Talk to the Experts

I have learned over the years that you are usually one of two kinds of people. Those who tend to always think the worst-case scenario or those you always image the best. When it comes to money planning, both of these personality types can negatively affect you. While the glass is half-full types may disagree, always looking at the bright side could mean you overestimate your financial situation. In turn, the half empties may never get ahead thinking their chances of financial success are slim to none. While most people are not entirely one way or the other, we all … Continue reading →

Take Advantage of Automatic Savings Plans

Most of us are weaklings when it comes to money. There are so many fun things to buy and interesting ways to spend. How can we keep on track? The simplest way to ensure you actually save for the future is to use automatic savings plans. There are many ways to pay yourself first. Systematic investing through automatic accounts help you stay on track with your long term goals. One method of automatic saving is through your own bank. You can arrange to have an specific dollar amount withdrawn from your checking account each month, much like paying a bill. … Continue reading →

Life Stages

Different life stages call for different money goals. Where do you fit in? Getting Started If you are early in your career, it is a perfect time to build a strong financial foundation. Good money goals are: 1. Pay down all your debt. 2. Establish an emergency fund and tuck it away tight. 3. Start up a savings account for longer term goals and larger purchases so you can avoid adding to your debt. 4. Invest in your retirement funds. Shoot for a target of 15% of your income, as early in your life you tend to have less financial … Continue reading →

Auto Savings Accounts

Saving is tough, especially with so much out there begging for your dollar. It could be the crying child in the store or the fancy new car advertised on TV, whatever the item, it certainly tugs at your purse strings. In addition, budgeting is a challenge and no matter how much you make, you seem to spend it all. Where does all that money go and how can we learn better to save for that rainy day? The best method is to trick your pocketbook. You can do this easily with auto savings accounts. Have you seen the latest ads … Continue reading →

What We Are Saving For!

In a previous post I shared how Hubby and I have a long term emergency fund and a short term emergency fund, so far, using the same account. Our account are separate on paper, so we can keep track of the cash and were we want it to go. We’ve also got a written list of items that aren’t part of our monthly expenses, but we need to save for each month: Presents: Christmas, Birthdays etc. These type of items come up almost every month. My toddler gets invited to a birthday party – a grandchild has a birthday – … Continue reading →

Saving Money Versus Paying Off Debt

Is it wiser to pay off your debt aggressively or should you begin to put money in savings? How do you decide which is best for your situation? This answer is a tricky one and one that you ultimately will need to decide. The first step is to make sure that you are no longer living beyond your means. It does not make a lot of sense to be putting five hundred dollars a month into savings while you are charging that much or more a month on your credit card. If you have your spending habits under control, then … Continue reading →

Using Found Money to Achieve Your Financial Goals

Lots of times money comes into our hands, wallets, or bank accounts, and finds its way out again just as quickly. I’m talking about that birthday gift from Grandma or the rebate check that arrived in the mail. What was it used for? A drive-thru meal at McDonald’s? Snacks at the movies? Maybe you have no idea? All of us have that kind of “found money” that makes its way into our lives. Often times it was unexpected or forgotten about until it arrived. Therefore we have no real plan for it. Here are some common examples of found money: … Continue reading →

Do It Yourself as as Savings Strategy

One way to save significant amounts of money is to do it yourself. When you think of doing it yourself, the image of someone doing large-scale home improvements probably comes to mind. That is only one kind of do it yourselfer, however. Our busier lives mean that we have “outsourced” more and more tasks to others. Personal chefs, personal trainers, dog walkers…all are common professions these days. Below is a list of tasks to get you thinking about what kinds of things you might be paying others to do that you could do yourself. By choosing just a few to … Continue reading →