Posts Tagged ‘finance’

Costly Car Insurance Mistakes

In our lifetimes we are expected to pay tens of thousands of dollars on car insurance alone, making it one of the largest expenses that we will have to account for over the course of our lives. What this means is that if you are not doing your utmost to find the best car insurance deal available to you, then you could be literally throwing money away on unnecessary payments.

Signing up to a new car insurance policy is not always about finding the cheapest possible quote, it is about being aware of all policy conditions, your particular situation, and knowing what you should be paying for your vehicle. To help you avoid the biggest blunders many people make when searching for car insurance, some tips have been detailed below.

The first and most important point to remember is not to accept the first quote you are given, no matter whether you think it is the best deal you have ever experienced. How do you know how good it is until you have something to compare it against? As a rule you should be looking at obtaining quotes from at least 6 different insurance companies, though the more quotes you get, the better your chances at finding the best deal for you.

The second point is that you should recognize the benefits of increasing the size of the initial excess you have to pay in the event of an accident. If you opt for a larger excess, then your premium will be reduced. The only problem with this is that you will need to make sure that if something were to happen, you have the funds to cover the initial cost.

Remember to fully consider the benefits and constraints of choosing fully comprehensive, or third party only cover. While many people choose to go for a third-party only policy for older vehicles in a bid to save a bit more money, if you can not afford to buy a new car in the event of an accident, why choose this option? This could be a decision that will put your situation at risk, just to save yourself a few dollars.

Finally, the most important thing to be aware of when taking out a new insurance policy is to remember to give the correct information about your vehicle and situation and to notify them of any changes made to your vehicle that is other than standard. Some seemingly minor changes made to a vehicle will render the insurance invalid and if you were to have an accident, your insurer would not pay out, leaving you with a huge bill and possibly a court case.

Now Try – Multi Car Insurance

Be the first to comment - What do you think?  Posted by Money Guru - August 13, 2011 at 7:15 pm

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Creating A Financial Plan And Dealing With Family Finances.

It goes without saying that for most persons creating and establishing a budget might seem awfully demanding. Particularly this can be problematical for folks, who have difficulty with regulation and identifying their family’s prioritie. But, even if this task seems too complicated to manage with, still, you need to try.

To start with it should be pointed out that there are a lot of resources existing out there that will help you get organized and to help you get on the right financial path. You should just make a scrupulous online research and you will find plenty of info about budget planning. Besides, you will find many online tools that will assist you to plan your family budget.

Here are some budgeting tools you will find online:
1. Online budget planners.
2. Downloadable budget planners.
3. Savings planners.
4. Calculators.
5. Guides for managing family finances.

To go into more details there is a need to point out that you can also check with financial counselors at various institutions and organizations. These are real experts in their field. They know everything about managing family finances and you can be certain they will help you with budget and savings plans. So, you are not alone and there are people, who are ready to help you.

One of the most significant things for you to take into account while dealing with budget creation is that in spite of the fact that above all it is critical to meet your financial obligations, still you should not forget to set aside money to relax with your family.

That is the reason why you should know some ways that can help to spend less on everyday things, in order to be able to save some money for free time. For example, it is suggested to make use of coupons or purchase store-brand products. This way you will save some money on groceries. You should also know that you may re-evaluate your mobile phone plan, internet, and phone services, because this is a great method to save as well.

To put it differently reducing the money you spend on essentials helps you to leave some cash for holidays, buying board games and other exciting things you and your family take pleasure in.

If you are looking for more family savings tips visit us!

How to manage my finances? If you want to find out the answer to this question, click the link!

Additional information on how to manage finances here!

Be the first to comment - What do you think?  Posted by Money Guru - June 7, 2011 at 5:46 am

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Multi Car Insurance – Advice From An Expert

Car insurance is something that all drivers need to buy. It can be a costly process, but if you are insuring more than one car then multi car insurance could save you both time and cash. Here are some things to keep in mind when buying it. Firstly, you need to find out whether there are any limits or restrictions put in place by your chosen multi car insurer. For example, there might be a limit on the number of cars or the number of insured drivers.

You also need to think carefully about the details of your insurance so you get everything you need. This means thinking about how many drivers you want to insure on each car and whether only certain people will be allowed to drive certain cars in order to keep down the costs, such as if you are insuring young people as this can often be more expensive. It will help you understand what you need much better and avoid any discrepancies with the insurers later on.

You should also make sure you read the terms and conditions of any insurance really carefully. This is true of all insurance but is especially important for multi car insurance as there are more things to consider. The no claims bonus is particularly important to think about. For example, if one person has a crash then it should really only affect their no claims bonus, but you should read the insurance policy carefully to make sure no one else will be affected by another’s mistake.

Whether or not you might want to alter your policy after buying it is another thing to keep in mind. As you will be insuring more than one car, it is more likely that you will want to change one of them before the period of insurance is up so you should make sure that this will be possible to do. Also do some research to find out whether it would be possible to add or remove a driver from the policy after you’ve bought it.

One final thing to keep in mind when buying multi car insurance is how you are going to pay for it. As you will be insuring multiple cars and probably multiple drivers as well, it can be quite costly to pay it as an annual sum, so in order to help you manage the financial commitment more easily it could be a good idea to ask your insurer if you could pay in monthly installments instead to make sure nothing goes wrong with your coverage.

Now Try – Multi Car Insurance

Be the first to comment - What do you think?  Posted by Money Guru - May 28, 2011 at 6:30 pm

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Family Cash Saving Tips That Actually Work.

Almost each family struggles in our time to save some money. They have different purposes, but ways are the same for each of us. So, if you have made a decision to start saving money and you are ready to take the first steps, it is time for you to learn the next hints that will help you to reach your goal more efficiently and faster. You and your spouse should dedicate and hour or two and:

(a) Review services that are not used by your family.
You should assess your monthly expenses. Very frequently it will turn up that you pay too much for cable television. Sure, I am not talking here about that you should refuse to watch cable television at all – but you may consider stop paying for some premium channels you do not watch.

(b) Cut unused entertainment expenses.
Most of individuals believe that they are frugal in the entertainment area. They are taking advantage of Entertainment book and free events, as this way much of the entertainment ends up being complimentary or low cost. Still, it should be mentioned that this issue is significant. Just think about monthly movie costs. Usually, if you do not make use of a free movie in some weeks (and this is a pretty common situation) – you will just lose your money and pay for nothing. So, you may consider looking for another option that will allow you to pay for service only when you make use of it.

(d) Take into consideration phone bills.
You should also know that it is critical to scrutinize your cell phone bills. In some cases people will note that they do not use their full amount of minutes. If this is your case it is suggested to call your cell phone carrier and ask for discount ideas including corporate and school discounts (if your son or daughter studies at college). Needless to say that changing your plan to a more cost-effective one you will manage to decrease your communications expenses by around 15% – so, you will save more money.

Following these simple recommendations will help you to start intelligent saving. As you can see, this process is not as problematical as it might seem at first – you should just consider your monthly expenses and try to find available methods to cut them.

If you are looking for more family savings tips visit us!

How to manage my finances? If you want to find out the answer to this question, click the link!

Additional information on how to manage finances here!

Be the first to comment - What do you think?  Posted by Money Guru - May 25, 2011 at 2:15 pm

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Start Managing Your Personal Finances During Early Life! Find Out Why It Is So Critical.

It is a generally known truth that effective personal finance management is critical in achieving personal goals and reaching success. That is the reason why every person must pay particular attention to his/ her personal finances. A lot of persons might be interested in the next – When should I start managing my personal finances and why exactly do I need this?

Franco Modigliani, who won the Nobel Prize in the sphere of Economics in 1985, presented the model of life cycle in which he explores the consumer behavior of an individual during the whole life. In the study the scientist considers the possible changes in a person’s earnings and savings.

Franco Modigliani divided the life into two focal parts:

1. Activity. This is a period when a person has a profession and income (which can differ from one place of job to another).
2. Inactivity. This is a period when a person is a retiree.

The first period is rather unstable and incorporates different financial phases. The author also indicates in his work that during this stage personal finances are not very good, since person’s consumption is often too high, to be more correct sometimes it even surpasses the income.

During this phase people use consumer credit through credit cards and usually do not have heritage.

As relating to the next stage, pension years, it should be added that during it individuals borrow finances in order to buy consumer goods, for example cars, real estate and so on, and make some investments. This is when personal finances begin to get better. During this period folks start saving. You should also consider that one more reason is that by that time children are grown up and they leave the family roof, so they become financially free.

At the same time the period of retirement can also be characterized by weakening of personal finance, as incomes decrease and people want to maintain the same way of living. That is the reason why very often people diminish savings and try to satisfy a higher consumption.

The things mentioned prove that you should start managing your personal finances while you are young. Needless to say that this is the best time of our life to start this. Youth is the best time when you can influence your personal finances.

If you are looking for more tips on how to manage finances visit us!

How to manage my finances? If you want to find out the answer to this question, click the link!

More family savings tips here!

Be the first to comment - What do you think?  Posted by Money Guru - May 10, 2011 at 12:45 pm

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8 Practical Money Management Tips For Students

Here are 8 helpful money management tips for students.

1. You need to keep an eye on spending. For this it is handy to make use of a notebook, or some financial software that are available currently. You can not disregard this step because this way you will be able to prevent yourself from getting over your limit at the bank. It should be also added that keeping track of your daily and monthly spending will help you to understand your spending habits.

2. You need to assess and make thorough planning for your personal budget. It is suggested to do this at the beginning of the month. So, estimate how much money you have and plan ahead your potential outlook expenditure.

3. You need to keep your purchasing receipts, since it is extremely critical to evaluate them at the end of the month.

4. You need to avoid non-academic debt. To go into more details it should be added that sometimes you may think that it is a good idea to utilize your parents credit card in order to purchase the most recent gadgets. But, in reality, this is not a good idea. Instead you should concentrate on developing good money skills that will help you to manage the credit card debt in the future.

5. You should prefer buying used textbooks, as they are notably cheaper. After the courses had been finished, you can also sell out the book to other students so, you will learn some money as well.

6. You should join campus activities, such as fund-raising event in order to encourage yourself for learning and managing finance particulars.

7. You should make a decision what exactly stuff you really need and which one you could do without. Before buying anything, you need to ask yourself whether you really need it. You should also know that the extra stuff should be bought only if you have some additional money left for it.

8. The last but not least advice for you to take into account us that you need to practice good spending habits. Unfortunately there are too many students, who love to have beer and cigarettes in spite of the fact they are unhealthy and high-priced. That is the reason why, to make you life healthier and to improve your personal finances it is suggested to start living a healthy way of life.

If you are looking for more college saving tips visit us!

How to manage my finances? If you want to find out the answer to this question, click the link!

More money management information here!

Be the first to comment - What do you think?  Posted by Money Guru - May 8, 2011 at 11:45 pm

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5 Easy-To-Follow Money Saving Hints For Students

Here is how every student can save money:

1) Planning your future is the original step for you to make. And before you do this there are some key things for you to know about:
– It is essential to start planning before you start going to college.
– Do your own detailed research and find obtainable scholarships or grants that you might be eligible for, before you come to a decision to take a loan.
– One more significant thing for you to do is drawing a plain figure depicting cash flow. Make clear your money comes from and how much you usually spend. Start seeking additional sources of earnings.
– It will be helpful for you discover that there is a need to estimate your future expenses on necessities for week/month. Stick to this budget.
– It should be also mentioned that it is critical to set aside some cash.

2) The following recommendations that will assist you to save is watching your dinner bill. There is no need to mention that when you lived with your parents, you might not even care about how much money was spent for food. But now, when you are a student, everything is different. So, now you should stay away from eating at fast food eateries as they rather high-priced. A cheaper and healthier alternative is preparing food at home.

3) Next, it is strongly recommended to use your ID cards to the fullest. So, remember that:
– Student ID cards are given a lot of honor by a number of establishments that are offering special discounts.
– You should look for shops with a loyalty program. If you shop there on a regular basis you will manage to avail their loyalty bonuses.

4) The key idea of saving is spending only what you actually earn. That is the reason why it is always better to use cash as often as possible. Utilize your credit cards only when it is extremely compulsory. This is the best way to prevent yourself from overspending

5) Staying busy is the last but definitely not least advice you should follow to save money. Keep in mind that joing different clubs is not only give you a pastime, but this way you will learn a lot of new, you will meet people, communicate – all these things may be very practical one day.

If you are looking for more college saving tips visit us!

How to manage my finances? If you want to find out the answer to this question, click the link!

More money management information here!

Be the first to comment - What do you think?  Posted by Money Guru - at 11:31 am

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How To Become A Good A Real Estate Investor In Australia

Australia has one of the strongest and most stable housing markets than any other country right now. Amidst a global financial crisis and an unstable economy, the housing market in Australia still appears to be going strong. Statistics show that the Australian house market has been increasing steadily over the past 40 years. Not only is the demand increasing but the property value is increasing which provides more incentive to own and buy property than ever before.

The Benefits of Investing

While some people dream of owning their own home, others dream of owning many homes and reaping the benefits of both owning and investing. There are a variety of home loans available for people with various different credit backgrounds and financial circumstances. The dream of being a homeowner can become a reality for people who never thought they could afford it.

It is because the market is so stable that it is less difficult than it ever has been to qualify for a home loan. Investment property ownership is also becoming more and more popular in Australia because the housing market continues to boom. The criterion for becoming an investor has become less stringent because of the growing demand for affordable housing. There are many benefits to purchasing and owning multiple properties; one being the available tax deductions for property investors. The benefits to being a property investor include:

– Interest deductions

– Tax deductions

– Renovation tax deductions

– The high demand for rental property

– Market consistency

– Other money saving options

Do Your Homework

It always pays to do your research before entering into any financial obligation. While investing in property can be a sound financial move it is best to ensure that you are well informed and prepared to pay the least and make the most from your investment.

– Realize investing is a long term commitment. Most investors will be borrowing a significant amount of money from a lender. You may have to tap into your equity from your own home or another investment to obtain a loan. Usually the amount borrowed may be much higher for an investment property than it would be if you were purchasing a home in which to live. You will have to be comfortable with the amount you are borrowing and be able to have some cushion in the event that you come upon hard times.

– Be realistic. The housing market although it is stable currently has highs and lows. Investing can be a lucrative experience but there will also be hard times, vacant properties, tenants that don’t pay and repairs that need to happen on your properties. Make sure that you are financially sound enough to weather the down times. Remember that you will have to spend money to make money.

– Be informed about the market. You will want to find a way to be well informed about the investment market, keep on top of property values, market and investment trends. It is advisable to take a class, do on line research or find a mentor who can help you understand the market and stay ahead of it and get the most from your investments.

Seek Assistance

There are home loans designed specifically for those that are looking to invest in properties. Just as there are a variety of home loans available to meet the various needs of borrowers looking to purchase a home, the same is true for investors looking for investment properties. The best place to start is to research a credible property investment mortgage broker to help get the process rolling. Someone who specializes in investment loans can assist you with the following:

– Identifying property that is worth an investment

– Researching up to date market trends and information

– Identifying potential investment loan options

– Deciding to invest with a banker or non-bank home loan

– Negotiating interest rates

– Identifying tax and interest deductions

– Purchasing and closing on your property

– Providing sound advice

The potential to be a homeowner in Australia has never been more promising and possible. Many Australians are looking to investing as a way to create wealth, secure their future and get ahead financially. The opportunity to invest in real estate has never been a safer risk that it is in today’s market. Financial analysts would argue that investing in real estate today offers more potential and less risk than investing in stocks, shares and bonds. In order to do so you should have good Australian property market understanding.

Bloggers that are trying to find info about the sphere of retirement investing, visit the site which is quoted right in this paragraph.

Be the first to comment - What do you think?  Posted by Money Guru - at 6:01 am

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Learn How To Handle Your Finance For The Period Of Recession

Managing personal finances during recession is a really hard job for every person to deal with. One of the possible options to make this job easier is hiring a financial guru, but this costs money, so a lot of people do not make this choice. Does this means that you are doomed to financial collapse? Surely, not. There is a solution and you need to find it out now – you should learn to manage money by yourself. In this article you will find some essential hints on how to manage personal finances during tough times of recession.

Tip #1. It is incredibly significant to check your bank account on a regular basis. It should be also pointed out that you need to make all payments on time, as this way you will stay away from the increase of the interest rate.

Tip #2. The daily expenses must be cut to minimum. In other words you need to calculate every single penny you spend and create a clear account.

Tip #3. One of the most fundamental things you need to bear in mind is that credit cards always increase debts. To go into more details there is a need to enlighten that as long as you carry a credit card with yourself, you spend a lot of money on different pointless things that drastically increase your debts. That is the reason why it is strongly recommended to avoid taking your credit card with yourself – keep it away.

Tip #4. The following advice to take into account is that you should not borrow money from anyone during recession. It is very essential to call attention to here that people, who regularly borrow money, only make things go worse. They are sinking in difficulties of recession. In other words it means borrowing money will never help you to come out of recession and achieve financial stability.

Tip #5. It will be helpful for you discover that it is very important for you to try to find some additional income sources. This is one of the most efficient ways to start earning more. If truth be told, it doesn’t even matter if your extra job brings lesser income than a regular one, still – you will earn more and this will help to enhance your financial situation during tough times of financial instability.

If you are looking for more tips on how to manage finances visit us!

How to manage my finances? If you want to find out the answer to this question, click the link!

More family savings tips here!

Be the first to comment - What do you think?  Posted by Money Guru - May 7, 2011 at 5:00 pm

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Stock Market Can Be The Source Of Cash

Making money is the common necessity for all people. If you don’t have the source of cash, it is very difficult to get the things you are willing to have. However, the existence of the source of cash is also not enough to feel satisfied. The amount of money you get regularly should be sufficient to meet your needs and requirements. As soon as you find out that the cash is not enough for you, it is necessary to look for the additional source of money. In some cases it might be better to change the main working place but this is not always easy. That’s why you should find some more ways to get profit. There are those which don’t require lots of efforts on your side. For example, the simplest idea is to bring money to the bank in order to start the deposit account. Such account will bring you income in the form of dividends. It is very convenient for the only thing you need to do is to take your savings and come to the bank you choose. Nevertheless, there are the other ways to earn using the initial investments which are often more efficient than getting the deposit dividends. The stock market may be the better choice for you.

Earning money on stocks is the opportunity available for everyone who is ready to spend some time on it. Note that you cannot go to the definite place and buy some stocks there. The stock market is the ground for broker trades. It means that brokers are the only who have the right to perform the operations in this market. Thus, you will have to deal with them as well. As soon as you find the good specialist, you are able to form the stock portfolio. It is the set of stocks issued by different companies. The stock portfolio is the main source of cash for the stockholder. The income he gets is also in the form of dividends as in case with the bank deposit. On the one hand, the situation seems to be the same. On the other hand, companies that issue stocks understand that the dividends on stocks must be higher than those in the bank. Otherwise, the customers will prefer to start the deposit account instead of buying the stocks and forming the portfolio. Correspondingly, people will soon find it out and stop buying the stocks for it requires more efforts and expenses than starting the deposit account.

If you mange to choose the right stocks to be included into the stock portfolio, you will soon find out that the income you get is rather high. It would be wise to sell the stocks which stop bringing profit to you and buy the other ones instead.

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Be the first to comment - What do you think?  Posted by Money Guru - May 1, 2011 at 3:29 pm

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