money-is-important-whether-you-agree-or-not
Money Is Important - Whether You Agree Or Not
Writen by Cheriyan Thankachen
When I talk to people about having multiple income streams, they say why are you so money minded. Having multiple sources of income is a topic which is definitely important, to be known and the need understood. How many times we have heard people say the following things:
1. Money, isn’t everything.
2. You should be satisfied with whatever money you.
3. Don’t be so money minded.
4. I don’t care about money.
5. Money is not important.
and more phrases.
Well, with due importance to their thoughts, money might not be important for them. But, I surely bet, money is important to their milkman, money is important to their landlord, money is important to their banks if they have taken loans, money is important to the person who holds their mortgage, it is important when you go to a hospital. I can go along giving more examples. You may not need money but, almost every individual who is connected to you needs money. As a matter of fact, money is important to any individual living in a civilized city. Please do not try to cheat yourself by knowingly denying its importance. Nothing can take the place of money in the area where it is required. Therefore, to argue that it is not important is just illogical and meaningless.
The simple truth of you getting up in the morning and going to work is because money is important. I come across individuals saying, “It’s all about satisfaction and not money”. I fully agree if you are doing social service else you will show your displeasure immediately. If satisfaction is important - employers will hire only satisfied employees and not give money. Some people say money is not important just because they are unable to earn money or they say someone with more money is lucky. Luck does play a role in your financial success, it is never sufficient in and off itself. Some even go ahead and say too much money is bad.
Money is important - it is neither good nor bad. It depends on what you do with it. There are no free rides in the world, money is an effect which is always earned with effort and hard work. So, next time you get an opportunity to earn, go ahead and create another income stream.
|
Cheriyan Thankachen |
what-to-look-for-in-a-financial-advisor
What to Look for in a Financial Advisor
Writen by Jay Moncliff
Competent financial advisors don’t have a particular look about them, even if they claim to have proof of their ability. To protect yourself, it is important to ask the kind of questions that will indicate whether the potential advisor has the requisite level of skill to handle your financial affairs, or whether you should look elsewhere. The following simple questions will help you determine if the advisor under scrutiny can really help with your financial affairs.
The first enquiry you should make relates to education. Competence and quality with advisors comes in the form of a relevant tertiary education, professional memberships of financial advisory groups, and certificates or further qualifications that show ongoing professional development. It is also important to enquire about length of experience in the financial industry, and in particular how long the individual has been working as an advisor. This should be considered the first step in your financial advisor selection process.
The second avenue of enquiry relates to payment for services. This question is important as financial planners can bill hourly, work for retainer and some work on a commission basis. Each of these payment channels attract differing fee levels, and this information will influence your choice of financial advisor. It pays to know up front.
Another excellent gauge of success and ability is testimonials, and in particular referrals. If the financial planner you are considering cannot provide referrals you should be sceptical about any claims about past success they may make. The opinions of previous clients are excellent indicators of the ability of a financial planner.
Finally, ask for a plan. Any financial advisor worth their fee will happily outline the scope of their services, tell you what information you need to provide them, and work with you across all relevant areas to develop a plan for you to reach your financial goals.
|
Jay Moncliff is the founder of http://www.mileniumfinancialservices.com a website specialized on Financial Advisor, resources and articles. This site provides updated information on Financial Advisor. For more info visit his site: Financial Advisor. |
tips-for-safe-and-secure-banking
Tips For Safe And Secure Banking
Writen by Peter Kenny
Although most of us never have any security problems with are banking, fraudsters and identity thieves are finding more and more ways to steal our hard earned money. If you are careless with your banking then you can make it very easy for people to access your details and steal your money. If you want to keep your banking safe and secure, then follow these simple steps.
Careful ATM use
The simplest things can help to protect your money, and one such step is to be careful when using cash machines. Make sure that you don’t have your PIN number written down anywhere, and check behind you to make sure that no one is trying to read your number whilst you type it in. Also, if you see anything suspicious on or around the cash machine, don’t use it.
Destroying documents
We all receive a heap of bank statements and correspondence from our banks, many of which we simply don’t need to keep. If you are going to through out anything that is related to your financial affairs or bank accounts, then make sure you dispose of it properly. A common trick of identity thieves is to look through your rubbish to obtain your bank details. Make sure that all important documents are kept safe, and that any discarded documents are thoroughly shredded or torn up so as to make them unreadable.
Never give out your details
Another technique that is used by fraudsters is to try and get you to give them your bank details by sending you mail or email pretending to be your bank. If you get emails or messages asking you to give up your bank details, then ignore them completely. Your bank will never ask you for your details via postage or email, as these methods are not secure. If you are unsure about whether an email or message is genuine, call your bank to obtain confirmation. Also, you should never give out your bank details to anyone that you don’t trust 100%. The more people that you give your details to, even family members, then the more exposed you are to fraud.
Online banking
When you are banking online, make sure that you only access your account in a secure place, and try to avoid looking at account details on public servers. Also, you should make sure that you have adequate virus protection and firewall software on your company so as to stop anyone accessing your bank details. Furthermore, try and avoid making purchases on web sites that you do not trust or if you are unsure about their security features. Try and avoid using debit cards altogether online for purchases, as their security features are much weaker than credit cards.
Reducing the risks
The key to safe and secure banking is to reduce the risk of your account details being exposed. The best way to do this is to go completely paperless, as some banks now offer online only accounts. If you have adequate computer protection then paperless banking can really reduce the risks of your bank details being used by someone else.
|
Peter Kenny is a writer for The Thrifty Scot. Please visit us at Savings Account and Unfair Bank Charges Visit http://www.thriftyscot.co.uk |
receive-cashback-for-any-purchases-made-online-amp-receive-money-for-clicking-links
Receive Cashback For Any Purchases Made Online & Receive Money For Clicking Links
Writen by Matthew Tutt
There are two main cashback websites which reward people for purchasing goods and such online. I will now talk about both of these websites in more detail, showing how to earn the most money from both of these sites.
Site 1: Rpoints
Rpoints.com is a well respected and rapidly growing internet site, which already boasts thousands of members. This website provides users with the opportunity to earn free cash. As with HBUK, there are no catches, no obligations and no getting inundated with spam. It is simply a way to earn a little bit of money on the side and it is simple and very straightforward to do so.
~Join Now~
If you sign up to rpoints.com via this website, you will automatically put yourself in line for a
6-steps-to-free-goverment-money
6 Steps to Free Goverment Money
Writen by Cameron Martin
I’ve got it! I’ve finally figured out how we can put our hands on some free government money. Stop working so hard. Stop thinking so hard. Stop trying to figure out how to make a million dollars this year. We can get free government money. What needs to be done is this It’s actually very simple. I’d like you to have a fantastic meal for dinner this evening . Remember we’re on the verge of receiving free government money. This is great. I couldn’t believe the answer was right out there, right in front of my face. Now get ready for bed tonight; for tomorrow we claim what’s ours. Sleep soundly my friend, and dream like you’ve never dreamed before. Fortune favors the bold.
The alarm clock sounds are you ready for your instructions. They are as follows:
- Put on a nice jacket, or sports coat. You want
to look professional when you claim your free
g-money, don’t you?
- Kiss you’re significant other goodbye. Their life is about to change as well.
- Pick your mode of transportation.
- You’re first stop is the local bank. Now is when you have to be bold. Declare what is yours, brother!
- Enter the bank, and look for an open bank teller O.K. you’ve spotted one, now walk over casually, and.
Below is the 6th and most important step in claiming your Free Government Money!!!
- say these very words, “this is a stick-up, put your hands in the air, and nobody gets hurt…”
Now, after you’ve been fingerprinted, and stood trial for bank robbery, you are certainly on your way to enjoying 10 to 20 years of free government money.
Stop with the get rich quick schemes!! The only person those scams are making rich are the other guy. We can make some concrete changes in your life, and finally moves towards a life where money is flowing, and you’re healthy, and it may seem to others that people are freely giving you money, but you’ll have the deep satisfaction of knowing you earned it using your God-given skills. Until then
|
Cameron Martin (http://www.thesuccessfulman.com) is a writer, speaker, researcher, whose no-nonsense approach to success in the twenty first century is utilized by hundreds of clients via the web, and personal coaching sessions. Founder of The Successful Man Institute, he utilizes cutting-edge research combined with old-fashioned common sense to coach men in the fields of health, wealth, and wisdom. |
earths-population-to-drop-by-80-percent-says-top-uk-scientist
Earth’s Population to Drop by 80 Percent, Says Top UK Scientist
Writen by James Finch
Some like it hot. According to environmentalist James Lovelock, we’ll get plenty of hot between now and the end of the century. “We are so far down the path toward the hottest we have been, since we were 55 million years ago,” Dr. Lovelock, who is also a leading atmospheric scientist, told StockInterview in a tape-recorded interview last week, “that as many of us look at it, it’s not going to make very much difference what anybody does.” In stronger commentary, which he wrote for England’s Independent newspaper, this past January, Lovelock warned, “The Earth is about to catch a morbid fever that may last as long as 100,000 years.” And we were worrying about another Ice Age?
Skeptics might wonder if his 1200-word essay was just book publicity hype. Lovelock’s scathing our-world-is-doomed article was published about two weeks before Penguin Books (UK) began selling his latest work, The Revenge of Gaia, in bookstores across the British Isles. He did admit within his newspaper commentary, “This article is the most difficult I have written.” While interviewing Dr. Lovelock, during our transatlantic phone conversation, the octogenarian sounded sad with his prediction, but still optimistic, despite his ruthless appraisal of what may lay ahead for the rest of this century. “I see the crunch coming as an opportunity to improve ourselves in a way. Who knows? Man may have a better chance when he starts again.”
ONLY ABOUT ONE BILLION HUMANS WILL SURVIVE
What does he mean by starting again? “By the end of this century, there is a high probability that the bulk of our species on the planet will be eliminated,” the soft-spoken Lovelock gravely remarked. “There may be something, plus or minus, on the order of a billion left.” Is there much hope, we asked. “I don’t see our current civilization hacking it,” he lamented in his response. But, but, what if? “Enormous changes must be made,” he stressed. “Society is much too slow in cutting back.” He insisted these changes should have started at least 50 years ago. Later he added, as an afterthought, “If Europe and USA were trying to be good and cut back by 30 percent, it’s really not going to help much. I don’t think the public wants to do it.”
In Lovelock’s forecast, he envisions, at the end of this century, the last few humans would be forced to rebuild the remnants of our civilization in the Arctic. It won’t be as cold up there by then, as you might think. He told us, “Within 25 years, most of the global ice in the Arctic will be gone. You will be able to take a sailboat to the North Pole.” How long before we begin to feel these changes? “In my own modeling, I rather think it is an unknown number of years,” Lovelock explained. “It may be five years or it may be 30 years.” He offered a visual, “Think of it as a rope or a string. Global warming may run up in a straight line or a curve lying a bit loose as the IPCC seems to project.”
Lovelock summarized why his forecast is dire and probably irreversible, “Everybody forgets the greatest damage we’ve done to the earth is not so much the emissions from greenhouse gases, but taking away the natural resistance from the farmland ecosystem. By doing that, we have disabled the planet’s ability to regulate itself.” Lovelock does not enjoy painting a picture of what earth might look like several decades from now. He wrote in the Independent, in January, “Much of the tropical land mass will become scrub and desert, and will no longer serve for regulation; this adds to the 40 per cent of the Earth’s surface we have depleted to feed ourselves.” Through his book and in various articles, Lovelock has repeatedly blasted environmentalists who gamble away earth’s future by campaigning for renewable energy sources.
That’s when we began talking about environmentalists, especially the idealists who claim to be helping preserve the earth. So, we asked this leading environmental scientist what was really wrong with today’s environmental movement. Bitterness entered his voice when Lovelock answered, “It’s mostly made up of urban people, who know almost nothing about the countryside and still less about the ecosystem.” He scoffed, “Their solutions are basically urban-political solutions. They continue to insist on wanting to run their cars on bio fuels. This is one of the maddest ideas of the lot.” Lovelock cuts no slack for those championing the cause of bio fuels. He writes in The Revenge of Gaia, “It would require us to burn every year about two to three gigatons of carbon as bio fuel (a gigatons is one thousand million tons). Compare this quantity with our yearly food consumption of half a gigaton tons We would need the land area of several Earths just to grow fuel.”
Does he believe environmentalists are wrecking the environment? “I’m afraid I do,” he glumly responded. Because we know there remain several environmental groups who refuse to embrace nuclear energy as a much-needed solution to the planet’s energy mix, we asked what he would like to say about them. “They are being very foolish,” he quickly shot back. After a pause, he added, “They are living in a dream world.” Like the father figure he is, Lovelock is disappointed but tries to remain buoyant. He wrote in his recent book, “My feelings about modern environmentalism are more parallel with those that might pass through the mind of a head-mistress of an inner-city school or the colonel of a newly formed regiment of licentious, and naturally disobedient young men: how the hell can these unruly charges be disciplined and made effective?”
LOVELOCK WANTS THE WORLD TO GO NUCLEAR NOW
The headline of a recent editorial in a Boston newspaper asked, “Are Pro Nuclear People the New Greens?” We discussed that. “It’s a bit of an old term, really,” he grinned. “Nuclear has been around for more than 40 years at least. I suppose in some countries, like the United Kingdom, you will find some groups are looking more toward nuclear.”
Make no mistake in thinking James Lovelock is anything but Pro Nuclear. His quote adorns the top of the front page of the World Nuclear Association’s website, “There is no sensible alternative to nuclear power if we are to sustain civilization.” Rightly so, the trade association refers to their proponent as the “preeminent world leader in the development of environmental consciousness.” In his book, Lovelock writes, “There is no alternative but nuclear fission until fusion energy and sensible forms of renewable energy arrive as a truly long-term provider. Nuclear energy is free of emissions and independent of imports from what will be a disturbed world.”
Lovelock briefly analyzes the value and harm of each energy source in The Revenge of Gaia. He has a burning disgust for coal mining, and finds carbon-based fuels inefficient and dangerous, not only to humans but also to earth as a self-regulating system. He has frequently warned that renewables are insufficient to meet our planetary energy needs. In contrast to renewable advocates Amory Lovins or Senator Hillary Clinton, Lovelock sees little value in the immediate future for either solar or wind energy programs, and has harsh words for them, writing, “It will fail and bring discredit both to the greens and to the politicians foolish enough to adopt renewables as a major source of energy before they have been properly developed.” He believes their renewable energy solutions might only hasten our civilization’s demise.
Because Lovelock strongly opposes widespread mining, and because nuclear power depends upon the mining of uranium, how does he feel about uranium mining? “I don’t think it matters because it will never be a very big operation,” he replied. “When you consider the ratio of the energy produced from uranium compared to coal, on a ratio of millions to one, the quantity of uranium being mined is trivial compared to coal mining.” We explained to Dr. Lovelock how U.S. uranium companies replaced conventional mining with In Situ uranium recovery. Lovelock thought the In Situ is “a good idea because it mobilizes the uranium with the oxygen in the water and doesn’t make a god-awful mess of the environment.”
CALLS NAVAJO NATION URANIUM BAN ABSURD
Because of our coverage regarding environmental developments in New Mexico for companies such as Uranium Resources (OTC BB: URRE) and Strathmore Minerals (TSX: STM; Other OTC: STHJF), we talked about uranium mining in that state. Given that it was such an odd event, we discussed the Navajo Nation ban on uranium mining in the four-state tribal reservation area, called ‘Four Corners.’ Puzzled ourselves by this, based upon the latest scientific developments of the in situ uranium recovery method, we discussed an earlier conversation we had with Dr. Fred Begay.
This past November, while visiting Los Alamos National Laboratories (LANL), we had asked Dr. Fred Begay about the new face of uranium mining. Dr. Begay, who is both a nuclear physicist and a Navajo, was continuing his affiliation with LANL by conducting community out-reach programs on the Navajo reservation. He told StockInterview, “The Navajo don’t get it. They have illiteracy on mining and uranium.”
We asked James Lovelock what he thought of the Navajo uranium ban in the context that the tribe also receives about $100 million annually from coal mining royalties. “Had there been no mining at all in the Navajo Nation, and they wanted to keep the deposits pristine as part of a natural ecosystem, I could understand their rejection to any mining,” he explained. “But if they allow coal mining, then it’s absurd to reject uranium mining.”
What would James Lovelock say to Navajo Nation president Joe Shirley, Jr. or to any of the aborigine tribes in Australia and elsewhere, which dislike uranium mining? “Very little,” he abruptly replied. Then, he clarified his response. “It’s almost like trying to persuade any religious person that their belief is unfounded. I wouldn’t dream to explain to a devout Catholic that I’m doubtful about the virginity of the Virgin Mary.” He compared it to an article of faith, adding, “They don’t think about it. They don’t know that it is wrong. It is very difficult to deal with people like that.” Does that apply to the average anti-nuclear environmentalist? He explained how he does deal with the uninformed, “The only thing I found effective in this country, the United Kingdom, is to say, ‘Yes, it may be slightly dangerous, but nothing quite so dangerous as global warming. So, we may have to use it to overcome this.’”
CHINA AND FINAL WORDS
One can not talk about 21st century nuclear energy without bringing up China’s dilemma. The world’s largest coal miner and one of the worst air polluters, China is planning the most aggressive nuclear energy expansion program of the past thirty years. “The Chinese government is the strongest government in the world,” Lovelock began. “I have a friend that goes over there regularly to advise the Prime Minister on their environmental problems.” Thus began a classic Lovelock anecdote:
“They say to him, ‘We’re all doing our best to have more renewable energy than anybody else. We are building nuclear power stations, as fast as we possibly can, so as to not add more carbon to the atmosphere. However if we can’t develop the resources for our people, strong as our government is, there will be a revolution tomorrow. We are in no position to stop using the coal resource until we build enough nuclear or other renewable sources to meet our needs.’”
He concluded, “If the Chinese can’t do it, how the heck can the Western democracies do it?” Therein lies what some consider his fatalism about Earth’s health. Is he truly the pessimist some make him out to be?
“Quite to the contrary,” he responded. “I’ve been accused of being a pessimist, but no, I don’t think that way.” Lovelock compared the current threat of global warming to his experiences as a student and young worker, during World War II. “In 1940, we were threatened by invasion by a very powerful enemy,” he reminisced. “Some people threw up their arms in horror and said, ‘There’s nothing we can do.’ But it was a very enjoyable time for those who worked hard and faced the threat.” Britain and Lovelock survived the threat, passing to the next generation what he learned from this experience, “It is terrible to think of Global Warming, but it is nevertheless challenging. It can be quite a wonderful time for a lot of younger people.”
Some have reported The Revenge of Gaia is Lovelock’s last will and testament. We instead read Lovelock’s masterpiece in a different light. Our conversation with Dr. Lovelock led us to believe his book is his sternest warning to the world’s politicians and scientists to speed up their embrace of nuclear energy in order to avert a very possible series of catastrophic events, which may come to us in the decades ahead. He did say there was “a high probability,” but Lovelock never said “definitely.” In this broad difference, Lovelock yet looks into his cup and finds it half full, not half empty.
|
James Finch contributes to StockInterview.com and other publications. Sign up for your free subscription to articles by James Finch by visiting http://www.stockinterview.com Write to James Finch at jfinch@stockinterview.com |
corporate-budgeting
Corporate Budgeting
Writen by Elizabeth Morgan
One of the most important aspects of running a business is handling finances. Being an entrepreneur, you must be able to find ways of getting more value for your money so that you can set aside savings for expansion. One of the most effective ways of handling a company?s finances is to prepare a budget that will include all the expected expenses as well as the revenues that will finance them. Apart from knowing how to prepare a budget, business owners must also know how to make a budget work for them. There are a number of ways that businesses can use budgeting to save money, and a few are mentioned in the following sections.
Purchasing
It is always a good idea to buy your raw materials by bulk so that you will be entitled to discounts. Adding up these discounts results in bigger savings. It is also a good idea to look for closeouts or clearances where items are sold at very low prices. Having knowledge of the best prices in the market is crucial.
Business travel
In going on business trips, you can save hundreds, if not thousands, of dollars if you choose to travel frugally. You can do this by looking for discounts on airfare and hotel accommodations from various sources, including the Internet. For company vehicles, it would be wise to go to a trusted used car dealership where you can purchase used cars that are still in good condition.
Other tips
Other ways to help you save money are recycling and refilling your office supplies. You can use old printed documents as scratch paper. You can also have your ink cartridges refilled rather than buy new ones. Using the draft option when you print documents can also help you save on ink. Another way of saving money is to use refurbished or previously used office furniture and fixtures that are still appropriate for your business needs.
For most companies, it is very important that liquidity is kept at comfortable levels so the business can be sustained. To accomplish this, you need to be good at budgeting.
|
Budgeting provides detailed information on Budgeting, Budgeting Software, Capital Budgeting, Personal Budgeting and more. Budgeting is affiliated with Home Grants. |
how-to-make-the-home-buying-decision-easier
How To Make The Home Buying Decision Easier
Writen by Gregg Hall
Purchasing a home can be a very big decision. There are many things that you need to consider when purchasing a home. Nothing about this process is easy. First you have to decide where you want to be located, and what you want your house to have. A few questions you need to think about are: do we want a garage, how many bedrooms and bathrooms do you want, do you want a basement, and how big of a yard do we want? You will also need to decide which of these items you are willing to compromise on.
If you are serious about purchasing a new house you may also want to start shopping around for a bank where you can get a mortgage that you like. Once you find your house you want to purchase you will not want to waste any time getting moved in.
Many banks offer you the option of pre qualification. With this you will know how much you can spend on a house based on how much your loan can be. Banks take into consideration your income and your debt to determine how much they think you can afford for a house payment. This may be something you want to know before you start getting too excited about a house. You may have a limit to how much you can spend, and this could save you time when looking at houses.
The bank will also run a credit check to see how your credit is. Your credit score is based on how good you are at paying your bills on time. It also allows the bank to see who else you are in debt to and how much you are in debt. This may also affect your loan amount. If you have good credit the bank may be more willing to work with you on a loan amount.
You will also want to check around to see which bank can get you a better interest rate. Some banks can offer better interest rates than others. Your interest rate may also depend on your credit score. You want to find the bank that will give you the lowest interest rate, as this will also affect your payment. Your interest affects how much you actually end up paying for your house by the time it is paid off. You will also need to decide if you want a fixed interest rate or not. Some banks offer you a lower interest rate to begin with, and then increase the rate later on. You will want to check if this type of interest rate has a limit to how high it can go.
Not all banks can offer you the same types of loans. If you would like a first time homebuyer’s loan you will need to talk to the banks that offer this type of loan. They are loans that are backed by government. Loans that are not backed are called conventional loans.
You can also get loans that require no or low down payments. Closing costs are another expense you need to consider. Some banks charge more than others and some offer no closing costs.
You have many things to consider when choosing a bank for your loan. Make sure you do not limit yourself, shop around before you make your decision. Find a bank that is willing to work with you. You need to keep in mind what kind of loan you want, what kind of interest rate and payment works for you, and how much you have for down payment and closing costs.
|
Gregg Hall is an author living in Navarre Florida. Find more about this as well as Shop 4 Mortgage Rates at http://www.shop4mortgagerates.com |
how-to-avoid-overdraft-and-late-fees
How To Avoid Overdraft And Late Fees
Writen by Peter Kenny
If you have ever missed a payment or gone over your overdraft limit then you will know about the expensive fees that you have to pay. One late payment can trigger a fee that puts you over your overdraft limit, hence leading to another fee. If you want to avoid spending money on bank fees then here are some useful tips to help you.
Create a schedule
The first thing you need to do is to create a payment schedule for the bills that you need to pay each month. If you know exactly when and how much your bills are likely to be then you will be better prepared to pay them when the time comes. If there are bills that can be paid at any time of the month, then schedule a time that is most convenient for you.
Prepare a budget
Once you know when and how much your bills are going to be, then you should create a budget to plan how much money you require each month in order to pay your bills. If there are bills that you are unsure about the exact amount, then it is better to overestimate, as this will keep you safely within agreed monetary limits. Creating a budget will help you to spend only what you can each month so that you avoid overdraft fees.
Agree an overdraft
If you regularly go below the amount of money you have in your account, then try and agree an overdraft with your bank. Although agreed overdrafts still often carry interest rates, the payment amounts are much lower and you will not be charged large fees for an unauthorised overdraft. If your credit history is fairly good then you should be able to agree an overdraft level to suit your needs. If you don’t use it then great, but it will be there if you need it and will help you to avoid expensive fees.
Change bill payments
If you have a lot of bills to pay it can get confusing, especially when bills need to be paid at various times throughout the month. If possible, speak to the companies that you are paying bills with and fix a date or two where you can pay most of your bills. This will make it quicker and easier to pay your bills and mean you are less likely to forget.
Online banking
Another way to pay your bills quickly and avoid late fees is to use online banking. If you have queue at your local branch to pay a bill and you are busy then you might not have the time. With banks shutting over the weekend you might find yourself being a few days late with a payment that will cost you money. To avoid this you should use online banking, as you can make payments whenever you want in just a few clicks. This will help you to make payments on time and save you a lot of money in fees.
Talk to your bank
If you know that there is a chance a payment will be made late, you can always speak to your bank about it. If you let your bank know the payment has been sent then they might be able to waive any late fees. Although this doesn’t always work, banks are generally more lenient if they know in advance that a payment will be late.
|
Peter Kenny is a writer for The Thrifty Scot. Please visit us at Current Accounts and Unfair Bank Charges Visit http://www.thriftyscot.co.uk |
3-steps-to-personal-financial-success-part-iii-save-some-money
3 Steps to Personal Financial Success - Part III: Save Some Money
Writen by Gordie Prescott
Obviously, you cannot be a financial success if you don’t have any money or are not living the lifestyle that you envisioned. Question: Do you know what your net worth is? Many people don’t and are afraid to even try to determine what it is. It may just be the one thing to get you taking action towards saving your money.
How Much to Save?
Most say save 10% of your income. I say save more, but it all really depends on how much debt you are currently working with and where you want to be in the next year, 10 years, or by retirement (This should be determined in your goals. Read Part I of this series). If you are looking to retire in 30 years, investing $300 a month at 8% will yield you roughly $440,000. Enough for some to retire on, and probably a whole lot more than where you are currently headed.
What if I have Debt(s)?
If you have debt, it is important to get that debt out of the way. The logic here is that most credit card interest rates are upward of 12%. If you have debt on that card, but decide to save your money in an account earning 5-8%, you are losing money.
So what to do? Save enough for a cushion. Determine how much you may need for quick emergency cash such as $1000 - $2000 dollars, and save this amount. Once there, devote however much you were putting away into these accounts to paying off your debt as quickly as possible.
What Financial Vehicle should I use to save My Money?
Good question. There are many options that will get you where you want to be. When I think about where I want to save my money I think of 8 things:
1. What is my purpose for saving this money? (Very Important)
2. How much of a risk am I willing to take?
3. Will I be able to get to my money quickly?
4. Are there any penalties for getting my money?
5. How much do I want to save?
6. What reputable company should I save / invest with?
7. How much am I able to put aside monthly to achieve this?
8. How long will I be saving for?
I recommend separating your savings into multiple accounts (Christmas savings, car savings, retirement savings, etc.) and for each, make choices that will be conducive to how you will use the accounts.
If you are saving for a car for 1 year, you may want to use a 1or 2 yr CD. If you are saving for Christmas you can do the 1yr CD or use a Money Market account to allow you to get to your money if you have an emergency before Christmas and have to sacrifice some funds. If it is retirement you are saving for, there are numerous annuities, the most famous being the Traditional and Roth IRA which provide significant tax advantages depending on how you use them.
The Next Step: Take Action!
You’ve been given the hammer and the nail. Now it is up to you to drive it home. Take action today! It is important that you are clear about what it is that you want to do, seek professional help (for your money, not your mind) if needed, make a decision, then do it! Become the financial success that you have always wanted to become, today.
