6 Ways to Save Money

In today's economy saving money should be on the forefront of everyone's mind. It is nearly impossible... in my mind, to walk through a store, go to the mail box or even eat a sandwich without thinking about the cost. Unfortunately for me, money doesn't grow on trees. So, it's important that I capitalize on every opportunity to save.

6 No-Brainer Money Saving Ideas That Anyone Can Get Into.

1. Turn your lights off!

It's amazing how many people out there leave lights on all day long. Simply turning your lights off when you leave a room can literally save you tons of money each year!

2. Automate a Savings Transfer

By making savings automatic you can take the guess work out of building that pile of cash you've always wanted. ING Direct is an excellent online bank that gives great rates, have a very user friendly platform and has the best customer service you can find.

3. Dump Your Debt

This one is simple. If you carry a balance on your credit cards or if you owe anyone money and they charge you interest then you are bleeding precious dollars that you could otherwise be throwing into your savings. Debt is dumb and there is no arguing it. Starting a business? Save some cash and build your business as it grows. Want to go on vacation? you may have to put it off until next year so that you can save up and pay cash for it. Anything worth while is worth waiting for, but it definitely isn't worth going into debt for it.

4. Research

This one may not be as obvious, but it is pretty effective. By researching things before you buy them, such as looking for the best price, finding coupons and shopping seasonally.

5. Grow Your Own...

Growing your own food is just plain cool. It is awesome to want an apple and be able to go outside and pick it and have it eaten by the time you get back to the couch.

6. Pay Your Bills On Time

Paying your bills on time saves a ton because not paying your bills on time is expensive. From late payment fees to high interest rates it just isn't financially smart or responsible to pay late.


There you go 6 simple yet profound ways that anyone can save money. Give them a try do your own litmus test and pick a couple... or all of them, implement them and track your savings. Physically take the money that you are saving out of the bank, put it in a shoe box and count it at the end of the month. That way you'll have some concrete evidence that it is working. Then, when you've got all that cash at the end of the month... Toss it into your savings!

Financial Calculators

The internet is full of excellent resources for increasing your net worth and building value with in your personal financial household. Some of these are as simple as calculators, but not just any calculator. Calculators specific to the information that you need to know.

For instance for retirement planning it is essential to have a ballpark figure as to what you will require when the day of retirement comes along. For that I recommend TheRetirementCalculator.org. This is a great site with a very simple approach that's easy to follow and calculate your retirement number.

Head over to TheRetirementCalculator.org today to start off on the right foot with your retirement planning.

Mortgage Rates... Should I Refinance?

At this point in our economy we are experiencing some of the best mortgage rates that we've ever seen. Think back to the 80"s when the rates were in the teens! I mean we're talking about a $1515.52 difference per month in payment! That's gigantic!!

Let me show you how. For both of these example we are going to assume a few things. First, we're talking about a $200,000.00 house. Second, a 30 year term or 360 months. Third, taxes and insurance are assumed at $3000 and $1500 respectively. The difference in the two examples is the rate. The first is today's average rate which is 4.5% and the second is an average from the 80's which was 15%.

When you figure this up at 4.5% you'll have a monthly payment of approximately $1388.37 and at 15% you get $2903.89! That is unbelievable! We're talking about $1515.52 in savings per month! That's $18K a year!! We better be thankful!

So, in my humble opinion today seems like a great time to buy a house or refinance as long as it makes financial sense for you. A few things you'll need in order to make it a good decision are a steady job and the desire to stay in one area for an extended period of time. As always, talk to a professional before you make any decisions as I am not one.

Peace

Unrolling the Blog Roll

Since it's so rainy today, I think it's the perfect day to unroll the blog roll! My blog roll is going to consist of a few personal finance blogs that I frequent because they always have engaging and interesting blog posts that are concise and never disappoint. There's always something to be learned from other people's experiences so I encourage you to check them out and see what you can learn.

Rainy Day Fund

Thanks to the tropical depressions in the Gulf of Mexico, I'm looking out my window right now and it's pouring down rain. I figured what more appropriate subject to write on today than having a Rainy Day Fund.

Conventionally, we call these emergency funds. Emergency funds are with out a doubt the most important accounts anyone should have. The problem with emergencies is just that, they are emergencies. They don't call and schedule an appointment. They don't email you or pop up on your calendar to remind you that they are coming. They just swoop in and land right in the middle of your life and expect all your attention and resources.

There is nothing sexy about having to drop a couple hundy or a couple thou on some unfortunate event that you weren't ready for.

So without further adieu, I will present my recommendation that everyone out there reading this: If you have not already set up a rainy day fund... DO IT NOW! You never know whats around the corner.

Personally, I use INGDirect . They are great! Decent rates, top notch customer service and an extremely user friendly web platform. They don't endorse this site, but I endorse them because I like how they operate. If you use message me I'll send you an email with a link then you can get an extra $25 just for signing up... and I'll make $10... WIN WIN!! Alright! get to it!!

Kicking Off The New Site

I'm the money nerd. A dude with a family. A hard worker. Now, I don't make much money, but I make my money work hard for me. I research, I do my due diligence and hope that through this journey you can learn from me as much as I'll work to learn from you.

The point of this blog is to A: share my ideas and observations about money. 2: Collaborate with other personal finance enthusiast and D: To have fun doing it and make some extra cash in the process. (Did you catch the Home Alone reference? Thanks Buzz!)

If this appeals to you, follow along and tell your friends. I could use the word of mouth.

Stand by for the next post. It'll be a good one.

Peace