Archive for money
15 ways to grow money
Posted by: | CommentsTired of “experiencing cash-flow interruptions”? Want to increase your net worth? The best way to accumulate money is to stop spending it on things you want but don’t really need, and to save and invest so your dollars will begin working for you. “Building your net worth doesn’t require a small fortune, but you do have to change spending habits and practice more self-control,” says Sherrin Ross Ingram, author of Wealth Mentality (Jourdan & Brown Publishing). By taking big and small steps, you can reduce expenses and achieve your financial goals. And if you follow just a few of these 15 tips, you can save $5,000 or more in just 12 months:
1 DON’T PASS UP FREE MONEY. “You can’t afford not to participate in your company-sponsored retirement plan. If your employer matches your 401(k) contributions, it is like free money,” says Gall Perry-Mason, coauthor with Glinda Bridgforth of Girl, Make Your Money Grow! (Broadway Books). And if your job offers a pretax savings plan for medical or child-care expenses, Ingram adds, “don’t pass it up.”
2 PAY ON TIME. Fees and penalties for late credit-card payments add up, and they take their toll on your credit rating, says Ingram. Pay more than the minimum due on credit-card bills so you can cut both the time you spend paying off the debt as well as interest payments.
3 DON’T BLOW A WINDFALL. Avoid scratching your spending itch when you get a bonus, an income-tax refund, a holiday monetary gift and any other extra money. Use it instead to pay down debt, put it into a savings account or invest it.
4 SHARE YOUR SPACE. Consider taking in a roommate, family member, friend or tenant to help cut rent or mortgage payments and utilities in half, says Bridgforth. If you shell out, say, $800 a month in living expenses, with a roomie, you can halve your costs and save $4,800 a year. The savings can be invested in your retirement account or socked away in an emergency fund.
5 GET A LOW-COST RIDE. “Because cars decrease in value the moment they’re driven off the dealer’s lot, it makes sense not to invest too much money in them if your net worth needs accelerating,” counsels Bridgforth. Expensive cars cost more to insure and repair, and their resale value can plummet significantly after three years, she adds. Compare prices and market values at edmunds.com, then shop around, and always negotiate the sticker price.
6 BECOME A LANDLORD. The equity in a home is a large source of wealth, says Robert G. Allen, coauthor of The One Minute Millionaire: The Enlightened Way to Wealth (Harmony). “But owning rental property is a powerful wealth builder. You buy property and someone else pays you rent, which often covers your expenses from owning it,” he explains. Meanwhile you increase your current monthly income, build long-term wealth, and receive tax deductions. The depreciation annual write-off on a $100,000 property amounts to more than $2,000, he points out.
7 TAKE A COFFEE BREAK. With a luxury latte going for about $3.50, you could easily shell out more than $1,200 a year for that daily caffeine fix. Purchase regular coffee or buy a jar of instant and make your own at the office, and you’ll save about $1,000 a year.
8 DON’T GET CLEANED OUT. Dry-cleaning bills can put a big dent in a budget. Perry-Mason suggests that you save on cleaning bills by using Dryel–or some other do-it-yourself dry-cleaning product for lightly soiled clothes–or washing items in Woolite. If you spend, say, $20 a month on professional dry cleaning, do it yourself and save up to $200 a year.
9 CLIP COUPONS. By snipping coupons from Sunday’s paper, you often can reap a windfall because many stores will double the amount of the coupon. This can save you as much as $20 to $30 each time you shop, about $1,040 a year.
10 SAVE ON TALK. You can save from $20 to $45 a month ($240 to $540 a year) by cutting off the extra features your telephone service provides or by switching to a company that charges two or four cents less per minute per call. “Many people are just too lazy to switch,” Allen says. “But that laziness costs them.”
11 BOX-LUNCH IT. Take your own lunch to work; if you normally spend $10 a day, that’s an extra $50 in your pocket on Friday, a saving of $2,500 annually. Leftovers from eating out or from last night’s home-cooked meal can make great lunches.
12 REFINANCE YOUR MORTGAGE. If you want to reduce your monthly mortgage payment to free up some cash, refinance at a lower interest rate if the estimated closing costs are low enough to make refinancing worthwhile. And if you call afford a higher monthly payment, go with a 15- or 20-year loan because you build equity faster and pay much less in interest, Bridgforth advises. For example, she points out, “with a $100,000 mortgage at 6 percent for 15 years, you pay $843 monthly in principal and interest, and $51,894 in interest over the life of the loan. With a 30 year mortgage, you pay $599 monthly but $103,961 in interest over the 30 years.”
13 DON’T EAT ALL YOUR EQUITY. “Excessively consolidating your credit-card debt into your refinanced mortgage or equity line of credit will devour your home equity and significantly lower your net worth,” Bridgforth cautions. If you run your credit cards up again and again and remedy the problem by using equity from your home, you may walk away empty-handed when you sell.
14 The sticker price of any item is rarely the lowest price a merchant will accept, says Ingram. After you decide what an item is worth to you and how much you’re willing to pay, then ask the merchant to give you “a better price.” That way you’ll know how much bargaining room you have.
15 PLAN AHEAD. “The more long-range planning you do, the cheaper your life becomes,” says Allen. For instance, if you buy an airline ticket less than a week before you’re ready to travel, you will generally pay full fare. If you get it three months in advance, you can save up to 50 percent, he reveals. Buy it two weeks before and you can knock 10 to 20 percent off the purchase price.
For a wealth of ideas on saving and growing your money, go to allthingsfrugal.com, bargaindiva.com, or the frugalshopper.com.
Maximum Cash Back
Posted by: | CommentsPeople with bad credit record face several problems while trying to procure a secured loan. Their bad credit history reflects that they may have arrears, defaults, county court judgements (CCJs) against their name. Some of the lenders will think twice before sanctioning a secured loan to them. Other lenders however do not give too much importance to the credit record. They know that in the case of non-payment, they can sell off the property offered as collateral and get back the amount lost.
Secured loans have many advantages for the borrower as well. For example, the terms and conditions of secured loans are easy. The borrower also has the option to choose low interest rates and longer repayment terms so that the monthly instalments remain low enough.
The disbursement of secured loans is not that fast. This is due to the evaluation of the collateral and the resultant paper work. The borrower however can easily ignore this disadvantage as getting it late is better than not getting it.
A bad credit secured loan should chiefly be utilized for improving the credit record. There is no restriction however on its use. One could use it also for other purposes like meeting holiday expenses, medical expenses, house renovation, vehicle purchase, debt consolidation, and car purchase.
Other types:
Some other types of most favoured secured loans are personal secured loan, secured homeowner loan, secured consolidation loan, low rate secured loan, cheap secured loan, and secured business loan.
Before applying for a secured loan spend some time on the internet and compare the rates of different lenders in UK. If you have doubts about something take advice from online financial experts. They will help you secure the best deal for you. Apply for online secured loans to save time and energy.
uk online market offering cash back
Exercise Can Make You Wealthy
Posted by: | CommentsIn this article, which is the last of a three-part series, we will explore the financial aspect of fitness.
About 80-90% of my adult clients know that exercise is beneficial to the body, but do not want to spend their time “fooling” with it. They feel their day will be more productive and they will be much happier if less time is devoted to exercise. “Why spend an hour of my day doing something I hate?” they ask.
What I spend the next several weeks showing them is just how exercising will result in more productivity by giving them more energy. I show them how exercise will make them healthier, happier and yes, improve their finances… and in less than 30 minutes a day.
My program is based on a full-body routine that uses the butt to stimulate the brain for improved energy, body mechanics, weight loss and productivity. Clients demonstrate and report a new vigor for life.
Because the program is movement efficient, it can be done in a small space and in a short amount of time with little to no equipment.
Combination movements such as lunge with press, squat to row and single leg hip rotations combine strength, flexibility and balance while including a cardio component for improved circulation and endorphin release. These routines can be done in less than 10 minutes depending on your pace and on resistance used.
The routines are ideal for busy entrepreneurs, busy parents and/or stay-at-home parents. Basically, this routine is for anyone who feels overwhelmed and does not have time to exercise.
So, you can see the benefits to your health and how convenient the routine can be…so, how will it help someone financially?
First, this exercise will help you gain confidence because of how you feel, perceive yourself, and ultimately how you look. This, in turn, can help you approach your current occupation differently, i.e. new ideas and changes in daily performance can lead to increased output. This can all mean raises and/or promotions.
Harv Ecker in his book Secrets of the Millionaire Mind (www.millionairemind.com) discusses creating your own circumstances at work. He recommends speaking to your superior and developing a situation in which you can be paid based on your results.
Energy and productivity improvements can help someone in this situation to achieve better results. As you continue to produce good results, then your chances to make more money will obviously improve.
How about if you work for yourself? Then you can appreciate the need for being efficient and productive on a daily basis.
The benefits of creativity and thinking more clearly due to exercise could have profound effects on your bottom line or bottom dollar (pun intended).
Internet marketers are always looking for new and creative ideas and ways to get information across to potential or current clients. Actually, they are usually the first to report lack of time and issues with a big internet butt. Taking 7-10 minutes once or twice a day could have a huge impact on their internet relationships and sales.
If you are more excited and energetic about your work, then wouldn’t you want to learn more about your area of expertise, so you could be that much better? Personally, I tend to want to gather as much information as possible when I am excited about a topic or area of interest.
Learning more information and thus, becoming more of an expert on a particular topic can only improve the possibility of being more successful in that given area.
Robert Allen and Mark Victor Hansen in their book One Minute Millionaire, (www.oneminutemillionaire.com) talk about doing something you love or are passionate about and by doing so you will figure out ways to make money doing it.
Alex Mandossian, (www.teleseminarsecrets.com) continually instructs his students to ask themselves and those around them “What am I good at?” In other words, do what you are good at and passionate about.
Exercise can help you become more passionate and excited about learning by improving that energy and productivity.
I am always stressing to clients how they need to change their “script” when it comes to fitness and exercise. I tell them if they change beliefs they can change their appearance. Harv Ecker would call it changing their roots to get better fruit.
Exercise is improving this “inner you” way before it changes the “outer you.” The biggest benefit to my exercise program is changing the way you feel both mentally and physically. This can have a dramatic effect on whatever results you are looking for in life… mentally, physically and/or financially.
How many times have we seen the changes in a co-worker who has become more fit? He/she gets comments, attention, and more than likely a raise or promotion. Why?
The first answer would be because that individual has come out of his/her shell, looks and feels better, and now the boss has seen the change and decides to reward it.
If we are honest about it though, we will see that this “achiever” changed his/her “inner self.” That person now has more energy, confidence, creativity, gets more done each day and ultimately, deserves to be rewarded.
Reward yourself… mentally, physically and financially.
Begin an exercise program. It may be as simple as 7-10 full-body exercises once to twice a day, a 15-minute walk during your low energy point of the day or a routine you do every day that gives you the confidence you deserve.
Start today! Your mind, body and bank account will thank you.
“If you’re proactive, you don’t have to wait for circumstances or other people to create perspective expanding experiences. You can consciously create your own.” -Stephen Covey
Copyright 2006 John Perry
About The Author
John B. Perry, P.T., C.S.C.S. is a fitness and biomechanics enhancement expert. He has a fitness newsletter website, writes e-books and articles, produces fitness videos and performs seminars and teleseminars on Health, Wealth and Fitness.
Want to learn how to improve your finances by adding exercise to your daily routine?
Go to http://www.hiptobefit.com
Setting up a Home Career
Posted by: | CommentsMoving into a home based career can be both a challenging and rewarding experience. There are a few items worth covering on this subject, and a few things you need to prepare for when setting up your home career.
Before you even begin to draft your business plan, make sure your desired career can in fact operate from your home! Be sure to check your existing zoning laws to see if your home based business is acceptable.
The biggest advantage to having a home based career is the obvious transportation savings and the close proximity to your family. However when setting up your operation, there are a number of other costs that you should allow for. If you are going to maintain a full career from your home then you will need essential office space and supplies. You need to make sure you can actually run your business from your home; do you have a spare bedroom or finished basement where an office can be constructed? You will also need basic office equipment such as a computer with Internet connection, phone, fax lines, a desk and file cabinet.
Also, keep in mind when setting up a home based career, whatever you are selling, you are in a residential setting. Is this helpful or a hindrance for your business?
There are many more things to consider when setting up your home career; though remember as with any type of business, the success or failure of your home career largely depends on your diligence and effort.
His And Her Finances
Posted by: | CommentsIt’s difficult to learn how to manage finances together when you’ve been managing your finances on you own, for better or worse, up until now. But when you become part of a couple, many things change, and your finances are no exception! Some couples take the traditional path of blending all their finances together, however more and more couples are deciding to keep their finances separate. .
What are the benefits of each option? The benefits of consolidating funds into one checking account includes easier record keeping, simplified money management (ideally), and less paperwork when applying for a loan. In addition, the blending of finances can create a “unified front” in that aspect of a relationship that simply can’t be argued with. Obviously, the drawbacks are that both people are actively using the account and that will make it harder to track transactions and monitor your balance when you don’t know what the other is doing.
On the other hand, maintaining separate accounts will allow each person in the relationship more freedom, because they won’t have to run purchases by the other person. In addition, doing so may create fewer complications in the relationship, allow each person to build their own good credit, and quite simply allow them to maintain a sense of independence. The most obvious downfall to a his and her finance arrangement is that it can be disproportionately unfair. If one person makes $60,000 per year, and the other $30,000, the person making the lower salary may not like the arrangement!
If you do decide to keep “his and her” checking or savings accounts, then you’ll need to find a system for paying house bills and handling other joint finances together. One option that has worked great for many couples is to create a third joint checking account and designate it as the “house” fund. You can set up your separate, individual checking accounts to have money automatically withdrawn from them each month at most financial institutions. You will have to sit down together and decide what amount needs to be in the joint account every month in order to cover the “combined” expenses. In a situation like the above—where one person makes significantly more than the other—it is usual for the higher wage earner to pay a larger portion of the expenses.
Another aspect to consider with his and her finances is credit. This can be considerably beneficial or problematic, depending on your individual credit ratings. However, at some point you may want to apply for joint credit with your spouse. You will most likely want to make big purchases together throughout the marriage such as a car, a house, or appliances, and it’s much easier to do that if you have joint credit. With joint credit, you will both be 100% responsible for the debt, even if you co-sign a loan with your spouse or add your name to your spouse’s credit card account. On the other hand, if you decide to maintain separate credit, the general rule is that you are not responsible for each other’s debt. (The exception to this is if the debt is considered a family expense.)
If one person had bad credit prior to getting married, then the person with good credit may want to keep their credit separate. Why? Because if you apply for credit together, the lower credit score will bring down the higher one.
The best advice? Be upfront about your financial weaknesses, and discuss a plan—before the big day—to handle them. Once you have identified the potential pitfalls, it will only take a little planning to overcome them.
About The Author
Simon Harris
This article provide courtesy of http://www.debt-monster.net