Archive for the ‘Budgeting’ Category

Finances and Scripture

Monday, October 5th, 2009

Years ago (15 – 20 years!)  I went through the Crown Financial series.  I still remember some of the Bible verses we had to memorize.    Some of the great ones were:

The rich rules over the poor, and the borrower becomes the lender’s slave.  Proverbs 22:7

The wise man saves for the future, but the foolish man spends whatever het gets.  Proverbs 21:20

Steady plodding bring prosperity.  Proverbs 21:5

But if anyone does not provide for his own, and especially for those of his househole, he has denied the faith, and is worse than an unbeliever.  1 Timothy 5:8

I found a link on the Crown website with many more Bible references.   Check them out.

Strategies to Avoid Identity Theft

Sunday, September 27th, 2009

There are several strategies you can take to help avoid identity theft.

  1. Reduce you reliance on snail mail.  Sign up for online statements and use online bill pay.  I love online banking and have used it for years.  I have swtiched bills over to electronic as soon as it was available from each company.   It also leaves you less to shred – no hard copies.  If you don’t have ingoing or outgoing mail in your mailbox, your important information can’t be stolen from your box.  Use a PO box if you must get snail mail. 
  2. Track your statements.  Check transactions on each statement.  Reconcile your statements.  I use Quicken and have for years.  I do direct download from my accounts into Quicken.  At the end of the month I can reconcile my accounts in a matter of seconds.
  3. Set up a secure online security system.  Make sure you have ant-virus, anti-spyware and firewall protection.  Don’t log into financial accounts on a public or unsecured computer.
  4. Think carefully about your passwords.  Don’t use obvious passwords or the same one over and over again.  Using a jumbled combination of letters and numbers is the best.  Keep an Excel spreadsheet of all of your passwords but make sure that is also password protected.

Do you have any other suggestions?

Check these sites before you buy

Friday, September 25th, 2009

There are a lot of websites out there to help find deals on purchases.

For deal of the day offers check out www.dodtracker.com.

To find printable coupons and codes for online shipping check out www.retailmenot.com.

For a comparison shopping website that locates bargains check out www.shopzilla.com.

You can sign up for email alerts on brand names at www.shopittome.com.

Do you have any others that you recommend?

How to Find a Better Bank

Friday, September 25th, 2009

Small banks, credit unions and online banks want your business.  But how do you find a good banking facility to do business with? 

Locate a credit union by going to www.creditunion.coop.  You can join many credit unions that you wouldn’t necessarily think you could join.  You can join the Pentagon Federal Credit Union by joining the National Military Family Association for a one-time $20 membership fee.  Credit unions often offers lower rates for things like auto loans.

You can find small community banks at www.icba.org and click on bank locator or just look around your community for them.  Building a relationship with a small local bank also helps out your community.

You can find online banks through www.bankrate.com.  You can check if the bank is FDIC insured by putting the bank’s name into www2.fdic.gov/idasp/main_bankfind.asp.  I have accounts at several online banks.  They can pay higher rates on savings account and it only takes a couple days to transfer money which isn’t a problem.  Not having immediate access to the money can be a plus as you can’t spend it as easily.

Shopping for Insurance?

Wednesday, September 2nd, 2009

I recently shopped around for home and auto insurance. I have had the same company now for at least three years and thought I may get a better deal somewhere else. I contacted several different companies and completed several online applications. I ended up keeping the insurer that I have – no company could beat the rates. I did find some useful websites during the search. I am always nervous about changing companies as you don’t know if they are financially sound or if they have a lot of complaints against them. You don’t want to switch and then have those kind of problems. Here is NAIC National Association of Insurance Commissioners . You can search by company and state to find out about companies.

I also did a google search on my state “insurance regulator” and found the state site with more information on insurance companies and their record in my state. I even found that my state has comparison rates from numerous companies just by answering a few questions. The resulting chart gave me the rate info, financial info and complaint index all in one table. For Texans it was at www.helpinsure.com.

I did end up saving money on my auto insurance by taking a defensive driving course again. I have been taking the course every 3 years to get the discount and my discount had just expired. So I took the course again. I save $43 every 6 months by my husband and I taking the course. The course was $35 each and that included lunch and a “comedy” guy (although he wasn’t so funny but it was better than sitting at the computer 6 hours to take it.

Work From Home

Friday, August 21st, 2009

100BuckIt is so hard when you try to find work from home income. There are so many scams out there. You don’t know where to turn to for legitimate work. I found a story on the ABC News website concerning this topic and thought I would share the link. The article has quite a few different ideas and links to places to go for more information. Here is the link. I hope you find something that you enjoy and brings in some extra cash.

Teach Your Kids About Money

Monday, August 10th, 2009

I found a very good resource for teaching kids about money. It is filled with various activities you can do with your children. Click the image below to go to this site.

Thrive by 5

Key Steps to Achieve Your Goals

Wednesday, July 22nd, 2009

There are some key steps you need to take in order to meet your goals – whether they are financial goals, fitness goals, weight loss goals, career goals, etc.

First you need to know where you are today. What is your current situation? Where do you stand?

Next step is where would you like to be? Where do you envision yourself going? Set specific goals. How much money do you need to save, how much weight do you need to lose………whatever the situation is? Look at the people you know who are healthy or who are doing well financially; then compare their habits to those who are unhealthy or not doing well financially. Look at the people who are involved in positive relationships, and compare their habits to those who aren’t. Look at the people who are successful in their jobs; compare their work habits to those who struggle. Positive habits yield positive results.

Third step is can you get there? Based on your current situation and future requirements, is it realistic and obtainable?

Fourth step is how do you get there? What strategies do you need to implement to make your weight loss goal, career goal, retirement goal, etc? Write down your plan. Ask others to hold you accountable.

Last step is how can you stay on track? Reevaluate your goals and plan on a periodic basis. For weight loss and fitness goals that may mean weekly. For financial and career goals that may be annually. Keep a written log or chart of your progress. Keeping score is a powerful motivator. If any of your goals or circumstances have changed, make appropriate updates that address you evolving needs.

Protect Against the Unexpected

Friday, July 10th, 2009

Life happens!  Many times we are faced with the unexpected – accidents, injuries,  job loss, disabilities, death, etc. You should plan ahead for the unexpected.  A great way to start is to have at least 6 – 8 months in an emergency fund.  But there are other things you can do to protect you and your family from unexpected events.  Here are a few of the events you should develop strategies for:

  • disability – disability insurance
  • illness – health insurance
  • car accident – auto insurance
  • premature death – life insurance
  • nursing home care – long-term care insurance
  • living longer than expected – annuities
  • long-term inflation – stocks or stock mutal funds
  • falling rates – bonds or bond mutual funds

Do you have a strategy for each of these possible events?  You should think about and plan for what you will do in each of the above situations.

Before You Buy …….

Thursday, July 2nd, 2009

Before you buy (insert anything here) think about it. Think about it at least overnight. Ask yourself these questions:

  1. WHY do I NEED it?   Or better yet, DO you really need it?
  2. WHY do I WANT it? Are you sure you really want it? Will it still be used/wanted a year from now or will it just be on a shelf, in a closet or in a garage collecting dust?
  3. Can I AFFORD it?

If you are in debt, don’t buy anything unless you really NEED it. Don’t buy anything on credit to put you deeper into a debt hole.   Don’t go to a store to walk around and spend time.  You will just end up buying things you don’t really need, don’t really want or can’t afford.