Archive for the ‘Personal Finances’ Category

Recession Proof Your Personal Finances

Wednesday, December 9th, 2009


When it comes to making adjustments to hedge against inflation, there are very few adjustments available that will allow you to survive an all out inflationary recession. With the cost of food, clothing, and everyday living expenses being constantly adjusted upward due to rising fuel costs, then what can you do?

The key indicator for personal financial recession and it’s downside, ultimately rides on your fuel cost, whether it be unleaded or diesel. Choosing between the two is not a good option due to the flipped-ness of the big oil companies. A few years ago and for quite along time, diesel was the lesser expensive fuel choice, then out of the blue, it is now the most expensive. I won’t go into their reasoning, but let’s face it, diesel is a much more crude fuel than unleaded gas? Go figure?

Trying to find a way to offset your fuel costs will definitely help in adjusting to the recession, from a personal standpoint. If you own and drive a vehicle that is fuelish, you may want to switch to a more fuel friendly model, but I realize that’s easier said than done. There is however alternatives to downsizing your vehicle.

One seldom realized method of downsizing in vehicles is to donate your car or truck. There are charitable organizations that accept useable vehicles and you can write off the value from your taxes. This is a very good way to reduce your federal income taxes and thus keeping more of your hard earned money. Each state has a list of charitable organizations that do this type of donation and it’s well worth a look see.

If you are of the more stubborn type and you really do not want to part with your current vehicle, you can make some small changes to your vehicles motor operations and save a bundle in fuel cost. For years I have said that, if they can put men or women, being politically correct, on the moon, then they can make cars get 100 miles to the gallon. Don’t hold your breath waiting for that technology to hit the market any time soon, but there is some incredible breakthroughs that are not commercially recognized, where you can greatly improve your vehicles fuel efficiency.

Hybrid cars have been around for a while, but the cost and the really true efficiencies are not being shared with the consumers. What I am getting at, is the method widely being tried now in virtually any make or model of cars or trucks. This method is using gas and water together to extend or improve your mileage per gallon. While it requires a few minor adjustments, most people can apply this to their own personal vehicles and it still meets, and actually exceeds emission standards. So, basically it’s a win-win for you, and the environment. I would strongly suggest you investigate this process and relieve your stress, of how to get back or get even with the big oil companies and car manufacturers.

Greed is a terrible thing and ultimately the greedy will pay, unfortunately, we may not live to see that come to pass, but anything we as middle-income earners can do to hurry it along, can’t hurt. Since middle-class Americans, front the burden of most of the national debt and taxes in this country, finding alternatives to the wages of financial sin is our destiny.

By: Jimmy Wilson

About the Author:
To learn more about car donations: http://wealthsmith.com/car_donation.htm

And to find out more about using gas & water to run your car: http://offto.net/getfreegas/



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Bad Credit Personal Loans – Finances For A New Beginning

Thursday, April 30th, 2009


Instead of meekly surrendering to the prevailing circumstance, you should try to fight with. This sort of situation occurs when your financial condition is not good and along with you are having bad credit problems. It is not that you cannot avail any external finances. To allay your fears, now you can avail ample finances to sustain your various demands with the help of bad credit personal loans.

In fact these loans are designed to provide monetary assistance to those individuals who are having problems like CCJs, IVA, arrears, defaults etc. Through these loans, you have a chance to raise the necessary finance to execute your various needs. For instance you can use the amount for home improvement, consolidation of existing debts, going for a tour, purchasing a car or any other needs.

In the loan market, these loans are broadly classified in to secured and unsecured form. The secured form can be availed by pledging any valuable asset as collateral. Usually under this loan option you can borrow a bigger amount of up to

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Manage Your Personal Finances

Wednesday, March 11th, 2009


Savings accounts, checking accounts, computers, credit cards, and money are some of the important factors that play a very important role in managing your finances successfully. You can follow the following steps in order to do that.

When it comes to getting organized, you must keep in mind that everything needs a place, a home, a spot. The basic filing cabinet is the best way to organize the paperwork. The hanging files can make the best option. They are very easy ton work with. Moreover, they are much easier to access. A basic filing cabinet costs around $30 and is well worth the price. This way, they are economical as well, and none of your important documents will get lost.

Take care of everything, such as savings accounts, checking accounts, credit cards, and money as and when an update comes regarding the same. Do not let the mail pile up. The easiest way is that as soon as you bring in the daily stack of bills, you should go through each envelope immediately, and deal with all business related to the contents of the envelope.

The best way to manage all the aspects associated with savings accounts, checking accounts, credit cards, and money is to use a computer and organize your financial life. You must have heard the famous quote “If you have a computer, then you should be using financial software”.

Savings accounts, checking accounts, computers, credit cards, and money are like the blood of your financial life. Therefore, you must learn how to manage the same successfully. If you are unable to learn to manage these concepts, you may find yourself going bankrupt very quickly.

By: John Gutenburg

About the Author:
John Gutenburg has written many more articles about banks [http://www.banks-credit-loans.com/index.shtml] and loans [http://www.banks-credit-loans.com/loan.shtml].



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Tips to Recession Proof Your Personal Finances

Sunday, July 20th, 2008


Huge billion dollar bailout plans in the works, a credit crisis, a looming credit card debt crisis, state budgetary issues and an imminent government policy of bailout and spend means a recession is looming. It is only a matter of time until the current credit and financial crisis leads to a full blown recession, below we will outline the steps to help recession proof your personal finances.

Inflation and Recession is Imminent. I am no longer on the fence on the matter, the economic statistics are beginning to roll in and earnings season on wall street has just begun. Consumer spending trends oft follow corporate spending trends and right now the strategy of the moment is defensive. With the inevitable recession and inflation in our near future, if not here now, here is the top 10 list of ways to survive the coming recession.

1. Downsize: There is no way around this one folks, I know we hate to hear it, but to recession proof your personal finances it is time to spend less and attempt to earn more.

2. Create an emergency fund: Do what you can to increase your liquidity. Set up an emergency savings fund of cash that can be drawn upon in tough times if you have not already done so.

3. Hedge your portfolio with Gold: Consider moving a portion of your assets into gold. Not gold stocks mind you, but actual gold as a hedge against inflationary government bailout policies.

4. Pay down your high interest debt: Take a lesson from the failing financial institutions and pay off your high burden high interest credit cards or personal loans, or at least stop adding to them immediately to recession proof your finances.

5. Balance transfer to ease interest burden: Consider a balance transfer on your outstanding credit card debt and take advantage of 0% for a period promotional offers to ease the interest burden and get ahead.

6. Get Emergency Credit Now: If you are lucky enough to have equity in your home or real assets, consider getting a line of credit against the asset now, and leave it untouched and available for hard times. Credit will be tougher to get with new future regulations and policy.

All is not lost, and there is much that is bright on the horizon. The US is a resilient nation, with a generous hardworking and industrious people. Preparedness is the name of the day to survive the coming recession. Spend the time to recession proof your personal finances now, your balance sheet will thank you for it.

By: Ariel Pryor

About the Author:
Ariel Pryor is a credit expert who counsels and helps people with Really Bad Credit to get the loans and credit cards and begin rebuilding their credit. If you found this article helpful, let me help you save money and time finding your next Bad Credit Loans



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Balancing Your Personal Finances Made Easy Part 1

Wednesday, June 25th, 2008


In order to balance your personal finances and save money, you need to create a budget. This is the first step toward paying of your debt and saving for retirement. It leads to a future of financial security and peace of mind.

Approximately one half of your income should be used to pay for things you need. Experts disagree about the exact percentage, but it definitely should be no more than 60%. Write down all the areas that you NEED to spend money on each month from your personal finances. This includes food, gas, house/apartment payments, etc. Make sure you are honest and include only things absolutely necessary. (Do not include credit card debt or other debt here; they will come later.) Then write down how much you are paying for each of your needs that you listed. Take the total amount you are spending on your needs and divide that number by your total income so that you can see what percentage of your income goes for your needs each month. For example, if you make $2,000 a month, and spend $1,350 on your needs, you divide $1,350 by $2,000. This equals 0.675, or 68% of your income. If the amount you are spending on your needs is much over half of your income, as in this example, you are going to have to look for ways to save money on your needs.

Re-shopping your insurance: auto, renters/home, health, life, motorcycle, etc are some of the ways to save money on your needs. It’s important to re-shop insurance every 18 months to two years to make sure you are still getting the best deal. If you have an overwhelming car payment, you may have to sell your car. Maybe the expense most out of control is your housing. Try renting one of the rooms in your house out, staying with a family member for a while, or moving to a more affordable place. Get creative, and find ways to save money on your needs, so that approximately one half of your income is spent here.

Take the time today to find out what percentage of your income you are spending on your needs. Then, look for ways to save money on them in order to begin balancing your personal finances. Look for my next article to balance the second part of your finances.

By: Gina E Clark

About the Author:
Gina Clark writes on financial issues. Click here to learn additional ways to save money and manage your personal finances.



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Planning Ahead With Personal Finances

Friday, June 20th, 2008


The holidays are over and summer is upon us! it’s time to take hold of your life and get it back on track. Being serious about this now means you won’t be subject to grim news later, especially when it comes to matters pertaining to your personal finances. Reforming how you think about money is the key.

And maybe how you think about money means that you need to start thinking about it: what your relationship to money is, how you might have let expensive habits rule you, and how to work on using willpower to get you out of debt. Once you’ve figured these things out, you’ll be on your way to a successful relationship with your budget.

First, consider the kind of relationship you have to money. Just like a motive is important in solving a whodunit, so is this step vital to solving your financial woes. Any doctor could tell you that identifying a symptom is the first step to establishing a cure. So: do you burn through your paycheck as soon as it arrives, rushing off to get the latest fashion or the just-released game or the updated electronic device?

Or are you a hoarder, too scared to part with a nickel more than you have to? You may wonder, what’s wrong with that? At least my spending isn’t out of control. But fear, when it comes to financial matters, can be just as destructive as ignorance. Either way, you’re letting the money dictate to you instead of vice-versa.

Once you’ve thought about taking emotion out of your relationship with money, turn your attention to the practical. Take pen and paper and a cold hard look at your monthly expenditures. What is your greatest extravagance? New shoes, dining out, expensive coffee drinks, video games? Be honest. Check your debit and credit card statements. Note not only where, but when, you’re prone to spend the most money.

Now challenge yourself to drop one of those pricey habits for the New Year. That’s not depriving yourself of every pleasure; just one. And the boost to your bank balance will be immediately obvious. Frequent trips to the espresso shop can average out to five dollars a day, which adds up to over one hundred dollars a month. That’s on something you could make at home, and probably better.

Finally, take that new savings and start paying down those debts you acquired last year, most especially for the holidays. This reduces the principal, and as that balance goes down, so too does the interest you owe. And interest is the “silent killer” of the budget. Even if you bought that shirt for 50% off, it doesn’t turn out to be such a bargain sitting on a store card that charges 23% for unpaid balances.

It’s not as hard as you imagine, getting control of your personal finances. All it takes is re-evaluating your relationship to money – and adjusting your thinking accordingly. From that practical vein you can proceed to cutting out an extravagance and funneling that extra cash into paying down your debt.

By: Matthew K Barnes

About the Author:
Matt has been an online writer for nearly 2 years now. Not only does this author specialize in health, finance, and product reviews, you can also check out his latest website on Canon Power Shot SX200IS which reviews and lists the best Canon Powershot SX200IS for all your memorable times.



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Personal Loans UK – Get Finances For Your Personal Needs

Wednesday, April 9th, 2008


Money cannot buy you happiness, this is for sure. But for those sweet moments that you spend with your loved ones or for the happiness that is evident on their faces when you fulfill their desires are the memories that you cherish for life. For this even if you have to borrow money, it is no big deal if you do it through personal loans UK.

With personal loans UK, the borrowers find it very easy to get money to finance their personal needs like vacation trips, car purchase, wedding expenses, educational funding, buying a new boat, debt consolidation, home improvement, etc. All these needs can be easily fulfilled if you get good deals through these loans.

With money that is available in two forms to the borrower, he can choose according to the availability of the asset and also his need of money. If the borrower wants to get the secured form of the loan, he will be able to get a bigger amount in the range of

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Learning to Manage Your Personal Finances

Friday, March 28th, 2008


Let’s face the facts; one of the hardest things to manage is, of course, your personal finances. However, a lot of people do not know what it means to manage their personal finances. The good thing about this is that you can ask yourself four main questions that will be able to answer this for you. These are questions that can help you see if you have managed your personal finances the right way. Learning to do this is one of the hardest things that you can do. However, if you get to the point where you can do it, then you will live a very happy life.

The first question that you have to ask when looking at how to manage your personal finances is, can you meet your living means without using a credit card? This means, can you get by month after month without having to have a lot of credit card debt? If you can not, then you have not learned how to manage your personal finances the right way yet. This is something that people have to learn how to do. You have to learn to be able to break away from the credit cards and live debt free. Only then are you going to be able to handle your personal finances.

Then next thing that you have to look at is if you have any money saved up? Usually people do not get money saved up until it is late in their life. However, thinking about saving money up is a good way to get your Personal Finance in order. Remember, you need to make sure you can meet your living needs first. As soon as you can do that, then start saving money. After all, you can not start saving money before you meet your living needs. The sooner that you start saving money, the sooner you will get your personal finances in order.

The most important thing that you have to look at when you are trying to manage your personal finances is your job. You need to look at if you have a steady job that has reliable income. Now this is something that can be hard to do. That is because if you work in retail, you never know when you could get let go. So to have a steady job you have to be with a bigger company or your own boss. This can really help you get your personal finances in order. Your personal finances are the main thing that you need to be worried about. Get those in order first before you worry about other things.

The last question that you need to answer when dealing with Personal Finances is, do you have emergency funds? This means if something goes down, do you have the money to cover it? If you do, then you have your personal finances in order. Of course, this is a thing that goes hand and hand with saving. Keep all of these keys in mind when you are dealing with personal finances, and you will be on the road to financial freedom.

By: Usha Pradhan

About the Author:
Usha Pradhan has completed her MBA in finance sector and currently working as financial author for cash loan by phone. She is contributing her knowledge on loan, cash loan, finance. To know more about her please visit website www.cashloanbyphone.com.



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Teach Kids How to Manage Personal Finances and Save Money

Tuesday, February 12th, 2008


As our economy worsens, our own personal finances get tighter and many of us become concerned with our finances. Instead of trying to hide this from our children and shelter them from these worries, it’s the perfect opportunity to begin teaching them about finances, budgets and how to save money.

Many parents are hesitant to discuss their personal finances with their children. They may feel that discussing finances will burden and worry them. Or maybe they want them to just focus on studying and school work instead of worrying about money. However, it’s very important to teach children about personal finances. If they grow up not having a good grasp of how to handle money, they are more likely to run into serious financial problems. There is a greater risk that they will be unrealistic about their future income, which can lead to several problems. They will be more likely to take on higher student loans than they will be able to pay off. This is also true for the amount they spend or borrow for cars, apartments and/or houses, cutting into their future savings, retirement and financial security. Taking on extra credit card debt and paying only minimum balances is another high risk they run. It is essential to teach children about finances and how to save money to prepare them to be financially responsible adults.

There are many things you can do to educate your children about personal finances. When they receive money or allowances, have them begin saving a part. Talk to them and explain to them why this is important. Have your children watch you pay your bills and let them see your paychecks. Show them how you budget your money. When your family needs to cut back, include your children in the discussion. It’s important for them to learn how to handle financial difficulties. Also, ask them for suggestions of ways your family can save money.

The benefits of teaching your children how to save money and about personal finances will carry throughout their life. Adults who learned about finances growing up are more financially savvy than adults who were not taught this as children. These children grow up into adults who have a better understanding of money and a more entrepreneurial mindset. So begin teaching your children how to save money today!

By: Gina E Clark

About the Author:
Gina Clark writes on financial issues. Click here to learn additional ways to get out debt, save money and manage your personal finances.



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5 Tips For Managing Your Personal Finances

Sunday, January 27th, 2008


Managing your finances can be one of the most important and difficult things to do, especially in today’s failing economy. People are losing their jobs, losing their homes, and going bankrupt at an alarming rate. Here are 5 tips to get you started with managing your finances and your future.

1. Set Goals

Setting realistic goals is the first step to managing your finances. Every person will have different goals. Perhaps it is saving up for a down payment on a house, a vacation, your child’s education, or a high end home entertainment system. Maybe you are trying to pay off your credit card debt, or pay down your mortgage earlier.

While setting your goals, remember to be as specific as possible and keep it realistic. Saving up $20,000 for a down payment on a new house in one year will be impossible if you are only making $50,000.

2. Create a Budget

You will hear it time and time again, but a budget is the most important tool to managing your finances. Make sure that you incorporate your goals into the budget and leave some breathing room. It will be more difficult to stick to your budget if an unplanned purchase of $10 brings you over-budget.

3. Use Available Tools

There are many available tools out there to help you manage and keep track of your finances. Use online banking so that you can check your account frequently. Use software such as Quicken, Microsoft Money, or even Excel to create your budget and keep track of expenditures.

4. Micro-Manage

This is especially important when you are starting out. Hold on to all receipts, write down all transactions in your check register (including cash transactions) or keep track of them in finance management software. Categorize all of the items and keep track of your spending in each category. Evaluate your budget several times a week to make sure you are still on track.

5. Anticipate Emergencies

Nothing can blow a budget quicker than emergencies. Make sure that you have enough money saved up for some common emergencies that might occur, such as a problem with your car or insurance deductibles or hospital bills. If you do not have to use a credit card or loan to pay for these things you are much better off.

Managing your finances can be an intimidating job. However it is the most important aspect of maintaining your happiness and lifestyle. With these simple tips you can manage your finances and prepare for your future.

By: Kristin Yates

About the Author:
Kristin Yates writes on personal financial issues. Please visit her blog at Personal Financial Cents.



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