Posts Tagged ‘Saving Money’

The Benefits Of Saving Money On A Regular Basis

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Posted 16 Dec 2010 — by Admin
Category Saving news

Over the past few years, I have been saving money each month, not for any particular reason like for example to buy a house, but just in case something big went wrong. It is in a way a form of self-insurance. In this article I write about the benefits of doing this and about my own personal experiences, i.e how hard or easy it has been saving in this way.

Maybe I am being paranoid but I always seemed to have far less money than what my friends had. Four years ago a group of us went to Spain for a two-week holiday. I will never forget the moment when one of my friends asked how much money each of us were taking on the holiday. We all answered one by one and to my horror not only did I have the least amount but I had around two hundred pounds less than the next lowest person. It was not because I was being tight, it was because I did not have anymore. It had actually been a real struggle to save up this much.

When I arrived back from this holiday I decided that I needed to change my attitude on financial matters. I read a few books and spoke to a number of people about the best way for me to move forward. I did not want to have to struggle next year if there is to be another holiday for example.

I believed the answer was to start saving an amount every month which would leave my account via direct debit. I was the type of person who would basically spend whatever I had or earned. If it was in the bank therefore I would spend it. It was to leave my account via direct debit I would have no way of course to spend it.

I set up one of these savings policies and started it a modest 30 a month. I am very pleased to say that it did not exactly have a major negative impact on my social life. The policy itself was in some way linked to the stock market and this itself was quite exciting, sad I know. After a year I received a statement through the post and I was quite happy to see that I was actually worth something for a change. I then decided to increase the amount that I was going to save to 50 a month.

In life you never really know when something is going to go wrong, for example your car breaking down, the washing machine packing up or the need for some improvements to your house. By saving in the way that I know do makes these issues far less stressful to deal with as I have the funds readily available to remedy the situation.

At times of course I have enough money saved to splash a bit on say a holiday or a new car.

I would strongly advise other people to commence saving on a regular basis as it has certainly given me a piece of mind.

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Spreading Your Investment And Savings Risks

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Posted 02 Dec 2010 — by Admin
Category Saving news

The world stock markets are going through quite a turbulent period at present and on average around ten percent has been wiped off some of the leading markets over the last month. In this article I write about how on a personal note I try to save in a series of different financial products which helps me to spread the risk, including when we have these stock market falls.

I started saving money on a regular basis about five years ago. At this stage the stock market in the UK had just had some dramatic falls after the terrorist attacks in New York. I wanted to build up a kind of rainy day fund and decided to invest monthly premiums into a unit trust. I started saving 50 a month and over time I increased this figure.

I have to say that I have been very lucky as my investment has done very well, I have even over the last couple of years cashed in some of the units to pay for our family holidays. At the start of this year the stock market in the UK was showing its highest levels in five and a half years.

In the five years that I have been investing, I have bought and now own a large number of units in this unit trust fund. What it now means however, is that if the stock markets have a period just like the one it has had, it costs me financially on paper quite a lot of money.

I now believe that my exposure to the stock markets is high enough and have decided that I will leave the units that I have invested in the fund as they are, but that I will not be adding to them. Instead I am going to put my regular savings into one of the high interest regular savings online bank accounts. This of course is a way of spreading the risk.

I have no idea which way the world stock markets are going to go over the next few months. Many people are saying that the United States interest rates may rise and that this could have a damaging affect on world markets. There could well be another major terrorist attack which could of course result in dramatic stock market falls.

I am hoping that the stock markets will continue to rise in the same way that they have over the last five years and that the falls over the last few weeks are just a blip. I just think that I have enough money invested and would like to start building some form of other savings in a safer type of environment.

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Spreading Your Investment And Savings Risks

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Posted 25 Nov 2010 — by Admin
Category Saving news

The world stock markets are going through quite a turbulent period at present and on average around ten percent has been wiped off some of the leading markets over the last month. In this article I write about how on a personal note I try to save in a series of different financial products which helps me to spread the risk, including when we have these stock market falls.

I started saving money on a regular basis about five years ago. At this stage the stock market in the UK had just had some dramatic falls after the terrorist attacks in New York. I wanted to build up a kind of rainy day fund and decided to invest monthly premiums into a unit trust. I started saving 50 a month and over time I increased this figure.

I have to say that I have been very lucky as my investment has done very well, I have even over the last couple of years cashed in some of the units to pay for our family holidays. At the start of this year the stock market in the UK was showing its highest levels in five and a half years.

In the five years that I have been investing, I have bought and now own a large number of units in this unit trust fund. What it now means however, is that if the stock markets have a period just like the one it has had, it costs me financially on paper quite a lot of money.

I now believe that my exposure to the stock markets is high enough and have decided that I will leave the units that I have invested in the fund as they are, but that I will not be adding to them. Instead I am going to put my regular savings into one of the high interest regular savings online bank accounts. This of course is a way of spreading the risk.

I have no idea which way the world stock markets are going to go over the next few months. Many people are saying that the United States interest rates may rise and that this could have a damaging affect on world markets. There could well be another major terrorist attack which could of course result in dramatic stock market falls.

I am hoping that the stock markets will continue to rise in the same way that they have over the last five years and that the falls over the last few weeks are just a blip. I just think that I have enough money invested and would like to start building some form of other savings in a safer type of environment.

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Saving money through investing in real estate

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Posted 30 Sep 2010 — by Admin
Category Saving news

The much-hyped concept these days, which is making its rounds in global economic platforms, is how to save money through investing in real estate. Investors all across the globe are trying to come up with innovative ways and means on how to make money fast. Many authors have also penned several books on how to grow money through investing in real estate charting out innovative approaches. Unlike other investment tools, real estate investment gives you the freedom to make or save money easily.

Recent media reports revealed that most senior citizens are now heavily relying on long-term investment plans in order to ensure a safe and hassle free retired life. If you want to create wealth then buying and holding is the best option for you. Saving money through investment requires a proper assessment of market scenario and subsequent risk management. But, with clever moves and right investment tactics you can really augment your income at a much faster rate than by simply saving money. Media reports focusing on business tactics worldwide are unanimous on this issue. Most first-time investors fail to understand how to use credit as a money-augmenting tool in an investment. So the investing tips outlined below may come handy in case you are contemplating with the idea of saving money by making investments.

-Lowering your tax bills – Investments on real estate allow various tax-breaks and thus lower your tax bills. It has become a popular mode of saving money these days.

-Smart asset management – Managing your asset properly also goes a long way in saving money and creating wealth. It means that if you take care of your property in time, it will save you from spending extra amount when the condition of your house gets totally out of control. It is more like a stitch in time saves nine. Another factor that adds to your bank balance is the market value of your property being sustained at a profitable rate by managing it well in advance.

-Increasing cash flow through augmenting monthly rental – Another easy and popular way of creating wealth is to increase your monthly rental for your rented out properties, which could result in producing hundreds of pounds every year.

To avoid making bad investment plans you should always read the term of an existing deed. You should also try and learn from other peoples’ mistakes. You can go through the directory of real estate investing club and association listings to make proper decisions. Investing in real estate in order to make and save money is no more a fantasy for you. Media reports focusing on financial institutions offering investment advisory services in global markets hit the headlines recently and they are also being embraced worldwide.

In simple words, saving is all about managing your wealth rather than wondering where it went. So, next time when you think of saving money ponder over the options of investing money in different ways outlined above and grow richer.

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Saving money through investing in mutual funds

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Posted 23 Sep 2010 — by Admin
Category Saving news

A good mutual fund company will know how to use the investor’s money to buy and sell large amounts of securities. The aim of mutual fund companies is to increase their profit margins. The individual who invests on mutual funds also has a similar objective of squeezing maximum profit out of it. It’s a win-win situation, only if you know how to make the most out of investing in mutual funds and thus saving your money from being wasted. When selecting funds, be sure to take note of your goals and ambitions so that you can invest in the right fund.

Investing in mutual funds has emerged as the new buzzword amongst consumers in order to save money. But, for first time investors it requires a little bit of knowledge about the current market scenario. You need to keep in mind that when you are buying mutual funds you are actually investing in the shares of a corporation. You need to master the art of maximizing returns and minimizing risks to benefit most by investing in mutual funds. In terms of variety, flexibility and liquidity mutual funds are perhaps the best option.

A recent media poll confirmed that mutual funds are the most popular choices amongst investors primarily because of its risk-free nature. Mutual funds have its own share of advantages, which make it a preferred choice amongst most investors, big or small. Many people see it as an effective tax saving tool. Mutual funds have infact, took precedence over the traditional options of national saving certificates and public provident fund to save money.

If you are a starter, there are many courses which will provide you a veritable mine of information on how you can buy and sell your mutual funds to extract the maximum profit and save money through investing.

Higher risk mutual funds, however, work best when you want to make short-term investments. The Internet these days is replete with information on mutual funds. Even investors with no investment experience go for mutual funds to save money. Many consider award-winning funds as the most suitable investment option for people. But you need to bear in mind that the funds falling in the award-winning category may not suit your interests best.

Careful fund management and proper market survey can go a long way in helping you to save your taxes through mutual funds. Do not be hesitant to take the help of mutual fund brokers in case you are not sure about whether you are taking the right move or not.

Winning the battle of life becomes all the more easier with investing in mutual funds. So it makes sense to invest in mutual funds to make you capable enough to sail through even the worst financial situations of life without having any tension.

If retirement blues is haunting you or you are worried about your kid’s future take heart. With investing in mutual funds you can save enough money to lead a happy and peaceful life. Let mutual funds ensure that you do not work for money, instead the money works for you.

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Saving Money over the Christmas Period

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Posted 16 Sep 2010 — by Admin
Category Saving news

Christmas is one of the busiest times of year. There are so many things to think of. People have usually got family or friends visiting, the Christmas meal to cook, gifts to buy and wrap and decorations to put up. It can also be a very expensive time of year. Many people report huge regrets every January when they have over spent on Christmas presents and all the related costs.

If you are worried about finances this Christmas, or want to cut down a little on expenses there are a few simple money saving tips you can take.

Secret Santa

First of all there are gifts. Depending on the size of your family you may spend a lot of money on gifts over the Christmas period. One of the things you might consider doing is arranging a secret Santa. These are a great way to cut down on gift costs and can also be a lot of fun. How it works is you get a group of friends or family members together and put everyones name in a hat. Then you each pick a name from the hat at random. This is the person you buy a present for. The game guarantees that everyone gets a present while at the same time meaning that you only have to buy one present. You can keep the gifts anonymous or not depending on your preference.

Another thing you can look at doing this Christmas if you want to save some money is consider making gifts. You can bake cookies or cakes, or make gifts using some craft you are good at or enjoy such as knitting, cross-stitching or patch working. You can also make your own Christmas cards. This can be fun and many people will appreciate the personal touch.

Debt Consolidation

Christmas shouldnt be all about saving money, but it shouldnt be about falling into debt either. It is generous to give but no one expects you to give more than you can afford. If you are having trouble with debts then you shouldnt be over spending this Christmas. There are many things you can do to get debts back under control. One option would be debt consolidation. This means taking out a loan to pay off all your existing debts. The interest rates will be far lower than those on other debts such as credit cards and the savings will give you the chance you need to get your finances back under control.

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Saving Money Online with Digital Coupons, Freebies, and Comparison Shopping

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Posted 09 Sep 2010 — by Admin
Category Saving news

Saving Money Online with Digital Coupons, Freebies, and Comparison Shopping

The Internet is a great invention for many different reasons. But, did you know that it can be a great resource for saving you money when shopping? You no longer have to clip coupons out of the Sunday paper; you can find them right at the tip of your fingers just by knowing where to look!

Coupons

One of the easiest ways to save money on the Internet is by printing online coupons. All you have to do is type the search criteria “online coupon” in your favorite search engine and you are on your way to savings! Here are some examples of great online web sites that help you save money:

CouponSurfer CouponSurfer has almost 300 coupons from over 100 stores on their web site. Do you need new brake pads on your car? You can save up to 50% just by filling out the free registration form at CouponSurfer and printing their coupon. Other recent savings at CouponSurfer were a 40-cent coupon from Tropicana, a 50-cent off coupon from St. Joseph’s aspirin, and coupons from Pampers.

Hot Coupons Hot Coupons lets you type in your zip code or city name to find discounts offered in your area. You can find savings for local restaurants, automotive centers, health centers, retail stores, and businesses including real estate, lawyers, hotels, and doctors.

Also, pay attention to television commercials. Many times, companies coming out with a new product will advertise on television and list a web page where you can print a money saving coupon. A recent commercial from Febreze listed their web page address. By going there, you can fill out a form and have Frebreze mail you 20 in coupons for many of their products, including their latest electronic air freshener, NOTICEables.

Coupon Codes

There are also web sites that offer a percentage off online purchases. Ultimate Coupons is a great example of this type of online savings site. Ultimate Coupons constantly updates their site with the latest in online savings. A recent search showed coupons for 10% off at Target.com, 15% off Pet Supplies at Petco, and 5 off 20 on Digital Photos & Gifts at Snapfish. Many times, if you search online, you can also find codes for free shipping to places like Macys, Sears, Amazon, and Old Navy.

Freebies

Many web sites have user forums where people can share online savings and free offers with each other. Big Big Forums is an excellent place to visit to find coupon codes, freebies, and reward programs. Members (there are over 31,000) post different offers they have seen on television or found online. There are folders for each particular type of offer, so it is very easy to find things here. Once you register for free, you too can post coupon codes and freebies. You may even be lucky enough to get in on a free subscription to a magazine such as TV Guide or link to a free Schick Quattro razor.

Comparison Shopping

A great feature of many Internet web sites is that they will give you price comparisons of items for which you are looking. Froogle is Google’s shopping search engine. All you have to do is type in the name of what you are looking for and Froogle does the rest! It will find web pages selling the item you are looking for and lists the price. That way, you can find the best deal available. There are several other web sites that will help you to do comparison shopping such as MySimon and Bizrate. Letting these sites help you find the best price can make every online shopping experience enjoyable.

Other web sites can save you money online too. You can refinance your home loan and find the lowest interest rates by searching at Ditech or search for the cheapest car insurance at Geico. How do you learn about all the sites available? The best way is to pay attention to the media. Commercials, newspapers, and magazines are always listing web sites. Also, join a forum such as Big Big Forums. When people share ideas and resources, it can be great for your pocketbook. Remember that every coupon and savings opportunity adds up!

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Saving Money On Magazine Subscriptions

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Posted 02 Sep 2010 — by Admin
Category Saving news

If you are interested in subscribing to a magazine or different magazines, you may be wondering how you can fit the costs of subscribing to a magazine or magazines into your overall budget. In this day and age, many people find it very difficult to make ends meet, to maintain a wise budget. They simply do not have a great deal of discretionary money to be used on such things as magazine subscriptions.

With that said, there are some ways in which you can save money on magazine subscriptions. One of the easiest ways you can save money on magazine subscriptions is through the Internet and World Wide Web. There are now many websites in operation that offer magazine subscriptions at reduced costs.

In addition to websites that market magazine subscriptions at reduced costs, there are also Internet websites that market magazine package deals. In other words, you can obtain a number of different magazine subscriptions that you might not otherwise be able to afford for a low cost.

In the brick and mortar world, you can stop by the local bookseller and visit the magazine section. By flipping through magazines, you can find subscription cards that offer reduced costs for subscriptions to these publications. For example, they might offer upwards to 75% off the regular price for these magazines.

Also keep in mind that by subscribing to a magazine for an extended period of time, the publication likely will knock a good deal of money off of the overall subscription cost. For example, you can save a great deal of money by subscribing to a magazine for a period of three years as opposed to a single year subscription.

Finally, there are some charities that sell magazine subscriptions to raise money for their work and causes. In this regard, these magazines are made available to people at a reduced cost. In addition, a part of what you pay for the subscription is donated to the charity in order to allow it to further its good works.

When all is said and done, by taking the time to shop around, you can save money on magazine subscriptions. You will be able to work the costs of receiving magazines into your overall budget. By keeping an open mind as to where to look for reduced costs magazine subscriptions you will be able to have the publications that you want at a price that you truly can afford.

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Saving Money at the Pump

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Posted 26 Aug 2010 — by Admin
Category Saving news

A recent report in the Financial Times predicted that the average price for a gallon of gasoline in the United States may soon reach 3.00 . . . that’s the bad news! The good news is, skyrocketing gasoline prices have caused many Americans to start looking for ways to either cut back on the miles they drive or find ways to make their cars more fuel efficient. That’s good news because these fuel-saving attempts and attitudes will help reduce the fuel emissions that regularly foul our atmosphere. The question remains, just what do we need to do to spend less on gas and reap the reward of cleaner air; a few tips follow:

Get your car in shape

A well maintained car will burn less gas than one that has been neglected:

1. Keep your tires properly inflated; check your car’s user’s manual or look for the sticker that gives you the recommended tire inflation pressure. If your tires need replacement, look for tires that are rated as LRR (Low Rolling Resistance). Proper tire inflation along with the LRR tires will be your biggest fuel savers.

2. Change your motor oil at the manufacturer’s recommended intervals and be sure to use the recommended ‘weight’ (viscosity) motor oil. While changing your oil, change the oil filter and check the engine air filter — the air filter may not need to be changed every time you change your oil but it should be checked every time.

3. When you buy gas, pay attention to the octane rating marked on the gas pump — it should fall within the octane range recommended by your car’s manufacturer.

4. Buy your car a ‘tune up’ at the manufacturer’s recommended interval — on modern cars a tune up is mainly replacing the spark plugs, checking the engine timing and checking the spark plug wires.

Drive smart

How, where and when you drive are equally important factors in your attempt to save gas money and keep the air clean:

1. Do you really need to drive? Every trip to the store does not require car keys; walking a couple blocks will not only save your gas money it will help keep you in good health. More than just a couple blocks? Dust off your bicycle (or buy one) for those trips that are not more than two or three miles. Also consider public transportation and car pooling to and from work as gas-saving alternatives to your ignition key. If telecommuting is an option for your job, take it!

2. If you do need to drive, plan your route! Sometimes the shortest route has the most traffic congestion so you are wise to take the longer, less-traveled route to save gas by not being stuck in slow traffic. If possible, arrange your work schedule to allow you to drive to and from work in less congested traffic.

3. Slow and steady wins the race. When pulling away from a stop light or stop sign, go easy on the gas pedal and gradually increase speed — jackrabbit starts are really bad for fuel efficiency . . . sudden stops don’t help either, if you find yourself jamming on the breaks, you are driving too aggressively — slow down and ‘mellow out’!. When you’re finally on the highway, keep your speed at the posted speed limit and, if you have a cruise control use it.

Some other fuel saving tips

1. Don’t spoil your car’s aerodynamics by placing luggage or other things on top of your car.

2. Keep your car windows closed; in the summer air conditioning won’t effect your gas mileage as much as open windows.

3. Travel as light as you can — more weight in your car equals poorer gas mileage.

4. If you rent a car you’ll be buying your own gas so rent the most fuel-efficient car available.

5. If you are ready to trade your car in for a new one, give serious consideration to a hybrid vehicle or at least a vehicle with the best gas mileage rating you can find.

Rising gas prices will probably be with us for quite a long time so take some of these tips to heart to save money and save our environment.

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