Monday, July 30, 2012


Almost all of us want to have a financially independent life. The main goal of the people is to get rid from the debts of personal loans. When a person is free from the stress & anxieties about financial problems like having personal loans, he or she is sure to obtain a financially free life. It is the ultimate aim of each & every person having debts. This desire gives the rise of the concept of financial freedom formula. The financial freedom in a person’s life also help him or her to become rich as then the person no longer need pay the repayments of loans & can save the amount.
Financial freedom formula is very simple which means you only have to make a good amount of savings from the total amount of earned money or income.
Assessment of total income:
To apply the formula in your life you need to take a few steps, which include: making an assessment about the total income from the entire possible source, such as: salary, increments, bonuses, business ventures etc. you should have a list of both the earned & other passive sources of income. Passive incomes refers to the obtained flow of money for which you do not need to pay any effort or any active participation, for example: interest obtained from the saving funds made in the bank or any kind of investment in the mutual funds for which you will be paid with interest monthly or annually. If you are property owner & rent it to someone else, the rental amount f money is also a source of passive income.
The assessment about the amount can possibly be saved:
Then you have to think about the about the money you can save every month after dealing with all the expenses. The saving mostly needs the mindset of the person to have savings for him or herself. One must think about the needed expenses he or she must have to make from the amount of total income. The concept of saving comes only then when all dealings with expenses are accomplished. But to have the saving effort work effectively one has to make the mindset about saving money before the expenses. One can set aside a certain amount of money from the total amount of money earned for the intention of saving.
Save the money before spending:
Before saving we have to think about the monthly spending which is must for the person. For example the repayment charges of personal loans, paying monthly bills or taxes. When the must spending amount are set aside, then we have to think about on which area we can downsize the amount of spending in our day to day life & work accordingly. It is a very good practice for a person if he or she sets aside some money for saving before making the spending.
Assessing the spending:
There is another financial factor which can help you to obtain financial freedom & that includes the assessment about spending. There are lots of areas where one can downsize the amount of spending every month, such as avoiding taking any new personal loan. Appropriate & effective mindsets can make one able to have up to 15% of saving from the total amount of income. One can think about making tiny steps as it becomes tough for someone to subtract some amount of expenses for the day to day life.
Through taking the steps you can have your financial freedom formula completed. Such procedures will help you to get rid of debt of personal loans or any other liabilities as then you have the ability to pay them faster.
A firm & steady determination to have the financial control, repayment of personal loans & obtain the desired financial freedom will help a person to apply the financial freedom formula in his or her day to day life.

Elina Smith works as a financial writer for one of reputed finance provider who deals in various finance products like debt consolidation, credit cards, and personal loans for any credit score people and more.

Monday, July 23, 2012

How to Cut Down Your Car Insurance Costs

Car accidents may happen even in the most unthinkable places and may cost you a fortune, especially if you have not signed the proper car insurance policy. Many people try to get the less expensive policy on the market, but in many cases this is not a wise choice. Read the following
article and you will discover several tips will help you cut down the car insurance costs without sacrificing its quality.

Since the car insurance sector is very competitive, the coverage offer is very diverse; this means that you will have to spend quite a bit of time comparing the various offers, in order to find the best possible one. The idea is to spend your time gathering the best offers, evaluate them, and then to take a decision. Fortunately, there are many websites where you can ask for quotes.

Will the minimum insurance policy be good enough for you? The answer is a sound “no” in most cases. You should not be satisfied with the minimum insurance policy existing on the market, but you shouldn’t choose the most expensive coverage package either. As an example, the comprehensive or collision policies are pretty much useless if the car that you intend to insure
is old. If you do the math, you might discover that the amount of money paid for the insurance policy in 1-2 years would be greater than what you would have to pay for another used car.

If you are interested in getting home insured or life insured as well, ask the insurance company if they also sell car insurance. Having multiple policies signed with the same insurer will get you a good discount from that company.

Actually, many car insurance companies offer all sorts of discounts and it is very possible that you qualify for some of them. Before you make your decision, do not forget to ask the insurer if you qualify for a discount or not. For example, you may get a discount for driving only a smaller amount of miles per year, for being a good student with good marks, or for having a good car alarm.

Your driving record is an important factor that will in the end determine the car insurance costs. If you can demonstrate that your driving history is a clean one and you have not been involved in car accidents, the insurance company will reward you by offering an additional discount. On the other hand, if you have been given a lot of tickets, expect to be required to pay more money for insuring your car. Accidents in which you have been involved speak about your risk profile and will make all car insurance agencies raise their premiums.

The type of car you posses will also determine the final price that will be paid for the insurance policy. Statistics show clearly that some car models are targeted by thieves more often than the others. There are annual reports offered to the public, where you can see if the car that you intend to buy is a preferred target or not.

If you decide to install safety devices on your car, this will also have a good influence on the price that you will be asked to pay for the car insurance policy. So, if the car has air bags, automatic seat belts, anti lock brakes or daytime running lights, you might qualify for an additional discount.

Maybe you have found an insurance policy that you consider to be excellent; however, it would be smart not to renew it automatically. Spend a bit of time each year, comparing and evaluating the competitors’ offers; you might get an even better offer.

Tuesday, July 17, 2012

Rethinking The Concept Of Investment

Do you invest your money? Most of us have probably heard about the concept of investment or investing money but a good number of us shy away from it. Lots of people all over the world get intimidated by this financial concept. They think it’s just for the wealthy and the rich. Truth be told, investing is for everyone. It is actually ideal for all people to start an investment of their own in order to become more financially stable and even help manage their finances. What do we need to know about investing? What are some types of investments?

Investing And The Type Of Investments

According to the dictionary, investing is “the act of committing money or capital to an endeavor with the expectation of obtaining an additional income or profit.” It is a technique that allows you to grow or increase your money without actually doing anything. Some people think that investing is gambling. This is not true. Gambling is spending your money on bets that may or may not give you returns. Investing is placing your money on different investment deals that gives you an opportunity to derive earnings and interest. Here are some of the different types of investments that are ideal to engage in nowadays:

1. Stocks
Buying stocks gives you the chance to become a part owner of a certain business. You are entitled to receive profits or more appropriately called dividends that the business or company apportions to the owners. They can provide a steady stream of income but they are also volatile, meaning their values fluctuate daily. However, they give huge prospective returns. Just be ready for the risk of loosing some of your investment during some occasions or instances.

2. Bonds

Bonds are classified under the category of fixed-income securities or as Investopedia define it, “an investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity.” The good thing about fixed-income securities is that the payments are announced or provided in advance. The essence of buying bonds is basically to lend money to either the government or a private business. They guarantee you an interest in return and pay back the amount you let them borrow. Buying bonds is comparatively more risk-free than other investment forms. The trick is to choose stable organizations or businesses.

3. Mutual Funds

Mutual bonds are essentially a compilation or collection of bonds and stocks. In buying or investing your money in mutual funds, you are adding your resources with other investor’s money that allows all of you to hire and pay a manager, which will recommend and choose the ideal securities for you. Mutual funds are ideal for first-time investors who do not yet have the experience that some investment tools require. Just make sure to inquire about potential risks first before investing your money in a specific mutual fund.

4. Other Investment Options

These are alternative investment tools like real estate, gold, FOREX, and a lot more. There are lots of opportunities for financial growth in these investment instruments but you also need expertise and experience to back you up. Thus, it would be advisable to get them from financial authorities and experts.

Would you like to try investing your money now? Whatever type you choose, make sure to find out everything you can about the option you are availing of. Let your money grow for you. Best of investment luck to you!

NiƱa Angeli Pilapil, a bookworm by heart, is an expert in promotional products used for both marketing and personal reasons. She is employed by as their official blogger to write about topics like cheap coin purses. This dark chocolate fanatic enjoys her spare time reading books, watching movies, and honing her blogging craft. If you want to connect with her, follow her at

Monday, July 16, 2012

How To Save Money By Buying A Used Car

There’s no better feeling than buying a brand new car. It looks so shiny. The car is perfectly clean. Everything works just like it is supposed to do. It doesn’t need a single repair.
And it costs a whole lot of money!
In a perfect world, we would all be able to afford a brand new car every time we needed one. But life doesn’t always work out that way. Sure, you can take out a loan or lease a new car. But while you may be able to afford the payments, that doesn’t mean it’s a good deal financially. So you need to think about the long-term effects of buying a new car, too.
People are hesitant to buy a used car, for good reason. They don’t look as nice. They usually have some dings or scratches. Not everything works like it is supposed to. And it’s easy to get ripped off! We’ve all heard horror stories of people buying used cards, and getting a piece of junk.
But it doesn’t have to be that way.
You can actually buy a used car and get a great deal. And not just on a car that 2 or 3 years old. You can often find a very reliable car that is 5 years old, and even older. Not only will it save you lots of money on the purchase price. But you’ll also save on property taxes, insurance, and depreciation. Even though a car is a necessity for most of us, it is one of the worst investments you can make.
If you can afford a new car, great. Or if you can afford a used car that is still just a few years old, that’s great too. But don’t think that just because you buy an older car that you are getting a “clunker”. Or don’t assume that you will automatically get ripped off.
You can get a great used car at a great price. Of course, used cars have some additional risks, so you have to be really careful in choosing one. But if follow a few simple steps, you can usually find a great deal!
Here are 4 steps to finding a great deal on a used car:
1. Shop around.
Figure out how much you can afford, and do some research to determine which types of vehicles you can afford. Then focus your search on those cars. Most of them will be very similar, but if you look around you can find the very best car in your price range – the one with the lowest mileage, least amount of scratches, and even the color that you want. It may take a little time, but after you check out a few cars, you’ll know exactly what to look for, and what’s most important to you.
2. Buy from a private seller.
If you really want to save money buying used car, then it is best to buy from a private seller. You can still find some good deals from a used car dealer, but a private seller is more likely to negotiate a better price. One advantage to a dealer is that they’ll usually fix some of the obvious problems before they sell it, as they are required to by law. But in return, they’ll be less likely to negotiate.
3. Have your money ready ahead of time.
If you have cash saved up, then you know exactly what you can afford. And you can use this to your advantage when negotiating, either with a private seller or dealer. If you need financing, then you’ll probably need to buy from a dealer. Still, you should try to borrow the money before you start shopping. For used cars, financing is a lot simpler than buying a new car. But if you can obtain a loan before you start looking, you’ll know how much you can afford, and you won’t be tempted to your decision based on monthly payments, or get “fast talked” by a salesman.
4. Get the car inspected by a mechanic.
Whether you are buying from a dealer or a person, make sure that you do not take their word for the condition of the car. Not that everyone selling a car will intentionally lie to you, but it’s your money, so you deserve to know what you are buying. Even the most careful car owner won’t know when something will need repair shortly. And even if you are buying from a dealer who tells you the car passed their own “inspection” or “used car checklist” you should still get it inspected. For about $50, you’ll get a report about everything that’s working, and not working. Even a bad report doesn’t mean you have to walk away. But you can use this information to negotiate if the car needs any major work. This is the most important step of all, so if the seller tries to talk you out of getting the car inspected, walk away!
Sounds like a lot of work. But it will be well worth the time and effort. It’s much easier to just buy a used car and drive away. But if things start going wrong within a few days, you’ll be mad that you didn’t put in the time to buy the best used car possible. If you follow these steps, you’ll know that you did everything in your power to buy a quality, reliable used car!

Wednesday, July 11, 2012

Money Saving Tips for New Parents

A new baby is always a blessing, but the associated costs that new parents incur can quickly add up to a financial nightmare. From diapers and wipes, to strollers and car seats, the costs pile up fast, and catch even the best planner unaware. Thankfully, there are many money saving tips for new moms and dads.

Buying Bulk

Baby food or formula can be purchased at any local grocery store, with most of these stores offering a variety of products. The real savings though, come when you do a little research. Rather than buying 2 cans of formula, find a local wholesale club that offers 6 and 8 packs, saving more on each can. Purchase baby food pouches by the box, instead of individually, and look at saving fifteen to twenty cents per pouch.

Cut Your Coupons

If you don't mind some scissor work, coupons are your friend. And if you do dislike getting hand cramps, a simple online search for coupon codes can unearth a treasure trove of savings. There are a number of sites that offer baby products at discounts, and allow coupons to be used. If you prefer the paper versions, make sure to combine your coupons, and look for manufacturer deals on your favorite products. Remember that in most cases, every thing in a grocery store goes on sale in 12 week cycles. Save your coupons until the items you want go on sale. Then buy enough of that item to wait out the cycle, so you can buy it on sale again.

Cash Back Rewards

Use your rewards credit cards. Many credit cards have rotating categories that offer up to 5% cash back on purchases. Drugstores, Department stores and Grocery stores are just a couple of categories to keep a eye on for that 5%. In the perfect senerio, you catch a item on sale, with a coupon AND it matches up to your 5% rewards credit card.

If you are shopping online, make sure you are shopping through a rewards site like Ebates. They offer 1% - 5% on many of the merchants you will be shopping at anyway, so you might as well save a little more in the process.

Try Me Free

All baby product manufacturers want you to buy their product. Simply writing an email to the company, and telling them that you are considering using their product and requesting a sample, can often result in free product. Signing up on the company website will also make you first in line for new product samples and exclusive coupons.

Community Rules

Make sure to stay active online on websites and forums for moms and dads. With so many members looking for savings, you can be alerted to great sales before they ever reach a flyer, and a lot of online boards have clothing and toy swaps, where people give away the toys that the grandparents weren't supposed to buy, in exchange for that pink elephant that the baby can't take its eyes off.

Think Multifunction

When buying a stroller, look for a model that has an infant carrier attached, that allows you to save on a car seat for the first 6 to 8 months, depending on how much the baby likes to eat. There are also multi-function high chairs that come with a booster seat, and even a model that converts into a swing!

The Diaper Debate

Ask 5 sets of new parents which is more expensive, cloth diapers or disposable diapers, and you may get 5 different answers. The basic argument is that there is a higher initial investment in cloth diapers, but over time there are significant savings over disposable diapers, even with the cost of electricity from washing and drying. Some parents prefer disposable diapers because you can get dozens in a pack for a far lower price. It's an eternal debate, but if you have the money, or a really nice baby shower, and don't mind the laundry bill, cloth is cheaper.

Shower the People

Speaking of baby showers, that is another way to save on the big-ticket items, and even the small ones. Every little bit helps.

What about you? When you had your child, what unique ways did you find to save money?

Todd Hendrickson is a freelance writer for online, and offline publications. With three children under 5, he is always looking for coupon codes to help him save money.

Tuesday, July 10, 2012

Finance Formula for people who do not Work

There comes a time in everyone’s life when their financial circumstances become quite unfortunate. You might have to leave your job, or sell your business for that matter. Most of the people get depressed in such situations and stop trying to earn money.

While the economy is facing crisis and it is quite hard for an average man to make his ends meet, but taking some wise steps and working hard on them can help you get back on your feet in no time. Here are a few things you can do for that:

Loan for Jobless People

Many companies now give loans to jobless people above 18 years of age on reasonable terms. They just require you to hold an active bank account so that money can be deposited in it. These companies do not look at your credit card rating. Even if your credit card rating is not good, they give you loan and you can use that in many useful ways to start earning some good income again. Some companies have agreements stating that the money you’re borrowing can be used only for specific purposes but many companies do not care about this and you can invest the money anywhere you like.

Loans for the jobless people are available in both secured and unsecured forms. In the secured form of loans you have to sign an agreement with the company putting some of your valuable assets as a security against the loan. In case you don’t have any asset, you can opt for the unsecured form of loan. This loan comes at a higher interest rate, due to absence of any security. So these kinds of loans are a good way to start for people who are not working.
Now how can you use this money that you have and put it to good use? Here are some of the ways!

Start a business and sell it!

One of the easiest ways to get rich is to start your own business and eventually sell it. You need to have that entrepreneurial spirit in you to achieve this. If you’re able to realize a real life problem and can find an easy solution for this then you have created real value for the customers. But remember the hard work and careful planning that accompanies this. If you think you’re not up to it, don’t go for it as many new businesses fail to continue to the point where they would have worth.

Get self-employed: Exploit your skills!

If you have a special skill that you think you can market and then remain independent, then it is a very good and unique way to get substantial rewards! Authors, sports stars and entertainers etc. become rich the same way. Since you’re the one who keeps all the profits, so being
self-employed has greater value than working for a company. But you have to have something special to prove your worth. So if you have a skill that you think is remarkably developed, don’t just sit around wasting it!

These are just a few ways that can help you to start earning money if you’re unemployed and have no business. A few other ways that can help you make money if you are not working are:
  • Build a portfolio of stocks and shares.
  • Join a start-up and get stock.
  • Develop property and sell it.
  • Participate in local studies.
  • Work via apps that pay you.
  • Do online surveys for large companies.
  • Work with a group of friends.

The author likes to write on issues related to finance and also provides good solutions to them. He’s an expert in writing on credit card, money-making and money-saving techniques.

Monday, July 9, 2012

You Need Home Insurance Now

If you are a homeowner, then you should definitely have home insurance. It will inevitably leave you with peace of mind about anything every happening. There are even some subdivisions and neighborhoods that require you having it when even thinking about moving there. By having home insurance you are covering your house and belongings in case of any type of disaster. If a fire broke out, or if a hurricane happened to hit your house the insurance will cover the costs.

There are different types of policies and classifications available that you should know about before signing any agreements. Such as the dwelling policy which says that homes of a certain age don't necessarily need home insurance. There are many different insurance companies out there, so you should always find the one that is best suited for you and your needs.

Most car insurance companies offer home and other types of insurance policies as well. By going to a company you already know and trust you will have even more peace of mind about everything as well. They may even offer a few discounts for you. But like everything else you don't even have to leave the comfort of your own home to sign up for insurance. You can get free quotes and sign up for policies online. As technology has rapidly advanced over the years, there are many things you can do at home now.

By even getting quotes and searching around for the best policies online, you may receive more of a discount. While getting a quote they will ask you a few questions about your residence and you will even be able to compare policies from other companies as well. Everything is very easy, and if you ever feel as if you need to talk an agent you can always call them or have them call you. Though having quotes for home insurance completed online will definitely save you quite a bit of time.

Home insurance covers quite a bit of things for the safety and security of your home. Such as dwelling which means that your house is covered against damage such as hail, lightning, hurricanes and fires as well. Though it is known that separate policies are needed for earthquake and flood insurance.

Those are less common, so it would be a little bit extra. Some other structures on your property are covered as well such as detached garages and other detached buildings on your property as well. Personal property covers and protects your personal items and household contents as well.

Other things that home insurance policies cover are loss of use which typically means all of your expenses will be covered in the case that you cannot inhabit your home anymore. It will simply cover all hotel and restaurant bills you may acquire while not being able to stay in your home. Personal liability protection will cover you in the event that a family member is injured or any other property damaged occurs. And medical payments will also be covered as well. Home insurance is very important to have as you never know when any type of natural disaster will occur.

Home insurance is very important, if you are a new homeowner or if you've owned your home for a while. You will definitely need a policy as you never know when any type of disaster will occur. It is good to be covered just in case, it should give you peace of mind. And if you have any questions about getting a quote online you can always call the insurance company and speak with an agent.

Tuesday, July 3, 2012

Saving Money On A Tight Budget Without Selling The Dog

5 Ways To Save Money on a Tight Budget
You’re on a tight budget but you want to save money. It can’t be done. You’ll end up in rags. Your children will starve and you’ll have to sell the dog to pay for more coal for the fire!
Rubbish! Believe it or not most of us have experienced times when we were short of money. We’re still alive (and the dog is still in its bed).
I didn’t say it wasn’t hard to save money on a tight budget. If you’ve coming here looking for answers then it’s time for a reality check. Whether you want to eliminate debt or simply save more cash, you're going to need to work hard. Here we go…
Add Up All Your Shopping Bills

You really need to start looking at what you buy. Can you afford it? You’ll need to keep hold of all your receipts for each week and look back over them. Identify stuff that you’ve bought that you don’t need.

We all suffer from the same weaknesses. The urge to buy stuff that we don’t need is ingrained. I’ve been there. I’ve been skint to the point of desperation. You need to ask yourself what matters. Is having a coffee from Starbucks every day more important than sorting your finances?

Get Your Priorities Right

You earn 50k per year but live like a king. It’s ok because your flexible friend can hoover up all that excessive spending and all you have to do is pay the bill each month. In fact, if you pay the minimum amount of interest you’ll be able to afford another spending spree.
Please, get a grip on your priorities. What is important to you? If this means surrounding yourself with worthless bling then carry on spending until your credit rating crumbles. If you’re more sensible start prioritising the most important things in your life and throw out the rest of the crap!
Leave Your Credit Cards At Home
Once you’ve decided where your priorities lie it’s time to ditch the credit card. I don’t like easy credit as it has got me into trouble in the past. Normally I’d say cut it up and burn the pieces. Don’t be in a rush to do this.
I have to admit that a credit card is a handy source of money in an emergency. Put it in the cupboard for a rainy day or as a source of funds for disaster recovery. Don’t take it shopping for your day to day goods.
Start Walking
In 1943, a German soldier, Clemens Forrell, escaped from a PoW camp in Siberia. He then spent 3 years trekking thousands of miles until he reached his homeland. His odyssey took him over ice covered plains, freezing tundra and mountain ranges and he successfully evaded Russian troops for months on end.
Walking into town to get your weekly shopping doesn’t seem like such a hardship now, does it?
Sometimes it’s nigh on impossible to keep any money aside. Charities are there to help. Don’t be too proud or frightened to ask for help. If you are at the bottom of a financial pit don’t jeopardise your mental or physical health just because you don’t like the word charity!
5 ideas to help you save money even when you're on a tight budget. You might disagree with some of them but you know they make sense for you and your dog. My name is James and I write for I hope to see you there sometime soon.