Avoid Overspending: Six Services And Items You Can Save On With Little Effort

Although many people consistently overpay due to self negligence and laziness, there are many individuals who are simply unaware of the numerous money-saving opportunities that require little physical or mental expenditure. 

Personal Money Management Websites

Want to create a personalized budget on the fly or create a savings goal to meet by the end of the quarter? It's important to know where your money is being spent and exactly how much you have left in your account. Money management sites like Mint.com and Yodlee Money Center offer software to users for free. Take the time to set it up and see exactly the state of your financial affairs. 

Add Insulation to Your Home and Attic

This age-old advice is not put into practice nearly enough. Heat is measured in the form of BTUs, or "therms", and each BTU costs about a dollar. When not insulated correctly, BTUs will be lost through a process known as thermal transmittance. Evaluate the amount of heat you lose and fix the deficiencies to ensure your money isn't being wasted. 

Library Registration

Instead of shelling out hard-earned cash each week for the latest Grisham novel or the most recent Blu-Ray release, register for a card at your local library. Most have extensive collections of Movies and TV shows, both current and classics. Because the registration for a library card is inexpensive, it pays off to go there for your next read or new movie.

Cash In With Rewards Cards

Game the system with rewards credit cards. Most people, unfortunately, associate credit cards with needless debt, but there are many cards that offer significant perks for their users. Search the web and peruse the plethora of options available. Use a credit card that offers rewards for services you use a lot or are interested in, like gas, travel and food.

House Swap

Planning a trip to a far-off or expensive place? You might want to look into swapping residencies with someone from your intended area of visit. Instead of paying extravagant hotel fees, the two parties simply switch places, free of charge to both. Be sure to thoroughly research website that offer these services to make sure it is reputable. 

Home Maintenance

This is an oft-overlooked area of saving for homeowners. Most people see home maintenance as an avoidable expense, but as any homeowner knows, this is not the case. Sometimes, homeowners can fix repairs and minor problems around the home, but many don't know that calling in a professional can actually save future costs and jobs done incorrectly. This is especially true with plumbing problems. Calling an expert can save you a lot of money and time on repairs you can't do yourself, says the professionals at Amyotte's Plumbing & Heating Ltd.

Too often, people choose what is expedient over what is proactive. Start saving today by following these simple tips to avoid unnecessary overspending.

Six Things Everyone Forgets to Include in Their Will

Making a will is one of the most important things to do, but many people never bother to do so. A living will is a legal instrument designed to provide protection and support for those that will be negatively affected by your death. Even worse, those who have wills often forget some very basic considerations. Make sure your will includes provisions for these important aspects.

Review Your Will

A will is a living document and needs to be reviewed at least every other year for changes in the inheritance laws. Through the years, people become adults, they marry, have children, and become involved in schemes or business you may want to restrict. In short, everything changes and your will should change with it. In nothing else, updating your will shows that you are aware of its provisions and desire to continue with the exceptions of changes that you make.

Get Your Ducks All in a Row

Some items of personal property are not superseded by the will. This includes designated beneficiaries of life insurance, survivor’s benefits, and other items. For example, if you work life insurance lists your mother as the beneficiary she will get the proceeds even if your will says these should go to your wife and children. It is a good idea to simply re-designate beneficiaries every three to five years and to keep a list of who receives what with your will.

Owning Your Life Insurance

You might want to pay for the premiums on your life insurance, but designate the ownership to a trust or someone else besides you. The reason for this is while beneficiaries don’t pay income tax on these proceeds, if you own it, the payout will become part of your estate for tax purposes, regardless of what the will states. Don’t let the value of these items cost your family a bunch of estate taxes. 

Not Designating Personal Property in Your Will

Do you really want the people in your family fighting over your clothes, or a carefully preserved collection of baseball cards? It is far easier on everyone if you designate what you want to happen to your personal property, and this includes pets. If possible, provide several options in order of precedence. Let’s say you want your son Tom to take your cat. However, Tom can’t take your cat; his wife is allergic. So, include a couple of options so kitty doesn’t end up at the pound, or your collection in the trash.

Using an Online Kit to Do Your Will

Take the time to find a lawyer in Newmarket who is an expert in estate law to assist you with your will. If you can’t afford this now, a kit may be better than no will at all. But, as soon as you can, get that SBMB Law expert involved. They are worth the cost. Remember, each states has separate laws regarding inheritance, and of course, there are federal statues as well.

Leaving Bequests That Don’t Exist

If you leave bequests that cannot be realized by the value of your estate after the debts are paid, then decisions must be made. This could land your estate in probate, or other types of court as your heirs sue for their share. Don’t do this. Keep your debts and your bequests reasoned out and review them frequently. Remember, your funeral costs will come out of the estate as well.

As you can see, there are a great many details to include when looking at putting together a will. This is not a procedure that should be rushed, but attended to carefully by each of us.

What Should You Do If You Don’t Have Enough Money to Pay the Bills?

Many of us get into this predicament from time to time. The month drags on, we spend a little money to have some fun, and then that bill comes in that we totally forgot about. This can be a terrible feeling, but there are a few ways that you could earn some quick money in order to pay this bill.

1) Sell Stuff

Every single one of us has items that other people would pay money for. Maybe you own an ATV or an extra vehicle. Or, maybe you have some old baseball cards in the basement that could fetch a little money. If you are really desperate and have no choice but to pay this bill, then start looking at your furniture or appliances to sell. You can honestly do without them for a while and it could earn you a few hundred bucks quite quickly.

2) Collect Debts from Others

When you have a bill due, this can be the perfect time for you to pay a visit to your friend that owes you some money from a few weeks ago. Hopefully, they have some cash and can pay you back so that you can take care of your bill. If not, then you may be able to borrow some money from another friend and agree to pay them back at a later date.

3) Gamble

Since you don’t have enough money to pay the bill in its entirety (and will therefore be late in paying anyway), then why not head to the local casino (some say the best online gambling in nj) and spend what you have left at the tables? You might get lucky and earn enough to pay that bill after all.

Have you ever been in this situation? What did you do?

Retiring Right: Is Your Home Ready for Your Golden Years?

retirement (Photo credit: 401(K) 2013)

If you are planning on retiring soon, there is a lot to do in order to feel prepared. This includes tedious paperwork, as well as cleaning out your junk and getting your home ready. As you enter retirement, it is important to review all aspects of your life and prepare early so you can enjoy all your later years without stress. Whether you are looking for a new home, or improving your current home, make sure it is ready for your golden years. Ask yourself the following questions to decide if your home is ready.

Where is it?

As you get older, you may notice your driving skills diminish. If possible, make sure your home is close to public transit, or within walking distance of the places you go regularly, like the grocery store and pharmacy.

If you are considering moving when you retire, try going closer to family who can help you with transportation and keep you company. You should also look at areas with nice temperate climates so you don’t have to worry about health issues that arise from extreme temperatures.

How will you be spending your time?

When you retire, you may find you have a lot of free time on your hands. How do you want to spend it? Would you like to help take care of your grandkids, join a bowling team, or spend more time in the garden? Make sure your home and community are suited to how you’d like to spend your time. If you don’t know what you want to do yet, don’t stress. Try a few different hobbies and classes to see what kinds of things you enjoy.

How much space do you need?

If you plan on spending your retirement years travelling, you might want to consider downsizing to a smaller home base. If, however, you are planning on hosting visiting family members and friends, you may want a bigger home with a guest room. Shop some furniture sales for a comfy bed and stock up on linens so your visitors have an easy place to stay when they come to see you.

Is it accessible?

Is your home easy to get around in? Hopefully your health remains robust as you age, but your mobility may be limited. Even if you have no problems now, remember that it is easier to get injured, and harder to recover from injury when you are older. Have your bathroom checked out by a local plumber like CampbellCare Plumbing, Heating & Air, who can install grab bars near the toilet and bathtub to prevent falls. You could also consider installing ramps or moving to a one level home if you are concerned about climbing stairs.

Is it low maintenance?

Make sure that your home will be easy to maintain in your retirement. You want to spend your free time cultivating hobbies, exploring the world, and spending time with loved ones, not worrying about home repairs and yard maintenance. Will the yard require a lot of mowing? Does the driveway need to be cleared in the winter? Is the kitchen relatively easy to clean? Is the bathroom in good repair? Make the necessary repairs and changes now so you won’t have to worry about issues in your retirement.

Answer these questions to decide whether or not you are ready to retire. Maybe you want to move to a new home, or just spruce up the one you are in. Make the right choice for your health and lifestyle needs so your retirement years will be fulfilling and worry free.