Tag Archives: savings

Money Week in Review July 1-July 7

Flexible Spending Accounts points out the advantages of using this benefit that is offered by your employer. Debbie does an excellent job explaining what these can be used for. The most important thing to realize that if you do not use the money you will lose it! Mortgage Insurance and Your Money explains why your bank may have you pay mortgage insurance. This blog explains that the bank is the one that is protected with this insurance. You can also learn how and when you can stop paying it. Are You Only Making Your Minimum Monthly Payments? explains the disadvantages … Continue reading →

Starting a Plan for Home Business Retirement

I’ve written before about how I don’t really see myself “retiring” in the traditional sense of the word. I really can’t picture ever being in a place where I can just stop working all together. But, I have talked to some small and home business owners who are not planning for retirement because they think they WON’T be able to. Just because you are building and running your home business, doesn’t mean that you can’t be planning for a comfortable retirement too. The first step is to see a financial or retirement planner to help set up a strategy. You … Continue reading →

Net Worth

Have you ever taken the time to figure out your net worth? Most people haven’t, but it is an easy formula and often quite interesting. Your net worth is a snapshot into your current financial picture. In order to calculate your personal net worth, you either want a calculator and paper or a spreadsheet program. Some budgeting software packages also have a net worth document. Basically, your net worth is the comparison between your assets and liabilities. For an individual, your assets are the things you own. This could be anything from a possession like a house or car to … Continue reading →

Tips on Saving and Raising Money for College

The following are some ideas and tips to help you make college a reality for your children. Whatever their ages, if you want to ensure your kids receive a quality education, consider the following options. 1. State Sponsored 529 Plans: This is a profitable scenario if your kids are still quite young. With these plans, not only can you save for college, you can also gain tax breaks as well as receive investment earning that are tax-free. 2. Monthly Savings Plans: Any amount you save will be helpful. Try to get in the habit a setting aside a set amount … Continue reading →

Advanced Tips: Save Money in The Shower

Have you read my earlier article about saving money in the shower? It was all about very practical and easy advice for being frugal when getting clean. Now, for the truly frugal, or maybe just adventurous, I can offer you some additional tips. Many times I get comments or messages asking for more advanced ideas. You want to save as much money as possible, a great way to be! When it comes to something as simple as taking a shower, you can still really pinch all of the pennies that come your way. While some of these tips take a … Continue reading →

Should We Force Our Kids to Save?

To be completely honest, I am struggling with the question of whether I should be forcing my kids to save or not. As it happens so often in parenting, the issue of natural consequences vs. discipline is debated. In most cases I usually find some sort of middle ground between telling my kids what to do and letting them find out the “hard” way. But what is the middle ground in learning to save? I know some parents who require their children to save a portion of their allowance, gift money, or earnings either in a true bank savings account … Continue reading →

Save Money on Your Health Insurance

Health insurance seems to get more expensive every year. It also feels as though they are covering less each year. There are several things that you can do or consider in order to save money when it comes to health care. Your decisions really should be based on your personal situation in regards to you and your family’s health and financial condition. One option is to purchase insurance through your employer. This is a good option, because the insurance rate will not jump up if you become sick. It will increase as a group plan a little every year, but … Continue reading →

Have You Considered Downsizing?

Have you considered downsizing in order for you to live comfortably and plan for retirement? Many people are considering doing this. It does mean several quite drastic changes in your lifestyle, but you may be surprised at how pleasant your life is as well. I live in an area where many families are moving because of the relatively low cost of living here. Here are some things to consider before you move. 1) One thing that will likely change is your job. You may have to take a small pay decrease because the median salary is lower in a lower … Continue reading →

Save Money on Medical Bills

Do you pay attention to the medical bills you receive, or do you just pay them and forget about it? Do you pay your medical bill the day it is due, or once the insurance has processed it? Do you read all those forms that the insurance company sends you regarding service provided? Medical bills and insurance can be tricky to figure out, but it is important to stay on top of it. Recently I had my third child. This time I was able to deliver naturally—meaning no epidural, no pain medication of any kind. The reason I bring this … Continue reading →

Five Changes When You Go From Two Incomes to One Income

If you are considering switching from a two-income family to a one-income family, there are several things that you will need to consider as you make the change. You need to make sure that you can afford to make the change. If you feel that you can here are five things to consider to make the transition smoother. 1) You need to make sure that your entire family still has health insurance coverage. It is important to take this factor into account when you are considering your new budget. Health insurance coverage can vary widely from company to company and … Continue reading →