Sets It - Making Money Online: September 2013

Sunday 8 September 2013

10 Easy Tips To Save Money On Your Home Heating Bills

With energy costs higher than they have ever been in recent history, it pays to find ways to reduce your home heating costs. I put together some tips that are easy, cost effective and will all add up to reduce your home heating bills by a significant amount! You don’t need to be Bob Villa either. Some take just a minute or two. Even small changes will add up to big savings over the course of this cold winter! Here are the 10 tips that I have personally used to save on my home heating costs: 1. Head down to the basement and reduce the setting on your hot water thermostat by about 10 degrees. I wouldn’t go below 120-115 degrees. The adjustment dial is typically a red knob towards the bottom of the water tank. 2. While you are downstairs, make sure you have clean filters for your central air-heating unit. A dirty and clogged filter will force your unit to work much harder and stay on longer as it struggles to fresh air through the clogged filter to heat the rest of your house. 3. Check your air ducts for gaps, leaks or disconnects. If you have any disconnects or leaks in your ductwork, your heating bills could be 25% higher than they need to be if these gaps were sealed. If you can’t do this on your own, hire a professional. This expert can also clean your ducts for added efficiency. 4. Adjust your thermostat a few degrees lower. Believe me, this really adds up. It may not seem like much of a difference to you, but you will notice the difference when you get a lower bill each month! 5. While we are on the subject of thermostats, consider replacing yours if it is not programmable. The reason is, you can set the thermostat so the temperature setting in your house is lower at night than during the day, when you are awake. Also, if you are away at work during the day, you can set it for a lower temperature and have it programmed to start heating the house a little bit before you come home. These aren’t too expensive and are easy to install and configure yourself. 6. Insulate your attic. Heat rises, right? If your attic isn’t properly insulated, all of the heat in your house (and your money) goes right through the roof. Literally! This does require some effort on your part, but following through on this tip will save you a ton of money over the years. Measure the square footage of your attic and buy rolls of insulation, greater than R-13 but no higher than R-30. Wear a mask and gloves when working with insulation because it irritates the skin. 7. Find those leaks and cracks! If you were to add up all of the small cracks and holes in your house, they would probably add up to a small window, wide open, letting cold air in and hot air out. Take the time to find gaps in windows, doors, pipes, electrical and phone lines, your dryer duct and much more. Put weather-strips around your doors and windows. You can buy insulation foam that comes in a can with a straw at the top that allows you to fill in tight spaces. It expands to fill even the smallest cracks. Of all of the tasks, this was the most fun finding and filling these gaps all around the house. 8. Close the vents in rooms that you do not use. I have one room in my house that is not currently in use. I shut the hot air ducts and made sure the windows and doors were properly sealed to limit energy leakage. Why waste your money heating up extra square footage of your house that you don’t even use? 9. Open drapes and shades for all of your windows during the day to let the sun heat your home. In the evening, pull them back down for added insulation. It is amazing how much direct sunlight streaming into your home helps to heat things up. 10. Your fireplace can help and hurt your heating costs. If you are not using your fireplace, make sure the damper is closed. When it is closed, inspect the damper and feel if cold air is still leaking in. If you are using your fireplace, make sure the heating in the rest of your house is reduced or turned off. Taking the time to implement these tips will drastically reduce your home heating bills. You can get most of them done in just one day, but the payoff will last for as long as you live there! I followed through on each one of these tips and the following winter, my bills were about 25% lower, saving about $100 a month! So roll up your sleeves follow these tips and start saving money on your heating costs!

10 Easy Ways To Organize Your Business Finances

Whether you are a new entrepreneur or a more experienced business owner, taking control of your finances can feel like a part-time job. Some simple tips can help you streamline your time, organize your finances and reduce the stress of business money matters. 1. Keep Your Bills in One Place When the mail comes, make sure it goes in one place. Misplaced bills can be the cause of unwanted late fees and can damage your credit rating. Whether it's a drawer, a box, or a file, be consistent. Size is also important. If you get a lot of mail, use an area that won't get filled up too quickly. 2. Pay Your Bills on Schedule Bill paying can be simplified if it's done at scheduled times during the month. Depending on how many bills you receive, you can establish set times each month when none of your bills will be late. If you're paying bills as you receive them, chances are you're spending too much time in front of the checkbook. Although bills may state "Payable Upon Receipt", there's always a grace period. Call the creditor to find out when they need to receive payment before the bill is considered late. 3. Read Your Credit Card Statements Most people take advantage of low interest credit card offers but never read their statements when paying the bill. Credit cards are notorious for using low interest as bait for new customers then switching to higher rates after a few months. Make a habit of looking at your statement carefully to see what interest rate you are paying each month and if any transaction fees have been applied. If the rate increases or a transaction fee appears on your statement, a simple call to the credit card company can oftentimes be beneficial in resolving the matter. If not, try to switch your money to a more favorable rate. 4. Take Advantage of Automatic Payments Most banks offer a way to automatically deduct money from your account to pay creditors. In addition, the creditors usually offer a lower interest rate when you sign up for this payment option because they get their money faster and on-time. Consider it as one fewer check to write, envelope to lick and stamp to buy. Just make sure you record the deduction when the automatic payment is scheduled or you run the risk of bouncing other checks. 5. Computerize Your Checkbook Using a software program is a handy way to organize your finances. Whether it's Quicken(r), Microsoft Money(r) or another package, these easy-to-use programs make bill paying and bank reconciliation a cinch. Computer checks can be ordered almost anywhere and fit right into most printers. Once the checks are printed, all of the information is automatically recorded in your electronic checkbook. Furthermore, many banks have direct downloads into these software packages so when money is deposited or withdrawn, the transaction is entered immediately onto your computer. And, when it comes time to do taxes, it couldn't be easier. 6. Get Overdraft Protection Most banks have a service where, if you run the risk of bouncing a check, the money will come from another source. For a nominal fee, the bank will link your checking account to either a savings, money market, or credit card so the embarrassment of bouncing a check will be avoided. Call or visit your bank to learn about this convenient feature. 7. Cancel Unused Accounts Whether it's a credit card or bank account, write a letter requesting that the account is formally closed. Not only will this improve your credit score, it is a useful way to avoid money from being scattered all over the place. Don't let department stores and credit card companies lure you into opening new accounts by offering favorable interest rates and purchase discounts. It's easy for credit to get out of hand by taking advantage of every credit offer that comes your way. 8. Consolidate Your Accounts If you have several credit card accounts with outstanding balances, try to consolidate them into one. Be careful and check the balance transfer interest rates and one-time fees. Also, make a list of all your open Money Markets, Savings, CDs, IRAs, Mutual Funds, and other accounts to see if any consolidation can be done. Keeping your money in fewer places eliminates all of the guesswork involved and reduces errors. 9. Establish Automatic Savings Create a link from your checking account into a savings account that will not be touched. This can usually be done through the banks and automatic amounts will be transferred over each month. Most people will not put money into a savings account on a regular basis. They may wait until a large tax refund check arrives or some other event to actually deposit money into savings, retirement or other accounts. If you establish an automatic savings deposit every month, your accounts will begin accumulating money faster than you think. 10. Clean up Your Files Make sure your paid bills are organized in a filing cabinet. Keep individual files for paid bills. Go through your files at the end of each year and throw out bills and receipts no longer needed for auditing purposes. Contact your local IRS office to see how long records need to be kept for audits. Usually federal tax return audits can be done three years back but cancelled checks may need to be kept for seven. Consult the Internet for auditing and records-keeping procedures for your state or region. (c) 2005 DebtGuru.com(r). This article may be freely distributed as long as the signature file and active link are included. Michael G. Peterson is the Vice President of American Credit Foundation, an IRS 501 (c)(3) non-profit consumer credit counseling organization that has assisted thousands of individuals and families with their financial situations through seminars, education, counseling services, and, debt management plans. For more information, and free consumer resources visit http://www.debtguru.com.

10 Keys That Every Home Based Business Owner Should Implement For Success

1) Attitude--
One very important factor in running a business is your attitude towards it. You should treat your business like a business.
This is very important whether you work your business full-time, or part-time. A very close friend of mine, who is also a colleague, is a mother of 4 who works her home business around her family. In this case, she has put her family first, and at the same time, still been able to develop her business.She works part-time, but she has a full-time attitude. To put it another way, if you have a lacking attitude, you'll have a lacking income. However, if you have a business attitude, you'll have a business income.
Keeping your attitude in mind while running your business is one of the first steps to ensuring your success.
Being successful working part-time on your business, or working full-time, is more than achievable. However in saying that, it is highly unlikely that working in your "spare time" will achieve you success.
2) The Environment In Which You Work--
Keeping with the attitude principles discussed above, it is necessary to remember that while you are working from home, you should make sure that you have a space to call your own; your own "business at home" office, free from distractions.
Keep the theme going with a comfortable office chair, and a well laid-out and organized desk. Stationery supplies will also be of assistance, so be sure to include the following in your "home office":
- Pens
- Highlighter
- Hole Punch
- Stapler
- Sticky Tape
- Note Book(s)
- A system which will enable you to easily and efficiently store your physical files and documents.
- Ring Binders
- Manillia Folders
Do you have a fast internet connection? If not, consider the use of a broadband internet connection. Anything you do will take a certain amount of time, and your time is a very valuable assest. Faster internet means you will have more time for other things.
3) Schedule--
Dividing up your spare time between your business, your family, or your "significant others" will require a carefully planned schedule. Just like office hours in which you would work, when you allocate time for work, make sure that you work during this time. Equally important is to make sure you have time for other commitments - time with your family, exercising, education, and leisure time are all equally important factors in your life. Its also a good idea to keep in mind why you are doing what you are doing. For example, if you are starting your home business to spend more time with your family, you don't want your work time consuming valuable family time.
With a home business, the only "boss" you have is yourself and your schedule. Lets say for instance that you are working during your allocated work time, and you have unexpected visitors, or people calling you. You have to make a choice; are you really commited to running your own business? Are you commited to business success? Your choices in these types of situations will govern whether or not you have a "business attitude", or a "hobby attitude".
However, you may need to adjust the way you make your choices. This is especially true in a family environment. In this instance, it may be necessary to discuss with your partner and/or children an agreed period of time which is classed as business time, in which you will not be interrupted. It may also help to print or write down this schedule and place it somewhere prominent so as to inform all family members of your work schedule.
4) Describing Your Business--
Make sure that when asked about your business, you are able to describe it concisely; a strong and powerful one or two sentence about your business that someone can repeat easily about describing your business to others. A company slogan or "tag line" can also be invaluable for promoting your business; take the time to create a unique and memorable tag line or slogan.
5) Knowledge Of Your Services Or Products--
You now have your product and your service in which you sell, whether or not you actually use your product or service you sell, it is a wise decision to make sure that your knowledge of your product or service is intimate and well-founded. For instance, if you sell ebooks, then ensure you know the content and the value in which it holds; if you sell software, ensure that you know how it works, "inside and out". In doing so, your reputation will develop as someone who provides quality information about a product or service, and because of this knowledge, you yourself can become a preferred supplier.
However, it may not always be practical to use certain products (as an example, a man may choose to sell wedding dresses), in which case the seller wouldn't be a product or service user, though in saying that, the seller can still have extensive knowledge of the product or services benefits and features.
6) Administration--
It is essential to implement good record keeping practices.
This can include tasks such as consulting a tax advisor who can advise you on the best and most optimal way to set up and store your financial records, as well as which records need to be kept. In addition, your advisor could also recommend record keeping systems which can help you in achieving a more efficient and simpler means of organizing this aspect of your business.
You may also be told advice on the most effective arrangments and set ups for your banking necessities. In doing so, you will most likely be advised to seek out seperate bank accounts for your business.
If you use various logins, passwords, and usernames, it would be a wise decision to keep track and store this various information.
The tools and methods in which you track these are varied; from a simple paper notebook to free and commercial software.
7) Protection For Your Computer--
Your computer houses all your important business data, and is also the lifeline of your business dealings. In saying this, it is vital that you protect your computer.
Pieces of software such as virus scanners, personal firewalls, anti-spyware and adware, and even an email scanner, should all be implemented to help with the protection of your computer.
8) Obtaining A Domain Name--
For any home-based, online business, it is more than just essential to have a domain name for your business, it is vital. There are many domain registrar companies out there. Take your pick.
9) Processing Of Your Payments--
Any online business will need to the ability to accept payments. Payment processors such as Paypal, 2Checkout, and Clickbank, all offer multiple ways to accept payment, including the ability to accept credit card payments online.
As an online business just starting out, this is the most effective, effecient, and economical way to get started in accepting online payments. As your business starts to grow and develop, it may be necessary to look into obtaining your own merchant account for transactions.
Also, it may be worth while taking into account other forms of currency online, such as eGold.
10) Email Accounts--
The more professional and trusted your online home business appears, the more likely your customers are going to do business with you. One of the most easiest and simplest ways to do this, is to use an associated email account. After obtaining your own domain, it is possible to create your very own associated email account.
Final Comments--
In finishing, I'd like to leave you with the following comments regarding the running and owning of your internet business. Conduct your business ethically, ensure that your customers receive the best service, and be proud to put your name to the products and/or services that you sell, and you will soon seen the fruits of your efforts. Taking into account this last statement, and the above 10 key points, you'll find yourself on track to developing a trusted, professional, and sustainable long term internet business.

10 Steps To Save Your Retirement

Many of the brightest and hardest-working marketing and advertising people in the country are obsessed with getting you to spend money and, if necessary, to go into debt to do so. Absolutely all the media that reach you every day are designed to get you to spend money. In order to save money in this environment, you will need determination to withstand the constant pressures to spend now. What is it that separates those who are successful from those who are not? Successful individuals have a strong personal vision of what they want and why they want it. That vision gives them the strength to stick to their strategies even when doing so is uncomfortable. It gives them the determination to persist when they are discouraged. This is the same characteristic of women entrepreneurs and is the reason their new, small businesses are successful. The 401k Plan Today, the 401(k) plan has become the main investment vehicle for working women to save for retirement. But many don’t take full advantage of their plan, and this could leave them with a lot less at retirement. Here are some steps we believe you can take to improve and eliminate any retirement worries about whether or not your retirement will be pleasurable or public charity; or whether you will have all the free time to spend with your family or friends. 1. Increase your contributions to the maximum that you can manage. Many women contribute just enough to take advantage of their employer’s matching contributions, and then they stop. By adding more to your account, beyond the matching contributions, you’ll end up with more in retirement. 2. Invest at the start of each year instead of taking a little bit out of each paycheck. Nothing in the law says you have to invest in a 401(k) plan a little at a time, from each paycheck. By investing early, you’ll put your money to work sooner for your benefit. 3. A few years ago it was reported that more than 30 percent of the money in 401(k) plans was invested in money-market funds or similar accounts. For investors nearing retirement, that may be appropriate. But most workers in their 40’s and 50’s need growth in their retirement investments. Put more of your investment fund in equities and less in money-market funds. 4. Research indicates that over long periods of time, small-company stocks outperform large-company stocks. Since 1926, In the equity part of your portfolio, shift some of your money into funds that invest in small companies. Don’t put your entire equity portfolio in small-company stocks. But consider investing at least 25 percent of your U.S. equity investments in that fund. 5. Numerous studies have shown that value stocks outperform growth stocks. According to data going back to 1964, large U.S. value companies had a compound rate of return of 15.1 percent vs. only 11.4 percent for large U.S. growth companies. Among small U.S. companies, the difference was even more striking: a compound return of 17.4 percent for the value stocks vs. 12.1 percent for the growth stocks. Don’t put your entire equity portfolio into value stocks. But if there’s a value fund available to you, consider investing at least 25 percent of your U.S. equity investments in that fund. 6.Rebalance your portfolio once a year. Your asset allocation plan calls for a certain percentage to be invested in each of several kinds of assets. Rebalancing restores your asset balance and allows for the possibility that last year’s losers may be this year’s gainers. Diluting your diversification actually increases risk in your portfolio over time, which is a result that’s just the opposite of what most investors want. 7.Without compromising proper asset allocation– use the funds in your plan that have the lowest operating expenses. Choose funds with low turnover in their portfolios. 8. Don’t borrow or make early withdrawals from your 401(k) unless that is the only way to respond to a life-threatening emergency. Furthermore, if you take an early withdrawal before you are 59.5 years old, your withdrawals will be subject to a 10 percent tax penalty (in addition to regular taxes) unless you are disabled. Just don’t do it. 9. If you leave your job, you’ll get a chance to roll over your 401(k) into an IRA. Take that chance. In an IRA, you have the same tax deferral as a 401(k), and you’ll have the flexibility to invest in virtually everything you can get in a 401(k), plus much more. 10. Here’s the most important thing you can do to maximize your 401(k): Keep your contributions automatically payroll deducted, and make them no matter what. It’s simple, but it’s not easy. Half of the households in the United States have net worth of $25,000 or less. In a typical year, about two-thirds of U.S. households do not save money. Remember, to be successful, first, imagine your early retirement; the Caribbean condo, the yacht, the new Lexus. Luxury and pleasure as far as your eyes can see. Create a strong vision, and then don’t let go. The power of a clear, strong vision applies to more than just your retirement savings. Let your vision shape your life, instead of the other way around, and all of the time in the world can be yours. You won’t be spending your Golden Years working at the Golden Arches.

10 Tips To Make Sure Your Financial Budget Will Succeed

You’ve analyzed your past expenses, put them into spreadsheets, loaded Quicken with all of your data and come up with a budget. Now what? The tough part! You actually have to stick to your budget and put your plans into action. This is easier said than done. In many cases you will have forgotten about your budget and your financial goals 6 months or a year down the road. How do you keep this from happening to you? Here’s how. Make sure you follow some of these tips below so this doesn’t happen to you. 1. Create a budget with realistic targets – Let’s say one of your budget goals is to not eat out for lunch or dinner on a regular basis. If you are honest with yourself you may find this to be an unrealistic goal. Sometimes it’s a nice break to eat out and have a relaxing rewarding evening. In other words, don’t set the bar too high. Drastic and unrealistic goals are one of the surefire ways your budget will not succeed. 2. Budget for expenses that don’t occur on a routine basis – Make sure you give consideration to expenses that occur once a year, such as holiday presents, birthdays, vacations, weddings, car maintenance costs, etc. These expenses don’t occur every month and they will bust your budget plans wide open. Make a list of these events on a calendar and put a dollar figure to them. Place them in the month they are expected to occur so you can plan in advance how you will pay for them. The regular routine expenses are not the reason your budget will fail. It is these “gotchas” that will wreck havoc on your budget if you don’t plan for them. 3. Put your budget in writing – Take the time to write down your budget plans. Making a mental note of your budget goals is a recipe for failure. Don’t assume that your financial future will take care of itself by making a simple mental note to yourself. If you have your budget goals detailed in writing you can review and remind yourself weekly and monthly of your financial goals. 4. If you have a bad month or week, don’t give up! – Let’s say you have been reaching your budget goals for three months. In the fourth month, for whatever reason, you didn’t reach your budget goals. Maybe you even stopped trying to stick to your budget! If this happens, don’t just throw your hands up in the air and admit to failure. Everyone falls off the wagon sometimes. Your budget is a journey. There will be bumps in the road, so the key is to realize that everyone makes mistakes. This relates to a story I like about a great old time golfer named Walter Hagen. Before each round of golf, he told himself that he would have 4 or 5 bad shots. During the golf round, if he hit his ball into a bunker, he would tell himself, “There is one of my bad shots that I was expecting”, hit the ball out of the bunker and move on. It didn’t phase him one bit because he had knew there would be some bad shots in his round. 5. Adjust your budget over time – This one is a biggie! It can take months or even years to fine tune a personal budget. When you initially made your budget plans, you probably had to guess at some of your figures. They might not have been in touch with the realities of every day life. For example, you may have underestimated your monthly grocery or utility bills. If this happens, analyze all of the underlying money that was spend in this category to see if your initial estimate was unrealistic. If it was, try to come up with a more accurate number and then to stick to that new figure. It is this type of adjustment that is one of the keys to making sure you can stick to your budget. 6. Review your budget every month – This is where you will make any adjustments that are needed. Set aside the first day of each new month to review your income and expenditures and match them to your budget goals. By actively reviewing your finances and comparing it to your budget, you can adjust your spending habits. This gives you a chance to analyze areas that exceeded your budget expectations and make the adjustments in your spending habits or your budget. The goal here is to not forget about your budget. One tip that has worked for me is to put a printout of my basic budget goals on the refrigerator. That way every day, several times a day, I would notice my budget goals sheet. I may not read it every time, but I notice it and it reminds me that I need to stick to my budget. That is why tip number 3 is so important. 7. Set specific short-term goals – Let’s say one of your budget goals is to have all of your credit card bills paid off in two years. If your credit card balances total $20,000 that would be $10,000 a year. Divide that number further into quarterly reductions in your credit card bills, in this case $2,500 every 3 months. Now, this is a more tangible budget goal to shoot for isn’t it? I find that when I divide intermediate and long term goals into short-term tangible stepping stones, I am able to feel a greater sense of accomplishment and am more likely to succeed. This brings us to number eight… 8. Reward yourself – That’s right! Treat yourself when you reach your some of your short-term goals. Since your financial budget is really a journey, take some time to smell the roses on your way. Sticking to your budget should not be a restrictive, unpleasant experience. Not only should you take the time to enjoy your financial accomplishments along the way, but use part of your budget for fun things that you enjoy. Just make sure your rewards don’t end up breaking your budget! 9. Pay yourself first – I’m sure that one of your budget goals is to save and invest a portion of your income. One of the keys to make sure you succeed at this is to do what the IRS does with your paycheck, take it out of your discretionary income immediately. This way, the money is saved away right off the bat. Move the money immediately into a savings or mutual fund account. Many mutual fund companies can setup automatic deductions from your paycheck. Despite your best intentions to save, the hectic, daily demands of life can reduce the amount you are able to save. 10. Attitude is everything – When most people think of a budget, they picture restrictions and pain. Almost like a diet. You know what happens with most diets? They don’t seem work for long! First, if your budget is too strict, too restrictive on your spending, it won’t work either. However, you will need to limit your spending in some areas and this will take some adjustment in your attitude. I found that when I am feeling limited and sorry for myself when I can’t purchase something that I want, I remember my financial goals I set with my budget. I think about the satisfaction I feel when I reach those goals. Over time, you find that you don’t want to disappoint yourself by breaking your spending goals on a spur of the moment purchase. Now, I actually get more pleasure knowing that I am reaching my budget goals when the thought of an impulse purchase crosses my mind. If you follow these tips, your budget plans are more likely to be a great success. By taking some simple steps you will find that living within a budget is not as tough as you imagined. It can actually be fun and rewarding!

10% year growth or your money back

Previously available only to a private trading group, this EA is now publicly
available only from myfxtools.com. This EA has been compared to other EA's in
the market and outperformed every one of them. The key to success of this
system is that it is flexible to changing market conditions.
Some of Point Break features:
Small trades are continuously added above and below the opening position.
The system will pyramiding, hedging or closing some positions depends which way the market moves.
All trades are closed only when a net profit is reached and added to your account balance.
Built in money management will automatically calculate the correct position size for your risk level, and it can be used as a full automatic trading system or use it to create your own trading system.
The main goal of multiple trading strategies is to make the drawdown become
smoother when there is choppy market.
Since Point Break version 4, we invented multiple close strategies. Beside each
cycle has its own close profit procedure, there is additional simultaneous
close technique which close all open positions together on specific rule, this
make the close profit target be reached even faster, and as a result the
expanding drawdown probability become decrease also.
Money Management
The probability is that the maximum largest expected drawdown is about $1,500
(using 0.01 standard lot) with Conservative setting. Although it is not
impossible exceed this drawdown.
Based on the drawdown risk when the cycle ranges become expanding, trading more
than 0.01 lot per $5,000 for standard account is discouraged.
Fortunately, the EA uses automatically money management system that it will
increase the lot size when the profit accumulated. For example when the EA
start with $10,000, it start using 0.02 lots, it will increase to 0.03 lots
when the equity become $15,000.
Average Monthly Return:
5-8% for Moderate Strategy (Drawdown Risk: 30% from balance).
10-15% for Aggressive Strategy (Drawdown Risk: 50% from balance).
We have the utmost confidence in the EA and it has been used to managed forex
accounts for 2 years already. This EA is available in a 30-day trial format,
available from our site, and we guarantee if you dont make 10% a year we will refund your money back.

Learn How You can Make Gains from Using the Forex trading Grid Technique

The most important part of how to make money using the no stop, hedged, Forex trading strategy will now be covered. In the preceding articles in this series we reviewed trading without stops, not being concerned about which way the price moves and places to cash in on profitable transactions. We are now going to show how you would make money buying and selling simultaneously using the grid strategy.
The no stop, hedged currency trading grid system uses the rule that one should be able to close a transaction at a gain no matter which way the market moves. The only way this is logically possible is that one would have a buy and a sell transaction active simultaneously. Most traders will say that doing this is not recommended but let’s look at this in more detail.
Assuming a grid with grid gaps of 100 pips. We are going to use the simplest formation to show the principles involved. This formation is the 100% retractment formation where the price goes up to a grid level and then returns back to the starting grid level. Regrettably things become quite mathematical from here. We are also ignoring broker spreads to keep things simple.
Let us say that a trader enters the market with a buy (buy 1) and sell (sell 1) deal active when a currency is at a level of say 1.0100. The price then goes to level 1.0200. The buy will then be positive by 100 pips. The sell will be negative by 100 pips. Now we would cash in our positive deal and bank our 100 pips. The sell is now however is carrying a loss of -100 pips. The grid system requires one to ensure that the trader can cash in on any movement in the Forex market. To do this one would again enter into a buy (buy 2) and a sell (sell 2) deal at this level (level 1.0200).
Now, for convenience let us say that the price moves back to level 1.0100 (the starting point).
The second sell (sell 2) has now gone positive by 100 pips and the second buy (buy 2) is making a loss of -100 pips. According to the grid trading rules you would cash the sell (sell 2) in and another 100 pips will be added to your account. That brings the grand total cashed in at this point to 200 pips (buy 1 and sell 2). At this stage the first sell that is active has moved from level 1.0200 where it was -100 to level 1.0100 where it is now breaking even.
The 4 transactions added together now incredibly show a gain:- 1st buy (buy 1) cashed in +100, 2nd sell (sell 2) cashed in +100, 1st sell (sell 1) now breaking even and the 2nd buy (buy 2) is -100. This gives an overall a gain of 100 pips in total. We can liquidate all the deals and have some champagne as we have made a profit of 100 pips.
Please make sure you understand the mathematics behind the activities discussed above. You may have to reread and draw the movements on a piece of paper to make sure you understand the concept.
This formation is the 100% retracement formation where the price goes up to a grid level and then returns back to the starting grid level and results in a nice profit for the forex trader. There are many other market movements that turn this strange Buy and Sell at the same time activity into profits. The next article will cover the 50% retractment formation which produces the same amount of profit.
There will be much more on the no stop, hedged grid trading system in future articles in this directory. Do not miss them, whatever you do.

4 Benefits of Long Term Trading vs Short Term Trading

Both short term trading and long term trading can be effective trading strategies, however, long term trading has several significant advantages. These include the effect of compounding, the opportunity to earn from dividends, reduction of the impact of price fluctuations, the ability to make corrections in a more timely manner, less time spent monitoring stocks. 1. Compounding Time can be investor’s best friend because it gives compounding time to work its magic. Compounding is the mathematical process where interest on your money in turn earns interest and is added to your principal. 2. Dividends Holding a stock to take advantage of payouts from dividends is another way to increase the value of an investment. Some companies offer the ability to reinvest dividends with additional share purchases thereby increasing the overall value of your investment. Additionally, dividends are more a reflection of a company's overall business strategy and success than volatile price fluctuations based on market emotions. 3. Reduction Of The Impact Of Price Fluctuations In the long term investment the persons is less affected by short term volatility. The market tends to address all factors that keep changing in the short term. So a person involved in long term investment or trading will not be affected as much by short term instability due to factors such as liquidity, fancy of a particular sector or stock which may make the price of a stock over or undervalued. In the long term, good stocks which may have been affected due to some other factors (in the short term) will give better than average returns. Long-term investors, particularly those who invest in a diversified portfolio, can ride out down markets without dramatically affecting his or her ability to reach their goals. 4. Making Corrections It is highly likely that you could achieve a constant return over a long period. The reality is that there will be times when your investments earn less and other times when you make a lot of money in short term. There may also be times when you lose money in short term but as you are in quality stocks and have long perspective of investment you will earn good returns over a period of time. There are always times when some stocks do not perform and it is the wise choice to pull out of an investment. With a long term perspective based on quality stocks, it is easier to make decisions to change in a more timely manner without the urgency that accompanies short term and day trading strategies chasing volatile changes. Investors that begin early and stay in the market have a much better chance of riding out the bad times and capitalizing on the periods when the market is rising by taking a longer term view using long term trading strategies.

4 Things To Remember When Renewing Your Home Contents And Home Buildings Insurance

Each year when our renewal notices come through the post for our home contents insurance and/or home buildings insurance, most of us automatically sign the form and send it back to the insurance company – after all, we already know how much the premiums are going to be. Big financial mistake, and here are 4 reasons why: Did You Buy Anything New In The Last Year? If you bought anything new in the last year, say a new television or video recorder, then the value of this new purchase will not be included in the renewal notice you just sent off to the insurance company. Likewise, if you sold anything of value over the last year, and have not informed the insurance company, then you are paying home contents insurance for something you no longer own. Either way, your not paying the right amount of insurance premiums. Did The Costs Stay Static? If you have home contents insurance then you are insuring your personal property for the replacement cost of buying the same thing new. On the other hand, part of your home buildings insurance should cover the cost of labour and materials. Now ask yourself, would the cost of replacing the picture hanging in your living room be the same today as it was last year? If the answer is that it would cost you more, tough luck, you’ll only get paid out what you said the cost of replacing it would be! The same can be said of your friendly builder, would he charge you the same for an hour of his time and for his materials today as he would have done last year? If the answer here is no, then you should be expecting to pay him the difference. Did The Value Of Your Home Stay The Same? Similar to the above, with your home buildings insurance you need to be asking yourself whether or not the value of your home stayed the same this year as it was last year? You need to be asking yourself this question even if you didn’t do any work to the house – such as building an extension – that would naturally automatically add value to your home. Is Your House Any Safer Today? Here the question is, have you done anything to your house over the last year that would mean your home would be considered safer today than last year? For example, did you add any deadlocks to your doors or windows? If so, then there’s a very good chance your home contents insurance premium would be reduced, as the security in your house is a major consideration in assessing your premium (along with the crime rate in your neighbourhood, so you may also want to check and see if this has gone up or down also). Keep in mind that time stands still for no man. As such, you need to read your home contents insurance and/or home buildings insurance renewal notices very carefully to make sure that they reflect, as accurately as possible, your life today and not your life of yester-year.

5 Advantages Of Long Term Trading

Both short term and long term trading can be effective trading strategies, however, long term trading has several significant advantages. These include the effect of compounding, the opportunity to earn from dividends, reduction of the impact of price fluctuations, the ability to make corrections in a more timely manner, less time spent monitoring stocks. 1. Compounding Time can be investor’s best friend because it gives compounding time to work its magic. Compounding is the mathematical process where interest on your money in turn earns interest and is added to your principal. 2. Dividends Holding a stock to take advantage of payouts from dividends is another way to increase the value of an investment. Some companies offer the ability to reinvest dividends with additional share purchases thereby increasing the overall value of your investment. Additionally, dividends are more a reflection of a company’s overall business strategy and success than volatile price fluctuations based on market emotions. 3. Reduction Of The Impact Of Price Fluctuations In the long term investment the persons is less affected by short term volatility. The market tends to address all factors that keep changing in the short term. So a person involved in long term investment or trading will not be affected as much by short term instability due to factors such as liquidity, fancy of a particular sector or stock which may make the price of a stock over or undervalued. In the long term, good stocks which may have been affected due to some other factors (in the short term) will give better than average returns. Long-term investors, particularly those who invest in a diversified portfolio, can ride out down markets without dramatically affecting his or her ability to reach their goals. 4. Making Corrections It is highly likely that you could achieve a constant return over a long period. The reality is that there will be times when your investments earn less and other times when you make a lot of money in short term. There may also be times when you lose money in short term but as you are in quality stocks and have long perspective of investment you will earn good returns over a period of time. There are always times when some stocks do not perform and it is the wise choice to pull out of an investment. With a long term perspective based on quality stocks, it is easier to make decisions to change in a more timely manner without the urgency that accompanies short term and day trading strategies chasing volatile changes. 5. Less Time Spent Monitoring Stocks Unlike day trading that can require constant monitoring of stocks throughout the day to capitalize on intraday volatility, long term trading can be carried out effectively using a weekly monitoring system. This approach is most often far less stressful than watching prices constantly on a daily basis. Overall, investors that begin early and stay in the market have a much better chance of riding out the bad times and capitalizing on the periods when the market is rising.

5 Easy Steps to Rebuild Your Credit after Bankruptcy

Bankruptcy often is the last ultimate solution for many debtors who have unbearable debts. With filing a bankruptcy, you will get rid of your debts instantly and relief you from the harassing call of your creditors.
Although bankruptcy has many undesirable consequences such as your bad credit record will remain on your credit report for 7-10 years, but with a little work, you can improve your credit even before these negative records expire. Here are five easy steps you can take to rebuild your credit.
Step 1: Get to know your current credit status
The first step to rebuilding your credit is to look at exactly where you stand. Order all your three credit reports from those three national credit bureaus: TransUnion, Equifax, and Experian. You can order these reports online, it easy and secure.
Print each report and review it closely. Try to understand the information listed in your credit reports and highlight any negative records or inaccuracies that are damaging your credit score.
Step 2: Check the expiration dates
By law, your bad credit record will remain in your credit report for 7 to 10 years, but the exact expiry date might be different among these 3 reports. Your bad record will still remain at your credit report although you have pay off your old debts and discharge from bankruptcy.
Look up the exact date of each of bad records including judgments, liens, charge-offs, late payments, bankruptcy filings, and collection records. You will likely see a major improvement in your credit score when these records expire.
Step 3: Request For Correct On Any Inaccurate Records
If you find inaccurate records, fraudulent accounts, or records that should have expired on you credit reports, you have the right to send a separate dispute letter to each of the credit bureaus to correct your Equifax, Experian, and TransUnion records. The bureaus will initial a 30 days investigation to see whether your requests are valid and if so, they will correct the inaccuracy in your credit report.
Just one note, don't try to dispute any of the positive information listed in your credit reports and it is a waste of time to attempt to dispute these records. Disputing positive information may actually harm your credit scores.
Step 4: Start to create good credits
Since there is no way to remove your bad record from your credit report, the best way to improve your credit score is to add good credits and building up your credit from there. You can easy do this by open up a new credit card from banks like Orchard Bank (Orchard bank has credit card plan designed specially to help people rebuild their credit after bankruptcy).
Use this new credit card responsibly and make the monthly payment timely; with this you are building new history of good credit behavior on your credit report. Over time, you may want to open additional credit card accounts or obtain a loan to boost your credit score even higher.
Step 5: Monitor your progress
Subscribe to a credit card monitoring service or get a credit card monitoring software and use it to track your credit score progress closely. Your credit score should improve steadily as you continue to use credit responsibly and add new positive information to your credit reports.
Summary
Bankruptcy does not need to chain you to bad credit for the next seven to ten years, but you have to be proactive in order to recover and rebuild your credit.

5 Great Reasons To Refinance

There are many great reasons to refinance. With lower cost, adjustable rate, and 0-down options, traditional loan programs like 30-year or 15-year fixed rate mortgages don't always allow us to meet our financial goals. Today, even reducing your mortgage interest rate a little can save you big over the life of your home loan. Take a look below at 5 great reasons to refinance. 1. Lower Your Monthly Payment If you plan to live in your home for a few years, it may make sense to pay a point or two to decrease your interest rate and overall payment. Over the long run, you will have paid for the cost of the mortgage refinance with the monthly savings. On the other hand, if you plan on moving in the near future, you may not be in your home long enough to recover the refinancing costs. Calculating the break-even point before you decide to refinance can help determine whether it makes sense. 2. Switch From an Adjustable Rate to a Fixed Rate Mortgage Adjustable rate mortgages (ARMs) can provide lower initial monthly payments for those who are willing to risk upward market adjustments. They're also ideal if you don't plan to own your property for more than a few years. However, if you have made your house a permanent home, you may want to swap your adjustable rate for a 15-, 20- or 30-year fixed rate mortgage. Your interest may be higher than with an ARM, but you have the confidence of knowing what your payment will be every month for the rest of your loan term. 3. Escape Balloon Payment Programs Like adjustable rate mortgage programs, balloon programs are great when you want lower rates and lower initial monthly payments. However, if you still own the property at the end of the fixed rate term (usually 5 or 7 years), the entire balance of your mortgage is due to the lender. If you are in a balloon program, you can easily switch over into a new adjustable rate mortgage or fixed rate mortgage. 4. Remove Private Mortgage Insurance (PMI) Zero or Low down payment options allow homeowners to purchase homes with less than 20% down. Unfortunately, they also usually require private mortgage insurance, which is designed to protect the lender from loan default. As the value of your home increases and the balance on your home decreases, you may be eligible to remove your PMI with a mortgage refinance loan. 5. Cash In on Your Home's Equity Your home is a great resource for extra cash. Like most homes, yours has probably increased in value, and that gives you the ability to take some of that cash and put it to good use. Pay off credit cards, make home improvements, pay tuition, replace your current car, or even take a long-overdue vacation. With a cash-out mortgage refinance transaction, it's easy. And it's even tax deductible.

5 Ways To Save Money On Your Car’s Gasoline

With gasoline prices steadily on the rise, many commuters are finding it more and more difficult to justify spending their hard earned money on the high cost of fuel rather than other necessities, including food and electricity. With that in mind, there are five simple steps that you can take to help stretch your dollar a little bit farther when it comes to your car’s fuel consumption. Carpool. If you have children who are in school, consider sharing the driving responsibility with other mothers that live nearby. This is especially helpful if you can alternate days. Perhaps you would drive the children on Monday and Wednesday, while the other women fill in on the rest of the weekdays. This will save you money on gasoline and will also make the children’s ride to school a lot of fun because they will be riding with friends. The same is true of commuters on their way to work, who can share in the responsibility and costs of driving amongst one another. Buy a smaller car. If you own an SUV or other large vehicle, your gas mileage per gallon will be less than if you were to own a smaller car. As a general rule, larger vehicles just normally use more gasoline. If you want to save money on the cost of fuel, buying a smaller car is a good start. Purchase a hybrid car. These cars are fairly new on the market and are still quite expensive, but many find the benefits outweigh the high cost when they figure in their savings on fuel. Hybrid cars usually get better gas mileage per gallon and this results in big savings for the owner. Turn off the ignition. If you are stuck in traffic that is moving about an inch per minute, then just put the car in park and turn the ignition off. While sitting in traffic, you are just using more and more gasoline and aren’t really getting anywhere. Rather than waste, try to save money by not leaving your car running in parking lots or your driveway. If you need to stop by the store and will just be gone for a minute, take the time to turn the ignition off. In addition to saving on gasoline, you will be ensuring that your car isn’t stolen by turning off the ignition and taking your keys inside the store with you. Many people would be surprised to know how many shoppers actually leave their car running while in the store. Walk. If you live near a store, walk instead of driving. This will save not only in the price of your car’s gasoline, but also in the general everyday wear and tear that your car receives by being out on the road. No to mention, walking is good exercise and is generally safe for most people. So why not walk off some of those pesky winter pounds and save some money on gasoline in the process. The aforementioned ways are five of the most popular to help you save some extra money where fuel is concerned. Some of the more obvious ways are to stock up when gasoline is decreasing in price. If you get $10 or $15 worth of gasoline every few days, you may get a good price one day and a terrible cost per gallon during the next trip. However, if you fill up your car’s gasoline tank while prices are still low, you will be sure to get the best deal possible. Not only that, but you may also end up saving some time at the gas pump when all of the other consumers are waiting in line to fill up before the prices go even higher.

6 Credit Card Secrets; Banks dont tell you

1. Interest Backdating
Most card issuers charge interest from the day a charge is posted to your
account if you don¹t pay in full monthly. But, some charge interest from the
date of purchase, days before they have even paid the store on your behalf!
REMEDY: Find another card issuer, or always pay your bill in full by the
due date.

2. Two-Cycle Billing
Issuers which use this method of calculating interest, charge two months worth
of interest for the first month you failed to pay off your total balance in
full. This issue arises only when you switch from paying in full to carrying a
balance from month to month.
REMEDY: Switch issuers or always pay your balance in full.

3. The Right To Setoff
If you have money on deposit at a bank, and also have your credit card there,
you may have signed an agreement when you opened the deposit account which
permits the bank to take those funds if you become delinquent on your credit
card.
REMEDY: Bank at separate institutions, or avoid delinquencies.

4. Fees Are Negotiable
You may be paying up to $50 a year or more as an annual fee on your credit card.
You may also be subject to finance charges of over 18%.
REMEDY: If you are a good customer, the bank may be willing to drop the
annual fee, and reduce the interest rate ‹ you only have to ask! Otherwise, you
can switch issuers to a lower- priced card.

5. Interest Rate Hikes Are Retroactive
If you sign up for a credit card with a low "teaser" rate, such as 7.9%, when
the low rate period expires, your existing balance will likely be subject to the
regular and substantially higher interest rate.
REMEDY: Pay in full before the rate increase or close the account.

6. Shortened Due Dates
Most card issuers offer a 25 day grace period in which to pay for new purchases
without incurring finance charges. Some banks have shortened the grace period to
20 days‹but only for customers who pay in full monthly.
REMEDY: Ask to go back to 25 days.

SOURCE: MASSACHUSETTS EXECUTIVE
OFFICE OF CONSUMER AFFAIRS AND BUSINESS REGULATION

6 Questions to Ask When Choosing a Home Equity Loan

So you need some money for unexpected expenses. The roof took on a leak, the deck rotted through and a new family addition tightened living space. You bought too much Christmas on credit now the bills are overwhelming. Junior got accepted to that Ivy League school. Tapping into your home equity can help ease your financial burden. Before deciding on borrowing ask yourself a few questions first.
1. Do I need a home equity loan or a home equity line of credit?
If interest rates are low, a loan is a smarter choice. You can borrow the full amount at once ant get a fixed rate on the entire amount. The advantage allows you to know how much to budget for monthly payments.
On the other hand, a line of credit will let you borrow from a revolving line of credit with variable interest rates. You access the money just like a checking account by writing a check for the purchase. Then the amount used is paid back. If the rates fluctuate, your payments will also.
2. Are there restrictions on how I use the borrowed money?
Most loans and lines of credit can be used for a variety of things. Whether you want to consolidate all your debts into one, do some home improvements or pay for college tuition, an equity loan or line of credit can be the answer.
Be sure to ask yourself if you can afford the extra payments. Is your budget flexible enough? Will adding another payment won’t over-extend a tight budget?
3. How do I find the best interest rate?
Your best bet to determine the variety of interest rates offered by financial services companies is to shop around. Ask questions. Try to find a company your comfortable doing business with. Look for ones that don’t charge application fees. Ask about charging a penalty for early payoff.
4. What is the term of the loan? Is it better to get a 5- 10- or 15 year term?
You’ll want to determine what your financial future strategy is when deciding on the term of the loan. If you’re planning to retire soon, you may want to ask for a shorter term. The longer your loan terms, the lower your monthly payments.
5. Are there any tax advantages to borrowing with a home equity loan?
There are many good tax advantages to home equity loans and lines of credit. The interest is tax deductible on your federal income tax. Be sure to consult your tax advisor before applying for a loan to be certain of the deductions.
6. Is the loan application lengthy and how long before I get an answer?
More and more lenders are allowing consumers to apply for loans over the phone or on the Internet. It can take as little as 10 minutes for the application process. And many pre-approvals can be delivered in a few hours. Final approval often takes any where from 5 – 10 days while evaluating your house is taking place. Often the entire process can be completed without leaving your home with final documents and checks being sent through the mail.
Tapping into your home equity to ease financial burdens can be a good idea. Do your homework. Shop around. Set up your budget. Use the money for what you need.

7 Quick Cash Fixes To Recover From A Money Emergency

When you are desperate to raise emergency funds, it usually doesn’t take very long for you to realize who really cares about you, who is truly a friend ... be they family or not. Here are a few emergency budgeting tips: Budgeting Tip #1: The first thing you want to do is prioritize to get back on track very quickly. If that means letting your credit card bill go for a bit, so be it. As soon as you realize that you have a money emergency, contact your credit card issuers and request reduced interest rates and payments. Not only one, both! Budgeting Tip #2: For your car payment, call the creditor and request a payment extension. Perhaps you hate payment extensions, because they require a fee and you still have to make the payment at the end of the contract. In this case, a payment extension can allow a little breathing room to help you recover during your money emergency. Expect that you will likely have to pay a fee (usually about ¼ - 1/3 the car payment amount) for the extension. Freeing up the money you need today is your first and only goal at this point. Budgeting Tip #3: Check to see if your mortgage holder will allow an extension for a nominal fee. Do this today! Budgeting Tip #4: Another quick fix, is to host an on the spot yard sale. You don’t have too much time for planning, so do a quick survey of your personal belongings. Come up with clothes that no longer fit, but that are in good condition, knick-knacks, dishes, and books as well as stuff you bought but no longer use. Throw it all together, quickly. Put some notices up the same day at laundry mats and grocery stores around town, and remember to place a sign at the end of your driveway. You can make a quick $300 this way with very little time and effort. Budgeting Tip #5: If you have a larger item to sell, call into the local radio stations to see if they have a “call in swap show” on the weekends. This is a very popular way to quickly convert gently used and more expensive items to fast cash. Budgeting Tip #6: Another quick option is with utility and telephone bills. If you aren’t already on a budget plan, ask that the current bill (plus any previous balance you owe) be set up for a budget plan. Expect to pay a down payment (usually ¼ of the bill) and that all future bills (while on the back payment budget plan) must be kept current. The nice thing about it ... it’s usually interest free, and can give you some much-needed breathing space for a month. You must be sure though that you maintain the regular utility payments AND the budget payments in the coming month. Budgeting Tip #7: Check with your family church regarding emergency help. Local churches can be one of the best places to find out what’s available in the community to help those in need, or in times of emergency. Check with your local church, first. Getting Fast Cash through Borrowing If you are absolutely, positively, in a bind, a real cash emergency, and you have exhausted all of the above, then consider borrowing. First, ask your family, then your local bank. As a last resort, you may want to consider what’s known as a “Payday Loan.” These types of borrowing stores can be useful when all else fails.

7 Tips For Better Online Banking

Banking has never been easier than it is today. Online banking allows you to access your bank at any time of day or night. You can even do this dressed in your underwear if you like. And if you choose to do it that way, it’s just as well there are no lines to wait in for online banks. 1. Probably the first thing to consider with online banking is the convenience. You can access your bank via the Internet at any time of day or night, even while lying in bed if you like. 2. Transaction performed online are generally much cheaper than those done over the counter at a bank branch. You can pay bills, transfer cash, check balances, and much more for much less. 3. Online savings accounts is something worth considering. The interest rates are usually higher and the fees are lower than traditional bricks and mortar bank branches. 4. Your computer has convenient ways to help you remember your login details. But don’t use the “remember my password” option if your computer suggests it. Keep your bank login details very safe and very secret. 5. Most online banks will allow you change your password. This is a very good idea and something you should do regularly. Of course, you must also remember your new password each time it is changed. 6. Logging on to your online bank is easy and very convenient. But after you have completed your business, remember to log out of your online bank again. This is especially important if you access your bank from a library, at work, or in a cyber café. 7. Enjoy your online banking, but beware of any email you receive asking you to verify your bank details by clicking a link. The site may look authentic, but it will probably be a fake. Respectable banks don’t ask anyone to verify details by email.

7 Ways to Grow Flowers

Flowering landscape trees are the crown jewels of the yard. Perhaps no other plants, individually, can have as great an impact on how a yard looks in spring. Browse the articles to which I've linked below for information on particular varieties of flowering landscape trees. Pictures are included. Crape Myrtles: Landscape Trees of the South A popular choice in flowering landscape trees for Southerners, crape myrtles have a long blooming period (mid-summer to fall). The blooming clusters of these flowering landscape trees come in pink, white, red and lavender. The clusters appear on the tips of new wood. Northerners can sometimes get away with treating these flowering landscape trees as perennials that die back in winter but come back in spring. Trees Not all specimens with a weeping habit are flowering landscape trees, but this article looks at several weeping varieties that do bloom, headed by four types of cherry. Saucer Magnolias The size and shape of the blooms are what suggested the common name for these flowering landscape trees. Want a specimen with a brilliant bloom as big as a saucer? Access information on these beauties here. Rose of Sharon Although some people think of it as a landscape "tree" (because it gets tall and can be pruned so as to have a single trunk), rose of sharon is, in fact, a flowering shrub. The fact that it blooms relatively late -- and for a long time -- makes it a valuable plant for those looking to distribute their yard's color display throughout the growing season. Top 10 List of Flowering Landscape Trees and Shrubs for Spring | This article features information on ten flowering landscape trees and shrubs that brighten our spring seasons. Included are redbud, callery pear and crabapple. Hawthorn: Late-Blooming Landscape Trees This article offers information on Washington hawthorn trees, which are perhaps most valued for the time at which they bloom (late spring to early summer). Many of the popular flowering specimens bloom earlier in the spring, and while their blossoms are pleasant sights for eyes sore from winter's barrenness, they desert us too quickly!

9 Places You Can Save Money For Your Family

Most families are spending more and more money every year (and not just because the cost of living rose) while also saving less and less. One reason is that few household managers spend much time reviewing expenses and expenditures to find ways they can save money. However almost every family has places where costs can be cut and pennies can be pinched -- and if those freed up funds are then used to pay down debt and save for the future it could have a dramatic impact on their quality of life. Food is one big area where many families could be more thrifty. Families spend an average of $2,434 on food away from home, according to the Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics. If you (and your spouse and your children) eat lunch out every day of the week then try brown-bagging at least one of those days. If just one of you does it you may save up to $400 a year and if you can double or triple that savings you could finance a family vacation with it. Another major expense is your home. When was the last time you looked at refinancing? Can you find a lower interest rate? Can you renegotiate to a shorter time frame? Even if you can't change your mortgage payment you may be able to pay a bit extra each month which over time will help pay down your mortgage faster. Also, don't overlook your utilities. There are ways to save in this area as well including updating your insulation and weather stripping, keeping up-to-date with maintenance and cleaning of your furnace and air conditioner or using a programmable thermostat to take advantage of those times when your house is empty or the family is asleep. Transportation is another major expense for many families. Not only are vehicles expensive to buy but also to maintain and operate especially with gasoline prices at such high levels. Is carpooling an option for any members of the family on at least a part-time basis? Make sure to combine errands and trips to cut down on your travel and save money when buying gasoline by taking advantage of special programs and discounts and remaining vigilant about gas prices. In addition, following a regular maintenance schedule and proper tire inflation can also help you achieve maximum gas mileage for your vehicle. Choosing your bank wisely can be another way to save money. Make sure the bank you use offers free (or at least low cost) checking as well as electronic bill-paying. Electronic bill-paying and a debit card can cut down on your need to use checks and postage which will save you in the long run as well as help you better manage payments so you will avoid fees, penalties, and higher interest rates. Cutting your credit card costs can be another major savings. This means making sure you are using the best possible credit card with a low interest rate and low or no annual fee. Shop around until you find your perfect match and don't forget to cancel and cut up those rejected suitors. Health care is not really an area where you can cut expenses but you can save money by taking advantage of special offers and programs. For example, many employers offer a Flexible Spending Account where you can save money before taxes for out-of-pocket medical expenses for prescription and nonprescription drugs, dental expenses, and eye care. Tuning up your insurance policies can also help you save money. When did you last compare rates for your home, your vehicles, and yourself? Some other ways to cut costs are to raise your deductible level or using the same company for multiple coverage (your home and vehicles). When you are shopping around make sure to give your current company a shot at keeping you. Sometimes they can offer a better rate too. Another major expense for many families is the cost of communication including local and long distance phone service, cell phones, cable or satellite television, and Internet access. Review your expenditures and cut out the services you don't need. Can some of these expenses be bundled to save money? Are there better plans for your needs? When looking to save money it is important to become an aggressive shopper. The Internet makes it possible today to compare prices and product reviews while not spending a lot of time and money driving from store to store. Any big ticket item (and that includes your weekly groceries, cleaning products and health and beauty aids) deserves a closer study. Over the next, month take time to review your family expenses and expenditures in each of these nine areas. Making a few alterations in your family's spending habits will soon make a difference in the overall household budget. You can raise your family's quality of life by making just a few changes in your monthly budget.