Financial Tips and Money Management Advice

Money matters: When is the best time to buy big appliances?

appliancesThink of what happens when you buy things on the last minute rather than planning the purchase well ahead of time. The first scenario will end up finding a so-so deal, while the latter gives you a good if not the best deal. The moral of the story is to find a good deal way ahead the time when you are in desperate need for a replacement.

There are certain times in the calendar when you can buy refrigerators, washing machine, dishwashers, gas ranges, and other appliances. Here are some helpful tips to guide you:

When is the right time to get a new appliance

When planning about your large appliances at home, you might want to have a rough idea of its life span and try to plan a purchase before they breakdown. This strategy will allow you to get the best payday loan consolidation vi@ PaydayLoanHelpers q¬ ⍊¬ p value out of your money. So when you buy your appliances ask for an estimated lifespan and also monitor if they are starting to perform poorly.

Matter of timing

Consider following the suggested calendar below on buying appliances

  1. January
    A lot of stores will have new models coming in by the start of the year so most likely they will need to clear their inventory. And as the new year kicks off, you can even find more discounts.
  2. May
    During the spring, you can find a lot of refrigerator models on discount. New models are usually rolled out during the summer
  3. September thru October
    This is the best time to do major appliance purchases. Manufacturers release their new models during these months so the models of last year will be discounted.
  4. Holiday Weekend
    Name any holiday weekend and appliance stores will most likely have a sale on that weekend. You will most likely find a great deal during this holiday weekend appliance sales.
  5. Anytime over the internet
    All year round you can find a great deal as long as you search for them well.

Ways to Prepare for Retirement in Your Forties

There are some people that do not even think about retirement and how they are going to live on their retirement benefits until they are in their forties because when they are in their twenties and thirties retirement seems so far away. By the time they reach their forties they start to realize that in twenty-five years or so they are going to be ready to retire and enjoy life and the thought hits them as to how are they going to live on their retirement benefits. safeNow comes crunch time and they start to scramble and try to find ways to start saving. Here are some suggestions as to how you can start saving for your retirement when you are in your forties.

- The first thing is that you need to decide what kind of savings you are going to use. Is it going to be a savings account, a mutual fund, or an IRA? Whichever way you are going to save make sure that you stick to your goals and start saving, even it you have to start out small and then add more to what you are saving over time.

- You also need to know your what your retirement needs are going to be because it can be expensive. It is estimated that in order to retire you are going to need about seventy to eighty percent of what your pre-retirement income is to be able to be able to maintain the standard of living that you are now use to.

- Check to see if your employer has a savings plan for retirement and contribute to that. This would most likely be a 401K plan and it is possible that the company will either match or put in another percent above what you are putting in yourself. Since the contribution is taken out of your paycheck before taxes are taken out, your take out taxes will be less.

- Find out if your employer has a pension plan and then make sure you are covered by the plan. Make sure that you find out what your benefit would be once you retire. You also need to see what would happen to your pension benefit if you change jobs or you lose your job to downsizing.

- Once you start saving for retirement make sure that you do not touch your retirement savings. If you do you will not only loose interest and principal, but you may also have to pay penalties for early withdrawal and loose tax benefits. If you do change jobs you can either leave your savings in your current plan, put them in your new employer’s plan, or change them over to an IRA.

These are just a few ways that you can start to save for your retirement and make sure that you will be able to maintain the type of lifestyle that you are accustomed to. You should also find about what your Social Security benefits will be at the age of retirement because that information will help you know just how much extra you will need to have a month to maintain your current lifestyle.

The Credit Card Fees We All Hate…

David Lazarus explains credit card fees in a way even I can really understand…  I didn’t know the loophole the gas stations are using, and I think they should ban this asap. Seriously.

Keep in mind though, this is only for the state of California… :)

The Impact of the Financial Crises in American Families

The financial crisis in 2011 has affected the American families in so many different ways from having to downside where they are currently living to having to relocate for a job and everything in between. The poverty level has hit an all time high here in the United States. With 2011 not being over it is hard to tell what the poverty level will be when 2012 makes its appearance, but in 2010 there were almost forty-six million people that were living below the poverty level, which is equal to fifteen point one percent of the population in the United States.

With the financial crisis that the United States is experiencing this means that families have two choices. They can either deal with the situation or they can apply for assistance from the government, but the question is, will they qualify for any bill $1assistance? The government considers that if you make over twenty-two thousand one hundred and thirteen dollars with four people in the house, you are at poverty level, but one dollar more and you are above poverty level.

Another way that the financial crisis is impacting the American families is that many of them do not have any type of health insurance. With the jobless rate around ten percent people are having to decide whether to eat, have a roof over their heads, water and heat, or have health insurance.

For a long time it has always seemed like for a family to survive both parents must work, but there were a few instances where the mother could be a stay-at-home mom, but that option is slowing decreasing as the working spouse is losing their job, they are having to take a cut in pay, work less hours, or lose their job and have to take one with less money. With both parents having to work they may now have to pay for child care services which cuts into the money being brought into the house.

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Dave talking more sense…

But I mean… Food on the food envelope?

Dave Ramsey Makes Some Sense…

Dave is a shocker – but this time – he does make quite a bit of sense…

The “that’s what millionaires say” is pretty stupid though, and does take away some of the legitimacy of this video, but hey, I’m assuming most of you are smart enough to see through that… ;)

How to Start a College Fund for Your Teenager

Going to college is expensive and the years go by it is going to get more expensive. The best way to start saving for your teenager’s college fund is to start when they are babies. Many banks have programs that are like a savings account that you can deposit money into, but it is called a college fund. There is an insurance policy that you can get and when the child turns eighteen they can either continue the policy or they can cash it in and use the money for school.

In order for you to know approximately how much it is going to cost your child to go to college there are some online calculators that you can use to see how much it would cost. Once you have an idea of how much it is going to cost then you need pic studentto decide if they will be going to a private, public, or community college. Of course the most expensive college would be the private school with the community college being the cheapest.

In addition to the saving’s account there are education IRA Benefits that have less taxes that you can get for their education. All you have to do is decide just how much you want to contribute to the fund each month and just make a payment to it. When your child gets old enough to get a job have them put a certain percentage into a fund or savings account toward their college fun. You could also consider getting a mutual fund, but it would be best if you stay away from stocks as these can be risky.

Instead of getting a lot of toys for Christmas as their grandparents, aunts, and uncles to give the child a savings bond, which they can get for twenty-five dollars.

In addition to figuring out approximately how much it is going to cost for college you should figure out the number of years you have to before they go which would be at least eighteen years if you start saving when they are born and then figure hour much you would like to have saved up by that time. Once you have that figure you can divide by the number of months so you will be able to see how much you should save each month.

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Five tips to battle foreclosure

There are so many problems with foreclosure due to our recent recession. People simply do not have the money that is needed to take care of their homes. This could be because they have lost their job, had their hours cut, or are simply not able to afford the variable rate mortgages that they initially thought were a good idea. Luckily, there is some hope for the future. There are many ways that you can find to help you get out of foreclosure.

One of the best tips is a short sale. This is where you will sell your home back to the bank for less than what it is worth. Many banks are taking advantage of this because they are able to recoup a good portion of the money they loaned out. foreclosure picYou might have to take advantage of these offers quickly, as they do not often stick on the table for very long.

Second, you need to face the problem. Sometimes people are scared, and you have every right to be. However, ignoring your foreclosure is not going to help the situation. You need to be aware of it and work with the bank if at all possible.

Thirdly, know your rights. Many times the mortgage or collection companies are going to be knocking on your door, calling your at all hours of the night and just making your life miserable. There are certain conditions that they have to obey. If they do not obey them, report it! You might be able to make a case off of this alone to save your home.

Fourthly, talk to a housing counselor. They are often available in your area, sometimes through the government. They have detailed information about what programs can be used to help you in your current situation. If you do not talk to them though, they do not know where you are and will not be able to help you.

Fifthly, make any payment you can. If you keep showing the bank that you are making a good faith effort towards paying the loan, they may reconsider foreclosure. You might be able to get your total loan amount lowered, or have other conditions applied to your loan. Do not worry if they do not sound interested at first, you might not of talked to the right division. Keep calling until someone who cares about your case answers the phone, they will eventually!

Simple & Easy: How to Become an Accountant

Well, I became one – so why shouldn’t you. I’m not a huge ehow fan – but this video is pretty straightforward and correct. :)

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Money Risk Management in Trading

Joseph Barrington-Lew talks about money management and risk assessment for beginner and expert traders…