Very Simple Ways to Save Money

Very Simple Ways to Save Money

I simply can’t stress the importance of saving money, especially with the current economic climate. But saving money can be tricky. You’ve got bills to pay, mouths to feed and the holidays are just around the corner. That doesn’t mean saving is impossible though, with just a few alterations in your routine, you can easily save hundreds of dollars in just a few months. All you need is a little ingenuity and self-control, and you’ll be on your way to saving money.

1. Start saving all of your change. This is a simple, mindless way to save a lot of money. Keep a large jar in your bedroom and every day when you get home, empty out your pockets, your wallet or your purse. All of your loose change should end up in the jar. Just make sure you aren’t tempted to dig into it. Save the money for as long as you can, once the jar is practically full, take it into the bank and you’ll be shocked at how much you’ve accumulated.

2. Stop buying morning coffee. If you add up all of the money you’ve spent on fancy coffee this past year, you will be shocked. For example, if you purchase a measly $2 cup of coffee 5 days a week, that adds up to $520 a year! And most people opt for the more expensive cups, so they’re wasting even more money. Instead, invest in a travel mug and brew your coffee from home. You can grind the beans yourself and even purchase a really nice coffeemaker and you’ll have the same thing at a cheaper price.

3. Stop making frivolous, irresponsible purchases. If you really want to save money, you can’t keep wasting it on non-essential purchases. No you don’t need that $400 winter coat and no you don’t need those new mustang seats. Stop with the nonsense and avoid all unnecessary buys. Yes you are allowed to have a little fun here and there, but give yourself a budget and stick to it. Everything else should stay in the bank.

Saving money really isn’t that hard. You just need to be practical and realistic. If you cut the fat from your budget, you’ll be surprised at how much you can save.

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A Student Loan Consolidation Rate Means Lower Monthly Payments

After you have graduated from college or university, it will be time to start paying off your student loans. Since federal student loans are applied for each year, by the time you graduate, you will have several loans at various interest rates. A student loan consolidation makes perfect sense in this case.

By making a choice to apply for a student loan consolidation, a better rate of interest on the outstanding loan can be locked. The former student will also benefit from lower payments each month. This is important for individuals who are just starting their careers.

In addition to the benefits of a lower interest rate, a student loan consolidation makes sense from the point of view of the individual’s credit rating. When you choose to sign the documentation for a student loan consolidation (at any rate), your credit report will show that you have paid off all those outstanding student loans.

When your credit report shows that you have fewer outstanding loans (multiple student loans are replaced by one loan), the number of your credit score will go up. For future loans, a good credit score is vital to getting a better interest rate. Consider a student loan consolidation for this reason.

How to Apply for a Consolidation Loan

The first step in applying for a student loan consolidation is to fill out and submit the required application form. The application can be filled out either online or in a paper format. Once the application has been reviewed and approved, the lender will request payoff statements for each loan to be consolidated.

It can take some time for the consolidation lender to receive these payoff statements, so it is important that the former student continue to make the regular monthly payments on all student loans until the consolidation loan can be processed.

Once the interest rate and the student loan consolidation have been approved, a new federal loan will be taken out in the borrower’s name.

All of the previous student loans will be paid off completely. The former student will have the advantage of making one payment each month. The new payment will be lower, which will free up some cash in the monthly budget for other things.

If the borrower chooses to make these new monthly payments by way of an automatic withdrawal from his or her checking account, it is possible that he or she may be eligible for a lower interest rate on the student loan consolidation.

Basic Introduction To Forex Trading

If you were wondering; forex trading is nothing more than direct access trading of different types of foreign currencies. A few years ago, foreign exchange trading was mostly limited to large banks and institutional traders however; today technological advancements have made it so that small traders can also take advantage of the many benefits of forex trading just by using the various online trading platforms to trade.

The currencies of the world are on a floating exchange rate, and they are always traded in pairs Euro/Dollar, Dollar/Yen, etc. About 85 percent of all daily transactions involve trading of the major currencies.

Four major currency pairs are usually used for investment purposes. They are: Euro against US dollar, US dollar against Japanese yen, British pound against US dollar, and US dollar against Swiss franc. Right now I will show you how they look in the trading market: EUR/USD, USD/JPY, GBP/USD, and USD/CHF. As a note you should know that no dividends are paid on currencies.

If you think one currency will appreciate against another, you may exchange that second currency for the first one and be able to stay in it. In case everything goes as you plan it, eventually you may be able to make the opposite deal in that you may exchange this first currency back for that other and then collect profits from it.

Transactions on the FOREX market are performed by dealers at major banks or FOREX brokerage companies. FOREX is a necessary part of the world wide market, so when you are sleeping in the comfort of your bed, the dealers in Europe are trading currencies with their Japanese counterparts.

Therefore, it is reasonable for you to believe that the FOREX market is active 24 hours a day and dealers at major institutions are working 24/7 in three different shifts. Clients may place take-profit and stop-loss orders with brokers for overnight execution.

Price movements on the FOREX market are very smooth and without the gaps that you face almost every morning on the stock market. The daily turnover on the FOREX market is somewhere around $1.2 trillion, so a new investor can enter and exit positions without any problems.

The fact is that the FOREX market never stops, even on September 11, 2001 you could still get your hands on two-side quotes on currencies. The currency market is the largest and oldest financial market in the world. It is also called the foreign exchange market, FX market for short. It is the biggest and most liquid market in the world, and it is traded mostly through the 24 hour-a-day inter-bank currency market.

When you compare them, you will see that the currency futures market is only one per cent as big. Unlike the futures and stock markets, trading currencies is not centered on an exchange. Trading moves from major banking centers of the U.S. to Australia and New Zealand, to the Far East, to Europe and finally back to the U.S. it is truly a full circle trading game.

In the past, the forex inter-bank market was not available to small speculators because of the large minimum transaction sizes and strict financial requirements.

Banks, major currency dealers and sometimes even very large speculator were the principal dealers. Only they were able to take advantage of the currency market's fantastic liquidity and strong trending nature of many of the world's primary currency exchange rates.

Today, foreign exchange market brokers are able to break down the larger sized inter-bank units, and offer small traders like you and me the opportunity to buy or sell any number of these smaller units. These brokers give any size trader, including individual speculators or smaller companies, the option to trade at the same rates and price movements as the big players who once dominated the market.

As you can see, the foreign exchange market has come a long way. Being successful at it can be intimidating and difficult when you are new to the game. So if you want to step into this market, first thing you do is get the right knowledge and educate yourself until you feel ready to jump in.

15 Money Saving Tips For Families

15 Money Saving Tips For Families

There are many big and small ways to save money. Here are some money saving tips for families for these tough economic times and beyond:

1. If you use credit cards, switch to cards that pay you back - either cash dividends, miles, gas, or goods that you can actually use.

2. Cut your kid's hair yourself - you can pick up an easy "how to" book at your local library. This money saving tip has the added bonus of flexibility and convenience - you can do it whenever you feel like it.

3. And speaking of the library - you can spend a lot of money on kids books without even realizing it. You see a book your kid really likes and it's only $5.99 and before you know it you're out $50. Most likely your kid will read it once or twice and get bored with it. Solution: get a library card and visit your local library on a regular basis. Many libraries also have Story Time and other fun activities for kids of all ages that will have your kids looking forward to the weekly visit.

4. You can save huge money by coloring your own hair or doing your own highlights. You can save about $50 for each color ( x 6 times a year = $300) and about $100 for highlights ( x 4 times a year = $400). It's really easy to do once you get the hang of it. You can find kits with instructions at your local beauty supply store.

5. Take with you snacks and drinks for the kids on family outings (unless you go to a place that specifically prohibits outside food and beverages). Bring a bottle of water with you and fill it at the water fountain. Not only will you be saving money, but also time standing in long lines and ending up buying junk food and caffeinated sugary drinks you had no intention of buying in the first place.

6. Bake your own muffins, brownies and cakes (from a ready mix) - as a single mom with a full time job I always have to weigh cost savings vs. time savings. To me, If I have to slave over an elaborate cake for a few hours in the kitchen it's not worth the money savings. But if I buy a ready mix and have a dozen cup cakes ready in minuets and save some money in the process, I'd give it a thumbs up. Better yet - let the kids do the mixing, and you've got another fun activity to add to your list.

7. Buy generic: prescription drugs, over the counter drugs, cleaning supplies, groceries, ink cartridges, and anything else you can find.

8. Let your kids wash your car - what kid would say 'no' to such a fun activity?

9. Instead of buying 3 extra large Pepperoni Pizzas for $60 for your kid's birthday party, make little cute sandwiches with Turkey & Cheese and PB & J. Everybody will love them.

10. Cancel your gym membership and ride your bike with your kids.

11. Some people swear by the savings they get by switching from paper napkins to clothe napkins, but I'm not a big fan. You'd still have to spend money, energy and effort on washing, drying, folding and putting them away. Paper towels are just so easy that it's hard for me to make a case for cloth napkins, but if you like the idea - go for it!

12. Same goes for making your own play doh - some mothers just love making it themselves and love the money savings, but for me it's just too much work and not enough savings. But again, if you like the idea - go for it!

13. Only run your dishwasher and washing machine when they are full. Another oldie but goodie.

14. Switch your Premium Cable package to Basic package and get Netflix instead.

15. You can find and print free eCards on the Internet for all holidays and any kind of occasion. You can also have your kids make their own cards for Valentine's Day, their buddies birthday parties, and holidays. Those Hallmark cards are SO expensive!

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