. What are you willing to change?
Week to week or year to year…
Many people fail to realize they way taxes work. Working for an accountant I have realized just how these things do work.
If you are always saying “taxes are killing me” and are in need of more money per week; consider your withholding status. If you are married but filing single then they are withholding two times the amount you will owe at the end of the year and yes this is good if you look forward to a healthy tax refund but its not so good if the money would benefit you more throughout the year. For instance if you are married and have two children with an income of fifty thousand dollars or less then chances are you are not gonna owe much in taxes if anything. The catch is to visit the IRS website and look at your tax bracket; your tax bracket would be the amount of your money that you actually will owe tax on. Take out your last years tax refund/amount owed file and go over it. If you read it you will figure out how it is calculated. Once you have figured out your tax bracket then calculate the tax. If at years end you are going to owe nothing then you may want to reconsider the way you are claiming on your w4 forms. Now doing this will change the outcome of your weekly pay as well as any refund you might be expecting; it all just depends on when you are going to need the money the most.
Avoid Going Into Debt To Improve Your Credit Score
Many people try to fix finances by going into debt to improve their credit score. They think that the more credit cards they have; the better. This is not the case at all. Having a lot of debt in comparison to what you make is not a good thing. In fact, it will only serve to hurt your credit score and you end up paying a great deal of money in interest.
If you can afford to pay a large down payment on an item, such as a car, do so. Taking out a car loan just to improve your credit score is a recipe for disaster. You cannot fix finances by adding more debt to your current debt. This ends up digging you further and further into debt and risking an even lower credit score.