Personal Money Management: How to Save More Money Easily

Personal Finance (Photo credit: 401(K) 2012)

Saving money is easier than what most people think. Here are some valuable tips for you to save up easily for the future:

Savings before expenses

Come payday, immediately deduct money for your savings before taking on expenses. That way, you automatically save twice each month. It would be best if you also have a set amount for expenses so you have a value you can stick to. This in turn will help you in sticking to your budget. If you happen to spend less than the usual, the excess should go to your savings.

Download personal finance apps on your gadgets

The emergence of tablets and smartphones has paved the way for developers to come up with useful applications for both iOS and Android platforms. One good example of a personal finance app on Android is MoneyWise. This app allows you to add and even automate additions and deductions from the balance you have provided. You can also have multiple accounts which are easy to track and manage with its intuitive interface. Similar apps are available on Google Play and on the Apple iTunes Store.

Never spend money that you do not have

A credit card is deemed important so that an individual can build his credit history, but most people often succumb to the powerful plastic because they cannot help it - it is all too tempting to spend. You can make the most of a credit card by using it when you know you can pay the full amount come next billing date. If you plan on purchasing something that you know you cannot pay the following due date, think twice of buying it. The interest rates for credit cards are higher than ever, and you might be wasting hundreds, if not thousands for interest rates.

Go shopping when there are discounts

Be frugal when it comes to shopping by only going to the mall when there are mall-wide sales. You can save as much as 50% off items when you buy them during sale season. Avoid impulse splurges. A good thing to do when attracted by an object is to think it through for a week. Most of the time, people forget about what they have seen in the mall. It only means that wants are fleeting unlike needs which are important and cannot be avoided.

Invest your money

Investing is one way to make your money grow. For starters, it is best to start with investment options that are low risk and requires just a bit of your money. A short-term time deposit in your bank is worth a shot. From that point, you can observe and analyze the trends in business and finance. Read books pertaining to mutual funds, stocks and equities and even attend seminars before gambling in these more high-risk investment options.

Curbing spending behavior is a lot easier when you know what to do, and when you know how to set priorities. These tips are small ways down the line to a prosperous life ahead of you.

Written by Peter Coppola, a personal finance and insurance researcher. He enjoys writing for various personal finance blogs. Click here to get your credit report.

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Car Insurance Driving You Mad? How to Reduce Your Premiums

A car crash on Jagtvej in Copenhagen, Denmark. (Photo credit: Wikipedia)

Insurance unlike satellite navigation and alloy wheels isn't something that’s an optional extra; it’s a legal requirement for anyone driving on the roads, whether you’re on a motorbike, driving a commercial vehicle or your own family car. However, as we’re all well aware, the prices of annual insurance can be rather substantial – actually pricing a lot of people off the roads in recent years, forcing them to sell their cars because they just can’t afford to drive them.

Cars are a lot of people’s pride and joy, giving them the freedom to come and go as they please, and to go to places that they wouldn't have access to if they couldn't drive, but when insurance companies price them off the roads it can be somewhat soul destroying. Take new drivers as an example, there is always a risk that they’ll be involved in accidents while learning or in the early stages after passing their test and therefore insurers are skeptical of insuring them for fear of regular payouts and the price goes up and up. But short of a miracle, what can you do about it? The easy answer is ‘nothing’, but the easiest answer isn't always the right one.

Here are just three top tips for reducing your car insurance and making payment simpler, without having to sell off your body parts! Obviously there are far more than three methods, so feel free to add your own:

Security. All cars come fitted with locks, this much is obvious, but the more safety features you have fitted, the more favorably the insurers will look upon you and your vehicle. For example, if you have a steering wheel lock and immobilizer fitted as standard – along with an alarm – you’re much more likely to be paying less than someone who has the same vehicle but without the security features. Where you leave it overnight is also key, as vehicles are more at risk when parked on the side of the road. If you have access to a locked garage, then storing it there will significantly reduce your premiums.

Reduce your mileage. When you make your application for insurance, you’re asked to fill in how many miles you think you travel annually. Obviously, the more you drive the more likely you are to be involved in an accident and that is taken into account. However, if you can find any way of cutting how many miles you drive, this price will come down. For example, if you've got a five-mile drive to work, could you get public transport or cycle instead?

Sensible cars. While they might be our pride and joy, some cars by their very nature are expensive to insure. For example, a 2-litre turbo diesel is going to cost more to insure than a 1.2-litre petrol hatchback. If you’re finding that your insurance is just too high but you could be insured for significantly less on a more sensible car, put your sensible hat on and sell your existing model for that one – bringing in some valuable money and saving you more each year on insurance.

This article was written by Matt Rawlings, a UK-based writer specializing in providing financial advice.

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Winter Energy Saving In The Office

During the coldest season of the year business energy costs are rising though less comfort is enjoyed because some simply can’t afford it. How does winter impact your energy bills? 

Heating the office in winter

When heating systems are performing at or close to their rated maximum capacity, their efficiency decreases while the amount of energy utilised is growing. In other words, more electricity is used to provide less comfort. This is exactly why your energy bills are getting higher in winter. 

What happens?

Considerable temperature swings outside the building make you use heating equipment for longer periods, which requires more electricity. In fact, just a few days of extreme temperatures can cause your bill to get much higher. During periods of extreme weather portable heating devices are among the major sources of energy demand. However, devices working much harder to heat your office may still not be able to provide the temperature level you have set. 

What you should do

• Install a programmable thermostat. Set the thermostat to lower temperatures at night and weekends when there’s nobody in the office. 
• Ensure the thermostat is installed and operating properly as it only saves energy when programmed. 
• Make sure the thermostat is located in the right place as it should be able to sense the average temperature in the office. Avoid placing it in direct sunlight or near a heat source. 
• Remember that lowering your thermostat by just one degree results in 3% energy savings. Encourage employees to wear long sleeved jackets inside the office if necessary. 
• Get a humidifier. The air in the office can be too dry for employees to feel comfortable. Moister air feels warmer, and it can contribute to overall employee comfort if you set the thermostat lower. 
• Keep the doors and windows closed yet make sure that the air in the office is not too stuffy by airing the rooms in the morning before the working day starts. 
• Close window curtains and blinds at night to keep the heat in and open south-facing window curtains and blinds during the day. 
• Check window frames and fill them with silicone caulk if there are cracks in them. Replace any broken window panes. 
• Remember to turn off the lights when leaving the office, especially before the weekend. Try not to use lights for more than six hours a day to keep your energy use down. 
• Turn to professionals for a developed energy saving campaign tailored specifically for your business needs. Energy efficiency tips and solutions can help you achieve 35% savings on energy bills within a year. 

Although winter is taking its toll on energy bills, there are ways to reduce energy consumption and spending without compromising on comfort in the office.

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Icy Road Conditions in Winter

As temperatures plummet in the winter months, the roads become more treacherous, with darker days and longer nights just the tip of the iceberg (if you'll pardon the icy reference). There's also the low visibility caused by heavy rains and snow – plus the most dangerous conditions of all: icy roads and the hard to see 'black ice'. When some or even all of these conditions combine, then it can be all too easy to lose traction on the slippery road surface and have an accident. Here are a few driving tips to help cope with the winter roads and to help you avoid injury – or at the very least, a road accident claim:

General driving on icy roads

The most basic thing to remember when driving in wintry conditions is to drive more slowly than usual and apply your brakes more gently. Make sure your visibility is maximized with frequent use of the windscreen wipers and screen defroster. Be careful about deploying brakes in general – on icy roads they can often do more harm than good.

When making turns, changing lanes or stopping give other drivers more warning than usual with brake lights and indicators and keep your distance, as icy roads mean significantly longer stopping distances. If a skid does occur, turn your wheels into the direction of the skid to regain control.

Another point to bear in mind is that ice remains slippery even when it is melting. Driving more slowly allows your tires to push more water through their treads, thus increasing traction.

Recovering from traction loss

There's nothing quite like the gut-wrenching feeling of skidding while driving, and icy road conditions make skidding an ever-present danger. Fortunately, how to recover from a loss of tire traction is relatively straightforward and – providing you were not driving too fast or recklessly at the time – usually works, with the overall aim being to maintain the path to your original destination. To do this, you have to fight the natural urge to focus on objects you're trying to avoid, such as barriers, trees or people, relying on the direction of travel to do this for you.

Just immediately take your feet of both the gas and brake pedals, and keep your eyes on the safe area you wish your vehicle to travel to, before turning smoothly in that direction.

Do not slam on the brakes, as this simply locks your wheels and removes all directional control from them.

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No Need to Compromise with Your Life: Live a Stress Free Life with Personal Finance Help

Finance (Photo credit: Tax Credits)

Many parts of the world now faces economic crisis and the sad thing is most of its citizens are not equipped to handle financial difficulty. None of us was taught how to budget or even how to handle our credit cards wisely when those are the important inevitable things that we will be coping with when we grow up. The majority of us learn how to handle our finances through experience which will probably mean that we have been tested in the area and may have received a score of A+ or F. So what do we need to do now if we are currently being stressed in the economic condition of our family? Here is an elimination process on how to look for personal financial help.

Create a Budget

With or without personal financial help, this will provide the needed foundation in solving all monetary dilemmas. You need to have information on your income and the money that is going out of your pocket. List down on one side the essential expenses like mortgage, car payments and utility bills and on the other side, miscellaneous expenditures like date night, pizza deliveries and gifts.  If the difference between the income and spending is positive then you do not need financial help but probably investment assistant that will further expand your savings, however, if the opposite happened then you may be experiencing stress in making ends meet and financial help may really be important.

Check the Internet

Check the Internet for sites that give financial assistance. There are numerous sources online that provide advice and suggestion which are usually free. They give ideas on how to be debt free, how to understand the mortgage of your house and even how to be frugal this Christmas. Constant reading and research is the key to finding the answers that your need, but if that fails you may go to the next step.

Attend a seminar on finances

The Internet may provide sound financial assistance. However, there are questions that need to be dealt with verbally, personally and with a live person in front. Attending a seminar will be the answer to the problem. Usually they have the question and answer portion at the end of the sessions that gives anyone the opportunity to express their challenges and receive a corresponding advice. Before registering for a class make sure that you have checked their promotional materials for the program, topics to be discussed and the resource speaker so that you will know if the seminar will be able to provide you the needed help.

Hire an expert

If there are still stones unturned and the financial problem is too big to handle then the skills of a hired professional will surely provide a program on how to solve the crisis. These financial advisers usually see the general view of the situation and the small details that may provide the solution for the person’s predicament. Though their services are certainly not free, you can be sure that they will never leave you until the monetary hurdle is over.

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Budgeting for Dummies: a Beginner’s Guide

Balancing The Account (Photo credit: kenteegardin)

If you’ve never had to worry about your own finances before - maybe you’re a student or someone who has lived rent-free with their parents and you’re moving out on your own for the first time - then it can be a daunting prospect and a very grown-up feeling. When once all you had to worry about was the price of a pint, now you’re having to think about whether you can afford to put fuel in the car, do the weekly food shop or go to the cinema.

Budgeting for the month ahead can be a really effective way of getting your personal finances in order, and it really can be quite simple if you allow it to be so - you don’t have to be Carol Vorderman! All you really need is a sheet of paper, a pen and a calculator and you could find that you’re not only making savings, but improving your bank balance as well.

Here are my three top tips for budgeting:

Balance - Outgoings = Available funds. It really is that easy an equation. Take note of your current bank balance at the start of the month. Then, write down all of your outgoings, such as rent, an estimate of how much you’ll spend on fuel and the food shopping, and any other expenses such as credit cards and add them all together. This gives you a total of how much you’ll definitely be spending, leaving you with an amount of money to last you for the week or month ahead depending on how you choose to do it. Then, if you want to, you can divide that figure by days or weeks and that is how much you have free to spend. It really can be that simple.

Online discounts. Shopping on the Internet is becoming increasingly popular with people taking advantage of 24-hour opening, an abundance of stock and online-only discounts which can provide some substantial savings. These can include 20% off at the checkout or even buy-one-get-one-free offers, giving you a lot of money off a product that you would’ve paid full price for on the high street. The money saved can then be saved or used to pay off other bills - a real win-win situation.

Make payments on time. If you've got a bank loan, credit card or payday loan (visit www.paydayloan.co.uk to find out more), then make sure that you make the necessary repayments by the deadlines stated in your agreements or statements to avoid any extra charges being incurred that you haven’t budgeted for. If you make the minimum payments - or pay more if you have the spare cash - on time, then you’ll soon find the amount you owe decreasing, freeing up more cash to really improve the bank balance, allowing you to go out next Friday night for your mate’s birthday.

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