Spending Less 101 » Economy

Learn How To Stabilize Your Finances

John — Mon, 16 Feb 2009 07:00:10 +0000

If there is one thing that you can be sure of regarding the economy it is this: it will change. Like most other things in life the economy goes through cycles and while you may not be able to predict when things will improve or decline you can bet that they will. As families struggle through the current recession it is important to remember that this is not the first nor the last time that the economy will take a turn for the worse. In knowing this you should also know there are a few simple ways to prepare you finances to ensure you weather the current cycle and remain in a position to benefit when the economy takes it’s next turn; hopefully for the better.

Have multiple streams of income- A few decades ago it was standard procedure to graduate from either high school or college and establish yourself with a company for the long haul. Those times have changes and if you wish to be financially secure it is important to understand the benefit of having multiple streams of income. Even if you have a great job with a great salary in times when the economy falters layoffs and downsizing become a reality many people are simply not prepared for. If you depend on just one source of income and you lose that income your finances can quickly take a turn for the worse. If you are fortunate enough to have a severance package you may be able to live off of that for a period of time, but you will eventually have to find another job and in the interim you may have to dip into your savings to survive.
Diversity is the key- Similar to the first tip, having a diverse portfolio is the best way to protect yourself from losing everything in one fell swoop. The economy is simply not predictable enough at any time to have all of your eggs in one basket. Your age and the age at which you want to retire play a big factor in how risky you want to be in the market, but you should always spread your investments in a way that some money is safely tucked away slowly making more money.
Manage your debt- An import lesson was brought to attention in the last year. Millions of people have learned that their spending and saving habits leave a lot to be desired. If you have debt now is the time to tackle it once and for all. If you can do it on your own by cutting costs and focusing serious energy and efforts toward debt reduction- then by all means go for it. Keep in mind that you will likely have to take a serious look at your lifestyle and make appropriate changes to ensure you do not dig yourself out of debt only to find yourself back in debt from using credit cards or overspending. If you are overwhelmed and your debt is making it impossible to move forward financially it is time to look into the various debt relief options available to you.

Managing your finances does not have to be a game of chance, by using common sense and paying attention to where your money is coming from and going you should be able to stabilize your finances without much difficulty.

Trisha L. Wagner is a writer for Debt Free Destiny, where she writes regularly about debt consolidation, debt management, and saving money.

Article Source: http://EzineArticles.com/?expert=Trisha_L._Wagner

Now that the holidays are over…

John — Mon, 29 Dec 2008 22:41:42 +0000

Make sure you lock your doors and windows, leave a radio on low volume when you leave the house unoccupied, and report any strange activity in your neighborhood. The thieves will be out in force because the things you bought for Christmas are no longer safe in a secure warehouse or locked and alarmed department store. Those things are now in your mostly-unsecured homes.

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The economy is in the midst of her death throes. Violence and crime are projected to escalate as people begin to lose their jobs. The waning days of the credit frenzy is causing many to realize there life has had no real meaning. The consumer based economy is over and people are beginning to panic. The criminals are salivating at the realization that people’s distrust of banks are causing them to store their money at home.

Burglary is the act of entering a building with the intention of committing theft. These crimes may escalate as the economy collapses further. While insidious, burglaries are often crimes of opportunity and are not usually planned in advance. Because of this, you can often thwart burglars with very simple precautions. I have included six basic steps to prevent your home from being broken into.

1. Present your home as if it is occupied at all times. Burglars will often bypass occupied homes for vacant ones.

2. Use automatic timers on lights when you will not be at home. Try to arrange the lights so that they come on and off based on the normal pattern you usually follow when you are home.

3. Always use your garage when parking cars. Make sure all windows have curtains drawn at all times so that a potential burglar cannot look into your garage window and determine if you are home or not.

4. Do not create patterns. If you open a certain curtain only when your home you could be signaling a person who is staking you out that you are not home.

5. Place radios on automatic timers and turn the volume up so that they can be heard outside.

6. Lower the ringer of your phone and voicemail machine so that no one can hear it from outside your window. A constantly ringing phone or a voicemail message will signal that no one is home.

7. Never leave notes on your door letting people know when you will be back.

8. If you are going to be away for a few days suspend all newspaper and mail deliveries. Nothing says ‘vacant house’ louder than a pile of unread newspaper in your driveway.

By following these simple 8 steps you will be better prepared to survive the worst attack a burglar can throw at you.

Robert Padgett is the author of a blog called, Survive the Worst. This site is dedicated to surviving the worst conditions imaginable. From man-made disasters such as war, terrorism, civil unrest,industrial accidents and power failures to Natural disasters such as Storms, Blizzards, Hurricanes, Tornadoes, Earthquakes, Floods, and Fires we will offer insight into how to prepare for any situation.

http://survivetheworst.blogspot.com/2008/12/survival-panic-expected-to-spur-crime.html

Article Source: http://EzineArticles.com/?expert=Robert_Padgett

9 Recession Survival Tips

John — Mon, 29 Dec 2008 18:19:31 +0000

As the economy continues to slow here are 9 tips to survive and thrive through the recession.

1. Value Not Price.

When you go to the store don’t assume the lowest priced product is the “cheapest.” You have to look at a number of factors when choosing what is the best use of your money. Factors including: lifespan, quality of result, and ongoing operating costs. Many times the more expensive product will be a much better value and save you money in the long term.

2. Buy Store Brands.

Selecting store brands over name brands often results in savings of 15-50% for the same quality of product. Most grocery stores have the price broken down to price per a smaller unit to be able to quickly compare the cost across a range of sizes.

3. Adjust the Thermostat.

On a monthly basis the electric bill is one of the largest monthly family expenses. According to Nevada Power setting the thermostat to 78* in the summer and 68* in the winter will save 10-25% a month. To make a room feel cooler use fans to improve air circulation when you are there.

4. Start a Home Business.

Home business owners have many advantages over their non-business owning neighbors. The two biggest reasons are additional income and preferential tax status.

Robert Kiyosaki the author of rich dad poor dad advocates participation in network marketing. Network marketing allows an individual to open a business for very little money down and a small ongoing operating cost. The real power of networking is the ability to create leverage. That is you get paid on your retail sales and you receive an override on sales made by those you recruit into the business. The overrides while a fraction of the personal sales commission can create an ongoing residual income that can last for years.

Finding the right company can be difficult. There are a large variety of products, services and compensation plans to make the decision confusing and difficult.

I recommend a company called Financial Destination Inc. The company provides a variety of financial solutions that are in great demand and will be needed for years to come. All of the services are provided by experts. Independent representatives are only responsible for recruiting members and helping others who wish to participate in the business opportunity.

Go to www.FDIAMERICA.com to learn more.

Owning your own home business also opens up a world of tax deductions that can save you hundreds or thousands of dollars every April 15th.

5. Plan Your Errands & Route.

Before you start driving around town write down all the places you have to go and plan your route. By planning ahead you can often do all your errands in less time and drive fewer miles saving on gas.

6. Don’t Neglect Regular Scheduled Car Maintenance.

Your mechanic will tell you it is cheaper to maintain the health of your car than fix it after it breaks.

Having a clean air filter keeps your car breathing easy. Properly inflated tires are safer and more efficient. While not a major difference over the long haul it will save you money on fuel and the tires will last the expected lifetime.

If you have full synthetic oil in your car it is likely that you should be changing your oil every 4,500 – 6,000 instead of every 3,000. This saves you 1 or 2 oil changes a year that can be $40-100 a year.

7. Discount Card Programs.

There are discount cards for just about everything. Prescriptions, vision, dental, restaurants and retail shopping. These discount programs can help you save 10-50% on many of the things you already purchase on a regular basis.

8. Downgrade Your Cable or Satellite.

999 channels and nothings on. Look at what premium channels you watch on a regular basis and what channels you only have for one show. Most of the most popular shows on TV you can buy individually and through the internet. Instead of spending $20 a month for Showtime to watch 15 episodes of Weeds you can buy the entire third season from iTunes for $29. A savings of $211 a year.

9. Go on a Diet.

Portion sizes have increased dramatically in the last 50 years, so have peoples pants sizes. You can save money and your health by cutting down on the size of meals you cook and eat. If you are not big on cooking in the weekly grocery store mailers you will find Lean Cuisine or Healthy Choice meals are almost always on sale at one of the major grocery store chains.

While times are tough it is often the small things that you can change easily and still maintain your comfortable lifestyle.

Bob Firestone
bobfirestone.us

Bob specializes in building home businesses that create residual passive streams of income. Visit his website http://www.bobfirestone.us for more information on available business opportunities.

Article Source: http://EzineArticles.com/?expert=Bob_B_Firestone

Digest for 12/08/08

John — Mon, 08 Dec 2008 09:07:55 +0000

Cheaper Health Care in a Tough Economy

John — Fri, 05 Dec 2008 16:52:19 +0000

Saving money is more important than ever right now. How about saving money on health care? Have you thought about how you are going to save money on health care? I have.

1. Examine the meds you are taking: Do you need all of those medications? Have you been taking them for years? If so, maybe it’s time to go to the Dr. and get a full checkup. Maybe there are one or two meds you can go off of and save the monthly prescription co-pay. DO not, however, stop taking your meds without consulting your doctor.

2. Stick to the meds you do need: Stay on a regular schedule with the meds you do have to take. This will keep you out of the doctor’s office and out of the hospital.

3. Ask your doctor to switch you to generic versions of the meds you have to take. The cost factor makes this one obvious.

4. Eat healthier: You will be healthier if you eat healthier. Eat more fruits and vegetables. Take a multi-vitamin daily.

5. Exercise: Even 20 minutes a day, 3 times a week will help. Don’t go overboard, or you will be spending MORE on medical.

6. Claim denied? Fight it: Most health insurance claim appeals are successful. The insurance company is playing the odds that you will not fight the denial of the claim.

7. Ask your doctor for samples: If your doctor puts you on a medication, ask if they have samples they can give you. If it’s a short-term medication, you may even be able to get by totally on samples.

What are your suggestions on cheaper health care?

Sam’s Club Pricing Secret

John — Wed, 03 Dec 2008 14:27:15 +0000

I was surfing along when I came across a post about Sam’s Club pricing. The person said that is the last digit of the price was a 1 (one), the item had been marked down and was being sold below cost. I did a little digging and I was able to find several other posts talking about the same thing.

I thought I would pass this along. We can all benefit from every angle in this tough economy. By the way, if you have knowledge of this, please leave a comment and let us know about it.

Heroes at Home

John — Wed, 03 Dec 2008 02:36:09 +0000

I’ve always been an advocate for helping out the men and women who protect our freedom. You have families living in separate parts of the world because members of that family decided to do something to serve their country. We are sitting at home in our nice warm houses, enjoying our cable tv, video games, and Internet surfing. That doesn’t seem air. The least we can do is thank them…but we can do so much more.

Not only is it important to help out the families of the people fighting for this country…at any time, it is especially important right now, with the economy being the way it is. The military does not pay much, as it is and the economy has made a bad situation worse.

Sears is running a program called Heros at Home. The program allows military families to recieve some of the items they need. Here is how it works.

Military families go to the Sears Heroes at Home Wish Registry, where they sign up to be in the program. YOU go to registry and donate money. They money is given to military families, in the form of Sears gift cards, which will allow those families to get the things hey have registered for on the site.

Be a hero this Christmas season… Donate to the Sears Heroes at Home Wish Registry.

Free Magazines

John — Tue, 02 Dec 2008 16:31:55 +0000

Interested in FREE MAGAZINES? Anything FREE is a good thing, right? Well, maybe not. Free Strep Throat…not good. Free punches in the head…not good.

There are a ton of magazines out there that have free subscriptions. Now, I could make a massive list of these, like over at FrugalSimplicity.com, but I’m not that interested in spending days making a blog post. I’m not going to do that. What I am going to give you is much, much better. I am going to give you a small list of massive lists…of places to get free magazine subscriptions. Just the thing to give at Christmas in a down economy, right?

Here is the list…

That’s enough for now. If you were not able to find what you needed from these links, something is wrong with you. If that is the case, here is a Google search you can use to find what you are really looking for and here is another Google search to help you find a psychiatrist.

President Barack Obama

John — Wed, 05 Nov 2008 04:15:46 +0000

With the state of the economy, I believe Barack Obama will be the best thing that our country (and our economy) needs.

Use locking gas caps to keep your gas safe…

John — Sun, 07 Sep 2008 09:00:00 +0000

Some people out there think they are entitled to just take what they want. They have twisted the theory of survival of the fittest. I have some ideas as to what to do with these people. Don’t let me catch someone trying to steal my gas.

Unfortunately, with the economy being the way it is right now and the fact that gas prices are above $3.50 per gallon, more and more people are stealing gas.

Protect you gas by purchasing a locking gas cap. I’ve had one ever since gas prices hit $2.00 per gallon years ago. At the time, locking gas caps were selling like hot cakes and I could not find the right model for my car. I ended up buying it online.

By the way, I know I wrote about this before, but I thought the subject needed to be reitterated.

Digest for 09/01/08

John — Mon, 01 Sep 2008 09:22:52 +0000

Saving money on education in a tough economy

John — Sat, 30 Aug 2008 06:50:24 +0000

Save money on education

With the economy in flux and the future uncertain, many people are looking for creative ways to save money on education. One approach people are using is to stay closer to home, when attending college. The money-saving part is to attend community college instead of going across the country to attend a four-year institution.

Community colleges are typically cheaper than four-year institutions. Also, if the student does not leave the house to leave in a dorm on campus, they can save money on food, rent, etc. Of course, this will cost the parents more, but most parents feel better about having their children close.

Taking classes online is another way of saving money. Schools like Strayer university Online and University of Phoenix are two big online schools. I took 2 online courses from Strayer University Online and I found the experience to fit into my busy lifestyle very well. Going to school online saves on gas, food, tuition, etc.

Save money on college textbooks

John — Fri, 29 Aug 2008 14:09:51 +0000

If you have ever gone to college for at least a full semester of classes, or you have children who do, you know that nest to the cost of tuition, the cost of books is one of the biggest things you spend money on. In this economy, who can afford to spend all of that money on books?

As an alternative, many people are turning to purchasing their books online. Places like half.com and amazon.com provide you with the opportunity to purchase used books (including college textbooks) from various sellers around the country. Some of these sellers are getting rid of current versions of the very same college textbooks you might be purchasing for your child this school year.

Aside from purchasing used college textbooks, there is a new service out there called bookrenter.com. This service offers books for less than 1/2 the price of retail (meaning, less than your friendly neighborhood college bookstore).

Renting a book online is just like renting from NetFlix or your neighborhood video rental store. You must return the books without chili-cheese fries between the pages and without a bunch of dog-eared pages. You have to return them in good condition. If you highlight the pages, you will pay. This could be one downside to renting because highlighting is pretty common in college learning.

More information on renting books online can be found at bookrenter.com

Save Money By Talking To Your Creditors

John — Fri, 08 Aug 2008 13:57:55 +0000

If you ended up in a bad position financially, and it happens to the best of us, one tip you can take to heart is to talk to your creditors. The phone may be ringing off the hook and stressing you out. Maybe you are ignoring the calls, only to field 19 hangup messages on your answering machine (of course, they don’t leave a message). Instead of getting stressed out, just determine what you can pay each creditor each month, give them a call, and let them know that you are in a bad position right now, but you want to fulfill your obligation. Let them know that you can pay and when. Be realistic. I can tell you from experience that the following creditors have special programs in place to help those that are behind in their payments:

The down economy is affecting just about everyone. Based on that, I am expanding the scope of Spending Less 101 to include debt reduction information.

Digest for 06/30/08

John — Mon, 30 Jun 2008 09:06:41 +0000

Obama and Clinton Set The Tone For What Kind Of Economy?

John — Sat, 28 Jun 2008 06:15:00 +0000

So what does that have to do with saving money. It’s probably a good idea that you know the answer to this question because politics does affect the economy. Now, maybe Clinton will have something to do with the answer to this question; maybe not. Regardless of that, Obama will because Obama is in the race for president.

The place to start to locate the answer to the question is how his voting record has affected the price of good on the market. Here are some links to information about the votes he has taken while in public office:

If more information is needed, here is what others are saying about Senator Obama’s potential effect on the economy:

No one really knows what the effect on the economy would be. The Republicans want to give the appearance of helping out and the Democrats what to help everyone. Me? I just want to be able to pay my bills without worrying where the money is going to come from.

Digest for 06/23/08

John — Mon, 23 Jun 2008 09:06:35 +0000

New fuel economy information from the government…

John — Fri, 20 Jun 2008 17:30:59 +0000

I was looking for the manufacturers estimated gas mileage for my case and I found this great site that I thought you should know about. It’s called fueleconomy.gov. Not only did it have the specifics of my vehicle, it also contains videos on increasing your gas mileage, gasoline prices around the country, gas mileage tips, hybrid car information, diesel and bio-diesel information, and much more. You can even compare fuel consumption and green-house gas emissions one vehicles side-by-side. I think the site is great, but I have to wonder how many millions went to the government contractor that won that bid.

Spending Less 101 Coffee Contest

John — Fri, 23 May 2008 16:37:09 +0000

I received a $10.00 gift card to Starbucks from my mortgage company. I love coffee so Starbucks seems like as good a place as any to get my coffee. Also, with the current economy, any financial help one can get is greatly appreciated. Instead of thinking of myself and running over to Starbucks as soon as I received the card, I thought of my blog readers…hence this contest.

I am holding the very first Spending Less 101 contest.

The prize is a $10.00 Starbucks Gift Card.

The Requirements:

Post about this contest on your blog…
Add this blog to the blogroll on your blog
Digg this post…
Leave a comment here including a link to your blog post and a link to your submission on Digg…

Those who have their comment in by 5/30/2008 and who have met all of the requirements will be entered in the drawing, which I will hold on 5/31/2008.

Cheap Computer Equipment

John — Mon, 28 Apr 2008 14:00:17 +0000

If you ever wanted to save money on computer equipment, PriceWatch.com is the site for you. From hard drives to digital cameras, they gather all of the prices from sites on the Internet, and present them all to you.

Your normal course of action to find computer equipment that you wish to purchase online is probably to go from website to website until you see a price that seems like it’s the lowest. With PriceWatch.com, you can find the best deal at one place.

The site has all of the information you need to make your purchasing decision, including shipping cost and details, links to the originating web site, and in some cases, you can even get a better deal based on the fact that you made your purchase from PriceWatch.com.

In the current economy, everyone is watching their money and trying to spend less. PriceWatch.com can help you achieve your goal.

Take a look at these reviews on other web sites:

I’ve used this site to purchase a lot of equipment over the years. I’ve never had any problems with the site and was impressed with the fact that the prices are kept up-to-date.