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Articles posted in the savings category

5 Reasons to Buy a Home Now
January 20, 2009 by Chase
There’s a brief exchange I had a few years ago with a friend’s father that I’ll never forget. We were sitting outside a Washington DC lunch spot talking about what I was going to do when I got out of college when I asked Mark, who’s been a real estate developer in Maryland for years, whether or not real estate would forever exist as a lucrative business. His answer was short, but it explained every ...
Maximize Your Annuity Payouts Before It’s Too Late
January 16, 2009 by Chase
If you were planning on holding off on making a charitable donation until after February, it may be time to reconsider. The American Council on Gift Annuities, the organization that operates under an exemption from federal antitrust laws and sets rates on charitable gift annuities, announced recently that they plan on cutting payout rates by as much as 15% for all annuities arranged after February 1. So how does this affect you? Every time you make a contribution of cash or ...
2009 Senior Savings Get a Boost from Congress
January 5, 2009 by Alexis
Senior citizens across the country got good news in December when reports out of Washington stated that Congress suspended the law that requires those 70 ½ or older to withdraw funds from their retirement plans in 2009, even if they don’t need the money. Traditionally, senior citizens have had to withdraw what’s known as “required minimum distributions,” or RMDs, every year, with the price tag based individually on the IRA owner’s age and IRA balance on December 31 of the ...
Using the Economic Downturn to Teach Kids About Saving
December 2, 2008 by Alexis
During the economic downturn, saving money is important and teaching kids to save is even more important. There is a theory that perhaps part of the reason we are struggling through a recession is due to the fact that money has been spent so unwisely over the years with little to no money in savings. Parents may not know how to approach the topic of finances with their children. They may feel it is a personal matter better left ...
Easy Ways To Save Money During The Holidays
December 1, 2008 by Alexis
The holiday season, while joyous, can be stressful for shoppers. With economic conditions weakening, financial situations in homes across America have decreased substantially. With a few helpful tips, there are easy ways to save money during the holidays that way you can enjoy the spirit of gift giving while sparing your wallet at the same time. It is possible to save money without skimping out on your loved ones. All that is needed is a little creativity, thoughtful thinking ...
Save It Before You See It
April 17, 2008 by Rachel
Could you benefit by saving money you don't see each month? I suspect that there are plenty of people that treat their money the way I do - whatever is left gets spent (and then some)! For people like me, figuring out a way to save money "automatically" can make a huge difference in your bottom line.  If you need to save, save it before you see the NET each month.  If you need to invest, send it straight ...
Making It Through Money Emergencies
February 28, 2008 by Rachel
Money emergencies are inevitable!  They occur at inconvenient times; they cause frustration and anxiety; and they are detrimental to budgets, especially tight ones.  Unfortunately, many people are unprepared to handle money emergencies without accumulating additional debt and/or risking long-term investments.   While it is impossible to stop money emergencies from happening, it is very possible to minimize their effects.  An "emergency fund", sometimes referred to as "rainy day funds" or "non-retirement savings", will provide peace of mind, time and ...
Need Help Saving Money? Try “America Saves” Week
February 25, 2008 by Rachel
Where is "saving money"on your list of financial priorities?  If it is a low or non-existent priority, you are not alone.  Millions of Americans live "paycheck to paycheck" with no financial cushion.  For the last couple of years, the personal savings rate in America has been negative.  Obviously, saving little or nothing has become a way of life.  Fortunately, living on the financial edge doesn't have to stay a way of life!  February 24 - March 2, 2008 is the 2nd ...
Cutting Costs By Clipping Coupons
October 22, 2007 by Rachel
Month after month, one of the most expensive spending categories in our budget is FOOD.  One of the ways we try to control our food costs is by using coupons.  Without questions, coupons can save money.  Even casual coupon usage can add up to significant savings over time.  If you use coupons, you are not alone.  According to the Promotion Marketing Association, "coupon clippers represent 86% of the overall U.S. population."  Additionally, "manufacturers offered over $300 billion in coupon savings ...
Working (and solving) the Educational Savings Puzzle
September 13, 2007 by Rachel
"The main difference between real-life puzzles and artificially constructed ones is that the former have no identifiably correct solutions, while the latter always do." - Will Shortz Many parents would argue that the puzzle of saving for education is the most challenging one they face. As with any puzzle, it can be worked in more than one way. Treating this issue like a jigsaw puzzle may help. It can be addressed systematically and, no matter the order in which ...
Where should children save money?
August 16, 2007 by Rachel
NOTE:  This post addresses general savings options, NOT educational savings options.  Educational savings options will be covered in a later post.     Parents are responsible for teaching their children LOTS of things!  One of the major things children have to learn and understand is FINANCES.  In particular, children need to understand the importance of saving and "growing" money.  Not growing it on a tree, mind you, but growing it through budgeting and making wise choices.  Before parents can teach their ...
Put your article here…
August 14, 2007 by Rachel
If you have an article that you would like to have featured on My Money Thinks, submit it for our blog carnival consideration.  We are accepting articles related to all areas of personal finance and we want to read what you have written. SUBMISSION DEADLINE: Saturday, August 25, 2007 Links to accepted articles will be posted on Tuesday, August 28, 2007  ALL submissions should be sent to http://blogcarnival.com/bc/cprof_2240.html We cannot wait to hear from ...
Get interested in “getting” interest
August 13, 2007 by Rachel
   Are you one of those people that is not interested in interest?  If so, you might want to get interested.  Not just in earning interest but in "getting" (understanding) it also!  Whether you realize it or not, you have an interest in interest.  It affects your mortgage, your car loan, your unsecured debt and your investments.  Interest affects your cash flow and, thus, your daily life.  The concept of interest is not a difficult one to understand.  The application ...
Money can be flexible
August 9, 2007 by Rachel
   If you knew that you could reduce your tax burden legally and simply would you?  If your employer offers a Flexible Spending Account as part of your benefit package, you can do just that!    Flexible Spending Accounts (FSAs) are also referred to as "reimbursement accounts" or "flexible spending arrangements".  These accounts allow employees to deposit money from their paychecks into a spending account that is used to pay for out of pocket medical expenses.  FSAs are governed by the ...
OSAs are MVPs
August 6, 2007 by Rachel
   In spite of a number of "doom and gloom" reports regarding the poor savings habits (or lack thereof) of Americans, consumers cannot complain about the availability of high-yield savings options.  The majority of those high-yield accounts are provided via the Internet in online (or "virtual") banks.    Online banking has origins that go back three decades.  Telephone banking was the 1st option for customer controlled, at home management of bank accounts.  The beginning of online banking, as we recognize it ...
5 Strategies for “Sales Tax Holiday” Shopping
July 30, 2007 by Rachel
If you are lucky, you live in a state (and a city) that offers a "sales tax holiday" for back to school shopping. Slowly but surely, more states legislatures across the country are passing laws that suspend, albeit temporarily, the collection of sales tax for a few days during back to school shopping season. No sales tax CAN lead to significant savings but even this "holiday" has limitations. Make sure you get all the information you need before loading ...
Save $10 Next Week
July 27, 2007 by Rachel
Here are 10 easy ways to save AT LEAST $1.  Try them next week and see just how much "extra" money you find!  1.  PAY CASH - Research shows that you WILL SPEND MORE when you pay for your purchases with plastic (debit or credit).  Depending on which estimate you read, purchases made using plastic will be 30-47% GREATER than purchases made with cash.  If you pay cash for just 2 or 3 purchases that you would normally pay for with plastic, you will ...
Simple Supermarket Savings
June 20, 2007 by Rachel
One of the largest categories in our monthly budget is FOOD.  Here are just a few ideas that save me money at the store without costing me a lot of time in preparation! 1.  SHOP REGULARLY - When you shop on a regular basis, you begin to get a feel for what things cost.  Consequently, when you run across a bargain, you will know it and you can take advantage of it. 2.  PLAN YOUR MEALS AHEAD OF TIME - Trying ...