| |
| |
|
Personal Finance Information |
|
|
|
Saving Dimes Can Go a Long Way
On the other hand, there are those people who are saving dimes and every other cent. Perhaps its because they hate the clutter of change but want to get rid of it instead of letting it accumulate elsewhere or still rely on the fact that change has value and should be used accordingly. For those who find it hard to save, start with a small piggy bank and contribute any lose change to that bank and let it grow. Change that you were going to use to buy a snack from the vending machine or soda, use to contribute to your piggy bank. Bring snacks and drinks from home to save on cash. Saving dimes may seem difficult to do but as stated before simply start contributing any lose change into a piggy bank. Then take on the next step. If you haven't created a personalized budget for yourself, now is the time to do so. A personalized budget lets you know how much money you have going out and how much money you have going in based on a monthly budget. Included in money going out will be all expenses for the month from mortgage/rent, utilities, food, gas, etc, and money that you are contributing to your savings. Income sources are listed under money coming in. Ideally you'd like to have more money coming in then going out. If you have more money going out, you are likely in debt, or on your way to debt. If you are realizing that your expenses are outweighing your income then you need to learn to cut back on certain expenses. Make your lunch inside of buying it everyday, rent movies instead of going to the movies, or walk instead of drive if feasible. In order to prevent yourself from spending your paycheck once you receive it, see if you can have a portion of it deducted and put into a separate account that way you don't even see it and therefore wont spend it. This way it seems as if you are working to pay yourself first, opposed to just working to pay your bills. Always remember in case an emergency arises you then have this money to turn to. Do you have goals in life? Think back to your piggy bank scenario. All that time spent saving dimes can be put towards something, even if it's only a small chunk of money, it can then be added to your savings account periodically. Aim to achieve your goals, and once you do, you will feel the success from accomplishing them and be able to set new goals to strive for. So perhaps you don't have any goals at the moment that involves taking a trip, getting out of debt, saving for a new house or so forth but think about why it's important to save money regardless. What happens if your car breaks down, you need a new roof, or need to pay out of the pocket medical expenses? Most people don't have cash easily accessible for these situations so that's why it's important to have an emergency cushion available to be able to afford these expenses and avoid debt, so start saving dimes today! Are you planning on retiring someday, if so you'll need to set aside some money to be able to live comfortably in your golden years. Today people are living longer due to advances in medicine and public health which means if you live longer you are going to need more money to get by. Although social security may provide you with some income in your future, it was never intended to be a primary source of income. Education isn't getting cheaper; the cost of private and public education is increasing every year. Don't put yourself at risk. What happens if you need a root canal, surgery, or whatever the personal case may be you don't want to be forced to take out a loan or put yourself in debt just to take care of your well being. So with that said, start saving dimes today. Start small by saving dimes and then work your way up to a savings account, which will gain more interest with the more money you contribute. Katie Spencer is a contributing writer for a number of international financial journals both online and in print. Katie has been delivering financial education to the public in a variety of areas to include budgeting, credit and debt management, and money saving tips. Recently, Katie has been in partnership with a national educational foundation to deliver financial advice to American consumers via the web. For more information and to read the latest articles published by Katie, please visit http://www.savingdimes.com.
MORE RESOURCES:
Personal-Finance - Google News |
|
|
|
RELATED ARTICLES
Banks Are More Than Just A Place To Park Your Money If you've been to a shopping mall lately, you've probably discovered two different banks within a few feet of each other. Go inside the food store in that shopping plaza and you'll see yet another one, just waiting to offer their services to you. I Want to Buy a Home - Now What? If you were to ask 100 women "What would you like to achieve financially?" Buying a home or apartment is usually one of the answers. Some women think that they can never own a home - which is not true! In fact, there are so many success stories of home buyers who never thought they would get there. 10 Steps to Take if You Are a Victim of Identity Theft There have been an estimated 9.9 million victims on America and over 40% of all consumer complaints in the U. Personal Finance - Have Consumers Had a Belly Full of Personal Debt? For months, we were trigger-swipe happy, putting our groceries, clothes, holidays and service charges on our credit cards. We wanted mortgages, we took out loans, we watched Property Ladder and What Not To Wear. Portfolio Planning can Lead to Irreconcilable Differences The judge had to ask the question, and we had to answer it in order to get our divorce finalized. It was all supposed to be pro-forma. Simple Ways to Save Money Things are so expensive these days. We seem to be hearing, and saying, that a lot lately at the gas pump, in the grocery store and especially when paying bills. Budgets And Eating - Can They Co-Exist? Whatever your reason for having a tight budget, the truth is that going to the grocery store without a plan is a BIG budget breaker. And sadly all that cash ends up vanishing into our stomachs and then. UK Parents Inactivity Harming Their Children's Future University and Mortgage Savings The British government at the beginning of this year officially launched its Child Trust Fund (CTF) initiative in an effort to encourage parents and children to develop the savings habit and to teach children the value of saving their own money.Chancellor, Gordon Brown said, "The Child Trust Fund is designed to ensure that every child in our country has assets and wealth and that no child is left out and all children in Britain have a stake in the wealth of the nation". How Check 21 Affects You The Check 21 Law is the new federal law for financial institutions and has taken effect last October 28, 2004.Before the Check 21 law was enacted, your paper check had to be physically transported from where the check was paid out before it could be deposited to the financial institution. Eight Ways To Sink Yourself Financially 1. Don't focus on your finances. When do You Need a Financial Management Company on Your Side? We live in a crazy world. Someone ought to sell tickets. Personal Checks - Extreme Benefits Millions of people have a checking account and many people have two of three. They have the choice of choosing a variety of check designs to compliment the checking account. Top 10 Ways Managing Your Money Is Just Like Riding a Bike An avid cyclist and bike racing fan, I sit transfixed during the many hours of Tour de France coverage every July when the race rolls around. This year, during some of the less-than-scintillating early miles of the sprint stages, my mind wandered a bit, and it occurred to me that there are some interesting parallels between winning the Tour de France and winning at personal finance. Top 10+ Ways to Jumpstart your New Year's Finances! Of course, these don't have to be done in any particular order! Just pick one or two that particularly apply to your situation. * Create your 2005 filing system. Improve Your Professional Image Using Address Labels One of the simplest ways to improve your professional image is by using address labels. Self-adhesive business labels are THE way to go when it comes to a professional image. Live Green; Save Green! Have you seen the recent article on a new "green" residential high rise in Battery Park? It's called The Solaire. For a look at the hopeful future of architectural efficiency, check out the myriad of cost saving and environmentally-friendly features of the building:http://www. Basic Bank Accounts Failing the Basic Needs of Consumers The lists of bank and savings accounts that are available to most people are bewildering. A quick look at a comparison site like Moneynet or Moneyfacts will reveal thousands of different products. A Fresh Start for Family Finances in 2005 While 40% to 50% of us make New Year's resolutions on January 1-a ritual that has existed since ancient times-approximately 60% to 80% of us have already broken them by the end of February, according to researchers.It's still not too late, however, to reset the trajectory on your family's finances, experts note. Personal Loans For Homeowners - One Of The Numerous Rewards For Being A Homeowner You no longer look at the pictures of homes cause you yourself bought one. Well, you know how you got that, it was a huge investment. Grocery Savings - Your Kitchen is a Goldmine! Your food budget is the most flexible area of your household budget. Grocery savings will free up a significant amount of money if you need to balance the budget, or fund your savings accounts.
|
| home | site map | Privacy Policy |
| © 2006 |
