Are you one of those people who doesn’t open their bank or credit card statements? Do you take out store cards on the spur of the moment? Have you been with the same bank simply because it is less hassle than changing?
If you have answered yes to any of the above questions, fear not confused consumer, help is at hand, with some assistance from a few internet tools.
Websites such as Fool.com, Fool.co.uk and Moneysavingexpert.com have proved extremely popular with consumers. Fool.com is more geared towards the US market, whilst Fool.co.uk focuses on the UK market. Both have an extremely diverse selection of information from investment and high risk options to personal finance and low risk options. There are extensive discussion boards, newsletter subscriptions, finance calculators and competitions. These sites not only answer your questions, they make you want to ask more.
Fool.com, Fool.co.uk and Moneysavingexpert.com are community based sites and function on consumers exchanging information between themselves, whether that’s about passing on recommendations or expressing concerns. The article “Ten Reasons To Fear The Future” by Cliff D’Arcy” on Fool.co.uk is a particularly good introduction to the financial aspects of modern life.
Martin Lewis has almost become a household name in the UK through his website Moneysavingexpert. The outspoken journalist and presenter offers a comprehensive resource on a range of personal finance topics. If you can put up with the cheesey photos of Mr Lewis and his catalogue poses, you will undoubtedly find this site extremely helpful.
Kelkoo , moneynet.co.uk and Lowermybills.com (US) are now commonly exploited by consumers to ensure they are getting the best deal on their purchases. However, it is probably fair to say that more people shop around for clothes and music, than they do for their personal finance products, which is worrying as these cost significantly more.
The internet can be a scary thing and there is still much scaremongering about online security. However your details are often as secure online, as they are offline and providing you choose and hide your password effectively – there should not be a problem with people accessing your confidential information. Choose a password of eight characters or more, preferably replacing some letters with numbers, such “1nternet” or “passw0rd”.
Set yourself up with online accounts and you can proactively manage your finances yourself, without waiting for statements through the post or call centre agents to take your query. You can also save yourself bank charges by transferring funds yourself over the internet. Some banks charge large amounts for transferring funds when you can do it for no additional cost at all.
Personal finance doesn’t have to be about debt and the efficient co-ordination of funds may save you hundreds of pounds in the long-term.
Resources:
www.fool.com
www.moneynet.co.uk
A budget is a systematic plan for the expenditure of a usually fixed resource, such as money or time, during a given period. As a single mother you might groan at the thought of putting together a household budget with all your expenses, but it's easy to do and will also help you become very financially organized.
Shaping up your finances is particularly important if you are experiencing a life altering experience such as a marriage, divorce, new baby or any other event that changes your finances dramatically. Whatever the state of your financial life, developing a sensible household budget
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Whatever your reason for having a tight budget, the truth is that going to the grocery store without a plan is a BIG budget breaker. And sadly all that cash ends up vanishing into our stomachs and then...well, you know what comes next.
But if you only had $300 a month to spend on groceries for a family of four, could you do it? What sort of food would make the list and what would stay tauntingly on the store's shelves?
Could you save $25 a month on groceries? How about $50 or $100?
Possibly you could cut your bill by almost 50% if you
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There are a number of ways that people can use to manage money to stay out of debt and even establish savings over time.
The first, and maybe the most important step, is to set a
budget for yourself and stick by it. Take a look at your
household income and outgo. Set the budget up to accommodate
your payday schedule. In other words, if you get paid once a
month, then you have to budget accordingly so that you won’t
run out of money before the end of the month. If you get paid
every two weeks, or every week, figure
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Budgeting. It's a word we're all familiar with. Everyone knows
what a budget is, right? Yet how many of us actually make and
stick to a solid monthly budget? The truth is that most of us
start out with the best of intentions, but an unexpected
expense comes up and busts our budget. Then we give up and go
back to juggling our finances and worrying about having too
much month left at the end of the money. However, if you are
striving to create a budget for the purpose of systematically
paying off your debts, or to start a savings and investment
program, then it's critical to develop
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Mention the “b” word, as in BUDGET, to a friend and they’ll look at you like you have a third eye growing from the middle of your forehead. For most people the word budget too often carries negative meanings such as limits, restrictions, living on an allowance, giving things up, no shopping, no fun.
Unfortunately, the point they’re missing is that a budget doesn’t limit you but instead gives you freedom. That’s right - FREEDOM. The words “budget” and “freedom” are not mutually exclusive, once you understand what a budget can do for you.
Having and using a budget will
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