Recent Articles

  • Finding a Cheap Car Insurance for Young Drivers
    Though people all around the world, especially young drivers, are trying to search cheap car insurance on the web, it’s not quite an easy task. There is, however, a reason for this scarcity. Let’s have a look at why it is difficult to find cheap car insurance for young drivers, and what are the ways to avail it. According to a recent auto research, majority to total people involved in car accidents are young. Hence, the price to cover this risk is too high. If you are looking for cheap car insurance for young people, you need to ponder on few things before availing it. Why car insurance for young people is so expensive? Premium of car insurance are set keeping in mind the risk and the cost involved it to cover it. Risk of providing coverage to a young student is too high, they are statistically more prone to an accident than  [...]
    Posted at April 5th, 2010 at 06:04 am
  • First it was spending, now savings is ruining the economy
    A couple of days ago, while watching CNN Money, a reporter said, “Saving money, paying off your debt, and cutting down your expense is a great idea to manage your personal finance. If, however, every American starts doing this, it would worsen the economy.” Though it might have made some sense to them, this sentence is utter crap. No, I think it makes a bit of sense, but they are missing the main part. After doing endless research, I realized few factors are affecting the growth of our economy. We are facing such a crisis due to similar reasons. But how could savings be a problem. It was spending, actually overspending, that led us into this crisis situation. Though spending boosts the economy, we were wasting too much of borrowed money. I still remember a the economic situation of the US in 2005-06 when saving rate fell considerably,  [...]
    Posted at April 1st, 2010 at 02:04 am
  • Easy Ways to Get Rich Quick
    Though I have always been against ‘get rich schemes and tips’, I have been receiving numerous emails asking the much-repeated question ‘how to get rich quick.’ Earlier, I had posted many articles on investing in 401k savings, CD’s, savings account, stock market, real estate, and gold. These tips, however, ensured a steady income rather than quick riches. This explains the bedlam of people wanting to earn money overnight. Not anymore. Here is a list of things to do to earn money instantly. Stock Market Speculation We all know stock market is a place to earn a fortune. You just need to invest in right companies and at right time. Remember, every big company once started small. Find an emerging company in a booming sector, and invest in it. Buy Property Housing prices are definitely not at their peaks. Get a mortgage and  [...]
    Posted at March 29th, 2010 at 04:03 am
  • 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 tips while you are on a trip. You aren’t,  [...]
    Posted at March 25th, 2010 at 12:03 am
  • 5 Reasons Why I Can’t Stand CNBC
    When I was in college, I loathed CNBC, mainly because I never understood the figures that rolled over the banner. And I wasn’t a kid to like the channel due to the colors, graphs, and females they display. Later, as I learned about finances, I started liking the channel, as everything they spoke made sense, mainly because I understood it. A simple reason why market crashed would astonish me and make me appreciate the channel’s brilliance. I now realize I was quite immature and naïve. I am back to my initial views about CNBC – I loathe it – not because those figures don’t make sense, but due to these 5 reasons: When there is a breaking news, CNBC is just like any other news channel. They keep repeating the story over and over again. They do it to update people about it who have just switched on their TV. But why do I have  [...]
    Posted at March 22nd, 2010 at 01:03 am
  • Tax Deduction for Home Based Business Owners
    This year, if you are a freelancer owning a business, you can save a huge amount, or precisely, reduce your deductible tax income considerably. Let’s have a look at some of the very common ways: Office Space As a freelancer, if you are using your home space for business, you are entitled to waive off your office space. The amount, otherwise, paid as rent or mortgage can be deducted from your taxable income. Thus, working a s a freelancer can earn you more than a regular employee. Also, a part of your renters or homeowners insurance is can also be deducted as non-taxable income. Bills Working from home means using personal telephone lines, internet, and other utilities. These expenses, however, can be deducted up to the amount used for commercial purposes. If you have a dedicated phone line or fax for your business, it can be completely  [...]
    Posted at March 18th, 2010 at 01:03 am
  • Net Worth and Human Capital
    Finance is definitely an important part of our lives today. We need money for everything, from shopping to paying bills to leading a happy life. Finance is also a status symbol and quite often, the way people are treated depends on the amount of money he/she has in his/her bank account. Very little is, however, known about who you are as a person, if you are gauged depending on the wealth you have accumulated. If you are termed as a ‘millionaire’, it describes nothing about you, except your ability to make money. Net worth, today, means how much do you have financially. What about the other traits one has? Aren’t they his assets? Okay, let’s leave the ‘traits aspect’ out of court for a while. Net worth is defined quite narrowly. You cannot neglect net income as well. It is something that defines your financial well being,  [...]
    Posted at March 15th, 2010 at 01:03 am
  • Taming the Monster: Wiping Out Credit Card Debts Practically
    I don’t know how much you owe to the card providers and how you accumulated such considerable debt, but I know one thing for sure, for most of us, repaying credit card debt is an immediate worry, and probably the biggest. Recently, we have heard economists being a lot optimistic about the economy and the job market. While there is no equipment for a common man to measure the GDP, one can quickly say, just by looking around, the employment rate is certainly not growing, not even gradually. Many lost their jobs and many experienced a sharp cut in their income. They, however, had one thing in common. They didn’t have much saving and relied heavily on credit cards. And gradually, the minimum payment exceeded their income. Hence, we now see lots of people opting for debt management and debt consolidation plans. Today, however, I would  [...]
    Posted at March 11th, 2010 at 01:03 am
  • 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, divide it into two and use it to repay  [...]
    Posted at March 8th, 2010 at 01:03 am
  • Money Hiding Places at Home
    Talking to one of my insane friends, I realized the importance of keeping some money at home. While he wanted to hide some money from the zombies, they exist according to him, I wanted to stack some cash in order to avoid an redundant trip to the ATM. After reading some articles on the web, to find places to hide money, I realized human ingenuity is boundless. People bury their cash in their attic, in the toilet paper roll, in the cookie jar, inside the i-beam, in a water-proof jar buried in the backyard, and inside many cans placed elegantly in the pantry. However, I wonder if they can recover their cash before zombies get hold of them. Now that you know numerous places to hide your money, you have to derive a plan. Dumping all your cash at one place, say in a jar, definitely provides you the ease of accessing at in a moment. However,  [...]
    Posted at March 4th, 2010 at 01:03 am