Plan Your Budget For Holiday Shopping

It is true that all of us eagerly wait for holiday shopping. But how many of us have noticed it affects our family budget negatively. So it is high time for all of us to become smart shopper and stay within our budget. Staying within your budget needs a careful planning. If you follow your list then it will definitely land up to great satisfaction.

You can keep the following points in mind while shopping in order to be smart and frugal shopper:

1. Talk to your family about holiday gift and over spending.
2. Take advice and help from your friends and family members.
3. Make proper list and plan out the entire the entire shopping previously.
4. Determine the total amount you want to spend.
5. Accordingly then you can decide how much you can spend on each item.
6. You should have prior knowledge of the price of the good and comparison sense.
7. You can check prices on internet prior to your shopping.
8. Always look for coupon.
9. Use newspaper and store coupon for sales and deals.
10. Always stick to your list.Plan Your
    
11. If you are going for online shopping make sure you know the entire deal.
12. If you want to protect yourself from debt, then avoid credit card
13. If you are using credit card, then don’t purchase beyond your immediate ability to pay off.
14. Also opt for Gift cards.
15. Gift cards are the best way to stay within your budget because they avoid temptation of buying expensive gift.

This is what I feel that everyone should follow, so that one should not cross his or her budget. If you really want to be happy and don’t want to still paying off your year’s gift purchase for the next year.

Tips To Save Money On Laundry

Laundry is one of the most important household tasks that have to carry on regular basis. But this task at times cost a lot to us and we feel financially stressed. Cleaning our clothes is necessary in order to lead a healthy and uncontaminated lifestyle. It is the task which we cannot neglect, so here are some tips which one can consider is his daily lifestyle in order to carry out this task economically.

Segregate your clothes

Our primary step is to sort the clothes according to their color and dirt. It may happen that very dirty clothes may end up damaging the good ones. Thus it is economical to wash less dirty clothes separately. This will not force you to buy new clothes very often.

Minimum detergent usage

Using right amount of detergent is beneficial both for you and clothes. Generally on box the usage amount is mentioned by the manufacturers. But since the manufacturers wants to increase their sales, so they mention larger amount than from the normal. So it is advisable to use less detergent than from the recommended one.

Water usage

It is advisable to use cold water in order to carry your washing economically. You can use lukewarm water for towels, beddings and for heavy dirty clothes.

Electricity consumption

You should opt for shorter washing cycles because it will reduce your electricity consumption. One can use longer washing cycle for very dirty clothes. Thus it will economize your washing.

Cleaning of laundry equipment

In order to have economical performance it is necessary to keep the laundry apparatus dirt free. It is necessary to clean the cloth dyer’s lint sieve after every load. You should also follow the company’s instruction to clean up your washing machine in order to eliminate calcium and detergent deposit.

Use natural air drying

It you find weather to be sunny, then it is economical not to use the machine’s cloth dryer because it will reduce the use of electricity.

Try to use clothes more than once

At least if you are using your same trouser twice without laundering them, will save your 50% of your expense on laundry. It is best recommendation to do laundry once a week.

Buy new energy efficient machine

If you are thinking to buy a new washing machine then research on internet and try to find out the energy efficient washing machine. Such washing machine will consume low level of electricity and water. This will help you to land up in most economical way of washing your clothes.

If you can take sometime from your busy schedule and think on above points, it will definitely land up to you to most efficient and economical ways of washing your clothes.

Stay Positive in Negative Market

Recent market condition has tested the patience of many of us. All of us know that stock market pass through various trends and phrases. Different waves in market whether up or down it affect our life a lot. Sometimes there is bull phrase or at times we face bearish phrase and at times there are corrective or steady market condition. Whatever may be market condition one should always know that these phrases come and go in periodic manner depending on various market factors that affects stock market.

There are various factors which affects the market condition. Some are directly related to business and economic condition of the country while some are remotely related to stock market. Such factors are:

• Overall situation of the economy of the country.
• Export and Import ratio.
• Inflation
• Price Index
• Interest rates
• Political condition of the country
• Condition of the foreign market

During Bull phrase the market is always at its best and this automatically boost the buyer’s confidence level. But definitively there will be period of corrective phrase and market will not always stays at its peak, obviously it will show downturn.

Similarly bear phrase or negative market condition does not stay too long. There are primary things which every buyer should understand during downturn market condition.

• Not to sell off your stock out of panic in order to save some off your investment.
• Wise and smart investor generally wait for right time to sell their stocks.
• Try to avoid toxic people.
• Don’t consider media as the only reliable source for stocks update.
• Always remember that the success depends on your mind set and not on outer condition of the market.

During negative market you could make hefty profit by investing on blue chip stocks that are available at much lower price. Latter on these stocks can give you heavy return.

In fact Swing trading is the right time to make profit in downturn market. T is definitely the good time for short term trading.

Thus in order to stay positive in negative market, you need to overlook market humor. You need to be focused and need to have constant watch on stocks that you have targeted.

Thinking to Invest - Why not FOREX ?

FOREX trading is very common term about which every one of us is aware. But the question is that how many of us actually know how to invest in FOREX and get profit out of it. We generally think that FOREX trading requires a complex process but in reality you need to have a little knowledge about it. It offers much advantage to investors. But as a beginner you need a little guidance and latter on automatically you can quickly start participating in the fast growing market.

When starting with FOREX trading you need to know the following guidelines:

A learning curve

As a beginner you need to focus on market condition. You should study market previously as there are chances of high risky factors. Having proper knowledge base will help you in making wise investment decision.

Choosing a broker

The next step involved is to look for broker. In order to handle your day o day transaction you need to hire an agent or broker. You should choose broker who are associated with large financial institutes like bank and thy must be registered as a Future Commission Merchant (FCM) with the Commodity Future Trading Commission (CFTC).

Open an Account

This is one of the most important steps in FOREX trading. Opening an account is as simple as filling a form and providing identification certificates. There is generally an agreement which is made between you and broker and it is called margin agreement. This agreement is made to protect the interests of the broker and it states that broker can interfere with any trade that deemed to be too risky.

After opening an account you need to deposit funds in order to start transaction. There are different types of accounts that are offered by brokers depending on your level of investment. For e.g. Mini account involves the transaction up to $250. While Standard transaction have minimum deposit of $1000 to $ 2500 depending on the broker. An advantage of FOREX trading is that such trades are commission- free. This means that you can make as many as transactions in a day without worrying about brokerage charge.

Get accustomed with paper trading

As a beginner you are always in dilemma how to operate your account and to carry out your transaction. In such scenario it is feasible for you to opt for Paper trading. Paper trading helps you to get accustomed with transaction without involvement of real money. This gives you the advantage to learn the systems and software provided by FOREX brokers. Such trading is on trail basis giving by every broker for 30 days.

Thus I can say FOREX trading is one of the good ways to invest and make money out of it. You need to have reasonably modern computer, a fast internet connection and an updated operating system. Once your account is set you can operate from any computer by just entering you account name and password. With that one obviously need to have prior market knowledge.

Celebrities Insuring their Body Part

Is celebrity body insurance is just the publicity stunt? Recently celebrity body part insurance is in hype. By spreading the humor about their body part insurance, the celebrity can generate buzz for themselves and for the company they are working. This will automatically generate media publicity.

Once in 2004 there was hype in media especially in PR Week who publish a piece about Supermarket Company, who insured the taste bud of its senior wine buyer for more than $10 million dollar in order to generate press. After this message came up six national newspapers and 3 major magazine also covered this story, which ultimately increased the sale of wine.


It is generally seen that the entertainment company do insure the body part of their celebrity.Television network generally supply their star with disability insurance, which covers any job stopping injury – to any body part. Disability insurance is one of the easiest ways to get insured from standard insurers in United State.

In order to get insurance for a particular body part you will need to turn to the “surplus line” market, which generally covers all the oddball risk which regular company don’t handle. But in order to get a high surplus line policy like Mariah Carely’s billion dollar legs deal, you need to take your business overseas.

One of the most famous insurers of London Lloyd's has provided with some of the very famous celebrity body part policies. For e.g.: Jimmy Durante's $50,000 nose, Bette Davis' $28,000 waistline, and Michael Flatley's $39 million legs.

But as far as Surplus line insurance is concerned, one has to pay high premium from that of the regular market. Entertainment Company generally focuses on standard life and disability insurance instead of specialty policies. The body part policy has become a
means of adding extra coverage for especially valuable star.


In order to do your body part insurance you don’t need to be celebrity. Common person can also order for specialty insurance if he thinks he needs it. The main drawback behind body part insurance is that you have to pay higher premium.

Budgeting Your Wedding.

It is common saying that "A happy marriage is a new beginning of life, a new starting point for happiness and usefulness" But in order to have happy beginning one need to plan his wedding tediously. Planning means one should be financially be prepared for his or her wedding. So here come the so called "proper budgeting for wedding". There are many ways where you can plan your wedding with less stress on finance and then you can spend the remaining money on your spouse for new life. Here I am focusing on some areas where you can curtail your expenses during wedding.

Pre-Requisite Step:
First thing that one should understand and decide is about budget. Planning budget efficiently will land you to proper area. It is necessary to decide, what are the important things required for wedding and then we can decide the cost for each items. In order to stick to your budget one should also avoid last minutes purchase.


Clothes:
Buying very expensive wedding dress is unnecessary expense. So spending on a thing just for a day's satisfaction is not good for your budget. As far as your cloth is concern you can opt for any one way:

1. Online purchase of second hand dress from site like EBAY.
2. Can ask from your family members if you have dress which you can wear.
3. You can also go for sample sale as most of the bridal shop would sell off the remaining stocks of the year.

Planing in such way will help you to plan your wedding budget and also you can get designer wear at cheap price.


Accessories and Makeup:
It is generally notice that girls spend unnecessary on their accessories and makeup. There are also certain ways where you can save hefty chunks of money.

1. Try to make use of your own existing accessories.
2. Always buy ring that suits your budget and obviously make sure it should be liked by your spouse.
3. You can set your own hair style and can put makeup of own will also help you to save money.


Ceremony Time:
Deciding on time, venue and guest list can also save your money. You can think on following area also.

1. Try to limit your guest list.
2. If possible try your wedding time to be on mid week and not in weekends.
3. Decision on venue should be also cost effective. Traditionally you can do simple one in church too .
4.Don't spend unnecessary on flower decoration. Choose flower which are easily available and less expensive.

The most important idea behind our wedding is to make it rememberable and special to us. But on contrary we are making it financially stressed. If you can strike the balance with the buget and wedding then you wil be the most happiest person and the wedding day will be the best day for you which you will always cherish through out your lif.

Divorced Husband Broke Financially

I would like to share with my readers a story of divorced couples. Yesterday I had a sudden encounter with the lady name Jenifer who is divorced for 15 years. Jenifer had amicable break up with her husband Mike. Mike was the principle support provider for Jenifer, and thus she was grateful and lucky.


Mike is the high-priced advertising executive, who was pulling down over $600,000 a year. Somehow he and his firm continued making big bucks in 2008 and 2009 despite economy downturns. But reality finally caught up with them recently in late 2009, when company decided to cut down Mike's salary by 50 % and then another by 50% making it $150,000. Thus it become difficult for Mike to provide support payment to Jenifer and gradually and finally the condition got more worse.




Thus few days back Mike called up Jenifer asking her to sign off on the documents so that he could take loan against his 401(K) to pay taxes and credit card bills.


I am sharing this story with you because I have empathy for this couple. Even though they make a lot of money than most of us, but still they are facing problems. Both Jenifer and Mike made lot many mistake for many years. Of course that doesn't matter now because it won't help them or anybody else.


Thus I would like all the couples to wake up and not to worse their situation like Jenifer and Marry. Following are the few simple step which I would like to recommend.



1. Track all your little expenses

Keeping eye on your expenses is first and foremost step. It is necessary for you to know what it cost to your life. If you are focusing on drastic cuts it is necessary for you to write down every expense made by you. Doting down on paper will enable you to figure out the area where you need to curtail your expense.



2. Jenifer should also earn her livelihood

If Mike's company is making this kinds of cut there is great possibilities that after some point of time the company might be on the ropes. In that case Mike will also on street. At that point of time Mike won't able to give any support to Jenifer. Well in that situation what will Jenifer be doing then? Thus if Jenifer could also earn her livelihood, then such type of situation would not have cropped up.



3. Don't sign off on Mike's request to take loan against the 401(K)

If Mike is unable to pay cash to IRS and credit card company that means he is still leaving ways out of means.This also mean that Mike is not at all a good financial planner. If such deal is carried on , this mean that half of 401(K) belong to Jenifer and Mike has to bear 100% of those IRS and credit card bills.



What you think about my above suggestion? Did I missed anything or any other suggestion you would like to give Jenifer? Please post your comments about what you do if you were in Jenifer's place.

Young Professionals - Its Time to wake up

We, the young professionals generally make huge financial mistake. It is just because we generally don't plan out the financial matter efficiently. We are generally so much engrossed in our education, career, technology and everything else that we don't give much importance on our financial goals. But I would suggest you that it is the peak time for young professionals who are at the age of 20's to mid 30's to hit high impact on financial milestone.

I know that all youngsters don't have resources to fulfill their financial goal, but at least their is no harm if we can strive to reach these goals. I can only say that, if you start thinking about your financial aspects it would fetch you with maximum benefits at your latter life. Following are my 5 suggestions for all young professionals. I would love if all of you read these suggestions and would appreciate your additional recommendations.




1. Emergency Funds

I am very sure that this recession has made us learn a lot. Even we know that at present scenario nobody's job is safe and it is equally hard as hell to find new right job. Thus it is necessary for all of us to have certain saving from our income, so that we can build our emergency fund. If all of us have the option for emergency fund it would have been much easier for us to face this sudden downturn economy. Without our emergency fund to back up, we might have to stand in a situation of high consumer interest debt. And if it had been much longer we might have to sell our home.

2. Collect your Full "Pension"

Pensions are nothing but weaker replacement of 401(K) and one should take the maximum advantage. It is the crime not to get at least your employer's full matching contribution in your 401(K) on annual basis, if one has the fund to do so. Simultaneously one should also think about funding your IRA. In fact I can suggest that IRA's have a lot more control over 401(K).

3. Don't make yourself fall with credit cards

I know that credit cards are one of the most integral thing which all of us carry. But making efficient use of theses credit cards is another important part for every young professionals. I am not saying you to ditch credit cards, unless you carry balance month to month. A good credit report will pay you profit in long run. One should always be cautious about your miscellaneous fee and penalties.

4. Monthly Budget Planning

If you want to be financially secured it is necessary for you to plan out your budget carefully. Expecting financial success without budget is equivalent to an explorer finding new land without map and compass. You should always calculate your expenses keeping in mind your income sources. You should always have an eye for investment too, which can yield you future benefits.

5. Contribute to a Roth and a Traditional IRA

One should always look for a discount broker who can assist you with no-fee IRA. Both IRA and Roth can give you the benefit to split your tax benefits between your present and your retirement.

Thus I would suggest all young professionals to wake up as early as possible and opt for healthy financial goals. Please let me know if you would like to add other ways.

Educate Children on Money Mangement

Money management is not only important for adults, but equally more important for children. Children should understand the value of money from very initial stage. Children who are aware of importance of money will always mange money efficiently and will spend it wisely. Thus educating children about money management is very important as soon as they enter into young age. Thus here I would like to discuss about some of the ways which could help you to educate children about money management.

1. Get saving account at very young age
It is important for children to have their personal saving account from their very early age. This will help your children to understand the importance of money and usefulness of saving it.We can open their saving account with a small amount of money at early age. Such accounts does not charge any monthly fees since these are for children below 18 years.

2.Make children do chores to earn extra money
Children get more happy and satisfied if they get extra money from doing chores. This will help them to be responsible adults in their later life as they will understand how to make their own bed. Children love to get incentive and thus this extra income earned by then will be more value for them since they can get it on regular basis.

3. Habit of purchasing things from their save money
Children should always have the habit of getting things from the money they save. Thus this will help them to save money and will help them to realize how long it take them to get things they wanted. It will also help them to understand the importance of thing and will help them to understand to make best and worth purchase out of their money.

4. Recording their transactions on paper
Children should develop habit to write down their transaction like money withdrawn and deposit in register. This will help them to figure out the amount of money left in their account. They will never forget about their transaction since it is recorded by them.

5. Make purchases by comparing prices
It is necessary for children to understand the value of money while doing shopping. When it comes to shopping, children generally does not understand the price differences. So educating children to buy cheaper items is one of the step towards money management. As children get older make them learn to buy items in bulk from grocery stores.

6.Educate young teenagers on factors to consider while purchasing car
First and foremost thing which attract young teenagers are cars. Thus it is necessary to educate them when to buy car and how to buy car. They should check out the report at carfax.com because it can provide you vehicle history.

Thus it is my belief that if we, the adults try to take some initiate to educate children about money management, it will help your children to place in better position in future and they will grow up to good responsible adults.

Money can make or break Marriage

Getting married is one of the biggest responsibility and commitment in your life. If you are thinking to get married it is necessary for you to start discussing about financial issues with your fiancé. Money is the biggest matter which can make or break your relation. Major fights take place in relationship because couples generally don’t speak up about monetary matter.

So I will advice all couples to talking eagerly about this sensitive issue because everyone has their own ideas of martial finance and they may differ greatly. The main problem is that many of us don’t know how to talk on money matter with our fiancé. Thus I am here to give you advice and tips on how to talk to your fiancé about financial matter before you tie the knot.

• Firstly it is necessary for us to understand our feeling about monetary matter. Many of us at times get frustrated or defensive to figure out financial matter. Thus if we understand our own feeling then we will be at right position to discuss it with our partner.

• Secondly, figure out your financial situation first before discussing with your fiancé. If you can decide yourself how much you want to spend on your wedding or on long term financial plans it will help you to handle the situation reasonably.

• Thirdly, you have to be honest with your spouse when it comes to monetary matter. If you don’t share your financial feeling with each other than your relationship will end up with huge pile of debt. Thus it will help you to save you from great troubles if you are honest.

• Fourthly, you should make some benchmark or rule on your spending. It is necessary for couple to discuss about bills and to set a budget in their spending. For example you should decide on the responsibilities of paying bills on time and taking unanimous decisions on major purchases.

• Fifthly, establish your shared financial goals. Every person has its own set of mind for financial matters. You should understand the importance of money not only from your stand of point but should not overlook your spouse’s view point. You should try to come out with a goal that will work for both of you. This will help you to establish long and lasting relationship.

• Lastly the most important decision in your life is to make prior commitment. Before your marriage ceremony you may want to have private ceremony in which two of you can make this financial commitment and seal it with a kiss. This can really help put you on track to being kind to each other about money over the years.

Thus I say you that if you really follow this tip it will help you to step in your new chapter of life with calm and satisfaction. Don’t avoid talking about money just because your relationship is still relatively new. Starting to discuss it now is what will help your marriage last through all of the money issues that arise over a lifetime.

Credit Card Fraud Alert

There are different types of card fraud going on these days. So one should be cautious at every point. In order to be cautious you need to have knowledge of different card fraud which are taking place. The different card fraud can be as follow:




Physical stolen & lost card fraud:
The card which is physically stolen from your purse or from home or which is lost, can be used by the criminal posing as you, to purchase goods and services. Unless and until you don't report the loss of your card the criminal can make the best use of your card. This type of card fraud is decreasing now a days and is expected to diminish once chip and pin is fully rolled out in U.S.

Card-not-present (CNP) fraud:
It may happen that fraud may carried out without the physical existence of card. In this types of fraud the card is not stolen by the criminal in fact your card details are stolen. This types of fraud are usually carried over internet, by telephone, fax and mail order. The criminal can easily take our details from discarded receipts or he can copy our details during a transaction. This type of card fraud cannot easily detect the criminal because:

• There is no physical security feature of the card which can determine its genuineness.
• Unless and until there is PIN and signature of the card holder it is impossible to determine the actual cardholder.

This type of card fraud is one of most largest fraud that is taking place in US.

Counterfeit or Skimming card fraud:
In this types of fraud the card is printed, embossed or encoded without the permission of card company. The fraud can even take place by altering or recoding the valid issued card.This type of fraud usually take place at retail outlet, bar, restaurant or at petrol station where criminal or corrupted employee can easily skim your personal details from your card by electronically coping your data from your card electronic stripe without the customer's knowledge. The stolen information by corrupted employees are then sold on higher up the criminal ladder where counterfeit cards are made.

Identity theft on card:
In this type of fraud the criminal stole your personal details in order to create or access the card account in your name. they stole your important document like bank statement, bill etc. which are to access account in your name. The criminal can even takeover your running account by stealing your key personal information. In this case the criminal can take the chance of changing your current account details by altering your address and asking for new card and cheque books.

Thus I hope the above information will be useful for all card users and it can alert you by being cautious while using or handling cards. If every person is aware of such fraud it can stop criminal from doing such delusions.

HOW CREDIT RATING CAN ENHANCE YOUR CREDIT REPORT?

We know that credit score is a numerical expression which is based on a statistical analysis of a person's credit files, and it represent the creditworthiness of that person. Good credit score will enhance your credit report. I can say that increasing your credit score is as similar loosing your weight. So I will suggest you to please follow the following tips to improve your credit rating and thus to have good report:

Pay Down Your Credit Card

In order to improve your credit score first and foremost step is to pay off your credit card debt. Paying your credit card debt not only mean that one should try to get rid of higher interest rate, in fact you should try to keep those balances down over higher interest rates to reap the most improvement in credit score.

Pay Your Bill On Time

It is important for you to pay to pay your bill on time. Timely payment & collection will have positive impact on your credit score. Don't pile up your payments for long term.

Update Your Credit Report Timely

It is important for you to check your credit report from time to time. Sometimes it happens that your credit report is not showing your correct credit limit for your card. In that case you should go to your credit card issuer and ask them to update the list.

Become Authorized Member In Any Old Card

If your family member or your friend is using a card for past long time and agrees to add you as an authorized user, that will be an added advantage for you. The older the credit history the better will be your credit score. If your mother is using a card for 15-20 year and she adds you as an authorized user then you will automatically observe that your credit score will go up.

Enter Into "Rehab Program"

It may happen that you have taken student loan, but you are not able to pay off your amount on time in that case I will suggest you to enter into "Rehab Program". Such program will help you to get back your account on track within 12 months.

Hire Collection Agency Who Remove Debt From Report After Payment

You can adopt another method which is called "pay for delete". In this method you can get an agency who agrees to remove debt from your report after the payment is made. This method works effectively for smaller amount and medical collection.

Start Small

If you have limited or poor credit history,the livelihood of being approved for large amount is slim. Without a proven credit report, most lenders won't be willing to extend significant amount, so it its in your favour to start with smaller amount. A lender would like to see that you are financially responsible with relatively smaller amount before taking on more risk with larger sum.

Annually Check Your Credit Report

Reviewing your credit report annually is important for you. It will keep you on safer side and will help you to resolve those issues which needs to be solved sooner. Generally informations given are accurate but mistakes do happen on occasion.

Thus I would like to suggest you to keep in mind the above mentioned guidelines in order to have good credit score, which will enhance your credit report.