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Articles for February 2010 Year » Make Money, Payday loans online, Insurance Online | military payday loans
Sometimes we don't realize how much simple activities really cost us. Take the example of direct depositing your paycheck. One would assume that the difference between depositing your paycheck yourself and having it directly deposited into your bank would be minimal - maybe a $1.00 at most. The fact is that the actual cost of depositing a paycheck rather than having it directly deposited is more than 5 times that number.
According to a study conducted for NACHA (the electronic payments association) by Tinucci & Associates, the total direct and indirect costs of depositing a check yourself instead of using direct deposit is a whopping $5.88. That means that if you get paid every other week, it costs you more than $70 a year to deposit your own paycheck rather than having it directly deposited.
In addition to saving you money over making the deposit yourself, direct deposit can also save you on banking fees. Many banks offer incentives for you to have your paychecks directly deposited often waiving minimum balances for free checking. Simply ask your bank what incentives they offer when applying for it.
For those that are just starting out and looking for the best way to make their money grow, learning how to save money is the best investment strategy for most people. While saving money is often looked upon as the ugly duckling of the personal financial world and arguably the the best low risk, high return investment that you can make, setting up a plan to put it in motion can be difficult for many. Here is a beginners guide to ugly duckling investing for those that want to take advantage of this investment strategy.
There are a couple of basics that already need to be established to undertake this investment strategy. You need to at least know what you are currently spending (ie - have a basic budget) as this will allow you to look for areas where your current expenses can be cut to save money. You also need to realize that cutting expenses doesn't equal saving money.
Step One - Set Aside A Set Amount Of Time: The first step is to set aside a specific amount of time that you will dedicate to this investment strategy. While it may take more time in the beginning while you are getting used to your new habits, it will still take much less time than trying to learn a completely new investment strategy. If you can set aside 2 to 3 hours a week, you'll have plenty of time to maximize the ugly duckling investment strategy to the fullest.
One of the best ways to control your spending is to force yourself to use a mandatory waiting period before making any unnecessary purchases. Tell yourself that you will buy nothing until that waiting period is up. A waiting period gives you time to cool off, get away from the temptation, review your finances, and decide if you really, really want and can afford this thing that has you so captivated in the store. A waiting period can save you a lot of money (or time on the return lane when you decide to return the thing because you really didn’t want it anyway).
The first thing to do is to decide how long your waiting period will be. I like to use two weeks because I find that two weeks is usually enough time for me to make a rational decision. Use your waiting period to review your finances, compare prices, think about how you’ll use or store the item, inventory your existing possessions and look for duplicates or very similar items, look for used, free, or rental alternatives, and look up product reviews and specifications to make certain this is something you’ll like and use. Some people only need a week, others need a waiting period of a month. You know how you think, so set a waiting period that will give you enough time to decide whether this item is something you want to own.
At the end of your waiting period, one of four things will happen: ...
In order to avoid debt, it is crucial that we get the best price and value for our money on almost everything we buy. Over the years we’ve found that buying many items used makes this much easier than if we were buying things at retail prices. This was particularly true when we were young and had very little money to spend on big ticket items like furniture, appliances, and cars. We don’t buy everything used, however. There are some items that we’ve found to be good buys when purchased used and other things that aren’t so great. So what are some of the best things to buy used and how do you make sure you aren’t getting burned with someone else’s junk? Here are some tips and ideas.
Things that are good to buy used:
Things that you aren’t sure you’ll like and don’t want to sink much money into: Video games, DVD’s, music, and books are all good candidates for a used buy. If it turns out that it isn’t good or you don’t like it, you haven’t put much money into it. If you can rent or borrow the item first, that’s even better, but if buying is your only choice then used is the way to go.
When we get bored or stressed, some of us tend to head for the stores to look for something to do. Maybe we want a new book, a new CD, or a new movie. Maybe we want new clothes so we can jazz up our wardrobe. Maybe a new board or video game will do the trick. This quest for new stuff might alleviate the boredom or the stress for a while, but it can get expensive and lead to a lot of clutter in your house. The next time you feel the urge for something new, try going shopping in your own home, first.
What do I mean by shopping in your own home? Many of us (except the most disciplined of people) buy things that we never get around to using. We buy books and forget about them or don’t have time to read them. We buy CD’s and listen to that one great track and never listen to the rest. We buy movies and never get around to watching them. We buy board and video games but then never get around to playing them. We buy clothes, shoes, and housewares that we see on sale and then we put them away to be used when other stuff wears out. We receive gifts that we’re not sure what to do with so we stuff them in a closet. Wherever it comes from or whatever the reason it has been ignored, chances are you’ve got something hiding in your house that will be “new” to you.
These days you have to be really wise, especially when it comes to your finances. Spending on your car and its insurance coverage is no exception to this. Wouldn’t it be great if you can get the cheapest auto insurance possible? To do this, you must shop around. You can ask for help from people who can point you to the right direction, or you can log on to the Internet and do your research. There are many auto insurance discounts you might be eligible for, and you must be aware of them.
Schooling: If you’re a full-time student, you can hit two birds with one stone by maintaining grades that average at least a B in school. The first benefit is you can be eligible for the “good student discount,” which most insurance companies offer. The second benefit? You might just receive a school scholarship for your excellent academic performance. Other school-related discounts include being a college or 4-year university graduate, and being a current graduate school student.
Your occupation and membership in some professional organizations: Some insurance companies offer discounts for federal employees, teachers, members of the National Guard or the military, and members of organizations like AAA.
When a foot injury (and bitterly cold weather) recently sidelined me from my regular running routine, the doctor suggested that I find some low impact exercise to see me through my recovery time. Biking was out, at least for a while, because biking in sub-zero temperatures holds no appeal for me. I was already doing a lot of yoga and pilates as cross training to give my body a break from running, but I get bored if I have to do the same things over and over again. Doing the same pilates and yoga DVD’s every day, without being able to go out and run to break the monotony was likely to make my recovery seem much, much longer.
So, I gave some thought to joining a gym. I thought that maybe some exercise classes and a variety of machines would keep me entertained and in shape while my foot healed. Well, when I found out that a gym membership in my area would cost me about $600 for a year (including enrollment fees), I got serious about finding something else to keep me entertained. I looked into exercise DVD’s but found that, while they were cost effective, most of the ones I rented were either too short to be challenging, boring, or too hard on my injured foot. And, as I noted above, if I have to do the same exercises every day, I tend to get stir crazy. With DVD’s, once I’ve learned and mastered the routine there’s no more challenge. It becomes rote exercise. So I looked for some more alternatives.
Despite the fact that it’s the middle of winter here, my dog has fleas. I got this great news at the vet’s office when she went in for her checkup. He said that the weather conditions here have been perfect for growing a huge flea population and now that it’s cold, all those fleas are moving indoors. Great. To top it off, he told me that the veterinary community is starting to see fleas evolving resistance to many of the popular topical treatments like Frontline and Advantage. So what’s a pet owner to do in the face of a flea invasion when the usual approaches aren’t working?
I did not want to launch an all out chemical assault in the house if I could avoid it. I didn’t want to have to break out the bug bombs, the carpet powders, or the special shampoos. And I really didn’t want to call an exterminator. Aside from being toxic and messy, chemical flea controls are expensive. So I went looking for lower cost, less toxic alternatives. I came up with several good ideas, most of which have worked very well.
A while back I wrote about twelve things you could do with an old shower curtain liner. In the same spirit of saving money and cutting down on waste, I now offer you fourteen things you can do with an empty jar. Of course, what you’re able to do with a jar will depend on the size of the jar. A big spaghetti sauce jar can be used differently than a baby food jar. But in general, here are some ideas for all those jars.
Glasses: I’ve been in several restaurants where the beverages were served in Mason jars. It brings a country feel to the meal and it’s a cheap source of glassware. A plus: Jars are harder to break than fine glassware.
Vases: A big jar makes a great vase, especially if you tie a ribbon around it or decorate it in some way.
Gifts Maybe you make a great sauce, jam, or dip. Make your best recipe, put it in a jar, and give it away.
We all know (or should) that living above your means for the long term is a recipe for financial disaster. Living above your means is spending more than you earn on a consistent basis. When you do it occasionally, as in the case of an emergency or a planned splurge, it’s not detrimental. However, it becomes detrimental when you do it consistently. Most of us know this and try to avoid it, with varying degrees of success.
There is some confusion, however, as to the difference between living within your means versus below your means. Many people assume that they are the same thing, but really they’re very different. I’ve heard many people claim that, “I’m living within my means, therefore we’re all set. We have no financial worries.” When I ask them if they have emergency funds, retirement accounts, or low debt levels, the answer is often no.
“Then how is it possible that you’re all set financially?” I’ll often ask.
