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Money Saving Tips

How You Can Save Money In College And Maintain A Social Life

One of the best lessons that college will teach you is how to stretch a dollar (and by that, we mean a really long way). Whether you’re fortunate enough to attend school on scholarship, you are on financial aid and/or you need to hold down a job in order to make ends meet, we have some smart ways for you to save money while you’re enrolled so that you can enjoy all that college has to offer; including having a great social life!

Stay away from credit cards. Credit card companies love college students; so much, in fact, that you’ll probably see some of their representatives hanging out in your student union at least once a month. The main thing to remember about credit cards is that they are loans that you must pay back with interest. For that reason, you’re best sticking to cash and saving up for things that you really want.

January 5, 2013

Money Saving Tips

Saving Up For Your First Home

There will come a time when you wish to say goodbye to rental properties and purchase a home of your own. Indeed, often a mortgage works out cheaper than renting anyway.

The Largest Purchase You Will Ever Make

Saving money for a house is unlike saving for most other things. The amount will usually be larger than for any other goal you have ever tackled, and so the time frame will be much longer. The amount required is notoriously difficult to calculate and the sum of money you need will be much less intimidating if you think of it as a monthly amount rather than a lump sum. The larger the deposit you save, the more flexible the mortgage and the more competitive the interest rates. It is wise to create a graphical tool to motivate your saving, for example, a money thermometer. In the run-up to your purchase, you could free up money by avoiding or at least reducing the cost of renting by moving in with your parents or in-laws or sharing a house with friends.

November 15, 2012

Money Saving Tips

Should I Buy Winter Tires This Year?

My husband and I are considering whether or not to buy winter tires this year for our car. In the past, we purchased good quality winter tires and rims and hoped that they would last us for several winters. Unfortunately, I got into a car accident and our insurance company decided to write the car off. So, needless to say, our nearly brand new winter tires were now useless to us. Of course, we could have looked for another car that was the same make and model and still be able to use the old tires. We opted not to do that, and instead we sold the tires and rims, getting at least a small amount of the money back that we paid for them.

Now that we have a different car, we are seriously debating on whether or not we should buy winter tires again. We know that the winter tires we want would cost us approximately $1000.00. If we buy them, we know it will likely be safer to drive in the winter. At the same time, the car we bought has relatively new all-season tires on it right now and the tread is still quite good. There’s really no way to predict how bad the roads will get this winter. Some years the roads are always terrible, and some years they are almost always great, so it’s really impossible to know for sure what winter will bring.

November 9, 2012

Money Saving Tips

5 Ways Students Can Save Big Money

Students usually have to live on a tight budget as most of their time is spent studying rather than working and earning an income. As a result, it is important that students take advantage of the savings that is available to them. Below are just a few ways that students can save.

1. Save big on your banking. Most financial institutions provide free banking to university and college students. All you need to do is provide proof of enrollment and you shouldn’t have to pay monthly fees or transaction fees on your bank account. This perk can result in significant savings for you, especially if you do a lot of banking transactions each month. Remember to provide proof of enrolment every year to your bank; otherwise you will end up with fees after the year has passed. Most financial institutions won’t remind you, so be sure to mark your calendars to avoid fees.

November 7, 2012

Money Saving Tips

Five Money Saving Tips For Seniors

If you are a senior citizen, make the most of the savings that is available to you through a wide variety of discounts and perks. Below are just a few of the many ways you can save as a senior.

1. Save money on groceries. Many grocery stores offer discounts to seniors at a specific time each month. Pay attention to your local grocery store’s advertisements, or simply ask a cashier the next time you shop to find out what seniors discounts they can offer you. Mark your calendar and plan to do your biggest shopping on the day or time of the best discounts.

November 2, 2012

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