Posts Tagged ‘Saving Money’

Rebuilding Your Savings

Posted May 31, 2009 by Bernz

If you’ve seen your savings dwindle to an all-time low over the past few years then you’re not alone. Many people have been affected by the current recession and find that they have less cash on hand savings than at any other time during their lives. Rather than simply lamenting this fact the key thing is to get proactive and began to get your money working for you once again.

savings

When looking to rebuild your savings, the thing to do is to start small and start safe. Simply choose a small amount of money that you can afford to invest and put it away consistently into a savings account. While savings accounts don’t offer incredibly high rates of return, they are extremely safe and any amount of interest you earn will be more than you would if your money was stuck under your mattress or in a coffee can in your closet. Choosing to have a small amount of money deducted regularly from your paycheck and deposited into a savings account is a fantastic way to begin to rebuild your savings.

Another safe and secure investment is a CD, or certificate of deposit. The rates they offer are usually higher than those of savings accounts because they make you keep your money in them for specific periods of time. Once a CD is purchased, your money will stay in them and accumulate interest for the term of the particular CD and once the CD matures you will get your money back with the interest it earned. If you are tempted to take out your money before the end of the CD’s term you will face penalties which can negate the effect of these safe money making tools. (more…)

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Posted in Financial Education, Financial Goals, Investing Basics, Saving Money | 1 Comment »

Would You Like to Trim Your Utility Bills?

Posted April 1, 2009 by Bernz

Everyone knows that not turning off the lights, fans, and televisions, and other utilities can put a dent on your pocket. In today’s economic downturn where lay-offs and unemployment are the norm, it is important to cut your bills where you can and save money. Aside from the obvious money-saving techniques you can put into practice, there are other ways to save on your utility bills. Below are some ingenuous ways that can help you save a significant amount of money every month:

switchControl Your Indoor Weather

Depending on your current heating system, using electricity for warmth can be eating up a big part of your utility budget. Try to look into programming thermostats to control the indoor temperature. If the residents at the house are awake, you can keep the temperature at 68 degrees. And once they are asleep, you can drop it to 55 degrees. Generally, the lower your home temperature, the more money you save. The savings can add up especially during the winter season.

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Posted in Frugality, Misc, Saving Money | No Comments »

Financial Literacy- Does It Still Work?

Posted March 30, 2009 by Bernz

Financial literacy means being savvy with your cash flows and understanding your financial transactions in order to make better decisions that will protect and increase your wealth. Many feel that financial literacy is no longer useful or relevant in the face of our current economic meltdown. They feel that, no matter what consumers know or do, they will be hurt in this recession.

financialiqHowever, financial literacy is more important than ever. Understanding your financial position and how to navigate through tough economic times will give you a leg up in ensuring your financial security.

The people who will survive and thrive in today’s economy are those who have a handle on their personal finances. They know what they own and what they owe and they know where the cash is coming from and going. Every dollar that comes in has a name- meaning they know exactly where it is going.

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Posted in 401k, Debt, Estate Planning, Financial Education, Financial Goals, IRA, Index Funds, Investing Basics, Investing Strategies, Investing in Real Estate, Life Insurance, Loans, Mutual Funds, Retirement Planning, Roth IRA, Saving Money, Saving for College, Simple IRA, Stock Market Investing, Tax Reduction, Traditional IRA, Wealth Building | No Comments »

5 Money Savings Tips You Can Benefit from Today

Posted March 27, 2009 by Bernz

When people become concerned about money, their first thought is that they’re simply not making enough at their current job. Well, switching jobs or even getting a significant raise are both tough things to accomplish within a short period of time. So, what can you do if you need more money? The answer is simple, look to you.
moneysave4
Most people are spending hundreds if not thousands of dollars each and every month on things that they do not need or are simply unaware of the money that they’re losing from not keeping track of it properly.

Below are five money-saving tips that you can begin using today to help you save hundreds of dollars or more every month.

Make a budget

Making a budget seems like a simple thing to do, but most people never do it. Simply writing down every single expenditure that you have on a monthly basis as well as writing down every single thing you buy will help you get a fantastic picture of just exactly where your money is going. Simply start crossing off the items that you don’t need and reap the benefits of the savings.

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Posted in Financial Education, Financial Goals, Frugality, Saving Money | No Comments »

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