Starting from the first day of 2019, people started to reshuffle their budget to manage 2018 holiday overspending. The process is tough but it’ll put your finances back on track normally within 4 to 5 months. But don’t you think that your entire year budget should be organized too? Yes, of course.
It is the high time to rearrange your finances in order by following some fresh ideas and build your budget for the entire 2019.
Organize your calendar, prepare a spreadsheet, and start working on your budget. Here are a few hardcore tips you should consider.
It’s the best method you must apply while creating your entire budget from scratch. Do not add expenses or subtract costs from your existing budget plan for 2018. The clean slate approach is a comfortable way to build a budget, giving importance to each and every expense required for you.
Don’t forget to add expense that has a profit-driven purpose, known as zero-based budgeting.
Your credit score has an impact on the interest rates while you apply for credit cards, mortgages, and other important loans. Having a bad credit score may ruin your budget. It may also prevent you from getting further credit and gradually increase your interest rates.
In case of identity theft, you might be getting huge unpaid bills as some crook might have created new credit card accounts in your name. As a result, a huge credit card debt may ruin your credit score totally along with your finances. So, it is important to improve your credit score and check your credit report regularly for any errors or signs of fraud.
If you have anticipated any big expenses coming nearby like – tuition fees, license renewals, home renovation, car payment, grocery bills, cable bill, etc, asap add that expense into your budget plan. Do not wait until you get the exact bills over your head. You may not have enough time to manage these expenses by manipulating your current budget.
Don’t forget to include positive items as well. Add your income rise or unexpected fund which may help you to manage a monthly budget easily for a couple of months.
Many people follow a budget plan for handling the expenses only. They put savings on a secondary priority. They estimate expenses and save whatever is left after paying off the bills. But, the best approach is to do the opposite. You may save first and spend later.
You may save a minimum of 15% of your paycheck every month and start doing monthly expenses from the remaining 85%. This way, you’ll force yourself to maintain a budget within limited money along with saving a fixed amount every month.
You should have clear data on your last years’ unfinished financial goals. Combine those unfinished goals with your current financial goals for this year. Consider adjusting your budgeting method. You need to have a proper idea on whether or not you need to reduce your costs, increase your savings, pay off your debts, or adjust other resources.
This way your old data on the previous year may help you to track and allocate this years’ budget.
Stick to your budget throughout the year, and modify your strategies if an emergency happens. You don’t need to be a financial planner to successfully manage your budget plan. Follow above given tips, do your hard work with proper discipline, your finances will shine in 2019. Best of luck.
Your credit score is the most important aspect of your financial life. Without a good credit score, you won’t be able to get any loan or even opt for a decent job. Sounds freaky..isn’t it? Yes, your employer may also check your credit score while appointing you for his/her company.
So, basically, having a good credit score is essential for everyone.
Many of us didn’t know having a good credit score can actually save your thousands of dollars. How? Check out the below-given benefits to get the idea:
a. Lower interest rates on credit cards
One way a good credit score can save a lot of money from your wallet is on credit card interest. A good credit score may help you to get lucrative rates on popular credit cards, which will save a good amount every month on interest if you carry a balance. It is best to pay off your entire balance every month if you want to avoid incurring credit card debts.
This strategy is very helpful to avoid costly interest fees, and also helps to improve your credit scores.
b. Pay less on your mortgage
Good credit scores can help you to save money on your mortgage costs. If you have a good credit score, your mortgage lender may offer you a lower down payment and lower interest rate. For most of the homebuyers, the savings in mortgage interest fees is one of the biggest benefits that a good credit score can give them.
c. Payless insurance premiums
Your credit scores can help you to lower your insurance premium on an auto or homeowner’s policy. In many states, insurers prefer those credit-based insurance scores that can assess the risk of filing claims on your policy. If you have a good credit score, your positive credit activities such as on-time payment may help to get a higher credit-based insurance score. So, technically it’ll lower your insurance premium rates. Negative credit activity, such as a high amount of debt, can badly affect your credit-based insurance score and your insurance premiums can be higher.
d. Good interest rates while taking out student loans
Borrowers, especially students may save as much as $19,000 over the course of their loans by refinancing their federal student loans through private student loans. Normally, if you have a good credit score, private lenders may allow you lower interest rates on student loans. Consumers or students with good income and good credit score may refinance their student loans to lower interest rates. But they must have an excellent credit score to get the best offers with student loan refinancing.
e. Other credit card benefits
The option for savings isn’t always available in form of low monthly payments. Having a good credit score may have lots of other rewards and bonuses. Having a good credit score may give you benefits such as cash back on shopping, or airline miles while traveling if you use a credit card for making the payments. With higher credit scores, you may become eligible for higher bonuses and offers. These rewards and perks may save you hundreds or even thousands of dollars when you are going on a vacation.
So, what are you waiting for? Try as best as you can to build your credit score and refrain yourself from the activities that may harm your score. Good luck.
Veterans Day is a the perfect occasion to enjoy and celebrate the service of brave soldiers who have sacrificed too much to protect ourselves. Those brave men don’t serve the nation for recognition or money. So, it is great that many people, companies and organizations planned a such special day to honor their services.
Today we will talk about various discounts and offers available in veterans day 2018.
But first you need to know what kind of ID proof you may provide In order to access the generous Veterans Day discounts and freebies.
Some places also accept a membership photo ID card for a Veterans Service Organization like American Legion, VFW, DAV, AMVETS, etc.
Now, let’s check out some free meals on the occasion of veterans day:
From 5:00 PM to 9:00 PM, Golden Corral will be providing Veterans Day free meals and a beverage to the veterans and U.S. military person on current active duty.
No identification is required to become eligible for free beverage and dinner buffet.
Hang out at Applebee’s on Sunday, November 11, 2018 to get your Veterans day free meal. The offer is valid on this day only, until they are closing.
Applebee’s will be giving out Veterans Day free meals and a beverage to veterans and soldiers on current active duty.
Visit Chili’s on Sunday, November 11, 2018, and get your Veterans Day free meal. It is free for all veterans or an active military personnel.
You’ll must provide proof of military service to get your Veterans Day free meal.
The free meal is on Monday, not Sunday. IHOP will be providing this service to veterans and active military personnel with a free stack of Red, White, and Blueberry pancakes.
People must show proof of their military service before getting this offer. They may also wear uniform, it’ll be considered as an ID proof, like a military ID card.
Texas Roadhouse will be offering Veterans Day free lunch on Sunday, November 11, 2018. It’s solely for active military personnel, or retired military men.
This is for dine-in only, and the timing may vary as per location. So, check the exact hours to a local Texas Roadhouse for specific details.
Now let’s check out some free services:
Over 100 national parks will waive off admission fees on November 11, 2018 on the occasion of Veterans Day. No ID required, anybody can enjoy the free admission that day.
Veterans and active military personnel can enjoy a free haircut at any participating Sports Clips on Sunday, November 11. Veterans need to show proof of service to become eligible.
Sports Clips is also giving $1 from every haircut as charity to the Help A Hero Scholarship Program.
“Grace for Vets” is a non-profit organization, who is providing veterans and service personnel a free car wash on November 11, 2018.
Military veterans and active army personnel will be getting free access to SeaWorld theme park.
This offer is valid only for army men having military service IDs. However, they can’t get free admission at the gate. They have get it through the seaworld website by logging in with a special Troop ID.
Veterans and active military men can enjoy playing golf absolutely free on Veterans Day (from 8 AM to 9 PM) at the Foster Park, Shoaff Park, and McMillen Park golf courses in Fort Wayne, IN. They must bring photo ID card with them.
Veterans can’t get free electric carts with this free offer.
On this veterans day – November 11, between 10:00 AM and 6:00 PM, Harley-Davidson Museum is offering free admission to all veterans, active army people and their families.
Veterans have to show a valid ID proof which also allows an additional adult and a children under 18.
Regular admission is $20 /adult, and $10 for kids within 5-17 years old. There is no entry fee for children under five.
Things you should check before going out:
Yes, before start enjoying on this veterans day 2018, you should check out these things.
If Squanto never offered the pilgrims, coming from the other side of the world, a place to stay and food to eat, then thanksgiving day would not have taken the form as it is today….
It was a long difficult time of suffering, and a brief history of charity and love, that made the foundation of thanksgiving. If you don’t know who’s Squanto, then let me tell you, ‘he was the dude, back then’.
When the english pilgrims stepped down from the merchant ship Mayflower on Cape Cod, they were welcomed by heavy snow, draught, unfavorable conditions, and other threats from nature.
That’s exactly when Squanto appeared. A tribal man from the jungle, had feathers on his head, and spoke broken English.
He offered the dying and weathered englishmen shelter, and food.
Squanto taught them how to plant crops and how to beat the harsh weather conditions of the Atlantic.
So, now it was time for the englishmen to pay thanks and show gratitude to Squanto and his native american tribe.
It was then, that the first thanksgiving season was observed, where food, fresh harvests, and other household objects were exchanged among the people of the native tribe and the pilgrims.
Then after 2 centuries, our former president Mr. Abraham Lincoln officially declared a special day that is to be considered a holiday and should be marked as thanksgiving day.
Since then we have been celebrating thanksgiving each year, where we invite our family members and friends, and have big feasts and get-togethers.
But are all of us actually celebrating this festivity the way it’s meant to be done? Guess not. Thanksgiving itself means to show gratitude and give thanks, which many of us don’t follow.
In this blog post however, it is a question of finances.
I believe, this thanksgiving it’s time for us to offer gratitude with an act of charity so as to respect our financial independence, and say thanks to the Almighty, who makes it possible for us to earn and live!
What should you do on thanksgiving?
A little charity is what I am asking you to do. Nothing more.
As you receive your paycheck for this month, try to scrap out a little percentage (say 5% or 10% – even 1 dollar will do), and donate it to some charity foundation or association.
There are numerous charity organizations in our country that you can donate to.
Even your local church will pull out the job too. Just go ahead and do the charity. Offer your thanks for the financial happiness you are experiencing in the present time!
Trust me, your thanksgiving will be the most blessed one, and can’t get more better if you do some charity!
But that’s not all. Charity is one part. Do you know how charity influences better finances?
I recently went through a few blogs and articles on psychology and finances. They are defining charity and donations at a different level.
It’s said that when you give away a portion of your money for moral investment, it brings in happiness and influences you to have more wealth, so that you can receive more happiness like this in the future by donating more money.
Charity is an investment. Not something that will give you good returns in terms of money. But it ensures that you are sharing your wealth for worldly reasons.
Obviously you can ignore this belief, but remember that charity will surely force you to have more income, and will give you a strong reason to sustain your existence.
Life is short mate. You are born today, and you die tomorrow, before you even know it.
Hence do something, for which you will never leave any regret behind, when you are gone.
Have a wonderful and happy thanksgiving.
It is the age-long truth that we all came empty-handed and we all will go empty-handed. What matters the most is what lies in between!
We are all meant to live in joy and happiness. That what makes us feel good! Makes us content!
Satisfaction, pleasure, happiness, is what we all search and thrive for! Our times are limited. It is now or never. Everything’s ‘happening’, not ‘happened’ neither ‘will happen’. So, live the present in complete harmony.
But there’s something weird in the middle of everything! People believe in possession instead of sharing!
Hence I came up with this topic that will try to explore what makes wealth so important – that we gotta fight hard to build it, while in the end we will possess nothing and say goodbye!
Why do we need money?
We can completely survive without money. But what will then value the hard work we do. The work that gives some productive output while utilizing the costliest of everything, ‘Time’!
We all need something in return! This world is a complete give and take! Hence to unify everything, we need money!
And everything’s worth a certain amount of money! Money has the purchasing power!
Hence money can technically buy anything that’s not an emotion and that lies under human jurisdiction!
We need a house to live, food to eat, water to drink, electricity to bring lights to nights, and so on!
We are all working for each other. Some plow the field, some sew clothes, someone’s supervising the turbines so that we never run out of electricity, and the list goes on and on.
So monetary wealth is important!
As you can very well see, if you are not a productive member of the society, you can never understand the worth of money.
Only those who have done something productive, have valued money!
Don’t expect to get your pair of jeans for free, the daily bread for free, or rather anything for free.
Do the hard work, walk the tough road, get paid, and buy what you want and desire!
So why build wealth when in the end you are dead and can’t have anything?
Because unless you have a pleasurable life, you won’t have a pleasurable death! A wise friend of mine said it’s better to die in a golden bed rather beside a sewage!
We want satisfaction and happiness. If we can’t claim anything on this earth as ours, then our reason to live is nil!
Hence don’t get carried away by this fact that “there’s no need for anything, as, in the end, it doesn’t really matter.”
Well, in the end probably it won’t matter, but as of now, it does matter!!
Your tools to build wealth?
Consider ample savings. Claim as much money as you can and make it rightfully yours. But obviously not via evil means.
Savings and investments are what you should do. If needed, switch to a better job that pays you well and that offers growth!
Have more income to experiment with more money! Your aim should be to build wealth that can compensate your daily needs, even if the market hits high rates of inflation, and you have no source of income!
Take seriously your retirement savings and always pay attention to what inflation can do to your money!
So, build wealth to live for the present and not for the future!
Build wealth even if in the end it doesn’t really matter!
Twenties is the right time to practice good financial habits. Because, at this age every one should prioritize their finance in order to make a smooth financial life. If you’ve a habit of spending more than what you earn, it would be really difficult for you to fight with debt. The major reason that people incur debt is because they don’t know how to live within their means. If you have a couple of credit cards in your hand and indulge into heavy shopping without thinking about future consequences, then you’re in trouble. Once you fall in debt, you’ll realize how difficult it is to get rid of it. It is better that you start building new habits to become a money saver. My article can give you some suggestions.
Financial habits you can build in your 20s
Here are the 11 habits that can help you stay financially independent not only in your 20s but throughout your life.
1. Set up a goal
You should have some reasons to save money. Think what do you want? A home, financial independence, getting rid of your student loan debt . Take your first step and achieve one by one. Your desire will inspire you to save money and thus you can build a good money habits as well.
2. Give yourself a deadline
Always fix a date by which you can meet your goal. This will give you a push to save money. Think about your goal once a day. Thus, you can avoid big expenses and stay within your budget.
3. Create budget and modify accordingly
Budgeting helps you spend less than what you earn. This helps you to save more as well. As you expend less and save more, you incur less debts and even if you do incur some, you’ll have the money to pay those off. You’ll have to make a list of your income and your expenditures in order to create a budget . A budgeting calculator can help you prepare your budget. If required, you’ll have to analyze and also modify the budget from time to time as per the changes in your income and your expenditures.
4. List items of your requirement
At the beginning of every week you should list the names of items you would require throughout the week. This list should only include items of necessity and not luxury. You should then visit the mall once a week to buy things you’ve written down in that list. You should remember to carry the list with whenever you go for shopping.
5. Use cash for shopping as much possible
One of the major reasons why young people get into debts is credit cards. When you’ve a credit card in your hand, you can barely resist the temptation of buying anything that catches your fancy without thinking whether or not you at all need it. Instead if you use cash for purchasing, you would not be able to spend much even if you want. This is because you cannot carry too much cash always.
6. Stay within your means
You’ll have to change your style of expenditure in order to save money. That is, you’ll have to become more disciplined and lower your expenditures as much as possible. In addition, lower the usage of credit cards as these incur higher debts.
7. Make a habit of using coupons
Coupons are a great way of saving money. You can collect coupons from newspapers, magazines and even some websites which allow you to download free coupons. Thus, you can use these coupons to buy items on discount. Talk to your parents or elderly persons to get some information about couponing.
8. Make your own food always
Eating out, ordering food or buying lunch can make your pocket considerably lighter. It is better you skip eating out except for those very rare occasions when you want to go for dinner in a restaurant to celebrate anything. You should also carry brown paper bag to office so that you don’t need to buy food.
9. Set up an automatic savings account
Set up an automatic savings account to avoid spending money on something else. You can ask your employer to directly deposit a certain amount of money from your salary into the savings account. Pay yourself before paying others. Start small with just 1%-2% of your salary. Once it becomes a habit, you’ll see how fast your money grows.
10. Fight with debt
You should work on your financial obligations as soon as possible. The sooner you pay off your debts, the quicker you can start saving money. Try to pay the high interest debts first. Try to fix your credit card and student loan debts now.
11. Give priority to your career
Take your job seriously because your profession will give you a smooth financial life at the age of 30. A good job is always a steady source of income. Work hard and acquire advanced skills in order to stay financially secure in the long run.
Try to learn more about banking, investing, handling finances and so on. Read journals and financial magazines. Visit good personal finance websites and follow financial market on TV channels. These all are good habits you can build in your 20s. Thus, you can discover your own ways to deal with money as well.