Cheap Living Tips

Emotions and Your Cash Flow
By Greer Lean

They affect the way we spend, the way we save, even the way we use credit!

It probably sounds a bit strange putting these two polar-opposite subjects together, but they do go hand in hand, and we know it all too well.

In today’s society, money is a prominent indicator of wealth, success power, or to go in the other direction, how screwed you may be financially (however it is not the only measure).

For example, for most people, if they are having financial trouble or worries, it’s not usually when they are on top of your game and are really, really, happy is it?

No.

It’s more like negative emotions go hand in hand with financial worry, and positive emotions go hand in hand with financial happiness, and in both cases it can be a cycle…and can even sometimes turn into one of those ‘chicken or the egg?’ circumstances.

Therefore, it can be said that controlling one can mean controlling the other.

If we’re feeling down in the dumps, we can have as many opportunities as we can think of handed to us on a platter, and we probably don’t have the motivation or desire to take advantage of them. This of course has long term cash implications.

Some people also use retail therapy to help themselves feel better, i.e. you’re feeling less than average, so you go down to the local mall and buy yourself one of those brand new iPod Nanos that you’ve been wanting for ages- probably just to distract yourself from your unhappiness…to fill the void.

Unfortunately this is where we can get ourselves into trouble. So this is where you need to stop where you are, and regain your self-control otherwise your payday cash will slip through your hands before you are ready for it to.

Do you have any other things to pay for at the moment? Yes. Can you afford it right now? No, probably not. So put the iPod down, because if you don’t you’ll only end up back where you started…with no cash til payday again.

However if you must still buy the iPod, then at least there are options out there like a payday cash advance so you don’t miss payments on your other bills. You’ll avoid a missed payment on your credit history file, and you won’t have increasing bills lingering over you.

After helping thousands of Australians with their financial problems, we’ve gained great experience and insight into the everyday person’s money problems. We know what it’s like when your wallet is empty.

Our company Payday Cash Loan not only provides payday loans to Australians we also write articles sharing our financial solutions and tips, so you can take control of your finances and reach the ultimate goal – financial freedom.

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How are People (Age 50-Years and Older) Affected by the Financial Crisis?
By Lil Waldner

Pension funds have lost about 5 trillion dollars worldwide during 2008. And the disastrous losses do not stop at that amount because the stock exchanges have started the year with further grave losses. The financial crisis will have a serious impact on the way of life of the generations in an age of 50 years and older. The problems have to be differentiated between following main groups: the critical age near before retirement and the retirement age. The age near before retirement lasts from 50 to the statutory pension age between 58 and 65 years in most of the industrialised countries and the retirement age begins after the statutory retirement from work and the beginning of pension payments.

The risks for the population between 50 and retirement from work

This part of the population lives in an uncertain situation. Most of the pension funds have suffered serious losses. The liabilities exceed the assets of most of the pension funds. Thus pensions could be cut and be lower than expected in the future. This could result in a weaker purchasing power for the next generation that reaches the pension age within the next 10 to 15 years.

If the people have saved money besides the pension funds of their employer or if they do not have joined a corporate pension insurance and rely on other retirement schemes, they also have experienced losses on their assets in stocks, funds or real estate. It is difficult to catch up serious financial losses within a few years.

It makes matters worse if they lose their job a few years before reaching the pension age. They still are not eligible to receive a pension income and they have trouble getting a new job in an advanced age. Some employers might provide them with a compulsory retirement but this kind of schemes always mean a shortage on pension payments.

These people even can lose their own homes if their income does not longer enable them to pay the mortgages on their real estate. The situation gets worse if they have to pay back interest rates and redemption rates on other debts.

How to cope with such a horrible prospect

There is no easy solution:

1. The best and simple way would be to invest about a quarter of the savings in gold. Gold seems to become a durable currency that can be converted in any paper currency if needed. There is no confidence in stock investments and there are doubts in the future value of the money. Many experts forecast inflation.

2. People need to be flexible and even to learn something new after many years of professional experience in order to get another job after they have been dismissed. This will be a very tough task, because jobs get very rare. People are in a favourable position, if they have acquired some practical skills and crafts. There is always a chance to get something to do for people who can repair machines and equipment, can do plumbing, are able to amend cloths, can cook for catering services or care for elderly people. Such jobs could help to gap the time until a person gets eligible to receive a national or corporate pension or both of them. The high time is over for bank clerks and investment bankers. It is better to acquire professional skills that can be applied on a variety of jobs than to stick to a highly specialised profession that skills are of no use elsewhere.

3. Cash is king. People should use the opportunity to use all kinds of tax deferred saving schemes. There is a great choice of such saving schemes that banks and insurance companies of western countries offer. And it is recommendable to save much higher amounts than tax exemption rules provide for. The more savings can be accumulated the better. People should start saving in a young age and intensify it after their children are grown up and educated.

4. Saving money is better than purchasing a luxurious car that consumes much fuel and high maintenance costs.

5. Health insurance is a proven prevention against poverty. Most of the European countries know compulsory health insurance systems. The American should grasp the chances of getting an overall health insurance system.

6. Debts are a dangerous poverty trap. People should budget their monthly consumption according to their income. They should restrain from using loans and overdrawing credit cards and bank accounts.

7. It is favourable to live in own property, either a house or a condominium if affordable according to the regular income. It is recommendable to use savings for mortgage redemption in order to lower the liabilities before the pension age is reached.

How to cope with the financial crisis after reaching the retirement age

Most of the above hints are valid for people who already have retired from work. Only few tips have to be added:

1. It is tough if the people still are compelled to work in order to earn their living because their pension income and savings are insufficient. Some legislation and pension fund rules allow a deferred retirement and subsequently a higher pension income. This opportunity to receive later a higher pension should be used if the labour market situation allows it. It is fine, if elderly people still can work voluntarily. Work also means to join the social live and to interact with the younger generation. It is, however, difficult to find a job for elderly people while masses of younger people line up in front of the labour offices.

2. Flexible people with some skills for crafts might still get paid by doing some work: e.g. either helping farmers during the harvest season or doing some gardening for landlords. They could assist wards at office buildings. They could help if others are on vacation. Baby sitting or pet sitting are also popular occupations in order to generate some side income. More about how to make money can be read at Make Money Tip. The website also offers free tools for personal finance and a link to the best free online course about financial markets.

Liliane Waldner

Liliane Waldner is a business economist. She has attended the board of several public entities companies and pension funds, some of them dealing with the financial markets. Her website is: http://www.makemoneytip.com

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Using Online Sites to Save on Groceries
By Sok K Verdery

Did you know that grocery costs were the second high household expense? If you think about it, it makes sense. How many times a week do you go to the grocery store? Well if you have kids sometimes it’s every day! If this is you then you certainly need to continue reading! Here is how you can save more money on your groceries.

Before you make your grocery list, go online and search for “printable grocery coupons”. Then check out the sites that offer these coupons and see which ones offer coupons powered by “Smart Source”. You will see it somewhere on the grocery coupons page. The reason I say Smart Source is that they are one of the most trusted grocery coupon distributors out there. I don’t print out any coupons unless they are from Smart Source.

So how does it work? Well when you are on a Smart Source powered site, you will see an option to download the coupon printer. Please note that this is not available for Mac users. Sorry. Download the coupon printer. And yes you can trust them. Smart Source is a News Corp company. Once it is downloaded, just follow the instructions.

Now, once the coupon printer is installed, all you have to do is scroll through the coupons and see if any of the items are on your grocery list. If they are, just check the box and click print coupon. It will print it out with its own unique barcode. All you have to do then is have it scanned during checkout and your discount will appear instantly. And don’t worry, these coupons are accepted everywhere.

This is real savings, so remember next time to search for grocery coupons before making your grocery list.

Suggested sites that have SmartSource Coupons: Coupons.com, CoolSavings.com, CouponShack.com

Sok Verdery

Coupon Shack

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Financial Freedom – How to Develop the Art of Bill-Killing
By Benedict Yossarian

Just about everybody wants to be financially free but isn’t doing anything about it. Building wealth is the key that unlocks financial freedom. One path to take in order to build wealth is to nuke all unnecessary bills so you can save up cash.

Habits

This first item is going to hurt the most. Get rid of any vice you have right now. Almost all vices require money and since it is a habit, it can be bad for your health any way you see it. Smoking, alcohol, junk foods, soft drinks, sweets, movies and all things in excess.

You won’t believe how much money you can save by just quitting one or two of these bad habits. Quitting on them will not only save your money, your health and your life; it will also build self-discipline and character to help you mature financially.

Eating out

Let’s use the cheapest and below average reference. Suppose you eat out only once a week, at a low $25 per meal, you are already paying out $100 monthly. And if you spend on drive-through carry-outs three times a week at a minimum of $5 per meal, this converts to $60 in a month. Remember that these examples are in the lowest settings, but nevertheless, $160 a month can be used to pay off some debt.

Cook at home instead and pack your lunch to work. It costs less, tastes better than the greasy fast food stuff and should be healthier. If you can’t totally control the impulse, then at least cut it in half at first.

Grocery list

Without a shopping list, you can just walk down every aisle in the grocery store and get just about everything that pleases your eyes and taste buds. A grocery list can save you up to 50%, additional cash to pay for pesky loans and curbs impulse buying.

This list saves you money that you can see immediately and allows you to prepare daily meal plans in advance so you’ll know exactly what needs to be purchased and roughly the amount of cash required.

Clear out your junk

You probably have a lot of useless stuff hidden somewhere and just getting old. You can possibly pay one or two utility bills with that body-building set (which you’ve never used) stashed somewhere in your closet. You may be surprised that some stuff you’re no longer interested can sell big time in an auction. This can pay off that doctor’s bill that’s been bugging you for months.

Nuke your plastic

Use only cash for all your purchase. Credit cards stay with you after every shopping. Dollar bills disappear when you spend it and you instantly feel the effect once you get short of them.

If you purchase something with cash, you don’t get into debt because you don’t owe anybody anything. You might also think twice about a purchase while you’re holding on to that hard-earned $100 bill.

Putting these various bill-killing techniques and ideas into action will start to slash huge chunks off your existing debts. This will slowly heal your badly damaged credit report and start you on the road to financial freedom.

If you are in financial difficulties Benedict recommends Real Claims for PPI Claims and Wilson Field for Pre Pack Administrations

Article Source: http://EzineArticles.com/?expert=Benedict_Yossarian
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Financial Mistakes to Learn From

By Martin Lukac

In this day and age, there really shouldn’t be any reason to make certain financial mistakes. Do a search of the internet and you will find that there are thousands of articles out there that warn you of the pitfalls of certain choices. Advice for living a financially stable life is everywhere. What are you waiting for?

Here are the most common mistakes that I’ve seen people make. I’ve even made a few of them myself. These are the financial mistakes that you can learn from. You’ve probably made a few of them yourself, they are very common.

Mistake #1: Using that little plastic card to get what you want.

We’ll just start off with the number one mistake out there. This is probably the most common mistake in the country. Almost every person in the US today has a credit card. It is almost like a right of passage when you turn eighteen. There are even people out there that aren’t eighteen yet that have them.

Credit card debt is the fastest way to ruin your finances. It is easy to acquire and difficult to pay off. The minimum balance doesn’t pay off enough of your outstanding balance to help you very much. You will be paying on your balances for decades. Even a $500 balance can take you over a decade to pay off if you simply make the minimum payment.

Add in the interest rate, which rarely goes down. If you miss a payment, you will really be paying the bank. Thirty percent interest is common on a credit card once a payment has been missed. And you only have to miss that payment by a day — which can happen in the mail or processing if you don’t plan ahead well enough.

Mistake #2: Buying more home than you can afford.

With the real estate market in the state it is today, many people are regretting their housing decisions. Adjustable rate mortgages are acceptable loan products for some people. But only if they can afford the maximum rate that the loan can hit if interest rates go up. Too many people only consider that introductory rate. They stretch and purchase as much as they can afford. Then, when rates go up and their rate adjusts, they can’t afford the payment. Add that to a slowing housing market, and you may have a foreclosure on your hands.

If you are going to buy a home, make sure that you purchase what you can afford. Take out a fixed-rate mortgage so that you know what your payments will be. If rates go drastically down in the next couple of years, you can always refinance. If rates go up, you are protected. Try to aim for a 15-year mortgage over a 30-year. It will save you hundreds of thousands in interest. But if you can’t do it, a 30-year fixed-rate mortgage is an acceptable loan choice for the purchase of a home.

Mistake #3: Not controlling your money.

Too many people live paycheck to paycheck. They have no savings. They have no retirement plan. They have nothing to back them up in the case of an emergency. They have no control over their money.

You have to take control of your finances if you want to retire someday. You have to learn how to budget, save, invest and spend. All it takes is a little time. And once you get in the habit, you will notice that your life has more control. You should say where your money goes, not lenders or creditors or anyone else.

Mistake #4: Not saving for retirement.

There are more seniors in the work place now than there were twenty years ago. And even more than there were fifty years ago. If you want to retire with enough money to live comfortably, you have to start putting something back today. Start an IRA. Contribute to your employer’s 401(k) plan. Figure out how much you need to invest and find a way to do it. This is your future. You don’t want to reach sixty and realize that you can’t afford to stop working. There is no guarantee that you will be able to draw social security or other forms of assistance then. What if you become ill and have to retire? What if you get hurt? Prepare for the future. Start saving for retirement today.

Martin Lukac represents RateTake Refinance Rate mortgage marketplace. RateTake matches consumers with multiple lenders offering low Refinance Rates from our network of accredited lenders

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