Why Going To Library Helps Your Money

Believe it or not, some people pay tens of thousands of dollars a year for a good traditional university education. In addition, some people will even go to the ends of the earth to gain real-world knowledge while paying tens of thousands of dollars a year too for their own self-education via seminars, coaches, consultants, self-improvement programs, and books. Wow, pretty impressive, huh? You want to know what’s also pretty impressive and is a resource that we all have? It’s the free public library that is just right down the road from us. It is bursting at the seams with free educational books, audiobooks, videos, professional staff, and much, much more.

Our national, state, and city governments have teamed up with civic organizations and philanthropists to invest huge amounts of money to make sure that this incredible free resource, the library, is available to all of us. Are you grasping how amazing this is? This is an equal opportunity for us all in which other people are spending their money on us! Are you taking advantage of this opportunity and helping these generous people get their money’s worth in their investment in you and your community via your public library?

Trust me, the free public library and all those knowledge and skill-giving books inside that warm, snow-free, rain-free, and stress-free self-building edifice is worth our efforts and time. Once we get there and see what the free public library has to offer, I think we’ll be very pleased and want to spend a whole lot of more time there. You want to know something else? Once we establish a pattern of self-educating ourselves at our local free public libraries, then we’ll see that that time and effort thing is getting easier and even automatic.

Now teens, go learn, lead, and lay the way to a better world for all of us. Remember that we can save tons of money by using the free public library. I suggest we get down there right now. And once again, thanks in advance for all that you do, and all that you will do…

 

Guide About Financial Steps For Young People

My parents taught me to earn and save money from an early age. I had a checkbook before I was 10, I was in stock market club in 5th grade and had a job as soon as was legally possible. I always balanced my checkbook, had a credit card before 18, paid it off monthly and even learned to file my own taxes. You could say I was quite financially responsible for any age. I took a risk moving across the country when I was 22 and lost my savings trying to “make it”. So when I became pregnant, I was practically starting completely over. Thankfully I already had the skills and resourcefulness to make it work. Now, with my little 3 person family, I am taking seriously all the things I could have done earlier to ensure our financial stability. Benefit from my mistake, and see if you can implement any of these now before you wish you had.

Budget Your Money

To budget your money, you first have to know what you are currently making and spending your money on. First include your bills, most important first, all the way down to expenses that vary month to month like utilities, gas, food, etc and finally fill in a month’s worth of categories such as gifts, donations, dining/entertainment, and personal care to learn what you are spending in these unrecorded categories. After you’ve made a budget of one month’s expenses, you can evaluate where you are spending unnecessarily. Perhaps there was a category out of control prior to this experiment, or your car insurance, cell phone or cable bill can be negotiated. Now you know what you need to make per month to live and where you’d like to cut your spending.

Satisfy Your Need To Succeed or Spend

Everyone should have an experience they made a financial goal and smashed it. I think it’s pertinent to future financial success. It sucks if you have children before you’re able to make and meet a goal and are now living paycheck to paycheck or have little room in your budget to save or invest. Consider making a goal before you have children so you can benefit from the experience of seeing your vision through. This can also be fun for someone who has cut a lot of the budget fat and left little room for shopping, something they may have really loved before. You can start by having a goal of a 500.00-1,000.00 emergency fund (adjust as necessary) and then saving for something you really want, a trip to visit your aunt in California, a 52-inch flat screen.

Plan Your Meals

The third highest expense in most family’s budgets are groceries, so I’m meal planning a lot now. Learning to cook and eat healthy is an important part of a single person or family’s life, saving money on that food is dire to a family’s monthly budget. You can electronically view the grocery’s stores ads online or like ours, in their app. I begin making my grocery list based on what’s on sale. If coupons are available to you, I include those in my list and try to make meals of what’s already on sale. It takes time to nail down the rhythm, but my family has shaved off at least 200.00/month doing only these things.

Make A Pantry

I would never have considered doing this as a single person, but it’s brilliant. The space you dedicate as the pantry does not have to be very large. This is where you will put canned/boxed foods and personal care items that you find greatly discounted or just to have extra on hand. Good food items to keep there are boxes of cereal, Jell-O and pudding, cake/muffin mix, Jiffy cornbread mix, peanut butter, beans and tomatoes for chili and tomato soup. I also like to keep things like extra deodorant, shaving cream, shampoo, conditioner, toothbrush, and toothpaste.

Switch To The Dollar Store

Not everything should be purchased at the dollar store, but many items can without you batting an eye about its quality. Getting used to shopping at the dollar store as regularly as the grocery store will keep you in enough of a frugal mindset to keep your financial goals at the center of your spending. There are so many items that can be bought there alternatively that I will save my favorites for another article. Just find the dollar store nearest your house and roam the aisles, noting things you’d consider purchasing instead of where you currently are for much higher cost.

Save or Invest

I owned my own business from age 22 to 24 and I didn’t want to miss out on the benefits of 401Ks being offered to employees of companies, so I went to my credit union to learn about IRAs, a retirement account for people who work for themselves. There my adviser congratulated me for seeing him so young because I “only have time on my side!”. He was exactly right. With any investment, it’s best to have the most time on your side. 401Ks are only offered to employees, so that was not an option for me. My IRA did not make any money in the 4 years I kept it, but things could change. It was still as if I had saved it! If you have the option to start a 401K with your employer, do it! Your employer often matches your contributions, which you would not be able to take advantage of working for yourself. If neither of these options are available to you, due to your employment position or lack of funds, just begin a savings account, be realistic about what you can contribute monthly and commit to it.

In one year I turned my financial situation around with my resourcefulness and inability to give up with a child on the way. When I got pregnant I was 3,000 in credit card debt and had no money. By his birth, I had prepared for him completely, paid off the credit card debt, saved for 2 months maternity leave and had a couple thousand dollars cushion in my bank account. 10 months later I’m a stay at home mom with an at home business and I’m contributing to our savings regularly, including my son’s separate account. I don’t think we’ll ever fall on hard times like that again, but in case we do, I’ll have all systems in place!

 

Why You Need Smart Decisions When Buying

‘ve made plenty of mistakes in my life regarding debt. I only wish I could go back in time and redo some of my spending decisions I made when I was younger. Obviously that is impossible, but maybe this post will help younger individuals who are about to go out and do something they might regret later in life.

I remember when I was 26, living in a nice area of San Francisco with three roommates. It was a good fun time in my life and I have several great memories from this period. I was very good with my money overall, but every once in a while something would come over me and I would do something that I would later regret.

When I was younger, I saw this new television at Circuit City (remember them?); I still remember the exact TV model. It was the Hitachi 61SWX10B and the price was $3,500. It was a rear projection television and was quite large; a 61″ unit that had a built in stand.

Of course, I was not going to go out and drop that much money on a television at that point in my life, but when I heard I could go out and get a new credit card with 6 months no interest financing I thought okay I can make this happen. My plan was to just put $500 down and then pay off $500 a month and I would get that TV without paying any interest.

I executed my plan flawlessly and I was the big man in the house; all my roommates loving that TV for all it was worth. Guest would come over and tell me it was the best TV they had ever seen and I ate it up. We watched movies, played video games, sporting events, we all enjoyed it.

About a year later, all of our lives changed and we went separate ways. Then it hit me, I was now stuck moving this massive television and the burden of moving it to my new place was quite a hassle. All my former roommates got to enjoy my big awesome television for free and they simply moved on. I was stuck with a $3,500 bill and now moving into a place that I could barely accommodate a television that size.

As it turned out, over the next couple of year’s plasma televisions started coming out and my once super mac-daddy televisions seemed ancient. Within 4 years of my purchase rear projection TVs were no longer desired at all. I couldn’t even sell it due to its large size, so when I moved I simply posted a free ad on Craigslist. Obviously, I gave it to the first interested party instead of trying deal with something that big and heavy with little to no value.

It would have been totally reasonable for me to just buy a $500 television, which also would have been a nice television, or to look into Craigslist and buy something there for an even better deal. But unfortunately, like most people can probably relate to, I had to get the biggest and best product on the market. Looking back I realize it was a very poor decision on my part.

It was clearly not the end of the world, but being 41 now, if I would have not have bought that $500 television and invested the other $3,000, today the money I spent would be worth more than $20,000 and in another 20 years, it would be close to $200,000.

These are the typical decisions that everyone makes, especially the younger society, not necessarily bad decisions, but definitely irresponsible ones. We all make them, as we don’t actually think about the long term effects of what we buy.

The key is to cut back, save and invest. It might look like you’re not building much over a few months or even a year, but continued savings over a decade or 2 can have dramatic jaw dropping effects. Do you want to give your 20 something self the latest electronics or do you want to give your 40 something self a better, easier life?

 

How To Hire Debt Collector

It is good to look for alternative ways to collect debt from your customers. However, if all other avenues have failed, you may have to use debt collectors to get your cash. Every agency is different from the other and not every one that is right for your kind of business. Here are a few things to consider.

Some debt collectors specialize in dealing with large businesses while others deal with small businesses and households. Check in your locality for the collectors that target similar clients like the one that has defaulted. The method the agencies apply has a high likelihood of succeeding in your case.

Every state has its own regulations that cover how debt collection is done and how the agencies work. It is important to ensure that you select a firm that adheres to Fair Debt Collection Practices Act. Moreover, the firm should be bonded and licensed to work in the locality.

Sometimes the firms use very uncouth means to collect the debts. This may raise legal cases if the debtor feels that the agency has acted in bad faith. The insurance ensures that you are not held liable for hiring the agency to collect the debts. Ensure you pick a firm that has a valid errors and omission insurance. It will act as your protection if you are dragged to court.

Once you have a list of a few companies, take time to compare their costs. Different agencies use different formulas to come up with their rates. Some charge a small flat rate mostly associated with pre-collection activities. You are then charged a contingency fee that is part of the amount collected. The charge is about 20% to 30% of the amount collected. Pick a company that offers a no collection no fee model.

Some debtors tend to run away with your cash and ignore your calls. Some even skip town. If this is your situation, ask if the agency you are using has a skip tracing service. This service enables the debt collector track the defaulting client even when they have not left any forwarding address.

Just remember that you shall not receive all the cash once you have hired a debt collection agency. For this reason, it is advisable to exhaust all of the other means of collecting debt before asking for help. However, if none of the other methods work, hire a firm that will collect the debts right away.