My Personal Finance Journey

Category Archives for Saving Money & Frugal Living

Is it Possible to Challenge a Fine from a Traffic Camera?

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Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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Click here to enter my free $50.53 giveaway for a chance to win 5% of My Personal Finance Journey blog income and give another 5% to a charity of your choosing! Deadline to enter is April 30th, 2013.

 The following is a guest post. Enjoy! 

 
If you pay even the slightest bit of attention to the news (or what information seems to pass as newsworthy these days), then you will surely have noticed the rather alarmingly prevalent trend which involves a high profile celebrity getting caught doing 90 down a quiet country road, yet receiving barely a lick of punishment, aside from the shame of being caught in the act.
 
And if you are at all like us, you’ll feel pretty outraged about it too! They have absolute mountains of cash going spare, yet they don’t receive the same old speeding fines and driver’s license points that we do – why is that? 

Mixed in with that outrage is probably a bit of jealousy as well: how come we can’t get out of a speeding ticket? Is this amazing feat even possible for the average Joe?
 
The long and the short of it is simple – speeding cameras aren’t infallible. If you wake up one morning and notice the presence of a speeding ticket in your mailbox, don’t let it ruin your day! It might just be worth your time to try and challenge the decision. 
 
Here’s some options you have if you want to challenge the ticket:


Prevention Is the Best Cure

Okay, so this might be too late for you this time, but it’s worth bearing in mind for next time – you probably won’t receive a speeding fine if you’re not caught speeding! The best thing is to never break the speed limit at all, but we understand: sometimes you’re running late for an important meeting or to pick the kids up from school, and speeding seems like the only option.
In this case, try getting a Sat-Nav device, like a TomTom. Many of these will have in-built speed camera detection software, letting you know when one’s coming up. Some of them can even detect radar guns! Just be careful because these are in fact illegal in some areas.


 

The Fortnight Favorite

This is the easiest way of getting out of your ticket, and the favorite method employed by celebrity lawyer “Mr Loophole” Nick Freeman. Look at the date you were caught speeding, then check today’s date – it has to be issued within 14 days of the incident, so if those two weeks are up before you receive it, you’re off scot-free.
 
Just write back to them and explain the situation; your ticket should be cancelled immediately.


 

Plausible Deniability

Another way of getting out of it is to claim that you’re unsure who was driving at the time. You need some decent reason why you’re not sure though, like moving house that day and having a number of family members driving the car back and forth on that stretch of road. You may have to go to court with this excuse, however, so get a speeding solicitor / lawyer on your side to try and avoid the fine.
 
 

A Faulty Camera

Do you think the speed camera was inaccurate? If so, this is worth a shot – request a calibration certificate of the one which caught you out. If the local authority cannot prove that it was properly maintained and was in good working order, your fine should be rescinded.

How about you all? Have you ever been issued/sent a speeding ticket or other traffic violation from one of these automatic traffic cameras?

If so, did you think about trying to appeal the decision?

 Share your experiences by commenting below!

Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

  • Personally, I have never been issued a speeding or other traffic violation/fine from one of these un-manned traffic cameras, although I have heard about people that have been caught by one. In those cases, I don’t believe they ever really thought to appeal the decision.

***Photo courtesy of http://www.flickr.com/photos/wwworks/4426610518/sizes/l/in/photostream/

How to Save Money on a Personal Injury Claim

The following is a guest post. Enjoy!

Would you believe that more than three million people suffer a personal injury every year? If this type of thing has happened to you, you truly aren’t the only one! In many cases, someone else is negligent, and you may have the right to claim compensation for your grievances.
Don’t try to tackle personal injury law alone. Specialist professionals (often termed solicitors) will make your claim a straight-forward process and increase your chances of success. Many law firms will offer a free consultation so you don’t end up in court without a fighting chance.
 

Choosing Your Solicitor

There are many options available to you when looking for a lawyer. The most cost-effective is a ‘no win, no fee’ solicitor who has plenty of experience in your type of personal injury. 
 

What Information Will Your Solicitor Need?

To present a case strongly, you will need to give your solicitor as much evidence and detail about the accident as possible. He or she will need to know when the incident occurred and what happened on the day. Often, it’s beneficial to note down the events in a journal, while the accident is fresh in your mind. If there were any witnesses, your solicitor will need their contact details.  
Hopefully, you visited a doctor about your personal injury, as your lawyer will require details about the physical and mental damage caused – include the medical diagnosis, as well as any treatment you were given. If you’re a member of a trade union, you may be able to secure free legal representation, saving you money.
Record any loss of earnings you’ve incurred after the accident and include any other injury-related costs. Present all your insurance documents to your solicitor along with any other documents that can be used as evidence in the case.
 

What Your Solicitor Can Do

Now, your lawyer can tell you how likely your case is to succeed in court. Although it’s tricky to estimate compensation figures, your solicitor can give you a rough idea of what to expect.
So you’re not kept in the dark, your lawyer will explain to you the legal process (if you choose to escalate your claim) and will discuss monetary matters. Ask your solicitor to draw up a summary of your meeting so you can leave with a clear document, detailing the points of discussion.
 

Making Your Claim

Your solicitor will now take over the reins. The defendant will receive a letter detailing why you have made a claim against them. You may be asked to undergo an independent medical examination. Accept this, as it only serves to strengthen your case.
If the defendant accepts liability, they may offer you compensation right off the bat, and the process will be over before you know it with very little cost to yourself. If they deny any responsibility for your injury, you may wish to settle the matter in court. Personal injury compensation claims can be expensive for both parties, so you may find that the defendant would prefer to settle the matter without a presiding judge.
It is to your advantage to consult your solicitor at every turn. Approaching your claim cautiously and wisely is the best way to save yourself money.

How about you all? Have you ever filed a personal injury claim against someone else (or had one filed against you)? 

 If so, how did the process go? Did you end up having to take the case to court? 

 Share your experiences by commenting below!

Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

  • Fortunately, I have never had to file any personal injury claims against anyone else (nor have I had one filed against me).
  • The closest I suppose I ever got was when I was in car accident at age 16. It wasn’t too bad of a wreck at all (just with minor damage to both cars), but the person that hit me claimed that it was all my fault. In the end, we had to take the case to court, and both of us were deemed 1/2 at fault. It sure was annoying to go through the process though!

***Photo courtesy of http://www.flickr.com/photos/armymedicine/6937977092/sizes/o/in/photostream/

Save Money On Your Next Car Purchase By Using Unconventional Methods

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Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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The following is a post by MPFJ staff writer, Toi Williams, who is a professional personal finance blogger of Fine Tuned Finances. She has backgrounds in personal finance, sales, and real estate.

When most people think about purchasing a car, they all think about the same process. They travel to the nearest car dealership, look around for a bit, and then buy the car that has the features that they want and fits into their predetermined price range.

Fortunately, that is not the only method available for purchasing a car. In fact, some of the more unconventional methods can save you a great deal of money if you go about it correctly. 

Here are some unconventional car buying techniques that you may want to consider.

Buying A Car Online

One of the newest trends in car buying is purchasing a car online. Many online venues are available that allow shoppers to purchase new or used cars from the comfort of their own home. There are many benefits to purchasing your next car from an online retailer, but there are some things you must be careful to avoid as well.
Purchasing a car online can be a much more pleasant experience than shopping for one using the traditional method of traveling to multiple dealerships. Online pricing is competitive because it is easy to compare prices across a wide selection of retailers in a relatively short period of time. You can even arrange for aftermarket products to be added or arrange financing for the car while online.
Different websites sell cars using slightly different techniques that appeal to a diverse array of consumers. Some websites allow you to submit the type of car you are looking for and have dealers in your local area send free quotes for the car to your email address. Other online companies act like a broker between the buyers and sellers and may even deliver the chosen car to your door when the transaction is complete. There are even online auction sites where you can bid on the car that you want.
The biggest drawback to purchasing a car online is that you don’t get to see how a car handles until you are nearly done with the process. If you want to see how a type of car feels before you start narrowing down your options, you will have to go to a dealership to test drive it. However, you can often get much better deals online than you would have from the salespeople at your local dealership.

Buying A Car At Auction

Making your purchase at a car auction can save you a great deal of money. The cars are often offered at great deals, especially if you are the only one really interested in that particular car. There are not many people that shop at car auctions because they find the process intimidating, but there are some tricks that will give you the edge over other bidders.
It is important for you to have your own copy of a car value guide when you attend a car auction. Get to the auction as early as possible so that you have a chance to view the vehicles that are available before the bidding begins. Look up the values of the cars that you are interested in so that you know how much to bid. Do not get caught up in a bidding frenzy because there is a good chance that you will end up overpaying for the car.
Many people do not know that auction houses add a premium to the final sale price of any vehicle sold at the auction. This amount pays the auction company for holding the action and hiring the auctioneer. The premium can be either a set amount or a percentage of the total car price. Be sure to inquire about the amount of the premium and keep it in mind when you are bidding on cars to ensure you can afford the final cost.
Attending a local car auction can be a great way to get a car for a good price. However, the selection at car auctions is limited to the vehicles that are currently on hand. Also, the cars are purchased as-is, meaning that you have little recourse if anything goes wrong with the car soon after purchase. If you get to the auction early enough, you can ask about the history of the cars you are interested in and some auction houses offer the option to run a vehicle background check to see if the car has been in an accident or suffered major damage in the past.

Using Crowdfunding To Purchase A Car

There are not many people that know about using crowdfunding to purchase a car. Most people’s knowledge is limited to a single 2013 Super Bowl commercial touting the method as the next great thing in car buying. The premise behind crowdfunding is simple. Obtain small amounts of money from various lenders, or individuals willing to give you money, until you have raised enough to purchase the car you desire. In this way, it is essentially Peer-2-Peer Lending as offered by companies like Prosper and LendingClub.  
Obtaining the money from lenders is often easier than finding enough friends and family members willing to pay money towards your new car. The interest rates offered on these loans are often less than you would have to pay to a traditional lender for the same loan amount. The loan terms are comparable, with most loans being repaid over 3 to 5 years depending on the amount of the loan.
Borrowers are prescreened by the crowdfunding company, which acts like a broker between the borrower and the lenders funding the loan. The company will verify your identity and check your credit score do determine how much of a risk you will be to their lenders. If you meet all of the qualifications, you will be allowed to list your loan request and will be notified when your loan has been fully funded. The only thing left after that is to go and buy your new car.
How about you all? Have you tried any of these car buying methods? How did they work out?

Share your experiences by commenting below!

    ***Photo courtesy of https://commons.wikimedia.org/wiki/File:06-08_Chevrolet_Impala_SS.jpg

    What’s Your Spending Personality?

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    Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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    The following post is by MPFJ staff writer, Kelly Gurnett. Kelly runs the blog Cordelia Calls It Quits, where she documents her attempts to rid her life of the things that don’t matter and focus more on the things that do. You can also follow her on Twitter and Facebook.

    It can be hard to do things like set a budget and create good spending habits when you don’t know your spending personality. 

    Your spending personality is a combination of your personal priorities and goals and your own personality quirks—and also possibly a remnant of some habits you unconsciously picked up from your parents growing up.

                
    Understanding your spending personality enables you to guard against its pitfalls and ensure that you’re making the best financial decisions for your overall goals, not just doing the same things you always do.

    Let’s take a look at some of the most common spending personalities, and then (once you’ve identified which one you are), we can discuss how to handle them.

    If you…

                
    …Often feel like you just “have to have” something the instant you see it, can easily justify the reasons why a random purchase makes total sense, and usually come home from a shopping trip with more than you intended to buy…then you’re probably An Impulse Buyer.

                
    …Can’t pass by a bargain in any form (limited-time-only sale, clearance, garage sale) and often find yourself bringing home things you don’t really need just because a deal was “too good to pass up”…then you’re probably A Bargain Addict.

               
     …Buy the same brands you’ve always bought, pay for convenience items like coffee on the go or lunches out, and find yourself at end of the month with no idea where all your money went…then you’re probably A Lazy Spender.

                
    …Wear your clothes until they’ve disintegrated, wash plastic sandwich baggies so you can use them again, and have great difficulty bringing yourself to purchase anything unless it’s a life or death situation…then you’re probably A Spendaphobe.

                
    …Shop for fun, when you’re down, when you’re celebrating something, when you’re bored, or any other excuse you can think of…then you’re probably A Shopaholic.

                
    Do any of these descriptions sound familiar?  Then read on to learn how to can curb your natural tendencies and become a smarter shopper.

    How to Re-Train Yourself

                
    If you’re an Impulse Buyer…It’s time to learn the 30-day rule. Namely, if you see something you love so much you must have it now, put it on layaway (or bookmark it if it’s online) and revisit it in 30 days. Chances are, you won’t even remember half the things you so desperately wanted 30 days earlier. And if you do (and you still desperately want it), then it’s time to consider how it will fit into your budget. That’s right: it’s still gotta pass the budget test. (But if you really do want it that badly, you’ll find a way to make it fit, even if it means sacrificing something else.)

                
    If you’re a Bargain Addict…It’s time to learn to resist Shiny On-Sale Object syndrome. Just because something is discounted (even severely discounted), that doesn’t mean you need to buy it. Instead, ask yourself whether you’ll really use whatever it is that’s on sale, and also ask yourself if the bargain you’re drooling over really is truly all that great. If you can start being more deliberate about your savings (clipping coupons and comparing them against weekly store circulars for the biggest bargain), you’ll winding up saving much more in the long run than you would with those impulse bargain purchases…and you won’t have a pantry full of condiments you’d never go through in several lifetimes.

                
    If you’re a Lazy Spender…It’s time to start doing some work—that’s the only way around this one. It doesn’t have to be life-consuming work; just setting up some systems and learning to think deliberately about your spending will make a big difference. Set some time aside to create a budget (I know it’s no fun, but you need one), then start picking up tricks like couponing in order to make sure your spending falls within that budget. Once you start tracking your purchases, you’ll see all sorts of ways you can cut out those lazy purchases (like buying lunch meat for sandwiches during the week so you’re not forced to run out for fast food every day).

                
    If you’re a Spendaphobe…It’s time to realize that frugality can go too far. While being cost-conscious and learning to live with less is an admirable goal, there are some things that are worth spending a little money on. The key is identifying what your priorities are. If you value time with your family and have a really hectic work life, maybe putting a little aside for a yearly vacation would be an expense worth spending for because it would create memories and give you a chance to unwind. If you’re very health-conscious, it might be worth shelling out a little extra for organic produce or yoga classes so you feel your best. Spending money in and of itself is not evil; spending it recklessly is.

                
    If you’re a Shopaholic…It’s time to find some other ways to fill your time and deal with your emotions. If you tend to shop when you’re down, call a friend to vent over coffee or go for a run to work out those feelings. If you shop when you’re bored, take up a hobby or join a class to amuse yourself in more constructive ways. The less free time you have to fill, the less likely you’ll be pulled toward the mall.


    Have I missed any of the major spending personalities? What would you say yours is?

     Share your experiences by commenting below!

      ***Photo courtesy of http://www.flickr.com/photos/andrewarchy/2527200986/

      Deciphering the Cash-Back "Code" of the Chase BP Visa Pump Rewards Card

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      Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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      I have been a pretty loyal Chase BP Visa Card holder for quite a while now (maybe since 2008 or so).

      Back in the “good ole days,” the cash-back rewards program for the Chase BP Visa Card was very simple; you got 5% cash back for all purchases at BP gas stations (both gas and inside the store) and 1% cash back for purchases everywhere else.

      About 1-2 years ago, they sullied this awesome, straight-forward, high-earning cash-back program by introducing “Cents-Per-Gallon Rebates.” Immediately, after looking at the new program’s structure, I figured it was some complicated way to save money by giving less cash back while maintaining enough complication to have most customers not bother switching to another card. I remember doing some quick calculations and thinking that I was earning about 2% cash back with the new rewards structure. However, I never really put pen to paper and calculated exactly what I was/am earning.

      However, I recently signed up for a Bank AmericaCard Cash Rewards in order to spend $500 on it to earn the $100 sign up bonus. In signing up for this no annual fee card, I was very nicely surprised to find out that it offers card-holders 1% cash back on all purchases, but 2% cash back in grocery stores and 3% cash back at gas stations. 

      So, now that I have this other card that boasts 3% cash back rewards, I figured I needed to seriously sit down to compare it to my BP Visa Card’s cash back program. After all, one serious pitfall of the Chase BP Visa is that I only get the enhanced benefits when I shop at one gas station, BP’s.

      Decoding the BP Visa Pump Rewards Cash-Back Program

      The way that Chase decided to word their cash back program for their BP Visa card is beyond confusing. Just take a look at the screenshot below from the Chase BP Visa site:


      There are two levels of complexity to understanding the cash back benefits:

      • You earn $0.15 of “Cents Per Gallon Rebates” (no – you don’t earn $0.15 immediately, just $0.15 in “Cents Per Gallon Rebates,” so sort of like imaginary Chase BP money) every time you spend $100 in purchases at BP gas stations. 
      • To redeem your “Cents Per Gallon Rebates,” it is also very complicated.
        • Option 1 – Redeem when you fill up at the pump –
          • In other words, you get a per gallon discount of however many Cents Per Gallon Rebates you have accumulated on up to 20 gallons of fuel, only good for one fuel-up.
        • Option 2 – Get a statement credit – 
          • You can elect to be credited on your credit card at a level of $15 for every $1 you have accumulated in “Cents per Gallon Rebates.”  

      When you read through the terms above, did you become confused?

      I can’t blame you if you did! I wonder how many BP Visa card-holders actually take the time to go through these benefits to actually determine WHAT THE HECK CASH BACK % THEY ARE GETTING FOR THEIR MONEY IN PLAIN ENGLISH!?

      Let’s take a look to see if we can determine a concise cash back % amount that Chase BP Visa holders are actually receiving these days when they redeem at the pump:

      • For the sake simplicity, let’s assume that we purchase $100 worth of gas. We’ll also assume a level gas price per gallon of $3.50.
      • By spending $100 in gas at BP, you accumulate $0.15 of Cents Per Gallon Rebates to your name.
      • Since you’ve accumulated these Rebates, you now decide that you want to redeem them. You wait until your Toyota Camry is almost out of gas, and you head to the store to fill up with a ~12 gallon gas purchase.
      • Since you’re utilizing your Rebates, the normal $3.50 per gallon rate gets reduced to $3.35 per gallon.
        • 12 gal @ $3.50 per gal = $42.00
        • 12 gal @ $3.35 per gal = $40.20
        • So, using the Cents Per Gallon Rebate allowed you to save 4.3% of this specific gas purchase.
      • At first glance, saving/getting 4.3% cash back sounds pretty good. However, what has not been accounted for in this calculation is the $100 in that you had to spend in order to get the $0.15 Cents Per Gallon Rebate in the first place.
        • $100 worth of gas purchased previously to get earn the Rebates + $42 spent to purchase gas without applying Rebate = $142 total spent.
        • $100 worth of gas purchased previously to get earn the Rebates + $40.20 spent to purchase gas WITH applying Rebate = $140.20 total spent.

      So, in reality, when all is said and done, the new Chase BP Visa Pump Rewards only equates to ~1.3% cash back of your total purchases (if written in plain English) when you redeem your Rebates at the pump. And, as gas prices continue to increase, this would only become less and less! Clearly, this is not the same good deal that was once available in the 5% cash back days.

      Let’s also briefly calculate the cash back % that we would get by redeeming our points through a credit card statement credit. In order to earn the required $1 in Cents Per Gallon Rebates required to qualify for a statement credit, you would need to spend $667 total at BP stations ($0.15 Cents Per Gallon Rebates earned per $100 spent x 6.67 to equal $1 in Cents Per Gallon Rebates x $100). If you’re like me and fill up about 2x per month, this would likely take you 7 months to build up enough Rebates to get a statement credit.

      To calculate the overall cash back you receive for redeeming your Rebates online, the math would be $15 cash back / $667 total spent = 2.24% cash back, so almost 2x what you get from redeeming at the pump directly (however, it would take a lot longer to qualify to receive money).

      Conclusions

      Aside from the language being almost intentionally confusing, I am not all that happy to find out that a card I once loved is paying out such a low amount of cash back benefits. If I am redeeming at the pump (as I have been doing for the past 1-2 years) and only getting 1.3% cash back, I might as well have been using my Chase Freedom Visa Card where I get a global 1% cash back with all purchases! Furthermore, if I had been using my Chase Freedom Card, I could have gone to any gas station I fancied, instead of seeking out a BP.

      Because of the facts we saw above with the real life cash back %’s of the Chase BP Visa Card being 1.3-2.2%, I think my path forward is quite clear. I will start using my Chase Freedom Visa Card for gas when the rotating categories for 5% cash back lands on gasoline purchases, and switch my main gas credit card to being the BankAmericaCard Cash Rewards Visa mentioned above, which offers 3% cash back for gas purchases at all times from any gas station brand (and features a low $25 minimum cash back redemption level + 10% bonus when I redeem directly in to my Bank of America checking account).

      How about you all? Have you ever used the Chase BP Visa Card, or any other credit cards where the cash back benefits were worded in a very confusing way?

      Share your experiences by commenting below!

      The Carnival of Financial Camaraderie – March 30th, 2013 Edition!

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      Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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      Happy Saturday. :-) Guess who’s hosting the Carnival of Financial Camaraderie this week? Yep, it’s me! 

       If you’re new to the Carnival, its goal is to share some of the best articles around the web each week focusing on helping people improve their financial situations. Have fun reading all these great posts! 


       First, let’s take a look at my top 4 editor’s picks that were submitted this past week:

      Top 4 Editor’s Picks

      1. BARBARA FRIEDBERG @ Barbara Friedberg Personal Finance writes WHAT TO DO NOW THAT THE MARKETS ARE PEAKING – Markets are at record levels. Stock and bond investing tips for the current market.

      2. Daniel @ Sweating the Big Stuff writes High School Students Can’t Make Financial Decisions About College – High schools are not equipped to make financial decisions about college. Parents need to take active roles during this crucial decision making process.

      3. Darwin @ Darwin’s Money writes Here’s Everything I’ve Done with my Money by NOT Having an Emergency Fund – The conventional wisdom is we all need to build an emergency fund of 6 months or more, right? WRONG. See all the great moves I’ve made with the money I DIDN’T have sitting in a bank.

      4. Roger Wohlner @ The Chicago Financial Planner writes Am I on Track for Retirement? – Are you on track to a comfortable retirement? It is essential that Baby Boomers and others approaching retirement address this issue.

      And, listed below are the best of the rest! Enjoy!

      BUDGETING

      Steven @ Canadian Personal Finance writes Five sure-fire signs that you need a new job – Here are five sure-fire signs that you’re in the wrong job – and that it’s a high-time you started looking for a new one.

      Michelle @ Making Sense of Cents writes Case of Lifestyle Inflation – But I’m Not Upset – Whenever we make a financial decision, I’m not going to lie, I tend to think about how readers will perceive the decision and whether I will get yelled at. That’s not always bad though, because it just makes me triple think everything and make sure I’m happy with whatever decision that I do make!

      Div Guy @ The Dividend Guy Blog writes All You Need To Know About Selling Your Stocks –

      Martin @ Studenomics writes Do You Seriously Need to Be Convinced to Move Out? – Let’s finally move out!

      Simon @ Camp Travel Adventure writes Learn How to Finance ALL your Travel Plans – We would all love to go travelling and not worry about money, here’s a few tips to help you get there

      Marvin @ Brick By Brick Investing writes How Poker Made Me A Better Investor – A detailed comparison between the principles of poker and investing, particularly how they made me a better investor.

      BUSINESS


       Robert @ The College Investor writes How to Understand the Stock Market – If you are willing to learn, and make the most of the information out there, you too can understand the stock market.

      Robert @ My Multiple Incomes writes How Much is Too Much? Entrepreneurship, Life, Finding Balance – I got a taste of building multiple income streams, and let me tell you, it tasted good. So good… And I knew I wanted more. MORE! I knew that this was a way to be free. So I started building, and I started developing my income streams.

      Robert @ Entrepreneurship Life writes Does Your Business Have a Mobile Strategy? – With the emergence of smart phones and mobile commerce, it is important that your business takes steps to have a mobile friendly website.

      Jason @ Live Real Now writes Make Extra Money, Part 6.5: Why I Do It The Way I Do It – Several people have asked me to explain why I use the plugins and settings I use. In this installment of the Make Extra Money series, I’m going to explain every choice I recommended last time.

      Jester @ The Ultimate Juggle writes Life Decisions That Can Affect Your Finances – As a young family, my wife and I have learned that life can be quite busy. Trying to accomplish everything (school, work, side business, social life) at once can be overwhelming. This is why many people focus on their 9-to-5 jobs and go home to watch T.V. The stress is just too much to handle.

      Mike @ Personal Finance Journey writes Striking it rich by being lucky or doing it hard? – Can wealth be created through luck? Hard work? Can you strike it rich?

      CAREER & EDUCATION


       JC @ Passive Income Pursuit writes A Long Term Plan to Continue Giving Back – Ever thought of a great way to give back and contribute in some way to the betterment of society? I cover my plan to use dividend growth investing to fund a scholarship in perpetuity.

      Peter @ Bible Money Matters writes 4 Board Games that Can Help Teach Lessons about Personal Finance – A while ago I wrote on this site how having a family game night can be a great way to have some fun with the whole family, without spending a ton of money. But playing games doesn’t have to just be a way to have a little fun, if you play the right games it can be educational as well.

      Nick @ A Young Pro writes Career Advice: Be An Entrepreneur – Take charge of your career. Learn how to think like an entrepreneur and apply that knowledge towards your career success.

      KK @ Student Debt Survivor writes Want to Borrow $120k at Age 18? Sign on the Dotted Line – When was the last time you gave an 18 year old $120,000? If you had $120k saved would you give it to your 18 year old son or daughter and tell them to have a good time spending it? I sure wouldn’t. But strangely, that’s exactly what student loan companies offering when our kids when they enroll in college.

      FINANCIAL ADVICE


       Grayson @ Debt Roundup writes Who Do American’s Look To As A Financial Mentor? – As the US economy and the economies of the world sputter along, who can we look to as a financial mentor? Spending and consumption is out of control and we need help.

      Arnel Ariate @ Money Soldiers writes Dealing with Debt After Losing Your Job – Learn how to be debt free. I made my final loan payment in February of 2013. It was two years, to the month, after I had lost my job. Now when I buy something, I appreciate it even more because it is a well-earned treat and not a wasteful indulgence.

      Lance @ Money Life and More writes Best Credit Card Sign Up Bonuses – March 2013 – Sign up bonuses are one of the most lucrative ways to rack up credit card rewards quickly. There are currently some great credit card sign up bonus offers and I have used a couple of them myself. Basically you have to sign up for a credit card with a bonus and meet the various requirements within a time limit to get the bonus. There are no affiliate links in this post so you know these are some of the best deals out there.

      MMD @ My Money Design writes Who is the Best IRA Provider When You Don’t Have Much Money to Open an Account? – Where can you find the best IRA provider without having to open an account with thousands of dollars? There are lots of good options to choose from ranging from safe to risky. This post will tell you where.

      Glen @ Monster Piggy Bank @ Monster Piggy Bank writes How to Consolidate Debt – Learn about debt consolidation and how it could improve your finances

      Jon @ Novel Investor writes How To File A Federal Tax Extension – If you won’t finish your tax return by the deadline, find out how to file for a federal tax extension online and get an extra six months.

      FRUGALITY


       Mr.CBB @ Canadian Budget Binder writes Let Your Coupons Expire and Save Money – In order to save money we need to stick to a plan and not spend more than we intended to do. Take the money you save from using coupons and put it towards debt, investments or something you want to save up for. There’s no shame in letting a coupon expire in order to stick to your grocery budget.

      Pete @ Intelligent Speculator writes What Part of Your Income Are You Saving? – Are your savings where you want them to be?

      Jacob L @ Cash Cow Couple writes 22 Things I Won’t Pay For – I think my ability to save money is a valuable asset. I also think that my friends and family would benefit from a little shot of Cash Cow frugality. So I’ve put together this list of things that I DO NOT spend money on.

      Penny Thots @ Penny Thots writes How Meal Planning Is Saving Me 40 Percent on Groceries – We are now eating healthier than we have been in a couple years thanks to meal planning, and we have something that works with our schedules. But what surprised me was the savings.

      Miss T. @ Prairie Eco Thrifter writes Go Ahead and Be a Cheap Date – Perhaps the general high-maintenance of dating is the very reason it falls off the side of our lives. What if dating your spouse was simple, straightforward and, well, flat-out cheap? Yeah, I know what you’re thinking, if it was like that, it’d probably happen more often, and that is precisely what I am hinting at. Think outside of the overused dinner-and-a-movie routine. I am guessing that in doing so, you’ll start to remember what it felt like to date.

      Little House @ Little House in the Valley writes Micro-Unit Apartments in New York City – Manhattan’s mayor, Michael Bloomberg, is jumping in on the Little House action to create a building dedicated to 55 micro-unit apartments. Though the project is still in the design phase, the rent is expected to be affordable when compared to average rent in New York with some units using “restricted rent” (or percent of income) to determine the monthly rental price.

      Lazy Man @ Lazy Man and Money writes The Money Start-Up: Development Decisions Lead to Big Savings (Part 2) – he key takeaway here is that is where it would once cost a lot of money to start-up a software company, today there are some fabulous tools out there that greatly reduce the financial barrier the entry. I don’t know if it is possible for me to overstate the impact they will likely have.

      DPF @ Digital Personal Finance writes Free is Good – So Use Your Library! – As value seekers, many of us like to search for bargains or simply obtain things we need at a low price. Along those lines, the local library just might offer you great value for your time, considering it’s free! This post discusses why.

      Paul Vachon @ The Frugal Toad writes 5 Frugal Ways to Celebrate – Looking forward to celebrating that birthday or special event with friends and family? Are you worried that your budget will make it difficult to plan a memorable celebration? By thinking out of the box and using items you already have, you can create lasting memories without breaking the bank.

      harry campbell @ Your PF Pro writes Save Time and Money When Traveling Through Airports – Maybe I haven’t traveled in a while but when did airports become such a rip-off? Just this month, I’ve traveled over 7,000 miles on 3 round trips with another trip to Philadelphia scheduled for next week and everywhere I go I can’t believe how expensive things are.

      INVESTING

      Jason Hull @ Hull Financial Planning writes Stock Picking is No Better Than Sports Betting – This article examines how you could be fooled into thinking that you could pick horses or pick stocks and the psychological triggers behind this phenomenon

      Michael @ Financial Ramblings writes Automatic Dividend Reinvestments – Do you reinvest your dividends? We don’t, at least not in our taxable account. And for good reason. Manually reinvesting dividends lets us really crank up the tax efficiency and simplify our record-keeping.

      Crystal @ Married (with Debt) writes Fact or Fiction: Everything’s Old That’s New Again – There’s an old saying that everything’s old that’s new again. Does this hold true for your possessions?

      Evan @ My Journey to Millions writes Another Reason I Hate My 401(k) – I have always had a pretty angry relationship with my 401(k). On the one hand, I get a match of 100% up to 6% of my salary provided by the generous boss-men (anyone know why this is very common?), on the other hand my fund choices are terribly expensive.

      A Blinkin @ Funancials writes 2 Irrelevant Reasons To Buy And Sell Stocks – There are thousands of reasons why people should invest in stocks and thousands of reasons why people shouldn’t invest in stocks. But, 2 “reasons” that I have heard recently are actually irrelevant and should not determine whether or not you invest in stocks. If you want to buy, buy. If you want to sell, sell.

      Jon the Saver @ Free Money Wisdom writes Three Reasons to Consider Investing in Silver – Here are three fantastic reasons to invest in silver if you are still waiting to make up your mind. Find what why everyone else is putting their money in this metal!

      LaTisha @ Young Finances writes How To Qualify for a Mortgage as a Young Adult – Getting your credit in order, making an appointment with a lender, finding a home, and gathering your documents are all steps to buying your first home as a young adult.

      Kevin @ Passiveincometoretire writes Why Real Estate is the Best Passive Earner – Real estate is one of those things that will continue to rise in prices as long as our population keeps on increasing. More people mean more requirements for space to live, which will naturally increase the prices of real estate for the foreseeable future.

      Pauline @ Reach Financial Independence writes Why an early start makes all the difference – I started working early, saved hard and had time on my side. An early start can help you achieve a lot more than ignoring your finances for years.

      Jon Haver @ Pay My Student Loans writes Investing made easy for Graduates – Investing money can be difficult for those who aren’t experienced with the process and don’t know who to turn to to get help. With the added stress of mortgages and taking out loans to pay for college, most people give in and go with the first investment company they come across without shopping around and seeing what other companies are offering. Most people run into problems because they don’t invest enough, diversify their investments, or allocate investments properly for a specific sit

      John S @ Frugal Rules writes Is it Time to Get Out of the Stock Market? – There has been a lot of talk lately about the stock market with its “historic” highs and what investors should do. This is a great time to remember to stick to your investment plan and not give in to fear.

      SAVING

      Deacon @ Well Kept Wallet writes 3 Unique Ways to Save Money – Do you like saving money? Who doesn’t, right? There is no reason to pay more for something if you don’t have to. There are so many ways that you can save money whether it is coupons, discounts, promo codes, you name it. Here are three unique ways that I have found to save money.

      Green Panda @ Green Panda Treehouse writes The Retire Early Movement Has Hit UFC – Early retirement has now hit the UFC world.

      Thomas @ Journey Scout writes Don’t Spend the Earth on Hotels – We’re all feeling the pinch at the moment, but its vital you go on holiday just to keep your sanity. Well the least you can do is save on the hotel cost, its a start, and here’s how.

      OTHER


       FMF @ Free Money Finance writes Confusion with Precious Metal Pricing – I noticed there are a TON of commercials for gold and silver investing. After a while I started keeping track of the advertisements, wondering what the difference would be from one company to the next. Service? Shipping? Something else? I thought that pricing would be the same. Boy, was I mistaken. I decided to do an experiment.

      Corey @ 20s Finances writes What’s the Average Easter Budget? – Millions of Americans will be celebrating Easter with their wallets doing a great deal of heavy lifting, but what’s the average Easter budget?

      Ashley @ Money Talks Coaching writes I Wish Saving Money Was A Social Event – I bought something on Amazon the other day and when I was done checking out Amazon asked me if I would like to post on Facebook about my recent purchase.

      SBB @ Simple Budget Blog writes What Type of Budgeter Are You? – Are you a improviser, a preparer, or a lingerer when it comes to budgets? Here are the pros and cons of each type of budgeter. Find out how you budget.

      Tony @ We Only Do This Once writes 7 Ways to Avoid Using Credit – Credit cards have not been around for very long. Our close relatives managed to do just fine without them. We can do the same by living within our means, spending less than we earn, and not using credit.

      Hank @ Money Q&A writes Trick Yourself Into Saving Money With These Seven Sneaky Ways – Saving money isn’t easy. Sometimes you have to trick yourself into saving money if you want to get it done. You have to take your brain out of the equation.

      CT @ Cashtastrophe writes Why Infomercials Are the Best Things on TV – How to Avoid a Cashtastrophe – Save more, spend less, and live a good life

      Michelle @ The Shop My Closet Project writes Planning a YOLO Summer for a fraction of the price – YOLO Summer means (You only live once)! Read how I’m going to make this happen for me this summer.

      Steven @ MyDividendStocks writes Income from Perpetual Dividend Raisers – When you buy a stock in a company, you become a partial owner of its assets and profits. There are certain caveats to being a partial owner through a stock, but in general a stockholder is entitled to a share in the profits of a company. Dividends are one way in which a company management or board of directors can share the profits with the stockholders of a company.

      krantcents @ KrantCents writes I am Wealthy, so What? – I was reading The Millionaire Next Door again and found out that I am wealthy! The authors offer a calculation to determine if you are wealthy, just multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten.

      Amanda L Grossman @ Frugal Confessions writes 5 Frugal Activities for Springtime – Both the warmth and my sinuses have alerted me to the fact that spring has returned.

      Kevin @ 20smoney.com writes College University Scholarship Search Engine – Free Money for Education. Use our Scholarship Search Engine to find a scholarship! The Top 5 Places to Find Great Scholarships We learned how to find

      Crystal @ Budgeting in the Fun Stuff writes Free Stuff for Your Birthday – Woot! – I take the time to sign up for birthday freebies so that I can spend my birthday month being lavished with lovely perks and gifts from my favorite retailers

      Kyle @ The Penny Hoarder writes The Secret to Making Money on YouTube – I have a confession to make: Somewhere between me typing the title of this post and actually typing the post itself, I became engrossed in a few funny animal videos on YouTube….and effectively lost those 5-10 minutes of my life. But boy, did I laugh–and I’m not the only one.

      MR @ Money Reasons writes Retirement Rich But Life Poor? – Is it smarter to saving and invest in a regular brokerage account or save for retirement in vehicles that are not to be touched until many years later? Is it better to live now or live when you are old?

      Maria @ The Money Principle writes Buying a car on a low budget – Buying a car doesn’t have to ‘break the bank’; you just need a bit of ingenuity, research and asking sound questions.

      Don @ MoneySmartGuides writes Thinking About Changing Careers – Are you thinking about changing careers? The read my experience and history on this plan of attack.

      Roger the Amateur Financier @ The Amateur Financier writes Book Review – Fired to Hired – Chances are, you’ve been unemployed (or underemployed) at some point in your life.

      Suba @ Broke Professionals writes Does Good Customer Service Still Exist? – Good customer service isn’t a thing of the past: I’ve found three American companies that are doing an amazing job of helping their customers.

      Ted Jenkin @ Your Smart Money Moves writes The Biggest Stock Option Mistake You Can Make – I worked for a Fortune 100 company for over 15 years.

      Lauren @ L Bee and the Money Tree writes What it Means to Finish Something – It’s so inspiring when people accomplish their goals: losing weight, hitting a zero balance, or getting a promotion. Yet, what does it really mean when we finish something?

      CAPI @ Creating a Passive Income writes Popular Ways of Earning Passive Income – So you’ve decided to set up a passive income! Now you need some ways to earn. Read on for five popular and effective ways and how they could work for you.

      Wayne @ Young Family Finance writes Important Tips for Buying a Home – Looking into buying a new home for you or your family? There are important things you need to consider. Read on for the best tips.

      Well, that wraps up this week’s edition. I hope you enjoyed the articles as much as I did! 

       This carnival is hosted every second week by My University Money and you can submit articles at Blogger Carnivals or Blog Carnival HQ.

      How To Save Money on Food

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      Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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      The following article is by MPFJ staff writer, Miss T from Prairie Eco-Thrifter. If you want to learn how to live your dream life in a sustainable, healthy, and money savvy way, check out her site here.

      I don’t know about you, but I find that food is one of the biggest items in my budget. Whether it’s the weekly grocery shopping, eating out, snacks for the kids on weekends or going to Farmer’s Markets, I always seem to be shelling out money for food! And, it seems to get more expensive every month. There has to be a way to save money in the pantry, I thought, so I did some research.

      Financial experts are keen to tell us that eating out is expensive, and one great way to save money is to reduce or limit these occasions. We all know that take-out food is expensive, considering what you are getting, and so avoiding this type of food is also a way of saving. We are pretty health-conscious in our household, so there’s never been a lot of take-out or pre-prepared food consumed, but we do like to enjoy the occasional meal out as a family. We seek out reasonably-priced establishments that offer good quality food and we enjoy our dinner nights about twice a month. Apart from this, all our meals are prepared and cooked at home.


      Cook at Home

      So, most of these pantry money-saving tips are concerned with eating at home. I’ve found this to be the most cost-effective way of eating and certainly the best method for ensuring we eat healthy, nutritionally-balanced meals and snacks. So the first tip is this – cook at home most of the time and enjoy the money you’ll save as well as the pleasure of creating dishes in your own kitchen.

      Of course, if you’re going to cook at home, you’re going to need to shop for basic ingredients. I found that buying the products to make a dish from scratch is so much cheaper than buying similar ready-made meals from the supermarket. Importantly, I like to know what my family is eating and making meals at home means I have control over what ingredients are used.


      Buy Generic When Possible

      I have learned that well-known brand name goods are not always better than generic brand goods. This especially applies to canned vegetables and fruits, pasta, flour and sugar. If they taste the same and look the same, why pay more for the brand-name? This is one of the most important ways I save money in the pantry. Do some comparisons for yourself and save.


      Plan a Weekly Menu and Use it to Create/Stick to List While at the Supermarket

      The best way to avoid over-spending on things you don’t need is to plan a weekly menu. We do this as a family so that everyone gets a say in what we eat and we plan at least one new dish each week. This means we don’t get bored with our food and we are experimenting with new tastes. Once you have the menu, you can write up a shopping list for the things you’ll need.

      Going to the market with a list is a vital step in saving money. Buy what you need and stick to the list. This means that your list needs to include everything you will need and nothing you won’t. So, allow the time to make your list at home where you can check what supplies you have already in the pantry. I have a list of staples that are needed most weeks like toilet paper, washing powder, sugar, flour, pasta, rice, butter, cheese, bread etc. These are permanently on the list and then I add whatever else I need.

      I have a rule when grocery shopping – I can only buy 10% of the total on items not on the list and these usually end up being regular items that are on special. This keeps my grocery budget in check while still allowing me to take advantage of store specials. This is another way of saving money in the pantry – take advantage of specials but only when it is an item you usually buy.


      Buying in Bulk

      Buying in bulk is a great way of saving money too, but be sure that you will be able to use the whole amount before it goes stale. Buying more than you can use fresh is just wasted money. The best bulk buys are those that have a long shelf life or are non-perishables. Bigger packages are often cheaper, per ounce, than smaller packets of the same product but the same rule applies – you must be able to use it all before it goes off.


      Buying from Local Farmer’s Markets

      We love to go to local (and sometimes, not so local) farmer’s markets to buy fresh produce. I love that I can talk to the farmer who grew the food and know that it has been freshly picked, dug, laid, or butchered. Most of our fresh produce comes from this type of outlet, which means we are eating in season when the produce is at its most nutritious and hasn’t traveled loads of food miles. Because it is so fresh, it lasts really well, several times longer than store-bought fruit and vegetables. This equates to excellent value for money because there is no waste.


      Buy Boxes of Produce to Process Community Style with Friends and Neighbors

      Another money-saving tactic I use with a group of friends and neighbors is to buy boxes of produce for processing. We might buy boxes of stone fruit and either bottle it or stew and freeze it. Tomatoes are dried, bottled, or made into sauce to provide a supply for months of home cooking. We get together to process the fresh produce and enjoy a wonderful community atmosphere.


      Try Your Hand at Growing Your Own Food

      Growing some of your own food is another way to save money on food. Even if you only have a small patio or balcony, you can still grow a few herbs or easy vegetables like spinach or tomatoes that don’t take up much room. We are also lucky enough to be able to keep a few hens, so we have fresh eggs for some of the year as well as the advantage of their rich manure to feed back to the garden.


      Don’t Buy Items You Already Have!

      You need to know exactly what is in your pantry at any given time to avoid wastage and double-buying. Invest in different sizes of plastic or glass containers that are all the same shape so that your pantry is easy to organize and you can see at a glance what you have and what is getting low. Most foods keep better in solid containers rather than in boxes or bags and so you will have less spoiled food as well.


      Have a Once a Month ‘Eat from the Pantry Night’

      Another great money-saving strategy that a friend of mine has introduced is a once a month ‘eat from the pantry’ night. Using her cooking knowledge and some creativity, she comes up with a meal that uses up items that have been in the pantry for a while. Some of these meals have become legendary! Another friend has taken this a step further; one week a month, she refuses to shop for food and will only use what she already has in her pantry or freezer. Think of how much money you would save if you only did supermarket shopping three weeks out of four!


      Take Advantage of the Convenience and Cost Savings of Freezing Leftovers

      Here’s a few final quick tips for saving money in your pantry – freeze leftovers for a quick snack or meal-for-one; preserve the abundance in season from your own garden; swap your produce with a friend or neighbor to increase variety; buy fresh produce in season when it is plentiful and cheaper and blanch and freeze for use out-of-season. 

      Hopefully you will find some tips in this article that you can use yourself and help lower your food bills.

      How about you all? How do you save money on food? 

      Share your experiences by commenting below!

        ***Photo courtesy of http://prairieecothrifter.com/wp-content/uploads/2011/01/organic-food.jpg

        Save Money While You Travel This Spring and Summer

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        Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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        The following post is by MPFJ staff writer, Greg Johnson. Greg is a proud husband, father, and debt crusader who is in the process of becoming debt free. Along with his wife, Greg co-founded the personal finance blog, Club Thrifty, where they encourage readers to “Stop Spending. Start Living.”

        It’s that time of year again. The weather is getting warmer. The snow is melting. The college kids are getting ready to drink entire beers through a funnel and a 3-foot hose. Yeah Homeslice! It is time for Spring Break!

        I don’t know about you, but I love to go on vacation. Getting out-of-town can be one of the biggest mental health boosters around. However, traveling can put the hurt on your pocket-book if you don’t watch what you are spending.

        Here are a few tips to keep you from crushing your budget during this year’s travel season:

        Tips for Saving Money While Doing Your Spring and Summer Traveling

        1) Plan Ahead – You may not realize it, but making your vacation plans several months in advance can save you a fat stack of cash. Although you’ve already missed the boat to plan ahead for this year’s Spring Break, the good news is that you still have a little bit of time to plan ahead for your summer vacation.

        If you are willing to book your accommodations and flights 6-9 months ahead of time, you may be able to save several hundred dollars. Furthermore, check for availability during non-peak seasons. If you are willing (and able) to travel during the school year, you can find deals of up to 50% off peak-season pricing!

        2) Rent a Condo – Are you going to be hitting the beach this summer? Rather than renting a hotel room, try renting a condo instead. You’ll be able to save money on food because you’ll have a kitchen that you can use to eat in. Better yet, how would you like to have triple the room at half the cost? Often times, you’ll find prices between hotels and condos are very similar. Share a condo with some family or friends so that you can split the cost and drive the price of your lodging down even further. Usually, the best deals can be found if you rent directly from the owner of the unit. Using websites like VRBO can help you to book a sweet vacation at a great cost.

        3) Drive – If you can make it to your destination by driving for a day, do it. If you are traveling with more than one person, plane tickets can cost a small fortune. Rather than spend 8 hours at the airport, why not save the money and spend 8 hours in the car instead? You’ll be able to see and experience more of the countryside. Plus, you may end up with some great stories to tell once all is said and done. As a bonus, you’ll have still have your car once you reach your destination. That is sure to save you money on a taxi or a rental if you want to get out and see the sights.

        4) Bring Your Own Snacks – One of the most expensive things about traveling is the cost of eating on the way to your destination. Not only is it expensive, it is sneaky about it as it is easy to forget to budget for these costs. Whether you are buying a $4 bottle of water at the airport or a $6 value meal from McDonalds, all of these miniature meals can add up over the cost of a round trip – especially if you are traveling with a family.

        Rather than stopping 2 or 3 times along the way, pack a cooler or a bag full of snacks from home. If you are traveling by plane, this will save you from having to bust your budget on that horrendously expensive airport food. Are you going by car instead? Packing a cooler will not only save you time on the road, but it will save your wallet from a McHeartattack as well.

        The spring and summer travel season doesn’t have to spell doom for your budget. As you can see, there are lots of ways that you can still have a wonderful vacation while cutting back on costs. These are just a few.

        Readers, what are your favorite ways to save on travel? Do you have any big money-saving tips? 

        Let us know by commenting below!

        ***Photo courtesy of http://img.fotocommunity.com/images/BeNeLux/Netherlands/Traveling-by-Hot-Air-a27293873.jpg

        5 Ways To Save On Your Monthly Bills

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        Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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        The following is a guest post by Lewis Murphy. Enjoy! 

        For most people, paying bills each month is a fact of life. However, there are many ways that you can reduce the amount of money that you have to send to your lenders and other creditors.

        Here are five ways to help you save money on your monthly bills.

        1) Look For Refinancing Options

        If you have an auto loan or mortgage, you may want to look at refinancing options that will lower your interest rate as well as reduce your monthly payment. This can work to your advantage if your credit score has recently improved or if interest rates have gone down across the board due to the economy. The good news is that you can refinance your loans whenever you want.

        2) Cut Down On Miscellaneous Expenses

        There are plenty of smaller expenditures made each month that you can cut back on or eliminate. For example, you should cut coupons to lower your grocery bill or eat dinner at home instead of going out for dinner. These small cuts will add up to major savings each month.

        3) Get Rid Of Extra Features That You Don’t Use

        Take a look at your cable and cell phone packages to see if there are any features that you are paying for but not using. If you have a smart phone, there is a good chance that you have to pay for a data plan. However, if you downgrade to a regular phone, you can save anywhere from $15-$30 a month or more. Instead of buying the most expensive cable television package available, you can use services such as Hulu or Netflix to watch your favorite shows for less each month. While a digital cable package can cost upwards of $100 a month, Netflix only costs you $8 a month for streaming service.

        4) Reduce Your Energy Usage

        Turning off the lights can save you a lot of money each month. Additionally, you can unplug your computer, cell phone, and anything else that may be plugged into the wall. If you spend a lot of time outside of your house or apartment, you can turn down the thermostat to reduce the amount of money spent on heating and cooling bills. You have the potential to save hundreds of dollars each month by taking these simple steps.

        5) Look For Better Deals On Insurance

        At least once a month and/or year, it is a good idea to shop around to see if you can save money on your insurance policies. It is an easy way to save $50 or more each month just by spending a few minutes comparing quotes online. The best part is that you can switch insurance providers at any time without penalty.

        In these economic times, it is important to save money whenever you can. By reducing your energy usage, refinancing your current loans, and shopping around for cheaper insurance, you can reduce your monthly bills by a significant percentage. When you see your savings account grow rapidly, you will be happy that you took the time to find ways to cut your spending each month.

        How about you all? If you are trying to save money in a certain month, what methods do you you employ to squeeze through?

        Share your experiences by commenting below!

        Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

        • For me, if I am trying to save more money in a specific month, the thing I usually try to cut back on is eating out at restaurants. By simply cooking at home and preparing meals in advance, you can really save some serious dough! 🙂

        ***Photo courtesy of http://upload.wikimedia.org/wikipedia/commons/thumb/5/55/Twenty_dollar_bills.JPG/640px-Twenty_dollar_bills.JPG

        How Can You Save Money When Purchasing an Engagement Ring? – Lessons from Personal Experience

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        Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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        According to a report from TheKnot.com, they put the average price of an engagement ring around $5,000. In my opinion, this number seems about right after going through the ring-buying process recently (we got engaged on Friday, March 15th, 2013!). If we assume the average household income in the US is $50,000 per year, this equates to ~1.2 months salary spent on the engagement ring.

        The Engagement Ring Markup

        Have you ever stopped to think about why alcoholic beverages at bars and restaurants cost $8 when you can go out and buy an entire bottle of the alcohol in the drink for $15 or eat a dinner at that same restaurant for $10?

        The answer is actually quite simple – it’s because we as society over time have allowed the price to be set this high. Think about it – if we didn’t continue purchasing drinks like this, the price would go down (supply/demand curves, right?). However, the truth is that we are OK to pay this price because an alcoholic drink is more than a simple mixture of raw materials – it’s an experience, both of the taste buds and of the mind (because the alcohol makes us feel a certain way and we often enjoy these drinks in the presence of friends).

        Similar to how we routinely pay for the large mark-up in alcoholic beverage prices, we have also grown accustomed to paying the markup associated with engagement rings. It’s the same sort of reasoning. The engagement ring is more than just a compilation of raw materials, it’s an experience, a symbol, and something that will be worn for a very long time. Thus, people often are willing to pay an arm and a leg for the ring of their dreams. According to one of my friends that is a diamond wholesaler, the stores that he sells to mark up the price of the rings at the retail point 3 times! That’s quite a business, right?!

        Even though we as ordinary consumers do not have much control over the global price movements/markups of engagement rings, we should focus on what we can control – trying to optimize our own engagement ring purchase so that we save the most amount of money while obtaining the most value. 

        In an effort to help others, I thought I would share 8 cost-saving strategies that I employed recently while negotiating a path through the world that is engagement ring purchasing.

        Money-Saving Idea # 1 – Have an Idea of What You can AFFORD vs. What You Can Comfortably SPEND Prior to Going to the Ring Store? 

        For me, an important distinction in the ring-buying process was drawing a clear line between what I could AFFORD based on my salary and savings and what is an INTELLIGENT amount to spend based on my financial goals.

        Because of the magnitude of the engagement ring purchase, I think that a lot of guys have these lines become very blurred. In other words, since they are only going to complete this purchase once, they think about the maximum amount they can AFFORD (utilizing credit cards, savings, payment plans, etc) instead of thinking about a comfortable amount they can spend while still working towards their long term goals and not racking up more debt. This is the same sort of logic that goes in to buying an appropriate “amount” of house; the lenders will give you a house payment that is 40% of your salary, but most the time, an intelligent amount is only 28-30% max of your monthly salary.

        When I first started thinking about purchasing an engagement ring, I loosely defined my comfort/intelligent spending level as $1,000. This was a good number to have in mind/establish internally before actually going out and being influenced by salespeople, my girlfriend/fiance, etc.

        Money-Saving Idea # 2 – Ask For a Discount and Search for Better Offers Elsewhere

        In my specific situation, my fiance had done the bulk of the “shopping-around” for an engagement ring on her own with one of her friends. They went to maybe 4-5 jewelry stores in town, and the rings that my fiance liked best were at a chain jewelry store, Zales.
        Having never been to a Zales before in my life, I didn’t really know what to expect. However, I was pleasantly surprised with the kind and low-pressure sales staff, the Lifetime Diamond Guarantee, and the value that was on offer for the price points at Zales. All in all, it seemed like a good place to buy a ring! 
        Having nailed down the specific store that we would look for rings in, I then went with my fiance to pick out a couple of rings that would be “acceptable” options, with the intention of coming back later to actually purchase one of the rings to at least have some element of surprise. 
        Prior to physically going to the local Zales store, I did a little research online to see what sort of discounts people tended to get at Zales. To my surprise, the consensus in the Internet discussion forums was that large chain stores like Zales do not really offer discounts, even if you ask for them specifically. 
        However, I figured that this wasn’t going to deter me all that much. Since I knew there was such a large markup on diamond rings, I figured that it was likely that if I asked for a discount, they would give me one. And sure enough, after trying on a few rings, I simply asked, “Can you please give me a 10% discount on this ring?” The saleswomen politely replied, “Yes, but only if you purchase it through me because we’re really not supposed to give discounts like this.” Now, I’m not sure if she was telling a white lie or not, but it was good to hear that I could at least get a 10% discount on the ring to take care of some of the taxes! 
        After defining the general level of discount I could obtain from the local Zales store, I then reached out to other jewelry stores (included other Zales locations) in the area and region (within a 1 hr drive or so) and asked the following questions:
        • Do you have the XYZ ring that I want to purchase?
        • Can you beat the price and 10% discount being offered by my local Zales location for this ring?

        Unfortunately, for the specific ring I was looking at buying, the other stores I called either didn’t have the specific model or offered similar pricing as the local Zales store. However, it never hurts to ask and shop around, right?!


        Money-Saving Idea # 3 – Don’t Forget to Consider Outlet Store Versions of Jewelry Vendors 

        The next idea I came up with to try to save some money on my engagement ring purchase was to try to purchase the model ring that I was wanting from a Zales Outlet Store instead of a normal retail-priced store, since outlet stores generally have lower prices. 
        However, in my specific case, the closest Zales Outlet Store was 3 hours away, and since I didn’t feel like driving that far, I decided not to pursue that option any further.  But hey, it never hurts to think about it if you have outlet stores in your area!!! 🙂

        Money-Saving Idea # 4 – Wait to Buy Until There is a Sale

        As we mentioned previously, the markup on diamonds and jewelry is crazy! Because of this, I found that there ALWAYS seemed to be sales going on in order to move product. 
        Because of this, a good mode-of-operation to go by is to never buy an engagement ring unless you are getting some sort of sale. 

        In the 1 month period that I was closely monitoring discount and sales promotional offers at Zales, I think there were like 5-6 different sales that came up:
        • 15% for Valentine’s Day.
        • $50 off for signing up for free email updates from Zales.com
        • 15% off store-wide online only sale, for no particular reason other than having a sale! (haha!)
        • 75% off clearance items.
        • 25% off clearance items.
        So, even if there is not a sale going on at the moment you’re reading this/looking for a ring, just wait two weeks and you’ll likely have one pop up! Just be patient!

        Money-Saving Idea # 5 – Consider Shopping Online After Trying on Rings at the Jewelry Store

        In the end, I actually purchased my engagement ring from the Zales.com online website. You can see a picture of it at the top of this blog post. 
        Since a lot of rings I saw (including the one I ended up buying) looked a lot different in real life than in the online pictures, I wouldn’t advise anyone to buy a ring until they have seen it in person with more natural lighting. There’s something also to be said for physically going to the store in order to try rings on as well! 
        However, after trying on rings at the store and having the saleswoman write down the exact model numbers of the rings that I was interested in, there are some significant benefits that can be realized by buying a ring online. 
        Several of these benefits for my specific situation (and hey, maybe yours when it comes time!) are listed below:
        • No pressure sales. 
          • Even though the saleswomen at Zales was very nice, in my mind, it is always a good idea to spend some time by myself prior to making a large purchase just to double-check that everything is good to go.
          • By purchasing online, you can buy an engagement ring at any time of the day or night, at your speed, in the comfort of your home.
        • No pressure to buy extended warranties (which more than likely, are not needed – see more about this below).
        • More sales/promos being offered to online shoppers only.
          • This was really the biggest factor for me. When I purchased the engagement ring, I bought during a 15% off sale that was only available to Internet shoppers. Pretty good in my book! 
          • In addition to store sales, you can also take advantage of cash back websites (see more on this below).

        Money-Saving Idea # 6 – Utilize Cash Back Website

        So, having found a way to save 15% through a sale/promo offer for my engagement ring, I was feeling pretty satisfied. However, I figured that in today’s modern Internet age, there had to be a way to save even MORE money! After all, I was about to spend around $2,000, and with the high mark-up on rings, I figured that Zales would likely be begging for my business! 
        In order to research available options to save additional money, I simply Googled, “saving money + the store I was looking to purchase the ring from.” 
        • When I did this, the search revealed that people saved money on their Zales purchases in three primary ways:
          • Sales/promo offers
            • Check – already done in my case!
          • Online coupons
            • Unfortunately, the coupons I could find for Zales were for very small amounts of savings such as free shipping, $30-$50 off, etc, and could not be combined with other sales.
            • So, coupons were out of the question for my case!  
          • Clicking through to the site you’re buying from through a cash back website
            • Now, this was a new thing for me to hear about! 
            • What happens with these cash back websites is that brands pay these sites a portion of affiliate income anytime someone comes directly from their site and makes a purchase at the brand. And, these referring sites pass on some of their affiliate income to you, the purchaser! Pretty cool, right?!
            • These cash back opportunities can be significant – anywhere in the range of 2-15% cash back, so they are definitely worth looking in to!
            • To find out what type of cash back websites and offers are available for any major purchase you’re thinking about, simply Google, “cash back website + the store you’re purchasing from.”
            • In my case, the best offer (which I took advantage of) was 7% cash back using the site, BeFrugal.com.

        Money-Saving Idea # 7 – Extended Warranties Make the Store More Money Than They Save You, the Purchaser

        Heaven forbid we make it through purchasing ANYTHING major these days without someone attempting to sell us an extended warranty plan! 
        On my post from 2012 about CarMax’s extended warranty plan on car purchases, we have had some really great comments! Someone mentioned that the salespeople make almost the same commission on selling an entire car as they do on getting someone to purchase their extended warranty. That gives you an indication of how lucrative these things are! 
        Let’s take a look and see how Zales’ extended warranty stacks up to determine how it is likely un-necessary. 
        On diamond ring purchases of $200 or more, Zales offers a free Lifetime Diamond Commitment limited warranty. Under this warranty, you have to bring your ring in every 6 months for cleaning and tracking (for free!), but in return, they will replace or fix any diamond that is damaged or lost from it’s original setting under normal wear and tear. It does not include loss due to theft or if you simply leave your ring somewhere due to user negligence.
        So, that’s the free option. Let’s now take a peek at the paid extended warranty that Zales offers.
        There are two extended warranty options from Zales, the Lifetime Jewelry Protection Plan and the Lifetime Jewelry Protection Plan with Limited Theft Replacement. The only thing that the Lifetime Jewelry Protection Plan gives you on top of the free warranty above is regular repairs. In my opinion, it’s unlikely that this will be used very often, so I don’t see this as being a good deal. Similarly, the Limited Theft Replacement is ridiculous because it only covers you for theft if it occurs less than 2 years from the date of purchase. 

        As you can see folks, do yourself a favor and just say NO to extended warranties. OK?

        Money-Saving Idea # 8 – Use a Cash Back Credit Card for the Purchase

        The final method I used to save some money on my engagement ring purchase was the use my Chase Freedom Cash Back Credit Card. 
        Since I was purchasing the ring online, I knew I would need to use a credit card since it provides me with purchase protection / fraud security if I needed to dispute anything in the unlikely event that I got screwed by Zales. Alas, this didn’t happen, and the ring came in record time and in great shape!
        However, an added perk was that I was able to get an additional 1% cash back by using my card.

        If you have multiple credit cards, check before deciding which one to use to see if any offer “rotating categories” that happen to be offering a larger amount of cash back for jewelry store purchases at the moment. Unfortunately, none of my cards offered that enhanced cash back category at the time I bought my ring. 

        Putting it All Together – Total Money I Saved

        The item pricing for the ring I purchased was $2299.99. The following price adjustments were then made:

        • +   $97.75 for sales tax
        • –    $345 for 15% off for buying during online-only sale
        • –    $161 for 7% cash back clicking through to Zales.com from BeFrugal.com’s cash back website.
        • –    $23 for 1% cash back using Chase Freedom Visa Card.

        So, the net cash outlay to me ended up being $1868.74. Not too bad at all since we are very satisfied with our ring purchase! 

        However, it’s pretty amazing that simply by doing a little planned shopping, I saved myself $529 (or 23% off in the end)! Nice! 

        How about you all? What techniques would you utilize to save money on your engagement ring? Have you used any of the ones discussed above?

         Share your experiences by commenting below!

          ***Photo courtesy of http://nominalnuptials.com/wp-content/uploads/2013/03/ring.jpg

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