Modern Conveniences: 4 Ways to Save Money around the Home

Economic pressures challenge households in good times and bad, so you’re not alone if you want to find ways to save money. 

When you get the most for your money, you can improve your lifestyle and put money in the bank for emergencies, vacations, education, and retirement. 

The following four ways to save money around the home will help you spend less and save more, so your household can have a bright and sustainable future.

Control Your Utilities

Modern conveniences often run on electricity, so make sure you control your power bill by turning off unused lights, appliances, game consoles, televisions, and other power wasters. 

Even with the new generation of energy-efficient devices, you can still save a bundle by controlling anything that adds to your electric bill. 

Be sure to install a programmable thermostat so you can reduce the load on your heating and air conditioning units during times when no one occupies your home. 

Use Online Coupons

There are many ways to shop and save money. You might be able to find a good deal on a particular item you have been wanting or needing. 

However, the best way to probably save money shopping for groceries or other items is probably through couponing. Although you might check your Sunday newspaper for coupons, you also need to get coupons online. 

Web sites such as have vast collections of coupon codes for online shopping. You can save on almost everything you order online and also save on shipping costs.

Save Fuel

Find ways to cut down the fuel consumption of household vehicles. Do this by combining trips or carpooling with coworkers to work. 

Plan your shopping outings and errands, so you can get the most done as possible with the lease amount of gas. Saving money by combining trips can instantly pay off by freeing your time. It also pays to have a vehicle with a good fuel economy. 

If you have a vehicle that tends to waste fuel you can either not drive it as much or consider selling it. You can also trade it in for a more fuel efficient vehicle. It is better than letting it sit in your garage or driveway not using it and letting it eat you up in insurance and fuel costs.

Eliminate Waste

Waste can come in all different kinds of forms. It can be from wasting food to wasting electricity, water, paper, and many other things. 

Your entire family can participate in the process of saving money. Look for ways to reduce the amount of paper goods used in your home, save leftovers, and reduce impulse buying. If necessary, keep a list of all the money you spend and what you spend it on. 

You might surprise yourself when you find out how much you spend on things you don’t need. 

Create a Budget

Budgeting is one of the most important things you can do in your household. It should be done often to optimize your income and your spending. 

When you accurately assess household expenses, you can create even more savings my crafting a budget. When you plan your expenses, you can include savings as an expense to make sure you save at least a little bit every month. 

With the passage of time, your household becomes more efficient, so you will see a natural growth in the money available for saving.

The amount of money you can save without giving up modern conveniences might surprise you. When you adapt your lifestyle to pay attention to the way you and your family live, play, and shop, you will likely find even more ways to save money towards your future goals.

8 Things You’re Wasting Your Money On

Even if you pride yourself on frugality, chances are there are still things out there that you are wasting your money on. Here are eight of the most common things that we waste our money on.

Gym memberships

As this article details, keeping an unused gym membership is one of our most common expensive habits. And with the average gym membership costing $40 per month, canceling an unused gym membership could save you hundreds of dollars per year. 

If you’re currently paying for a gym membership, ask yourself if you are getting your money’s worth. Are you using the amenities that come with it? Are you going multiple times a month? 

If you aren’t using your membership frequently enough, consider canceling your membership and taking up running, biking, or at-home DVD workouts.

Cable

With streaming services like Hulu, Amazon Prime, and Netflix, paying for cable has likely become a drain on your budget. Let’s say you’ve been paying $35 per month for cable, for example. 

If you were to cut that from your budget, you would be free to spend, say, $10 per month on Netflix while still having $25 left over. For most people, it makes more financial sense to pay only for what they are actually watching that it does to pay for an entire cable package.

Clothing

Clothing is to an extent a necessity, of course, but many of us waste money on clothing simply because of how we shop for it. 

If you only purchase cheap, fast-fashion clothing items, for example, then you’re likely having to replace your clothing items much more frequently than you would if you had invested in gently-used, higher quality items from a thrift store or eBay. 

Moreover, if you can wait a month or two for a clothing item you spot at a favorite clothing store to go on sale (and chances are you can), go ahead and do it.

Children’s clothing can put you way out of your budget as well. This is one area where you might consider erring on the side of cheap since children so frequently dirty and grow out of clothing.

Expedited shipping

The anticipation of waiting for a package to arrive at your home can be intense, but when was the last time you really needed that new gadget or item of clothing to reach you house before ten days’ time? 

A little planning ahead and patience on your part can save you a great deal in shipping costs.

Bottled water

Many people do not realize just how much cheaper tap water is than bottled water. According to this article, tap water is on average $0.004 per gallon, meaning you could fill up 24 16.9-oz (0.5-liter) bottles for just over one cent. 

Buying a 24-pack of 16.9-oz water bottles at the grocery store would cost you at least five dollars. Save money on water by purchasing a reusable water bottle—and getting a water filter if you don’t like the taste of tap water.

Brand-name food and household items

Sometimes it’s worth it to invest in name-brand products (e.g., batteries, paper towels, toilet paper, and household paint), but much of the time, generic brand products will serve their purposes just as well. 

Consider going generic for pantry staples, produce, dairy products, over-the-counter and prescription drugs, personal care products, and cleaning products.

Eating out

Setting aside a portion of your budget for a few dine-out meals is one thing. But one major money drainer is those foods and drinks we purchase at convenience stores, coffee shops, and counter-serve restaurants on-the-go, simply because we didn’t have the foresight to prepare a quick meal, drink, or snack beforehand. 

Reduce how much money you spend on take-out by remembering to pack a lunch for work every day and by taking a snack or two with you when you go out to run errands for the day.

Services you can do yourself

This is a broad category, of course, but think about those things you have done regularly that you could do yourself with the help of a quick Google search—getting your oil changed, having your lawn fertilized, having a minor leak fixed, etc. 

This can even apply to small convenience purchases like pre-sliced fruit or pre-portioned laundry detergent packets. Before enlisting the help of a professional or purchasing a convenience item, ask yourself, “Is this something I could reasonably do on my own?”

Consider those occasions where you might “skill swap” with a friend, as well. If you want to have family portraits done, for example, consider having a talented friend do your family portraits in return for doing something you’re skilled at for your friend.

Investing Doesn’t Have to Hurt

Every wealth management advisor will start with one very basic principle: you need to save money--and the earlier, the better. 

We don’t think it’s necessary to convince you of the wisdom in that. You’ve already heard the message from a million sources, and if you need another reason to believe, check this link.

Here’s the problem: for most of us, investing is much harder than it sounds. There are already too many demands on our money: student loans, rent, car repairs, and groceries, just to name a few. 

Buying a new alternator before you go on that road trip is a much higher priority than saving up for retirement. 

When you’re living on a shoestring budget, how can you invest without making major sacrifices in your life?

Well, here are some ways that you can start investing NOW - not when your car is paid off, not when you’ve finally gotten around to setting a budget, not when retirement gets close enough to scare you straight. 

You can put these principles into action without feeling like you’re living like a pauper. 

#1 Short-Term Investments

Sometimes we have expendable cash for a little while, but we’re anticipating big costs in the future, so locking away that cash into a long-term investment account feels crazy. 

However, there’s a better option than letting it sit in a savings account with a return of 1% or less: short-term investments! When it comes to short-term investments, it’s better to focus on low-risk options, since there’s not as much time for the investment to self-correct. 

However, even low-risk, low-return investments will do you a lot more good than a savings account. Talk to your investment broker about short-term investment options, or check out some easy online investment software or apps (like Acorn, Robinhood, and Betterment) that will let you play with short-term projects. 

#2 Automatic Deposits

This is one of the most reliable and time-honored habits of smart investors. Automatic deposits into a retirement account will allow you to invest without feeling the pain of conscious deductions. 

If you invest before even counting that money as part of your monthly income, it doesn’t have the same pang. 

#3 Turning Bonus Cash into Bonus Savings

We all have a few things that happen throughout the year that just feel like bonus money. Any time you have that boost, consider turning it into investment, instead of an indulgence that will depreciate the moment you buy it.

• Tax returns: We’re in a dangerous place when we start considering tax returns money that’s owed to us, because we never know precisely how much it will be. Consider depositing the whole amount as soon as you get it, or treat yourself to something you really want or need, but turn over any surplus to savings.
• Yearly bonuses at work: If your company does yearly bonuses, think about it as a gift towards your retirement instead of fuel for yet another Holiday impulse-buy. 
• Rebates: Some are factored into the price of something we buy, but some rebates come as a surprise. 
• Sales: Did you just save 30 bucks on that jacket that you really wanted to buy? What a windfall! But most of us will forget about those savings, or spend them on something we don’t need because we look at it as free money. Put that free money to work instead. 
• Resolution savings: Have you ever gone without a certain treat for a certain amount of time, due to Lent, or a health resolution with a friend? When my grandmother wanted to quit smoking, I promised to give up chocolate to support her. Even more than the health bonus that this brought, I realized that I was saving up to 15$ a month by cutting an unhealthy habit out of my life. It’s not much, but it does add up! We all need our indulgences, but the next time you make a health resolution, consider the savings in cash. It will keep you motivated because it’s a positive benefit that you can see right away. To keep from rewarding yourself by falling straight back into your favorite treat, put that money towards a rainy day instead. 

So, next time your dad guilt's you about planning for retirement, or you read an article that makes you feel way behind in money matters, don’t beat yourself up about it. Just put these three methods to work and watch your savings accumulate without feeling the pain.

Buying a Home and Acquainting Yourself with Finance and Real Estate

Choosing the right way to finance your real estate purchase is as important as finding the right property. 

It is easier to find a suitable home loan when you have the information you need to navigate the loan process. Real estate is an important investment that requires you to be financially prepared.

Down Payments

The down payments that you are required to make will depend on the lender and loan. Down payments range in percentages of the value of the home you want to buy. A budget will make it possible for you to set aside money each month for the down payment. 

After determining what your budget will accommodate, you can arrange for automated deposits to your savings account to ease the process of saving money every month. If you are unable to make a substantial down payment, you can consider a loan that will help you if you are limited to a smaller down payment. 

Credit Report and Financial Documents

Good credit scores attract better deals for home loans. Before you start the process of purchasing a home, you need to get your credit report to find out how it will be perceived by prospective lenders and improve it of you need to. 

When you make a home loan application, your lender will need various financial documents. Preparing these documents in advance will speed up the loan application process. 

Investing Successfully in Real Estate

Investment property is among the top options for investors. It helps you increase your wealth and secure your future financial situation. 

While investing in residential properties can deliver positive returns, managing your investment effectively will determine the ability of your investment to help you achieve your financial objectives.

Getting the Best Price for the Right Property

• Owning property can be a low-cost undertaking when you consider tax benefits and rental income. Capital growth is a fundamental aspect of real estate investments. One of the most important decisions you can make is to choose property whose value is likely to increase. This is where you need to ensure that the price is right. 
• Information and patience are essential components of getting the best deals when acquiring assets. Work out the value of property by researching on what property sells for within the area. When you know the value of property, you will be able to recognize bargains. 
• Avoid buying real estate in locations that you are not familiar with as you become a victim of highly inflated prices. If you identify property that you want to buy but are unaware of its worth, independent valuations can be carried out. Different types of residential property showcase varying levels of performance in terms of aspects such as rental yields and capital growth.

Cash Flow

Real estate investments have proven to be a good way to build wealth on a long-term basis. Ensure that you have the financial capacity to keep up with the mortgage repayments to avoid selling your investment property before you are ready. 

Owning property is relatively inexpensive along with servicing the loan because of rental income and tax deductions. Rent is also likely to increase over time, subsequently increasing your income and making it easier to manage your investment.

Bio

David Wicks is a consultant in the real estate sector and previously worked as a broadcast journalist. When he is not busy helping his clients make the right investment decisions, he enjoys spending time with his family and dogs. View Matunga residential projects here.

Top Reasons Why Insurance Companies Love Mobile Insurance Apps

In just a few years mobile technology has changed forever the way we live our lives. What started out as voice calls and simple messaging has now transformed itself completely with web access and apps residing on smartphones that can do virtually everything that we want. 

The portability and convenience offered by insurance mobile apps have made them the hot favorites of customers as well as insurance companies. Customers can now access their insurers and perform a wide variety of tasks; including claim filing over the phone and insurance companies too can use custom apps to keep their agent network connected 24x7 and much more. 

While a lot has been discussed regarding the benefits of insurance apps for customers, here’s a glimpse of the many ways insurance companies are using mobile phone apps:

Simplifying Processing of Claims

Insurance apps, residing on smartphones, have made the process of filing claims completely hassle-free. 

Not only does this convenience work to the advantage of the customer but also reduces the workload of the employees of the insurance company as certain tasks stand reduced or eliminated and this frees up their time for performing more vital jobs like customer acquisition and engagement. 

Insurance companies no longer have to depute their photographers to click pictures of damaged cars or goods as the customers themselves can click them on their phones and send it to the insurance company. Many customers are also using pictures of their assets to create a catalog and using them to claim insurance in case the goods get damaged or pilfered. 

This reduces considerably the workload of the insurance company.

Increasing the Knowledge Base of Insurance Agents

It can be really cumbersome as well as expensive to call individual agents to a classroom to impart knowledge and training regarding new insurance products, customer service, or internal procedures, etc. 

When all the agents have smartphones, the new educational material can simply be updated on the app, and the agents can access it at their convenience to update their knowledge. Even educational videos can be accessed by the agents in the same way. 

This way of updating the knowledge of the agents saves the insurance company a lot of organization effort and expense. The agents too can peruse the material at their leisure when they are not attending the customer requests or making motor insurance sales pitches.

Paving the Way for Usage Based Insurance

Even today, for the most part, insurance premiums are decided by insurance companies based on actuarial studies, which are essentially a study of the statistics of insurance policies bought and the claims made by customers over a long period of time. 

Apart from the general indicators, an individual customer does not get the chance to get a policy that is customized exactly to his profile. 

Using a smartphone app that communicates with the insurance company via telematics, the insurance company can get a complete picture of the customer’s driving behavior, which they can use to allow him special discounts on his premiums. 

Knowing that the insurance company is able to monitor him makes the customer drive more responsibly and the insurance company also gets the benefit of a reduced number of claims.

Virtual Office for Insurance Agents

A smartphone insurance app enables insurance agents to stay connected to their offices wherever they are and allow them to complete their pending work even when they are away from their desks attending to sales calls or even waiting for meetings to happen. 

Many of the insurance apps have very sophisticated CRM tools for managing the sales force. They can use the apps to obtain information on specific clients so that when they are negotiating with him they are fully informed of his record. 

This knowledge enables them to generate quotations immediately for the customers, a service that is always appreciated. 

The promptness of response to any query of the customer that is enabled due to agents being able to access the company’s vast information base can act as a strong enabler for deals to be concluded successfully at the very first meeting with the client.

Author bio: David Wick is an insurance sales trainer who has designed a number of training modules delivered by smartphone apps for his employer, a leading motor insurance company. David has also designed a training kit for rookie insurance agents that is available at http://rsadirect.ae/

5 Frugal Living Tips for Getting Your Family Through A Tough Time

Tough times can hit just about any family at some point. A lost job, a medical emergency or an altogether down economy can create financial stress. 

There are, however, ways to deal with these difficulties. No matter what the situation is, having financial difficulties is no fun at all and can be really hard to deal with. 

Here are five tips that could help.

Cut Expenses To The Bone

Most families have a fairly substantial amount of fat in their budgets. Whether it's a daily latte at an expensive coffee shop or a super duper expanded cable package with just about every pay channel imaginable, there are ways to cut down on expenses. 

The first step in the process is figuring out where money goes every week or month. Then, the second step is to see what expenses are needs and which are wants. Basic food and hygiene products, clothing, shelter and transportation are needs. 

Just about everything else is a want that should be eliminated until your finances improve.

Downsize

Housing is one of the biggest expenses that a family will have. At times, this can take up to 50 percent of a family's budget. 

Downsizing to the cheapest available living arrangements without sacrificing safety is a good way to get through tough economic times. Once you do this you will be able to see a significant increase in your finances. Downsizing may be hard for a while, but it can be well worth it in the long run.

Sell Unneeded Items

With online retailers like Amazon and eBay, it's possible for just about anyone to reach a global market. There is a very good possibility that there are some unused items lying around just about any home. 

As it's frequently said, one man's trash is another man's treasure. Putting these items online or holding a garage sale can be a great way to bring in some cash to smooth out a financial emergency. This can be a super easy way to get some extra cash.

Get a Side Job

The freelancing economy can be a great way to access some additional cash on a regular basis. While you're not likely to get rich overnight, there are some great options to find jobs that pay. 

Freelance writing, coin grading, like that done at Rocky Mountain Coin Inc., or driving for a service like Uber or Lyft can pay off and provide that little bit of income that's necessary to make ends meet.

Check Out Charities

Those who are really stressed out by limited finances can sometimes find help through local religious or nonprofit organizations that are intended to help those who are in dire straits. 

These groups are set up to benefit those going through a tough time, so it's a great idea to benefit from them if you meet their qualifications. So make sure to see out help if you need it and see if you meet the proper qualifications. There are so many different resources out there for those that are struggling financially. 

That is why it is essential to do your research and find the best help center for you. Just remember that you are never alone and you don’t have to be.

No one knows when a layoff might hit or how long it might take to find a job after getting a pink slip. Those who know where to look for help can weather the storm more successfully than those who do not. These tips can provide options that can allow you to navigate a difficult financial situation.