As the country continues to struggle economically and the threat of a new recession is a very real possibility, many people will soon be reassessing finances again in order to see the areas in which money could be saved. If you are short on pennies or are facing financial trouble due to an expected emergency, check out these 5 ways of improving the situation and putting yourself on a far more comfortable financial footing.

Method One: Cut Down on Spending

As payday draws ever nearer each month, you will undoubtedly be looking forward to a little spending spree whilst your bank balance looks healthy. We are all prone to spending too much every so often however if you are trying to save money, cutting down on excessive spending on non-essentials is highly advisable.

Essentials including food, shopping and bills are a must however if you are prone to enjoying several meals out over the course of a month or spend every Saturday strolling round the shops, cutting down may be the best option. Instead, enjoy one or two nights out to ensure you really make the most of it and as most chefs will also tell you, there is nothing quite like hearty home-cooked food. When it comes to shopping, perhaps one shopping trip a month could see you through?

Method Two- Obtain Financial Help

Whilst obtaining financial help in the form of a loan may seem daunting, the process is far more simple and straightforward than you may think. With an online lender, the application procedure can be completed from the comfort of your own home and should you be approved, the money you require can be sent to your bank account in as little as ten minutes of approval.

Although you may worry about lengthy repayments with unexpected hidden costs, choosing a reputable online lender will make a big difference as every detail of your loan will be made available to you before you submit your application.

Method Three- Cut Travel Expenses

In today’s society, with prices continually on the rise, one of the largest expenses over the course of a month is now fuel. If you are forced to travel long distances on a regular basis due to work commitments, discuss the possibility of a car share with a fellow employee who lives in your area. This will enable you to share the cost of fuel and see an immediate reduction in the amount you spend each month.

For shorter journeys, consider the possibility of walking or cycling as alongside saving money on fuel costs, you will also be promoting a healthier lifestyle due to regular exercise. You never know, you may enjoy not using your car as much!

Method Four- Budget, Budget, Budget!

It may sound like a boring thing to do however effectively budgeting can make all the difference. Work out what you need to spend each month, compare this to how much you get paid and then whatever is left over will be there for you to enjoy.

By creating a spreadsheet or a simple list that is stuck on the front of the fridge, you will be able to see what outgoings you have for the month ahead and will then not be left struggling for funds at the back end of the month.

Method Five: Don’t Suffer in Silence

The worst thing you can do when struggling financially is to suffer in silence and bury your head in the sand. The situation will not resolve itself so you need to take positive steps to improving your finances. Talk to a family member, friend or even a financial expert as they will be able to offer advice and guidance on the best way to move forward. In addition, talking to someone will ease the pressure on you and will be a big weight off your mind.

If you are fed up with struggling through each month, take these five methods of improving your finances into consideration and you could well see significant improvements in the overall situation. Dealing with financial matters, especially your own, shouldn’t be a scary proposition so take the first steps to a more secure financial future today.

Written by Oliver Kyle on behalf of Pounds to Pocket; a fully licensed lender providing unsecured loans to help resolve all manner of financial situations.

Starting at university can be a daunting task. For many it will be the first step towards independence so any help or advice is a good idea to take on board.

For those who have not spent time away from home before, there are a lot of new responsibilities that you must be accountable for – such as your finances. During your first year in halls of residence, you will be helped out quite a bit as the halls of residence offer a lot of support to help you manage your finances better. Utility and electricity bills are included in the rental fee; therefore you only have to pay one all-inclusive bill and the terms of rental are usually only relevant during term times.

However, after your first year, you may decide to move into other independent living quarters. This can be quite a shock to the system as now you will be responsible for paying all of your bills separately: rent, gas, electric not to mention new travel costs. You will be expected to be able to manage your finances well.

4 top tips for managing your finances and ensuring you live a comfortable and worry free student life are listed below:

1. Keep an eye out around campus for signs and posters advertising special offers and discounts for students in shops. You can save on many necessary products this way. Especially when purchasing books and stationery. Always ask if student discount if offered in store before making your purchase and keep an eye out online for any special discounted software for pupils. By purchasing this software you are ensuring that you have the best software available to aid you in your studies but making amazing savings at the same time.
2. During your time in shared housing, it is a good idea to try and time your shopping, cooking and heating with your housemates. By cooking together and shopping together you can really save on electricity and gas costs as well as being able to buy in bulk at the supermarket.
3. Set your finances out in advance of each term by making a note of all of your expenses so you know that you will have enough money to last you the whole term. Expenses may include: rent, utility bills, food, books and travel. Divide the total cost of these over the number of weeks in the term and you will be able to see clearly how much money you have left over per week. By having a clear understanding of your finances, it will be easier to handle any unexpected costs that may come along.
4. Transport can become quite an expensive addition you your university costs. To combat any travel costs spiraling out of control, try and find accommodation close to campus. That way you can walk into your lectures each day. Perhaps bring a bicycle or purchase a second hand one to get you from place to place during term time and consider investing in a bus or train pass in order to visit home at a reduced cost.

Perhaps of all expenses at university the software is the biggest single expense. It is also one of the most important necessities to aid you in your studies. Purchasing specially discounted software for pupils online will dramatically reduce your software costs and enable you to have the best start.

News that you’re pregnant brings a tremendous amount of excitement and also a great deal of stress. Both are incredibly normal reactions, whether it’s your first child or fifth. Along with your new bundle of joy is going to come a change in your finances. By preparing early, you’ll be better able to make room in your budget for baby.

Stay Calm

While it’s completely normal to have a bit of a panic attack at the overwhelming thought of raising a child for the next 18 years, do your best to remain calm. Give yourself a day to freak out and then settle yourself down. By the time baby comes, chances are you’re going to be so well-prepared that you won’t even realize what she is costing you on a day-to-day basis.

Create a Baby Budget

Sit down together and create a list of short and long-term financial goals as they pertain to your child. Are you going to breast feed? If so, you won’t need a ton of cash for formula. Are you going to send your child off to a private day care? These are things that need to be considered before your child is born but don’t worry if you leave something off of your list; it can easily be added later.

Do plan on spending between $100 and $200 a month on your baby for things like food, diapers and clothes. This money should be added into your budget for immediate use when the baby is born. Because it is an immediate need, any monies for future day care or school tuition should be added on top of this basic amount.

Pay Off Debt

As soon as you find out your pregnant, begin to pay off as much of your debt as you can. Credit card debt and short term loans should be paid off if at all possible. This will free up some of your money each month. Add the money you’ll save into your baby savings account.

Buy Life Insurance

Part of being a parent is making sure your child is taken care of and provided for should you die. While it’s not something any new parent wants to think about, it’s a fact of life that bad things happen. Your new policy should be at least eight times your yearly income. For instance, if you make $40K a year, your life insurance policy should provide for $320K. If you can afford more coverage, by all means, go for it!

Plan for Daycare

If you’re going to be going back to work after the baby is born, you’ll need to arrange daycare. Will Grandma and Grandpa be watching your child while you are at work? If you can find a friend or family member that is willing to help you out, you’ll end up paying far less than you will for private daycare. You’ll also need to decide if going back to work makes financial sense. If your paycheck will simply be paying for childcare and gas, it might make better sense to stay home.

Don’t sweat the small stuff! Becoming a parent is scary enough without spending all of your time worrying about money. With a bit of advanced planning, and help from family and friends, you’ll be fine!

Author Thomas Hathaway is a financial consultant and content contributor to paydayloans, a site providing information and advances when you may need an advance to your regular paycheck.

Image credit =Dos rayitas by Esparta

Whether you’ve always had a budget, just started to budget, or think “budget” is a scary word, you probably have at least one financial weakness.  We all do.  We’re only human, after all, and money management doesn’t always come naturally.  We don’t always want to use our money sensibly, so sometimes we don’t.

Saving money can seem hard because it is a long term goal.  To save enough for the things we want in adulthood can take years, and we naturally may get discouraged.  Not everyone can afford to save much once the household bills and expenses like health insurance premiums have been paid. Even if you’re not actively saving or budgeting, you may wonder how on Earth you manage to spend your entire paycheck every month.

And this is when your financial weakness slips in to bite you.  That daily cup of coffee from your favorite café may seem small, but think of how it adds up.  Same goes for your regular evenings out with your friends, or your online shopping habit.  What can you do?

Identify your Weakness

First, figure out where your specific issue or issues are.  If you have a budget already, this is probably the easy part.  But if you don’t, spend a few weeks tracking your expenses by keeping receipts and writing down what you spend.  If you spend exclusively with debit or credit cards, you can look at your monthly statements as a shortcut.  Then you’ll have a clear picture of where your money is going.

Now really look at what you spent and start to categorize.  If you are shocked by the amount that falls into any single category, that is probably a great place to start.

Set a Limit

Once you can see how much you’re spending on your weakness, it’s time to decide how much you want to cut back.  This is entirely up to you, your goals and your budget.  But you shouldn’t just pick an arbitrary number; really think about what that number will mean to you.  Can you live with a budget that involves going out to lunch no more than once a week, or can’t you?  If not, you won’t stick with your limit and then you’ll be right back where you started. Be optimistic, but realistic with your goals.

Strategize

The limit is great, but it doesn’t actually solve the problem.  Now it’s your job to brainstorm how you’re going to stick with your limit.  Let’s say your weakness is going out to eat from work.  Just thinking, “I’m not going to do that anymore,” won’t get you anywhere.  What do you need to set yourself up for success?  Do you need to pack your lunch the night before to save time in the morning rush?  Should you cook extra food at dinner so you have something really filling to take in to work?  The solution is up to you.  As you implement it, make sure it’s really working for you and be ready to make adjustments if it isn’t.

Know Yourself and Be Honest

A weakness in finances is a lot like a weakness in your diet.  To overcome either, you really have to know yourself.  Take desserts, for example.  Some people are able to have smaller portions less frequently and be perfectly happy.  Others are better off saying no entirely; if they have one cookie, it only makes them want three more.  The same holds true with finances.  If the ease of picking up a cup of coffee at the café is too tempting, you may be better off making a hard and fast rule that coffee is only to be made at home.

Once you get your money weakness under control, you may be surprised at how much you can save.  Just don’t be discouraged if you have a few setbacks, and never give up trying.  The point of saving money is to help you get the big things you really want: the house, car, wedding, vacation, etc.  Don’t let your financial kryptonite drain you of the power to achieve your goals.

This article is by Sabrina Matheson, a personal finance blogger sharing tips online about how to compare medical insurance, avoid credit card debt, and keep your finances running smoothly.

We’ve all read articles about ways to save money on a day to day basis and yes, there are some ways in which you can make small lifestyle changes to make huge savings on an annual basis. However most of these money savings tips are extremely BORING. If they were fun and interesting, we’d all be making the changes on a day to day basis and you’d never hear people complaining about their cash flow. So here are a few alternative ways to start saving money in 2012. Don’t worry, none of them involve you cutting out coffee or cycling to work!

1: Hot UK Deals

Hot UK deals is a LOT of fun and can get very addictive. If you haven’t come across it already. HOT UK deals is a platform where shoppers are invited to list their best bargain finds both on and offline. Users of the site are able to search for products locally and give ‘heat’ to products/services which they consider amazing deals. The hotter the listing, the better the deal. If you check this on a regular basis you can find some hot deals and be the first to buy a product before the rest of the general public catches on. There are some HUGE savings to be found across a variety of different products from beauty to electronics and everything in-between.

2: Vouchercloud

Vouchercloud has been around for some time now and there are several different variations effectively offering the same information. Vouchercloud is both a website and a downloadable phone app which provides information on the very best discount codes and vouchers available for both online shopping and high street purchases. If you haven’t already got the app, download it for FREE now and start making geo-targeted savings. It’s gained particular noto

riety for its restaurant vouchers, with many restaurant chains now offering their best deals via Vouchercloud and other voucher service apps.

3: Start Haggling

Haggling is a bit of a dying art form, which is a shame. Haggling is really not that difficult, and as we all know, there is nothing stopping us from haggling for anything. For some reasons there’s a bit of a negative stigma attached to haggling in the UK when there needn’t be. Haggling if anything shows a certain confidence and if you are a persuasive and light-hearted person you could make some great savings. It’s a skill that shouldn’t be frowned upon and I’d personally like to see more people haggling in 2012. You’ll find that a lot of business owners, particular in niche indu

stries are quite happy for people to haggle and it builds a certain relationship with a customer that can’t be replicated online.

4: Buy and Trade Entertainment Products

If you find you spend a lot of money on entertainment products such as CDs, DVDs and video games, 2012 might be the year where you stop hording all of those discs and start trading them back in for store credit or rewards. Most entertainment shops now offer some kind of membership or customer rewards scheme for those who regularly trade in products. You will then find you can get some of the latest releases at no cost at all. If you become smart you can start buying and trading between entertainment stores and actually make money.

5:Start Streaming Movies and Music

As an alternative to point number 4, you might want to stop buying physical copies of games and movies altogether. With services such as Spotify and Blinkbox you no longer have to go out and buy albums or films and can stream them once at a relatively low cost or subscription with relative ease. This is ideal for those who want to save time and want to save a couple of pounds by essentially renting rather than buying a product. Streaming is also becoming popular with sports fans as you may want to rent only your team’s games through their websites rather than pay for a more expensive TV package.

Scott is a writer who specialises in information regarding adverse credit cards in the uk and uk credit card applications.

As a mom of 2 young children, I realize the importance of moms taking some time for themselves, even if it’s just an hour. Let’s face it, most of us would be happy with that some weeks.

So, when a friend or family member is expecting, or has just recently had a baby, I make sure to give a gift for, or related to the baby, and another for just mom.

I have put together a list of ideas for those of you who would like to do this as well.

1. A Functional Stroller

I’m not talking about a standard stroller, but one that will grow with you and your family. For example, the Joovy Caboose stand on tandem stroller is one that can carry a child in the front just like the traditional strollers. But, there’s more.

It also has a bench seat in the rear, for an older child to either sit or stand. The unique design of this type of stroller allows parents to get out more often with the kids.

Moms will appreciate any equipment that will make their day of errands much easier.

2. Baby Bike Carrier

Another idea for the active mom is a baby bike carrier. This will allow her the freedom to go biking, without having to pay for a babysitter, or wait from help from the family.

There are different models to choose from, but attach to the back of the bike. Most are like a tent, providing protection to the child, and offering a great time for a fussy toddler to nap. I know I have placed my kids in the car for a ride at times when they were being fussy.

Begin saving and investing for college the minute your doctor confirms you are pregnant with your first child.

Although the advice may sound like a very unfunny joke, financial planners and college admissions directors agree that college preparation begins in the womb. If you have a child today and college costs continue increasing at their current rate, by the time your newborn starts her first year at Harvard, that first year will cost her more than $100,000. You cannot afford to wait, and you cannot afford to count on scholarships and financial aid. If you begin managing the cost of college today, you and your child will have enough to finance the full four years. Experts strongly recommend you set-aside 5% of each paycheck in a preferred college savings plan, and they suggest five proven investment products…

• Coverdell Education Savings Account You may invest up to $2000 per year in a Coverdell Educational Savings Account (ESA), and the principal will grow tax-deferred at the prevailing interest rate until the money is disbursed. Contributions are not tax deductible, but the accounts do have tax advantages. If the money pays the beneficiary’s regular college expenses, neither the student nor the account holder pays any income tax on the distribution. Of course, some restrictions apply.

• Conventional Savings Account When you reach the Coverdell limit, put 5% of each paycheck into a conventional savings account until you accumulate enough to move into certificates of deposit. Most banks set a $5000 minimum.

• Certificates of Deposit Requiring you leave your investment untouched for six months at a time, Certificates of Deposit typically yield approximately twice the standard savings rate. While your CD grows, continue your practice of saving 5% of each paycheck in the regular savings account. When the two accounts total $10,000, take that lump sum and invest in an annuity. Then, continue the 5% savings plan until you save another $10,000 for investment in a mutual fund.

• Fifteen-Year Indexed Annuity Technically an insurance product, an “indexed” annuity guarantees a minimum rate of return and then assures extra interest at a rate tied to growth in equities. The best indexed annuities are tied to the Standard and Poors 500, which has averaged approximately 8% annual growth over the last 100 years. When the annuity matures, it pays a monthly income which your student may use for his college living expenses.

• Moderate-risk Mutual Fund Not as safe as the other four investment instruments, a mutual fund nevertheless promises greatest growth over the long haul. Work with a trustworthy financial adviser to determine which fund best will take you to your goals.

Which investment product is right for you? The answer is “all of the above,” because the five different investments work together. Each time you build to $5000 in the conventional savings account, you move the sum to a CD; and each time the CD grows to $10,000, you move it to the mutual fund. The annuity keeps growing on its own. Remember two fundamentals of skilled money management: (1) These are buy-and-hold products; just forget the money is there, and let the accounts keep growing. (2) Check with your tax adviser to determine which investments allow pre-tax payroll savings, so that you gain some tax advantages every year you invest.

Get ahead of the game.

You can begin college before you graduate from high school, saving money by reducing your time to completion of your degree. One option: Follow the traditional fast-track to college credit by taking honors and Advanced Placement courses; some first-year students begin college with enough credits to become instant sophomores. A second option: Many community colleges also allow college-bound 18-year-old high school seniors to take introductory courses on their campuses. In some forward-thinking high school districts, seniors may take their economics and government classes at community college, so that they simultaneously satisfy high school graduation and college general education requirements. In most high school and community college districts, everything is negotiable, so it cannot hurt to ask. While you explore your fast-track options, find out if your college-of-choice has a summer “readiness” or “transition” program for freshmen; the finest schools allow entering freshmen to live on campus and take basic English and math courses before they officially enroll.

In 2010, the average college graduate left the ivy-covered halls with a diploma and more than $100,000 in student loan obligations, and most alumni agreed the result was worth the financial burden. They confessed, however, they could have and should have saved for college instead of accepting the loans. When a family begins saving and investing early, the cost of college does not deter promising students from attending the schools of their choice.

Photo credit: Graduating Friends by blakeamick/flickr
Peter Savage is a career consultant and content contributor for Super Scholar, a site with incredibly thorough information, reviews, and even 2012 online college rankings.

For most people insurance is a necessity. Whether for the car, the home, your health or even your life, insurance is a monthly expense that is non-negotiable in most cases. The average person might see hundreds of ad each week on the television, and hear just as many on the radio. Each insurance company wants to have as many customers as possible, and often tries to do that by offering discounts on bundling policies. Essentially, this means that the customer will receive a reduced rate if they get their home, care, life, health and even car insurance all from one business. While this is a great idea in theory, it is important to make sure that a multiple insurance policy discount is actually saving you money.

Get Quotes

The only way to tell if you can save money with a multiple insurance policy discount is by asking for quotes from a wide range of insurance companies. Be sure to ask what the individual rates are for car, home and health insurance, and then ask for the overall price if you bundle the insurance together. Get a few quotes from a range of companies, so you have plenty to compare later on.

Compare The Rates for Each Company

Sit down and take a look at the rates provided by one individual company. Add up what your monthly costs would be if you paid for their car insurance policy, their home insurance policy and their health insurance policy separately. Then, compare that to the price given for bundling those policies together. Make sure that there is a significant difference between the prices to ensure that you are really saving money. Some companies will offer a percentage reduction for each policy you add, which is a great way to know that you are truly saving money.

Paying for Convenience

Sometimes, it will be more expensive to have all your policies bundled with one insurance company. Many people don’t mind the slight increase in price thanks to the convenience of having all policies with one company, or even one bill at the end of the month. However, if price is your main concern then be sure to stick with the cheapest policies, no matter what. This might mean that you get each insurance policy from a separate company.

Family Discounts

Some married couples or extended family can actually save money by combining their insurance plans. If you have multiple cars on separate insurance policies, ask each company if they can offer you a discount by bringing your spouse into the plan. Many companies consider this to qualify for a multiple insurance policy discount, which can further save you money.

While many advertising ploys are used to encourage consumers to bundle their insurance policies for their cars, home and health, it is not always the best way to save money. Ask for plenty of quotes and compare the deals to make sure that the multiple insurance policy discount will in fact save you money in the long run.

Gina Hamilton is an insurance consultant and content contributor for Kanetix. Check their site at www.kanetix.ca/auto-insurance-quotes for rate comparisons of all the most popular companies, such as York car insurance.

It’s that time of year again when we wait to hear the pitter patter of reindeer hooves on the roof and anxiously anticipate Santa Claus to slide down the chimney. Unfortunately, getting everything on Santa’s wish list can often prove to be expensive – and with today’s harsh economy, Santa’s gifts may be magical, but his limited budget is very real.

How to Put Smiles on Faces – Without Going Into Debt

Christmas is known for being a happy time of year. However, for many people, it can be the most stressful time, too. In addition to the extra added hustle and bustle, the end of the year can be particularly harsh financially.

The good news is that you can still put a smile of the faces of those on your gift list, without the need to hide when your credit card bill arrives in January. By offering gifts in terms of your talent and time, you not only give a gift from the heart, but potentially one that can last all year long.

Give the Gift of Your Talent

Before deciding on the perfect gift, take some time to really sit down and think about what your loved ones need and how you can offer your talents. If, for instance, you are good at wood working, even small gifts like a homemade foot stool or other small item could be the perfect match.

Certainly if you are a good cook, it goes without saying that a good batch of cookies or brownies can go a long way. If you aren’t the next Julia Childs, though, but are more familiar with things like computers and the world of website building, you could offer your talent in creating a webpage or setting up a Facebook or Twitter account for a loved one who may not be so well versed online.

Give the Gift of Your Time

On top of using your talent, you could also give the gift of your time. For example, do you have elderly friends and relatives on your Christmas gift list? If so, offer to cook them dinner once a month over the next year, or to mow their lawn each week throughout the summer. These gifts, although not wrapped in pretty paper and bows, can prove to be much more meaningful and useful to those who could use them.

Are you good at doing handy work? If so, make “coupons” for your gift recipients that will allow them “one free gutter cleaning” or “painting the living room.” Do you have a loved one who has been “meaning to” clean out the garage for the past several years? They may be a good candidate for your garage cleaning services in the spring.

Gifts That Are Remembered All Year Long

When the gifts you give truly help those who need them, it shows that you put thought into your holiday gift giving. This can be beneficial to those who receive gifts from you, as well as being helpful to your financial budget.

By giving the gifts of your time and talent, your loved ones will really appreciate the thought you put into their items – and this can go way beyond the gratitude from simply opening another scarf or fruitcake – because they are not just receiving a gift from you, but rather a gift from the heart.

George Gallagher is a financial writer for things related to family and education. He also helps graduates find solutions for their student loan consolidation woes.