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June 11, 2009

Alternative Ways To Build You Savings

Filed under: Finance — Tags: , — admin @ 9:13 pm

There are a lot of ways to save money. This is good, because everyone has their own ideas… and some saving methods simply do not work for everyone. So, here are a few saving methods that even the most desperate impulse spenders can utilize to build back up that oh-so-important nest-egg. (more…)

May 4, 2009

3 ways to maximize your savings

Filed under: Finance — Tags: , , , , — admin @ 2:28 pm

Are you, like many people today, trying to make sure that you have a little bit of money saved in case something unexpected happens? It is no secret that building your savings is a good idea, but sometimes we find it hard to do this in a consistent way. For example, we often plan to save so much of our paycheck, but then end up spending so much of our savings-to-be money that we don’t even see the point to putting the rest back. Well, believe it or not, even though you have the best intentions to save, that right there might be your biggest problem.

The intention to save is a funny thing, because it is often what causes us to fail when it comes to putting money aside. Here are three ways to not let your intentions get into the way of your savings. (more…)

April 27, 2009

Top 5 ways in which people waste money

Filed under: Tips — Tags: , , , , , , , — admin @ 9:28 pm

These are some things not to do with your money. Here are some of the biggest money wasters that will absolutely cause you to fall short in the long run.

1. Lottery tickets. I do not care how many people claim this is worth it, lottery tickets will take your money in the long run. Unless you are that one in a million person to win it big, save  your money.

2. Eating out. Eating out is fun, once in awhile. But every day is a waste of money. You spend, on average, about four times as much eating out as you would at home. So do the math, and save some money by eating at home!

3. Smoking. Have you seen the price of cigarettes lately? Is it really worth it? Besides, by kicking this habit, you are getting a leg up on your health, which will save you money on healthcare down the road. This habit is definitely a financial disaster in a box.

4. Impulse buying. Impulse buying is not the way to build savings or financial freedom. Look back on all the worthless impulse purchases you have made over the last five years. If you add these together, you could probably buy a hot-dog stand, which you could subsequently use to make potentially more money than you currently make at your job!

5. Gambling. Yes, gambling is fun, but if you are gambling for the sole reasons of bringing home some money, than you will most likely be out of luck. Again, instead of gambling, save up some money and invest in  your own business! You have better odds that your business will succeed anyway than you do at the Casino, and you can mix drinks right at home!

March 21, 2009

Building up your savings

Filed under: Finance — Tags: , , — admin @ 12:44 pm

As the economy grows unsure, it is often wise to keep a nest egg built up so that you have some emergency cash if you need it. Having savings is absolutely necessary to anyone who wants to be fully ready when calamity strikes, when your luck goes sour, or if things just don’t line up. I mean, it would be much cheaper to just spend some savings on a payment that you don’t have money for, as opposed to getting a payday loan or something like that. And then you can just replace the money you spent from your savings.

A really good way to start saving is to pledge a certain amount of money to your savings account every week. Make it a small percentage of what you earn. The key to saving is not in putting aside a huge percentage, but in putting aside a percentage that you can actually keep from spending. So, whether it is one, two, five, or ten percent, pledge a certain amount of money every month to go to your savings, and then don’t touch it… until the time comes when you absolutely need it. Then, you will be very glad that you have it!

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