New article posted at "Everything Finance"
Everything Finance
New article posted at "Everything Finance" |
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Four Simple Ways to Protect Against Identity Theft Posted: 18 Sep 2014 10:03 PM PDT Four Simple Ways to Protect Against Identity Theft is a post originally published on: Everything Finance - Everything Finance - Its all about Money!
Read Your StatementsLooking at your bank and credit card statements each month is the best way to stay on guard of any mischarges. Most banks and credit card companies are fast to act on fraud charges that are reported immediately. However, allowing the fraud charges to add up and go on for months may put you at risk of being responsible for some of the charges. Make it a point to check your statements regularly. Honestly, it only takes a few minutes each month, but it can save you a lot of grief and money in the long run. Complex Usernames and PasswordsWhen it comes to chat forums or other sites that do not store important information about you, feel free to use a simple username and password. However, for your bank login, shopping logins, and other sites, use a complex username and password. Aim for passwords that are longer, use a mix of lowercase and capital letters, numbers, and symbols. Try not to use a password that is a word found in the dictionary. You can keep track of your passwords with secured password managing apps. Get AlertedYou can get alerted every time a purchase is made on your debit or credit card. Of course, these alerts can get annoying, but they keep you constantly aware of your accounts. The alerts can help you be proactive in keeping your accounts safe. Shred Important PapersThis is such a simple piece of advice, but the problem is that many individuals still do not shred financial documents. Even I am guilty of throwing away junk mail, such as credit card offers, instead of shredding them. Dumpster diving may seem like a thing of the past, but it still goes on today. Invest in a good shredder (they usually have sales for Black Friday), and make it a habit to shred anything with your name, account number, social, and other important information on it. Better safe than sorry! It is easy to think that you will never be a victim of identity theft, especially when you keep all of your cards close by. However, with more and more information online, it can be easier to be a victim of fraud than you think. The four tips are pretty obvious, but are good reminders that we all need to stay proactive in keeping our financial and personal information safe.
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10 Things to Do Now to Avoid Holiday Debt Later Posted: 18 Sep 2014 06:33 AM PDT 10 Things to Do Now to Avoid Holiday Debt Later is a post originally published on: Everything Finance - Everything Finance - Its all about Money!
Kmart made headlines recently as the first retailer to advertise for holiday shopping. While it may seem ludicrous to think about the holidays before the summer season officially ends, it’s actually smart to get started now. In fact, the National Retail Federation found that 40 percent of consumers started holiday shopping before Halloween in 2013. Even if prepping for the holidays makes you feel green, following these 10 tips will help you stay out of the red this shopping season. 1. Sell your stuff. 2. Track flights. 3. Buy discount gift cards. 4. Eliminate excess spending. 5. Stash your savings. 6. Anticipate hidden costs. 7. Consider side hustles. 8. Round up your rewards. 9. Start scouting and collecting gifts. 10. Research layaway thoroughly.
Andrea Woroch is a nationally-recognized consumer and money-saving expert for Kinoli Inc., who helps consumers live on less without radically changing their lifestyles. From smart spending tips to personal finance advice, Andrea transforms everyday consumers into savvy shoppers. She has been featured among top news outlets such as Good Morning America, NBC’s Today, MSNBC, New York Times, Kiplinger Personal Finance, CNNMoney and many more. You can follow her on Twitter for daily savings advice and tips.
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5 Retirement Mistakes to Avoid in Your Twenties Posted: 20 Sep 2014 09:21 PM PDT 5 Retirement Mistakes to Avoid in Your Twenties is a post originally published on: Everything Finance - Everything Finance - Its all about Money!
Besides, aren’t your twenties the time when you should be traveling, being care-free, and living it up at the hottest restaurants and nightclubs? While you may think retirement is some far off goal, it’s important to not let it go by the wayside. Here are five retirement mistakes a lot of 20-somethings make—and you should totally avoid. Not Investing NOW Refusing to invest money now because you think retirement is too far away to worry about is a big mistake. Retirement will be here before you know it, and thinking that you’ll have enough property or funds to get through retirement is just not smart. It’s important to start saving now, no matter how little you can contribute. Thanks to the power of compound investing, your most important asset right now is time. Your money has plenty of time to grow and compound until you retire. Not Receiving the Full Company Match Many companies will offer you a match in a 401(k) type investment vehicle. A company match is essentially a bonus the company gives you as a reward for being prudent and investing in your own future. For example, if you invest 3% of your annual salary, the company will add an additional 3% into your 401(k), giving you a total of 6% into your retirement savings. Not bad! Not Investing Until You Make More Money Many young people always assume they don’t make enough money to put anything toward retirement. My first paycheck from my first full-time job out of college was $800 after taxes. Even then, I still managed to contribute enough toward my 401(k) to receive the full company match. If you sign up as soon as you get your job, you won’t even notice the money is missing. Not Being Aggressive in Your Investments When choosing an investment portfolio, there is no need to play it safe right now. Choose an aggressive portfolio. You have plenty of time to weather the ups and downs of the stock market. You can play it safer as you get older. Not Diversifying Don’t stick to only one investment. As the saying goes, don’t put all your eggs in one basket. Diversifying helps you make sure your investments aren’t all entirely dependent on the fluctuations of the stock market. Research different opportunities, speak to a financial advisor, or talk to your retirement planner through work to help you figure out the best way to achieve a competent diversified portfolio. |
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Selling at Your Local Kid’s Consignment Sale for Profit Posted: 22 Sep 2014 10:23 AM PDT Selling at Your Local Kid’s Consignment Sale for Profit is a post originally published on: Everything Finance - Everything Finance - Its all about Money!
Is It Worth 65%?Most consignment sales give you 65-70% profit on the sale of an item. This means, that if you sell a baby item for $100, you will only be seeing $65-70 of it. I keep this in mind with whatever I sell. For example, if I want to make at least $85 for a breast pump, then I would have to price it around $130. If I know that the pump will not sell at $130, then I spend my time listing the pump on Craigslist for $85 instead. Keeping this in mind allows me to get the maximum price for each item. Sell in BundlesAnother way I try to get the most money is to sell in bundled lots. I put books of the same series together, as well as similar sized baby clothes/kid clothes and styles together. My bundles sell quicker than my single items because I think every parent loves to find a bundle deal rather than picking through each and every item. Also, bundle items save me time because I can just price a set of ten books rather than price ten books individually. Buy Cheap MaterialsMaterials to price and make your items look nice can get costly. I buy all of my batteries and zip lock bags from the .99-Cent Only store. My husband figured out that when a toy dies, he sometimes has to only replace one or two batteries, instead of all of them, for it to work again. Ask your local dryer cleaner if they give out extra wire hangers for free or at a very good price. I know with my local consignment sale, they often sell supplies very cheaply too, you just have to be one of the first to claim them. Should You Volunteer?Most consignment sales offer volunteer position for the chance to earn an extra 5% profit on your sales. Is this worth it? It really depends on how many items you have. One season, I did about $690 worth of sales. If I didn’t volunteer, I would have made $448.50 after the 65%. Instead, I volunteered for a few hours and made $483. I also volunteered to get into the sale early. Since I volunteered, I made an extra $34. If I had brought less stuff to the sale, I might not volunteer because the extra profit would have been a lot smaller and not worth the time. Should You Donate Your Items?Many consignment sales allow you to donate your items at the end of the sale too. Instead, I try to make the most of my items. If I have a lot of good stuff left, I will pack it in a bin and save it for the next sale. It is already priced and my consignor number doesn’t change, so there is no extra effort on my part. If something goes through two sales without selling, I will either mark it down or put it in a garage sale for a smaller cost. Finally, if those items still do not sell, I donate them and write it off on taxes. Since I did this as a side business a few years ago, I had a lot of stuff, so it was worth it to go through that process. If you only have a few items left, then it may just be worth it to you to donate them. Later this week, I will post about how I actually make a profit at the consignment sales. These tips should help you get started though! |
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Posted: 25 Sep 2014 05:01 PM PDT 5 Ways to Save on Gas is a post originally published on: Everything Finance - Everything Finance - Its all about Money!
At some point, I felt we took it to drastic measures, like when we downsized from a one-bedroom apartment into a studio loft with our dog. But it had to be done. These days, we’re living much more comfortably in a two-bedroom townhome, but we still like to keep our expenses to a minimum, so we don’t turn on the AC all the time, we meal plan, and we buy clothing only when it’s on sale. A big expense that lots of people cite is gas. If you live in a city with limited access to public transportation like we do, cutting down on your gas bill can be pretty tricky. But somehow we managed to do it. Four years ago, our monthly expenses on gas were totaling $350 or more. These days, it’s rare to spend $200. That’s a $150/month savings or $1800 a year. Definitely nothing to sneeze at! Here are five ways you also can save on gas. Consolidate errands Schedule out your weekend so that you run all your errands at once. Breaking out your errands into separate trips can really hinder your gas bill. By running errands all at once, you eliminate unnecessary or unplanned stops. Take your foot off the gas Are you one of those people that move your foot from the gas to the brake whenever the light turns yellow? Stop! By keeping your foot on the gas the entire way, you’re reducing your “coasting” time. Your car will still travel if you take your foot off the gas, and it will “coast.” No need to keep going back and forth from the gas to the brake—take advantage of the “coast.” Get Some Exercise Try biking to your local grocery store to get your groceries—it’s a great way to reduce your gas bill and a free way to get some exercise. I started biking to work several times a week and have been able to pro-long my gas tank to last more than two weeks. Stop blasting your AC Common knowledge dictates that if you’re driving on a highway or freeway, to use your AC to reduce wind drag. But if you’re driving on city streets, you should be putting your windows down for some fresh air. Carpool Carpooling isn’t always the easiest option, but splitting up commuting costs with a co-worker or colleague can definitely help ease the gas bill, in many cases by half! Consider asking around and see if you’ll find a willing participant. |
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Struggling on $125K a Year – Really? Why I Don’t Agree with This MSN Article Posted: 27 Sep 2014 12:03 PM PDT Struggling on $125K a Year – Really? Why I Don’t Agree with This MSN Article is a post originally published on: Everything Finance - Everything Finance - Its all about Money!
The family says they are barley scraping by and say that they do not spend their money foolishly. The family also claims that they met financial hardship when their son was diagnosed with a rare eye cancer as an infant, but that was over eight years ago. Want to know what this family is spending each month? Here is the Brada family budget: Mortgage — $2,700. There are some pretty big issues with their budget here. Here are the top three concerns I see: Mortgage and Electricity: The article mentions that the family live in a reasonably priced home. Reasonably priced for whom, Hugh Hefner? In all serious though, the cost of their mortgage and electricity suggests the home is too big for their budget. Right now in the area that they live in, they could rent a nice 4 bedroom home for $1600-1800 month, or they could buy the same sized home for $280,000. A smaller home would mean a smaller electricity bill, as well. Just by going to a smaller home, they could save $100 a month in electricity. Say the family choose to sell their home and rent during the next two years to get their spending and savings under control. This could look reduce their mortgage/rent and electricity expenses to a combined $1800 a month, saving them $1200 a month or $14,400 a year. Wow! Of course selling your home and going to a smaller home is a sacrifice, but it is one that would put them in a better financial situation. I am not sure what other home costs are, but they do look too high (unless this is for home insurance and end of the year property taxes). Credit Cards: They are paying $3000 a month towards their credit cards. This is a huge red flag. The article is vague to what it means they are paying for when they are paying for credit cards. Do they have a huge credit card debt that they are chipping away at? Or are they spending an extra $3000 a month with their credit card which they are misbudgeting? Either way, it it an insane number and it needs to be taken care of. If it is a huge debt, then the family needs to consider debt consolidation or the debt snowball plan from Dave Ramsey and make bigger payments towards the cards to get it paid off quickly. Groceries: My problem with the groceries section isn’t how much they are spending, but how little they are spending. I highly doubt they are spending $150 a month in groceries to feed their family of four. This low number shows more evidence that they are not accurately counting their spending, which could be where their extra credit card expenses are coming from. My point in writing this article is not to judge how another family spends their money. However, if you make more than most of the population and are complaining that you can barley scrape by, then there is something wrong. They could definitely cut down on their cellphone bill and Internet bill for a savings of at least $50 a month, but the biggest issues are the mortgage, credit cards, and student loan. If they really wanted to transform their living situation, they would downsize their home, use that extra money to pay off the student loan within two years, and drastically change their credit card situation. Those three major changes would save them $4900 a month. Personally, I would love the have $4900 a month to live with, how about you? What are your thoughts on the article and the family’s budget? |
