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Mar 15, 2014, 9:04:22 AM3/15/14
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Five Ways to Save On This Year’s Road Trip

Posted: 14 Mar 2014 12:41 PM PDT

Five Ways to Save On This Year’s Road Trip is a post originally published on: Everything Finance - Everything Finance - Its all about Money!

60050ff0105e45888e2b1d126f331947Spring break is coming up, which means a road trip for many families. Whether you are going to be driving 5 hours or 20- here are some tips for you to save money and sanity on the road.

  1. Plan Your Gas Fill Ups: This spring, my family and I are planning to drive 6 hours to Arizona from California. We plan our trip around the gas stations as much as possible. This means we fill up at Costco before we leave, and then we pray that we make it to the border of Arizona before we fill up again. The price difference is huge! On our way back, we top off in Arizona again to make sure we don’t have to make another gas stop in California until we get back to our hometown. This saves us probably $35-50, depending on the gas price difference. If you are traveling through many states, this could save you even more money. If you can avoid filling up your gas tank in the costlier states, then you can save quite a lot of money.
  2. Bring a Crockpot: A crockpot on a road trip? You hear correctly. Make one of your crockpot favorites hours before you leave. Then, wrap a towel around the crockpot and store place it in a sturdy spot in the back. When lunchtime rolls around (about 4-5 hours), your meal should still be nice and hot. Of course, this can be done for dinnertime if you are leaving in the afternoon. Use a crockpot liner, paper plates, and plastic utensils for an easy clean up. You can also cook rice, vegetables, and chicken breast in individual foil packs in the crockpot for an easy and mess-free meal idea too. If you plan on staying with family or at a hotel with kitchen amenities, you can use the crockpot throughout the trip or to make a meal for the trip back. Even if you just use the crockpot once during your trip, you can save at least $5 per person. For a big family, this adds up quickly. Don’t forget how much healthier your crockpot meal will be compared to fast food, as well a show much time you can save from stopping and ordering food on a busy day.
  3. Bring a Cooler: You already have so much to pack on your road trip and now I am suggesting you bring a cooler too!? Again, a cooler is worth its space since it can help you save a lot of money. You can pack snacks and drinks that will save you from expensive gas station stops. A cooler is also helpful if you have babies, since you can store already made bottles without worry.
  4. Consider Renting a Car: If you plan on traveling more than 1000 miles for your road trip, renting a car could be wise. You will save money on maintenance of your own car. Also, if the car for some reason breaks down, it will be easy to get a replacement car without charge. A rental car could also be helpful for giving families a little more room for personal space and luggage storage.
  5. Buy Family Passes: Many places offer family passes at an affordable rate. For example, the Association of Science and Technology Centers offers a family pass for over 300 museums nationwide. That means you could visit five or more museums and attractions on your road trip for one price. This will save a lot of money and you’re your trip more memorable.

Road trips can be fun and affordable, they just take a little planning in advance. How does your family save money when you travel on the road?

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Everything Finance

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Mar 17, 2014, 9:03:21 AM3/17/14
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End of Life Planning Isn’t Only a Will and Life Insurance

Posted: 17 Mar 2014 12:23 AM PDT

End of Life Planning Isn’t Only a Will and Life Insurance is a post originally published on: Everything Finance - Everything Finance - Its all about Money!

9f16809f46ab4d6e93ef620372fd76a2 (1)My husband and I got life insurance nine years ago, when our son was just an infant.  My dad died when I was just 15, so I knew how important life insurance was.  Our will, however, was a different story.  I’m a bit embarrassed to say that after dragging our feet for years, we just completed it a few months ago.  I know we took a risk by not having a will in place, so I’m glad that it’s finally done.

However, turns out our end of life planning is not done yet.

Keeping Detailed Records for the Surviving Spouse

Now, with so many records and accounts online, we face a unique end of life planning task that those even twenty years ago didn’t face.  Leaving a trail so the surviving spouse can access important electronic financial information and accounts is essential.

I do the budget in our family, which means I am the one who accesses all of the accounts online.  My husband has no idea where to look for that information.  I do have it all written down, but all the passwords and usernames are in a ragged little notebook I use.  There are no web addresses either; I just know them.  If I were to die before my husband, he’d have no idea how to get into our accounts.  I don’t even think he’d know to look in my little notebook.

If you’re the one who handles the finances, you must write down the websites you use as well as the usernames and passwords.  However, your task isn’t done yet.  You should include in your will where you’re storing the information with all the passwords.  Even more importantly, when you change a password or open a new account, you must update the record.

If you’re like many couples where one spouse handles the every day bills and the other handles things like investing, you both must create this document for one another and update it whenever a change in password is made or a new account is added.

Don’t Forget Social Activity on the Web

Your social presence on the web is another topic to consider.  If  you die, would you like your Facebook page to remain open so family and friends can write on your wall and your children can access the page?  Or, would you prefer that the page gets deleted?  This might be something that you discuss with your spouse beforehand.  Some people don’t like the idea of a Facebook page up and filled with remembrances; others find it comforting.

If you have a blog, what should be done with it?  Do you want it to remain available, or would you like the site to end?

Also consider any other sites you use such as Twitter, Instagram, LinkedIn.  Think about it.  Your electronic footprint is likely all over the web.

Chances are you have probably completed your will and have life insurance, especially if you’re a parent.  But have you taken these other steps?  Should you pass on unexpectedly, the last thing your loved ones want to worry about is figuring out how to access all of your accounts.

5 Programs for First Time Homebuyers

Posted: 16 Mar 2014 09:17 PM PDT

5 Programs for First Time Homebuyers is a post originally published on: Everything Finance - Everything Finance - Its all about Money!

My husband and I have been on the journey of saving for our first house. As first-time homebuyers, we have been starting from scratch in figuring out exactly what it takes to buy a house.

After meeting with our credit union recently, we were deflated and feeling like we’ll never be able to buy a house.

But here’s a little secret: most credit unions and realtors won’t tell you about programs that you can qualify for that are out there for first-time homebuyers.

Here are five programs you should know about that can help first-time homebuyers afford a house.

Neighborhood Stabilization Program

The Neighborhood Stabilization Program helps first-time homebuyers by providing 30 percent of a home’s purchase price up to $50,000. In order to qualify for the program, a family’s income cannot exceed 120 percent of the area median income.

WISH and IDEA

These programs offer a three-to-one matching grant up to $15,000 for families that earn no more than 80 percent of the area median income. Money can go toward a down payment and closing costs. Do an internet search for local workshops in your area to learn more about the programs and how to qualify.  These programs can often be used in conjunction with other down payment assistance programs.

FHA loan

If you don’t have a low enough income to qualify for the programs mentioned above, but don’t have enough income to qualify for a loan on your own, check out the Federal Housing Administration (FHA) loan.  FHA loans have low down payments, low closing costs, and are not as strict with credit requirements.

The negatives are that some home sales will specifically say no-FHA allowed. Also, it’s important to ask about PMI since some new laws require that PMI be added to the life of the loan, rather than until the loan reaches 20% equity. Lifetime PMI—which adds a couple hundred a month to the payment—could translate into the thousands of dollars over the life of the loan.

State-sponsored programs

Every state has specific programs that are meant to help those in that state. The U.S. Department of Housing and Urban Development list all state home buying programs here. Check to see which first-time homebuyer programs are offered for your specific state.

Good Neighbor Next Door program

Are you a police officer, firefighter, teacher or EMT? You may be eligible for the HUD Good Neighbor Next Door program which lets members of these professions purchase HUD homes at 50% off the appraised value. You must live in the residence for three years. Current homeowners cannot participate and you can’t have owned a home within the last year.

This is a really great deal if you’re willing to do a bit of work.

***

Ultimately, there are a lot of great programs out there to help first time homebuyers. You just need to do some digging.

Everything Finance

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Mar 19, 2014, 9:02:15 AM3/19/14
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3 Tips to Save Money on Kid Clothes

Posted: 18 Mar 2014 08:55 PM PDT

3 Tips to Save Money on Kid Clothes is a post originally published on: Everything Finance - Everything Finance - Its all about Money!

0b643b1fff4a4a0a86504b84b9618bfbThe cost of raising kids is a hot topic, and one covered at ad nauseam.  Can raising a child really be as expensive as they say – i.e. almost a quarter of a million dollars by the time they hit seventeen? Many stats show that on average parents spend $600-850 per year on just clothing alone for their children. That is ridiculous – even for teenagers! Here are three easy tips to save money on your children’s clothing budget.

  1. Just Have Less: This tip goes against the grain, but what if your child (and us, adults, for that matter) just had less clothing? This is definitely easier to get away with if your children are under 8, home schooled, or wear uniforms. Usually around the age of 8 or 9, many kids dress to impress their friends – or at least dress so that they don’t get made fun of. However, if you do have a younger child, try limiting their wardrobe to eight outfits. Of course, you should have a few pairs of pajamas and a special occasion outfit in their closet too. By having less, you have less laundry to do, your kids have more space in their rooms, and you save more money. This may seem extreme to some families, but if you cut your child’s wardrobe size by at least half, I bet you will see an improvement in organization and by how much faster laundry day goes.
  2. Buy Second Hand: Most of my toddler’s outfits are hand me downs or bought used. It is nice to be able to buy higher quality fashions, such as Baby Gap, Gymboree, and Converse for what most pay for Walmart brands. If you are picky about what you buy second hand, then you will end up with great pieces that are in good condition even when your child is done using them. I think it is very important to have quality clothing for your children, since they are more cost efficient in the long run. I find it wiser to buy quality brands at used prices than cheap brands at new prices. Let’s be honest; kids are messy. I am much more forgiving and easy going when my toddler completely ruins an adorable Gymboree outfit because I know that I didn’t lose a lot of money (of course, I would prefer for all of her clothes to stay pristine, but I have to be realistic too).
  3. Buy Out of Season, Ahead of Time: If used clothing grosses you out, or perhaps it is too hard to find good pieces in your child’s size, then you can still score new clothing for great prices. The main purpose is to shop out of season. This will not work for everyone. For example, my little bug was born in the summer, so I clearly expected her to be in 18 month clothing by the time she was 18 months. Even now at 21 months, she is still in 12 month clothing! So I ended up with a lot of pieces that were never worn. However, I have done this method for Christmas gifts for my nieces and nephews. I shop the after-Christmas clearance of Children’s Place or Gymboree with a big coupon code, free shipping, and Ebates. Last year, I bought clothing gifts for ten kids for $50, or $5 a piece. I enjoyed a stress-free Christmas too. Now that it is March, you might still be able to find greatly discounted fashions leftover from winter at your favorite store. Just buy the size you think your child will be next winter. Chances are if it doesn’t fit, you will be able to gift it to someone you know or sell it for at least the price you paid.

Kids grow fast, and it can seem like you are continually shopping for new clothes for them. Try these three tips to save some money on their wardrobes. You should be putting the money into savings for when they are teens and truly care about where their clothes come from.

This post contains affiliate link

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Mar 21, 2014, 9:01:46 AM3/21/14
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Money Management For Playing at the Casino

Posted: 20 Mar 2014 10:20 PM PDT

Money Management For Playing at the Casino is a post originally published on: Everything Finance - Everything Finance - Its all about Money!

gamblingIt might seem counter intuitive to mention money management and casino in the same sentence, but there truly are ways that you can enjoy gambling without completely destroying your budget or developing bad habits.

Here are some examples:

1. Make it Your Entertainment

Every budget should have an entertainment category because there’s going to come a point where you want to see a movie, go to a baseball game, or play at the casino. Entertainment categories allow you to enjoy your fun guilt free. As long as you knowingly plan for the expense, it’s a simple way to have a little bit of fun. Plus, if you lose all your money at the casino, you were expecting to spend it anyway. If you double your money, you can have a little bit more entertainment funding to play with the following month so it’s a win win!

2. Go Cash Only

Sometimes the structure of putting gambling in the entertainment section of your budget isn’t enough to convince people not to overspend. I understand that it can be really easy to get caught up in the excitement of the casino, and before you know it, you don’t have any concern over categories or budgets! After all, who wants to worry about that when they are out having fun? So, the best way to combat this is to go cash only. Bring $100 with you to the casino, and that’s it. If you lose it on the first hand, you should stop playing. If you win a little bit, then you can keep going – simple as that!

3. Always Go With Someone

Gambling should be something you do with a friend or a spouse for fun and only every now and then. If you start to feel like going by yourself, that can often lead to an unhealthy addiction. Just like you should never drink alone, you shouldn’t go to the horse races or the casino alone. It should be a group activity that’s purely for entertainment, not for sustenance!

4. Limit Alcohol

Alcohol and gambling sometimes go hand in hand. It makes it hard to resist those extra drinks, especially if casinos are providing them for free. They do this, though, to help get your loosened up and cloud your thinking. The more alcohol you have in your system, the less likely you are to overspend or make poor financial choices. So, if you do go, one or two drinks is fine, but try to go just for the experience of playing black jack or poker and not to get intoxicated.

Ultimately, there are many ways to go to the casino and gamble that are healthy and involve a nice dose of money management. From planning the expense to only bringing cash, you can ensure that you have a great time out on the town without all the nasty surprises of a high credit card bill latee.

Do you enjoy gambling and going to the casino? How do you make sure to prevent bad habits and have fun all at the same time?

Everything Finance

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Mar 22, 2014, 9:02:06 AM3/22/14
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Money Tips for College Students

Posted: 21 Mar 2014 01:50 PM PDT

Money Tips for College Students is a post originally published on: Everything Finance - Everything Finance - Its all about Money!

college moneyWhen I entered college, I was ready for college life: school, working part-time, and the parties that go with it.

But what I wasn’t prepared for was how to manage my money in college.

Suddenly, your parents are no longer around to manage everything and you’re sort of thrown into the big bad world with a credit card and not much else.

While it can be tempting to blow your money on clothes and booze, the reality is that the sooner you adopt sound financial practices, the better off you’ll be in the long run.

You can still be young and reckless without wrecking your finances. Here are some great money tips for college students that I wish someone would have shared with me when I entered college.

Pay Your Credit Card in Full

Don’t think of your credit card as a limitless piggy bank that you can continue to borrow money from. Eventually—one way or another—that money will need to be paid back.

I don’t advise completely against getting a card, because it is a great way to establish credit history. However, pay your card in full every month. In fact, something I still do today is to pay my card daily or weekly. I’ll make purchases on my cards to rack up points, but will deduct the money from my checking as soon as I get home. This way I get the points, and I don’t find myself in a financial mess.

Student Loans are Not Free Money

Sometimes, I would end up receiving a check worth several hundred dollars from my college that was overage from my student loans.

I wish, I wish, I wish I had been wise and put that money back toward my loans. Instead, I’m sure that those few hundred dollars cost me thousands when you include interest after it took me almost seven years after college to pay off my loans.

Take the smallest amount of student loans that you can manage.

Get to work

Prepare yourself for the real world by working through college, and working as much as you can in the summer to save up for books and extras. Spend half, save half.

You most likely don’t have very many overhead costs, it is completely possible to save as much as you can from your paycheck to pay for college costs. You’ll be way ahead of the game of your peers who graduate with thousands in debt.

Buy Used

Buy used everything. Yes, I’m talking about books and supplies, but also I’m talking about everything else.

Need a car? Buy used. Need clothes? Thrift shop it. Furniture? Buy from a graduating senior.

College is most likely going to be the last time in your life where you really don’t have to worry about appearances. You may not be rocking the newest car model and you may not feel as cool driving a beat up clunker, but you’ll be so ahead of the game when you’re not worrying about car payments or how this is affecting your longterm finances.

***

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