Aries (March 21 - April 19)
When it comes to managing money, Aries, you must follow one simple rule: Pay yourself first. That means whenever you get a paycheck, you need to put a set percentage of it into a savings or retirement plan. If the deposit is automatic, you won’t feel as if it’s cramping your style. It’s also a good idea to reserve a small percentage of your income for risky investments, just to satisfy your need to live on the edge.

Leo (July 23 - August 22)
There’s no doubt about it, Leo — you love living in style. This requires careful money management skills. Fortunately, your desire to have only the best things in life prevents you from wasting money on cheap, tawdry items that don’t stand the test of time. Still, it’s important for you to find a way to finance your expensive tastes. Try offering your services as a professional shopper … or writing consumer reports or product reviews.

Virgo (August 23 - September 22)
You probably know exactly how much you have in your bank account, Virgo, right down to the last penny. You get the most pleasure from your wealth when you follow it closely and stick to a budget. You also like to get the most for your money — in fact it’s something of an obsession for you — so you do price comparisons before buying anything lavish. You’ve got a secret weakness for natural fibers, handcrafted items and organic food. Don’t deprive yourself of these pleasures.

Aquarius (January 20 - February 18)
It’s no surprise that your money management techniques are utterly unique, Aquarius. When you’re down to your last dollar, you’re likely to buy something seemingly impractical, like a pack of the latest neon-colored gum. Then you turn that gum into a remarkable adhesive that has all sorts of profitable applications. If you’d like to build your wealth, consider investing in a portfolio that suits your ethics — it’s bound to pay off handsomely for you.

Pisces (February 19 - March 20)
As a general rule, you don’t concern yourself much with money matters, Pisces. To change this, consider how much good you can do by managing your finances well … because when you have extra money in your pocket, you never fail to spend it on worthy causes. You have especially good luck with investments related to health care, beverages and shipping. Since day-to-day money management doesn’t interest you, it may be in your interest to sign up for as many automatic bill-paying services as possible.

Living beyond financial means and incurring large amounts of consumer debt are increasing among individuals and families. Whether your income is large or small, creating a budget and adhering to it, will allow you to avoid debt and make better choices about needs and wants. When you create a family budget it is not so much the size of your income that determines success, but the way it is spent. The first step is to identify payments and bills and start to allocate your monthly income accordingly. Make categories for each item such as; rent/mortgage, car payment, utilities, food, household items, entertainment, vacation, household repairs, personal spending, savings.

Budgets can be customized to fit individual and family means, as well as needs and wants. As it is identified where money is being spent, evaluating purchases and what can be cut, changed or eliminated will allow for more conscience and effective spending. Many people do not realize how much they spend on eating out, unnecessary household items or clothes. The money is gone and they can’t account for where it went. This is not only damaging financially by spending more than one has, but it is less fulfilling because it is thoughtless purchasing. For many, immediate gratification in purchasing has led to a plague of debt and bankruptcy. Avoid the trap of interest and wastefulness by making clear decisions about money. Here are some suggestions to help make a successful budget.

Counsel with partner/family on a regular basis about spending
Regular communication and goal setting allows for financial success because all parties are on the same page and work together to make decisions for the family. By talking about goals it identifies concretely what the needs and wants are for the home and family and helps eliminate the power that impulse can have when shopping. Make decisions together including gifts, eating out, home improvements and personal spending amounts. Setting a limited amount allocated for each person to do with what they want without reporting gives freedom of choice, but controlled. Depending on your financial status that amount will vary and could be as little as $50 a month. It is important to keep it within an amount that can be afforded.

Use it up, wear it out, make it do, or do without
It seems as though the more people have, the more they want. Just getting more money is not the solution for most financial struggles. Learning to evaluate needs and what can last and what needs to be replaced is the first step to putting money in the best places and making what ever your income is, be enough. Although it is tempting to “keep up with the Jones’ ” comparing possessions to others and trying to have what they do will not allow for a successful budget. If items are bought on borrowed money then possessions are not a true reflection of finances anyway. Making due with what one already has will eliminate a lot of unnecessary spending and free up money for more wise purchases.

Give thought to purchases
Planning for purchases and saving before something is bought will prevent unnecessary debt and the consequences associated with it. Mindless spending has as negative of impact on the household as mindless eating does for the body. You end up with more than you need in the wrong places. Plan for what you want by making a list of most important or most desired to least important. Identifying your needs and wants will give focus and direction for spending and help prevent impulse buying. Shop around and see what is out there, what the going rate is for an item, and what a good deal would be. Watch for sales and coupons to make the best purchase.

Include savings in a budget
Living within financial means is not living on the maximum made, but planning for a rainy day. Because unexpected events can and do happen planning for such situations will prevent the debt that would have to be incurred to pay for them. The more a person saves, the better, set aside as much as possible in this area for security and protection. Regret of purchasing is much for common than regret of not purchasing.

Creating a budget will reduce financial stress. Making conscience spending choices, well thought out and followed through with will create financial freedom and power for individuals and families. Wise choices will increase the quality of life, even if the quantity of possessions is not, and greater peace of mind will be found, and that is success.

Ever heard about debt consolidation loan? This type of loan is secured via a property and creates a new kind of loan that usually pays almost all your debt, thereby saving you necessary money as well as credit.

The following are easy, effective and efficient ways to consolidate all your loans.

Add them all up

It is important that all loans, credit card charges are put together and added up. This makes computation of all debts easier as it brings together everything that needs to be paid. Eventually, this makes paying easier to manage and record.

Check the rates

Interest rates for each credit card varies. Usually, the range goes anywhere between twelve percent to twenty one percent. Not only do credit card interest rates need to be checked but also all other loans incurred.

Go to a lender

Ask for the services of a lender. Try to contact a lot of lenders so you have a range of options to choose from. A list of lenders could be found in your local yellow pages. Or, better yet, ask for the help of your local agent in real estate as he may give you a referral. You could also go online and check for any lenders near your area.

Choose the best for you

Lenders usually offer various rates of interest, loan length, loan amount, interest rate type, etc. It is up to your decision-making skills to determine the loan that will best serve your interests. Keep in mind though that the program you need for a loan will most likely depend on your income, credit as well as equity.

Fill the form, and read the fine print

After selecting the loan that is perfect for your needs, completely fill out the application form and provide all the necessary documents.

All copies of credit cards and credit card statements need to be given to the lender in order for them to pay off the necessary debt / charges. Be patient as the loan is being processed as the usual time it takes is about three to four weeks. Be warned though that any interests paid for loans and credit cards aren’t deductible.

All in all, a debt consolidation loan will most likely reduce drastically the total amount you need to pay monthly as it also helps reduce the interest rates.

1. Buy in bulk. Wholesale office supplies are cheaper than retail office supplies. There are many office depots you can visit which offer lower prices for bulk supplies. By doing so you could save as much as 30% from regular retail prices.

Also it would be well if you shop around before buying your supplies. Most of the supply products differ in prices, so you would be in the best league if you were able to pound was around before purchasing anything.

2. Implement saving measures. One way to save money in the office is by implanting policies that encourage the proper use of office supplies. For example, you could implement measures so that you could reduce the waste of office paper in your everyday operations.

Make sure you don’t throw away used papers in the office; they could be used for other purposes such as backing for painting projects, and scratch paper for doodling or writing notes. Waste paper can also be sold to recycling plants for some extra cash.

3. Choose generic. Some of the pricier office supplies have cheaper counterparts. It would do well if you shopped around for cheaper replacements for some of your office supplies. You will however have to balance this against your company’s image. Some companies invest in expensive materials to bolster their image. It is possible to choose cheaper materials without having to compromise this image.

4. Ration your supplies. A good cost-cutting measure would be to ration your supplies among your workers. Some workers engage in prodigal waste because they feel that they have an endless supply of office supplies. Make your workers understand that supplies cost money, and proper planning and use of office supplies is integral to saving money.

5. Perform an inventory. People are less likely to waste good office supplies if they’re supplies are being taken account of. Although it may be too extreme to itemize every single supply they use, at least try to hold your workers accountable for the supplies they do use. This will give you a good idea of where their supplies go.

Here are a few ways to help you lessen the burden of having to pay too much for prescription medicine.

1. Go for generic. Most likely, your doctor may have given you a specific brand name of medicine to purchase. You could, however, go for generic brands of the same medicine type. Generic brands tend to be cheaper than branded medicines.

You may be concerned that generic medicines might not be as effective as branded ones. But the truth is, sometimes generic medicines perform even better than branded ones.

The best way to go about this without having to expose yourself to the risk of buying inferior medicines is to ask your doctor if there are any genetic variants of the medicine he has prescribed to you.

Most doctors have a list of alternative brands for you to try. They aren’t limited to just one single brand. In fact, these pharmaceutical companies all jockey for the doctor’s attention. They will lavish the doctors with different gifts because they know that their race for a doctor’s favor is neck-and-neck.

However doctors are usually sensitive to their patients needs and will give them a cheaper alternative when the need arises.

2. Follow the prescription schedule to a tee. Some people try to save money by skipping a dosage of their prescription medicine. However, this actually causes them to spend more. If you don’t follow your doctor’s orders properly, you could find yourself getting sick again and having to pay more for continued medication.

In the case of antibiotics, if you skip your medications, you could find your infection getting worse. Remember that antibiotics are a regimen, and if you don’t complete your regimen, the medication doesn’t work.

If you have to go back to your doctor he will then give you a more potent antibiotic since the bacteria you were trying to contain may have gained resistance to your previous antibiotic.

The truth is, antibiotics are becoming harder and harder to use simply because people don’t complete their antibiotic regimen. And bacteria are steadily gaining resistance to even the most powerful antibiotics. So when your doctor gives you an antibiotic regimen, do follow it to a tee.

]]> http://www.managingmoneytips.com/how-to-save-on-prescription-medicine.html/feed/ http://www.managingmoneytips.com/successful-deals-with-creditors.html/ http://www.managingmoneytips.com/successful-deals-with-creditors.html/#comments Sat, 20 Sep 2008 08:31:07 +0000 Mirna Prasaja http://www.managingmoneytips.com/?p=174 Interactions with creditors, especially if you don’t have the money to pay them, can be quite stressful and frustrating. The challenge here is to be able to get them on your side in spite of a difficult financial situation.

There are certainly several ways of putting an end to unnecessary harassment and even bargaining for better repayment terms, deferred payment schedules, and other possible arrangements when tough times strike. Unfortunate financial circumstances shouldn’t lead to a rift in your good relationship with the creditors. Consequently, the creditors must be cognizant of the fact that you have a right against unfair debt collection and credit reporting practices no matter what is stipulated by the Fair Debt Collection Practices Act.

As soon as you encounter problems with your personal cash flow, don’t wait until you have missed your payment schedule. Inform your creditors early on of your concern. In such way, you don’t create a delinquent image as you manifest sincerity to settle your responsibilities. Likewise, solutions to the problem may be given ahead of time. Creditors will be willing to help if they are aware of your situation.

Early intervention is indeed the key here. Such may eliminate or lessen late charges. You may even have the option of paying only for the interest in the meantime. The service or utility may not be halted as well. Depending on the need, it may also be possible that your payment be deferred to as far off as the end of your contract. In other words, you may be able to negotiate for a more manageable payment scheme. As such, your account will remain under their care instead of those collection or credit reporting agencies.

Make sure though that before contacting them, you have figured out a certain plan of action. This plan should be realistic but, at the same time, auspicious to you and the creditors. Consider how much is left of your income for other expenses. List down all your fixed payments such as those for mortgage, loans, etc.

Since you are on tight budget already, you might want to reduce your flexible expenses such as clothes, night-outs, etc. It would also be wise to think of possible ways of incurring additional income. When your own financial status has been laid down with which you have identified some sound courses of action, present it to the creditors. They will give you feedback about it as well as suggestions, if any.

You creditors may come from different institutions and make sure that you give priorities to them accordingly. Creditors from law enforcement agencies imposing on you as a result of court judgments such as those for child support, for example, are usually the strictest when it comes to making payments on time.

They may disrupt your tax returns, collect your income, enforce encumbrances on property or suspension of licenses, and many others. They should normally be on top of your priorities. Next would be those for investments such as houses and cars as they can easily order turn over of the property.

Of course, creditors from insurance, utility, and credit card companies should be prioritized as well but they normally have programs that offer some sort of a leeway during hard times. To get those is what you want to negotiate properly so work it out as soon as you observe symptoms of financial crisis.

There are several ways of contacting them. Initial explanation may be done over the phone. It will help if you are ready with a script so as to keep you composed and alert while you clearly give the details of your situation. Take note of what the other person is tell.

The foundation was still strong and the pipes were in good condition. Some retouches the couple said and this place will be good as new.

Many people think that it will cost a fortune to do a makeover on homes. This isn’t true because there are ways to save money and still achieve the intended objective for those who will be living in the household.

Here are a few tips from those who can save money on home improvement projects.

The first will be to go around the house and see which areas need a makeover. Each of these places should be checked for cracks or leaks that may have accumulated through the years given that it has stood for a number of years.

Next, will be to get the advice of a friend who is an interior designer who can give some advice on how to make this happen. The expert might say this has to be torn down and replaced. These are all good ideas and this will all boil down to how much it will cost to finish the entire project.

If the quote is too expensive, perhaps asking friends and family who know other contractors who can do the job for less the price can be called in. These professionals can also be hired at an affordable price during lean months when there is not that much work going on in the neighborhood.

Those who are very hands on can replace the old shelves and cabinets by buying pre-assembled versions that are available from the hardware or furniture store. These are easy to install and can be screwed or set against the wall.

Another thing hands on people can do is repainting the ceiling or walls in the home. All the person has to do is buy some paint and plan when this will be done. The task can be done weekly so that one area of the house is finished before moving on to the next.

Home improvement is something that can be done at anytime that those in the household think it is proper. Going over the costs and knowing when this will be done can save the homeowner a few hundred dollars for other expenses.

]]> http://www.managingmoneytips.com/tips-on-saving-money-during-home-improvement-projects.html/feed/ http://www.managingmoneytips.com/the-essential-guide-to-saving-more-money-on-mortgages.html/ http://www.managingmoneytips.com/the-essential-guide-to-saving-more-money-on-mortgages.html/#comments Wed, 17 Sep 2008 08:27:00 +0000 Mirna Prasaja http://www.managingmoneytips.com/?p=170

Many people may have been enjoying mortgage rates that are lower than what you have right now, but it isn’t easy to say so.

Why? Simply because getting lower mortgage rates isn’t that easy. First, you have to think about the refinancing schemes that mortgage lenders will provide you in case you want to lower your rates. Lending companies wouldn’t give you something good without the necessary qualification.

So the next step is for you to consider if it is high time for you to refinance your mortgage. Some people think that refinancing their mortgage will be a lot easier to do because of the financial history they have built with the company. Most of them believe that refinancing is always a good choice of getting lower rates.

In some ways, refinancing a mortgage can be a good idea, but it still depends on the situation or on the type of mortgage that you have.

The question now lies on whether it is time for you to refinance or not because not all refinancing schemes are created equal. This goes to show that every refinancing scheme may differ from the others and would entirely depend on the kind of program you wish to pursue.

Before you can decide on such things, it is best that you consider first the reasons why you are refinancing your mortgage in the first place. Here are some of the common reasons consumers make whenever they decide on refinancing their mortgages:

1. To gain benefit from an enhanced credit rating

Some people are lucky enough to get mortgages in spite of their bad credit rating. However, they may have to suffer the consequence such as having higher interest rates.

As time goes by, these consumers try to build up their credit rating by paying their dues on time. Nevertheless, having high interest rates can be very expensive to maintain. That is why they opt to refinance and desire for lower interest rates.

In this way, refinancing now could be the best time for you to save more than to continue paying higher interest rates in spite of your good credit rating.

2. Modify your loan

If you have chosen an adjustable mortgage rate in the first place, you may find it reasonable now to get a fixed-rate mortgage considering the discrepancies on the interest rates.

Adjustable rate mortgage may appear very low at some point in time because they are primarily dependent on the different factors that affect the interest rates set by the Federal Reserve.

So if you want to convert your loan into a fixed-rate mortgage, you have to refinance your mortgage.

3. Get a lower interest rate and cash out and pay other debts

Some consumers want to have a better deal. They want to refinance their mortgage but would also like to cash out at closing so that they can use the money to pay their other debts.

It is like hitting two birds with one stone. There are some people taking charge of their home equity whenever the prime rate is lower than the standard rate of a fixed-rate mortgage with a 30-year pay out plan.

Refinancing your mortgage to a lower rate and still get to cash out to pay your other debts would simply mean getting more than what you presently have a loan from, and subsequently taking the change.

For instance, you have an existing loan of $50,000 on a $90,000 house. You have decided to get a lower interest rate on that loan and still get $10,000 cash to pay off your car loan.

Through cash-out refinancing, you can easily get your heart’s desire by refinancing your mortgage from $50,000 to $60,000. In that way, you were able to lower your mortgage interest rate on your standing balance of $50,000 and still get cash as you wish.

With all these things, refinancing might just be the answers to your prayers. You see, it really pays to know the difference. Don’t just take somebody’s word for it. Work on it…now!

]]> http://www.managingmoneytips.com/the-essential-guide-to-saving-more-money-on-mortgages.html/feed/ http://www.managingmoneytips.com/10-ways-to-find-the-money-hiding-in-your-paycheck.html/ http://www.managingmoneytips.com/10-ways-to-find-the-money-hiding-in-your-paycheck.html/#comments Mon, 08 Sep 2008 08:23:28 +0000 Mirna Prasaja http://www.managingmoneytips.com/?p=146 No matter how tight things are financially for you; no matter how bleak you think that 2005 might be, if you are earning a paycheck then there’s extra money hiding in it. You just need to know where to look. Here are 10 ways to bring that money out into the open.

1. Get an instant raise from your boss

Going in to work and demanding a raise might not be too smart, but there is a way to get one that will actually show up in your next paycheck. Here’s the deal…

Your employer withholds a percentage of your paycheck every week for income taxes. The problem is, most people have too much withheld. And, while that might result in a big refund check at the end of the year, it’s really poor financial planning. You are deprived of that extra amount every paycheck and the government doesn’t pay you interest for using your money all year.

Here’s what you do:

Ask your payroll department for a new W-4 form. That’s the form that your employers uses to calculate how much money to take out of your paycheck each week.

Then use the IRS’ withholding calculator at http://www.irs.gov/individuals/article/0,,id=96196,00.html

Follow the simple instructions to arrive at the new amount that should be withheld. Then just complete the new W-4 and hand it back to your employer. Wham! Your instant pay raise will be in your very next paycheck!

2. Pay Yourself First!

OK, you’ve grown fond of getting that fat refund check every year and now you’re afraid that you are going to miss it. No problem! Here’s a great way to get that refund and more.

Take the extra money that your changed W-4 is providing you and instead of putting it in your pocket, or paying a bill, pay yourself instead.

Open a savings account at http://www.OrangeAccount.com . Since they pay the highest interest rate of any online bank, and there are no fees and no minimum balance required to open an account, you can deposit that extra money every week. At the end of the year you’ll not only have saved the same or more than your refund check usually is, but you’ll have earned interest as well!

3. Chill out

Turn your thermostat down in the winter and wear a sweater instead. For every degree you lower the thermostat you save 3% on your heating bill. The same holds true in the Summer. just raise your air conditioning one degree warmer. Want to save 6% instead? Just make a 2 degree change!

4. Little things add up

Do you really need that $3 latte every day? That’s at least $15 a week that’s back in your pocket if you drink just one every work day. If you eat lunch out every day, and spend even just $5 per meal (which is getting pretty hard to do these days), then bringing your lunch to work twice per week would give you back $10 and bringing it every day would save you $25. How much is that really? $10 per week is $500 per year, assuming you work 50 weeks per year, and $25 per week is $1250.

5. Get ‘uncabled’

Are you really getting your money’s worth out of that top-tier cable subscription? If you’ve got more channels than you can possibly watch think about dropping down to basic cable. You could save as much as $30 per month and that’s $360.00 per year.

6. Get a receipt for EVERYTHING

Just do it for one month. Any time that you buy anything, get a receipt. Stuff them all in an envelope. Put copies of all your credit card bills, utilities, everything that you spend money on in the envelope. At the end of the month add them all up and look at where the money went. Then start slashing away at the fat until at least 10% of that money is back in your pocket.

7. Stuff It

Every time you come home, empty all of the change from your pockets and purse that you accumulated during the day. Toss it into a big jar. At the end of the month put it into the bank. Even if it’s just a dollar’s worth a day, that’s $365 per year PLUS interest.

8. Clip It

Your Sunday paper, as well as thousands of web sites, are overflowing with grocery coupons. Clip the ones for food that you actually eat and avoid the ones that are for food that you don’t. Saving just $10 per week at the grocery store is another $520 a year that comes back to you.

9. Snip It

Get rid of all of you credit cards. They are the number one cause of personal bankruptcy in the U.S. Take a month’s worth of credit card bills and add the interest up that you’re paying. Then multiple that by 12. You’ll be shocked at what your wasting every year by using your cards instead of cash.

10. Negotiate It

Don’t pay face value for anything that you don’t have to. You may not get a lower price if you try to negotiate, but you darn sure will never get one if you don’t ask. This is especially true when you are dealing with contractors, furniture stores, and carpet stores. Even a mall jewelry store might be willing to negotiate if sales are slow and quotas haven’t been met.

Don’t think of each of these tips as ‘only a few bucks’. The Rio Grand River is only a trickle at its source. Think of every dollar that you save as a ‘money tree’. Plant it where it will do you the most good — in your pocket instead of someone else’s.

Robert Dickson
Download Our Free Report, ‘Save More Than You Ever Thought Possible’ at http://www.MoneyAide.com Free Tips on How To Save Hundreds or Even Thousands of Dollars Every Year.