Every Day Ways to Save Money for an Emergency

When you think about it, there are a good many ways to save those precious pennies. Some ways will require some sacrifice, while others will require little before thought.

The point is to be forever mindful of saving those extra pennies and before you know it, you will have saved up a tidy sum.

·       Spend less money than you earn each week.

·       Seek out a higher paying job.

·       Keep your job skills sharp and up-to-date so that when a new opportunity comes up, you will be on your toes and first in line.

·       Adjust your lifestyle to always spend a bit less.

·       Create a firm financial budget to encourage saving.

·       If you must use credit cards/cut up those you can do without.

·       If you must use credit cards, pay them all down in full each month.

·       If you have credit card debt at high rates, consolidate at once.

·       Figure out a way to lower your student loan payments.

·       Just say NO to spending money whenever possible.

·       Lower your expenses, one by one.

·       Stop purchasing items that you can do without.

·       Forego purchasing non-essential items.

·       Refinance your mortgage or debt at a much lower rate.

·       Refinance your car loan at a much lower interest rate.

·       Find cheaper insurance rates/then switch over.

·       Use coupons to shop with.  Don’t purchase without a discount coupon.

·       Wait for things to first go on sale before buying. Take advantage of catalog saving certificates.

·       Don’t buy an item just because it is on sale.

·       Buy generic or non-name brand merchandise as much as possible.

·       Wait for prices to fall to a discounted rate before buying (applies especially to electronics items).

·       Reward yourself for saving money.  Enjoy as your debt shrinks and your investments grow.

·       Drive used cars or leases rather than brand new cars.

·       Reduce your auto insurance.

·       Don’t eat out as much as you’d like to.

·       If you do eat out, buy gift certificates for half price meals.

·       Buy only discount magazines.

·       Do more stay in activities at home.

·       Invest the money you save to earn even more.

·       Create a plan to save $200 each month (as much as you can manage.)  Never miss the monthly savings payment to yourself and try to find ways to increase it.

·       Don’t spend money just because you have it.

·       Look into getting a better quality education.

·       Stay very busy – you will have less time to spend money.

·       Find an interesting hobby to occupy your time and stop you from spending money.

·       Find a hobby that you can turn into earnings.

·       Stop smoking and bank the savings.

·       Go on a sensible diet and lose weight. You will save money on food, look and feel better, and your long-term healthcare costs should fall dramatically.

·       Look carefully at how you spend and save your money.

·       Learn how to manage your finances by reading financial publications.

·       Increase the amount of money you earn through a second job, promotion, new job, investments, etc.

·       Don’t try to compete with your friends and neighbors. Be satisfied with what you have.

·       Don’t compare yourself to your friends and neighbors. Be happy being you.

·       Sell your car and take the bus to work if you can.

·       Contribute the maximum each year to your 401K or to an IRA.

·       Buy Dental Insurance before you need it.

·       Buy Health Insurance before you need it.

·       Paying down your debt is also a way to save money (it saves you from a debt payment and brings you closer to having money to invest).

·       Switch to lower your telephone bill.

·       Lower your cable bill by deleting pay channels or switch to satellite.

·       Earn extra money by completing short surveys online.

·       Practice restraint at all times.

·       Be patient when bargain shopping.

·       Start saving money today!

·       Don’t give up -- put just $5.00 aside, today!

Plan Your Future without debt

Getting too deep in debt before is a very bad thing so learning how to plan for your future retirement, right now by understanding how not to get too deeply in debt is your key to a much more successful financial future. 

Understanding how severely debt can damage your retirement is very important because it is real, it is something that can happen when you least expect it, there is no doubt about that people. Those credit card payments that are draining you each and every month are going to be the death of you. Not literally but financially, it is not looking like a very bright or frugal future at all. 

Staying away from credit cards, or actually, staying away from TOO many credit cards, is and will be your wisest decision that you have ever made because your financial future will be much brighter because of it and who knows, you might even be able to save yourself some money each month because of not having an overabundance of credit card payments being mailed out each and every month, which would be absolutely wonderful!

Debt from credit cards, mortgages, medical bills and many other things, is all of the reasons why too many people are unable to go one single day without being stressed out about their finances. Debt relief from paying off all of those bills, or atleast some of them, will provide you with a much more comfortable feeling each and everyday, because of not having to worry about whether or not you are going to be able to pay your monthly bills. 

Finding help on the internet is another good source of getting the financial advice and information regarding all sorts of debt and why it is so very important to not let your debt ratio get completely out of hand. Letting your monthly payments get out of control is a very bad mistake that far too many people make and if you can learn how not to get in too much debt now, it will definitely help you have a happier financial future. 

Learning, no matter how it is you are doing so, is the best way to retain the type of financial knowledge that is needed to guide you in the appropriate path, so that you do not end up in debt trouble. There are plenty of financial and debt advisors out there that can provide you with the appropriate information, hopefully preventing debt crisis from occurring with you. 

Do not let debt control you, you learn how to control how much debt you allow yourself to have. 

Find Out How To Prevent Debt Flooding In Your Home

The holiday season is coming up fast, and many are planning know to avoid running up a huge debt at Christmas. The average adult spent $830 on Xmas last year, that is a lot of money. If we want to control debt, we have to budget and plan ahead. Debt problems exist all around the map and most families find themselves struggling over one thing or another at some point in time, it is a sad but very true problem going on in the world. Debt can be and is very bothersome, so for anyone out there who is finding a hard time getting out of the debt that you are in, please do continue reading this entire article, hopefully it will be more than helpful to you all.

Anytime that somebody offers a word of advice, you should always take the time out to listen up because you might just find that it is very helpful advice. There are many professionals available to anyone out there needing any sort of debt assistance, and by choosing to go with a professional you can be assured that you are going to be all set up and placed on the correct path for a successful financial future.

Debt problems will send you in a spiral of frustration, anxiety and even depression at times, so knowing what not to do with your money is really very important. Debt consolidation is always an option to help anyone who is in financial assistance and if you find yourself drowning in debt then perhaps you should definitely be considering some different options that could help to straighten you all out.  

Consolidating your bills each month will make it possible for you to save yourself some money every chance that you get and by doing so you are always going to have a little bit of extra money in the bank each month that comes along. Your extra money can be  put into some sort of stocks or cd's, perhaps you could start seeing that you do know how to save more money each month, it might even be quite shocking to you at first.

Debt flooding within your home can be very exhausting for anyone responsible for trying to correct the current situation within the home. It can be extremely tiring and overwhelming just trying to find any sort of answer that could potentially help to get you through this horrifying time in your life. It is real important for you to pick up some helpful books regarding debt because if you do not do something now about this problem, things are going to become very bothersome and even more of a headache than ever before.

Your life does not have to be this way, making a few more intelligent decisions when it comes to your money each month, will truly provide you with the type of financial stability that you are looking for and have been looking for now for quite some time and have not yet been successful with any type of action. Get a friend that you can trust that might know a bit more about debt flooding and all of the problems that can come from having to deal with it. Good luck!

How about a cup of coffee?

How about a daily coffee?  Thanks to Derwyn for these stats:

Here are some sobering statistics.

 One Latte per day at $2.50 over 25 years = $47,868.00

 One lunch per day at $5.00 over 25 years =$97,737.00

 One dinner per week at $50.00 over 25 years = $191,473.00

Anyone up for a tip count over those years?

I tip at 20% for good service not for coffee so my bill would be a lot higher, good way to think about budgeting is to put expenses in perspective (over time)

How to save money if your not earning a lot

When he retired a close friend of mine decided to take the following approach when he has to spend money. He looks at the cost of anything he buys on a yearly basis. So rather than  thinking about $30.00  a month on Telephone service he sees it as spending $240.00 a year on telephone service. He takes that approach to all items he buys on a reoccurring basis. It helps him put his spending in perspective and he has cut out a great many things over the years. 

Try a different approach to analyzing your expenditures when you have to make some decisions.

My friend shops around so he does not have to pay convenience fees, even a couple of bucks saved by buying shampoo at the dollar store rather than from the 7-11 he sees as  yearly savings. He also uses his backyard and his basement to dry his clothes, and uses his dryer as little as possible. 

He and his wife regularly go out for meals, but before he retired they would go out to dinner, now they go out for breakfast or lunch, not supper and they usually share a meal. Saves money while still allowing the pleasure of going out with the one you love.

My friend also does not do any impulse shopping. Some studies have shown that impulse spending can add up to about $4,000 a year.  Keep track of your impulse spending to help you keep on track.

Other ideas:

• Don't let any water get wasted down the drain.  If running water for washing dishes, collect it in a jug for water plants or throw into the washer.
• Garden - Even in a restricted space you can grow some veggies, I planted 4 planters last summer and grew 4 tomato plants and had tomato's overflowing. 
• Drive the speed limit on the highway instead of ten or 20 km/h faster, this will reduce your fuel consumption by up to 20%
• Cut empty calories (store-bought desserts, snack foods, etc.) from your diet will save you money and make you healthier
• Stop drinking too - the average Canadian household spends roughly $1000 a year on alcohol
• Cut back or quit  smoking a package a day is about $3200 a year
• If you own a house learn to do minor repairs by yourself
• Get rid of your credit cards. Pay cash when you can to help you save money
• Trade in the expensive car and buy a cheaper one cash
• Rent out the extra room in the basement
• Ride share if  you can
• Have a garage sale
• If you have kids, buy their summer clothes next year at the end of summer and winter next year clothes at the end of winter
• Bank at a Credit Union
• Sign up for every free customer rewards program you can
• Whenever you’re considering making an unnecessary purchase, wait thirty days and then ask yourself if you still want that item
• Make a list and stick to it when shopping Don’t put anything in the cart that’s not on the list and you will save money
• The next time you make a casserole, make four batches of it and put the other three in the freezer. Then, the next time you need a quick meal for the family, grab one of those batches and just heat it up
• If you drive clean your air filter. This can improve your gas mileage by up to 7%, saving you more than $100 for every 10,000 miles you drive in an average vehicle
• Do a “maintenance run” on your appliances.Check them to make sure there isn’t any dust clogging them and that they’re fairly clean.
• Instead of going out to eat at work, take your own lunch, when I was working I did this everyday and it saved me tons of money
• Whenever you pick up an item in order to add it to your cart or to take it to the checkout, stop for ten seconds and ask yourself why you’re buying it and whether you actually need it or not. If you can’t find a good answer, put the item back.
• This works for every holiday. Wait until about two days after a holiday, then go out shopping for items you need that are themed for that day. Get a Mother’s Day card for next year the day after Mother’s Day. Get Easter egg decorating kits the day after Easter. Get wrapping paper and cards and such the day after Christmas
• Reading is one of the cheapest – and most beneficial – hobbies around. Most towns have a library available to the public – just go there and check out some books that interest you.
• We buy items we use a lot of in bulk, particularly items that don’t perish – trash bags, laundry detergent, diapers, and so on are purchased in the largest amounts possible. This cuts down on their cost per usage by quite a bit and, over the long haul, begins to add up to some serious money.
• Everyone needs a plan to help them get out of debt, so sit down and plot out what debts you’re going to pay off and in what order. Simply having a plan goes a long way towards bringing that plan into action, and paying off debts early is one of the surest ways to put money in your pocket over the long run

A budget is like a diet, we need one at this time of year

One of the resolutions many make at this time of year is to get control of our money.  First step is to write it down and that means making a budget. The biggest issue many of us face is once we have made a budget how do we make it work for our family and us.

As we move ahead with our plan, life gets in the way: we forget to document a few expenses, we overspend, and pretty soon we are back to square one – frustrated with and wondering what went wrong.

A budget is a lot like a diet. You can have the best intentions to follow it and stick it out, but it only works if you actually do it and have support of others when you are doing it, that is why Jenny Craig and other diet services work better than going it alone.

Old  view of budgets

• I’m going to learn some unpleasant news, so I should not look at it
• I’m going to have to spend one entire weekend a month staring at spreadsheets and getting frustrated like my parents always did
• There are going to be a hundred categories to track
• I have to know where every cent is going
• Since it’s so hard, I need it all super-automated so I have some hope of keeping track of it

The truth about budgets

• The point is to help me know where my money is going in general and make sure I’m not spending beyond my means
• I do need a spreadsheet with a bunch of categories
• I need to look at my budget frequently for it to help me adjust my spending habits, so automating it is out of the question

To create an effective budget go online and do a Google search for free budget spreadsheets, or go to Google Documents Template Gallery and do a search for “Budget” find one that suits your family and download it.The templates are easy to read, simple to follow, and as uncomplicated as possible.

While your budget should be simple, it should be inclusive. Be sure to have categories for not only your income and regular expenses (mortgage, rent, car payment, monthly bills, etc.) but also your irregular expenses such as gifts, holiday spending, and medical. Every item of your income should fit into a category – from bills, to daily expenses, and beyond. If there’s any income left over after all of your expenses put that money into your savings category, which can be sub categorized. For example, I have a savings category set aside just for my Golf holiday and another for Taxes and one for Travel so that I am saving all year long.

A key point is that your Budget will change – often by the month! Maybe you have started a new job, moved to a new home, or paid off a small debt – your expenses and incomes may be constantly changing and so your budget should be flexible. So adapt your budget each month to reflect the changes and shift your spending accordingly. No family has a budget that stays static every single month, so do not expect yours to. Review your budget, if not once a month, every two months so you can update it to reflect your current circumstances.

Define Your Goals

What is your family hoping to save for? Perhaps you dream of buying a house, taking your family on an overseas adventure, helping your kids graduate from university debt-free, or maybe you want to pay off that credit card debt! If you write out or visualize, or talk about your goals, you’ll find it much easier to muster the discipline to make it happen.

A budget is not yours alone, it belongs to the entire family and the family that plans together, saves together. Find a time to sit down with your family to go over each aspect of your budget, from creation and implementation. Let everyone get involved! You cannot expect anyone to follow a budget they do not understand, if you’re all on the same page when it comes to spending and saving, you’re already one step closer to your goals!

There is no sense in creating a budget if no one is going to track his or her spending! Making sure that the budget is accessible to your family (you can share a document via Google Drive or in Drop-box very easily!) means that you can update it anytime and keep an eye on where you need to make changes.

If you do not want to put the document online then keep pages in a budget binder at home that you can add to as you perfect your budgeting strategy.

Like all plans your budget may not work out the way you’d hoped. Give it time. You might find you have been unrealistic about how much you spend eating at restaurants, or entertainment. Your first few months are your adjustment phase and you can rest easy knowing that it’s perfectly fine to do a lot of budget tweaking during this time.

This is a great opportunity to trim the fat from your budgeting. For instance, if your family is eating out too much, make your budget smaller in this area and let your budget force you to cook meals together at home. Dig through your spending habits and find the places where you can trim away needless spending.

Talk to your family about the things you can all give up in order to save your hard-earned money. Try library memberships instead of magazine subscriptions, walking instead of driving, or hosting a clothing swap instead of buying brand new clothes!

There will be issues and problems  as you work on your family budget, but your ultimate goal here is to never give up. Money and budgeting does not have to be such a taboo topic, so talk with neighbours or friends about how they make their family budgets work! You may just be surprised at what they tell you. Get help, help each other, and work together to reach your goals. You can do it!

Is the debt advice you get helpful for you.

Make Sure That The Debt Advice You Are Getting Is The Most Helpful For You

Debt mistakes are made constantly and create many severe problems for families all around, no matter who you are or where you came from. Nobody is too good to get themselves into trouble, whenever it comes to an overload of debt problems. So, be aware that debt pile up can happen to you if you are not always very cautious and careful about how you spend your money and how much money you are spending, it can all add up and turn out to be a major headache down the road for you. 

Getting debt relief as early as possible is very important because if you let it consistently grow into a higher mountain of debt, then all you are really doing is destroying your chances of having any sort of stable financial future and I am quite certain that none of you really want that, right? Debt can bring you down to a low level that you never thought to be possible, before now. As an adult it is really important that you understand how debt can put such a big ugly damper on your future and figuring out what you can do to alleviate any old debt early on is really the key to a successful and much less stressful future. 

Your debt problems can cause you health problems, as well as marital problems too. Too many relationships fail all because debt piled up so severely that there was a constant strain, stress or struggle going on throughout the duration of the marriage or whatever it was. This is a problem that you have all heard about, I am quite sure of, at least one time or another. Do you want to be the next person in a relationship having to go through something so unnecessary? No, I do not think you do and I know you can do better than what you have been doing, so prove it to yourself, fix your finance condition immediately. 

Debt advice is very helpful and very important for anyone going through these types of struggles. However, with that said, it is also very, very crucial that the debt advice you are currently receiving is most helpful and accurate. If you are getting inaccurate debt advice then you could definitely end up in much worse financial shape than you are currently in, which is not something that any of you ever want for yourself, right. 

Knowing that you are seeking the most helpful type of debt advice is important, which is why it is up to you to get online and do some of your own research or search through other types of sources, where you will be able to find the advice that is going to be most beneficial to you and your family, otherwise you could just be wasting your precious time and time is something that is precious to most of us, so I know you do not want to waste yours. 

Impulse spending is taking its toll

 Interesting reading with some ideas that may surprise you. We overspend, and make impulse buys that hurt our financial independence. If we know what we overspend on we can, I believe take steps to reign in our impulse spending and get control of our personal finances.

According to a BMO report released today, impulse spending is taking its toll on Canadian household balance sheets. The BMO Psychology of Spending report is the first in a series from BMO that will examine personal finance and investing behaviours among Canadians and the resulting effects.

The inaugural report on the spending habits of Canadians found the majority (59 per cent) make impulse purchases, with half (52 per cent) regretting the purchases after the fact, and 43 per cent sometimes spending more in a month than they earn.

The report, conducted by Pollara, also revealed:

• The majority of Canadians at least sometimes shop to cheer themselves up and buy something they may not need because it's on sale (60 per cent and 55 per cent respectively), and 42 per cent buy items they never use.
• On average, Canadians spend $310 a month on items they want but do not need, and believe they could save over two-thirds of this amount if they made an effort to limit their spending.
• The most common impulsive purchases made by Canadians over the past year are clothing (57 per cent), dining out (52 per cent), shoes (39 per cent), books/magazines (38 per cent), and music/movies (31 per cent).
• Additionally, one-in-five Canadians (19 per cent) have purchased consumer technology items on impulse in the past year.

"Financial anxiety is commonly triggered by larger one-time expenses, but spending on a daily basis can be the most disruptive when it comes to keeping your financial house in order over the long term," said Lily Capriotti, Vice President, BMO Bank of Montreal. "In most cases, impulse spending is an emotional transaction. Setting parameters and tracking your daily spending can help curb behaviours that can negatively affect the larger picture."

Ms. Capriotti noted there are a few practices Canadians can put in place to help track and control impulse spending, including setting aside savings on a regular basis, putting off impulse purchases for an hour, or using online tools to track daily spending and set limits. There are online personal financial management tool that enable you to set and track spending limits and savings goals.

"The data shows Canadians recognize they have the opportunity to save hundreds of dollars per month and thousands per year by cutting back on non-essential items," said Ms. Capriotti. "However, the report shows only one-in-five review non-essential purchases at the end of each month, which implies some may be avoiding the reality of how much of their money is being put towards things they do not need."

Ms. Capriotti added that leveraging a TFSA or a high-interest savings account, can help Canadians maximize these savings.

According to BMO Economics, Canadian household debt excluding mortgages has doubled in the past decade and consistently outrun disposable income, with the debt-to-income ratio rising from 42 per cent in early 2002 to a record high 153 per cent earlier this year.

The Consequences of Impulse Spending

• According to the report, one-third (31 per cent) of Canadians have had to borrow money or take out a loan to pay for non-essential items, with 23 per cent unable to buy something they needed because of their spending on items they wanted.
• These habits are more common among younger Canadians. One-in-three (33 per cent) of those under 30 have been unable to afford something they needed because of spending on 'wants'.
• Even high-income earners have felt the consequences of over-spending on non-essentials - 19 per cent of those in households earning at least $100,000 a year have been unable to afford something they needed because of non-essential purchases.

Demographically:

• On average, men spend twice as much as women on 'wants' ($414 vs. $207), and stand to save more by cutting back ($276 vs. $145).
• Top 5 Impulsive Purchases for Men: dining out (53 per cent), clothing (47 per cent), books/magazines (32 per cent), shoes (29 per cent), software/apps (26 per cent).
• Top 5 Impulsive Purchases for Women: clothing (66 per cent), dining out (50 per cent), shoes (48 per cent), books/magazines (44 per cent), makeup (36 per cent).

Spending Money You Don’t Have

The survey also found that 31 per cent of Canadians had to borrow money to pay for their impulse buys and 23 per cent said they were unable to get something they truly needed because of overspending on wants.

Zap Impulse Spending

If you find yourself splurging on more than you can truly afford, here are some ways to pull yourself away from the cash register:

• Wait. Really ponder if you need those new boots or if the family needs to go out for dinner tonight. Take an hour to think about it before pulling out that credit card.

• Spend what you have. Speaking of credit cards, if impulse buying is a real problem, consider doing all your spending with cash or using debit so you can never spend more than you have.

• Tuck money away. Keep a separate savings account (you can find a list of competitive rate accounts here) and create automatic transfers every month to be sure you’ve got money saved for your real needs. Tap into that account only when you need to replace your winter coat or do an urgent car repair.

• Shop at home. Before you head out to purchase new things or indulge in a nice meal, ponder the stuff you already have. Dig into the back of your closet for that great sweater you bought last year. See if you can’t make a gourmet meal with what you have in the fridge (and the help of an online recipe search). See which things you can repair around the house instead of buying a new replacement.

• Ignore the hype. Online sales. Commercials that tout a high lifestyle. Question the marketing you’re exposed to and ponder how you can find meaning in your life beyond your purchases. 

Don't waste your money.

Years ago, I was an Early Adopter for some electronics,  it mattered to me so much that I had to have the latest computers, or TVs – I always had to have the newest model. And while I did have some cool toys I still was able to make a down payment to buy my first house.

There are countless ways to waste your money, and you don’t have to be a shopoholic to fritter it away. Here are some of the most common ways people waste money, and some advice on how to stop spending money if you decide that you want to save.

Eat And Spend Smarter
Most of us recognize that it generally costs a lot more to eat out at a restaurant than it does at home. So common sense says, don't eat out as much as you eat at home. But even if you do limit meals and beverages to the occasional treat, there are still ways to save on your grocery bills.

Rule number one is to make a grocery  list before you head out. If both helps you stay focused on your needs – rather than those pricey impulse buys – and, if you make your list at home, you’ll avoid buying perishables you already have. 

Second rule is review the list at  the grocery store, and the third rule is only buy what is on the list.

Rather than paying a steep premium for those pre-cut veggies, pre-mixed salads, and other partially prepared convenience foods, do it yourself. A few other grocery shopping tips:

• House brands are cheaper – and often made at the same factory – as name brands.
• Clip and use coupons.
• Scan the flyers and stock up on non-perishable staples (toilet paper, soup, dried pasta, microwave dinners, etc.) when they go on sale.
• Buy in bulk, but only if you’ll be able to use it before it goes bad.
• Finally, make sure you follow that tried and true advice: never go grocery shopping on an empty stomach or you’ll end up with a cart full of unnecessary treats.

Be More Proactive With Your Financial Planning
One of the most common ways people waste money is in mismanaging how they handle their money. Miss a bill payment and you’ll be charged (high) interest and a penalty. Do it frequently and you’ll risk damaging your credit rating. Carry a balance on your credit card and, in most cases, you’ll be charged a very high rate of interest (up to 30 per cent or more depending on the card) backdated to the day of purchase. Withdraw cash from another bank’s ATM and you’ll get charged a service fee by both banks.

One way to avoid the first two charges is to apply for a line of credit – before you need it – so you’ll have it available for those times when your money cash flow falls short of your bills.

Choose Better Financial Products
Carrying the wrong credit or bank card is like throwing money away. You can get a leg up on your daily savings by choosing options that don’t charge fees, and earn rewards that actually help with daily affordability. Spend some time doing some research and  apply for cards that have low interest.

Part 2 Living paycheck to paycheck

Increase your income

Cut your cell phone plan

Have you looked at your cell phone history lately? If you’re using less than your allotted minutes, text, or data, switch to a lower plan. Comb through your history and bills, then ditch anything you’re not using.

Ditch the landline

It may be time to cut the landline. Cutting your landline service can save $25 to $30 a month – around $300 a year.

Take a staycation

Staycations are all the rage lately for one reason: They’re a lot cheaper than regular vacations. If you’re trying to stash away an extra grand this year, consider staying home and living like a tourist in your own city for a few days.

Raise your deductibles

Raising your insurance deductibles will lower your monthly payment. For example, raise your car and homeowners insurance deductibles from $200 to $1,000 and you could save hundreds in premiums. Just make sure you don’t raise the deductible higher than you can afford if you need to file a claim.

Drop your cable or at least turn off the premium channels 

Use NetFlix to to watch your favourite shows but If you want to keep your cable, at least ditch the premium channels. HBO, Cinemax, and Showtime each cost about $13 a month or $39 for all three. If you cut them off today, in just six months you’ll be $234 richer. 

Cut out ATM fees

My old bank didn’t have nearby ATMs, and they charged a convenience fee when I used one outside of their network – so I spent about $5 for every ATM withdrawal. Going to the ATM once a week was costing me $20 a month. So I switched to a bank with more free ATMs in my area, saving $240 a year. If you’re paying for access to your own money, you should do the same.

Buy out of season

Buying out of season (swimsuits in January or Halloween decorations in November) can save you a ton of money. 

Sell what you’re not using

Want a painless way to beef up your savings? Go through your house and toss everything into a box that you haven’t used or worn this year. Then sell that stuff and put the money you make into saving by  going the old-fashioned route with a yard sale or a visit to a consignment shop.

Buy generic

Many products are the same, no matter the brand name. Skip the name brands on pain relievers, water, milk, margarine, bleach, cleaning products, and spices. They all worked as well as their name brand counterparts, and you could save up to 60 percent.

Use coupons

Vow to always use coupons, and not just on your groceries. With sites like Groupon and LivingSocial, you can snag deep discounts at local retailers. 

Quit smoking

Smoke a pack a day and you’ll spend $144 a month. In a year, you’ll spend $1,733 on cigarettes. Quitting isn’t just good for your health, it’s good for your wallet. But if you’re not going to quit, at least save some money on the smokes you buy for example buying in cartons 

Reduce your energy use

According to The White Fence Index, U.S. consumers spend an average of $96.55 a month and $1,158.60 a year on electricity. If you reduced your bill by 30 percent, you’d save $28.96 in a month and $347.58 a year.

That isn’t hard to do – just install a few CFL light bulbs, turn up (or, when it’s cold, down) your thermostat, and flip the switch when you leave the room.

Ideas to help build wealth

Tax time helps us focus on money, how we spend it, how we save it. Here are some ideas to help when you are looking at money. The most important idea is #3.

1. Take time to plan. Invest time in working out a long term and short term financial plan. The worst thing one can do is start trying to accumulate wealth without a real idea of what they are going to do tomorrow.
2. Invest wisely. Research stocks and know the amount of money you are willing to lose. High return equals high risk. Stay diversified and you should not be disappointed.
3. Pay yourself first. One simple word, save. Before you pay rent, bills and the like, pay yourself that is why you work. Take it out of the money been before it gets passed around.
4. Use cash. Using cash not only gives you bargaining power, but it also brings spending to a more tactile experience. It is much easier to impulse buy with a card, but counting out the cash is a bit harder to do.
5. Do not depend on a credit card. Credit cards are not bad in and of themselves, but if you are relying on a credit card to pay your rent or bills, then you have a serious problem. Get on your feet first.
6. Pay off debt. Get the monkey off of your back and pay off those outstanding credit card bills or your student loans. Your personal net worth will never increase until debt is g-o-n-e.
7. Pay cash for big ticket items. This makes you save and think about whether or not you really need that 80 inch plasma TV. It also gives you bargaining power at the check out stand. Try it, it works.
8. Shop around. Prices on big ticket items and even cars and comparable houses vary from street to street. Know what is the going rate in a given area for a given item.
9. Give to charities. Read any book about people who were able to amass a ton of wealth and they will say that they gave to charities on a consistent basis. Karma, anyone?
10. Budget. Take control of your money, do not let it control you. Budgeting allows you to tell your money where to go and what to do. It is the single most helpful practice to get into on one’s way to becoming wealthy.

New Years resolutions, is it too late?

The New Year, and the new Mayan cycle are with us and have been for a while. Life goes on and many of us who have sat down and made New Years resolutions are now reconsidering them or have already decided to not follow through on them. However, I would encourage you to consider following some of the following tips to help you become more conscious this year so that you can have the life you want.

1.Take time to plan. Invest time in working out a long term and short term financial plan. The worst thing one can do is start trying to accumulate wealth without a real idea of what they are going to do tomorrow.

2. Pay yourself first. One simple word, save. Before you pay rent, bills and the like, pay yourself that is why you work. Take it out of the money been before it gets passed around. Warren Buffet said something like you should save first and then spend what is left over. 

3. Invest wisely. Research stocks and know the amount of money you are willing to lose. High return equals high risk. Stay diversified and you should not be disappointed.

4. Use cash. Using cash not only gives you bargaining power, but it also brings spending to a more tactile experience. It is much easier to impulse buy with a card, but counting out the cash is a bit harder to do.

5. Do not depend on a credit card. Credit cards are not bad in and of  themselves, but if you are relying on a credit card to pay your rent or bills, then you have a serious problem. Get on your feet first.

6. Pay off debt. Get the monkey off of your back and pay off those outstanding credit card bills or your student loans. Your personal net worth will never increase until debt is g-o-n-e.

7. Pay cash for big ticket items. This makes you save and think about whether or not you really need that 80 inch plasma TV. It also gives you bargaining power at the check out stand. Try it, it works.

8. Shop around. Prices on big ticket items and even cars and comparable houses vary from street to street. Know what is the going rate in a given area for a given item.

9. Give to charities. Read any book about people who were able to amass a ton of wealth and they will say that they gave to charities on a consistent basis. Karma, anyone?

10. Budget. Take control of your money, do not let it control you. Budgeting allows you to tell your money where to go and what to do. It is the single most helpful practice to get into on one’s way to becoming wealthy