Read below to know the 5 financial tips for the first week of December 2013.Tip no 1: Start an automatic savings plan by transferring a part of every paycheck to the savings account. Try to develop a habit of saving by starting with a smaller amount.
If you want to develop a habit of saving, then the first thing you need to do is set up an automatic savings plan. Transfer a portion of your income to the automatic savings account every month. You don't have to keep a huge amount of money in the automated savings account every month. Initially, start with a small amount. Increase the amount gradually.
Ask your employer to deposit a part of your income directly to the automated savings account. The amount can be as little as $10, but at least you'll save some money every month.Tip no 2: Don't accept store credit cards in a hurry for they charge higher interest rates than average credit cards.
Average credit cards come at an interest rate of 15 percent. On the other hand, retail or store credit cards carry a very high interest rate. Several retail credit cards carry an interest rate of 20 percent. This means you have to pay 5 percent extra on interest.
If you can manage to pay off the full balance every month, then you may get lucky and avoid paying an exorbitant interest rate. However, if you can't clear the total balance every month, then it is likely that you would have to pay a very high APR. So, if you've a high chance of carrying balance, then it's better you don't opt for store credit cards.Tip no 3: Something is always better than nothing. If your ex can't pay any money for child support, then try to get it reduced through court.
If your ex is not doing a great job or lives on a very small income, then this doesn't mean that you should let him skip his responsibility easily. If he is broke, then ask him to get a job. In addition to that, ask your ex to seek help from the court regarding child support. Request your ex to ask the court to reduce the child support till he gets a better job with a good pay scale. He can consult a family attorney who knows about the anti-retroactive modification laws as well.Tip no 4: Make a stark distinction between your needs and wants especially when you're living on a minimum wage. Otherwise life will only get tough for you.
You can't afford to make additional expenses when you're living on a minimum wage. That is way beyond your means. In fact, what you need to do is to understand the difference between the wants and needs. For instance, you may love to drive a luxurious car to your office everyday. However, when your budget is tight, what you need to do is reduce your extra expenses. You can do that by sharing your car with your spouse. You can sell your second car to reduce its maintenance cost. Use all the opportunities to minimize your spending and try to take advantage of all the situations that will help you increase your savings.Tip no 5: Want not and waste not to keep debt problems at bay. Start loving frugal lifestyle to build a solid financial house.
Don't waste anything even if you have plenty of money. Keep it in mind that money is precious. If you keep on spending your money unnecessarily, then you'll be in serious debt problems very soon. Recycle the old materials to make something useful. For instance, don't throw away your jeans. Rather, use them to make some nice bags. Don't throw your coffee mugs. You can paint the mugs and use them as pen stands.
Last but not the least, don't want anything that would drain your funds all of a sudden. Try to have minimum needs and wants so that you can save money gradually.
Do you feel that you're interacting with an empty room when you blog? Do you pine for a worldwide audience to share your thoughts and sell your products? If this is what you feel days after days, then you're not the only one in this world. In fact, thousands of bloggers create blogs on various themes only to showcase them to a handful of people.
What the bloggers really need is to increase reader engagement and our community helps them just to do that in several ways. A blog becomes successful when it has a large audience. DebtCC Community helps bloggers to bring new readers, boost traffic, increase page views, attract advertisers, sell products and blogs in the following ways:1.Increase social engagement and attract new readers
The power of the social media is immense. It can help you build networks and interact with other bloggers. Our community is already there in Facebook, Twitter and Google Plus. It takes time to create your presence in social networking websites, but it is very easy to attract new visitors from the established profiles of DebtCC. Just like or follow DebtCC in various social networking websites. You'll soon be able to build your brand image and attract readers.2. Become an expert and increase credibility
Readers always give value to what experts say. If you want that readers/visitors take your blog seriously, then become an expert of our community and increase the credibility of your blog.Forums – Participate in our forums and join the discussion on various financial topics.
Social Answers – Give right answers to the questions of community members.
3. Engage 472,597 readers and increase page views
Page views are important especially when you want to sell some products through your blog or want to attract advertisers. One good way to increase page views is through links. You can share your article in our Wiki section and get a quality link to your blog.
Don't miss out the opportunity to invite more than 470,000 readers to your blog. Engage more and more readers to your blog and boost its search engine ranking.4. Get rewards and make your blog the next big thing
Viewers want something interesting and exciting from your blog. You need to improve the look and feel of your blog to attract visitors. You need to invest money for that. The question is, how will you get the money?
Our community is there for you. We know the importance of money and help you get rewards for your contribution in the community in the following 3 ways.
QOM – Give an answer to the question of the month and win $50. Use the money to make your blog more appealing.
Community rewards – Get an opportunity to make money in 9 easy and simple ways through the community. All you need to do is participate in the community and earn dollars for your blog.
Share and win iPad contest – Like and follow DebtCC in various social networking websites and get a chance to win iPad. Blogging has never been so entertaining!5. Make your blog useful to improve visitor experience
A successful blog needs to be useful for the viewers. If your blog is not helpful for the viewers, then you won't be able to sustain the traffic and the page views. Viewers will come to your blog again and again only when they get something useful. Our community helps you install useful tools and applications in your blog for free. Your viewers can use these tools and manage their life efficiently.Free tools you can install in your blog
Personal budgeting – Make your blog an important part of your viewers' life by installing the personal budgeting application in your blog.
Calculators - These tools are indispensable especially when you're trying to get rid of debt. The page views of your blog will certainly increase if you install the free calculators in your blog through quick and easy steps.
Letters – Help your distressed viewers negotiate with the creditors/collectors through sample debt and credit letters. Embed the letters in your blog and accelerate the debt repayment process of viewers.
Infographics – Make your blog interactive through info-graphics. Click on “Add it now” to have the info-graphics in your blog.6. Sell your products and blog at a competitive price
Buyers are mainly interested in traffic and revenue of the blog. Our community helps you achieve that through attractive features and tools. Now, once your blog starts generating traffic and a good amount of revenue, buyers would start showing interest in your blog.
You'll be flooded with lucrative offers from potential buyers. The offers will depend upon the type of blog and products you want to sell. Much will depend upon the business model also.
Our community helps to make your blog fascinating for the buyers.
If you really want your blog to make a solid online presence, then all you need to do is join our community and improve the visitor experience in 6 ways.
Check out the 5 financial tips for the last week of November 2013.Tip#1: Take advantage of the store discount to save money while buying Christmas gifts for your loved ones.
Availing the store discount can help you save a large amount of money while buying Christmas gifts this December. You can present good gifts to your loved ones without pinching your pocket. Try to check the online discounts offered by the online stores and buy the gift items from them. If you devote little time to think on how to buy gifts on budget, then you can make this Christmas special for your loved ones without pinching your pocket.Tip#2: Make sure your expenses do not exceed your income if you're planning to save for Christmas.
You can avoid splurging this Christmas, if you keep track of your expenses and avoid spending more than your means. Try to prepare a list before leaving for shopping as it can help you avoid reckless expenses. You can be prepared in regards to the amount you’ll spend on each gift and it can help you stay within your means. If you splurge recklessly and drain your wealth, then you can seriously complicate your financial state.Tip#3: Be prepared for your Thanksgiving Day with a mini cheese cake along with blueberry sauce on top, when you're looking for a frugal dessert to save your pocket.
Are you wondering whether the Thanksgiving Day dessert will pinch your pocket? Well it may not, only if you smartly prepare a simple but delicious dessert this Thanksgiving. A mini cheese cake along with blueberry sauce can be a treat for the kids as well as for the young people. This is one of the useful frugal dessert tips that you can employ this Christmas or for 2014 Thanksgiving.Tip#4: Making a Thanksgiving meal on your own budget can burn a hole in your pocket. So, arrange for a potluck Thanksgiving to save money.
Thanksgiving meal may not burn a hole in your pocket if you’re organized while planning for it. You can buy alcohol and canned food while taking advantage of the store discount. If you’re planning for a Thanksgiving meal in your budget, then one of the best ways to do so is by organizing a potluck party. So, you can enjoy the Thanksgiving meal along with your loved ones without burning a hole in the pocket.Tip#5: Not all deals are good deals on Black Friday, so you need to evaluate deals before buying.
If you're taking advantage of the good deals this BlackFriday, then you need to know that all deals are not considered as good deals. Before buying things on discount, make sure you compare the rates offered by different stores as it can help you save a huge amount of money. So, evaluating deals is one of the important tips to buy gift items without pinching your pocket.
Tip#1 Who said you can't make money while getting entertained? Attend movie premieres, catch a glimpse of the stars and make money.
It is true that you can make money by attending movie premieres and at the same time you can spend an evening watching movies. The theaters and movie studios are keen to collect data from the audience who attends the movie premiere. You get paid for providing information like how many people attended opening day, what screening time is popular and what reviews are being showed.Tip#2 Sit together with your spouse and formulate a budget that you will be able to follow after meeting your necessities
Both the spouses should have their inputs in formulating a stringent budget plan. If a budget plan is forced on the family, then it may not prove to be successful for their financial situation. So, you and your spouse should sit down and discuss your financial goals. Make sure you decide in advance how you both want to use your money. Analyze your joint or separate bank accounts, cash or credit card spending, and frugal or extravagant spending habits, before planning a family budget.Tip#3 Is it possible to save money on fuel? You can save by carpooling, combining trips and taking the first parking spot you find.
You can save on fuel if you combine errands into one trip, as you drive fewer miles and it helps to use less fuel. You car may consume more fuel because of several short trips taken from a cold start than when the engine is warmed up and efficient. You can save on fuel if you use your car’s overdrive gear to reduce engine speed and it enables you to save gas and lower engine wear.Tip#4 Be ready to compromise and adjust when you're in debt. Otherwise, you won't be able to solve your debt problems.
If you can adjust your financial attitude, then it can be easier to come out of the debt trap. Well, the first step of getting out of debt is by acknowledging the problem. You’re required to exercise financial discipline and make necessary adjustments when you’re in debt. You can never solve your financial complexities if you don’t compromise and adjust with your spending habits.Tip#5 Try to develop a pattern for financial responsibility to ensure that your loan gets paid off immediately
You can develop a pattern for financial responsibility as it can help you pay off the loan on time. It’s important to pen down your short and long term goal and save money according to your financial goal. Try to pay off your high interest credit card balance first to attain financial freedom with ease. Make sure you cut back on your expenses and keep tracking your monthly expenses until you feel you can control it.
Tip no 1: Be tactful and share your financial information wisely during the holiday dinners. You don't want to invite additional problems in your life.
If you're planning to go home during the holidays, then it's better you remain prepared to face some awkward money questions from your family and friends. They'll ask a lot of questions about your finances and career. For instance, if you've recently graduated from college and not yet got a job, then your family members would obviously ask when you'd get a job.Tip no 2: The value of the 529 Prepaid Tuition plan increases at the same rate as the college tuition cost. It is a must for all the parent
Section 529 plans are commonly known as Qualified Tuition Programs. This is one of the useful ways to save for Children’s College Education. There are two types of section under the College Savings Plan like the 529 prepaid tuition plan and 529 College savings plan. Well, prepaid tuition plan is a college savings program that may increase in value at the same rate as college tuition cost.Tip no 3: The best way to develop a saving discipline is to save an amount that you normally spend on useless items.
You can inculcate a good spending habit and avoid reckless expenses to exercise financial discipline. You need to learn the trick to avoid reckless expenses as it can help you learn about savings in course of time. If you’re financially disciplined, then you can avoid spending uselessly and it can help you save money in future. When you go for shopping, make sure you prepare a list of things that you plan to buy. Once you prepare a shopping list, you can avoid splurging your hard earned money and stay within your means.Tip no 4: It is not a tough job to pile up a mountain of debt. The tough job is to climb and cross the mountain.
Yes, it's true that it’s not a tough job to rack up insurmountable amount of debt. But it can be a tough job for any individual to come out of it. You need to keep two most important words in mind that are perseverance and patience, when you plan to come out of debt. It’s easier to get de-motivated if you’re unable to come out of the debt rut. So, perseverance and patience are two key words when you’re planning to get and stay out of it.Tip no 5: Save up so that you can survive an unforeseen financial shock. Save at least 3-6 month's worth of expenditures.
Start saving for your unforeseen expenses to avoid financial crisis and taking loans in future. You can put aside a stipulated amount of money each month and deposit in the account. This can help you avoid financial complication and assist you to prepare for the unexpected financial state. In order to build your emergency fund, you need to dedicate save for at least 3 to 6 months.