D' Finance Bench

The Right Place To Sit At For Financial Advises

Easy Money-Saving Changes

One of the most obvious and easy ways to save some extra cash is to change some of the way you use products and items in your everyday life. The key is to make minor changes. Continue reading

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September 25, 2012 Posted by | Budgeting | , , , , , , , | 2 Comments

Avoid Spending Pitfalls

With all the advantages that are evident from personal budgeting, it is no wonder that more and more people are relying on them to reduce debts and increase their savings. However, all ‘budgeters’ need to be careful to avoid some common pitfalls that appear often. 
Credit cards may seem like small pieces of plastic, however they can cause a great deal of trouble for the owners. It is common for people to make unwise purchases, which they would have avoided otherwise, because they had the credit card in their wallet. The best solution for many people is simply to get rid of credit cards and begin paying only by cash, check, or debit cards. You may want to keep one card handy for emergencies, but it is probably best to keep it out of reach, and far away from your wallet. Continue reading

September 25, 2012 Posted by | Budgeting, Money Management | , , , , , , , , | 4 Comments

Getting Out and Staying Out of Credit Card Debt

Credit card debt is a major cause of over one million bankruptcies each year. The reason is that many people get a credit card without researching and reading the fine print. By the time annual fees are added on, along with spending indiscriminately, payments are missed, which causes their balance to skyrocket.

Although we all like to place the blame on the credit cards and the credit card companies, you need to keep in mind that the real cause of your financial mess is you. Continue reading

September 23, 2012 Posted by | Credit Card | , , , , , , , , | 6 Comments

Learning About Cash Back Credit Cards: Good or Bad Idea?

Getting a credit card that offers cash back always sounds like a good idea.  What could be better than getting cash back on all the purchases that you make with your credit card?  It sounds too good to be true, doesn’t it?   

Well, there are cards that give you free cash, but it is usually only around 1% cash back.  However, free money is free money, right?  Well, sometimes.   Continue reading

September 23, 2012 Posted by | Credit Card | , , , , , , , , | 1 Comment

We are Family: Budget Tips for Today’s Familial Ties

If you are in charge of creating the family budget, chances are, you’ve had the unfortunate experience of having a brilliant budget plan that isn’t executed well. This happens to many families and couples, and with a little attitude tweaking, you can solicit the help of your family in making your budget work.

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September 23, 2012 Posted by | Budgeting | , , , , , , , , , | 2 Comments

A Little Goes a Long Way: Smart Secrets to Budgeting

There’s nothing more we want than to be able to efficiently manage our money. After all, the money that we want to manage is money that is oftentimes, hard earned. This is where a budget comes in. A budget executed properly, should help you see where your money is going, get more utility out of every buck, and help you save some extra for future use.

The first smart secret to a budget is to set a goal. What do you want to achieve? Do you want to correctly appropriate your income into bills payments? Do you want to put an amount aside for a big purchase or a huge investment? By having a goal, you will be able to shape your budget to best serve your interests. Continue reading

September 23, 2012 Posted by | Money Management, Savings | , , , , , | 3 Comments

Methods Of Saving Money

Saving is basically putting aside money or a way to utilize your present income for future use.

One saves for several reasons such as for a college education, buying a new car, for a new TV set you wish to acquire in three to four months time, for down payment on a home, or to provide for yourself when retirement comes.

As much as there are several reasons for saving, there are likewise many methods in which one can save. In most instances, the best method can be determined by whatever plans you have for the future.

1. Savings accounts. When saving for just a short period or for emergency purposes, consider opening a savings account passbook, as it is in this method that you can easily gain access to your funds.

Great for both long and short term savings, you can deposit and withdraw money to your account and earn interest, based on your average daily balance. A minimum balance is required to be maintained though, and you are charged with a penalty should you fail to maintain it.

2. Checking account with interest. Here one can benefit from checking account conveniences, while your deposits gain interests. Generally these types of accounts grants privileges such as limitless withdrawal and check writing, access to ATM and bill payments that can be done online.

This method typically requires a daily maintaining balance of at least $2,000.

3. Money market insured accounts. For long-termed goals, this method is ideal, as it generally offers a much higher rate of interest compared to a regular or standard savings account.

The interest rate usually is dependent on the amount of money in your bank account; larger balance means higher interest.

4. “CD” or Certificates of Deposit. This is a savings method requiring you to “loan” your money to your financial agency for a certain time frame, usually ranging from thirty days up to five years. Here, the longer the time span again, means higher interest.

Keep in mind that usually insurance companies offer better deals on interests compared to banks, so before you invest, compare rates first!

At certain times, when your goal is many years away, it can be a wiser decision to save money in a certain way that you are not drawn on using it other than the main reason for saving it. Deciding on the right financial agency such as a bank, credit union or insurance firm can bring about a lot of benefit in your finances.

 

September 23, 2012 Posted by | Money Management, Savings | , , , , , | 4 Comments

Every Little Bit of Savings Adds Up

Living on a budget is the key to financial freedom, but getting started can be frustrating. When we look at our expenses and see all of those bills we’re paying every month, it’s easy to throw our hands up in disgust. But what about all those little expenses we incur? You might be surprised to find out just how much they amount to.

It’s easy to dismiss cutting back on little things. A few dollars a month won’t make a significant difference in the big picture. But a few dollars here and a few dollars there adds up to a few more dollars. When you cut back in a lot of small ways, you could end up with a lot more money at the end of the month.

 

 

 

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September 23, 2012 Posted by | Savings | , , , , , , | 1 Comment