Women need to be rich. They live longer but they earn less, invest less and know less than men about money. There is gender inequality in global wealth. With the economy slowing down, it is more important than ever to become wealthy. Here are 10 reasons you need to become a rich woman.
Rich Women - 10 Reasons You Need to Join the Club
By [http://ezinearticles.com/?expert=Joanna_Penn]Joanna Penn
There is gender inequality in global wealth. Men earn more money. Men invest more money. Men save more money. Men run more companies. Yet women live longer and 50% of marriages end in divorce, so women will be alone at some point in their lives. 3 out of 4 elderly women live in poverty, but most weren't poor when their men were alive. With the economy slowing down, it is more important than ever to become wealthy. Here are 10 reasons you need to become a rich woman.
1. Independence. Learning to create and control money will release you from dependence on any one person, or the government.
2. Self-esteem. If you learn how to be financially independent, you will grow in self-confidence and this will enhance your relationships at all levels. You can look after yourself and your family financially.
3. Protection of you and yours. In these times of economic doubt, protection of your home and your assets is critical. Creating wealth and understanding money will help protect what you have already.
4. Providing for your family. New ways of creating multiple streams of income can help you enhance life for all the family.
5. Live the life of your dreams. With the wealth you create, you can have that fantastic house, amazing new car and travel when you like. You can send the kids to the best college, and have that new wardrobe. You can live the life of your dreams.
6. Equality. Why should men make all the money? Women are good investors and money managers, as well as great entrepreneurs. We just have some catching up to do.
7. Giving. When you have money, you can give more away. Bill Gates and Warren Buffett gave more to charity than whole countries can earn. The richer you are, the more you can give.
8. Freedom and choice. If you are wealthy, you have the choice over what you do with your time, and your life. You have the freedom to work at what you want, to travel when you want, to spend what you want. You have choices that you do not have now.
9. For your future. There won't be a government pension for most people, or it will be so little it will mean life on the poverty line. If you want to have a future worth looking forward to, you need to ensure you are financially secure.
10. Just to prove you can do it! Maybe you have always wanted to be rich, you just didn't know how to do it. Challenge yourself. Find out how and take action!
Joanna Penn is an author, speaker and consultant.
Get your Free "7 Secrets of Millionaires" audio and report at http://www.GirlsCreateWealth.com
Article Source: http://EzineArticles.com/?expert=Joanna_Penn http://EzineArticles.com/?Rich-Women---10-Reasons-You-Need-to-Join-the-Club&id=1558418
Showing posts with label money. Show all posts
Showing posts with label money. Show all posts
Sunday, October 12, 2008
Surviving a Stock Market Crash - 5 Tips to Show You How
It is scary when you see most everything you own declining in value and with it, all your dreams of retirement, education or a home. You can and will survive this by following these 5 tips.
Surviving a Stock Market Crash - 5 Tips to Show You How
By [http://ezinearticles.com/?expert=Fern_Alix_LaRocca]Fern Alix LaRocca
It is scary when the money you were counting on for retirement, education, or your home is rapidly declining in value. Don't panic though. Here are some 5 tips to help you survive:
1. People are living longer:
Males that reach the age of 65 nowadays will have a 49% chance of living to 86. Women will have a 49% chance of living to age 89. With that in mind, it's obvious that you will still need the help of equities (stocks and stock mutual funds) to help you grow your portfolio and keep ahead of taxes and inflation.
Don't abandon these investments.
2. Rebalance where necessary.
Take a look at your portfolio winners. If you had targeted say 20% in international and it is now 30% of your portfolio. Sell enough to bring it back down to 20% and use that cash to invest in another sector that you don't own. Remember that you don't have a realized loss until you sell. Take just enough of a loss to offset the gain that you took above, and then you will pay no tax on the transaction.
3. Diversify.
Don't have any winners? Then you weren't diversified enough to begin with. You should have had enough in each asset class (large-cap, mid-cap, small-cap, international, etc.) and each style (growth, value, blend, balanced, etc.) to create an investment plan to reach the return you need with the risk you are comfortable with, and in the time period that you targeted. Believe it or not, there are some mutual funds that have managed to keep their returns higher than the more than 23% loss of the S&P500 Index this year. There are a lot of free resources such as morningstar.com that will give you the data you need to diversify and feel better about your holdings.
4. Make decisions now.
Act now. Don't look for bottoms. You don't ever know where the bottom is but you do know that stocks are steadily getting cheaper and there are some fantastic buys out there. You may not have control over the market but you do have control over what you buy and what you sell. Don't wait.
5. Get a guaranteed income for life.
Along with positions of cash, bonds, and equities, a fixed annuity should play a part in a portfolio of someone close to working part-time or retiring altogether. An annuity is an insurance contract that in return for a lump sum of money gives you a steady fixed stream of income that is guaranteed for your life or the life of you and your spouse. For people who want to spread out their risk, this is an excellent addition to a portfolio. The downside is that you don't get any inflation protection since the payments remain the same. The upside is that you get an income stream guaranteed by the insurer so you don't have to worry about managing the money. Of course, you need to make sure the insurer is financially strong enough to be able to pay you throughout the term of the contract.
People like Floyd Odlum made millions during the Great Depression, not by fleeing into cash and bonds but by buying into stocks as the market dropped. His motto during the crash was: "There's a better chance to make money now than ever before."
Don't lose this opportunity to arrange your portfolio to meet your future needs. Follow the five steps above, and you won't have to worry about what the stock market is doing ever again.
2008© Fern Alix-LaRocca CFP® All Rights Reserved
Interested in more tips to survive this [http://wholeheartedway.com/index.html]crisis? Get the [http://wholeheartedway.com/]Whole-Hearted-Way eNewsletter written by Fern Alix LaRocca, a fee-only Certified Financial Planner TM with over 24 years in the industry today.
Article Source: http://EzineArticles.com/?expert=Fern_Alix_LaRocca http://EzineArticles.com/?Surviving-a-Stock-Market-Crash---5-Tips-to-Show-You-How&id=1566884
Surviving a Stock Market Crash - 5 Tips to Show You How
By [http://ezinearticles.com/?expert=Fern_Alix_LaRocca]Fern Alix LaRocca
It is scary when the money you were counting on for retirement, education, or your home is rapidly declining in value. Don't panic though. Here are some 5 tips to help you survive:
1. People are living longer:
Males that reach the age of 65 nowadays will have a 49% chance of living to 86. Women will have a 49% chance of living to age 89. With that in mind, it's obvious that you will still need the help of equities (stocks and stock mutual funds) to help you grow your portfolio and keep ahead of taxes and inflation.
Don't abandon these investments.
2. Rebalance where necessary.
Take a look at your portfolio winners. If you had targeted say 20% in international and it is now 30% of your portfolio. Sell enough to bring it back down to 20% and use that cash to invest in another sector that you don't own. Remember that you don't have a realized loss until you sell. Take just enough of a loss to offset the gain that you took above, and then you will pay no tax on the transaction.
3. Diversify.
Don't have any winners? Then you weren't diversified enough to begin with. You should have had enough in each asset class (large-cap, mid-cap, small-cap, international, etc.) and each style (growth, value, blend, balanced, etc.) to create an investment plan to reach the return you need with the risk you are comfortable with, and in the time period that you targeted. Believe it or not, there are some mutual funds that have managed to keep their returns higher than the more than 23% loss of the S&P500 Index this year. There are a lot of free resources such as morningstar.com that will give you the data you need to diversify and feel better about your holdings.
4. Make decisions now.
Act now. Don't look for bottoms. You don't ever know where the bottom is but you do know that stocks are steadily getting cheaper and there are some fantastic buys out there. You may not have control over the market but you do have control over what you buy and what you sell. Don't wait.
5. Get a guaranteed income for life.
Along with positions of cash, bonds, and equities, a fixed annuity should play a part in a portfolio of someone close to working part-time or retiring altogether. An annuity is an insurance contract that in return for a lump sum of money gives you a steady fixed stream of income that is guaranteed for your life or the life of you and your spouse. For people who want to spread out their risk, this is an excellent addition to a portfolio. The downside is that you don't get any inflation protection since the payments remain the same. The upside is that you get an income stream guaranteed by the insurer so you don't have to worry about managing the money. Of course, you need to make sure the insurer is financially strong enough to be able to pay you throughout the term of the contract.
People like Floyd Odlum made millions during the Great Depression, not by fleeing into cash and bonds but by buying into stocks as the market dropped. His motto during the crash was: "There's a better chance to make money now than ever before."
Don't lose this opportunity to arrange your portfolio to meet your future needs. Follow the five steps above, and you won't have to worry about what the stock market is doing ever again.
2008© Fern Alix-LaRocca CFP® All Rights Reserved
Interested in more tips to survive this [http://wholeheartedway.com/index.html]crisis? Get the [http://wholeheartedway.com/]Whole-Hearted-Way eNewsletter written by Fern Alix LaRocca, a fee-only Certified Financial Planner TM with over 24 years in the industry today.
Article Source: http://EzineArticles.com/?expert=Fern_Alix_LaRocca http://EzineArticles.com/?Surviving-a-Stock-Market-Crash---5-Tips-to-Show-You-How&id=1566884
How Safe is Your Money? - Your Guide to Protection
My goodness what a rollercoaster it has been recently! It seems that not a day goes by without more gloom. A bank goes bust or is rescued, an insurance company is swallowed up by another or is nationalised. It is in times like these that people quite naturally get very worried and want to make sure that they are protected. Let's look at cash deposit savings.
How Safe is Your Money? - Your Guide to Protection
By [http://ezinearticles.com/?expert=Ray_Prince]Ray Prince
My goodness what a rollercoaster it has been recently!
It seems that not a day goes by without more gloom. A bank goes bust or is rescued, an insurance company is swallowed up by another or is nationalised.
It is in times like these that people quite naturally get very worried and want to make sure that they are protected.
Let's look at cash deposit savings.
What are the rules and what protection do you have?
Where should you put your money?
Are Offset Deposit Accounts in mortgages affected and what about Life Assurance Companies and other investments?
What are the rules on deposit accounts?
This area is covered by the Financial services Compensation Scheme (FSCS).
The basic cover for deposits is 100% of the first £50,000 (was £35,000 prior to 7th October 2008). This ceiling is per investor, per banking license holder. So a single joint deposit with a bank is covered for a maximum of £100,000#
However, some banking groups operate several different brands, but have only one banking license. The best example of this is HBOS, as they own Saga, AA, Birmingham Midshires, Intelligent Finance, Halifax and Bank of Scotland.
So any investor should limit their total deposits in these six institutions to £50,000.
Of course, this is further complicated by the proposed merger between Lloyds and HBOS, and it is unclear as yet how this will affect things.
Deposits in non-UK banks operating in the UK are generally covered up to £50,000, but not necessarily all through the FSCS. European Economic Area (EEA) banks can adopt a 'passport' approach, which means that the home country compensation scheme applies first with the FSCS providing a top up, if required.
However, two exceptions apply here.
They could choose to operate on the 'passport' basis only, leaving depositors with only the bank's home country compensation. The big name foreign players do not do this because of the bad publicity it would bring.
Also, the Irish Government increased its compensation scheme limit to €100,000 (about £79,500) on 20 September 2008. So banks like Anglo-Irish and Bank of Ireland offer UK investors a lot more protection than the FSCS. This affects the Post Office, as their accounts are operated by the Bank Of Ireland.
100% protection without any ceiling is available through National Savings & Investments and, for the time being, through Northern Rock.
Offset Mortgages
Many of our clients quite rightly use offset flexible loans as this can save them a lot of money over the years. However, what rules apply here?
There are two possibilities:
A rule called 'set-off' could come into play with the banks. This states that Insolvency Law rules that your net position is calculated - savings would be deducted from your debt.
But this law may not apply to Building Societies. The Building Societies Association have confirmed that the set-off rule would not automatically apply, although individual societies may have it written into their terms and conditions. Even then, this would depend on the administrators.
Life Assurance
For UK authorised life companies, it works like this - the FSCS covers 100% of the first £2,000 of value and 90% after this with no limit.
Offshore Life Companies
They rely on their home company scheme - if any exists. The Isle of Man's scheme is similar to the UK's, whilst Guernsey has no scheme, but insists on 90% of a life company's assets being held by an independent custodian.
UK Investment Bonds Invested in Cash Deposits
Neither the life company nor the investor can look for compensation from the FSCS if the deposit provider goes down, unless there is a
guarantee the investor will simply see the value of their bond fall.
On the other hand, if the life company fails, then the FSCS protection would apply. In such an instance the FSCS offers less protection than a direct deposit for sums of up to £38,667, but more cover for investments that are higher than this.
Investments
For FSA authorised investment business, the maximum compensation is 100% of the first £30,000 plus 90% of the next £20,000. This means a total of £48,000 in respect of investments worth £50,000 or more.
The important point to remember is that the FSCS comes into play when an institution fails, not when the investment itself fails.
However, if the failure of an investment leaves a bank or insurance company unable to meet any guarantees it has made, then protection rules do apply.
Rates
Don't forget to make sure you receive a competitive interest rate!
It is important to stress that whilst it is prudent to take all these factors into account, the interest rates you get on each account is crucial. These days you should be able to get in excess of 6% AER.
The Financial Tips Bottom Line
It is worth checking how you would be affected by these rules, and that you won't be affected if a bank fails.
ACTION POINT
For an overview and more detail on all the issues covered here, see - http://tinyurl.com/3ml6ar (note: the increase to £50,000 may not be covered here, depending on if the site has been updated).
Especially, guidance is given here on which brands are owned by who - spend a few minutes of your time to research these links. It could save you a lot of money!
Ray Prince is an Independent Financial Planner with Rutherford Wilkinson plc, and helps UK Resident Doctors and Dentists get the best deals on mortgages, protection and investments, as well as helping them achieve their financial objectives. Just visit http://www.medicaldentalfs.com to get your free retirement planning guide.
Rutherford Wilkinson plc is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Ray_Prince http://EzineArticles.com/?How-Safe-is-Your-Money?---Your-Guide-to-Protection&id=1571610
How Safe is Your Money? - Your Guide to Protection
By [http://ezinearticles.com/?expert=Ray_Prince]Ray Prince
My goodness what a rollercoaster it has been recently!
It seems that not a day goes by without more gloom. A bank goes bust or is rescued, an insurance company is swallowed up by another or is nationalised.
It is in times like these that people quite naturally get very worried and want to make sure that they are protected.
Let's look at cash deposit savings.
What are the rules and what protection do you have?
Where should you put your money?
Are Offset Deposit Accounts in mortgages affected and what about Life Assurance Companies and other investments?
What are the rules on deposit accounts?
This area is covered by the Financial services Compensation Scheme (FSCS).
The basic cover for deposits is 100% of the first £50,000 (was £35,000 prior to 7th October 2008). This ceiling is per investor, per banking license holder. So a single joint deposit with a bank is covered for a maximum of £100,000#
However, some banking groups operate several different brands, but have only one banking license. The best example of this is HBOS, as they own Saga, AA, Birmingham Midshires, Intelligent Finance, Halifax and Bank of Scotland.
So any investor should limit their total deposits in these six institutions to £50,000.
Of course, this is further complicated by the proposed merger between Lloyds and HBOS, and it is unclear as yet how this will affect things.
Deposits in non-UK banks operating in the UK are generally covered up to £50,000, but not necessarily all through the FSCS. European Economic Area (EEA) banks can adopt a 'passport' approach, which means that the home country compensation scheme applies first with the FSCS providing a top up, if required.
However, two exceptions apply here.
They could choose to operate on the 'passport' basis only, leaving depositors with only the bank's home country compensation. The big name foreign players do not do this because of the bad publicity it would bring.
Also, the Irish Government increased its compensation scheme limit to €100,000 (about £79,500) on 20 September 2008. So banks like Anglo-Irish and Bank of Ireland offer UK investors a lot more protection than the FSCS. This affects the Post Office, as their accounts are operated by the Bank Of Ireland.
100% protection without any ceiling is available through National Savings & Investments and, for the time being, through Northern Rock.
Offset Mortgages
Many of our clients quite rightly use offset flexible loans as this can save them a lot of money over the years. However, what rules apply here?
There are two possibilities:
A rule called 'set-off' could come into play with the banks. This states that Insolvency Law rules that your net position is calculated - savings would be deducted from your debt.
But this law may not apply to Building Societies. The Building Societies Association have confirmed that the set-off rule would not automatically apply, although individual societies may have it written into their terms and conditions. Even then, this would depend on the administrators.
Life Assurance
For UK authorised life companies, it works like this - the FSCS covers 100% of the first £2,000 of value and 90% after this with no limit.
Offshore Life Companies
They rely on their home company scheme - if any exists. The Isle of Man's scheme is similar to the UK's, whilst Guernsey has no scheme, but insists on 90% of a life company's assets being held by an independent custodian.
UK Investment Bonds Invested in Cash Deposits
Neither the life company nor the investor can look for compensation from the FSCS if the deposit provider goes down, unless there is a
guarantee the investor will simply see the value of their bond fall.
On the other hand, if the life company fails, then the FSCS protection would apply. In such an instance the FSCS offers less protection than a direct deposit for sums of up to £38,667, but more cover for investments that are higher than this.
Investments
For FSA authorised investment business, the maximum compensation is 100% of the first £30,000 plus 90% of the next £20,000. This means a total of £48,000 in respect of investments worth £50,000 or more.
The important point to remember is that the FSCS comes into play when an institution fails, not when the investment itself fails.
However, if the failure of an investment leaves a bank or insurance company unable to meet any guarantees it has made, then protection rules do apply.
Rates
Don't forget to make sure you receive a competitive interest rate!
It is important to stress that whilst it is prudent to take all these factors into account, the interest rates you get on each account is crucial. These days you should be able to get in excess of 6% AER.
The Financial Tips Bottom Line
It is worth checking how you would be affected by these rules, and that you won't be affected if a bank fails.
ACTION POINT
For an overview and more detail on all the issues covered here, see - http://tinyurl.com/3ml6ar (note: the increase to £50,000 may not be covered here, depending on if the site has been updated).
Especially, guidance is given here on which brands are owned by who - spend a few minutes of your time to research these links. It could save you a lot of money!
Ray Prince is an Independent Financial Planner with Rutherford Wilkinson plc, and helps UK Resident Doctors and Dentists get the best deals on mortgages, protection and investments, as well as helping them achieve their financial objectives. Just visit http://www.medicaldentalfs.com to get your free retirement planning guide.
Rutherford Wilkinson plc is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Ray_Prince http://EzineArticles.com/?How-Safe-is-Your-Money?---Your-Guide-to-Protection&id=1571610
Saturday, October 11, 2008
The Credit Crisis - What Has it Taught Us?
The credit crisis seems to reach new levels every day. There are more foreclosures, house prices drop even lower and we can't get loans for new purchases. The crisis has come about because numerous mistakes have been made. The government didn't set up necessary legislation, financial institutions were greedy and borrowers didn't consider whether they could afford the debts they borrowed. So, when we look back, what can we as individuals learn for the future?
The Credit Crisis - What Has it Taught Us?
By [http://ezinearticles.com/?expert=Brian_Ullitz]Brian Ullitz
The credit crisis seems to reach new levels every day. There are more foreclosures, house prices drop even lower and we can't get loans for new purchases. The crisis has come about because numerous mistakes have been made. The government didn't set up necessary legislation, financial institutions were greedy and borrowers didn't consider whether they could afford the debts they borrowed. So, when we look back, what can we as individuals learn for the future?
We need to have order in our own house first. I am a big believer in personal responsibility. We can complain all we want about the incompetence of the politicians and the greed of Wall Street. But first we need to take a look at our own behavior and see if we have acted as we should have. I have made this list of some major lessons we as individuals should consider.
1. Know your mortgage. Many people have not been considering whether they could afford their mortgage to pay for their house. I think a lot of people were persuaded into a mortgage they could neither pay nor understand. We need to know what we are buying, especially if we are buying something as expensive as a house. Just because the nice man in the bank wants to lend us the money, doesn't mean we can afford it. I recommend looking at a plain mortgage. Can you afford to pay a 20-year loan at a fixed interest rate and repayments on the principal right away? If so, you can afford to buy the house. If not, it doesn't matter how fancy a loan the financial industry can come up with, you basically still can't afford it.
2. Live within your means. Both society as a whole and many people are not living within their means. If you keep getting credit, you will undermine your future financial position. Of course, you can get to a temporary tight spot or you can need loans to invest in a house. But using your credit card to buy everyday goods is not very advisable.
3. Be critical of advice. Taking advice from the people who want to lend us money, or for that matter sell us anything else, creates a potential conflict of interest. They are interested in selling as much as possible and you are interested in paying as little as possible. So be very critical of their advice and verify their claims from a second source that has no vested interests. If you don't know anything about it, I think it is wise to consult an independent adviser before signing a house deal. It might cost a little, but it can save you a lot down the road.
4. Prepare for the bad times. The economy moves in cycles. Some years are good; some are not so good. Yes, this is even worse than the normal downturn, but we will make it through nevertheless. What you have to remember is to prepare yourself for the downturns, during the good times. This means making a cash reserve, investing in your retirement and generally living within your means.
5. Involve yourself in society. Although the market is generally taking care of many things efficiently, we can't let it work without any supervision. Some people's greed can destroy it for everybody if we don't keep an eye on them. There needs to be some legislation. History shows us every society needs some common playing rules to make it work in everybody's best interest. So be involved in making sure both political and business leaders act in the common best interest.
Of course, many more lessons can be drawn, depending on your personal conditions. There are also many more lessons for both Washington and Wall Street. But I believe these are the most important ones for us as individuals.
Brian Ullitz has written the e-book "Enjoy Healthy Personal Finances". He is educated at Copenhagen Business School in Denmark and has worked with finances since 1999. He is now the driving force behind the personal finance site http://finance4everyone.org/
He enjoys talking about finances and loves to help people improve their financial knowledge. It is his firm belief that everyone can experience prosperity. This includes you too. All it takes is the knowledge of how you can do it better and action to implement this knowledge in your life.
Article Source: http://EzineArticles.com/?expert=Brian_Ullitz http://EzineArticles.com/?The-Credit-Crisis---What-Has-it-Taught-Us?&id=1562376
The Credit Crisis - What Has it Taught Us?
By [http://ezinearticles.com/?expert=Brian_Ullitz]Brian Ullitz
The credit crisis seems to reach new levels every day. There are more foreclosures, house prices drop even lower and we can't get loans for new purchases. The crisis has come about because numerous mistakes have been made. The government didn't set up necessary legislation, financial institutions were greedy and borrowers didn't consider whether they could afford the debts they borrowed. So, when we look back, what can we as individuals learn for the future?
We need to have order in our own house first. I am a big believer in personal responsibility. We can complain all we want about the incompetence of the politicians and the greed of Wall Street. But first we need to take a look at our own behavior and see if we have acted as we should have. I have made this list of some major lessons we as individuals should consider.
1. Know your mortgage. Many people have not been considering whether they could afford their mortgage to pay for their house. I think a lot of people were persuaded into a mortgage they could neither pay nor understand. We need to know what we are buying, especially if we are buying something as expensive as a house. Just because the nice man in the bank wants to lend us the money, doesn't mean we can afford it. I recommend looking at a plain mortgage. Can you afford to pay a 20-year loan at a fixed interest rate and repayments on the principal right away? If so, you can afford to buy the house. If not, it doesn't matter how fancy a loan the financial industry can come up with, you basically still can't afford it.
2. Live within your means. Both society as a whole and many people are not living within their means. If you keep getting credit, you will undermine your future financial position. Of course, you can get to a temporary tight spot or you can need loans to invest in a house. But using your credit card to buy everyday goods is not very advisable.
3. Be critical of advice. Taking advice from the people who want to lend us money, or for that matter sell us anything else, creates a potential conflict of interest. They are interested in selling as much as possible and you are interested in paying as little as possible. So be very critical of their advice and verify their claims from a second source that has no vested interests. If you don't know anything about it, I think it is wise to consult an independent adviser before signing a house deal. It might cost a little, but it can save you a lot down the road.
4. Prepare for the bad times. The economy moves in cycles. Some years are good; some are not so good. Yes, this is even worse than the normal downturn, but we will make it through nevertheless. What you have to remember is to prepare yourself for the downturns, during the good times. This means making a cash reserve, investing in your retirement and generally living within your means.
5. Involve yourself in society. Although the market is generally taking care of many things efficiently, we can't let it work without any supervision. Some people's greed can destroy it for everybody if we don't keep an eye on them. There needs to be some legislation. History shows us every society needs some common playing rules to make it work in everybody's best interest. So be involved in making sure both political and business leaders act in the common best interest.
Of course, many more lessons can be drawn, depending on your personal conditions. There are also many more lessons for both Washington and Wall Street. But I believe these are the most important ones for us as individuals.
Brian Ullitz has written the e-book "Enjoy Healthy Personal Finances". He is educated at Copenhagen Business School in Denmark and has worked with finances since 1999. He is now the driving force behind the personal finance site http://finance4everyone.org/
He enjoys talking about finances and loves to help people improve their financial knowledge. It is his firm belief that everyone can experience prosperity. This includes you too. All it takes is the knowledge of how you can do it better and action to implement this knowledge in your life.
Article Source: http://EzineArticles.com/?expert=Brian_Ullitz http://EzineArticles.com/?The-Credit-Crisis---What-Has-it-Taught-Us?&id=1562376
Five Simple Ways to Spend Less
Cutting your spending isn't as complicated as it seems. Making smart choices day-to-day can help you save big bucks over time.
Five Simple Ways to Spend Less
By [http://ezinearticles.com/?expert=Ki_Gray]Ki Gray
Budgeting and living within your means is often perceived as a difficult, daunting task. In reality, there are plenty of simple ways to trim your budget all they require is a little time and effort.
1. Pack your lunch.
Instead of spending upwards of $40 - $50 a week eating out, take your lunch with you to work. Even if you go out for relatively cheap meals, the total cost (plus tax and tip) adds up quickly. A great way to do this is to cook double or triple the amount you'll need for dinner the night before, and set lunch portions aside ahead of time.
Another way you can simplify the entire process is to cook a large amount of food over the weekend say 8-10 chicken breasts, a big lasagna or pasta dish, for example and portion it out for lunches and dinners throughout the week. If you're pressed for time and don't have anything prepared, head to your local supermarket and pick up a few microwavable meals and other healthy items like single-serving-size frozen vegetables or fruit packs. This option is a bit pricier than cooking from scratch, but still much cheaper than eating out every day.
2. Hand-wash your car.
Skip the $5 - $10 drive through car wash and soap up your car yourself. It may take a bit longer than the drive through option, or it may not, depending on how far you have to drive to get to the car wash in the first place. Regardless, washing your car yourself can save you $30-plus per month. If that doesn't sound like much, think of it this way: it adds up to about $150 per year.
3. Take a walk.
Next time you need to run to the corner store, to drop off your child at soccer practice a few blocks away, or to pick up a couple of items at your neighborhood grocer, skip the car and make the short trip on foot. You'll conserve gasoline which is good for both your budget and the environment and you'll be doing something healthy for yourself. It's a win-win situation.
4. Enjoy the outdoors.
Next time you're looking for a fun family activity, skip the movie theater or other venue in favor of the great outdoors. Most cities and towns have a wealth of public parks, complete with jungle gym equipment, swings, shade trees and sunshine everything you need for a fun afternoon of quality time with your family. And it's free!
5. Check out consignment.
Looking for a new top, bag, or shoes? Head to your local consignment shop instead of the mall odds are you'll find great deals on quality items (though you may have to do a little digging). Many cities have upscale consignment shops, too, offering designer items at a steal of a price. And next time you clean out your closet, make a pile of your best give-away items and take them to the consignment shop instead of Goodwill. You may just pad your wallet with some extra cash. If the items don't sell, you can opt to pick them up after a set period of time (usually about three months) or have them donated for you.
Escapeso Real Estate operates in Austin Texas. They help people interested in the [http://www.escapesomewhere.com]Austin real estate market. Their site has a free mortgage calculator along with updated stats on the Austin real estate market and a search of the [http://www.escapesomewhere.com/realestate_searchthemls.html]Austin MLS.
Article Source: http://EzineArticles.com/?expert=Ki_Gray http://EzineArticles.com/?Five-Simple-Ways-to-Spend-Less&id=1568125
Five Simple Ways to Spend Less
By [http://ezinearticles.com/?expert=Ki_Gray]Ki Gray
Budgeting and living within your means is often perceived as a difficult, daunting task. In reality, there are plenty of simple ways to trim your budget all they require is a little time and effort.
1. Pack your lunch.
Instead of spending upwards of $40 - $50 a week eating out, take your lunch with you to work. Even if you go out for relatively cheap meals, the total cost (plus tax and tip) adds up quickly. A great way to do this is to cook double or triple the amount you'll need for dinner the night before, and set lunch portions aside ahead of time.
Another way you can simplify the entire process is to cook a large amount of food over the weekend say 8-10 chicken breasts, a big lasagna or pasta dish, for example and portion it out for lunches and dinners throughout the week. If you're pressed for time and don't have anything prepared, head to your local supermarket and pick up a few microwavable meals and other healthy items like single-serving-size frozen vegetables or fruit packs. This option is a bit pricier than cooking from scratch, but still much cheaper than eating out every day.
2. Hand-wash your car.
Skip the $5 - $10 drive through car wash and soap up your car yourself. It may take a bit longer than the drive through option, or it may not, depending on how far you have to drive to get to the car wash in the first place. Regardless, washing your car yourself can save you $30-plus per month. If that doesn't sound like much, think of it this way: it adds up to about $150 per year.
3. Take a walk.
Next time you need to run to the corner store, to drop off your child at soccer practice a few blocks away, or to pick up a couple of items at your neighborhood grocer, skip the car and make the short trip on foot. You'll conserve gasoline which is good for both your budget and the environment and you'll be doing something healthy for yourself. It's a win-win situation.
4. Enjoy the outdoors.
Next time you're looking for a fun family activity, skip the movie theater or other venue in favor of the great outdoors. Most cities and towns have a wealth of public parks, complete with jungle gym equipment, swings, shade trees and sunshine everything you need for a fun afternoon of quality time with your family. And it's free!
5. Check out consignment.
Looking for a new top, bag, or shoes? Head to your local consignment shop instead of the mall odds are you'll find great deals on quality items (though you may have to do a little digging). Many cities have upscale consignment shops, too, offering designer items at a steal of a price. And next time you clean out your closet, make a pile of your best give-away items and take them to the consignment shop instead of Goodwill. You may just pad your wallet with some extra cash. If the items don't sell, you can opt to pick them up after a set period of time (usually about three months) or have them donated for you.
Escapeso Real Estate operates in Austin Texas. They help people interested in the [http://www.escapesomewhere.com]Austin real estate market. Their site has a free mortgage calculator along with updated stats on the Austin real estate market and a search of the [http://www.escapesomewhere.com/realestate_searchthemls.html]Austin MLS.
Article Source: http://EzineArticles.com/?expert=Ki_Gray http://EzineArticles.com/?Five-Simple-Ways-to-Spend-Less&id=1568125
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