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

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

Why Banking Works

When it comes to financial management, even business professionals reach a consensus as to what is the most effective, reliable, and secure means to manage your money, and that is through the bank. Your bank is an effective means to manage your bills payments, keep track of your transactions, receive your income and whatever extraneous cash inflow, and help you save effectively.

The last one is perhaps the most obvious feature of the bank that people do not take advantage of. A bank, being a financial intermediary, can actually help you save money efficiently.

Here’s how. Continue reading

September 23, 2012 Posted by | Money Management | , , , , , , | 6 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

Seven Ways to Save Money on Gas

With gas prices going up and down, and the economy being as unstable as it is, saving money on gas is always a great idea.

Here are seven ways to save money on your gas bill.

  1. The first thing that you need to do is to make sure that every vehicle you own is properly maintained. Make sure that you get the oil changed regularly, change air filters, inflate the tires properly and keep the engine tuned. If you keep your vehicle well-maintained, you can decrease your monthly gas bill by up to 10%.
  2.  Trade your vehicle for a car with better gas mileage. Having a huge car or truck might be nice when you’re driving down the highway, but it certainly isn’t great whenever you are filling up at the pump.
  3.  Look for gasoline blends and use them when possible. The E – 10 blend is a blend of gasoline that contains up to 10% ethanol. If you can find this, you can save money on gas because it is usually cheaper.There are also other vehicles that run on different blends of up to 85% ethanol. You might consider getting one of these specialized vehicles.
  4.  Get a vehicle that is not powered by gasoline. If you can purchase a car that is either a hybrid or hydrogen powered, you can save a great deal in fuel costs. There are even vehicles that run on natural gas. A gas powered vehicle can be converted into one that runs on natural gas for about $8000.
  5. Run all of your errands in one trip. Instead of making 10 different trips to 10 different places, map out all of your errands and then run them all in one trip.
  6. Do not let your car engine idle. You do not even need to let your car engine idle to warm up. The best way for you to get your vehicle to warm up is to drive it. Any time you’re going to leave your car idling for more than 10 seconds, you need to turn off the engine.
  7.  Carpool when possible. If you can carpool with a coworker or friend when you’re going to work or running errands, you could possibly cut your gas bill up to 50%.

 

 

September 23, 2012 Posted by | Savings | , , , , | Leave a comment

Create A Family Budget

For singles, creating a budget is relatively easy. They tend to have a good handle on how much money they have coming in, and when tracking expenses, they only have their own to think about. But creating a family budget is a whole new ball game.

Most families have multiple sources of income. And when there are multiple spenders, that makes things much more confusing. This is one of the main reasons that families lack a formal budget. But having a budget and sticking to it can greatly improve a family’s financial outlook.

 

 

Continue reading

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