Pennysaverblog – Page 180 – Smart Finance and Money Saving Tips

Investing

What Do You Use Your TFSA For?

The Tax Free Savings Account (TFSA) has been around for a few years now. A TFSA can be used for virtually any type of savings goal. So, what are you saving for in your TFSA?

When TFSAs were first introduced in 2009, my husband and I each opened one up immediately. We had very little knowledge of how we could use them, but we were attracted by the feature of not having to pay income tax on any interest we earned on the accounts.

Consider investing – As time progressed and we learned more about the TFSA, we bought some investments within our TFSAs, as we realized that we could save for longer term goals within these accounts, too, not just short term ones.

Open more than one – We also discovered that we could open up more than one – by doing so we could save for different savings goals in different TFSAs, eliminating confusion.

November 6, 2013

Banking

How To Benefit From Having Multiple Savings Accounts

Do you know anyone who has two savings accounts? Do you know why they have two savings accounts? Did you know that many financially savvy people do this in order to stash their money away in places where they don’t have quick access to it?

So, why is having more than one savings account beneficial? The reason this is beneficial to you is because you can save money in different places in order to meet different goals. For example, if you want to save for a vacation sometime in the future, then you can use one of these accounts as your vacation savings account. Let’s say you want to save for college as well, this is where the other account will come in handy. What you need to understand is that by putting money into a separate account for a certain purpose is a really great way to save, and in fact, it makes saving easier as you will be able to see your progress more easily.

November 3, 2013

Money Saving Tips

Home Energy Bills: 5 Ways To Save During The Holidays

When you’re in the midst of entertaining guests, decorating your home (on both the inside and outside) and doing a lot of holiday cooking, it’s totally understandable how your energy bills could end up being higher than they are any time of the year. However, just because that is a reality for many, that doesn’t mean that there aren’t certain things that you can do this year to avoid spending more than what is in your budget.

If you’d like some tips on how you can save on your home energy bills during the holidays, we have five helpful ones for you below:

Change your window treatments. If you happened to walk past one of your windows, felt a bit of a draft and you don’t have double-pane windows installed, it could be that there’s a crack or small hole around the sides of your windows. One way to fix it is by applying some caulking. Also, go to a local Target or Wal-Mart to purchase some thermal curtains. They come in a variety of styles and colors, they’re affordable and they’re specifically designed to keep cold air from coming into the rooms of your house.

Check your insulation. One of the reasons why we have insulation inside of our homes is to help protect us from outside temperatures. So, in order to make sure that you have the proper support that you need, go into your attic to make sure that your insulation appears light and fluffy (as opposed to hard and broken) and that it’s about 12″ in thickness. If it’s not, replace your insulation with sheep’s wool, cotton or aerogel.

October 31, 2013

General

Cheap Tutoring Options For High School Students

Most of us remember what it was like to be in high school. More specifically, to be in a class in high school where either we didn’t really understand what was going on or, when we got our test scores back, they were lower than we thought they would be. It wasn’t so much that we didn’t study; it’s simply that we were having a harder time in that particular subject than others. And if our parents were playing close attention to all of this, one of the things that they might have done was gotten us a tutor.

Now we’re the parents and we see our son or daughter in a similar situation. If you want to get someone to assist them but your budget is tight, we want to share with you five cheap tutoring options; that way, your child can get the help that they need and you won’t have to spend a fortune in the process.

Check with their school. There are a lot of high schools that offer tutoring services (especially peer-to-peer ones) after school that are free of charge and so the first thing that we recommend is that you check with the administration. Chances are, even if your child’s high school doesn’t, they can put you in touch with a teacher or upperclassmen who can be of assistance.

October 30, 2013

Money Saving Tips

5 Tips To Help You Avoid Expensive Auto Repairs

If there’s one thing that we use on a daily basis that we tend to take for granted, it would have to be our vehicles. In fact, unless we need to put gas in the car, we usually don’t even give it a second thought. That is until we hop into the car to go somewhere and either it doesn’t start or it starts to make a funny noise. Then we know that it’s time to take it to a professional.

If you’re anything like us and you’re on a budget so you want to know how you can avoid expensive auto repair fees, you’re in luck. Below, we’re going to share with you five tips that will help to keep you on the road without breaking the bank in the process.

Pay attention to the warnings. The brilliant thing about car manufacturers is that they design vehicles in such a way that your car will provide you with certain signals to let you know when it is in need of some service. For instance, if you hear a squeaking sound when you hit your brakes, it’s time to get some new brake pads. Or if you notice your check engine light is on, you definitely need to see a mechanic. By simply adhering to these kinds of warnings, it can be the difference between spending a few dollars and literally hundreds on repairs.

October 29, 2013

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