Many people entering the work force in the current economy may find themselves questioning traditional advice as to 
how to get started with retirement savings. That is of course if they are thinking about retirement savings at all. Hopefully, all young people are thinking ahead as the key to growing your savings is to start early, ideally when you first begin working. While things have certainly changed in the past few years, many financial planners are still recommending basic retirement vehicles to work toward your retirement goals. This includes the 401k. Here we look at tips for setting up a 401k when you are just starting out.
- Understand the importance of starting early. Starting retirement savings in your 20′s may seem a bit early, when you are in your 20′s. After all, it could be hard to imagine the end of your career when you are just starting out, however the early start is what helps your savings grow. When you start as early as possible, preferably with your first paycheck, you have the time on your side, in this case possibly decades for which your savings can grow. By starting at the the very beginning of your career, you tend to not even miss the recommended 10% of your wages that financial planners suggest you put away.
- Automate versus autopilot. There is little doubt that people who set up automatic deposits to their preferred savings vehicle will save more over time. When you have to physically move money from one place to the next, there is a tendency for that money to get lost in the transition. Understand however that just because your savings should be automatic, they shouldn’t be on autopilot. This means that once you establish your 401k, you should pay close attention to where your money is being allocated and what is happening with those investments. Saving for retirement is intended to be a long term investment strategy, however there will be times when you have to make changes to ensure your money is being put to the best use.
- Investigate your options. Retirement plans can be confusing, especially when you are just starting out. Make sure you ask plenty of questions and fully understand the benefits as well as drawbacks of each option. There are several types of 401k, each with their own restrictions and exclusions. It is imperative you understand what your options are as well as the long terms consequences. Knowing the difference between a Roth 401k and a traditional 401k, as well as maximum allowed contributions are the types of things you should be well versed in before making your final decision.
- Avoid debt as you save for retirement. It can be very easy for individuals just starting out to begin saving yet end up owing more money in the long run. While retirement savings are very important, do not cut your budget too short which could result in high interest debt that is counter productive to your long term financial goals.
The economy is never going to remain the same, therefore it is important to know how to invest your money wisely throughout all stages of your life to ensure when the time comes to retire, you have the savings available to live comfortably.
While technology is advancing from week to week, your desktop or laptop computer should service its purpose for
some time. As with any machine, maintenance and preventative care is required. Tough viruses or other complicated matters should be left to the professionals but there are some things users can do to help keep their computer running smoothly without the high cost associated with tech help.
Here are some tips to try at home:
Slow Activity
If your computer is running slowly, there is a good chance your system has a virus, spyware, or malware. You can take action and preventative measures by installing anti-virus programs, anti-spyware programs, and spam fighting programs. You can purchase a complete program for a reasonable cost or, if you are more tech savvy, you can browse the Web for free downloadable programs like AVG.com or Spamfighter.com. Be sure to install the programs completely and keep them updated for the highest protection.
Go Faster
For computers that are slow at start up, it would be beneficial to delete unused programs by visiting Control Panel in your Start menu and clicking on the Add/Remove option. Delete only what you don’t need. You should also get into the habit of regularly emptying your Recycle Bin and delete all Temporary Internet Files. Also in your Start menu is the System Tools selection where you can run the Disk Cleanup tool to further clear out old information. Select the Disk Defragment tool which helps to consolidate file particles, giving you more room.
Add More RAM
A cost-effective way to get your computer moving faster is to install more RAM (random access memory). 2-4 gigs extra is priced around $30-$40. More memory will give you a faster machine. Check the manufacturer’s website for information about what kind of RAM to purchase and how to go about installing it.
Getting Too Hot
Computers that shut down with no warning may be overheating due to dust and debris. You can use a can of compressed air to spray out the keyboards and fan system of your computer. You should unplug the devices before cleaning. You can also purchase a USB-powered cooling fan that sits under a laptop to keep the machine cool during extended use. Cooling fans cost about $25 and can last a long time if they are kept free from dust and dirt.
Have Backup
Purchasing an external hard drive can save not only cash but also time and irritation should your computer conk out. External hard drives can run as low as $99 and connects to the computer through the USB port. By backing up your files regularly, you’ll have access to your information in case of a permanent meltdown. There are also online back up companies where you can store your information up to certain size for free.
Are you trying to save money, but just can’t seem to figure out how? Believe it or not there are some simple things 
that you can do that will get you saving. Follow these tips to save $100.00 or even more every month.
Your first step to monthly saving is to look at all of your household bills. Are there services you are receiving that you just don’t need? Most of us have several that we really could do without. Simply downgrading your cable package or eliminating extra channels you pay for like HBO can help to start the savings. Could you bundle your phone, cable and internet together to save money. Many people do. You may also want to consider eliminating your land line altogether. Most people have cell phones and find they don’t use their land line enough to warrant keeping it.
You should also look at other bills like your insurance premiums for example. Many times just with a few phone calls you can find a rate that is more favorable than your current one.
Next, look at what you spend on food each month. Do you grab your coffee to go and what about lunch when you are working? Do you pick up take out or head out to dinner frequently? If so, stop. Make your coffee at home and pack your lunch. Plan your meals ahead and save take out and dinners out for special occasions. Fixing it your self can be a fraction of the cost you spend out every day.
How about your grocery bill? Do you buy items that you really don’t need? Most of us do. Make a list before you head to the store of the items you really need and then stick to it. Don’t be tempted to add extras to your cart. You can also clip coupons and plan you meals around store specials that week for additional savings.
Finally, look at what you spend on entertainment. While we all need to have fun, there are ways to still do so and save money at the same time. If you rent movies a lot or purchase books, check out your local library instead. You might be surprised at the selection of items waiting for you that won’t cost a thing. Check your local paper for free or low cost events in your area. There is usually plenty available for people on a budget.
As a final piece of advice, keep in mind that it is only a savings if you save the money and don’t spend it elsewhere during the month. Often people will work hard to lower costs and save the money only to turn around and spend it foolishly somewhere else.
Comparison shopping is when you look at a product that you plan to purchase and compare the price of the same or similar product at different stores or locations. You then purchase the product where you can get the best bargain. You can price compare just about everything from your groceries to a new vehicle, children’s toys to finding a hotel for you next vacation. Avid bargain hunters know just where to look to find the best deals. Here are some tips to get started:
One quick and easy way to comparison shop is to look at the store’s specials. For example ,you can look at several different advertisements for grocery stores in your area before you head out to do your shopping. You can then choose the store that has the best bargains on the items you plan to buy. Many bargain hunters will even stop at multiple locations, picking up the items they need that are on special in each store.
Looking at advertisements is another great way to begin to price compare for bigger ticket items. If you are looking to buy a television set, a washer or lawn mower for example, you will want to seek out ads for the stores that typically carry these products. You can check out the items that are on sale that week, comparing cost to the product features. Many times, with these types of items, it is also a good idea to visit the stores to take a look. Some stores will even haggle with you on the price. As an added tip check to see if there are any other bargains to be had. Sometimes if you open up a store charge account you can get an additional discount.
Purchasing a new vehicle is another place that bargain hunters price compare. In this case it is usually best to visit different dealerships to look at the vehicles, decide on features and price compare. Once you have decided on a particular make and model to purchase you can then make the sale at the dealership that will offer you the best bargain.
Price comparing for vacations is also a great way to find a deal. If you are planning a trip, whether you are looking for a hotel room, a luxury resort or even a cabin on a cruise ship, bargain shopping can save you money. It is very easy to compare prices on the internet for these services and many travel websites compare prices for you.
Bottom line, you don’t need to pay full price. With a little bit of time and effort you can learn to bargain shop and save a bundle.
You do not have to spend a lot of money to have a fun filled day or evening with your family. In fact there are countless activities that you and your family can do together that are free or cost very little. Let’s take a look.
- Visit a local park or playground if you have young children.Let the kids have fun on the playground equipment. Take along a soccer ball, basketball or other sporting equipment to keep you entertained.
- Find a nature area or preserve and take a family hike together.Bring along a picnic lunch and enjoy all that nature has to offer.
- Dig out everyone’s bicycles and head out for a bike ride. Most areas have bike paths that are great to ride on.
- Check out local area beaches. Sometimes there is a small fee for entry. Make it a full fun beach day.
- If it is winter time and there is snow on the ground, pull out the sleds and find a park in your area with a hill. If you have young kids even a small hill will be loads of fun.
- Head out in the snow together as a family and make snow angels and snowmen. After the outside fun head back inside and make hot chocolate together.
- Have a camp out in your back yard.
- Have a family game night. Pull out the games from your game closet, dust them off and take turns choosing which one to play. Your family can have hours of fun playing your favorite games together.
- Head to your local library and check out books to read and movies to watch together. Most libraries carry a nice selection of family movies. Head home, pop some popcorn and watch a movie together.
- Pull out family photos to look at together or take out the home videos. It is always entertaining to take a trip down memory lane.
- Have a family pajama party.
- Take time to make a fun meal together. One idea is to make homemade pizza. It is pretty easy to make and fun to eat.
- Do a jigsaw puzzle together.
- Call your local museums and see what programs they offer. Many times local museums offer free or low cost family programs.
- Keep an eye on your local papers for fun festivals, area events or other family fun activities that may be free of charge.
If one of your New Year’s resolutions for 2010 is to cut your spending habit, here are some tips to get you on your way.
Switch to Cash
Leave your credit cards at home and switch to spending only cash. When you can only spend cash you are limited to what you have on hand, helping you to keep your spending under control. When you rely on plastic, it is very easy to add extras to the cart knowing that what you spend can be virtually unlimited. After all you can spend today and not worry about it till later. This can be a deadly habit.
Learn the Difference Between Needs and Wants
Before making purchases stop and determine whether or not what you are going to purchase is a need or a want. Think it through. By all means if it is a necessity and you have the cash, make the purchase. If however, it is just a want weigh the pros and cons. Before making the purchase decide whether or not you can truly afford it and what purpose the item will serve you. It is also a great idea to sleep on any purchases that are not necessities. Sometimes when you have given yourself a chance to think about it, you realize you really can live without the item.
Make a List and Check it Twice
Never shop without making a list first. It is so easy to randomly throw objects into your cart as you go through a store. Before you know it you could have dozens of items that just aren’t necessary. Before heading out to shop, especially for groceries, determine what you need and write it down. Once you are in the store, stick to purchasing only what is on your list.
Keep Better Track of Finances
Keep a Debt Diary. Write down every dollar that you spend. This way you can see where your money is going. Then total it. It can be amazing to see how easy it is to spend hundreds of dollars each month on needless purchases like coffee to go or lunches on the run. When you see it in black and white it is much less tempting to make those purchases.
Don’t Skip Entertainment
Finally, give yourself some play money. Each week or month make a dollar allotment that you can spend how you see fit. Whether it is $10.00 or several hundred, depending on your means, you can blow that money any way you like. Just know that once the money is gone you are done for that time period. Knowing you have this fund will help you to stay away from extra spending.
As the cost of everything on the planet increases, people are finding it difficult to stay afloat financially. Saving money has become increasingly important in most households. Here are some easy methods that you can use to reduce your grocery bill and your utility bill.
Saving Money at the Grocery Store
You can potentially save hundreds of dollars per year by using grocery store coupons. It’s possible that you’ve been stuck at the checkout line of the grocery store behind someone who is fumbling with a stack of coupons. However, you can potentially save hundreds of dollars per year by using grocery store coupons.
Purchase generic products instead of name brand products. Many times people can’t even tell the difference between a store brand and a name brand product. The only major difference is the price tag.
Make a grocery list and stick to it. Many people often go to the grocery store not knowing what they want to buy, and they end up purchasing items that they don’t really need. Making a definitive list will ensure that you don’t end up impulse-buying.
Saving Money on Utilities
If you have traditional incandescent light bulbs, you might want to replace them with fluorescent bulbs. The fluorescent bulbs use 75% less energy, and lasts up to ten times longer than incandescent bulbs.
Water heating is the third largest household energy expense. Lowering the temperature on your hot water heater can shave dollars off your utility bill. If you have plans to go on vacation, reduce the water heater temperature to the lowest setting. Washing clothes in cold water instead of hot or warm water will contribute to a lower utility bill as well.
Chances are you have appliances around your house that remain plugged in at all times. Some of these items soak up electricity, and you might not even know it. Unplugging appliances that have clocks like microwaves and coffee makers will help save electricity as well as a few dollars every month.
A clothes dryer is one of the most energy-consuming appliances in your household. A cheaper alternative to drying your clothes is to invest in a clothesline and start hanging your laundry out to dry. Sure, it’ll take more time, but your lower utility bill might be worth it. If weather does not permit, you can still hang your clothes to dry inside your home. Dry racks can be purchased at any department store.
Your paycheck can quickly dry up courtesy of inflating utility and grocery costs. Using some of these common sense ideas-coupled with a little sacrificing of certain luxuries-can help absorb the ever-growing price increases.
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