Finance Archives - Page 3 of 23

Managing the Family Budget

December 15, 2020 by admin

All parents need to organize the family’s finances, and sticking to a budget can be tricky. There are always some unforeseen expenses, whether it’s that the kids need something for school or you need emergency home repairs. While you can’t avoid these bumps in the road, sticking to the budget the best you can for the rest of the time is what will help you feel a little less concerned about your finances. Below are a few tips if you’re trying to figure out your family’s budget and how you can save even more.

Save for Christmas

As the holidays are just around the corner, it seems like they’re worth a mention, especially as this can be one of the most expensive times of the year for people. Getting involved in the festivities is part of the fun around Christmas, but if you are trying to stick to a budget seeing the funds deplete from your bank account is only stressful. To make things a bit easier and to allow you to enjoy the jolly season, open a separate saving account for Christmas or whichever holiday you celebrate, and put in a little bit each month from the start of the year. You could also do this for your family’s summer vacations too.

Meal Plan

Life is very busy, especially if you’re trying to balance a career with raising a family. Sometimes it feels as though you don’t get a moment to yourself, which is why a lot of people might end up going to the grocery store and picking up random things for dinner while they’re in a rush, or ordering take out. To avoid wasting food and to help you stick to your budget, take the time to plan your family meals before you go grocery shopping and only buy the items on your list. This will also help you to keep your family eating balanced meals throughout the week.

Use Coupons

If you’re trying to make some cutbacks on your spending but aren’t sure where you can, think about finding some coupons or taking advantage of discounts at the stores you like. They’re easy to find online and could end up saving you a lot of money; some even offer cashback promotions, which is even better. You can even make more money if you use this RobinHood gift card and invest.

Sell Old Stuff

Do you have things lying around in the house that are in good condition but you never use? Things like kids’ toys that are no longer played with clothes, electronic devices, etc. If you want to make some extra cash to help with your family saving plan, consider selling some of your unwanted possessions online. It’ll also help you declutter your home, so it’s a win/win situation.

Life can get expensive very quickly, and when you have a family to support, this only adds to the financial pressures. However, using some of these simple tips could help you manage the family budget a little easier and hopefully help you save up for the big things in life.

4 Smart Spending Habits to Develop ASAP

November 23, 2020 by admin

When people talk about making smart financial decisions, they almost always discuss money-saving tactics. Of course, finding ways to cut back or cut down on expenditures can make it easier for a person to manage their debt and pay off bills. However, the reality is that developing smart spending habits can prove just as beneficial. Indeed, learning how to be a savvy consumer can do wonders for your long-term financial stability. With that in mind, today we’ll explore four smart spending habits that everyone should work to build right away. Check them out here:

Stay Patient

Have you ever felt compelled to make a purchase? Or have you ever bought something on a whim and then regretted it later? If so, then know that you’re not alone. While impulse buying is fairly common, it is nevertheless a bad practice –– particularly for people on a tight budget. Given that fact, it’s important for all consumers to exercise patience when considering their purchase options. Give yourself at least a few days to review serious purchases and never rush to buy a product or service you don’t need.

Engage with Businesses

Modern businesses value customers that reach out and engage with them. In fact, they value customer interactions so much that they may be willing to pass along discounts or special offers to consumers who communicate with them. For example, pharmacy customers might be able to earn discounts simply by filling out a survey about their last shopping experience. If you’re looking for a good deal, don’t be afraid to speak directly with local businesses.

Become Brand Blind

Attachment to a certain brand could end up costing you hundreds –– or even thousands –– of dollars in unnecessary upcharges over a long period of time. Whenever possible, ignore brand names and advertising messages and compare products and services in an objective fashion. Often, you’ll find that the “name brand” is overpriced or over-hyped.

Maximize Positive Impact

Believe it or not, your spending power can go a long way. That is, provided you know how to stretch it. Whenever you’re making a purchase decision, be sure to consider how you can get the best bang for your buck. For instance, purchasing a piece of equipment might cost more than renting it. However, if you use that product on a regular basis, purchasing it will end up costing you less than renting it again and again. What’s more, consider how your purchases will affect others. Don’t ever forget that even a small act of charity can make all the difference for someone else. Keep that vital money lesson in mind the next time you’re faced with a choice of how to spend your hard-earned capital.

Saving Money on Your Next Long-Distance Move

September 24, 2020 by admin

Whether you are buying your first, second, or third home, each move is expensive. The cost could double or even triple if the move is made across the country. The good news is there are several ways to lower your expenses.

Rent a truck or Hire a Professional Moving Company

Driving a truck loaded to the max across the country can cause an abundance of stress. Whereas hiring professional movers takes the worry off your shoulders. However, if your budget is skinny, hiring a moving company can cost thousands on its own. You need to weigh the pros and cons and then come to a final decision.

Advantages of Hiring Movers

There are some clear advantages to hiring movers. First, you won’t have to drive a big truck through traffic and suspect roadways. Second, if you opt for their insurance, you won’t have to worry about the damage that may occur during transport. If there’s something of value such as antique glassware or your mother’s pearls, pack a separate box and bring them with you. Another advantage is that they will pack up the truck and remove everything from the truck into your new home.

Reducing the Estimate

Every company will provide you with a written estimate based on the information you provide. Naturally, if any of the info changes, the cost can increase or decrease accordingly. Most estimates include a charge for packing a set number of boxes. If you opt to pack up the boxes yourself, you can lower the final cost. The written estimate will also include a fee for the supplied boxes. However, if you decide to acquire the boxes on your own, that amount comes off the bill. You can find boxes for free at retail stores, supermarkets, and liquor stores.

Move During the Off-Season

Moving companies charge different rates throughout the year. During their peak season, May through September, you can expect to pay the most. However, if you schedule the move from October through March, you’ll pay less. It’s all about supply and demand. To save even more, schedule the move for a weekday versus over the weekend.

Take Only What You Want

Everything that you take along is going to occupy space on the truck. The more room you use, the higher the fee. Before contacting a moving company, figure out what you want. Clean out the basement, the garage, and the attic and start the process of decluttering. Anything you no longer use or need set aside. Return to these items a day or two later, and if you’re still on the fence about bringing them, leave them behind. You can sell, donate, or contact a junk company to haul them away. You can use the profits on the items you sell to help fund your move and the donations as a tax deduction.

Moving Container

If you decide that hiring a moving company is not in your budget and you don’t want to drive a truck for more than a thousand miles, a moving container may provide a good fit. Moving containers have a price somewhere in the middle. One advantage of having a container delivered is that you have time to pack up at your leisure. The company simply drops off the container and you give them a call when it’s ready for pick up. They also deliver it to your new home when you’re ready. This lets you get the fine cleaning done ahead of your things.

Moving can be emotional for you, your spouse, children, and pets. You can remain excited and move for less if you reduce your inventory, find boxes, pack yourself, and choose the moving date during the week in the off-season.

Money Lessons Every Teenager Should Learn Before Graduating

September 11, 2020 by admin

Once your child enters high school, you’ve only got a few years before they become adults. Whether they plan on going to college, traveling the world for a year, or applying for a job right after graduation, having a clear understanding of financial management practices will help them along their journey. Besides putting coins in a piggy bank and paying for things they want, you must teach them the following:

Earning Money

You may have provided your child with an allowance for getting good grades on their report card and completing household chores, but now it’s time to take things up a notch. Your teenagers need to understand that mom and dad aren’t ATMs. Teach them the importance of earning a living.

There are a few ways you can teach your teenager this financial lesson. If they’re old enough, encourage them to apply for a part-time job. If a job is not an option, show your teen how to turn their skills and talents into earning opportunities. They can cut grass, remove snow, walk dogs, babysit, or assist family members and neighbors with home improvement tasks.

Budgeting

While you wouldn’t expect your teen to pay the rent, utilities, or groceries, there are personal expenses they can cover. They may be responsible for their portion of the cell phone bill, special meals or snacks, and entertainment. When your teenager starts earning income, show them how to create a budget. This shows them that to survive, they have to be responsible with their spending.

Banking

Tucking money away in a drawer, under a mattress, or in a piggybank was fine when they were younger, but it won’t work in adulthood. Now is the perfect time to teach your teenagers about banking. Open a free checking account at the bank of your choice. Show your teen how to make deposits, write checks, and manage their accounts through online banking.

Saving

Whether for future purchases or emergencies, saving is an essential financial management practice to teach your teens. When you open a checking account, consider opening a savings account. Based on the budget you created, talk to your teen about setting a little money aside each week.

Credit and Debt

From credit cards to student loans, teenagers are inundated with credit offers to finance their future. Without proper management, however, these credit options quickly get out of hand. Therefore, talk to your teen about credit and debt. Explain how credit works, what it means to be a responsible borrower, and what happens if you aren’t.

Allow them to view your credit report so they can see how accounts and payments are recorded. Express the importance of paying bills on time and not taking on too much debt to keep their credit in good standing. You should also communicate the importance of good credit to obtain personal loans, a house, a car, and, in some cases, a career.

Fortunately, there are a lot of teen credit card offers you can take advantage of. The cards allow you to deposit cash in an account and use just as you would any credit card. Your teen then gets a hands-on experience on what credit is and how to manage it. The best part is, you’ll be there to help them.

Giving

The last lesson parents should teach their teenagers is giving. There are so many causes and people in need that could use the support. While there are several ways to give, donating money is at the top of the list. Ask your teen what causes they’re interested in or how they’d like to give back to the community. Then, show them how to donate to that cause.

There’s no reason why your kids should have to learn about money through trial and error. As you probably already know, this concept often leads down a path of destruction. Give them a headstart towards a great future by investing time in teaching them the financial lessons listed above.

How Polo Funding Can Help You Get Debt-Free Before the Wedding

September 11, 2020 by admin

The months leading up to your wedding can easily be among the most exciting times of your life. You are–as you should be–filled with happy anticipation. You, your family, and your friends plan the magic touches for the ceremony and celebrations surrounding it. You look forward to the upcoming bachelorette party, rehearsal dinner, and unforgettable reception. In your free time, you watch videos and devour wedding-related content online; Pinterest, YouTube, and Instagram are your daydream playground. And you just can’t stop gazing deep into the eyes of your loved one.

Something that can dampen all of this bright festivity is the shadow of debt. If you have amassed a great deal of personal debt over the years, that debt can diminish the joy of wedding planning, wedge itself in between you and the people you love, and cause many a heartache. As you’ve probably heard, one of the main reasons otherwise perfect marriages run into trouble is financial difficulty. It’s important that you work to fix your financial picture before the big day.

Set Pre-Wedding Goals

Depending on how far in advance the date has been set, you may have a shorter amount of time to “whip yourself into shape” financially than you’d like. There is no time like the present to get started. Dive headlong into the project of turning your financial situation around with the same enthusiasm you muster for planning the other aspects of your wedding. Set new financial goals and work towards them fiercely.

Get Organized

Organize your finances by creating a budget, keeping track of your spending, and paying off your debts. At the beginning, this can feel overwhelming; large journeys do. However, if you break any large task into a series of much smaller steps, you have a higher chance of success.

Consolidate Debts

Sometimes paying off your debts isn’t so easy. Fortunately, there are companies like Polo Funding who can help you consolidate your credit card debt. These companies allow you to ditch the variable and high-interest rates that you’re probably paying to the credit card companies. Instead, they give you a manageable monthly payment at a more reasonable low-interest rate, allowing you to see light at the end of the tunnel.

Start Saving… and Make it a Habit

Sadly, it has become less “normal” for Americans to save money. Our costs of living–from housing to transportation to medical expenses–seem to be rising. This is especially true in some of the bigger cities, such as Los Angeles, Portland, New York, Miami, Chicago, and so on. If, after you’ve paid your monthly bills, you want to go out for dinner with your friends or buy a new outfit, you probably have to put it on a credit card.

Somehow you need to shift your relationship with money and stop spending what you don’t have. Instead, set aside what you do have. As an example, if you were to set aside $100 a month (roughly $50 a paycheck), you’d have an extra $1200 a year in savings. That may not sound like so much, but it’s a start.

Build an Emergency Fund

As you work to get back on track financially, one of the first projects you focus on should be building an emergency fund. Set aside money to give yourself (and your new partner) a financial cushion in the event of unexpected situations like an expensive car repair or a sudden job loss. A financial cushion can go a long way towards reducing the kinds of stress that make good marriages go haywire. An emergency fund can change an unforeseen trip to the veterinarian from a financial catastrophe to something you can take in stride.

Is Polo Funding Worth the Hype?

This is a valid question, but perhaps the more important one is whether you want to get yourself out of debt more quickly and for less money. With wedding bells in your near future, you might not have the luxury of trying to handle a mountain of high-interest credit card debt “a little at a time.” Companies like Polo Funding help consolidate your credit card high-interest payments into one simple, fixed-interest loan.