For those of you that have really young ones at home, I found this at www.slickdeals.com
LINK
Wish they had this during Christmas!
January 8, 2009
January 6, 2009
Best Advice
There are no shortages of advices. Family, friends, relatives are always giving you their opinions whether you want to hear them or not. There are a few though (whether or not it's from someone you like) that are helpful and we can benefit from listening to it.
Empty out the change from your pockets when you get home and save them in a jar (or a can, bank, whatever you can find).
At the end of the year you can use it for Christmas gifts, buy something for yourself or better yet put it into savings. Remember a penny saved is a penny earned! You are probably thinking - a penny?? What good is a penny? If you have 100 pennies, you can order from the McDonalds $1 menu. 200 pennies? You can order TWO items! Now, doesn't that put everything in perspective?
Don’t buy anything you can’t pay for in cash
If you have to use a credit card to pay for it, then don’t buy it. Try to save for it instead.
Which brings us to the next point.....
Pay your credit card in FULL each month
Those interest rates are high and why waste money paying towards finance charges and interest?
Save atleast 10% of your paycheck
Having it automatically transferred into a savings account helps. If you don’t see it, you won’t spend it. Always pay yourself first! I have an ING Savings Account which I use for this purpose. If you need a referral, E-mail me!
Make/follow a budget
Making a budget is easy enough but following it is the hard part. If you can stick to the budget then your money goals will be that much easier! This is one of my 2009 goals.
Live below your means
I think this is one of the big ones. It’s easy to increase your expenses when you get a raise, but try to live off the old income. Differentiate between needs and wants. No girls, new shoes are NOT a need!
Savings/Investing wisely leads to financial freedom!
Empty out the change from your pockets when you get home and save them in a jar (or a can, bank, whatever you can find).
At the end of the year you can use it for Christmas gifts, buy something for yourself or better yet put it into savings. Remember a penny saved is a penny earned! You are probably thinking - a penny?? What good is a penny? If you have 100 pennies, you can order from the McDonalds $1 menu. 200 pennies? You can order TWO items! Now, doesn't that put everything in perspective?
Don’t buy anything you can’t pay for in cash
If you have to use a credit card to pay for it, then don’t buy it. Try to save for it instead.
Which brings us to the next point.....
Pay your credit card in FULL each month
Those interest rates are high and why waste money paying towards finance charges and interest?
Save atleast 10% of your paycheck
Having it automatically transferred into a savings account helps. If you don’t see it, you won’t spend it. Always pay yourself first! I have an ING Savings Account which I use for this purpose. If you need a referral, E-mail me!
Make/follow a budget
Making a budget is easy enough but following it is the hard part. If you can stick to the budget then your money goals will be that much easier! This is one of my 2009 goals.
Live below your means
I think this is one of the big ones. It’s easy to increase your expenses when you get a raise, but try to live off the old income. Differentiate between needs and wants. No girls, new shoes are NOT a need!
Savings/Investing wisely leads to financial freedom!
January 5, 2009
2009 Goals
It's a New Year and a new beginning to your financials! I have to admit that I always spend time making a budget then I follow it for about a month and then it's forgotten. This year I am GOING to make a budget and stick to it!!
I am also going to:
Max out my Roth IRA ( Contribution limits for 2009 is $5,000 if you are age 49 and below and $6,000 if you are above 50).
Contribute to 401K (at least up to my employer's match)
Open a 529 Savings
Contribute to my Emergency Fund
Pay towards the Student Loan principle
I am sick of the student loan payments always going to the interest rate. I WILL make a dent in that loan!
What are your goals for the New Year?
I am also going to:
Max out my Roth IRA ( Contribution limits for 2009 is $5,000 if you are age 49 and below and $6,000 if you are above 50).
Contribute to 401K (at least up to my employer's match)
Open a 529 Savings
Contribute to my Emergency Fund
Pay towards the Student Loan principle
I am sick of the student loan payments always going to the interest rate. I WILL make a dent in that loan!
What are your goals for the New Year?
December 31, 2008
New Year
HAPPY NEW YEAR!
I wish everyone a safe and properous New Year!
Hope this new year brings you lots of peace and happiness!
December 30, 2008
Savings
Change your financial life around in 2009! Analyze your savings/expenses and make sure you set goals as to what you want to achieve in the New Year!
Pay Yourself First
There are always going to be reasons why you don't have enough money to save. If you have the money automatically deposited into a savings account, you won't even miss it.
Cut Down on Expenses and/or Increase Your Income
Cutting down expenses, easier said than done right? If your income does not cover all your expenses, then increase your income. You can ask for a raise, tutor, sell some of your unwanted things, etc. Eating outside often can add up!
Keep Track of Your Spending
You can track your spending with a notebook or with a spreadsheet. Tracking can help you analyze where most of your money is going. From my experience, writting expenses down makes me think twice about what I buy. If your expenses are too high, you might want to think about setting up a budget.
Emergency Fund
Make sure you have an emergency fund which covers atleast three months of your expenses. Some say six months is ideal. You never know what's going to happen, especially in this economy. Better to be prepared!
Your goals might be to save for a house, start an emergency fund, maximize your 401K, or to contribute to a retirement account. Whatever the goal might be, make sure you stick with it, and good luck!!
Pay Yourself First
There are always going to be reasons why you don't have enough money to save. If you have the money automatically deposited into a savings account, you won't even miss it.
Cut Down on Expenses and/or Increase Your Income
Cutting down expenses, easier said than done right? If your income does not cover all your expenses, then increase your income. You can ask for a raise, tutor, sell some of your unwanted things, etc. Eating outside often can add up!
Keep Track of Your Spending
You can track your spending with a notebook or with a spreadsheet. Tracking can help you analyze where most of your money is going. From my experience, writting expenses down makes me think twice about what I buy. If your expenses are too high, you might want to think about setting up a budget.
Emergency Fund
Make sure you have an emergency fund which covers atleast three months of your expenses. Some say six months is ideal. You never know what's going to happen, especially in this economy. Better to be prepared!
Your goals might be to save for a house, start an emergency fund, maximize your 401K, or to contribute to a retirement account. Whatever the goal might be, make sure you stick with it, and good luck!!
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