Thursday, March 31, 2011

Learn from a Money Saving

Staying along with your income and raising your monthly savings is the difficult of all tasks these days. The major reason behind this is the increasing expenses apart from inflation. The expense turns out to be much more than the monthly income hooking up your credit card bills landing up in big trouble with lot of debts and other loans.

This makes the entire situation tensed up and you are left with absolutely no solution to solve this problem. It is when you think about a money saving expert. This can be defined as a person who is a professional in the finance field helping you out of the present situation you are facing. Yet another name given to them is credit experts and they are well aware of handling the situation between debts as well as credits getting you out of the crisis.

Here are a top tips that your money saving expert can suggest for saving some extra pennies by the end of every month. It is very important to understand that pulling at least a single penny out every month can give happiness after several months. This is how you start off in the beginning and slowly you will be able to make it up to the top!

• The problem comes when you spend by swiping your credit or debit card and also when you pay by check. These are the instances where you never keep note or record it and finally forget it completely until you find the amount reduced from your bank account as credit bills or check clearances. Therefore, it is always good to keep a note or record book of the checks that are signed with the amount and also the credit card bills. Keep reducing the amount from your bank account and keep it in your mind so that you know where you spend each and every penny.

• The money saving experts always recommends keeping up a budget for your expense. In fact the more important thing is to stick on to it as there many who prepare their budget but fail to practice the same. It is natural that there are certain instances where you are left with no choice other than to spend when your appliances are ruined or even during a hospitalization. Those are exception cases and even during those stages, you can adjust with other expenditures to keep the budget intact without a shake!

• The toughest thing for us is to say ‘No' to anything that our mind wishes for. If you keep on buying all that you wish for, it is quite natural that one day you will end up with all the things but absolutely no investment at all. So just learn to say ‘NO' and things will turn out to be in order for you in just a few instances.

It might sound difficult in the beginning, as you proceed with it you will find it lot easier and will be able to find more money in your savings! These are just a few tips from the money saving experts, you can figure out a lot more depending on your own living standards so that you save a quite a good sum at the end of
each month.

Tuesday, March 29, 2011


#.1 firstly, empty your vehicle of all items which are not required on a daily basis. Get rid of any rubbish you have accrued (do not forget under the seats, in glove compartment and boot / trunk.)
Clean your dashboard of junk and thoroughly clean the inside of your vehicle. Keep it this way.

#.2 now cleans the exterior of your vehicle thoroughly, not forgetting to wash under the wheel arch area's to loosen and eject build up of dirt.
These first two steps have already saved you fuel on your next trip!

#.3 Now check the tyre pressures on your vehicle (including the spare wheel) and adjust as necessary, this is important for two three main reasons-vehicle handling, excessive tyre wear if pressures are incorrect, greater fuel usage. Make sure you check these on a regular basis. It is amazing how many people disregard their tyres until they LOOK like they need adjusting!.

It pays to check the oil, water and other fluid levels on a daily basis, giving you a heads up early for problems like leakage and making sure that all components are getting the lubricant or coolant required to keep them working to their full potential.
How often do you check?. Optimum performance = optimum fuel usage.

#.5 Do have your vehicle maintained at regular service intervals to keep it in tip top shape, maintaining brakes and exhausts is just as important to fuel economy as your tyres. A well maintained vehicle is operating to the maximum of the manufacturer’s specifications and will perform better. Better performance, less wear, parts functionality at their peak. This will save you cash in the long term!.

#.6 Journey time. This is so easy but often overlooked. Leave earlier on your roadtrip. It is as simple as that. The more time you allow to complete your journey, the more relaxed you will be and the options you choose during your journey will be better. Speed will be reduced, no rushing! Safer, cheaper, less stress. You may add a short time to your trip, but you have saved in every other way!.

#.7 Route selection is important, use the most efficient route tp your destination. The fastest routes are not always the most efficient. The quickest routes are not always the most efficient, trial and error, evaluate your costs for each alternative. At worst you will learn all routes to that destination in times of traffic congestion.

#.8 Sat navs and maps work best TOGETHER!. Learn not to rely on your electronic equipment at all times, the basic skill of map reading from point a - b is both easy and satisfying, satellite navigation equipment frequently makes mistakes in my experience and on many occasions YOU may well already know a better route, after all the sat nav is just a promoted back seat driver!.

#.9 Concentration is paramount whilst you are in control of your cash guzzling vehicle. The more attention you pay to your driving technique, road conditions and all of the above points and the points to follow, savings will be made as you adjust to my fuel saving techniques. Think about your driving and other road users all the time you are behind the wheel adjust and save.

#.10 Acceleration eats fuel however you do it, but the more conservative you are with that gas pedal, the higher your savings!. Its not rocket science, drop your speed appropriately to suit road conditions. Move away from junctions at a steady speed, do not be tempted to overuse this pedal, the harder you push it, the more you are spending!. Imagine it is cash you are spending, the more you depress the pedal, the more you spend!.

#.11 Braking is also important. Use the engine to gear down on manual or stick change gearboxes. It should be a smooth downward transition in speed through the gears as you adjust accordingly down to a reduced speed or complete halt. DO NOT JUMP DOWN THROUGH THE GEARS!. It is not efficient and wears component parts in both the gearbox, clutch and engine.

#.12 Your speed on longer routes should be constant, depending on conditions and other road users. Fluctuations in speed are unnecessary unless you are overtaking and should be avoided. An even regular midrange speed will give greater fuel economy as well as cutting down on wear and tear. Do not be tempted to sit in the fast lane at higher speeds, it sucks money from your fuel tank!.

#.13 Speed limits are there for a reason!. Safety first. Remember most speed limits are a MAXIMUM allowed without breaking the law. Traveling below this speed (as long as you are not obstructing other road user's by moving too slowly) will benefit your fuel economy and save on general wear and tear over the long term in the life of your vehicle.

#.14 Choose the right gear for the situation you are in. Too high or too low and you are not optimizing your drive train to its full potential. Do not over strain the engine revolutions in any gear. Keep your gear changes smooth and well within the parameters of that gear. Listen to the engine noise, if it is straining you are wasting fuel and wearing components unnecessarily.

#.15 All powered equipment in your vehicle adds to the drainage pull from the battery. The more facilities like cd player, lights, fan, air conditioning and heated screens, mirrors and seats in use at any none time put a load on the electrical generating and recharging abilities of the engine. Less power being drained, less cost. All the above add a cash cost to your trip. Minimize your usage and save.

#.16 This is possibly one of the most important. Other road users have their own agenda, they are doing things their way, do not allow them to influence your driving style by bullying. There are many types of driver and the aggressive type that 'own the road' sing from their own hymn sheet with scant disregard for you or anyone else. Focus on all the above points and reach your destination safely and cost effectively, Just because they are hanging in your rear view mirror or tailgating you, DOES NOT MEAN you should change your driving, by the sound of it they should change theirs, on the flip side, never get involved in altercations with them, it is both fruitless and time consuming, been there, done that.

#.17 Premium fuel prices. You know the ones. 'Better fuel economy, more mileage from your fuel.

Forget them, they are a very, very expensive mistake to take on, I have tried them, they actually cost you more from start to finish.
Take notice of all the above and you will save, absolutely no question. Thank you and happy motoring.

Monday, March 21, 2011

Managing Personal Finances For Success

Operating your money and personal finances is not difficult with just a basic understanding of the world of finance. Overcoming emotional stress in stressful occasions with this guide to personal finances, budgeting money, managing personal finances, using personal budget software or seeking finance help online is a critical action. Our financial guide offers great value in enabling you in all areas of money.

Most people don't think of themselves or their lives as a business. But from birth to passing, you are in business for yourself, the business of you. How you choose to run your business is up to you. The same guidelines that apply to running a successful business also apply to leading a victorious life, both financially with your money and emotionally. Stress about money can affect your emotions negatively as well as your health.

Let me give you four important points of our guide from Personal Finances Online, to managing personal finances successfully.

• Take extra effort in removing any emotion like dept anxiety or overwhelm from financial obligations worry over mounting bills and income. Removing emotional responses from your personal finance budgeting will be a work in progress, and you should always remain on guard for over active emotions. Taking emotion out of dealing with your finances will help you come up with positive solutions and solve problems more effectively.

• Managing your personal finances on a regular basis rather than letting the admin tasks mount up is critical. That way you stay on top of where you are at, can change things, and make better decisions ahead of time rather than always being in reaction mode or putting out fires. Avoid decisions that would lead to bankruptcy like over leveraging your loans or taking on financial commitments you don't know how you can pay back.

• Devote yourself to developing greater skill sets like budgeting, planning and even using budgeting software. Managing personal finances like a business is about seizing control of your destiny, both with your finances and your life. Try to be like the great business leaders and attack your future with vigor and enthusiasm. Supervising your finances in this way, with boldness and a belief in their importance can have amazing results.

• Don't be withdrawn to use software to support you with your personal budgeting is a good idea because it contains spreadsheets that have everything in one place. You can see very quickly where your current state it, budget better, plan better, not to mention the time it will save you putting your own spreadsheet together.

The most effective personal finance software provides sufficient user-friendly features, allowing users to manage every aspect of their finances, including accounts, investments, future plans and taxes. Software will provide up to date information on tax laws and stock reviews to help you make knowledgeable decisions.

Bare in mind that proper budgeting of your personal finances is the beginning of good and sound financial management. There are lots of sites online and budgeting software can help you. Of course, this will not be possible without first your determination to manage your financial obligations without getting stressed about it.

Monday, March 14, 2011

Financial Planning Considerations

Death is a difficult time and most people tend to shy away from its potential financial consequences until it becomes too late. Typically people shy away from dealing with estate planning issues as long as they can. Unfortunately, when the time comes, survivors have to make critical financial and legal decisions for which they may not be prepared. Moreover, for a survivor grieving the death of a loved one, the pressures of making haste decisions can be emotionally overwhelming. However, there are steps you can take today to prepare yourself for the death of a loved one.

When someone you love dies, there is a lot of confusion about what happens next for you. Below you will find financial planning considerations that you can prepare for in advance that may help you make important financial decisions when the time comes of a loved one's death, such as concerns over honoring your spouse's wishes and caring for yourself and your family.

Settle your spouse's estate
Dealing with an estate transfer and settlement can be a very complicated process and potentially can drag on for an extended period of time such as a year or more. The estate settlement process includes decisions about the distribution of your spouse's assets and how to handle liabilities such as those that come about from estate taxes. If you are named the executor of your spouse's estate in your spouse's will, you will be responsible for making all the financial and legal decisions related to the estate.

Before you make any decisions, the first step is to obtain a copy of your spouse's will and death certificate. Generally, you will be able to get a copy of the will from your estate attorney that created the document since they usually retain copies. Also, you can get copies of your spouse's death certificate through your state's vital statistics office.

Your spouse's death certificate is important to gain access to bank account information, transfer ownership of securities such as stocks, bonds, and the like, apply for Social Security benefits, and to collect life insurance proceeds and other benefits.

Expenses related to your estate such as outstanding loans, leases, or taxes lower the total value of your estate. Consider having a separate bank account to handle and monitor all of the incurred estate expenses. Make sure to monitor where the money is going and keep accurate records.

Paying off debt
As the executor for the estate, you are required to settle any outstanding debts that are solely in your spouse's name such as credit card balances and other debt. You can contact any of the credit bureaus to get copies of your spouse's outstanding debts. You should also provide the credit bureaus a copy of your spouse's death certificate so that they remove his name from their files. Also, notify all the creditors of your spouse's death to close all credit cards listed solely under your spouse's name and transfer any jointly help cards to your name only.

Distributing property
Every state has a probate process and as the executor you play a critical role in the distribution and sale of estate valuables and properties according to the will and your spouse's wishes. If the will is lacking certain information, the executor would take the responsibility in distributing the decedent's property at his/her discretion.

Paying taxes
Depending on the laws related to estate taxes at the year of death and the value of the spouse's total estate, the executor would need to handle issues related to settling estate taxes, which would be due nine months after the death.

The federal estate tax or in other words the "death tax" is a tax on the transfer of property. The estate tax works in conjunction with the gift tax, which applies to estates also that haven't made proper considerations for the distribution of properties.

However, federal estate tax laws change often. For 2009, if the estate tax on the decedent's taxable estate, plus taxable lifetime gifts, is less than exclusion amount of $3,500,000, the federal estate tax can be avoided. For 2008, that exclusion was $2,000,000 and it is set to revert to $1,000,000 going forward.

Also, depending on the state you live in, the executor of the estate would need to complete any state estate and/or inheritance tax returns. Since this is beyond the scope of this paper, speak with your tax attorney on how to properly file these documents.

Obtaining benefits
Make sure to notify the Social Security Administration of your spouse's death to determine any benefits you are eligible to receive. Survivor benefits can vary depending on factors such as your spouse's earnings, your age, and your children ages.

Many companies provide the surviving spouse with benefits that transfer to the surviving spouse and other heirs after death such as pension benefits, retirement benefits, and the like. You may be entitles to your spouse's stock options, insurance benefits, and other compensation such as unpaid bonuses. Contact the human resources department of your spouse's employer(s) for information on any transferable benefits.

Retirement benefits
There are two common types of retirement plans that offer retirement benefits: traditional defined benefit plans or employer-sponsored plans (defined-contribution plans).

•Traditional defined-benefit retirement plan or traditional pension plan. The employer guarantees a pre-determined regular benefit to the widowed spouse.
•Employer-sponsored retirement plans include 401(k), 457 and 403(b) plans. If your decedent spouse participated in an employer-sponsored plan such as the ones above, you will need to contact the employer to determine what options are available to you for receiving benefits. You might be able to roll over your spouse's assets into your own IRA.
At this point, it may be a good idea to update your beneficiaries of your retirement plans.

Settling life insurance
Life insurance proceeds are typically the biggest source of income that is left to a surviving spouse. You should file to get your life insurance benefits as soon as possible. You should also update your life insurance beneficiaries at this time. Life insurance can have a variety of options for receiving benefits. You should speak with your financial advisor about best ways to receive the life insurance distributions and more importantly on how to invest your life insurance proceeds.

Options for receiving life insurance benefits:

•Lump sum. Receive the entire death benefit in one payment.
•Income provision. Life insurance pays you principal and interest on a specific schedule.
•Life income option. Life insurance company pays guaranteed income for life depending on the policy's death benefit and the surviving spouse's age.
•Interest income option. Life insurance company pays you interest earned from the policy, but keeps the proceeds. This option allows you to name another beneficiary to receive the death benefit upon your death.

Obtain help from your financial advisor
Upon the death of your spouse, it may seem emotionally and mentally overwhelming to tackle any issue that you face. However, you can prepare in advance and lessen the financial stress of distributing your spouse's estate.

A Financial advisor can help you address the issues that you will need to tackle both upon your spouse's death and years afterward, such as budgeting, managing your debts, securing your retirement, investing your assets, protecting your family, and helping ensure that your estate is in order.