Archive for 'Personal Finance'

Better than coupon clipping – Groupon

Better than coupon clipping – Groupon

Posted on14. Jul, 2010 by ErnieB.

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I’m not sure how many of you are already aware of Groupon, but i just found out about it recently. It a fantastic idea and can save you potentially 90% off of things you are already doing. Best part is its totally free!

Here’s how it works: You pick your local city and then sign up with your email address. Everyday you will receive an email with that days deal. It will be a local business offering upto 90% off their normal prices. You can get restaurant gift cards for 50%+ off or massages at a deep discount or truly anything. Half the fun is opening the email to see what type of deal you will find for that day.

There is always a minimum required before the deal will actually be sold. For example, there may need to be at least 10 people that purchase the deal for it to actually be valid. If there ends up not being enough interest then no one will actually be charged. There is also sometimes a maximum amount so make sure you get in early!

To sign up ( its totally free ) and to get more specific details on how all of it works just click the ad box over on the right or click here.

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The Foundation of a Successful Financial Plan

The Foundation of a Successful Financial Plan

Posted on05. Jul, 2010 by ErnieB.

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I hope everyone had a great 4th of July! Now that the holiday is over, its time to get back to business. My current financial status is about to become even more of a bad situation so I need to take measures to help improve this. We need to start with the very basics, the actual foundations of a good financial plan. The foundation of a successful financial plan is none other than a budget. Creating and following a budget is an often overlooked tool that is essential for financial success. Below are 12 great reasons you should start using a budget.

1. Family budgets are used as a baseline, analysis-tool and roadmap. It is a useful tool and
guide. It tells you whether you are headed in the direction you want to be headed in financially. It
helps you to move from spending to saving and good fiscal balance, management and
responsibility.

You may have goals and dreams, but if you do not set up guidelines for reaching them and you
do not measure your progress, you may end up going so far in the wrong direction you can never
make it back. Can you imagine the government or a major corporation operating without a
budget? No, and neither should you.

2. It is often described and justified as an empowering enabler. A budget lets you control
your money instead of your money controlling you.

3. A budget is a realistic estimate and true reflection of current circumstance and means, a
type of financial situation-analysis that will tell you if you are living within your means.
Before the widespread use of credit cards, you could tell if you were living within your means
because you had money left over after paying all your bills.

There are lots of family budgeting tools available on line that make it a fun and enjoyable task
and activity, to assess and analyze your family’s financial situation with minimum effort.
(www.MoneyPants.com)

There is also lots of free financial software and most of it sets up easily and provides you with a
detailed family budget online. It manages your finances, hassle-free and almost effortless.
Well, almost! It will require input and minimum effort through hands-on involvement in setting
it up, populating, maintaining and editing it. Mvelopes.com is a good example of market
offerings that are available at no cost to you, just waiting for the motivated family budgeter to
embrace and try it out!

Some websites offer free financial newsletters by e-mail, with lots of money saving tips, budget
advice, and other relevant personal and family-related financial information
(www.planabudget.com).

The availability, accessibility, virtual marketplace, ease of use and more of credit cards has
made the need for family budgets much less obvious. Many people do not even realize they are
living far beyond their means until they are knee deep in debt, struggling to make ends meet and
sinking fast into murky financial waters.

Budgeting is and can be a life and money saver, a reality check, BUT ALSO a remedy!

4. A budget can help you meet your savings goals. It includes a mechanism for setting aside
money for savings and investments.

5. Following a realistic budget frees up spare cash so you can use your money on the things
that really matter to you instead of frittering it away on things you do not even remember buying.

6. A budget helps your entire family focus on common goals. It is unifying families in
mutual purpose and effort, working together towards a successful outcome and reward.

7. A budget helps you prepare for emergencies or large or unanticipated expenses that
might otherwise knock you for a loop financially.

8. A budget can improve your marriage. A good budget is not just a spending plan; it is a
communication tool. Done right, a budget can bring the two of you closer together as you
identify and work towards common goals and reduce arguments about money.

9. A budget reveals areas where you are spending too much money, so you can refocus on
your most important goals

10. A budget can keep you out of debt or help you get out of debt.

11. A budget actually creates extra money for you to do use on things that matter to you.

12. A budget helps you sleep better at night because you do not lie awake worrying about
how you are going to make ends meet.

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My Personal Finance Saga – Beating Chexsystems

My Personal Finance Saga – Beating Chexsystems

Posted on17. Jun, 2010 by ErnieB.

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My personal finances leave a lot to be desired, lol. I have had problems in the past with my checking accounts and ended up being put into chexsystems. If you dont already know, chexsystems is sort of like a credit bureau but for bank accounts instead of credit. Anytime you end up owing a Bank money or abuse their system, they will put you into chexsystems. Most Banks look in chexsystems to see if you are in there before they will let you open an account with them. If you are in there then they wont let you open an account! Once your in there its really hard to get out, even if you have paid or taken care of your obligations. It can take several years before your removed from chexsystems.

I was fortunate to find a local bank that allowed me to open an account even though I was in chexsystems. There are a few out there but they are hard to find. In the mean time I am getting a copy of my chexsystems report and will be working to get myself removed. I will update my progress so you all can follow along. If anyone else is in the same situation, feel free to comment below. I may be able to share with you a couple banks you may be able to get an account at while you work to get out of chexsystems yourself.

The next personal finance issues I will be figuring out will be my credit issues and working on them. Till next time….

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