Saving Money Archives

5 Things to do When You Pay off a Debt

First off, congratulations; it is a huge accomplishment to pay off a debt.  You feel the weight off of your shoulders and get rid of the feeling that you are continuing to sink deeper into debt.  Now that you have tackled this obstacle it is time to stay disciplined and continue on the path of financial freedom away from debt.  Once your debt is gone there are a few next steps to stay ahead of the game.

Check Your Credit Report & Score

Getting out of debt is a glorious feeling, it’s easy to get caught up in the moment and start spending that discretionary income again. To quash that urge you should first check your credit score to see how much it improved since paying off that debt. If you are unfamiliar with score, you can see what a good score is here

Figure Next Financial Steps

The next move is to figure out what your next financial move is.  Is there more you need to pay off, do you need to start setting up a savings account for the extra money, or maybe you need to create a budget to curb spending going forward in order to not repeat previous mistakes.  Whatever you do, make sure saving is high on the list.

Move onto the Next One

If one debt is down, it is time to move onto the next until they are all paid off.  Try the next smallest balance to feel even more accomplishment, or try and tackle the debt with the largest interest rate so you can apply more towards principle and get rid of it.

Stash More Away for Rainy Day

Experts say that you should have between three and six months of living expenses put away in case of a job loss or a large unexpected repair such as your car or home appliance, so if you have not started to save, now is the time.

Save for Next Purchase

The trick to staying out of debt is to not continue to make unnecessary purchases, and to only spend what you can afford, so if there is an upcoming purchase that you want to make, now is the time to start saving, whether it is for a new car, home down payment, or even planning the next family vacation.


Forex trading is not as easy as it seems. There are many ups and downs in the Forex market and every trader has to be really smart in understanding these moves. Using sound strategies and the use of good tools for trading online are the two things which really help every trader to achieve success in the long run. Forex currency converter is one of the best Forex tools which is considered as the best friend of a disciplined Forex trader.

What is Forex currency converter?

A Forex currency converter is an online application or software which helps in converting one currency value into the equivalent value of another currency. For example you want to know how much will be the value of 20 US dollars in terms of Japanese Yen at the current market rate. The result can be obtained by using a Forex currency converter and you can similarly know the values of other currencies in terms of other currencies.

A Forex converter cab be of two types – one is downloadable software and other is web application. Both use feeds from the real time exchange rate and you get the updated market exchange rates for effective trading online experience. But the frequency of update is different in different Forex converters and some update it hourly while some do it daily. Most of the Forex currency converters show the currency values up to 4 decimal places.

How Forex converter is useful for trading online?

A Forex currency converter is the best friend of a Forex trader as it helps him know about the latest currency exchange rates when trading online with XTrade. Knowing the current market rates is very important for an active Forex trader and based on the present rates he can take a trade decision.

A Forex trader who is constantly traveling to different parts of the world can rely on an online Forex converter which can show the real currency prices and conversions whenever he needs it.  A live Forex currency converter can be of great help to a day trader who needs a converter constantly in order to make trades instantly when he feels the need to open a trade. A Forex trader cannot think of doing the Forex trading online business if there is no such currency converter assisting in knowing the currency rates as well as planning the strategy on the basis of that.

With the use of a currency converter a trader gets the overview of the current market trend and can decide his strategy further on the basis of the going trend of the currency market. Not only the traders but currency converter is used by travelers as well as businessmen who make a business in countries abroad.

Ways you can Save Money in College

Just as every other college is different, every student is different. The only common experience for most students is the constant shortage of finances during their college years. Care packages from home are less frequent and it seems like every other time you confirm your account the balance gets smaller at a very high rate. To avoid insufficient money to spend when in college, you should learn how to budget and save the little you have to stay away from hefty debts.

Finances become an issue, especially if you do not have any experience in budgeting and saving. Keep in mind that money does not grow on trees and things do not get any cheaper therefore manage your cash well. Below we will look at some ways on how to save money in college:

Learn to Save Everyday and Remain Cool

Life on campus comes with many temptations for the naive student. You can blow through your spending without even realizing how fast it is going on a number of ways. Nevertheless, there are many ways to save your money while in the campus without denying yourself the adventures and fun moments that college has to offer.

Food Expenses

Meals are a big offender because they can put a huge dent on your funds in college. Certainly, you will have to eat, but if you cultivate a little discipline on your food budget, then you can save large sums of money. In this case, consider the following tips which will help you manage your food expenses when in college.

  1. Come up with a weekly food budget that you will stick to the whole week.
  2. Take college meals if you have paid for them instead of purchasing more food.
  3. Completely cut off unnecessary restaurant spending habits. This can seriously compromise your food budget.
  4. Avoid taking alcoholic drinks in bars and restaurants. The cost of night outs will strain you financially and this will cause serious implications on your overall budget. Otherwise, make sure you allot a sufficient amount of funds for this category in your weekly food budget.
  5. Eliminate daily smoothies, coffee drinks, and other treats. These treats are costly and a regular habit could add up quite fast therefore taking a very large chunk of your funds. Alternatively, you can buy a cheap blender or coffee maker and make your own drinks since it is a cheaper option.

Food is an essential requirement, but with some little budgeting and planning, it is possible for you to save a lot of money. As you are strict with your studies, be as strict with your food spending and you will avoid writing home for emergency funds.

Smart Saves on College Expenses

Necessities take up quite a large fraction of your fund. Tuition, fees, books, furniture, clothing, lab fees add up fast, thus leaving you with a small amount of cash to spend on entertainment and food. While these costs cannot be avoided, we have better ways to manage them and eventually save some money. The following tips will be of help:

  1. Buy used textbooks when possible. The cost of textbooks can be despicable, but used books can even cost half the prices of new ones. By so doing, you could stretch your funds a little more.
  2. Set up a college savings plan and make the most out of the funds you save.
  3. Pursue scholarships if possible, even beyond your first college year. Grants and scholarships help a great deal in reducing the overall cost of your college education. Also, in addition to applying for traditional scholarships, checking out weird scholarships might offer easier wins as the competition is generally lower for many. Remember that most of the scholarships are renewable.
  4. Once you are done with your textbooks, sell them to the campus bookstore or try selling them online. Either way you will recoup some money by passing your used textbooks on.
  5. Get a part time job where you can work on your leisure time.

In conclusion, it is possible to save money in college so long as you know how to plan your funds. Always analyze your monthly expenses and plan on how to cut back. Maintaining a budget is not as straight forward as you think and it calls for a lot of discipline to do so. On the other hand, reduce all unnecessary expenses and by so doing you will realize your funds stretching further than you may think.

The Advantages and Disadvantages of Ride Sharing

Car sharing services have taken off exponentially the world over in the past few years, with options ranging from ZipCar to RelayRides. These operate in slightly different ways. Some, like Uber or Lyft, work by allowing motorists to drive other passengers around the city for an informal taxi ride. Others, like RelayRides, allow car owners to rent out their car to other motorists. Finally, services like ZipCar allow motorists in cities to gain access to a private car when and where they need it, such as running errands. With the cost of car ownership so high, services like these can be quite appealing as alternatives to making a purchase. Yet there are advantages and disadvantages to consider first.


One of the primary benefits of using ride sharing services is that you save the cost of car ownership. You don’t have to worry about your car being stolen or broken into, or pay the cost of car insurance and fuel each month. For those who don’t drive too often, it makes sense to only pay for a car when they need it. Ride sharing services are also popular among people who are interested in reducing their impact on the environment. Carpooling leads to fewer cars on the road, which equals fewer carbon emissions.

Families may be drawn to ride sharing services to avoid the cost of a second car. Saving that second car payment leaves families with more money to put towards retirement or a down payment for a house. At the same time, if someone wants to run errands and the primary family car is in use, they can simply hire a ride share vehicle for that big grocery trip or to attend a meeting on time.


While there are many benefits associated with ride sharing services, there are also a few issues to consider. For those interested in renting out their vehicle using RelayRides or a similar service, liability can be an issue. If there’s an accident in your car, you may be held liable for it. You may need to take out additional insurance to cover this possibility. Another disadvantage is that there’s no guarantee you will be able to find a car when you need one. It can be hard to find available ride share vehicles on rainy days or during rush hour, for example. It’s harder to make spontaneous trips using ride share services like ZipCar. Instead, you need to plan ahead a little bit to make use of this type of service. If no cars are available, you may be stuck with a high taxi fee.

Overall, there are numerous advantages to ride sharing as well as a few drawbacks. If you’re dedicated to a greener lifestyle but still want to have instant access to a car for regular use, you could look at electric options like this Holden Volt at Carsales. On the other hand, if you’re only an occasional driver and live in an urban area, a ride sharing service may be the perfect solution.

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