D' Finance Bench

The Right Place To Sit At For Financial Advises

Saving Money and Your Bills: Tips on How to be Money Wise

I used to love going to the supermarket. But nowadays, I make my trips short and sweet. I have a list and stick to it. My trips to the supermarket made me realize that it’s getting harder and harder to stretch that dollar. With all those bills that you have to pay in a month, you really can’t do anything about it but to save.

I read once that it’s not how much you earn that ensures a comfortable and happy future; but it’s how much you save and keep saved that matters. That is why it is really important to save money especially when it comes to your monthly bills. Some people do not just realize it but saving on their monthly bills can provide the best money-saving opportunity for them.

Here’s how: Continue reading

Advertisements

September 23, 2012 Posted by | Budgeting, Money Management, Purchases | , , , , , , , , , , , | 6 Comments

Starting Young: Teaching Teens to Save Money

In the past few years, teenagers have earned billions of dollars with part-time and summer jobs.

Some have spent most of what they earned, while others saved most or even all of it for a big purchase, or for their college education.

Kids these days are becoming more and more aware of their family’s source of income and financial status. They apply these money-spending principles when they venture out on their own.

Thus, it becomes more of a parent’s responsibility to start “training” their teenage kids to use their money wisely.

Here are some ways on how you, as a parent, can teach your teens to save those hard-earned bucks: Continue reading

September 23, 2012 Posted by | Budgeting, Savings | , , , , , , , , , | 8 Comments

Top 10 Tips for Saving Money During the Holidays

Holiday spending does not have to put a burden on your wallet. Here are 10 ways to save money during the holidays.

1. The first thing you can do is to start early with your Christmas shopping. If you shop early, you won’t feel the need to buy the first thing you find and possibly pay more.

2. The second thing you can do is to check your gift list and to decide if there are people that you really don’t need to shop for. If you don’t see the person all year, you might consider leaving them off the list.

3. Have a budget and stick to it. Make sure that you have a firm dollar amount for your budget before you go shopping. Don’t overspend.

4. Shop with cash or a debit card instead of credit cards. By spending only money that you actually have in your wallet or in your bank account, you will automatically stick to a budget.

5. Make homemade gifts for a personal touch and for less money.

6. Don’t buy gifts for yourself whenever you’re buying gifts for everyone else. You’ll get enough for Christmas as it is.

7. Buy cheaper wrapping paper. The paper is simply going to end up in the garbage anyway, so don’t pay five times as much for the fancy stuff.

8. Forget the Christmas cards. Not only do you have to go out and buy the cards themselves, but then you have to spend all the time writing them out and addressing them. To top it all off, you have to pay postage to send them out.

9. Make a gift list for the people you buy for. Have an idea what you’re buying before you even leave the house.

10. Save money when you can. Make sure that you shop for sales and you don’t have to buy the most expensive items.

By following these tips, you will be able to cut down on your spending for the holidays and have a debt-free Christmas. Knowing that you saved money, stayed within your budget, and did not pull out the plastic in order to pay for anything will make your holiday even merrier.

 

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

Easy Household Budgeting Strategies

Most people live paycheck to paycheck, and spend what they want whenever they want. But if you keep up that pattern long enough, you’ll soon discover that the money runs out before you’ve paid all the bills, and there is never any left over for special purchases or holidays. To get control of your household spending and start saving you will need to set up a household budget.

The thought of having to stick to a budget might make you cringe. It sounds restrictive and boring. But if you are serious about creating wealth, a budget can actually give you freedom. You will have control over your finances, know where your money is going, and have a plan to reach your financial goals. Not spending on a few things that you can do without right now means you will be able to spend on larger, more important purchases in the future.

 

Here are some easy household budgeting strategies you can use to get started.

  • Find out how much you earn

The way you’re paid can determine how you budget your money each month. If you’re paid on a weekly basis, you can calculate your budget based on four paychecks a month. That means you’ll have four extra checks throughout the year to help with extra expenses. If you’re paid bi-weekly, you can calculate your budget based on two paychecks a month, and have two extra checks throughout the year. If you’re paid monthly, calculate your budget based on the monthly amount. You won’t have extra checks throughout the year, so you’ll need to be careful in budgeting for the extras. For those who aren’t paid regularly, figure out your annual income and divide it by 12 to determine your monthly income.

  • Track your expenses.

Your fixed expenses will be easy to figure out. These are the items that stay the same from month to month, such as your mortgage, car payment, and the like. Your other expenses can be trickier to calculate. To find out how much you really spend in a month, carry a notebook with you and write down everything you spend for the next 30 days. This will tell you how much money you’re spending, and where it is all going.

  • Figure out the difference.

Now, find out the difference between what you spend and what you earn each month. If you have a surplus, a portion of that should be budgeted for investments or savings. If you have a shortage, you have one of two choices to solve your budget woes: lower your expenses or increase your income. You may even want to do both.

  • Lower your expenses.

Lowering your expenses is the most obvious way to solve a discrepancy between your income and your spending. Simple changes made over time, such as renting a video instead of going to the movie theatre, can add up to big dollars in your bank account. Others may be lifestyle changes, such as giving up one car and taking public transportation instead.

Taking control of your finances by setting up a household budget is an important first step to creating wealth. As you begin to make wise decisions about where your money goes, over time you will find opportunities to spend less and have more money to invest.

September 23, 2012 Posted by | Budgeting | , , , , , , , , , | 3 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.

 

 

 

Continue reading

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

How To Modify The Terms On My Loan?

Today, consumers are now allowed to modify the terms of their loans if they are incapable of paying the premium as stated on their original contract. Note that you cannot just modify your loan simply by declaring to the lender that will not be able to pay because you are broke. You must show proofs (legal papers, e.g bankruptcy declaration) that you are incapable of re-paying your financial obligation.

Here are the common methods used by majority of consumers to lower their loan terms. You may ask a professional financial adviser of how these things run and the complete set of documentation required for your case. Continue reading

September 21, 2012 Posted by | Loans, Mortgage | , , , , , , , , | 1 Comment