Pennysaverblog – Page 226 – Smart Finance and Money Saving Tips

Debt

How You Can Prevent Carrying Debt Into Retirement

When you’re busy with a career and are trying to provide for your family at the very same time, things can definitely start to seem like they’re getting a little bit overwhelming. There are a lot of constant financial responsibilities that we all have to deal with during our lives, and it can get pretty easy to let certain things slip through the cracks. Especially given the behavior of the economy over the course of the last few years, a lot of us have gotten used to living in debt, at least to one degree or another. Perhaps you might not be absolutely drowning in debt, but many of us owe some money to at least one or two creditors these days. It’s tough to live completely debt free, but there are definitely few of us that would think it a good idea to carry any of that debt over into retirement. Of course, when you’re trying to take care of everything else in your very busy life, it can be tough to remember that you’re supposed to consistently be putting away money for your retirement on a regular basis.

If you’re in debt, you’re probably looking for a way to make sure you are completely free and clear by the time you retire. Nobody wants to deal with debt past the point at which they’ve stopped bringing in an income, so if you’re looking to pay everything off before you finish working; you’re definitely on the right track. We’ll talk about a few strategies that will help you settle your debts before it’s time for you to retire.

For one thing, you should be budgeting yourself, and you should be doing so very vigilantly. Sit down and figure out exactly how much you have to spend each month, and where you have to be spending it. Calculate all of your expenses, and then figure out how much money you have left over each month once you’ve met each of your responsibilities. Now you’ll be able to figure out how much money you’re able to contribute to paying off your debts. If you don’t have very much left over, you might want to think about cutting some of your more frivolous or nonessential monthly expenses so that you can retire debt-free.

January 30, 2013

Family

5 Fun And Inexpensive Family Activities

One thing about having children is that they are constantly looking for ways to be entertained. So, while parents find the idea of sitting on the couch and reading a book on the weekends to be absolute heaven, they know that their kids are not going to settle for more than a couple of hours of peace and quiet. This means that there have to be activities “on tap” for parents to be able to provide.

The wonderful thing about this article is that you don’t need to spend a lot of money to apply any of these recommendations. Indeed, there are many things that you can do that are fun for both children and adults with the added bonus being that they are also relatively inexpensive. Here are just five of them:

Do some arts and crafts. A part of the joy of having a child is that they love to learn to do something new. Whether it’s finger painting or jewelry making or learning how to knit or crochet (or even build models), consider setting some time aside to do some arts and crafts. It’s nice quality time that you can spend with your child and certain learned activities can stay with them for years to come.

January 29, 2013

General

5 Car Depreciation Facts You Should Know

You’ve no doubt heard that a new car loses thousands of dollars in value the moment you drive it off the lot. In fact, it is rumored that the loss could be as much as a third of overall value. This may not be quite accurate, but once you sign on the dotted line and take ownership of the vehicle, there’s no denying that it automatically becomes worth a little less (because it can only be resold with the caveat that it’s had a previous owner). So before you go into debt to purchase a new car, you might want to consider that there are other options (certified pre-owned vehicles, for example). And knowing the facts about depreciation could just help you to make an informed decision. Here are a few tidbits you might not be aware of.

Accidents are a major cause of depreciation. When it comes to accidents, most people seem to be under the impression that as long as there is no frame damage and their vehicle is restored to original condition they won’t see any additional depreciation. Sadly, this is not true, especially with websites like Carfax that let anyone see your car’s history. The truth is that if all things are equal, a car that has a clean history is going to be worth more when it comes to resale.

January 29, 2013

Travel & Entertainment

5 Ways To Save Money When You Book A Cruise

Cruising has become one of the most popular vacation options over the past couple of decades. While not much has changed when it comes to seafaring technology since World War II you wouldn’t know it when you first step foot upon a modern cruise ship. These things are marvels of technology and entertainment. You’ll find food that rivals Michelin-rated restaurants, world-class entertainment, Wi-Fi lounges that work even in the middle of the ocean and even a rock climbing wall. You get it all, plus stops at some of the most spectacular ports of call in the world. You can see most of the Caribbean or the Mediterranean in a week’s time on a cruise, and there’s something for the whole family to enjoy. All of that value aside, you’re still going to want to be as frugal as possible. It’s just a necessity these days. So here are five ways to save money when you book a cruise.

First of all, book as early as you can. A state-of-the-art cruise ship is literally a floating resort, and the line loses money if a ship departs with empty cabins. They’ll want to fill as many spots as they can, as early as possible. So keep tabs on the schedule and try to book your trip as much as six months in advance. You’ll find the cheapest rates that way.

You can also save money on a cruise vacation by traveling in a group. The larger your party, the deeper the discount they’ll be willing to give you. If you’ve got children in the party you might find even more savings. Many cruise lines will book children under a certain age for free or for a steep savings, to encourage the rest of the family to come along.

January 28, 2013

General

5 Reasons Your Home Won’t Sell And What You Can Do About It

Pundits and experts have pegged 2013 as the year that the housing market will truly start to rebound, showing a significant increase in sales and perhaps even a bump in pricing. This is apparently thanks to a foreclosure market that is finally drying up, giving homeowners a chance to compete for sales. But don’t start counting your chickens before they hatch; we’re still in a recession. And if you’ve had your home on the market for a while with nary a nibble, you can no doubt attest to the continuing sorry state of our economy. Of course, the recession may not be totally to blame for your real estate woes. There could be a number of roadblocks that are preventing you from attracting buyers. Here are just a few that could be thwarting your efforts and how you can go about fixing them.

It won’t pass inspection. Unless you’re intent on selling your home “as is” (a prospect that won’t appeal to very many buyers unless the price is right, which is to say bargain basement), you need to fix any violations uncovered by a home inspector. The reason is this: if your home doesn’t pass inspection, no bank will loan a buyer the money to purchase it. Luckily, all you have to do is get your property up to code. The home inspector will give you a detailed list of what needs to be fixed (and possibly even recommend vendors for the job).

High price. You obviously want to get the best value from your home when it comes time to sell, but in a depressed market you’re going to have to temper that urge with a healthy dose of reality. You’re not going to get anywhere near the same value as you would have before the bubble burst, so put that thought out of your head. The best you can really hope for is the top end of your current market, but even that is a risky gamble. Of course, if you overestimate the interest in your home, you can always drop the price, but that, too, could be problematic (read on).

January 28, 2013

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