You are earning money at a fast clip but you often wonder where all that money goes at an even faster clip, and the reasons are not hard to find – groceries could be the villain of the show, and like a true Hollywood potboiler we need to cut that villain down to size. And you have company; millions of Americans are spending too much money on groceries and the end result is skewed budgets and haphazard finances.
It would be really nice if you could curtail spending on groceries without compromising on a full stocked refrigerator. If that sounds impossible, think again because experts say you it is possible with a capital P.
Here are some useful tips that will make it promising for you to contain expenses on your groceries without breaking the budget or busting the bank:
Try shopping at budget stores or convenience stores
Everybody loves shopping at supermarkets and glitzy malls but the problem with visiting these high profile shopping extravaganzas is that the sheer variety of commodities and brands on display will overwhelm you with choice, and the likelihood is high you will end up lugging a crateful of items you never intended to buy. Basically, supermarkets are living excuses for impulsive shopping that drive grocery expenses up the roof.
Instead of supermarkets why not try shopping at Qik car title loans stores that are tailored exclusively for low price shopping like the popular Aldi and the ubiquitous Bottom Dollar Food. It’s designer shopping but with a huge difference; here prices are not for tailored for royalty, they are designed to fit leaner pockets and meaner budgets. You don’t have to restrain your entire shopping experience to these convenient outlets but you can buy items in bulk at cheaper prices.
The icing on the cake is that your children might find their favourite brands in these outlets, so you are not sacrificing quality at the altar of cost reduction. In fact shopping at these outlets redefines your attitude towards money and budgeting in a positive way, meaning that you will be directed towards consolidating your purchases within your given budget.
Admittedly visiting these stores is an extra effort but it an effort that is well worth the botheration. If you pre-plan your outings and prepare a list of items that you need in advance, you will never go wrong.
Keep an eye out for bargain shopping and discounts
In the lazy old days one had to reach for the news dailies to start clipping coupons, but now it’s much easier because of the reach and accessibility of the internet. You’ll find coupons everywhere associated with nearly every commodity, appliance and service you can imagine. Food, vegetables, cereals, pet foods and an unending stream of supplies is available at the click of a mouse through coupons online, directly accessible to you to pick and choose at leisure. Never hesitate to pick and print as many coupons as you can, using them as and when the need arises but always being mindful of the expiry date.
Grocery shopping can be expensive on an empty stomach
It’s a neat psychological trick that you can put to the litmus test each time you try it – go to the supermarket on a hungry growling stomach and you will find yourself loading your cart with all kinds of goodies that look great just because you happen to be hungry. Now repeat the exercise another day on a full stomach eating just before departure. You will find shopping an entirely new experience. You will be precise, level headed in your decisions, and you end up buying just what you wanted without wasting an extra dime.
The last word
One has free oneself from the attitude that groceries are most essential to daily upkeep and therefore no expense should be spared to keep your fridge and larder well stocked to meet any situation, as the family should never go hungry. Frugality is what should guide you when you purchase groceries or for that matter any other item of necessity. Buy on a need-to basis and not with a must-have attitude. Be very clear what your needs and wants are don’t be afraid to say no to yourself when your wants play spoilsport. It’s OK to pamper yourself and the kids occasionally but not make a habit of it to the extent it ruins your finances. Years down the road your family will be grateful for the savings you generated.
nullThe variable interest rate is one of the options available to people on the lookout for creating new mortgages. It came into prominence when fixed home loan interest rates moved beyond reach. Variable interest rates became controversial during the subprime crisis because the majority of homeowners opted for low introductory interest rates that eventually crept up forcing many people to default on their home loan payments.
People are rediscovering the variable rate of interest
On the surface it would seem rather risky exposing yourself to a rate that fluctuates. But for many it is a risk worth taking if the introductory rates are reasonable enough to make them eligible for home finance. Moreover, the types of variable interest rates operating today are markedly different – they are more like hybrid interest rates where the initial fixed rate of interest is pretty low for a period of up to five years. Following that initial fixed interest period the rate starts changing against its index. To avoid distress to the borrower the rate changes are put through only once every three, five or seven years till it tallies with the index.
So for a pretty long period the borrower faces a stable fixed interest rate regime that allows him to keep his borrowing expenses well within his budgetary constraints. In many plans it is observed that the fixed rate is lower if the initial offer period stays low.
To improve our understanding of the variable rate regime we explain the terms that are commonly used:
The Index rate
This is nothing but the yearly rate for Treasury (CMT) securities, or the Cost of Funds http://www.qikcartitleloans.com/thank-you/ Index (COFI), or the London Interbank Offered Rate (LIBOR) which is leveraged as a threshold rate for fixing the home loan interest rate.
The Margin on your interest rate
This is a fixed percentage that is added to the index to determine your home loan rate. For example, a margin of 1% may be merged to the index of 3% to fix a home loan rate of 4%.
The Cap or maximum interest rate
This is the maximum upper ceiling for any rise in interest rate put through by the lender.
The Lifetime Cap
This gives the borrower a clear idea to what extent the interest rates are likely to rise during the period of his loan repayment. For example a 1/2/6 scenario would imply that the first rate change would be 1% followed by 2% and go all the way up to a 6% increase for the entire loan repayment period.
Getting over the “Payment Shock”
The payment shock is nothing but the inconvenience or added repayment burden a borrower faces when rates move upwards. Before applying the loan the prospective homeowner can talk it over with the loan counselor to crack the numbers and determine how each interest rate movement adds to his monthly repayment installment.
Solid reasons why homeowners refer variable interest rates:
You anticipate higher income
You have discussed with the loan officer and fully understood the implications of each interest rate change, and you feel confident that incremental raise in salary income will be more than enough to take care of higher loan repayment.
You are in the mood to sell before the rate hike hits your repayment
It could be that you are expecting a major promotion or change of residence due to career dynamics and you will be in a position to renovate and sell the home. You get the immediate benefit of lower initial interest rates and you can recoup the original investment through home sale.
You intend to move to a bigger home as your family grows
You are anyhow intending to move to a larger home to accommodate a bigger family, so it makes sense to tap a cheaper home loan that can be repaid early.
Your credit score is not up to the mark
You get time to improve your credit rating and with improved ratings you can opt for a lower interest loan in the near future.
Prices may move against you
You find it difficult to qualify for a fixed rate loan at the moment and you want to settle a good rate before the prices become unfavorable.
Anyway that you look at it, variable rates have a future and many people are finding it prudent to clinch a variable interest loan to make the best use of the favorable rates climate.
Travel is definitely expensive and major items of expenditure can be accounted for and planned meticulously through pre travel budgeting. The moot question is what do you do for expenses that come unannounced, expenses that surprise you simply because you did not anticipate them? Here are the most frequent expenses triggers that one needs to budget for whenever a trip is in the planning stage.
Not neglecting to provide for departure taxes
These are really expenses that nobody plans for. It’s levied by many countries and is payable in their local currency. Many people assume they have no need for local currency so they arrange to dispose it when they leave the country. The best precaution is to retain a decent amount of the currency till after your customs and immigration clearances are over.
Resort fees that don’t appear in the tariff sheet
In some resorts it is the local practice to club sundry expenses like newspapers, laundry, telephone calls and internet usage under a consolidated resort fee that could range in value from $15 to $35 levied on a per day basis. This has to be enquired and confirmed before you check into the resort.
The problem with expensive airport and in-flight snacks and soft drinks
You ask any seasoned traveler what or how he budgets for food; he will probably tell you that snacks and beverages consume a good share of food expenses over and above the budget that is decided for regular meals. In fact during the course of a flight right from emplaning the aircraft to air travel to exiting the destination airport, a traveler is besieged by a bewildering array of snacks sold at very high prices, most of them individually costing more than meals that won’t be available! It takes monumental determination to negotiate this sea of temptation which could otherwise destroy your wallet.
Never take airline fees for granted
Unlike other services airlines are notorious for exacting fees at every stage of the journey and for a bewildering array of services that we normally take for granted. So if you didn’t bother to check in online, or you carried baggage exceeding airline baggage allowance, you called the airline enquiry when online enquiry portals were active, you asked for a glass of water in-flight, the chances are that a bevy of fees will also be served. So you have to familiarize yourself with all airline guidelines regarding what is available for free and what is not.
Parking expenses could go through the roof
Space is a commodity which is in short supply, especially in major metros. Finding free parking space is a pipedream and sometimes the expenses charged for locating a parking spot might add up to a large figure. So it would be a wise traveler that confirms this core issue before he ventures into outdoor driving.
Roaming Charges can potentially break your back
When a person travels domestically he is usually well aware of current roaming charges for mobile phone use. But when we travel internationally ignorance can be costly, in fact prohibitively costly. Use Wi-Fi where possible instead of expensive internet packages and Skype or a chat app for calls to your home. If the stay is likely to be prolonged it is cheaper to get a local connection.
A Wi-Fi facility may be charged at some destinations
What was a free facility at the home airport may be an expensive proposition when you arrive at a foreign airport, and the best way to protect your interests is to read the airport brochures or airline website to clarify whether the Wi-Fi facility is free. This is an important piece of information because net connectivity is a must for people in transit that may want to access office data or open their personal mail. So it’s better to confirm what you may end up paying for these services.
Expenses that uncertain weather can unleash on you
Uncertain or freaky weather is a downer and expense generator in more ways than one. If, for example, you didn’t anticipate rain you may be compelled to buy a rain coat or umbrella and arrange to waterproof your baggage. Cold weather has similar drawback as you will need to change your clothing for warmer fabrics.
Ultimately, what you budget for a trip domestically or for a trip abroad should be thoroughly researched from every possible angle. Keep these basic pointers in mind to calculate the true cost of travelling outdoors in a world that charges by the minute or hour for services that you mistakenly presumed to be free.
With low interest rates and negligible growth prospects, Bank savings accounts are losing their sheen but the same is not true of Money Market Bank Accounts or MMBAs that are more favored options for the growth conscious investor.
This is what makes the Money Market Bank Account worth considering
In money market accounts the rates are linked to movements in the money market where safer government investments and low risk corporate bonds rule the roost. As these instruments yield higher rates, the rates you get for depositing funds in MMBAs is higher than regular savings accounts. These accounts extend nearly all the privileges as regular savings accounts and you are permitted to make maximum six withdrawals in a month (three by check). This increases the savings potential of MMBAs and they are very useful for parking emergency savings.
MMBAs are not the same as Money Market Mutual Funds (MMMFs)
The MMBA is a bank account that attracts FDIC coverage. The MMMF is an investment opportunity that doesn’t enjoy FDIC cover and it exposes you to market risks just like stocks and bonds.
The basics of operating MMBAs
You require at least $1,500 to $2,500 to open an MMBA unlike regular bank savings accounts. Because there are restrictions on the number of withdrawals from such accounts, banks levy stiff penalties if you exceed the permitted withdrawals, so it would be advisable to read the Bank’s rules before opening these accounts. Prepare yourself to keep funds for longer periods to make noticeable growth in savings and refrain from transacting regular payments as you would do in regular savings accounts.
Persons most suited to operating MMBAs
In case of Bank Certificates of Deposit (CDs) you are committed to depositing money for longer periods to enjoy full benefits but an MMBA gives you instant access to cash in emergencies. Purely in terms of yield on your money, the MMBA offers you a solution midway between savings accounts and CDs. You should not assume that an MMBA is a wholly risk free investment. Like stocks and bonds risk is an inherent aspect of an MMBA and you are likely to suffer losses just like stock market investments.
What do we make of Money Market Mutual Funds?
These are market related funds that are linked to short term corporate debt and up to the financial crisis of 2008 they were actually considered to be a safe bet. The crisis exposed their loss making nature. If you don’t mind exposing yourself to a higher market risk then MMMFs offer an attractive growth opportunity. Leaving aside the memories of 2008, MMMFs are still attractive to legions of investors as they feel they can make their emergency funds grow at a reasonably faster clip, and their linkages to safer securities makes them less risky than stocks.
Talking of market risks there is absolutely no guarantee that your returns will consistently outgrow inflation. You will definitely make more money than MMBAs and savings accounts but you also have to prepare yourself for the risk of losing cash. Moreover, the market regulators are chewing their nails trying to bring in legislation governing Mutual funds that will prevent a repetition of 2008. So you need to study these changes and assess how they are likely to impact your investment strategies before taking a leap of faith.
The last word
Consider the Money Market Bank Accounts as a neat compromise between low growth savings accounts and higher yield CDs, where your emergency stash rakes in a decent return to make you sleep soundly. It’s far better than parking money in savings accounts that give you transactional flexibility but deliver slow growth that just doesn’t compete with inflation. It’s less rigid than Certificates of Deposit and allows you greater flexibility in the sense that the money is instantly at your command as liquid cash whenever any emergency threatens you.
The Money Market Mutual Funds are a different piece of cake. They belong to news an altogether different category of risk that compels you to make a choice between low risk medium growth instruments and high risk high growth instruments. The best option is to park your emergency funds in better yielding MMBAs and to park a proportionately lower amount in MMMFs and stocks and bonds in a ratio that spreads the overall risks carefully. Such a division of investments is a must if you want to make serious money in the long term on your hard earned savings.
People often carry the impression that one has to be simple and frugal in living or one chooses to live a hyperactive or expensive lifestyle and that both styles of living are poles apart – it’s always one or the other, never together. The end result is that many live a deeply frugal life confining themselves to bare essentials, becoming isolated from life’s joyous pleasures. Others live life to the hilt drinking its elixir to the last dregs so to say and land up ruining their finances after a lifetime of excess. Which lifestyle would you prefer? Not so surprisingly many people would say – neither situation is helpful if pursued alone.
We can illustrate the dilemma with an example; let’s say you have accumulated a gargantuan debt; a credit card outstanding that could put your ancestors to shame, and you are suddenly forced into a life of extreme frugality to generate funds to repay that debt. Your life changes dramatically, you switch off the A/C occasionally, you are mindful of purchases, you completely avoid extravagances and you probably continue doing that and more till the debt is over. But what happens after the debt mountain is flattened? Nine on ten you emerge a wiser individual choosing to live frugally where necessary, but bringing leisure and entrainment and travel back into the family itinerary.
Perhaps that’s the lesson we ought to learn – the lesson of living life frugally, yet smartly as the situation warrants. Here are some tips to help you on that humble path:
Being smartly frugal for more.. revving up your retirement fund
Freak out on one or maybe two days in a week but devote the remaining days to aggressively lowering your bills in ways that are practical but not back breaking. Those days live a steady normal life not the fast paced frenetic type. By practicing a frugal life you may have eliminated some debts; immediately divert those loan payments to a vibrantly diversified retirement plan that takes care of your future while you work hard and enjoy the present.
Being smartly frugal to accumulate an emergency fund
Most people tend to forget that they can choose to be frugal for a specific purpose or to attain a specific goal and not let frugality take the spice and cheer out of their lives. Look around you – you may unconsciously be pursuing habits and customs that are basically unhealthy or eco unfriendly or energy wasting and all these activities could be expenditure traps sucking away your hard earned money. Take smoking for example – try dropping the habit five days a week and calculate the money saved. Do the same for other areas and see your savings grow. Next divert these savings every week to the emergency fund. Repeat week after week and watch the emergency fund rise to unexpected levels.
Frugality creates more opportunities for big ticket spending
Now that sounds very contradictory doesn’t it? What we meant is that you can use frugal living to generate savings over time that can be exploited to purchase big ticket items or finance major home renovation for instance. In fact the very act of saving up to buy the items we always wanted is an art that has been forgotten in our “Buy now and pay later” culture. Of course savings will take time to accumulate but making your dreams come true that way becomes a more fulfilling experience. Moreover, you will have a home devoid of excessive clutter.
Frugality is a weapon securing an uncertain future
It’s impossible to foresee what will happen in the future despite being surrounded by all manner of conveniences and comforts and when everything seems so cozy and normal today. But if you adopt a reasonably frugal lifestyle you will realize that there is tremendous potential in the savings that are generated by frugal actions. You will be creating money that can be set aside for the future literally for any purpose whatsoever.
It could be your daughter’s marriage, son’s business venture, home renovation, buying additional property and an umpteen number of things that you may not have thought about deeply. Supposing you suffer a natural catastrophe or a calamity or even a medical emergency, you will need to draw on hidden reserves and it will do you a world of good if you have taken sufficient care to build those reserves.
Since 1851 Western Union continues to be pulling people together. In the beginning these were provided something for communicating communications but today they offer among the worlds most effective cash exchange solutions.
Their income has ended $4billion plus they permit a person with adequate id to send cash all over the world nearly instantaneoulsy, often within five minutes.
Western Union supplies a large global community of Brokers in over 245,000 all over the world in more than 200 countries. They’re among the top manufacturers plus one of the effective and very reliable money-transfer providers. Additional opponents include: E, PayPal, Moneygramme and Xoom -silver. You will find benefits and drawbacks of utilizing them all but status and Developed Unions providers has endured the examination of time.
Several significant accomplishments in Western Nationis fast improvement include:
1871 – Western Unionis renowned Money-Transfer service-first became available.
1989 – Level-price cash exchanges became accessible via a quick collect support.
1998 – Western Union Money Exchange company grows to more than 50,000 Representative locations globally.
2000 – Westernunion begins supplying online cash exchange solutions.
2001 – Western Union starts its 150th Representative area inside it’s 150th year.
Because it completely grows totally right into a financial services organization moving money worldwide 2006 – Western Union delivers itis last telegram.
Western Union also supplies a support plan which seeks to provide back again to places and towns by which they execute company. They are doing this by helping low- occasions and profit companies both Abroad and within the Usa.
“Since its inception in December 2000, the Building Blocks has provided significantly more than $40-million USD to over 1,525 charitable programs internationally. We provide displaced kids in Mumbai, Asia, a brand new lifestyle through the Vatsalya Foundation. We’ve produced almost $1.5 million to assist children of Hurricane Katrina within the Usa, and almost $2 trillion in instant reduction as well as for restoring to assist the children of the 2004 tsunami. We also contributed towards the children of the earthquakes in Pakistan and Australia in 2006 and 2005.
They place particular significance about the following requirements: individual insurance and Training, health services all targeted at assisting individuals building changes within their standard of living. This can be a current update on the efforts to commmunities from all over the world to date:
So besides being a very lucrative and effective company additionally they place their achievement to great use. Western Union are actually even today ongoing the variety of companies available as well as there growth all over the world.
There are business sectors that do rather nicely during casinos, like tourism, fine dining, and the great times. But many of these boon-flourishing businesses don’t perform nicely during the hard times.
No one needs to spend over twenty dollars for a meal, when the economical times are tough. They simply need to eat! Value meals during downturn are significantly more than enticing. No wonder McDonald’s was doing wonderful during the recent downturn.
2. Picture. Going into a theatre looks a munificent outlay during a slowdown, but individuals favor viewing a picture to purchasing a DVD copy of it, which will be a more costly recourse. Not only did individuals go to films but also did they let films online. On-Line film leases rose during the downturn. A lot of people understood that it makes more sense than to purchase a copy to simply let a picture.
It so occurred that when the market took a free fall more individuals are inclined to purchase bites. Chocolate producers all, pop firms, and candy makers viewed increased sales during the downturn. Shrinks consider that having a bit of sweets or a bar of chocolate allows you to look back into a easier life.
Individuals did not quit use up electricity or petrol during the downturn. In the modern world, it’s difficult to think of existence without wanting energy sources. The energy industry stayed living only because you can’t live without web, refrigerator, washing machine, and TV, while individuals had to save on electric consumption during the downturn.
5. Virtual Support. More individuals are getting work online. They’d to farm out substantially of the office work, as company owners needed to cut back overhead. For this reason virtual secretaries and the terms virtual helpers became popular.
6. On-Line Selling. Many online stores additionally saw a godsend during the downturn. During the downturn individuals spent more time inside. Shopping at brickandmortar stores was like a serious sin. They instead turned to online shopping, that’s more suitable. It Is additionally simple to see reductions and promos online.
Many individuals were unable to pay dues on things purchased on installment payment basis. Failure of payment results in repossession of a thing. The seller or firm typically hires a repossession service to manage the retrieval of the thing.
Individuals had to cut costs during the slowdown and they were unwilling to purchase new things.
9. Health Care. The importance of healthcare services failed to quit during the downturn. Purchase medicines and individuals still needed to go with their physicians. No one needed to disregard their health concerns.
10. Schooling. The rise in joblessness failed to dissuade young individuals from pursuing higher education and going to school. Even professionals had to return to school to earn more abilities.