Save the Money, Save yourself | Saving Tips worth Trying

Money saved is money earned. How many of us believe that, or practice that consistently? I have always believed that when you save a portion of the money that you earned, you will eventually save yourself in times like these.

Alright, there are obviously many ways to save money and lead a frugal life without necessarily becoming a Mr. Scrooge.

Money problems will always torment if we do not learn how to save and practice frugality. It is important to know how to manage money efficiently to ensure bulky savings. We should make it a habit to ask ourselves whether to save a portion of what we have to spend now or whether to spend at all. Here are a few money saving tips worth trying:

1. First, in case of large investments, you might want to consider seriously the ROI or Return on Investment before you make the decision. The bigger the investment you make, the greater the risks you take. Between buying a brand new and used car, which do you think can provide a good ROI?
2. Buy in bulk and buy items on sale, but not at the expense of quality.
3. For financial investments, like stock or day trading, follow the golden rule of buying volatile stocks when the price of an item is down and sell it when it is high. The profit thus earned can be invested in the equity market for steady items.
4. The internet has provided the best opportunities to shop for the best price before you make a purchase. This means that you can conveniently compare products and prices.
5. Create a monthly budget to the essential items you need, and stick to it.
6. Plan what you eat on a daily basis ensuring you hey proper nourishment. You do not only save money from proper food planning, you stay healthy and thus eventually save money from medical expenses.
7. Pay your bills on time. This way, you save money from interest rates charges and penalties.
8. Last, but not the least, prioritize, prioritize, and prioritize. When the most important things are taken care of, you will notice you will have surpluses from your budget, which you can add to your savings.

Start saving today!

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Posted on 6/16/2009 2 comments

Recession and Satellite Internet

What is the connection between the two, you probably have asked.

To some degree, there may be a correlation between how fast the internet has encroached our way of living and doing business, and with how and where our economy is headed.

When Alexander Graham Bell made the first call on his new invention, a.k.a. the phone, it awaken the civilization into the possibility of communicating through the wires. With that, the industrial revolution was hastened, commerce grew exponentially, and connecting with other people has been made convenient and easier.

Then the mobile phone came in –you know the rest of the story.

Now, satellite internet. With a cellphone, you can call anyone, anywhere. With a GPS, you will never be lost. Now, with wild blue satellite internet, you can virtually access the wealth of information over the net that is actually perpetually growing every second. The likes of Wild Blue, have enabled internet access possible anywhere and even the in the remotest locations.

Ironically, with this technological breakthrough, we have driven our economy backwards. I am undecided whether this is a simple oversight or an utter neglect on our part. With the advancement of technology and the availability of information, these would have made us better stewards of our resources. But unfortunately, we were not.

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Posted on 6/16/2009

3 Important Elements on Day Trading Investing Basics

In my first two years working after college, I was also among many business graduates who got lured into pursuing a career in stock trading and finance portfolio management. In my case though, after a month of training, I lasted only a couple of months. I resigned and took a job on sales instead.

One of the reasons I quit too soon is because I do not have the guts to take the necessary risks in day trading.

The senior stockbroker assigned to train me and monitor my progress is successful to some degree, and he seem to enjoy both the euphoria and frustrations stemming from the results of the day's trading – I don’t.

But over the years, and as I steadily climb the corporate ladder, I began to fully appreciate what is going on the trading floor, although I am now a fence sitter of sort. I bought several stocks and bonds as part of my personal investment, and tried to monitor any changes in their values from time to time.

In my mind, there are at least 3 important elements in day trading investing basics, namely: money, knowledge, and a plan.

Money

In spite of the data and analytical tools available, stock trading is still unpredictable. It is so dynamic that you can be rich overnight, and broke the next day. Hence, you need to be prepared to use money that you can afford to lose. Otherwise, if you have places all your savings upfront, you might find yourself sleeping on the pavement when the trading day is over. The key here is prudence. That is, taking it slowly and building your portfolio from the profits you gained from successful trades, and rolling them out when you deemed favorable.

Knowledge

Never rely entirely on what your financial advisor or your friend tells you. Learn what is going on the floor and in the market. Buy and read good books on the subject, there are many to choose from out there. Read trends and analysis made by experts online or from newspapers.

If you are contemplating day trading as a career path, you might want to consider getting the right training from the experts like what they offer at TradingAcademy.com.

Considered today as the leading trading school in the world, Trading Academy.com offers extensive and effective training on the rudiments of day trading in any market conditions. Their courses, classroom and online courses were designed for the novice and the experts, traders and investors alike whose primary goal is to provide the right competencies in trading.

The bottom line here is getting all the information and skills you need to help you in your trading decisions. To hammer the importance of this point, Alan Greenspan spells this to us more accurately:

It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making.

Plan

Presumably, you have now the money allocated, and have the basic competencies to start trading, then you need to draft an investment plan that you can refer from all the time. This investment plan will help you organize your investments and keep you on track.

Stock trading is stressful for both the investor and professional trader. As an investor, you need to be a step ahead always. Your plan should include not only how much you are going to invest, buy or sell, but also the rationale and timetable behind those investments. It should also include your exit point (the price that you will sell your investment at to take profits) and the time you want to allocate for your investments each day, which involves monitoring and studying their movements. This plan is your trading blueprint, and it will help you reduce unnecessary errors and run into unnecessary risks.

Again, I am speaking from a layman’s perspective here. There is still no substitute from an expert’s advice, which you should refer to more often.

Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. ~ Sir John Templeton

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Posted on 6/15/2009 1 comments

Being Frugal | Every Little Bit of Savings Adds Up

Living on a budget and being frugal are important steps to financial freedom, but getting started can be frustrating. When we look at our expenses and see all of those bills we are paying every month, it's easy to throw our hands up in disgust. Sometimes, cost savings initiatives will take the back seat because of this.

But what about all those little expenses we incur? You might be surprised to find out just how much they amount to.

It's easy to dismiss cutting back on little things. A few dollars a month won't make a significant difference in the big picture. But a few dollars here and a few dollars there adds up to a few more dollars. When you cut back in many small ways, you could end up with a lot more money at the end of the month.

Simple Frugal Budgeting Tips for Households: Waste Not, Want Not

One thing we can do that is good for the budget is stop wasting so much. This can apply to many areas in our lives. From eating to home heating, waste equals money going down the drain unnecessarily.

Cooking for the family instead of eating takeout or dining out is a great way to save money. But if you're throwing food out, the benefit is reduced. So if you have leftovers, don't let them end up in the trash. Some dishes freeze well, and this makes for easy dinners when you don't have time to cook. You could also eat dinner leftovers for lunch the following day.

If your home is not well insulated, you're probably wasting lots of money on home heating and cooling. Insulating will cost some money up front, but it will pay for itself quickly. If you have drafts around windows and doors, weatherstripping can help maintain the temperature of your home.

Most households waste an unbelievable amount of electricity. This can be prevented in part by using energy efficient appliances and light bulbs. Turn lights, televisions, computers and other devices off when you're not using them, and open blinds to take advantage of the sun's light during the day.

Practical Frugal Living Habit: Do It Yourself

Any time you pay someone else to do something that you could do yourself, you're spending money unnecessarily. This applies to little things like buying coffee instead of making your own, as well as to larger expenses such as home repairs.

Many of us buy coffee or a soft drink from a convenience store or coffee shop on the way to work in the morning. This can really add up over time. Instead, make your own coffee, or buy soda in 2-liter bottles and pour some into a smaller bottle or cup to take with you. The same applies to lunches. Instead of springing for fast food, take a sandwich or something microwavable to work.

While we're not all good at all types of repairs and maintenance, most of us can do some things for ourselves. Maybe you could change your own oil instead of paying someone else to do it. If the walls need painting, consider getting friends and family to help you do it instead of hiring a painter. Things like these can save us a noticeable amount of money right away.

When you add up these cost savings, little things can make a big difference to effective frugal budgeting. So take a close look at your budget and see what small expenses are lurking there. If you can eliminate or reduce them, it could positively impact your bottom line, and you will worry less on problems with money, better yet worry no more.

What’s your take? Care to share any frugal ideas or practical family saving techniques?

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Posted on 6/12/2009 2 comments

Using Cheap Home Alarm System from ADT Alarms

Safe and security of my family take a very high priority. Home security systems are investments, regardless of economic downturn, that cannot be set aside.

While we can always choose a safer and secure neighborhood, we cannot negate the possibility that burglary or illegal intrusions into our homes can happen anytime. Sometimes, neighborhood of little known incidence burglaries can be likely targets. Hence, home alarm systems in place are always handy.

However, the real issue as far as installing security and alarm devices is affordability and reliability.

Thus far, nothing can closely match the services provided by the largest provider of electronic security services in the nation today than ADT. In fact, even before you consider cost hurting your household budget, the reliability of cheap home alarm system that ADT provides outweighs the investment you will make. With the aid of their Home Security Wizard, which is readily accessible on the internet, you can easily identify your requirements for you home alarm security. Also, you can even get the actual cost requires for the installation of your security alarms and thus can decide objectively on the allocation of budget.

Better safe than sorry, as they say. My two cents? When deciding on this issue, make reliability your foremost consideration, then cost as secondary.

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Posted on 6/12/2009 0 comments

Some thoughts about unsecured personal loans

Some of us can easily justify the recession or our perennial problems with money that we are easily swayed into getting unsecured loans. Who would not?

However, allow me to throw a few concerns or thoughts about getting unsecured personal loans.

Some of my friends seem to have made this a habit whenever they run into money problems. While I do not negate entirely the help that comes from an unsecured personal loan in times needs, this should not become your primary solution. Your money problems will continue to recur if you are dependent to this quick fix solution. In most cases, a change perspective and attitude towards money management can provide a long-term solution.

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Posted on 6/10/2009 0 comments