Creating Good Spending Habits

Put money in your savings or your emergency fund first. It’s easy to pay those personal loans first or think that you don’t have the cash to save, but by making this the first thing you pay each month, you won’t spend your money elsewhere. Try to have the bank automatically deduct 5%-10% of each paycheck and put it in mutual funds or another type of savings account you can’t access too easily.

Set money goals. If you’re just drifting along with no plan for your money, you are more likely to be living paycheck to paycheck, just because there is no clear reason to save. Set some goals, post them where you will see them, and give yourself a clear deadline. Check back on your goals at least a few times a year to see how you are doing.

Learn more. If you don’t know much about investments, financial terms, financial planning, or personal taxes, make it a priority to learn more. It doesn’t have to be dreary. Many banks host workshops and classes that teach you all you need to know for free.

What To Do If You Don’t Think You Have Cash to Save

Plenty of people think that they have no cash to save and they tell themselves that they will save “later”– when they make more money, when they pay down some of those cash loans, when they have more disposable income. The problem with this attitude is that “later” often does not come. The time to start a savings habit is now. The longer you put it off, the more you will lose in interest and savings.

If you’re telling yourself that you have no cash to save each month, start by creating a budget and by keeping track of all your expenses for one month. Try to identify those small expenses that you make which you don’t really love and wouldn’t really miss. The coffees you don’t drink and the dreary lunch meetings that drain you of cash can be converted into savings. The money you save doesn’t have to be huge. Even if you can save $50 a month by cutting out unneeded expenses that can make a big difference in paying off your personal loans and debts.

If you are really having a hard time trimming expenses, consider asking for a raise and putting the difference into a savings account. You’ll be living on the same amount you make now, sop you won’t miss any cash, but the extra cash each month can really build up your emergency fund or savings account.…

Reducing Clothing Costs

Reducing Clothing CostsFor most of us, clothing is not just a necessity – it’s also a fun shopping experience and a very personal and emotional buy. Unfortunately, that sort of thinking can land you in huge debt. Some people run up their credit cards and take out personal loans to finance a wonderful wardrobe. Some shoppers even take out costly payday loans to buy those must-have shoes and outfits. Here’s how to save cash while still looking great:
Take the emotions out of clothes. Advertisers spend billions of dollars ensuring that you view clothing as an ultimate expression of yourself, but savvy ads mean fashion mistakes as well as money mistakes. Buying that designer bag will not make you look better – buying the right clothes will. If you have a hard time breaking the designer habit, indulge in a wardrobe consultant service for a day. This investment will show you how to buy beautiful clothes without breaking the bank.
Strategize. Clothes are meant to be worn together, and you will have more clothing options with less money if you create a color scheme that allows you to create lots of great looks with fewer individual items. This is a secret French women – known all over the world for their style – swear by.
Look for less expensive ways to buy. Consignment stores and vintage stores sell great looks at a fraction of the price of retail chains. Factory outlet stores and sales can also be a budget-friendly way to build your closet up.…

Debt Bills

Debt BillsIf you have loans a significant amount of your monthly paycheck could be going towards debt bills. In fact, if you have enough debt you could have trouble getting from one paycheck to the next while keeping up with all these bills. If you’re falling behind, payday loans may be a tempting way to pay your bills on time. Before you borrow money to pay for money borrowed, though, consider.

Before you start borrowing to pay for money you’ve already borrowed, make sure that you have a good repayment plan in place, so you’ll just dig yourself deeper and deeper in debt. Consider consolidating your loans, seeking lower cost loans, or doing anything else to make your payments more affordable. Do not take out a payday loan until you take this step, or you’ll be applying a band-aid solution to a serious problem.

If you are faced with a choice between a payday loan and being late on existing loans, check out the penalties. If you wait until your next paycheck to pay your debt bills, how much interest and penalties will you accrue? Compare this to the cost of a payday loan. If the payday loan is less expensive, consider the loan – but only as a one-time solution. Then work very hard to find long-term solutions for making your bills affordable.…

How to Pay Less for Electronics

How to Pay Less for ElectronicsElectronics –- including video systems, gaming systems, televisions and stereos – can easily cost you a great deal of money. Of course, you want to have nice electronics in your home – but you don’t have to pay a small fortune. Here’s how to save big:
Buy technology that is at least a year old. The very newest electronics will always cost more because they are new. In six months to a year, though, this stuff will drop rapidly in value. Plus, every new generation of a technology will be stronger and better, so it really pays to wait a little.
Shop retail stores for information – but check out used electronics and factory outlets. Look at the prices on electronics available at your local retail stores but then compare prices on used electronics and factory outlets. You might be able to find a good deal. Be sure to check out refurbished electronics too – these are electronics that have been returned on warranty and repaired. They are virtually new, often still on warranty, and come with a tiny price tag.
Pay cash. Avoid getting personal loans, store financing, credit card advances or payday loans to pay for electronics. This is definitely an item you will want to save and budget for, since paying extra interest on your purchase will drive your price up further.…


Often, it’s not the big ticket items that really set us back financially – it’s the small decisions we make on a daily basis that really add up. Consider: saving just $5 a day can add up to $1825 – enough to invest or put in an emergency fund. The more you save each day, the better shape your finances will be in. Here’s how to make better decisions each day. Make eating out a treat rather than a daily thing. Most of us grab a coffee on the way to work, eat at a cafeteria for lunch, and get take out from time to time. There’s nothing wrong with this, but it does really add up. Making your own lunch and coffee can mean big savings. Even eating out a few times a year at a fancy restaurant can cost less than daily meals and drinks you don’t really enjoy or even finish. Don’t buy food you’ll waste. Most of us buy food that gets tossed out. It’s throwing your money out! Stop the bad habit by having a small selection of meals you make regularly. This will ensure that you use up the same ingredients over and over, leaving nothing to go to waste. Look out for tiny expenses. The $1 for a paper or a gum makes no sense if you can read the paper online for free or can buy gum for $0.25 at the grocery store to carry with you. Do not pay for convenience. Plan ahead and save.…

How to Create A Great Home While Paying Less for Furniture and Décor

Creating a great and comfortable home is a priority for most of us. A great home is important for entertaining friends, relaxing, and just enjoying peace of mind. While magazines may tell us that we need to spend thousands of dollars decorating and outfitting each room, this is just not true. No one has to take out personal loans or run up a credit card to have a great home. In fact, you shouldn’t have to borrow at all in order to enjoy great surroundings. Here’s how to make a home great on a shoestring budget.

Take your time setting up a new home. Yes, you could go into a furniture store and buy everything new, but this can cost a small fortune. Instead, budget for home décor and buy pieces of furniture gradually. You’ll be able to buy better quality and you’ll be able to avoid debt.

Look to where the bargains are. Most furniture stores have “as is” or “clearance” rooms where they stock floor models and furniture that is slightly damaged. In some cases, the “damage” can be a tiny scratch you can’t even see, but the savings are huge. You can find furniture at 70% and 80% off.

Buy used items. Used bookshelves, sofas, tables, chairs, and lamps cost a fraction of the price of the real deal and in many cases they are a nice quality than you would be able to find if you bought new.

Do it yourself. Sewing your own curtains, painting and framing your own art pieces, and stitching together your own bed skirts mean big savings and a style that is uniquely your own.…