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Coolest Money-Saving Apps of 2018

June 1, 2018/in Money Management /by admin

If you find it difficult to stretch your paycheck over the entire month, don’t worry. Often times, it just takes being organized and creative to make it work. It is not about tightening the belt even more or starting a second/third job, but about using the newest technology to your advantage. There are numerous money-saving apps that will help you save some extra money and earn rewards for things you buy anyway.

Earny

This free app monitors retailers and notifies you when they reduce their price on an item that you have already purchased. In other words, it tells you that an item you just bought is now on sale. It calculates the difference and contacts the company so that they can return that amount to you.

It is especially useful for retailers that will price match and you basically don’t do anything but enjoy the refund.

Swagbucks

This is one of the best apps that gives you rewards for simply because you shop, search or do other common activities online. The app includes a search engine that looks a bit like Google. This custom engine gives you points for searching, shopping at partner stores and participating in online surveys. When the points add up, you can get a free gift card for stores like Amazon or cashback into your PayPal account. While many apps offer gift cards, only Swagbucks provides you with cash into your account, which you can transfer to your bank and get actual cash.

Honey

Honey is a plugin that can be used with Chrome, Firefox, and Opera and helps you save money by not letting you forget that you have coupons that give you a discount. Honey applies the coupons automatically at the final stage of online shopping. A popup window will appear at the checkout stage of your shopping and all you need to do is click on it. Honey will check all coupon codes and apply the one that best fits the purchase. The plugin works with over 3,700 online stores and also gives you “Honey Gold” points. When you collect enough, you can exchange the points for a free gift card.

Wikibuy

This plugin is similar to Honey but only works with Chrome and Firefox. There is also an iOS version for iPhone and the site promises to launch an Android version soon. The plugin is considered less reliable than Honey, but if you find it more useful, you can use it. It also gives you points that can be redeemed for gift cards or other products.

Raise

Raise is a free app that helps you find discounted gift cards or sell your own gift cards for cash in case you do not want to use them. Raise allows you to find gift cards with an average discount of 12%. You can search gift cards by brand, category or value. This is the best place to save money by buying or selling gift cards depending on your needs.

CamelCamelCamel

This money-saving app is designed especially for those who love shopping on Amazon. It allows you to view charts and details with the history of product prices that are for sale on Amazon. It helps you compare current prices to the past trends and thus decide whether now is the best moment to buy or if you should wait to get a better deal. Since Amazon changes prices constantly, this app is a very useful tool to save money if you are an avid Amazon shopper.

Shopkick

This app is very useful for those who love to shop both online and offline. You can earn points that are called Kicks as a result of different activities, some of which do not require purchases. You get certain Kicks for going to a physical store and buying certain items that are eligible for awarding you points. In some cases, you are just required to physically visit a store and find a given product on the shelf without buying it. You need to upload your receipts in order to get the points and then exchange them for gift cards that can be used on Amazon, at Starbucks,and at Target.

As you can see, there are various money-saving apps that can help you with your budget. Choose those that you prefer. Be careful, since you can use only one app of a given type, so select the one that gives you the best results.

Money Management Basics

April 2, 2018/in Money Management /by admin

The way you spend and manage your money has a significant effect on your entire lifestyle. Unfortunately, critical money management skills aren’t commonly taught in schools, although that’s starting to change.

Determine your income sources

Whether you are a student, an employee, a business owner or a retired, you need to list your income sources and determine how much income each source generates. For most of us, the main source of income is the salary or wage we receive from our employer and in the most cases, it is a fixed amount each month. If this money is insufficient, consider additional income sources: you can start a second job, offer some services as a freelancer, sell your own products or declutter your house and organize a garage sale.

Spend less than you make

Once you know how much you expect to make on a monthly basis, add up your expenses. The rule of thumb when it comes to personal finance is to spend less money than you earn. If you spend even a thousand dollars more per year than what you earn, you will end up in a spiral of debt that is hard to come out of. If you spend exactly the same amount as your income, you will never be able to save money and be prepared for unexpected events, good or bad. Spend less than your earnings and put some money aside.

Do this by setting up a budget. You need to know where your money goes. Get in the habit of categorizing your bills and tracking your spending. The easiest way to set up a budget – even a basic one – is with a pen, paper and a calculator to help you determine how much money you can spend on each category. Now that you can see your budget at-a-glance, you can decide on the expenses you can cut – do you really need that new dress? Is it really time to upgrade your car? Can you afford this vacation right now? Set a budget threshold that is below your monthly income and try to stick to it.

Make smart investments

Do you wonder why rich people get richer? The simple answer is because they invest their money. Even if you do not have a lot of money, it is better to invest some, rather than keep all of it under your mattress. If you have no financial education or investment knowledge and experience, you can consult an expert, like a financial adviser or a money management coach. They will help you select the right investment vehicle based on your personal financial situation, risk tolerance and goals. Generally, it is better to have a diversified investment portfolio, rather than put all your eggs in one basket.

Choose the right bank account

Some banks require a minimum balance to open a bank account. Some banks charge monthly fees for maintaining your account or your credit card, or if you write more checks than the limit. Some institutions combine both, while others may have no fees. Some accounts come with handy apps that help you manage money, free transfers, automated bill pay and fee-free ATM.

Use your credit card wisely

It is easy to get a credit card and it is also easy to get into debt using one. Never buy things using a credit card that you can’t afford otherwise. In other words, if you don’t have the amount in your bank account to pay the credit card installments every month, don’t make that purchase. In addition to that, some credit card companies may give you a cash back or points if you make payments on time. There are a number of different credit cards with various rewards options. If you have one and find another that suits you better, you may be able to transfer your balance at 0% interest, so it’s worth looking into. Always pay your credit card bill on time to avoid late fees and extra interest.

How to increase your household income

March 16, 2018/in Money Management /by admin

If you are struggling financially, you can’t enjoy life the way you want to. There are several ways to improve your situation. The first one is to cut your expenses to the minimum and work out a budget that you and your family stick to as strictly as possible.

In many cases, however, just controlling your expenses is not enough to solve your financial issues. In those cases, you should consider increasing your income. Wondering how? We have a few ideas for you. There are four main assets that you can monetarize to get the extra cash you need: skills, time, property, and the stuff you own.

How to use your skills to increase your household income

One of the best ways to increase your household income is to put the skills you have to use. There are many ways to do it. Here are a few suggestions:

Become a freelancer. If you are good at copy-writing, transcribing, book-keeping, design, translations, etc., you can sell your skills and earn a decent extra income. You can look at jobs on the freelance sites that you can do in the evening or during the weekend. You will work from the comfort of your home and at the hours that suit you. Another benefit is that, at a certain point, this freelance job can become your main source of income or your new career path.
Become a teacher or mentor. If you are good at playing an instrument or at practicing yoga, you can become a private teacher or organize a group at your home or at another suitable space. The same goes if you have other skills and abilities that you can teach others.
Become a tutor. If you are good at math, English, history or any other subject you can become a tutor. You can work online through freelance tutor sites or find students locally.
Sell what you make. If you are good at baking, you can ask the local café whether they will agree to sell your muffins. If you have a garden, the local farmers’ market may welcome your produce. You might be a talented carpenter, artist or jeweler and sell your creations locally or online.

Invest your time to increase your household income

One of the other main options to earn more money is if you give more of your time. Here are a few ideas how to do it:

Work overtime. If your job offers overtime, take it. Always. Overtime is usually paid at a higher rate, so you will earn more.
Find a second job. You should be willing to trade your free time for money. Starting a second job –full or part-time means a lot more responsibilities and workload with less time to relax. This is more of a temporary solution but can also help you find your dream job in case you haven’t found it yet.
Start telecommuting. A job that will allow you telecommute from home is excellent for those who want to increase their income. It will not only give you extra money but allow you to save from traveling to work for example. Telecommuting will also add some flexibility to your day.

Time is money, so choose the best way how to utilize this asset.

Can your property help you increase your household income?

The simple answer to this question is, Yes! There are four possibilities how to add some money to your budget using your property:

Rent out a room. If you rent out one of the rooms in your house, you will give up some of your space and privacy but add a stable and secure income to your monthly budget.
Rent out a parking place or a garage. This is yet another way to increase your income, given that you have a spare garage or parking place and you live in a place where parking is difficult.
Rent out your entire house. In some cases, it may be more profitable to move to a smaller home or with relatives and rent out your own property. This is a temporary solution but might be exactly the right one for your current situation.
Use your second home for a holiday rental. If you are rich in properties but short in cash, the solution is to turn your second home into a holiday rental property. This means that you will have short-term agreements with tourist in the busiest season and then use again your home when you no longer need additional income.

Giving access to strangers to your property may not feel like the best idea, however, it is an excellent solution for those on a tight budget.

Reduce your possessions to increase your household income

An excellent way to increase your income and declutter your home is to sell some of your stuff, especially the stuff that you are no longer using or have no intention to use in future. There are two main ways to do it:

Organize a garage sale. Choose a suitable weekend with good weather, put an ad on Craigslist or Facebook, organize and price your stuff and be sure to have lots of change ready. You will be happy to see your items gone, free up space in your home and earn some cash.
Sell your items online. There are several sites, where you can sell second-hand items. eBay is one of the most popular ones, but there are several others you can check out.

Note that you may earn a lot of money by selling valuable antiques such as China, pieces of art or books. If you are dealing with antiques, consult an expert in the field before making the deal to be sure that you are getting the highest possible price for your items.

Giving a boost to your household income is not impossible. Some of the solutions suggested above are only temporary answers, while others can lead to a completely new path in your career. You may end up finding a permanent solution to your financial struggles, while actually doing something you enjoy.

Best coupon and discount sites to save you money

March 5, 2018/in Money Management /by admin

In the past, we had to hunt for discounts in the local shops and cut coupons from the newspapers and magazines to pay less for the goods and services we wanted to purchase. Now, things are much easier because most sites also offer some form of discounts in the form of cashback, coupons, or other deals. There are also specialized coupon and discount sites, allowing you to source deals from the comfort of your couch. Many of them also have a friend referral program, meaning that you get an extra bonus if a friend of yours uses the site as well.

So, let’s look at the best coupon and discount sites that are worth bookmarking.

Coupons.com
Using this site, you can check for deals near you by entering your ZIP code. You will also find cashback offers and loyalty coupons.
Browse through the items, pick the ones you need, print the coupon, and take it to the store to get your discounted product. It is as easy as that.

The Krazy Coupon Lady
This site offers more than just coupons—it also offers a lot of couponing tools, tips, and advice—which are very useful for those who are just getting started.

RetailMeNot
This is another great site that offers many coupons and discount possibilities. You can get assistance from the online community regarding questions such as how coupons work, which is quite useful for newbies. The site even allows you to vote and rate coupons and leave comments. It has a nice feature that allows you to e-mail a coupon to a friend if you find something that might interest them. You can check items from one retailer or you can check one given item, no matter who offers it. You can proceed with online purchases or find printable coupons.There is also an option to subscribe to their newsletter and receive e-mail notifications regarding the latest coupons and bargains. You can find coupons for over 130,000 online and local shops on RetailMeNot.

Amazon
Amazon also joins the group of sites that offer additional opportunities to save money. You can choose a product and click on “Clip Coupon” in order to get the desired item for less money. Another option to pay less is to subscribe to a repeat delivery of a product through the category “Subscribe & Save”.

Groupon
This site offers a service which differs from the regular coupons you can find on the above-mentioned sites. You can choose among a great variety of discounted goods and services (spa, massages, hotels) to purchase. Then you get an e-mail with a link to your voucher, which you can print to redeem, or you can utilize their mobile app to redeem vouchers. Take a note that these vouchers have an expiration date. If you realize that you won’t be able to take advantage of the voucher, then you can simply ask for a refund and your voucher will be canceled. If you refer a friend to Groupon and they sign up to use the site, you get a $10 Groupon credit.

Ebates
Ebates is one of the best sites for bargains and discount purchasing, despite the fact that it doesn’t offer coupons. Ebates offers online cashback shopping. Most often, the return is between 3% and 10%. However, some of the partnering stores may give up to 25% in cash back. You can use the bonuses for further online purchases or you can choose to donate them to a preferred charity. Like Groupon, Ebates also has a friend referral system. You get a $5 bonus for every friend who uses the site to buy goods totaling at least $25 within a given time frame.

It is easier now than ever before to find a coupon or some other form of discount online. Make good use of the above-suggested sites, but also check out any other suggestions that you may come across while browsing for deals.

10 signs you need help managing your money

March 1, 2018/in Money Management /by admin

Is it time to change your money habits, talk to a credit counselor or a financial coach? We all fall behind every now and then, but if you seem to always be financially stuck – you may need a bit of outside help – and there’s no shame in that.

You have no idea where your money goes or whether your card will be accepted

It seems that your paycheck arrives on time every month, however, the respective amount of money suddenly disappears just in a couple of days and you have no idea where it went. A similar sign is if you are standing at the line in the supermarket trying to calculate the cost for all your purchases as you are not sure whether your credit card will be declined as you are already over the limit. If this has happened more than two consecutive months, then it is a sure sign you need to seek help for your finances.

Your credit card is often declined

If your credit card gets declined too often it is a sure sign that you need help with your finances. The reason might be that you are spending too much on luxury items or aren’t tracking how your small expenses add up. Either way, professional advice will do you good.

You have bad credit history and poor bank balance

If you have a bad credit history or you don’t understand what led to it then you are in trouble. The same goes if you have a poor bank balance with about $100 left in your account before payday. If it happens every month, then you should take a note that you might need some financial advice before things get worse.

You don’t save for the future

You don’t have the habit to put money aside for the future or at the very best you save only a few bucks that are left at the end of the month for that dream holiday in the summer. While this does not directly affect your current financial situation, it may turn out badly if you are faced with unexpected expenses in the future. Learning to put aside a certain amount of money every month is a good routine that you should get into in order to avoid financial trouble.

You always spend your savings on daily expenses

You have made an effort to put some money aside, however, you regularly draw from these funds in order to cover your utility bills or daily expenses. Thus, in practice, you are not saving any money for the future at all. It is a good idea to consult a financial expert how to better manage your budget so that you actually end up with cash in your bank account for future spending.

You have no clear plan for retirement

Whether you like it or not, your retirement will come, so it is better to be prepared for it. Think about your retirement and decide on a plan that will help you enjoy those years. If you have no idea or no money at all saved for this period of your life, then surely you need some financial advice how to proceed.

You don’t understand your insurance policies or have none

It is important to have insurance policies that cover both your property and yourself in case of accidents. If you have none, then you are missing an important asset. If you have insurance policies but you are not aware of their benefits, it means you may not be able to get the full coverage in case something bad happens. Talk to your agent and find out how you can get the most out of your policies and how you can fill the gaps.

You have no investments or you don’t understand them

Do you have an investment portfolio that is right for your financial goals? The chances are that you have some investment accounts established by your previous employers but if you have changed jobs way too often, you might have lost track of them. While, those accounts may not be much of an asset right now, in 20-30 years that will be another story. Consult an investment professional and get your money working for you. Managing your investments properly is one of the essential steps for getting control over your finances.

You have no clear budgeting strategy and constantly switch between different ideas

You have some financial struggles that you are aware of, however, you have no clear budgeting strategy. If you apply a different approach to curbing your budget every week or so, it will be counterproductive. Choose a strategy that will be easy to follow and stick to it a few months at least to see if it works for you. If you have problems deciding on what’s best for you, do not be afraid to ask for expert advice. Get into the habit of saying “No, this item is not on my list this month. I will see if I can include it in my budget next month”.

You take out unnecessary personal loans

If you are taking out personal loans to buy the newest gadgets or fund vacations – you’re in trouble. Taking a personal loan, regardless of its type, should be to pay a debt, cover medical expenses or other urgent costs and not for treating yourself with a luxury holiday or a new wardrobe.

Get in charge of your finances. Read money management books, talk to a credit counselor or a financial adviser, get an accountability partner or a financial coach. It’s never too late to start managing your money better. Start today!