8 Simple Ways To Save Money

By Marc B. Entz 

Sometimes the toughest issue regarding saving money is simply getting started. It may be tough to work out easy ways that to save lots of money and the way to use your savings to pursue your monetary goals. This bit-by-bit guide to money-saving habits will assist you develop a practical savings set up.

1. Record Your Expenses

The first step to saving money is to work out how much you spend. Keep track of all of your expenses-that suggests that each coffee, newspaper and snack you purchase. Ideally, you'll be able to account for each penny. Once you have got your information, organize the numbers by categories, like gas, groceries and mortgage, and total every amount. think about using your credit card or bank statements to assist you with this. If you bank on-line, you'll be able to filter your statements to simply break down your spending.

2.Create A Budget

Once you've got a plan of what you spend during a month, you'll be able to begin to prepare your recorded expenses into a possible budget. Your budget should outline how your expenses serve to your income-so you'll be able to set up your spending and limit overspending. additionally to your monthly expenses, make sure to consider expenses that occur frequently however not monthly, like car maintenance. find a lot of info concerning making a budget.

3.Plan on Saving Money

Now that you've created a budget, create a savings category inside it. attempt to put away 10-15 % of your income as savings. If your expenses are so high that you simply can't save that a lot of, it would be time to chop back. To do so, determine non-essentials that you simply will spend less on, like amusement and eating out. We've place along concepts for saving cash each day as well as cutting back on your fixed monthly expenses.

Tip: Considering savings a daily expense, like groceries, could be a good way to strengthen good savings habits.

4. Choose Something to Save For.

One of the simplest ways to save lots of money is to set a goal. begin by thinking of what you might need to save lots of for-anything from a deposit for a house to a vacation-then find out how long it'd take you to save for it. If you would like help determining a timeframe, try Bank of America's savings goal calculator ( click here).

Here are some examples of short- and long-term goals:

Short-term (1-3 years)

- Emergency fund (3-9 months of living expenses, just in case)

- Vacation

- Down payment for a car

Long-term (4+ years)

- Retirement*

- Your child's education*

- Down payment on a home or a remodeling project

*If you're saving for retirement or your child's education, think about putting that money into an investment account. While investments go along with risks and may lose money, they also produce the chance for compounded returns if you intend for an event far earlier.

5. Decide on your Priorities

After your expenses and income, your goals are probably to possess the most important impact on how you save money. make sure to remember long-term goals-it's necessary that planning for retirement doesn't take a back seat to shorter-term needs. Prioritizing goals will provide you with a transparent idea of wherever to begin saving. for instance, if you recognize you're planning to got to replace your car within the near future, you may begin putting money away for one.

6. Pick the Right Tools

If you're saving for short-term goals

- Regular savings account

- High-yield savings account, which regularly features a higher interest rate than a regular savings account

- Bank money market savings account, that features a variable interest rate that would increase as your savings grow

For long-term goals consider:

- Securities like stocks or mutual funds. These investment products are accessible through investment accounts with a dealer. keep in mind that securities, like stocks and mutual funds, aren't insured by the corporation, aren't deposits or alternative obligations of a bank and aren't bonded by a bank, and are subject to investment risks, together with the possible loss of principal investment.

7. Making Saving Automatic

Almost all banks provide automatic transfers between your checking and savings accounts. you'll be able to select when, how much and where to transfer cash to, or maybe split your direct deposit between your checking and savings accounts. automatic transfers are an excellent way to save cash since you don't need to think about it and it usually reduces the temptation to spend the money instead.

8. Watch Your Savings Grow

Check your progress each month. Not only will this assist you keep on with your personal savings plan however it additionally helps you determine and fix issues quickly. These simple ways to save lots of money may even inspire you to save more and hit your goals quicker.

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Coronavirus Driving People From The Stock Market

By Michel A. Bell

The coronavirus' stock market impact is immense. It is spooking stock markets. The Dow Jones Industrial Average (DJIA) shed 12% or over 3000 points over five days, February 24-28, the largest 5-day drop since the Great Recession. The DJIA recorded the biggest single day drop (1191) during that week on February 27.

China is a key player in companies' supply chain. That's why analysts fear firms in China won't deliver parts to companies like Apple and Walmart, which will cause these firms' results to suffer. The fear of the unknown is causing panic. Stock markets hate uncertainty, and this virus comes with an abundance of uncertainty: When will there be a vaccine? How will countries contain it, and so on?

Coronavirus' Stock Market Impact Could Linger

Nobody knows how long the coronavirus' stock market impact will last. But history shows us that stock markets over-react and then continue their upward momentum. Today, the rapid proliferation of the virus increases fear, so people are over-reacting. We need to pause and not rush to the exit.

Markets recovered quickly from past viral outbreaks. Will the coronavirus' stock market impact lead to a realized capital loss to you? The market change, per se, does nothing. You lose funds only when you sell below market price. Some firms' results will suffer in the short-to-medium term because of insufficient inventory. Other companies will gain. Although we do not know the virus' severity, judging from past market responses, caution is the key response.

Are you a value investor with targeted companies in your portfolio? Examine your goals and stay the course unless you see changes in the firm's intrinsic value. Have you been speculating, looking to make a quick buck with a margin account? If so, you will have a challenge because banks will call your margin. That's the inherent risk when you use a margin account to speculate.

If you are not a speculator but a value investor, now could be the perfect time to identify value stocks and select those at bargain prices. There will be several. Whoever you are, be cautious, reject the herd mentality, and reflect on these matters:

Stay The Course

Review or develop an investment goal and plan before you adjust your portfolio. Why have you been or do you wish to invest? Your reason will decide your investment strategy. My preferred strategy is to buy blue chip equities with a long history of increasing dividends. I hold these shares, review their fundamentals from time to time, and act when there is a permanent change.

You will find value stocks today. Market fluctuations provide a great opportunity to buy solid companies with good track records. Remember, you lose, or gain on sale only, not when markets fluctuate.

When your investments' intrinsic value change, confirm your strategy, and sell your holdings, even at a loss; don't time the market recovery. The market could be down for several years like the Tokyo Stock Market, which has been below its bubble heights for over two decades.

Don't let generic asset mixes influence your asset allotment between stocks, bonds, cash, commodities. You are unique, and your mix should fit you at your life stage. Think before rushing to so-called safe-haven commodity assets such as gold that has no intrinsic value.

If you are in the retirement red zone, five to seven years to retirement, your goal must be capital preservation, so avoid the stock market.

Don't panic: focus on your goals, plan, long-term strategy. Update these and ensure they fit your needs and your risk profile.

This, too, will pass, but God alone knows the timing.

Michel A. Bell is author of six books including Business Simplified, speaker, adjunct professor of business administration at Briercrest College and seminary, and founder and president of Managing God's Money. For information on business and personal financial strategy, visit

How to Choose the Right Tax Preparer

By Pierre Pinkerton

You can't hide. Every year, if you work and earn a living, you must prepare and file a tax return for the IRS. Also, depending on your state of residency, you prepare and file a state tax return. Just imagine... If HR Block or Liberty Tax did not exist, who would you turn to for preparing and filing your tax return? More than this, how would you go about selecting the right tax preparer? In the tax preparation industry, you often think about:

Is the tax preparer a crook and looking to rip me off?

How do I know if they know what they're doing?

Will they disappear after tax season and leave me high and dry?

In this article, you will find 3 solid and practical tips for helping you select the right tax preparer. Use these 3 tips to reduce your stress and fear. Come away confident that your selection not only has your best interest in mind, but also will help you legally reduce your tax bill.

1. Does He or She Have a Current PTIN?

The PTIN or 'the Professional Tax Preparer Identification Number' is a number the IRS assigns every year for those that charge money for doing taxes. This number is important because you must be approved by the IRS each year to get one. This yearly approval process makes sure that preparers are not in any trouble with the IRS. You can check the current status of someone's PTIN by going to the IRS website and searching for "PTIN" in the search box.

2. Ask About Their Level of Tax Experience

This tip is really important. It's one thing to have a current PTIN, but what's the use if you don't know what you're doing? Ask about past experiences in terms of clients, job history, or even working with the IRS. At a minimum, you desire to work with someone who has either completed a few tax seasons at one of the retail tax franchises like HR Block or Liberty Tax or has gained certain certifications or credentials based on years of experience or passing an exam. Another way to screen tax experience is to ask about specific tax questions you're curious about or have had issues with in the past. They ought to give you a concise and specific response with relevant tax references.

3. What Type of Practice Does He or She Operate?

Lastly, and please don't overlook this tip. Ask about the type of tax practice he or she operates. It's OK to work with those that don't have an office or suite dedicated solely to the practice. In today's market, technology has not only changed the way tax preparers work, but also where. Most preparation services are operated virtually. This doesn't excuse lack of order, professionalism, and accuracy of the tax return. Regardless of where or how the preparer works, you should have peace of mind when it comes to completing the return on time and correctly for a reasonable price; the level of customer service received with an expectation of prompt follow-up; and the ability to contact them when needed during and after the tax season.

jerichobizfinance.com provides value added consultation and advisory services for both small businesses and individuals in the areas of accounting, taxation, and financing

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Credit Repair Programs: Benefits of Choosing the Right Company and Raising Your Credit Score

By George Botwin 

There are many benefits of joining credit repair programs, as long as you stick with the ones that are legitimate. Cleaning up your credit report and maintaining a high score will allow you to keep more money in your pockets since your interest rates will be lower and you won't have to worry about getting sued. You'll be more likely to get more credit if and when you need it, and it will be easier to get an apartment. Application processes will be faster, if not instantaneous. Also, a higher credit score means you have more bargaining power when it comes to negotiating with retailers, banks, and credit card companies. Need a new car all of a sudden? A high credit score will make that easy to get.

No matter how or why you ended up with bad credit, whether it was poor money management on your part or you experienced an emergency that cost a lot of money, there still might be some things about it that can be fixed. Negative items could potentially be removed. You could contact the credit bureaus yourself and try to have them removed, but that could take some time and your chances of being successful aren't very high. It's better to compare some credit repair programs and contact the one that seems to fit your needs the best.

Use Only Legitimate Credit Repair Programs

You absolutely must familiarize yourself with the Credit Repair Organizations Act so that you'll know how to avoid scams. You do have legal rights when trying to get your credit report fixed. Before spending any money, you should be provided with a free consultation and a detailed guide explaining the services the company will perform. There should also be some sort of money back guarantee just in case you are not happy with how things are going.

Since there is absolutely no way of knowing 100% sure how the creditors and credit bureaus are going to deal with every single negative item on your report, stay away from any company that claims that it is going to provide you with specific results in a certain amount of time.

None of these programs will be able to do everything for you. You will still be responsible for making your payments on time. What they will do is help you get some of your previous credit problems resolved.

Check and see which credit repair programs are available in your area. If Lexington Law offers services in your state, you'll definitely want to consider it, as it is a highly rated and reputable organization.

To get closer to financial freedom, visit George's website: