Archive for the ‘Saving’

  • Frugal living and myths surrounding it>
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    Frugal living and myths surrounding it
    I hear people tell me that frugal living is overhyped and a bit of a negative influence and I can’t help but be tickled pink by such rubbish. Many of the people that run down frugal living barely give it a chance. I’m going to try and dispel a few months on frugal living, if you’ll just bear with me. Myth 1: Hunting for deals is a pain Personally, I love the thrill of the chase. Hunting for deals gives me greater satisfaction than just putting the cash straight down to buy anything at all. It could be something as big as a car or a house or it could be something as simple as groceries, I just enjoy hunting for deals. It’s barely drudgery like some people say it is. I recently saved $25 on shopping for my son, and all because I got my wife to log in toMr. Rebates before she checked out  [...]
    at January 1st, 2011 at 12:01 am
  • Groupon deals are not for everyone>
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    Groupon deals are not for everyone
    There have been so many success stories of retailers enhancing their businesses by using groupon deals that it is hard to ignore their success stories. . If you are not familiar with groupon, it is a web-based company that ties up with local businesses and sends off daily coupons to its members that can be availed of at these businesses. If members do buy these coupons, they end up getting discounts in the region of 50 to 70% on the regular price, so it’s a win-win situation for these buyers. As for the retailers and businesses, Groupon splits the sales value with them. That generally leaves retailers with something in the region of 20 to 25 cents per dollar of retail. It might sound good on paper, but it only takes a few minutes of digging for you to realize that Groupon, and by extension  [...]
    at November 29th, 2010 at 01:11 am
  • A man with a plan>
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    A man with a plan
    Retirement is a great time to just be you and spend money on the things you like to do whenever you want to do it. An acquaintance of mine certainly seems to believe so strongly and he shows this quite amply in the way he spends money at times (in my eyes most certainly) in meaningless ways. A lot of his money goes towards maintaining and restoring antique cars, an expensive hobby that takes a giant chunk out of anyone’s savings. Hobbies and interests such as this can take its toll on your retirement portfolio, so be aware of this when planning for your retirement. Let’s carry on with the example of the petrol-head, shall we? If he was making $15000 month prior to retirement, a good 60 to 70 percent of his income would have been going towards meeting his lifestyle needs, a further 20% or  [...]
    at August 30th, 2010 at 01:08 am
  • Retirement Redefined By Daniel Solin>
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    Retirement Redefined By Daniel Solin
    Recently I read the book ‘The Smartest Retirement Book You’ll Ever Read’ by Daniel R. Solin. This is probably different for other books. The personal finance books that I generally enjoy reading are the ones that add new insights to existing topics. This book too has some great points about retirement. Let’s explore the key points one by one. 1. Rethink Retirement Investment Solin mentions it very bluntly that if you don’t protect your retirement investment against inflation, you will run out of money much soon than you anticipate. Inflation is the only thing that can ruin your retirement plans. It can depreciate the value of money. So, the money you are saving now will worth much less during your retirement. So, what’s the solution? You can keep certain amount of your investment  [...]
    at July 14th, 2010 at 03:07 am
  • Personal Financial Planning Made Simple>
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    Personal Financial Planning Made Simple
    One of the major reasons why people are not able to manage their finances is lack of personal financial planning. If you have huge debt to repay, it’s because of insufficient planning. If you have saved enough for your retirement, you have not planned well. If you don’t have a penny in your pocket, you haven’t ever thought about financial planning. Personal Financial planning is essential in one’s life, irrespective of the age he starts. So, the below mentioned planning process is for you, whether you are male or female, 20 or 50, single or married. Just get started right away. Get Yourself a Financial Journal Sounds foolish? Well, you have tried all your smart ways, why not this foolish one as well. And let me tell you, this is one of the most useful ways to have a plan. When you have  [...]
    at May 10th, 2010 at 03:05 pm
  • Budget Traveling: Most Effective Tips>
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    Budget Traveling: Most Effective Tips
    We usually find time in a year or two to explore new places around the world, or, to be precise, take a break from our routine. Hence, during our trip, thinking it’s the only time of the year to enjoy, we usually overspend, where we could have saved without affecting the amount of pleasure of the trip. I will be traveling to the other part of the world next month and planning a trip, for me, is quite alien as I am not a regular ‘explorer’. Hence, I have searched for many budget traveling tips and compiled a list. Discounts If you check properly, you may qualify for one or the other discount on air ticket, hotels, or food. You just need to check smartly. Guidebooks It may be a bit boring to follow a guidebook. But, trust me, these guidebooks have some of the most effective money saving  [...]
    at March 25th, 2010 at 12:03 am
  • How to manage unexpected income?>
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    How to manage unexpected income?
    Income or money that arises out of nowhere, not exactly, is unexpected income. It can be anything like a birthday check of $20 or an income rise or a dividend. However, “anything” can be quite a vague categorization. Hence, let us divide this income into two categories: One time and Regular Income. One Time One time income can be tax refunds, or rebate check, or birthday money, or something like that. However, it comes quite often then we realize and instead of spending it appropriately, we squander the amount. Let’s have a look at how we can utilize it. If the amount received is below $50, use it for fun. You cannot do much with $50. If the amount is between $50 and $100, you can use it pay some of your bills. Or maybe add it to your savings. If the amount is above $100 and below $1000,  [...]
    at March 8th, 2010 at 01:03 am
  • The Best of What You Could Do With Unused Gifts>
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    The Best of What You Could Do With Unused Gifts
    On Black Friday, I bought myself the latest trendy timepiece in the market. On Christmas my friend presented me the same item. Now what am I supposed to do? I couldn’t probably be impolite to her and not accepted the gift. I can gift the extra piece to someone but let me think over other possibilities. I’m in need of some of money too so I like to think about ways in which I can recover money spent on extra items. I can return back the purchased items to the store I suppose. But then I seem to have lost my receipt in the holiday emergency (You know, a lot of relatives flooding your house with bag, baggage and gifts and you are so absent-minded about managing small things). So, the store will not accept the item and refund me my money. Ah! I can always give the item to my credit card issuer  [...]
    at February 1st, 2010 at 01:02 am
  • Simple Tips to Save 25% Gas Bill>
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    Simple Tips to Save 25% Gas Bill
    The gas price per gallon seems to be rising incessantly. But don’t fret, here are some very simple tricks that will help you to save around 25% of the gasoline cost. How? Here is it. The first 20% can be saved by driving and maintaining your car efficiently. Here is how you can do that: Remember that faster pace means more resistance against wind. This friction causes your fuel economy to drop. Drive smoothly with patience, less fluctuation in acceleration, and minimum usage of brakes. That doesn’t mean don’t apply brakes and start bumping your car everywhere. Apply when necessary. Use of overdrive except you are ascending a steep slope. Make use of cruise control, which means drive at a stable speed with stable acceleration and not using brakes, when on freeway. You cannot do this on  [...]
    at January 25th, 2010 at 01:01 am
  • Money Smartness And The Human Mind Connection>
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    Money Smartness And The Human Mind Connection
    What does your frugality quotient show? Does it increase as you grow older? Or do you feel you’ve reached a point where your frugality has attained a steady level from which it refuses to nudge? Or do you think that you have reached the pinnacle of fiscal enlightenment and are sliding down the slope right now? Well, this is individualistic. Behavioral economist, David Laibson and associates have conducted a study and released a report on how the levels of monetary wisdom change with age. In their very interesting  paper “The Age of Reason: Financial Decisions over the Life-Cycle with Implications for Regulation” which is yet to be released, they say that though your experience and age help in increasing your fiscal wisdom till a certain stage of your biological growth, with oldage ,  [...]
    at November 25th, 2009 at 01:11 am
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