Simple Tips to Make Your Money Stretch Further

There’s maybe nothing worse than the horrible realisation that there is no money left in the bank and no way to pay the mortgage or rent on time as usual. Sadly, many people are struggling to cope financially nowadays. If you are finding money stress is causing your hair to drop out in chunks it’s time to take a new approach. It’s a skill to make money go further but here are some of the excellent tips from the financial experts to help you ensure every penny is well spent.

Click here to find out if you’re entitled to more money

You Must Budget

Do you have a budget for all the money that comes in and out of your house? Do you check where you have spent your last wages, reconcile your bank account and check your receipts? If not it’s about time you did. A budget is a valuable tool that should be used so you are fully aware of your current financial position in any given month. It’s boring but when you budget you will be able to see where money has been wasted, where you can make cuts and where you need to deal with urgent problems.

Loyalty Cards are Worth it

How many times have you found yourself being served at a till and the cashier asks you if you have a loyalty card? The next time it happens ask if you can have a form to apply for one. All those trips to various supermarkets can help you raise useful sums of money and earn coupons that will save you cash. Collect all of the cards for all the shops you go to and keep them in your wallet. A free fiver off here and there will add up.

Make Packed Lunches

Packed lunches are much cheaper than buying food on the go. It takes just a few extra minutes in the morning or before bed to make them up so it’s not like you don’t have time to do it. Make your own lunch and stop popping to the canteen or bakery for lunch. It’s not only a lot cheaper it’s often a great way of stopping yourself eating sugary snacks and fatty foods.

Shop for Bargains

Bargain Hunt isn’t only a great antiques programme on television; it’s also a savvy way to shop. When you’re in the shops you need to look for products that have been marked down. When you shop online head straight for the sales and clearances too, it’s amazing what bargains are out there ready to be snapped up. You also need to hunt around for the cheapest petrol prices, special offers and change your suppliers for cheaper tariffs.

See if You Can Earn More Money

If you’re really struggling, the only option is to try and bring more money into the home. Look for a second job or try and raise some funds through your hobby. If you are on a low income you may also be entitled to some extra help, click here for some useful phone numbers to learn about benefits that you might be entitled to.

Five Ways Internet Can Help Seniors Save Money on Everyday Shopping

A penny saved is a penny earned, we know it’s true, but for some reasons our mindset is becoming more and more inclined towards money making, and we are not so keen on saving money.

Now, money saving is not something meant only for poverty-stricken. Regardless of how affluent you are, you shouldn’t squander your money on something that is not priced for what it is. And when it comes to knowing the right price, or saving money on a particular purchase, there’s nothing as effective as the Internet.

Here’s how Internet can help seniors save money on everyday shopping …

Coupons & Discount Codes

Some of these discounts appearing on daily deals websites might sound too good to be true, but most of these deals and discounts are actually legit. Special deals and hefty discounts are one of the most effective ways for attracting customers, and businesses are always ready to offer heavy discounts to get new customers on board. And while it is not feasible to browse through various daily deals, or coupon code websites in search of a discount at an everyday item you are looking to purchase, you can simply search for a relevant deal at one of those deals search engines. It will save you a lot of time, and hopefully, a lot of bucks as well. 

Price Comparison

In any given market, you will find plenty of businesses offering pretty much the same products or services, but not all of them are fair with their pricing. You will find big differences in their prices, when you compare all of these products side by side, except that it is not possible at a brick and mortar store. However, a simple search on Internet will give you many options to compare prices and figure out the average market price. You can also search for available options within your budget like best tablets under 100. This will help you in bargaining and making sure you are not paying unfair prices.

Free Shipping

Even if you aren’t finding massive discounts or discounted prices, you can visit some online store and see if they are offering free shipping to your doorstep. Remember that getting the products shipped at your doorstep will mean you can save the trouble, time, and money that you’ll have to spend on going to the market and making a purchase.

Avoid Scams

It goes without saying that you should do the due diligence when you are looking to invest your life savings in a business or some scheme. Remember that there are many scam artists and businesses, promising big profits on incredibly easy terms. Then there are businesses which are not really scam but investing your money will mean certain risks that you are not ready to take.

The simplest way to check the credibility and reliability of a business is to search online. Usually, you will find a scam or rip-off report pertaining to the business that is involved in shoddy practices, and you need to stay away from that business to save your hard earned dollars. However, searching online is just the first step; it doesn’t mean you should blindly go ahead with the investment in case you don’t find anything online about that business. No news is not always good news.

Seniors Discounts

There are two types of discounts, first the regular ones that will be applicable to all and sundry, and then there are special discounts like discounts for veterans, student discounts, or group discounts. Similarly, some businesses offer special discounts to seniors, and the only way to keep tabs on all such discounts is to search online and keep track.

Ditch the Ramen: Saving Money by Replacing What You Use

It's the end of the month, you look in the cupboard for something to eat, and Ramen noodles sit staring you in the face. It's back to school time for your kids and you're shopping the thrift stores instead of the mall. What has gone so horribly wrong? Obviously something needs to give. If you're bank account is a deeper shade of red at the end of the month, you have changes to make. Here are just a few items in your home that you can replace to start saving money:

1.Central Air

No one wants to live in a sweat box during the summer. If you are looking to make a change, you may want to consider alternative ways to cool your home. Central air conditioning is an expense that you can do away with quite easily. It does take some getting used to, but turning off your whole-house cooling system can save you a great deal of money each month.

Plant trees outside of the windows that get the most sun during the mid-afternoon. Install light-blocking shades and curtains on these same windows. Put window fans in your windows and run them at night to cool off your home. Install an attic fan to draw up the hot air in your home during the day. Keep your windows closed during the hottest hours of the day and open them wide in the evening.

2.Utility Bills

Can you replace your utility bills? Not necessarily. What you can do, however, is sign up for budget payment plans, effectively replacing your high energy bills. Most utility companies allow their customers to sign up for a budget payment plan based on the customer's monthly consumption.

Paying in this way makes it easier to pay your bills when they are higher in the winter by spreading out your payments into equal monthly installments. For example, what may be $150 bill in the heart of the cold weather season could be an $80 bill on the budget plan. 

3.Premium Cable

It's hard to cut the cable cord, especially for people in rural areas who can't get an over-the-air signal to save their lives. Instead of cutting the cable completely, get rid of what you can. Keep in mind that you can only watch one channel on one television at a time. Also keep in mind that you can watch many of your favorite shows on the Internet, and that a Netflix subscription costs less than $10 per month. What kind of cable are you paying for? If you're like the average cable television subscriber, you are paying over $100 per month for the privilege of watching television. Get rid of your premium channels and sports packages. Whittle your package down to basic and you could save over $50 each month. If you are screaming "But what about my DVR?!" at your computer screen right now, think of it this way: Your DVR will have you eating salty, dried noodles at the end of the month. Wouldn't you rather have a dinner designed for adults?

4.Your Car

Egads! Get rid of your car? That's right. While it's not feasible for everyone, it is feasible for more people than you may think. If you have more than one car in your family, dump the others. If you have access to public transportation, ditch every car that you own. If you simply can't fathom life without a car, you are wrong. Think about how much money you could save if you got rid of your car. No more insurance payments, and no more need for gas. Don't worry if your car is financed; you can easily find someone to buy it for what you still owe. It takes minor adjustments when you don't have a vehicle, but you can still get things done. A subscription to Amazon prime costs under $90 per year. Amazon prime gets you free shipping. This means that you can do your grocery shopping, pet food shopping and clothes shopping online. If you want to go on a vacation, you can rent a car. If you have a medical emergency, you can call an ambulance. Give it some thought.

Will all of these options work for everyone? Of course not. But at least one of these options might work for you. There's no reason to live paycheck to paycheck when you can make changes in your life that will keep your bank account in the black. Talk to family and friends and visit www.securitysystems.net/frontpoint-vs-adt.php for more money-saving ideas.

Chelsea McCary is an avid finance blogger. If you want to learn more about ways to save money without scrimping, you can follow her at @ChelseaMcCary.

One Minute to Midnight Retirement Planning

retirement (Photo credit: 401(K) 2013)

A mixture of personal circumstances, economic uncertainty and bad luck can leave people approaching retirement with insufficient savings. If you find yourself in this position you have a few options to maximize your savings.

Increase Savings

If at all possible, increase the amount you’re saving. Standard financial lore says to save at least 15 percent of your income for retirement. Try to increase this even more.

Once you’re past 50 the Internal Revenue Service allows you to contribute more to IRAs and 401(k)s. Take full advantages of this opportunity.

Cut Back

Increasing savings, by necessity, usually means cutting back on living expenses. You may need to cancel expensive vacations or purchases in the last years before retirement. Moving to a smaller, less expensive home can free up equity which you can roll into IRAs, 401(k)s or investments.

Add Some Risk (Or Play it Safe)

Depending on which financial advisor you ask, someone playing catch-up on retirement savings should either play it extremely safe or learn to take some risks. The right decision depends on your saving habits and personal preferences.

Highly conservative savers may not see the returns they require to retire comfortably. This is especially true for people whose savings focus on CDs and money market accounts. Adding some risk to a conservative portfolio, such as increasing corporate bonds and stock portfolios, could increase your returns.

On the other hand, we’re talking about a situation where you already lack the funds you need, and increased risk carries with it the possibility of increases loss as well as profit. If you’re not comfortable risking the savings you have, risky last-minute investments are not for you. 

Use Benefits While You Have Them

If you have medical conditions that require attention, take full advantage of any benefits your employee offers. Whether you need surgery, dental work or even access to addiction rehab centers, use your health coverage before you retire.

Using your health benefits before retiring can have a significant impact on how long retirement savings last. The healthier you are, the less money you’ll spend on medical expenses. In other words, taking the time to lose a few pounds now could save you dollars in the years to come. 

Delaying Retirement

If your retirement savings are particularly low, you have another option: delay your retirement. By working an extra five years or so you increase your eventual Social Security income and may be able to take greater advantage of the IRS over-50 programs. Talk to a financial advisor to see how this option would impact your personal finance.

Many retirees now chose a “working retirement,” either out of necessity or the desire to explore a new career they truly enjoy. Some see part-time employment as vital to their retirement income, while others see the job as more of a hobby that gets them out of the house and provides social interaction.

A part-time job won’t bring in the income you’re used to, but it’s not supposed to replace your old employment. Instead, part-time employment helps you stretch your retirement income further. For many retirees whom need supplemental income, a part-time job makes a significant difference.

What to Look for in a Savings Account

More than a quarter of Americans do not have any money in savings, according to research released in June 2013 by Bankrate.com. And nearing retirement is a big incentive to consider your long-term financial stability. 

If you haven't started saving already, now is the time to open a savings account.

To assist you in the decision-making process of choosing where to open your savings account, here is a guide that emphasizes the importance of low fees, limited restrictions, bank insurance, high-yield interest and other factors. 

· Watch for Fees

Beware of hidden fees. Saving accounts may have fine print that lists costs that will take from the money you are trying to save with maintenance fees, activity fees, monthly fees, withdrawal fees and others. Make sure to ask questions -- like whether there is a minimum balance requirement or if it costs to transfer to the account when your checking is through a different bank -- before handing over your money.

A good bank will allow you to put money aside without hassling you with excessive charges.

· Check for Accessibility

Although this account should not have withdrawals taken at the frequency of a checking account, strict restrictions (which may include fees) on the number of withdrawals is not a good sign. Look for an account that will allow you access to your funds in case of an emergency. You will be saved from turning to credit or taking on extra debt. 

· Earn that Interest

Forbes.com recommends finding online savings accounts with interest rates around 0.87 percent or traditional banks with around 0.74 percent. But beware of introductory interest rates that shrink after the first few months.

If you are able to add money to your account on a monthly basis, your bank may offer special rewards like higher interest rates.

· Look into Online Banking

An ad for a promotional savings account in your mail or a solicitation from your bank teller may not give you access to the best savings account available. Shop around, and compare offers from online banks.

Online banks offer special incentives as they try to convert customers used to working with traditional banks. These banks cost less to operate, allowing the banks to offer higher rates of return on savings accounts.

· Research Credibility

The banking industry is not immune to economic fluctuations, and if a bank suffers major losses, your money may be at stake. Before you commit to either an online or traditional bank, do some research into a bank's credibility.

Check to find your bank's Tier 1 capital ratio, which is a measure of strength based on equity and risk. Experts recommend avoiding banks with a Tier 1 ratio of less than 10 percent.

Makes sure your money is insured. FDIC insurance protects up to $250,000 per depositor. If a bank you are looking at does not have this protection, take your business elsewhere.

· Move to the Next Level of Savings

As you learn to put aside a portion of your income for savings, you can move to the next step: opening a savings account that is an investment product. Divide up excess funds into accounts with greater interest rewards and tax benefits.

Financial products to help protect your retirement years include IRAs, 401(k)s and annuities. Once you've saved up a lump sum, an annuity can give you access to regular payments to supplement Social Security payments that might otherwise be your only income during retirement.

Saving money in an envelope at home or letting a balance grow in your checking account may seem like enough to tide you over for the next few years, but truly preparing for the future will require putting in more effort, starting with getting a balance in the right savings account.

Alanna Ritchie is a content writer for Debt.org, where she writes about personal finance and little smart ways to spend (and save) money. Alanna has an English degree from Rollins College.

Old School Finance Tips That Work

English: Debit Card(Photo credit: Wikipedia)

There are all kinds of things people can learn from the Great Recession. However, the biggest lesson is that there’s no such thing as a guarantee. While some investments may be conservative, they’re still a gamble. Locked-in interest rates usually aren’t worth the trouble, considering you’re making a large set of funds unavailable for emergency situations. It’s safe to say more people are miss-managing their money (whether it’s a lot or a little) today than they were 100 years ago.

While you won’t get rich from old school investment and savings strategies, you will be relatively secure. How did our grandparents save, invest and manage their money? Maybe they knew a few things that today’s race for high ROIs leaves in the dust. After all, slow and steady has long been the mantra for many things in life, so why not money management?

Actually Budget

Everyone knows you “should” have a budget, but do you actually have one in place? A budget is a written down, line item document that itemizes every single expense and source of income. A budget is something you stick to even if you really want a new BBQ for the summer or if large garden desperately needs an expensive organic rabbit repellant (you should budget-in emergency funds). Despite this knowledge, most people don’t have one or fail to follow its guidelines.

However, most people also have a salary, work the same amount of hours, or get the same benefits each month. It’s no secret how much money you get, and it shouldn’t be a secret how much money you spend. Write down your fixed-costs, such as utilities and actually track how much you spend on everything else. You’ll quickly pinpoint some ways to save money and make sure you re-direct it to savings, emergency funds or retirement.

Use Cash and Precious Metals

It’s simply easier to spend on a debit or credit card than with cash. In an emergency situation, it’s always best to have cash on hand, and maybe even some precious metals bought when the prices were low. However, cash is also easy to steal and most burglars know exactly where to look. Invest in a fire-proof safe that’s bolted to the home and impossible to remove to store vital documents, cash and other precious belongings — that’s what our grandparents did.

Sadly, most banks don’t offer a good enough interest rate to make savings accounts worthwhile. You can easily get disheartened looking at monthly interests that never go beyond single figures. If you have trouble saving, choose an online account and opt out of getting debit cards and checks. You can still transfer funds to make them accessible, but it will take a few days so it stops impulse purchases. 

Reconsider Needs

A big problem many people have while budgeting is their undefined definition of necessities. Few people need a house as nice or as large as the one they live in, or the cars that they have in the garage. If you really want to be financially sound, keep in mind you’ll likely need more than your current income per year when you retire. Suddenly the urge to save is much stronger — and you find downsizing a little easier.

Early Investments Help You Financially after Retirements

In the past workers were enjoying the security of the pension plan, however today they are not that fortunate. These days it’s up to each and every worker to make preparations for their own retirement, meaning that they have to do some serious planning. Each one of us can enjoy a happy and a much financially secure retirement, however it is very essential to start preparing for it as early as possible.

Take Advantage of the Tax-Deferred Savings

“If you have an access to the 401k plan at your place of work, consider investing in it as much as you can really afford.

• A 401k plan normally provides an opportune way of saving for your retirement and also reduces the current income taxes. 
• That normally means that if you usually get refunds, investing in 401k boosts the size of that particular refund. 
• If you owe money, the 401k reduces what you owe and to some extent tips the scales back to the refund.
• In addition to the upfront tax savings, the cash that you invest in 401k accumulates on a tax deferred basis, denoting that the amounts are only taxed when you receive it once you retire.”

Ramp-up The Contributions

“If the 401k plan has an automatic escalation feature, make use of that benefit.

• An automatic escalation feature normally increases the percentage of your contribution each year until the maximum that has been set by the plan. 
• That makes investment for your retirement automatic and painless, eliminating the biggest impediment to investing in 401k plan in your firm. 
• Avoid the inactivity when it comes to the 401k plans, signifying that you never adjust the contributions to account for the raises and a change in financial situation.
• Placing your savings on an automatic escalation feature helps you to save more therefore accumulating a much larger retirement portfolio.”

Invest steadily

“Invest in dependable and steady stocks, and then leave your investments alone.

• Some blue chip companies like AT&T or even Ford, had been in occupation for decades, and they have consistent and steady growth every financial year, making them a great opportunity for investing. 
• Leaving your invested stocks alone ensures that you are giving them enough time that they require to perform to the fullest.”

Mutual Fund

“Make sure that you contribute more frequently or even annually to a mutual fund.

• A mutual fund is one of the safest long term investment opportunities that you will ever have, with yields above 10% common.
• In many cases, you can withdraw your mutual funds without penalty as well as contributing to it as often as you may like.”

Agency Bonds or Treasury bonds

“Buy either the U.S. Agency Bonds or Treasury bonds.

• Treasury bonds are normally guaranteed, but with lower interest rates. 
• Agency bonds issued by the government agency rather than the Treasury are never guaranteed, but have much higher interest rates.”

Set Up Goals

“Set up a step by step plan.

• Financial experts recommend that you set up your goals based on where you actually want to be 9, 6 and 3 years before getting to the retirement age. 
• This gives you enough time to plan as well as execute your ideas and would let you modify your plan if it becomes hard to meet these goals.
• Step up the speed of your plans as you approach the retirement age. 
• Increase the frequency and the amounts of your contributions, and keep investing in additional stocks.” 

Pay Off Your Debts

“Come up with a good plan of paying off all the debts that you owe long enough before you retire.

• This should be your objective of going into retirement without outstanding credit card debt; however you should also finish paying for your mortgage prior to retirement.”

Decide how much wealth you require to live comfortably

“Think about your day to day expenses, but make sure that you add things that you will want to do in the future that you aren’t doing now, such as pursuing a hobby or even traveling.

• Take into consideration the price changes and inflation, and do not forget to plan for the unforeseen circumstances.”

Opt For Financial Planner

“Consider looking for some help from a financial planner who will help you to set up a good savings plan and investment.

• This is very significant if you have little or no knowledge about the finances or if you’re looking to invest in large capital quantities and need the assistance of a professional.”

Crunch The Numbers

“The Internet has very useful tools available that can help you to figure out exactly how much you should be saving.

• These tools are very simple to use. You just input what you want to be saving every month, and they calculate the estimated worth.”

Level Of Risk

"Make sure that you know your actual level of risk.

• If you are conservative with your money you will need to set up smaller goals. 
• People who are willing to risk can make loftier goals however they need to be much aware of their chances. 
• Knowing your exact comfort level is the key to determining the plans and goals that you have once you retire. 
• Assess your financial situation and commitments that you currently have will help you to determine the amount of money you need to put towards your retirement.”

Avoid Market Timing

“Even major experts in this industry have some troubles calling bear and bull markets, so your chances of getting everything right every time is very small.

• People who try to time the markets usually end up getting in and out of it at the wrong time, and that can eat their profits in a long term. 
• It’s always good to use the dollar cost averaging approach meaning that you invest a similar amount of money every month, despite how the stock markets are doing. 
• This will allow you to accrue more shares when the stock market is down and profit when it recovers.

See your accountant, financial planner or call axa insurance contact number for more objective opinions on how you can save your money for retirement. You may not see some areas of your normal budget to cut more retirement money; however these professionals will convince you otherwise and can give you a much clearer picture of all the options that you have.”

Five Ways To Save Money and Learn New Skills at Home

Earning and saving money while learning new skills or a new trade can seem impossible at times, especially with the rising cost of traditional education. If you are looking for ways to save money while also expanding your knowledge, there are a few different methods available that can be completed from just about anywhere, including your own home. 

Read Free EBooks

Reading free eBooks online is one way to save money while learning new information or skills. There are libraries of thousands of free eBooks on everything from survival in the wilderness and canning food to understanding the mind and even neuroscience.

Browse Official Publications

Browsing official publications and documents that have been released online is another way to learn new skills without having to invest any money to gain the knowledge you are seeking. Be sure to verify the publications or documents you are reading are truly official and from a reputable source when learning a new trade or skill.

Learn With Videos

Learning with do it yourself, or "DIY" videos is another way to save money and learn new skills at home. Watching videos online is a way to avoid enrolling in paid classes while learning and picking up new subjects entirely free and from the comfort of your own home. When you want to get working around the home, there are plenty of DIY videos to get you started. With Garage Door instructional videos it has never been easier to get actively involved with DIY projects around the house.

Get Creative

Get creative and begin designing or working with photo-editing, programming and even web design. Working from home and saving money is possible by picking up computer-related skills, especially if you consider yourself to be somewhat inclined to technology. Find your passion and choose a niche to focus on.

Join New Start-Ups

If you truly want to immerse yourself in an environment from home that allows you to learn new skills, join new start-up businesses or online groups for entrepreneurs and self-learners. Becoming a member of online communities, message boards and social networks is a great way to pick up new skills without being required to attend traditional classes.

Knowing how to get resourceful at home when you want to learn anything new is a great way to save money while still enhancing your knowledge. When you put various resources to use online while you are learning new material it is much easier to find the experience enjoyable and more memorable long-term.

AUTHOR BIO: Tommy Mello owns Garage Door Nation, a website specializing in wholesale garage parts and providing helpful DIY videos. 

Start Investing in Your Future Now

Manage your money with investment portfolio management tools

You are never too young to start investing for your future. While you may not really be concerned about your retirement right now you should still start putting some of your money aside. Investments are a great way of supplementing the income you have in your retirement and it can make a huge difference to the quality of life you’re able to afford when work is no longer an option. And let’s face it, do you really want to work into your seventies?

If you are smart you’ll begin investing your money as soon as possible. If you build a diverse portfolio you can reduce the risks that can be found when investing and build a great income to help you in the future. Lack of knowledge can result in many individuals not even considering investing their money but you can get over this step. There is plenty of advice that can be found online and you should always consult with a financial advisor who will be able to give you some valuable information.

You’re not too Young to Start Planning for Your Retirement

The earlier you begin investing the better; your investments will have much longer to grow in value. However, you should never simply buy stock or start investing in shares without managing your money and keeping an eye on what’s happening in the markets.

As soon as you begin work you should ask your employer about their pension plans if they have one. It is worth paying into a pension plan and if the company doesn’t offer one, you need to look into finding your own. Don’t leave it there though; you can also start saving money in ISAs or buying stocks and shares.

Diversifying your investments involves spreading out your money over different market categories. You can look at putting some cash towards stocks that are more conservative that have regular dividends as well as ones that offer more long term growth opportunities. Additionally you might like to take some greater risks that have the opportunity of receiving much greater returns.

What You’ll Need When You Start Investing

It is important that you seek some advice before you do anything. You will need to establish how much money you will want to invest initially and decide where you would like it to be invested. You can choose to play it as safe as possible, choosing only the low risk options, but if you are ready to accept more risk, you could put aside a small proportion of your funds for something that could really pay off in a big way.

When you decide how to proceed you will need to find yourself a way of managing your stocks and shares. The best option is to use an investment portfolio management tool. This allows you to monitor your diverse investments in one place. By doing so you will be able to react quickly when you need to and help reduce the risks of losing your investment simply because you haven’t been paying enough attention.

5 Tips for Setting yourself up for Retirement

We often hear stories about pensioners who have so little money that they have to eat dog food to survive. Often this is because circumstances have not worked in their favour, and the fact is that in life there are no guarantees. Having said that there are ways that you can do your best to ensure that you have prepared adequately for when you retire. Here are 5 tips for setting yourself up for retirement.

Have a plan

Just going through life without worrying about the future might work for some, but often it can be a case of the squirrel who did not collect enough nuts for the winter. Thinking into the future, and planning ahead is the best way to ensure that you have set in place a plan that will serve you when you retire from work.

Educate yourself about investment

An investment in your future is well worth the money. There are lots of different courses available for people to learn how to best manage their retirement plan so that they can get the most out of life when they retire. The money that you pay now for information about investing will be money that you have invested into your own future.

Live to your means

There is no point in spending a lot of money to keep up with the Jones’s as this is something that will not bear fruit for you in the future. The money that you waste now in buying ‘things’ to give the illusion of wealth will be money that you don’t have later on when you really need it to live. Having a credit card that you use to buy frivolous purchases could end up being a debt that you are still dragging along behind you later in life. If you are good at saving money but have it too accessible then you might find yourself spending it on things that you don’t need, so put it into a term deposit or investment and make it work for you.

Own Your Own Home

Owning your own home is a really important part of having something to show for yourself in your retirement. When you make each monthly payment it builds to your equity automatically which will work for your future. You can arrange to have your final mortgage payment just before you retire so that you know you will not have any debt as you move into this stage of life.

Use Common Sense

When making investments, use common sense, and most importantly seek help. If you receive dodgy emails asking for your bank details, use your common sense and ask if it is kocher. Asking for help with making decisions about your money will ensure that you are always working with the knowledge of experience that others have already gained. This will help you to maximise what you have, and prepare you better for enjoying your retirement. Meredon Consulting have a lot of experience with maximising retirement plans, so give them a call if you have any questions.

Nine Essential Ways to Boost Your Retirement Fund

Do you have enough money to retire when you turn 65? If you want to travel the world, live debt free or buy a beach cottage, you need to plan to save enough money. With these nine tips, you can successfully boost your retirement fund. 

1. Buy Needs, Not Wants

Do you know the difference between a want and a need? If not, you’re probably spending instead of saving a lot of money.
You’ll save thousands of dollars by simply evaluating your needs and wants. Then, before you spend a penny, buy only what you need and rarely what you want.

2. Save Automatically

It’s human nature to say you’ll save and then spend the money instead. Ensure your retirement fund grows when you automatically transfer money to your retirement account every week. You won’t miss that automatic deduction in your checking account, but you will appreciate your growing retirement fund.

3. Build an Emergency Fund

Sometimes, life events like a roof leak or medical bill hit hard. They tempt you to withdraw from your retirement account or stop automatic savings. Instead, build an emergency fund to cover unexpected expenses that aren’t in your household budget and ensure your retirement stays on track. 

4. Decrease Credit Card Debt 

Nothing sucks money out of your pocket like credit card debt. It’s often accompanied by high interest rate and monthly fees. Find a debt repayment calculator online, stop charging and plan to get out of debt quickly.

5. Pay off Your Mortgage

A long-term expense, your mortgage keeps you tied to your day job. Free yourself by repaying your mortgage so that you can retire on time. 

6. Accumulate Experiences, Not Stuff

Buying collectibles, clothes and tools may make you feel good in the moment, but then they’re a hassle to dust around or maintain. They don’t enrich your life, build relationships or fulfill your dreams.

Experiences, however, provide long-term benefits. They are worth every penny, and you’ll relive the time you swam with sharks, taught your grandkids to play chess or rebuilt a car with your dad’s 1950 Ford Mustang Parts. Yes, experiences cost money, but they are worth their weight in gold compared to the value of stuff.

7. Diversify Your Portfolio

Don’t place your retirement egg in one basket. Create a portfolio of investments that includes a mix of high and low risk options, and protect your money. 

8. Organize Your Paperwork

Do you know where your retirement fund statements are located? Find, organize and inspect each one to ensure you understand the charges, changes and growth of your retirement money. 

9. Remember Your Dream

Post your retirement dreams in your checkbook, on your closet door and near your computer. That list keeps you focused on saving rather than spending money.
Don’t simply hope and dream that you’ll have enough money to retire. Implement these nine tips, and retire like you want. 

BIO: Alicia Lawrence is a content coordinator for a tech company and blogs at MarCom Land in her free time.

What Type of Retirement Account is Right for Me?

When starting their careers after school, new members of the “real world” are likely given some options to invest their money. This can be multiple different avenues, and many of them can help prepare for the future. If retirement is on a person's mind, they may want to look at a couple of choices to help strengthen their financial strategy.

We at World Financial Group know that individuals need to think about retirement starting at an early age. This can be a tricky process, but there are many options available to help people achieve their goals. Starting early is important, and it can prevent delays in a person's fiscal plan later on.

Planning for retirement necessary from the get-go

Everyone wants to retire comfortably, but there may be some issues on how a person will accomplish those goals. By setting a strict plan from the time a person is getting into the working world, it can improve the chances of retiring on time.

• Start saving now – There is never a point where it is too early to start putting money away for retirement, and delaying this process can hurt the chances of getting it done. 
• Know what is needed – Having set goals are only as good as the likelihood an individual can reach them. Saving a set amount and working to increase that level gradually may put the person in a better spot later on. 

Not all retirement accounts made equal

Young people need to look at a variety of retirement options, and considering these choices should be a long process. When finding the right type of plan, a person can adjust their strategy to ensure they are in the best position to save a sizable amount of money.

• Roth IRA – One of the best aspects of having a Roth IRA is that all withdrawals of the account are without any tax penalty. There are still some tax contributions, but the money taken out belongs to the person who owns the policy. This policy also allows for withdrawals before a person retires without a penalty, which can be beneficial if the account holder needs the money. 
• 401(k) – This policy allows for an individual to work with their employer in order to build their retirement savings. If account holders put a certain amount of their paychecks toward this account, they may be able to get their employers to match their contributions – thus providing a nice boost to their savings. 

These available options can help a person get the tools they need to retire successfully. However, these may be even better if a person combines them with other diversified savings plans such as a nest egg account and a college fun for any children they may have.

Adjusting our Budget for an Empty Nest

My husband and I have been married for 21 years and this is one of those years in which our lives will change dramatically. Our youngest goes off to college and we will once again plan our household budget around just the two of us. With two in college we have plenty to cover in our overall budget, but if we are careful and make adjustments we will end each month with savings that can be set aside for our rapidly approaching retirement years.

Here are the areas of our family finances where I think we can save.

Household Budget

Cooling and Heating

For nine months out of the year we will have an entire floor of our home that is uninhabited. We’ve been here for seven years and we plan to stay until it is time to downsize. That doesn’t mean we have to cool, heat and light up those areas of the house we aren’t using.

Whether your empty nest means a couple of rooms become vacant or an entire wing of your home goes empty, here are some tips for taking advantage of energy savings on the unused portions of your home.

• Close blinds and curtains - It will stay hot during the days throughout the month of October in our area. To help keep out the heat the first step is to close the blinds and curtains of the windows facing east, west and especially south. Then switch that up during the cold months and open the blinds of the windows that face south. 
• Close vents - Another step is to close the vents in the rooms that will not be in use. This diverts heat to the common areas that you will want to keep warm. 
• Close doors - This one is obvious and it is something many energy conscious people do already. As much as I like an open house, it saves energy to keep doors closed so we aren’t cooling or heating areas that aren’t in use. 
• Change thermostat - The final step will be to adjust the thermostat upstairs. We don’t want to make the downstairs unit work harder, so the adjustment will be slight, but it will certainly help save money each month. 

Cleaning

This may not seem like much, but along with not heating and cooling the rooms that are no longer in use, we will save time and money by not having to clean those same rooms as often. While I make a lot of my own cleaners, the ingredients still cost money. So does the electricity used to run the vacuum. The actual dollar figure saved may be small each week, but when combined with other savings it makes a difference.

Since I’m self employed, the time I save can be used to produce more income. If you work outside the home, this extra hour or so each week can mean a little more time to relax and unwind after a long day at work.

Laundry

Again, this might seem like a minor savings, but our child heading off to college accounted for more than a third of our laundry expenses this past year because of her very active life. We are already saving a lot with Energy Star high efficiency appliances, but this fall our laundry load will be cut in half. Over time that is a substantial savings.

With both daughters doing their own laundry at school we will save on detergent, water and energy costs. I won’t realize much of a time savings here since the girls have washed their own laundry for some time now.

Gas Budget

As a family we spend very little of our budget on gasoline for our cars. I work from home so don’t drive on a daily basis and while we live in a rural area pretty far from town, we have always organized errands to use as little gas as possible.

Once the kids are on their own and paying for their own gas, most couples will see a reduction in their fuel costs. However, some will fill their empty nests with new activities and may actually get out more. The good thing is that you’re in control of this lifestyle change.

Grocery Budget

Cooking for two may be where many empty nesters can save the most money once the kids move out. Even if you occasionally splurge on expensive foods that you’ve avoided when there were more mouths to feed, careful menu planning can offer serious savings.

No matter how hard you work to keep your food budget low, teens eat a lot and are often the reason many families have snack foods in their pantries. Now is the time to break old habits and revamp your grocery list and the way you buy, prepare and store foods.

• Check your recipes carefully to see how many servings they offer. If it is something that will not freeze or keep in the refrigerator, or if it is something that won’t be good reheated, don’t make more than you and your spouse can eat at one sitting. 
• Plan a menu in advance and base your shopping list on this menu. I use SouthernSavers.com to track store specials and I plan my menu around as many sale items as possible. Find a site that lists specials for stores in your area. 
• Invest in storage containers sized for one or two servings so there is less air in the container. This will help prevent freezer burn. It is also helpful if the container can go from freezer to microwave for defrosting. 
• Keep a list of meals you have stored in your freezer and rotate them so they don’t go stale or get freezer burn. 

A freezer stocked with meals ready to thaw and reheat offers flexibility to your food budget and your evenings at home.

When your children leave home, life immediately becomes less expensive, so make a conscious effort to take advantage of all the little ways you can save. Pad your savings account with all that extra money so you won’t feel guilty when the lure of dining out or off-season vacation rentals tempts you to splurge.

Betsy Muse is a staff writer for ConsumerFu where she offers tips to help people find ways to earn more and save more. She is the mother of two college-age daughters and spent much of her early career in the banking and insurance industries.

Learn Different Ways Of Saving Your Money

Some say love makes the world go round. Many now say money make the world go round. Money is truly a critical factor to living life on the earth as it is. Money defines power and capability. All issues in one way or another lead to money. Even the good book used by the Christians says, "Money answers all things". However, it is never about spending all the time. It is definitely wiser to save than you spend. This assures you of financial security and teaches virtues such as inner discipline, self-control and contentment. Here are a couple of ways you can save money

Cost effectiveness

Different brands are there on the market when you go buy stuff. Make sure to do your research before you use your purchasing power. This enables you to know what product is best; thus, your money never goes to waste. Without compromising on quality, you are also well equipped to choose what product to buy as the prices from different brands of products. It may seem like a small margin but cumulatively it amount to quite a lot, which is utilizable for other purposes or even save it. 

Avoid luxury

As the word suggests, they are not necessary and so it is best to avoid them when and if you can. If you will not need a new function, it is better not to buy the newest phone on the market that is fancy and instead remain with your former. Businesspersons would say there is no return in that investment. Some people even have the tendency of purchasing stuff without proper knowledge of it, just because it is new and advance. You would rather remain with your old school brand if it suits you comfortably. New is not always better. 

Save as you earn

Do not save what remains after spending. Instead, spend what remains after spending. In fact, such habits like smoking, which are expensive can be turned around by indulging good e-cigarettes to help you quit. This is an ideal practice, especially for those who expect something at the end of the month or the week. Develop the habit of setting aside a certain amount of money once your wages and income gets to you. It is best if you transfer it elsewhere and forget about it. It may come in handy during a rainy day, dealing with disasters and emergencies. It is always best if you are prepared. 

Avoid being spendthrift

Being spendthrift should be a great vice for one aiming at saving money. It creates the tendency of spending money in a way that you had not intended to in the first place. One, you get to buy something that you do not really need. It was never initially on your mind as you went out. Most probably, you liked it because of its attractiveness or good bargain. Two, you purchase the item at the expense of another. It is always best if you do not walk around with cash in close range e.g. in your pocket if you have this habit.

Remember that wasting is the opposite of saving. Therefore, apart from setting money to the side, it is also quite helpful if you cut down on costs, especially those that might be unnecessary.

Author Bio

Alisa Martin is a renowned financial adviser all over the country. She also has a passion of keeping her followers informed, thus writing various and diversified topics in her blogs. She is also in the lead front in technological advances, well known in the light of ego ce4 and much more.

Should I Try to Save While I'm Still in Debt?

There are two schools of thought on this subject. I am largely in the camp that believes debt should be retired before beginning a serious investment strategy. There are three exceptions and I will begin by addressing these.

Exception 1—Your Mortgage

The typical mortgage has at least a ten-year term and often a twenty-year or thirty-year term. I do not believe it is practical to wait that long to begin investing. 

Exception 2—Employer Matching 401k

If you are fortunate enough to work for an employer that offers matching contributions to a 401k plan, I cannot recommend that you wait to an investment in that plan. You would be leaving free money on the table and that makes no fiscal sense whatsoever.

Exception 3—Small Business Owners

If you are a small business owner, you should invest in growing your business. After all, it is be the wellspring of your present and future income.

These exceptions noted ...

I believe in the time value of money and by extension the value, indeed the necessity, of eliminating the interest expense associated with most if not all debt.

The Time Value of Money

The time value of money is the most persuasive argument available for retiring debt and for investing. You see, saving differs from investing. If you have a piggy bank and save ten dollars, you empty out the piggy bank in ten years and guess what—you still have but ten dollars. Conversely, if you invest ten dollars, in ten years you will have more than ten dollars because whatever you invested in (stock, bonds, certificate of deposit etc.) will have grown in value.

Debt also exemplifies the time value of money. However, with debt, the value accrues to the lender not to you, the borrower. Think about it … instead of you earning money on an investment, the lender is earning money from you. Why? Because you have debt and the interest expense that is a result of that debt finds its way into the corporate coffers.

Sample Scenario

In this example, imagine you have a credit card debt of $5000 with an annual rate of 10%. You would have to pay $126.81 every year for four years to pay this debt in full. That means for $5000 you will pay a total of $6086.88 over a four year period. Obviously, you are paying the credit card company $1086.88 for the privilege of using their money. The time value of money is working for the credit card company, not for you.

Now, I want you to consider this. If you elect to invest before retiring this credit card obligation, what investment can you make that will provide you a safe return exceeding the 10 percent rate you are paying the credit card company? Can you think of even one? I can’t!

If you are lucky and find a reasonably safe investment that pays even 5 percent, this is only half of what you are paying out in interest to the credit card company! This is not a rational course of action.

Conclusion

Apart from the exceptions noted above, it is clearly counterproductive to invest before you have retired your debt.

For you small business owners, the principle applies equally with respect to business debt. Look to your accounts receivable for cash flow and/or debt relief. Take advantage of free invoice factoring calculator to see if your accounts receivable can help you retire business debt early.

About Author:Andrew Cravenho is the CEO of CBAC LLC, an innovative invoice financing exchange. As a serial entrepreneur, Andrew focuses on helping both small and medium sized businesses take control of their cash flow. Prior to CBAC, Andrew founded an annuity financing company relieving tort victims of financial hardship.

Tips for New Investors on Saving Money Effectively

saving and spending (Photo credit: 401(K) 2013)

“A penny saved is a penny earned” ~ Ben Franklin 

Learning to save money is the best thing for you to get started as an investor. It is good to keep your investment strategy cinch as a beginner in this field. Here are some tips which would help you out in saving more money. 

Investment:

You can take advantage of the investment programs offered by your employer especially the ones which permit you to invest pre-tax money. Pre-tax money means that you are able to invest in 100 percent of the money you earned. Pre-tax dollars are a part of accounts like 401k plans, IRA’s, retirement plans etc. This investment plan will work out for you as a strong foundation for the other investment plans. If you trust the company you are working for then you can hold benefit from the stocks that your company owns and you can always look for opportunities to acquire stocks in your company.

Investing by yourself:

For instance, if you’re running a PPI Claims firm or an interior designing firm or any other financial services, you should know when to invest and where to invest. With the online brokerage investment firms like TDAmeritrade, E*Trade, Charles Schwab Scottrade, etc. help you in investing on your own. You can invest in mutual funds to gain a broader spectrum of investment base. Some of the mutual funds providers are Pimco, Vanguard, Franklin Templeton, etc. They invest in various stocks like Mid-Cap Growth or International Growth Stocks and then would offer fund shares to the investors.

10% rule:

You should aim to at least save 10 percent from your tax earnings before investing. Many millionaires adapt themselves to living with minimum means as they are focused on attaining their financial goals.

Budget:

Budget is the key to any saving strategy. It helps you to identify for what purpose you are spending money. It could help you minimise your spending on unnecessary things.

Investment Pyramid:

You could design your investment plan like a pyramid. You could start with low risk investments at the bottom. Low risk investments include money market account, personal savings account or Treasury bills, etc. Most people would include real estate in this category. Bonds, stocks, certificates of deposits (CD’s), mutual funds would constitute the middle part of the pyramid. The investments with high risk could be a part of the top of your pyramid. Riskier investments could be the ones which would offer high returns compared to the others. Stock options, high growth stocks, collectibles, and so on d fall in this category.

About the Author: This guest post is written by Amy Lawson who is a specialist in financial blogging from Manchester. Apart from blogging, she does research on tax credit phone number.

8 Great Tips to Save Money in 2013

With high inflation rates, the current state of the economy and ever-increasing inflation rates, it is never easy to save money. With 2013 looking to be just as difficult as recent years, we look at 8 ways you can defy the odds and save money, from reviewing your mobile phone contract to saving energy at home. 

1 - Online Banking 

Setting up and regularly monitoring your online banking is a great way to keep on top of your finances and help you save money. You have the chance to reduce costs or perhaps cutting out expenses in certain areas just by reviewing what you are paying for. 

2 - Sell Your Items 

A great way to raise some quick cash is to sell your items, from books to DVDs to old phones. Whether you choose to cash in at a pawnbroker, a car boot sale or even online, there is money waiting to be made in your own home. 

3 - Compare Energy Providers 

As recommended by The Finance Legend - the internet now holds all the information you need so why not research who is your cheapest local energy provider to help you save. With energy rates increasing again in 2013, even a small saving would help you out in the long term. 

4 - Mobile Phone Contract 

Reviewing the amount of calls and texts you send each month against your contract details can help you save money, especially if you are using a lot less than you are paying for. On top of this, get quotes from a range of different network providers to find the best deal for you. 

5 - Low Cost Loans 

If you want to become more energy efficient around the home then consider taking out a low cost loan in order to help you carry out repairs and DIY. On top of the savings made from cutting energy costs you could also increase the value of your home. 

6 - Manage Your Food Shopping 

Food shopping is all about planning; make sure you know how much food you will need until your next big food shop. Cutting corners, takeaways and last minute runs to the corner shop will end up costing you much more than you expect. 

7 - Save Energy at Home 

Simple energy saving tips such as ensuring all taps and lights are switched off when not in use, turning down the thermostat by a few degrees and installing energy monitors can help you save money in the long-term. 

8 - Be Careful With Credit Cards 

With the high interest charges associated with credit cards, try to plan out the situations in which you would use this over your regular debit card. That way you limit your charges and effectively save money for the future. 

In summary, it is vital to plan and review your current and future expenses. Remember to work out where you could be saving money in ways such as using energy monitoring equipment around the home or getter a better contact for your phone. Good luck to everybody saving in 2013! 

Author Bio: Luke James writes for thefinancelegend.com. He has been writing about finance for years and enjoys holding seminars in which he gives out financial advice to others.