Tag

ways to save money

10 Ways To Save Money In Any Economy

Many Americans complain they are having a tough time paying bills and can’t save money because of the economy, but for many of the complainers, their bill paying was tough in a good economy. Why? They overspend no matter how much money they make.

Save Money Now

Pick up Your Savings and Budgeting Printables Here — It’s free

Therefore, I will show you several ways to save money in any economy. If they under spend when the economy is good, they can save money when times are good and then live off the savings when the economy is tough.

Also, when the economy is tough, your good habits will be rewarded with financial peace of mind, transferring the good habits you learned from the better economy to the poor economy. Since the U.S. economic status fluctuates every 2-20 years, it is best to keep a sound financial budget in good times and bad.

1. Put away your credit cards

Paying off your credit cards is one of the best ways to lower financial stress and save money. You can’t pay them off if you are constantly adding to the balance. Carry only one for dire emergencies, and pay more than the balance, to pay off the balance in a reasonable time span.

Make sure you tell the company the additional payment goes toward your balance and check your statement when you get it, to verify you were properly credited with the over-payment.

Save Money When You Invest, Get the 7 Mistakes of New Investors Here PDF Swipe File

2. Lower your cable cost

This is one of the more obvious cost cutting features. Get the bare minimum and put the additional money toward your credit card bills.

3. Plan your meals

Plan your meals for the lowest cost possible, and shop from a Specific grocery list generated from your menus. Food cost vary widely but you will save a substantial amount of money if you shop wisely from a planned menu and shopping list, and cut out prepackaged and junk foods and non-nutritious drinks. Get a free meny planner here.

Save Money When You Learn to Buy a Car The Right Way

4. Click coupons

Coupons are available everywhere, newspapers, magazines and the internet. Many coupon products are new and not always necessary. Make sure the coupon product is something you need and will use after purchase.

5. Loose the “I’ve got to have it syndrome”

Women are blamed for overspending on items they don’t need, but men are just as guilty. Women have a tendency to shop constantly, while men shop occasionally on much large priced items. It you refuse to recognize the fact that you have the “I’ve got to have it syndrome” you are your own worse financial enemy and financial peace and happiness will allude you forever. Get help with saving money, here, find your best finances.

6. Lower your rent

If paying your rent is stressful, shop for lower rent in a good area until you find reasonable living.

7. Pay attention to gas prices

When I’m out driving sometimes I notice five gas stations within a block or two, some prices are lower than others. Concentrate on the lower priced high quality gas.

8. Cell phones and contract prices vary

Many folks have several cell phone minutes left each month because they are not using what they pay for. Get the lowest available cell phone contract for your needs.

Your Savings Will Soar When You Learn to Buy a Home The Right Way

9. Turn off your lights, heat and air

Using too much energy is environmentally wasteful and uses unnecessary money. Don’t overuse on home energy cost or car air conditioning.

10. Sell your car

If your car note is difficult to pay, and you don’t owe more than it is worth, sell your car and buy one you can afford. Look at certified used cars, or a car owned by someone who kept it in good condition. Be careful to verify the car is in proper working order before you purchase. One idea is to seek a traveling certified mechanic who will go to the site of the car owner and run test to verify its quality. Get help getting out of debt here.

Fantastic Finances Tips eCourseFantastic Finances by Email

10 Ways to Save Money in Any Economy

3 Important Facts to Know Before You Invest in Mutual Funds

3 important facts to know before you invest in mutual funds

Here are three facts that are the bare bone necessities to know before you start to invest in mutual funds. In this series, I will give you information little by little about mutual funds until I feel you have a great grasp on the topic, and can choose your own high quality funds.

Free printables for small business and personal use at MsFinancialSavvy; Daily Action Form, Budgeting Form, and Savings Form

1. WHAT IS A MUTUAL FUND?

A mutual fund combines money from several investors to invest in different types of investments or investment companies. The investments could be stocks, bonds, money market instruments’ or other types of investments.

Each investor in the mutual fund hold a proportion of the investment in the way of shares. There are low-risk, mid-risk and high risk mutual fund companies, as well as low earning and high earning companies.

One mutual fund company is typically very diversified and can invest in as many as 400 companies or as few as 40 companies. Diversity is what takes much of the risk out of mutual funds.

Important facts to know about mutual funds

2. HOW DO I PURCHASE A MUTUAL FUND?

Stocks are purchased from stock exchanges, such as the New York Stock Exchange, usually through a brokerage office or online broker. Mutual funds are baskets of stocks and can be purchased from a variety of places.

Mutual fund shares are purchased from the mutual fund company itself or from a broker. When you are educated in mutual funds, which I intend to do, you can easily purchase your own mutual funds online at any number of investment companies.

Home ownership dream for women
3. WHO OVERSEES THE MUTUAL FUNDS I INVEST IN?

Registered and licensed Investment Advisers, in a team or individually, manage investment portfolios of mutual funds.

Investors have an advantage, by using the expertise and experience of the advisers.

You can go to sec.gov or finra.org to verify that your adviser is a registered investment adviser.

Lois Center-Shabazz | Course Delta Agency

Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here

Get Your FREE Fantastic Finances Tips Course by eMail

How I Build Fantastic Finances ; Read More…

Learn to Invest, Stocks to Mutual Funds

5 Frequently Asked Questions About Mutual Funds For Women

Frequently asked questions about mutual funds

5 Frequently Asked Questions About Mutual Funds For Women
I have given a lot of lectures about mutual funds for women. I like mutual funds because, if you do your research you can purchase low-cost and low-risk mutual funds on your own. Mutual funds are easy to understand and invest in. You can do it yourself once you have done some research. Here are five of about twenty-five of my most frequently asked questions about mutual funds by women I lectured to. After a few decades of successfully investing in mutual funds, I felt it is only fair that I share my expertise with you.

skills to manage money are essential, learn budgeting

  • ARE MY MUTUAL FUND INVESTMENTS GUARANTEED AT ALL?

Insurance is provided by the SIPC, which covers fraud. In other words, if you invest your money in company “C”, a registered investment company (registration with finra should be checked), and it is stolen by the President of Company “C”, you will be covered for up to $500,000 for each account, depending on the circumstances. Example: If a husband and wife have a joint account it is covered up to $500,000, if the each have additional retirement accounts in their separate names, the retirement accounts each are covered up to $500,000. Here is the SIPC insurance breakdown.

Free printables for Business and Budgets

  • WHAT ARE THE ADVANTAGES OF INVESTING IN A MUTUAL FUND?

With a mutual fund you will get professional management, diversification, an affordable investment, and it is liquid. This is one of the main reasons that I encourage investors to invest in mutual funds, after reading my frequently ask questions about mutual funds. It only takes a little research and study to master mutual funds, but because there is a learning curve I encourage you to master them first.

Dream your best home - secrets to successful car buying tips for women

  • WHAT ARE THE DISADVANTAGES OF INVESTING IN A MUTUAL FUND?

You still have costs even when returns are negative, you don’t control the investments totally, you don’t know for sure if the price will go up after you purchase – but after research you can verify that you are getting a quality mutual fund where there is a good chance the price will rise in the future. If you invest on your own you can keep cost low and more money will go to you, but if you go with a broker, you will be required to pay brokers fees which are sometimes hidden and costly.

  •  YOU CAN EARN MONEY FROM YOUR MUTUAL FUND IN THREE WAYS

Dividend Payments — A fund may earn income in the form of dividends and interest on the securities in its portfolio. The fund then pays its shareholders nearly all of the income (minus disclosed expenses) it has earned in the form of dividends.

Capital Gains Distributions — The price of the securities a fund owns may increase. When a fund sells a security that has increased in price, the fund has a capital gain. At the end of the year, most funds distribute these capital gains (minus any capital losses) to investors. Most mutual funds pay money into your mutual fund account yearly, a few pay on a quarterly basis. This means if you pull your money from your mutual fund that pays out capital gains and dividends at years end, you will lose your profits.  So, be patient, and know your payout date.

Fantastic Finances Tips eCourse, by eMail, by Lois Center Shabazz, for personal finance

Compounded Returns – unlike simple interest accounts the interest on top of the dividends and capital gains will compound year after year, giving you compounded interest.

  • WHAT IS THE NAV OF MY MUTUAL FUND

Increased NAV (Net Asset Value) — If the market value of a fund’s portfolio increases (from dividends and capital gains), and after deduction of expenses and liabilities, then the value (NAV) of the fund and its shares increases. The higher NAV reflects the higher value of your investment. The more the NAV increases, the more money your investment will be worth. The NAV value can fluctuate from month to month or year to year, the important point to look at is that it has a net increase over time.

You have two choices:

Let someone else manage your money and end up with little or nothing OR learn some simple basic rules that could turn a little into a lot over time. I provide you with all the help you need in my eBook on Mutual Funds. I even give a 30-minute free clarification session after you read this article. The eBook I have written is clear and concise, after you finish it you will understand how to efficiently invest in mutual funds.

Lois Center-Shabazz | Course Delta Agency

Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here

Join my facebook group now for tips and tricks on personal finances

Get Your FREE Fantastic Finances Tips Course by eMail

How I Build Fantastic Finances ; Read More…

I cover dozens of frequently asked questions about mutual funds in this eBook. Get this eBook and 7 more when you take the “Course for fantastic Finances”

Learn to Invest, Stocks to Mutual Funds

Why Women Need to Understand Investing Now

Investing Money for Beginners

Why women need to understand investing now

There Are No Guarantees if Women Do Not Understand Investing

Women need to understand investing now because there are no guarantees you will stay married or even get married, women need to know how to take care of their finances. This is the start of investing money for beginners. This includes learning stock mutual funds, bond mutual funds and simple index funds. With these three types of funds you can buy stocks inexpensively, with low risk and learn to read charts that are not difficult. 

But understanding investing now means you need to understand sane savings (my mantra), mega-money management (because everything is ultra-expensive), and investing (because you need to stay ahead of inflation to keep your money growing).

Save Money, Don't Get Cheated When Buy a Car

Far too many women are still taught to be financially dependent, even when you work, and many don’t get involved in family finances since you feel prince charming will be there to protect them forever. It is important to work together on finances, and staying out of family finances could have dire consequences foreither spouse. Stay involved in your family finances.

Divorce or Death Effecting Your Finances

Because you have at least a 50% chance of divorce and even greater chance of being separated from your spouse, it is imperative that you understand all the nuances of money, including investing. I focus on mutual funds because, 1. That is where my long term expertise and success is, 2. They are easy to understand once you put some “peddle to the metal” and study some of what I call, “mutual fund research”. 

Understand investing now

If you are not dependent on your husband to take care of all finances during your marriage, or an adviser if you are single, then you will know what to at any time, including with an illness, accident, or death. Dependency is not a good thing.

Many women fall victim to con artist who prey on women with money and no financial skills, because they are not familiar with the ease at which others prey on those without financial experience. Understanding stocks, bonds and mutual funds will create a knowledge bubble around you, that will keep you safe.

There are literally millions who have lost millions due to being trusting and naive. Don’t make yourself a victim by keeping your financial knowledge and skills very low. The potential for divorce or death from a spouse are a major reason why women need to understand investing.

A word about home loans for successful home buying for women

Protect Yourself Now and in The Future and Protect Your Money

There are many women who never write a check or pay a bill, after getting married. That is hard to imagine, but it exists. Writing checks and paying bills are a powerful way to keep yourself aware of family finances and the limitations of money.

Then you monitor investments in mutual funds, or other investments for savings, college, or retirement, this gives you another layer of awareness and will help protect your finances now and in the future. I speak to beginning investors all the time who can’t analyze the simplest investments. This is not acceptable. Teaching investing for beginngers is something I am passionate about so you can protect specialty finances. 

GET YOUR FREE DOWNLOADABLE PRINTABLES HERE

Therefore, women need to understand investing. Social security is meant to be a supplement, that is why the payout is very low for most people. Your 401k can be overrun with success if you know investing money for beginners. If you have a pension or get your husbands pension from death or divorce you can still benefit from know how it invest money. 

Fantastic Finances Tips eCourse, by eMail, by Lois Center Shabazz, for personal finance

When you understand investing, the chances are good you will also understand how to grow your investment retirement account and hold on to the accounts build by you or your spouse. Understanding why women need to understand investing will create an entire class of new and capable investors, who can also teach their daughters.

Lois Center-Shabazz | Course Delta Agency

Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here

Get Your FREE Fantastic Finances Tips Course by eMail

How I Build Fantastic Finances ; Read More…

Join my Personal Finance Facebook  Group For Tips and Tricks on Finance

Get this ebook and 7 more with the “course for fantastic finances”
Learn to Invest, Stocks to Mutual Funds

Should You Sell Your Home With a Real Estate Agent or Sale by Owner

Sell Your Home With a Real Estate Agent and Avoid Major Mistakes

Should you sell your home by a real estate agent or sale by owner

Here are major issues you may face selling your home by owner:

  1. Real estate agents know the process and documents you need to execute the entire selling process properly.
  2. The real estate agent will understand how to fill out all the real estate documents correctly.
  3. The real estate agent can monitor the process and make sure everything is done in a timely manner. They will get the right documents, and help you find the right mortgage and escrow company, title company or real estate attorney.
  4. Sometimes the real estate agent can negotiate a higher price for your home, than you can since they know the price trends in your area.
  5. Safety is a major concern when you do a “sell by owner”. When a real estate agent brings someone to your home, they have usually vetted them and met them at the real estate office in advance. Most of the potential buyers you let into your home will drop in randomly from the sign in your yard, so they may have sinister ideas when they come visit, and are not actually looking for a home.

I don’t recommend that anyone sell their home by owner unless you have a buyer you know already as a friend, relative, neighbor, or close associate. Make sure you research the process thoroughly before you start.

The only reason I can think of that anyone would want to sell a “home by owner” to the greater is that 1. You MUST sell to move 2. Don’t have enough equity to pay a real estate agency (the fee is as much as 6%-7% of the sales price).

I have sold two homes as a “for sale by owner” seller. So, it is possible to do a “sell your home by owner” home sell, but It wasn’t as easy as I thought it would be. If you sell you home with a real estate agent you will avoid mistakes that can cost you later.

real estate home buying success you must know your finances like the back of your hand

I made the decision since I had not owned the one home long enough to generate enough equity to pay a real estate agent commission, they other home I wanted all of the equity for a down payment on my next home.

These are the things I learned from my actual experience, my research, talking to real estate agents, and talking to others who had sold a home. I spoke with two friends who are ex-real estate agents, and they helped me quite a bit.

I also took an appraisal course many years ago in anticipation of starting a real estate appraisal business. I did not start the business, but I learned a lot about appraising homes.

Get all the basics of home buying with The Ultimate Home Buying eBook For Women
Successful home buying tips for women

First, expect to be bombarded by real agent’s eager to list your home, when they see your, “For Sale by Owner” sign. They will contact you over and over hoping that you will become frustrated with the whole process, throw up your hands and say, “where is that pesky real estate agent? I’m listing my house with her or him, yesterday!” Unfortunately, sometimes you will feel like that, but don’t give up too soon.

The following “for sale by owner” information should be helpful: 

  1. There are many legal forms, those dreaded forms! They are dreaded but necessary for the legal transfer of your property to another person. You will need legal real estate sales and disclosure documents for your home sale.

You can get these documents from a title company or you can pay a real estate lawyer to do the work for you. The real estate lawyer will provide you with the documents and fill them out correctly, for no more than an hourly fee. Verify his/her fee, the time it will take, and agree on a fee before he/she fills out the documents.

  1. Then you need to decide how much to sell your house for. If your asking price is too high, your home could stay on the market a long time. If your asking price is too low you may lose money you deserve. There are several ways to find out the right sales price. If the homes in your neighborhood are very similar, i.e. square footage, number of bedrooms (bathrooms), and similar size yard, you can use the recent sales from the last two homes like yours, in your immediate neighborhood. It gets a bit more complicated when the homes are all different, but appraisers use a similar method.
  1. You will have to find homes with your similar square footage, number of bedrooms, number of bathrooms, and if the home is on a lake, gulf course or ocean, or has a lot of land. You can also pay for a sales appraisal, use your local yellow pages for a listing of real estate appraisers. The next option is to check city or county records. Just call your local city records office and ask them where you can find information on the most recent home sales in your area. Verify which of these homes are like yours and use those comparisons to price your home.
  1. Fix up your home to make it presentable to sell. That includes electrical and plumbing in tip-top shape, clean carpet, clean walls, clean doors, an attractive front door, and well-groomed landscaping, and maintenance painting, just to name a few.
  2. Let the buyer know that he/she can pay for an independent inspection of your home, and put it in writing. The new buyer can have an inspection for plumbing, electrical, and structural soundness as well as other things. To be on the safe side, I paid for an independent inspection on my home sells, I had several things fixed as a result, before I sold the home.
  3. Let them know that they need to choose a mortgage company, you can also talk to mortgage companies up front. Both buyers in my case had never purchased a home. So, I did some research on the best mortgage companies in the area and gave them several to choose from, this just helped to speed up the process.

In real estate and home buying successOpportunities don't happen, you create them.

The mortgage company gave them title companies to choose from or they can search for their own title company. For safety purposes, you could have the person go to your mortgage company of choice and get pre-qualified, before you show your home. This way you will know, who the person is, and that they are serious about purchasing your home.

  1. Talk to escrow companies before your put your home up for sale, (in the case of fee simple states-talk to a title company or real estate lawyer for closing).
  2. Now let’s get back to those pesky real estate agents. There may be an aggressive real estate agent or two who will present you a buyer. If that agent is willing to take 3 or 4%, which very few can, and they have a buyer, then you may want to talk, if your equity covers that reduced commission.

The problem you may experience is trying to negotiate with an experienced real estate agent, they will most likely try to get you to reduce your price for their buyer. Make sure you add up your cost, 4% to the realtor, fixing up the home for sale, your mortgage sellers cost (sellers usually pay around 2%), and your moving cost. This is one of the disadvantages you face when you sell your home with a real estate agent and you don’t have much equity.

Do you have enough equity in your home to pay these costs and still have a substantial amount to put down on another home? Most homeowners who sell their own home, do so because they don’t have enough equity to pay a real estate agent cost of 6 or 7%.

Home buying the right way take skill

So, don’t let an experienced real estate agent come along and talk you into decreasing the price of your home, and giving them 3 or 4% real estate commission, in that case you could have hired a real estate agent to do everything to begin with, and the agent could get full commission for your home. If there is not enough equity to pay the commission, you will have to come out of pocket to pay the commission, using an agent.

  1. Keep yourself safe. Consider “for sale by owner” only when you can’t justify the real estate agents commission (6-7% of sales cost). Take appointments from interested buyers, get caller ID and ask for their name and address first. Send a postcard to the address your potential buyer gives you to remind them of their appointment. If the postcard comes back, “not at this address” cancel the appointment.

10. Ask lots of questions on the phone of your potential buyer. Get their name, address, and employment and salary, if they are pre-qualified for a loan or if they will pay in cash, before you give them an appointment. Ask to see an ID before they look. Verify information you are given by searching the internet for their presence. Use a private investigator to authenticate information if you can afford it.

You May Benefit from This eBook Bundle for home buying, car buying and student loans information:
Home ownership dream for women

Doing a “for sale by owner” can also be done by companies that help with the process. In other words, most areas have “for sale by owner” real estate agencies that assist you with the process to make sure the sells process is done right and they will help to keep you safe. These agencies usually charge a flat fee. Here you can “have your cake and eat it too”, you will sell your home with a real estate agent, but do it at a greatly reduced cost. The process and the contracts are different for each state, be sure to research your state.

If you have plenty of equity in your home, a real estate agent should be your first option. Make sure you get references on which real estate agent to use, don’t choose one at random. There are good agents and bad agents.

Lois Center-Shabazz | Course Delta Agency

Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here

Get Your FREE Fantastic Finances Tips Course by eMail

How I Build Fantastic Finances ; Read More…

Don’t forget your free sample copy of “The Ultimate Guide to a Great Money WorkOver

Personal Finances Should be Personal

Your Personal Finances

I was speaking at a women’s meeting about personal finances and a young woman, about 35 came up to me and ask me what are “personal finances”. I was really shocked since being there meant that she was in some way affiliated with a business she owned.

She looked me in the eye with a very serious face. I pointed to her and said “your – personal – finances”. Your finances that you take very personal. You monitor, you manage, and constantly improve your finances yourself, even if you have help. It’s crucial that you understand your own finances.

It seems like it would be common sense to understand the term personal finance. But, the definition seems to elude some of the most intelligent, and highly successful people. The proof is in the finances of many.

The workplace embezzlements of high-level employees, the bankruptcies of high-income people, the general personal finance mismanagement of people which becomes evident when they lose a job and lose all or most of their assets due to mismanagement.

I CAN SUM IT UP IN 3 WAYS:

  • RANDOM SPENDING

Take your finances serious – don’t randomly spend money. This is the most important aspect of personal finances. Some folks act as though the money they have in their checking account belongs to someone else, so they spend it until it is gone or before all bills are paid.

Then they go to the credit cards, when those run out, they go to others to borrow money and make up the difference. Then they lose relationships, which is can be more serious than wasting their money.

  • TRACKING YOUR SPENDING

Keeping track of your spending is getting very personal with your finances. Most people don’t understand how fast money goes when it is spent randomly. You can see this also when you charge on credit cards the balance escalates rapidly.

A major aspect of getting personal finance maintenance is paying cash as much as possible unless you use a credit card for points and you have the money and discipline to pay off the balance once a month. With frequent credit card use, many tend to lose track of spending, and their finances become very impersonal.

  • BUDGETING YOUR MONEY

I talk to people all the time who tell me they thought they were budgeting until they read many of my budgeting articles and the advice I give on budgeting. My program includes guerrilla budgeting.

With all the distractions, we have – advertising – expensive products – overpriced cars and high maintenance homes- getting personal with your finances means that you must create a guerrilla budget to survive no matter what your income.

Some folks think all they must do is make more money until they find out they spend more for things and get more expenses, so they are either in the same place or worse financially, as income goes up. They realize the problem is they did not get personal with their finances.

Get Budgeting and Savings Right With the Budgeting Bundle

The three eBook Budgeting Bundle; Teach Your Teen to Budget

Lois Center-Shabazz | Course Delta Agency

Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here

Get Your FREE Fantastic Finances Tips Course by eMail

How I Build Fantastic Finances ; Read More…

The Reason Your Personal Finances Should Be Personal

An Excerpt From My Mutual Funds eBook

Introduction to Basic Investing   

My mutual funds ebook excerpt

Would you give your baby to a stranger and tell them, I will be back to pick up my baby in 21 years? Make sure you take good care of him or her. Your answer should be an emphatic “no”, if you care about yourself, your baby, or your lives.

The same should hold with your financial future. Your saving and retirement investments. If you want to be successful accumulating money for future use, either the near future or the far future. Just like your children, you must know who is managing your money and what they are doing with your money, what the risk are and what the investment costs; rather stocks, mutual funds, CD’s, money markets, real estate or annuities. It all cost money to invest money, in terms of fees.

Online Investment Portals

Because of online investment portals, it is relatively easy to research and learn about investing well enough to analyze investments that your broker recommends. You can also monitor your investments at online portals and study the latest information about investments and investing.

Why I Wrote My Mutual Funds eBook

Some folks think you have to be rich to invest money. That is not true, and why I wrote the mutual funds eBook. You have choices of investing in your employee retirement account. You can save for college in an investment account, you can save for an individual retirement account, and save for general savings. All of these require basic investing knowledge by first reading this eBook and then going online to study investing in the online portals, then you can set up an account and monitor the progress.

I started investing a long time ago. First, I used brokers at brick and mortar companies. But, quickly became discouraged because I didn’t know what they were doing with my money. I worked hard for that money. I never had the fear that I was involved in a Madoff type investment firm (as you recall Bernie Madoff stole billions of dollars from investors in an illegal firm), because I used major investment companies.

Car buying for women and girls.

But, you can still lose your principle with major firms, if you use investment advisers who invest your money in high risk investments that go under. First of all, there are low risk investments that pay good returns over time, and very low cost investments, where the cost don’t eat up your returns.

After I used brick and mortar companies that didn’t tell me what they were doing with money, I started using online companies. I took classes, I read quality investment magazines, I read books, and then I talked to online investment advisers associated with my online investment company.

Investment Research

I also read a lot of investment research in my online investment portal. Knowing my investments, monitoring my investments, and getting top notch advice when I need it made all the difference in my bottom line.

By the time you finish this eBook you should know the difference between a high risk and low risk investment, a bond, mutual fund and money market account, and money market investment, and a stock. By the way, most investments and most areas of life are based on stocks. Stocks are the basic investment. Pretty much everything you use is derived from a company that invests your goods or services in “stocks”.

Mutual Funds Origin

Mutual funds are based on stocks, annuities are based on stocks. The other vehicle is bonds, the opposite of stocks. With both stocks and bonds — you have high risk and low risk in each category and you have high cost and low cost in each category.

There are other types of investments as well. The main caveat I always used is, “I don’t ever invest in anything I don’t fully understand”. I don’t care what ANYONE says, “if I can’t research it and understand it, I don’t invest in it”. I also make sure that any company I use is a registered investment company with a verifiable good reputation.

My Primary Investments

My primary investments are in mutual funds. They are especially good for beginners and busy people since they are professionally managed, you can find low risk funds, and low cost funds to invest in.

Do you want to be a vulnerable and confused person? or a Knowledgeable, happy and self-assured investor? You can start with my complete, easy to read and understand mutual funds eBook. Contact me with questions when you are done. Learn investing; From Stocks to Mutual Funds in 47 Ways.
Since mutual funds consist of a basket of stocks, I start the conversation with beginner stock knowledge.

Learn How to Get All of These Personal Finance and Investing Books FreeGet these fantastic finances personal finance ebooks for free

Join  my Personal Finance Facebook Space

Lois Center-Shabazz | Course Delta Agency
Author, Blogger, Course Creator, Investor, & Money Strategist

Interested in a Free Discussion about how I can help you with Fantastic Finances and talk about how mutual funds can help you? Let’s Chat – Make an Appointment Here

Get Your FREE Fantastic Finances Tips Course by eMail

How I Build Fantastic Finances ; Read More…

3 Small but Powerful Ways to Save Money Now

3 power ways to save

Small But Easy Ways to Save Money

Start small for easy ways to save

These suggestions are small but easy ways to save money for many reasons, here are three. Most people don’t save because they feel overwhelmed by the amount of bills and emergencies that come up constantly. Start with small savings and work your way up. Place a jar on your dresser and fill it will extra coins from your pocket or wallet daily or weekly. This is only a start, but it is doable. Before you know it your dollar jar and your coin jar will be full, use this to start a passbook savings account. This is your first savings account. Later, I will tell you about other types of accounts as you become a more advanced saver. 

quotes, bugets-the more you have the better for you

Save by saving on everything you do

The daily and weekly things you must do are the things you should save the most on. Examples are gas, groceries, and utilities. Keep a record. This takes only a little time. You can keep a short journal or a small spreadsheet. Start at home first by creating a monthly budget. The more you budget, the more you will save. At first it will not seem that way, but the longer you do it the more you will see. 

Figure out a way to keep your saving diary with you at all times and use it. The habit will become normal and before you know it, it will be second nature.

Windfalls are the easiest way to save big

When you get a big tax windfall, refund, or inheritance, use a portion to pay off or down bills (this saves on monthly cost), place a portion in savings and use the rest to buy what you need, and a small portion to buy something that is affordable and makes you happy. 

Learn car buying skills like a pro

The windfall seems natural to add to your savings. But, if you don’t get into the habit of thinking of using a windfall to get a head financially by paying off bills or buying things you need for cash, you could risk a bigger debrt trap. For instance, many people find themselves purchasing a major item they don’t need with their windfall and creating a large debt instead of paying cash. This makes your financial situation worse. Think in terms of using a windfall to make your life better.

Create a windfall diary. Know what you will use your windfall on. The more precise you are with reasons to go with each idea, the more likely you are to use your windfall to improve your life.

powerful ways to save money

Get 67 Powerful Ways to Save by Downloading this Powerful eBook Bundle Instantly

Lois Center-Shabazz | Course Delta Agency
Personal Finance: Author, Blogger, Course Creator, Money Strategist

Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here


GET YOUR FREE Fantastic Finances Tips Course by eMail

7 STEPS OF NEW INVESTORS FREE PDF

YOUR FREE PRINTABLES FOR HOME OR BUSINESS MORE FREE PDFS

JOIN MY PERSONAL FINANCE FACEBOOK PAGE

7 Ways Sane-Savings Can Protect You Now!

7 Ways Sane Savings Can Protect You Now

Many people complain that saving money, or what I call sane-savings, is a useless exercise in futility. I am told by so many people that they either can’t save money, or save it and spend it quickly. Here are some ways to engage in sane-savings, and save money that will create lasting and recurring savings accounts for you.

THINK BEFORE YOU SPEND

1. Think before you spend money anywhere — Is the purchase necessary and needed? The money you save from unnecessary spending can amount to hundreds to thousands a month, especially when it comes to credit card spending. Here is my personal mantra that you can use before you shop, this is the beginning of your sane-saving program:
Can I afford this easily?
Do I need this?
Do I want this?
Will this last?

START WITH THE JAR OF COINS

1. Many of you say you can’t save money, no matter what your income is, so here is a start. Save money in a large jar — it’s there if you need it quickly, the excess goes to your passbook acct. Start with a jar to get your savings off and run easily easy. Use a large vase, about a foot high, empty your loose change in it at least once or twice a week. When the jar is full, redeem the change for paper dollars, walk to the bank and put it in a passbook account. Leave a small amount of change in the jar for a dire emergency of gas, small food item or toll change. At this point, you are not concerned with interest or interest rates with a passbook account, you are only concerned with the accumulation of money. After you get enough money to concern yourself with interest rates you can open a brokerage account at one of the major brokerage companies and start a mutual fund for long term savings. I will discuss mutual funds later.

SAVE WHEN YOUR BILLS ARE HIGH

2. I meet a lot of people who say they can’t save because their bills are too high. Those people range in income levels from very low to very high. Some in the very high-income category tell me they don’t worry because their job saves for them through their pension or 401k plan. Saving in a retirement account through your job is great, but you must have savings for immediate needs, either for emergencies or general needs. My solution to the problem of savings is to make your savings a bill, and you will save as you pay your bills. In some cases, as you progress in your sophistication of savings, you will have multiple savings accounts, just as you pay multiple bills.

CREATE YOUR HIERARCHY OF SAVINGS

3.The most important thing when it comes to saving is that you have a hierarchy of savings, so you will always be prepared. That starts with the coins, then on to the passbook savings, then onto the investment accounts for regular savings and retirement savings. If you can save coins, you can save dollars, if you can save dollars, you can open an investment account and save in a brokerage account. It takes a little research to save in an investment account and research the right investments, but that is where I come in. As a Money Strategist, I can show you how that is done.

SAVE MONEY IN A MUTUAL FUND

4. When you accumulate enough money you can start to save in a mutual fund for your general long-term savings or additional retirement savings you can save in a mutual fund. They are also great for college savings. A mutual fund is, 1. easy to understand, 2. has experts manage them, 3. are liquid, and 4. are easy to research and track. There are many types of mutual funds and there is a learning curve, but that is one of the things I do as a Money Strategist also. I teach others how to research mutual funds.

SAVE IN A RETIREMENT ACCOUNT

5. If you are a married homemaker and your husband has a retirement account, you can save money in an IRA retirement account. Of course, some of you will have a job with social security and no other retirement, an IRA or Roth IRA are great ways to shelter some money and have a real retirement when you retire. Some of you have pensions and need a supplemental thrift account or 403b plan offered through your job, investing in your supplemental accounts will give you a good retirement. There are tax advantages to investing in an IRA, Roth IRA, or if you are in business a SEP-IRA or SIMPLE IRA. The tax advantages are also adding money to your savings.

SANE SAVINGS WITH EASY WAYS TO SAVE

6. With the easy ways to save you are generating sane savings. You will have your sanity and you will have money if you need it quickly in your large jar, then your passbook savings account, at this point the interest is not important – it is the accumulation of the money that will save your sanity when you need money quickly. Then there is the sanity that comes from having savings in a long-term index fund or income equity mutual fund. See my eBook Live Rich Save Money! Learn Investing (on kindle Amazon) to teach you about saving money in mutual funds. There is also that which comes from knowing that someday you can retire because you are funding your retirement account, but with retirement savings, the sanity comes from the tax deduction you get when you fund your retirement account. The sanity of knowing you are not wasting money but saving for the near and far future comes from sane savings.

LIVE RICH SAVE MONEY

7. Read, Live Rich Save Money! 68 Powerful Ways to Save, and go to my eBook Live Rich Save Money! Learn Investing to understand more about saving money. I offer Discovery Sessions to show you how I may help you with Mega-Money Management issues. Sane savings will protect your sanity around money.

5 Reasons to Join

Join MsFinancialSavvy - Get tons of tips and tricks to 1.save money 2.learn to create wealth 3.free personal finance pdf's, 4.free money management video tutorials, and 5.free step-by-step investing, home buying, saving and other articles.!

Powered by ConvertKit

I have 7 ways sane-saving can protect you now

Money Saving Tips for Single Moms, When You Live on a Tight Budget

money saving tips for single moms

Nearly every single Mom eventually comes across this one question,  ‘how to save money with my one income?,  the answer to the question varies considerably from one person to another. The money saving tips working for a single mom would be different than a student, and a working professional and entirely different saving method would apply for a couple.  Being a single parent is not an easy job and it becomes more difficult when it comes to being a single Mom.  Life is not easy for Moms but when they have to play the dual room of bread-winner, and homemaker a bit of master-minding is in order. 

Maintaining good finances is always a tricky task for everyone, but this task becomes more challenging when there is one income. A single mother whether earning or not needs to take to laser focus on all her finances,  saving money will alleviate some of the stress in her plan. If you are a single Mom and looking  for solutions to save money, then you will benefit from this article,  as here I will present to you, one of the great “how-to’s”;  How to save money tailor-made for single moms, using these, money saving tips:

Saving Money on Groceries

Most Mom’s are responsible for grocery shopping, meal planning, and preparation, but a single mom is responsible for doing the same and making sure it is “cost effective”. A single mom can save money by

  • Planning the family meals in advance, because she can purchase in bulk, prepare in advance and freeze meals.
  • Cooking in bulk that can be used over a period of 2-3 weeks, freezing the excess, would help her save on cooking expenses apart from saving a lot of time and energy.
  • Purchase in-season vegetables and fruits
  • Avoid expensive cuts of meat as they will heavily increase your supermarket bills.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Get Your “Free” –  Debt-Free eBook Excerpt — Download Now!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The Second Hand Option!

Children are always full of demands, and I won’t be exaggerating if I say their demands are never-ending, that’s typical of kids. A  single mom needs to handle these demands without jeopardizing her monthly budget and savings. You can save a lot of money by buying used toys and clothes for their kids and, and even for yourself. And if second-hand clothes are not something you like, go in for recycling your clothes and save a lot of money on buying new ones. There are a number of shops that offer second-hand products used once or twice, and available at 30-50% of the original price. You can see that there are many options for saving money on clothes, you can think of others.

Look out for discounts and coupons

The life of a single mother is full of struggles and difficulties but shopping for discounts in major sales papers and online should be a major part of your shopping tour. Take advantage of shopping coupons, store loyalty, and reward points and make the most of your shopping by paying the lowest price possible for everything. You can go in for kid’s clothes shopping during sales at regular stores,  and  also  at deep discount retail shops in searching the best answers to ‘how to save money’.

Team up with other moms

There is one famous quote saying ‘Divided we fall, United we stand’  let this be an inspiration for single Moms everywhere. Befriend single Moms in your area and form a group where you can trade babysitting with other group members, which would not only save money but also foster support and friendship within the group. Organize group activities such as cooking and freezing, excursion trips, picnics to nearby places with kids and carpooling etc.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Know Where Your “Cash Flows”  Get Your Cash Flow Journal Now!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Save on household bills

Household bills are a necessary evil, will always be with us, so they need to be dealt with efficiently. The process of saving money on household bills begins with cutting back on cell phones, cable, electricity and water bills. Single moms can take advantage of the internet to compare various cell phone plans and make sure you can constantly upgrade to the most discount friendly plan. Always ask your electricity, water or gas companies for a  subsidy or discount, as many companies give subsidized electricity and other amenities at lower rates to people belonging to certain income groups. As for electricity, don’t use what you don’t need. If there are cable channels you don’t use or can’t afford, cut those out of your cable package.

Get out of the debt trap

[sociallocker]Debt is considered to be an integral part of the lives of a single parent, especially the single Moms. Many people know that debt is actually the enemy of savings,  and in order to increase savings, you need to get work to get out of the debt trap as soon as possible. I suggest you replace your big car with a small one or a big house with an apartment or small manageable home.  Big assets acquired in the form of a  loan only adds to your liabilities and increases the outflow of your cash by the way of down payments and loan installments. Get rid of bigger loans with huge installment payments, and high-interest rates: and save up your monthly income for a healthy budget and securing your children’s future.

We are aware of the fact that as a single mom, you know the importance of money and savings. This is the reason you can see plenty of single moms working terribly hard from morning to evening in order to earn an income for their children. But sometimes finding answers to the question  ‘how to save money’ seems blurry even for the hardest working single moms,  this is the reason why we’ve given you the best workable tips for achieving the task. Take advantage of these money saving tips and see your budget consistently improve over time.[/sociallocker]

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Plan Your Budget and Budget Your Plan, Go Here For Your, “Easy Budget Planner”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Join my Private Facebook Group, WomenVestors Chat Stop, to get Money Saving Tips on a regular basis.

Money Saving tips for single moms

5 Reasons to Join

Join MsFinancialSavvy - Get tons of tips and tricks to 1.save money 2.learn to create wealth 3.free personal finance pdf's, 4.free money management video tutorials, and 5.free step-by-step investing, home buying, saving and other articles.!

Powered by ConvertKit

Regards,
Lois

Save Money on Monthly Expenses in 10 Easy Ways

Save Money on Monthly Expenses

save money on monthly expenses in 10 easy ways

No matter what your income, on one wants to overspend on expenses. But, if you are on a budget, at some point the question comes into play – How to save money on monthly expenses.  The answer is not simple, though a little bit of behavioral change, can help you find a lot of ways to save  money on monthly expenses;  and therefore strengthening your finances. Here are 10 great ways, illustrating, some easy ways to save money on monthly expenses.

1. PHONE AND INTERNET FACILITIES

  •  Don’t keep several phone lines at home when you can use a single cell phone to receive most of your calls.
  • For internet packages, research different service providers and select a package based on your monthly service use.
  • Try to use a WiFi device to connect with multiple devices including tablets, cell phones, PC’s etc.
  • Use email and online chat to communicate with friends and associates to reduce costs on phone bills. Most landline phone services offer free long distance.

2. COUPON CODES 

Today you can find several legitimate sites flooded with lots of coupon codes, offering discounts, points to receive  free samples, free shipping offers, and much more. Sources like Groupon, are great to receive coupons for groceries, clothing, restaurants, and many other purchases. I caution you to make sure you absolutely need and can afford the discounted item. In other words, don’t get caught in the trap of purchasing items, just for the discounts. It is best to get manufacture coupons directly from the company or stores website to make sure they are legitimate.

3. DIY METHODS

Maid Services: Many people are busy, and therefore hire out home services. Some of the services are affordable, but some are not. One of the most common services hired on a regular basis is a  maid for cleaning services. You can place cleaning chores on a schedule and do your own household chores. This will require a bit of effort, but the weekly savings is substantial.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Get these 3 Amazing Gifts When You Join, Live Rich Save Money Now!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Laundry Services: Do your own laundry. Some folks get so busy, they drop off laundry to have it done at a Laundry Mat. Do your own laundry, while you are watching TV or some other mundane activity. Dry cleaning is another story, some clothes must be dry cleaned, check to see if some of your dry cleanable clothes can be carefully hand washed to avoid the dry cleaning bill.

You can apply DIY methods in a lot of areas of  household tasks;  including general household painting, sewing your clothes or curtains, decorating your home, making small fancy items such as bags or belts.  Always make sure you have conducted detailed research before implementing DIY projects.  There is qualified research all over google.

4. ELECTRICITY BILLS 

Many people do not realize the importance of resorting to research, for saving money on electrical bills. If you are eager to know the many ways to save money on electrical bills, then here are a few tricks you can follow.

  •  During the winter you can keep the windows closed and let the light come in during the day, avoiding the use electrical lighting.
  • Some LED lights, chargers, and appliances are available with solar panels that help you charge devices or energize light,  using solar energy. This will help you save money on electrical bills.
  • While purchasing electronic appliances, choose products with a five-star rating that consumes minimal energy.
  • While using a water heater to warm up water for washing utensils, clothes, or bathing purposes, the maximum temperature required is 120 degrees. Lowering the temperature settings to this level helps to cut  cost on power usage. If you will be out of town for an extended period of time, you will definitely want to lower your hot water heater settings.
  • Always remember to turn off appliances when they are not in use, or switch off the lights when you are not in the room.

5. USE REWARDS CREDIT CARDS

There is competition among the credit card providers that prompt them to offer cash back and discounts on the products purchased using your card. Hence, if you are shopping in a  mall, you will have to pay the full  price if you opt for cash/check payment methods. A credit card, used sparingly, can help you save up to 15% to 30% through discount offers. I caution those who have spending addictions, to use cash instead, so they will not overspend. The airline rewards can be substantial if you are in a business of frequent travel or other business spending where a credit card is necessary.

6. REDUCE COST OF FUEL

The fuel costs are rising with undue intensity. Expenses on gas for cars, homes, and other uses can be controlled, but with work.

For saving money on cooking gas you can either use solar if you have the panels or use electrical kitchenware, such as a microwave or induction ovens to prepare food faster. Some municipalities offer a huge rebate for installing solar panels. In some cases, the rebate pays for the installation and cost.

While traveling to your office, schools and regular grocery shopping to locations near your home, avoid taking your car. Use public transportation facilities such as bus, train, tram etc. Alternatively, you can also establish a group of people who can travel in a single vehicle and share the fuel costs in a carpool.

 7. FOOD ITEMS 

You can save a lot of money limiting your expenses on daily grocery shopping.

Beverages: Avoid costly beverages at  coffee shops or restaurants. Opting for a simple cup of coffee over a Cappuccino, can save $3 per cup, or roughly or $90 to $180 per month on 1-2 cups of coffee.

Office Lunch: Try to carry your lunch from home. This costs around $5-$20 everyday compared to the cost of preparing lunch at home can save you as much as $5-$10 per day.

Shop for Ingredients: Always purchase unpacked fresh fruits, vegetables, and unprepared food. They are cheap and healthy too.

8. CLOTHES 

  •  Research the opportunities to buy clothes during seasonal sales for greater discounts.
  • Do not purchase too many clothes for daily wear that require dry cleaning.
  • While washing clothes use mild detergents, cold water, and avoid dryers. All of these will add to the longevity of your clothes.
  • Check your wardrobe before going out so that you purchase only necessary replacements. Save money by avoiding random and unplanned shopping, in other words — stay out of the stores, if you don’t absolutely need anything.

 9. SOCIALIZING 

Friends and relatives are of great importance to everyone. So sending gifts and messages on special occasions such as birthdays, marriages, Christmas etc. is extremely important. Try to purchase combo packages that cost less. Wrap your own gifts, it is cheaper. While ordering gifts online, always take the “free shipping” option. Purchase less expensive items,  and use coupons to reduce costs during the holiday shopping season. Create a holiday budget, and shop from your budget.

 10. ENTERTAINMENT

[sociallocker] Every year people spend a whole lot of money on watching TV, movies, reading books etc. The expenses with monthly cable bills, can be far more expensive than watching free TV online. Be selective in watching new films and use coupon codes to receive discounts on movie ticket prices.

For watching old movies, get free videos from your library. You can also get a library membership for reading books for free, of course and using their computers.

While passing through financial crunches, people often wonder- “How do I save money on monthly expenses”, on daily living, while at the same time, taking care of themselves of their family. A little bit of budgeting and wise spending can help you save a lot of money without compromising the essentials or your lifestyle.[/sociallocker]

——————–
Lois Center-Shabazz
author of, Live Rich Save Money! Budget Diary
Download “Budget Planner” Instantly  Now

author of, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever
Available Now at Amazon

author of, Live Rich Save Money! Get Out of Debt Forever in 17 Amazing Ways
At Amazon

save money on monthly expenses with easy budget planner

Money Saving Tips For Single Moms

Money saving tips

Money saving tips for single moms at Msfinancialsavvy


Creating a list of money saving tips is essential for all single moms
, and the list will vary considerably from one person to another. The money saving tips working for a single Mom would be different than for a student, and a working professional and entirely unique saving methods would apply for a couple.

Being a single parent is not an easy job and this job becomes even more difficult when a single mother is pressed to save money. Life is not easy for mothers especially in today’s financial climate  when Mom’s must play the dual role of breadwinner and homemaker, a lot of introspection is in order.

A single mother needs to take care of every personal financial detail, this is the main reason why financial success is possible. If you are a single mom and looking for techniques to save  money, then you’ve  come to the right place, I will present you with some of the most successful money saving tips available for single moms.

Easy Budget Planner at Msfinancialsavvy

  • Food issues

A mother is responsible for providing her children a balanced diet and nutritious food, but a single mom is responsible for doing the same in an affordable way. A single mom can save a lot of money by planning family meals in advance. You can also receive bulk and coupon discounts from grocery and retail stores. Cooking in bulk that can be used over a period of 1-2 weeks when you freeze the excess, can help you save on cooking expenses and save a lot of time and energy. Try to purchase seasoned vegetables and fruits and avoid expensive cuts of meat and off-season vegetables as they will heavily increase your supermarket bills.

  • The second-hand option!

Children are always full of demands, and in fact, I won’t be exaggerating if I say that their demands are never-ending. As a single Mom, you need to handle these demands without jeopardizing your monthly budget and savings. You can save a lot of money by buying used toys and clothes for their kids and, and even for yourself. And if second-hand clothes are not something you like, go in for recycling your clothes and save a lot of money on buying new ones. There are several shops that offer second-hand products used and in good condition, and available at 70-80% of the original price. These include consignment shops, thrift shops or Salvation Army type shops. You can see that there are many options for saving money on clothes, you can think of others.

  • Look out for discounts and coupons

The life of a single mother is full of struggles and difficulties but one should never feel hesitant or shy in asking for discounts from some stores, and shopping only at the lowest prices. Take advantage of different types of shopping coupons, store loyalty, and reward cards and make the most of your shopping experience by paying the lowest price as a rule and not an exception. You can go in for kid’s clothes shopping during sales at regular stores and at deep discount retail shops when looking for money saving tips.

  • Team up with other moms

There is one famous quote saying ‘Divided we fall, United we stand’,  this is an inspirational quote for all single Moms.  Befriend single Moms in your area and form a group where you can all trade babysitting when any of the group members are in need, which would not just save money, but also foster friendships within the group. Organize group activities such as cooking demonstrations, excursion trips, picnics to nearby places with kids and carpooling.

Easy Budget Planner at Msfinancialsavvy

  • Save on household bills

Household bills will always be with us, but unnecessary bills can be cut out. The process of saving money on household bills begins with cutting back on cell phones, cable, electricity and water bills. Single moms can take advantage of the internet to compare various cellular plans and should consider discount friendly options only. Always ask your electricity, water or gas companies for a subsidy or discount, as many companies give subsidized electricity and other amenities at lower rates to people belonging to certain income groups. Take advantage of government offers for moderate income people.

  • The tip jar

For those of you who complain that you can’t save any money in an account. Start with a tip jar.  Choose any large jar in your home. Place it somewhere safe. Whenever you have an excess of  change in your wallet or purse, place most of the change in your jar. In anywhere from 4-12 months, you will  notice the jar filling up, depending of course on the size. The larger the better, 1 to 1/2 feet high is good. When you have an emergency you can turn in your coins to a local store coin deposit machine and get cash for something pressing. In addition to your jar, I suggest you open a bank account at a bank, a regular passbook savings account. At this point you are not concerned about interest, your goal is to accumulate money for a rainy day. It doesn’t matter if it is $20 a month or $200 a month. Make this a bill, pay into to the savings account every single month when you pay your bills, it’s even better if it is auto-deducted from your checking account or payroll check, that makes it easier.

  • Get out of the debt trap

[sociallocker]Debt is an integral part of the lives of a single parent, the trick is to keep it low. Many people know that debt is the enemy of savings, and to increase savings, one needs to get out of the debt trap as soon as possible. I suggest you replace your big car with a small one or a big house with an apartment or small manageable home.  Big assets acquired in the form of a loan only adds to your liabilities and increases outflow of your cash by the way of down payments, loan installments, and big repair bills. Get rid of bigger loans with huge installment payments, and high-interest rates;  and save up your monthly income for a healthy budget and securing your children’s future.

We know as a single mom, you  know the importance of money and savings. This is the reason why you can see plenty of single moms working terribly hard from morning to evening to earn an income for their children. This is the reason why we’ve given you the best workable tips for achieving the task. Take advantage of the money saving tips here and see your budget consistently improve over time. [/sociallocker]

These are just a few of the money saving tips for single moms, look for more in my downloadable kindle eBook.

~~~~~~~~~~~~~~~~~~~
Lois Center-Shabazz
author of, Live Rich Save Money! Budget Planner
Download “Budget Planner” Instantly  Now

author of, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever
Available Now at Amazon

&  Get Out of Debt Forever in 17 Amazing Ways

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Get 2 Amazing Gifts When You Join, MsFinancialSavvy!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~