6 Recession Busting Financial Tips

by: admin - December 16th, 2010   Filed under: Financial Tips to Save You Money

Has the recession got your worried about money? If so, try these 6 recession busting financial tips to help you get your finances on track so you can start breathing a little easier.

Budget – Budgeting will help you make sure that you don’t spend more money than you have coming in every month. This is especially important because it helps you avoid accumulating debt. You can also allocate some money to go into savings each month so that you can cover emergencies and larger purchases in the future without having to use credit or debt to do it.

Cut Spending – This is part of the budgeting process. See where your money is going each month, then look for ways to reduce your costs to make sure that your spending is in line with your income. You can usually shave a lot of spending just by making your coffee and lunch at home instead of buying it everyday. There are also lots of websites out there with frugal living ideas to help you reduce your spending.

Pay Off Debt – As your debts are paid off you will be building financial security and freeing up all that money that is currently going towards your monthly payments. If you are currently struggling to meet your debt obligations, seek help from a credit counselor or financial advisor. If you’re currently able to meet your debt obligations, the easiest way to get your debts paid off without having to spend any extra money is to use the snowball method.

First, don’t accumulate any new debts. Second, keep making your monthly payments until one of your debts is paid off. Third, take the money that was going toward the debt you just paid off and apply it to another debt on your list. Fourth, as more of your debts are paid off, keep applying the money you’ve freed up to the next debt in your list.

Build a Financial Cushion - Once your debts are paid off, start allocating money each month to go into a savings account. Ideally you should aim to save the equivalent of about 6 months of pay. This savings account will be a financial safety net for you should you suddenly lose your income.

Protect Yourself From Financial Tragedy – Making sure you have the right amounts and types of life, auto, home and health insurance will protect you and your family. By properly insuring yourself, you can make sure that unexpected events don’t cause financial hardship for you or your loved ones.

Earn Extra Income – Picking up a part time job, or starting a part time business is an excellent way to help firm up your financial situation. You can put the extra money towards helping to meet your monthly expenses, building your financial cushion, or pay off your debts. Just make sure you reward yourself once in a while for all the hard work you’re doing.

Make the most of your money by implementing these recession busting financial tips today.

Article Source: http://www.articlesbase.com/finance-articles/6-recession-busting-financial-tips-913420.html

About the Author

Colin VanderMeulen is the author of www.financial-advice-for-beginners.com. With several years of experience working in the financial industry, he’s now sharing his knowledge to help others get started on the road to riches. Visit his website for free articles and a free copy of his e-book “Get Your Financial Life On Track: A Step By Step Guide”

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Holiday Financial Tips

by: admin - December 14th, 2010   Filed under: Financial Tips for the Holidays, Financial Tips to Save You Money

Every one is looking forward to a great vacation trip. Need holiday financial tips?

2 or maybe three holidays a year to Europe and the Caribbean are now considered the standard with £74bn being spent on vacations and spending money in 2006, according to Axa. The issue starts when the vacation is over and the feared Visa card bills start landing on the mat! Only then do some people notice that they have spent beyond their means and the ‘holiday hangover’ starts to set in.

Holiday financial tips to forestall the holiday hangover :

? Set a limit – Think about how much you can realistically afford before you decide where you are going and, more importantly, where the money will be coming from. Stick to this budget!

? Start saving – Put some money aside each month leading in to the holiday – don’t forget that most package holiday corporations require the balance to be paid up to 12 weeks before departure. Attempt to put the same amount away and deposit the funds into a separate bank account to bypass the temptation to spend.
Take advantage of special offers and avoid the ‘holiday rush’ period.

? Employ offers – When booking holidays, take advantage of motivations for booking early or bag a bargain by booking a late package deal. Keep an eye open for free kid places and don’t forget to get quotes from several different sources to determine if you can barter the price down.
If possible, use your debit card for transactions ( but don’t forget these are also subject to extra charges ) – avoid money advances on credit cards at any price as the interest rates are typically extraordinarily high.

? Budget daily – Work out a daily budget of likely spend and try to adhere to it while you are away. Do not feel tempted to blow the budget and put the daily meals on a Visa card.

? Quality not quantity – try to resist over-stretching yourself too much even if everyone else appears to be splashing out on foreign vacations. Holiday Financial Tips on Insurance

However [*COMMA] all vacation insurance isn’t the same and costs differ widely, here are 5 top pointers that may help you get the top deal on travel insurance :
? Shop around – do not be pressured to take travel insurance out with your travel agent, it’s not compulsory. There are occasionally more interesting deals available on the high st from banks, outlets and even the Post Office

? Already covered? – you may already have travel insurance – many premium bank accounts have value-added benefits like travel cover as an element of the package. You’ll already have basic travel insurance as a part of your benefits but may be ignorant so ensure you do your homework!

? Don’t pay for what you don’t need – If you only go abroad within Europe, choose a policy that only covers Europe instead of a global policy, as this may frequently be cheaper . Also, don’t pay for winter sports cover unless you need it.


Article Source: http://www.articlesbase.com/personal-finance-articles/holiday-financial-tips-1313271.html

About the Author

Who doesn’t like saving money?

My name is Crystal Collins and I’m a savings junkie obsessed with finding unique ways to make and save money. I like to keep a blog of all my recent findings.

Visit: http://www.feed-your-wallet.com for more great tips and secrets on making and saving money.

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Financial Tips For Christmas Credit And Budgeting

by: admin - December 13th, 2010   Filed under: Financial Tips for the Holidays

The holiday season can be dangerous. It is really tempting to go crazy and buy your family what their hearts desire, on your credit cards. It’s also easy to get drawn into sales promotions at the mall being offered free gifts and discounts in exchange for applying for credit or tempting no interest financing deals. You may be thinking “I can finally afford to buy my husband that 40″ flat screen TV.” 

Get a hold of yourself! 

Don’t apply for credit in exchange for dollar store freebies and 15% discounts. If you use those cards you will face 20%-30% interest rates if you can’t pay your balance in full. Don’t shop with borrowed money! 

No interest finance offers are limited time offers and once the 3, 6 or 12 months have passed and you cannot pay the balance in full, you will face really high interest rates! These are particularly dangerous because no payment/no interest offers make it really easy to spend way more than you originally planned and in electronic store, this spending could get up into the thousands. You don’t know what the future holds, don’t shop with borrowed money. 

You may be thinking that this year has been tough and you are going to have to dip into credit to pull it together. If you absolutely have to shop with borrowed money, here is how you should do it. 

  1. Use your lowest interest, major credit card. This will be better interest and because you are using your credit card, you can go to any store and have more buying/negotiating power.
  2. Make a list of all the gifts you plan to buy.
  3. Research the best bargains available.
  4. Create a table and organize the gifts from lowest price to highest price.
  5. Go down the list and highlight all the cheaper items that you can pay for in cash. When you go to the mall to buy these items bring your list, your cash, do not bring your credit card and do not stop and talk with sales people in the stores. You have one purpose and one purpose only to be there.
  6. Now you have refined your list so that only the top 3-4 most expensive things will go on credit. Try to get them all in one place. If it’s not possible, go directly to the stores, purchase only the listed items and leave. Do not pass go, do not collect I mean spend $200.   

If you don’t have low interest credit you can obtain your True Assess Financial Report card to get a snap shot of your financial profile from the banks perspective and get prepared to apply for a low rate credit product. Remember, banks price their credit products to risk, the greater the risk you present to the bank the higher the interest you will pay. 

Article Source: http://www.articlesbase.com/finance-articles/financial-tips-for-christmas-credit-and-budgeting-3774804.html

About the Author

Assure Assess Corp. is the leading provider of services to law firms, accounting firms, trustees, financial institutions, government and some private enterprise.  Assure Assess has a presence both in Canada and the US and has three primary divisions: Communications, Financial Services and Technology Solutions.  For more information about financial tips for Christmas credit and budgeting visit www.trueassess.com.

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Save Money On Credit Cards!

by: admin - May 7th, 2010   Filed under: Financial Tips to Save You Money

Today’s post may seem a little off topic, however, the best investors are those who pay attention to their total financial picture!  And, the best investors realize that money saved is almost as good as money invested! 

So, today’s financial question is…are you paying too much interest on your credit cards?  Paying too much credit card interest means less for your investment fund so you definitely want to check out the amount of interest you pay each month on all your credit cards, your car loan, even your mortgage loan. 

So, gather up your bills, and compare.  For credit card comparison sites, we recommend www.CompareCreditCardInterestRates.com.  The site has current credit card interest rates for a variety of cards, as well as the national average for each credit rating! 

So, compare your cards, and if you find a better deal, simply apply online via the secure online application system, and start saving on your credit card interest rates as early as today!