Saving Money For Travel

Saving Money For Travel Tips

Many families take a vacation as a reward for working hard and making it through the preceding months. Vacations create unique memories that everyone will share for years to come. Coming up with the money for a trip is not always easy. There are five budgeting tips that any family can use when saving money for travel.

1. Create A Savings Account

Creating a separate savings account for vacation money will help in a number of ways. It allows families to see the actual amount of money saved without having to deduct current expenses. A separate account also makes it harder to access the savings. This reduces the chances that it will be used for an impulse purchase. A dedicated savings account is useful because it is safe and separate from the main accounts used every day. Fees or other charges on a checking account will not affect the vacation savings.

2. Temporarily Eliminate Extras

A vacation is a time to relax and to have fun. One way to save money for a trip is to reduce the extra services in a home temporarily. Sacrificing a little entertainment or fun while saving will make the vacation much more enjoyable. Some extra services that could be cancelled include premium cable channels, housekeeping and expensive cell phone perks that do not affect service. These services can be reactivated after the vacation. The money from the cancelled services can be put directly into the savings account each week or month.

3. Lower Credit Card Payments

One way to help save money is to try to lower credit card payments before the vacation. Lowering interest rates will reduce monthly spending on bills. Credit card companies will sometimes lower rates for good customers who call and negotiate. This is not always possible for people with credit problems. A reputable credit repair service can often fix credit history problems quickly. This can make it possible to negotiate with a credit card company for lower rates.

4. Reduce Vacation Costs

An alternate way to help save money for a vacation is to lower the cost of the trip. This will make each dollar saved more valuable. Reducing the cost of a vacation can take some work. It is helpful to check regularly if there are new deals or discounts available. Finding less expensive hotel rooms or airfare will make it easier to save and will give the family more spending money once the vacation starts.

5. Create And Follow A Budget

The most effective way to save money for a vacation is to create a budget and then follow it as closely as possible. The budget should account for food, gas and other spending. Unnecessary expenses like eating out should be removed from the budget. All members of the family should resist spending money that is not listed in the budget. A good budget will predict exactly how much can be saved each week. It also shows expenses that could be reduced.

Hulu Or Netflix

Hulu Or Netflix: Which One Is More Worth Your Dollars?

Most consumers used to just sign up for cable without thinking about the alternatives, but the era of cable bundles may be coming to an end soon. Many people are finding that they would rather watch television online using their mobile devices as well as their gaming consoles and computers for a flat-rate that is much lower than cable.

So Hulu or Netflix?  Well, netflix currently has about ten times as many subscribers as Hulu, but their service has also been around much longer. Netflix has pledged to spend five billion dollars on acquiring new content throughout the next five years. They will be focusing on acquiring all of the most popular movies and television shows.

Hulu is owned by ABC, NBC and FOX. They currently offer customers the current season of shows from these networks for streaming. In addition to their large selection of television offerings, Hulu is currently experimenting with the addition of movie titles.

Hulu & Netflix – Accessibility and Content

Hulu or Netflix can both be streamed on many different devices, including smartphones, tablets, gaming consoles and Blu-Ray players. They both allow customers to stream content over mobile broadband 4G and 3G networks.

Netflix is currently stocked with about 100,000 streaming options and their movie collection is constantly growing. They offer a variety of television shows, however most of the shows they offer have been cancelled. Their options for current television series usually don’t include the current season.

Hulu offers many current television shows and most current episodes are available the day after they air on television. Most people who watch Glee and other current television shows opt to subscribe to Hulu. The have shows from many networks, including ABC, BBC America, FOX, The CW and USA. The movie selection at Hulu is sparse, but their selection of television shows is excellent.

Hulu and Netflix Users Watching Habits

Hulu and Netflix Users Watching Habits

Graph Credit –www.nielsen.com

Price

Netflix streaming costs just $7.99 per month for unlimited streaming of any of the content on their site on any supported device.

Hulu offers customers many shows for free at Hulu.com, but these shows are interrupted by substantial advertisements. Customers can choose to subscribe to Hulu Plus, which costs $7.99 per month and allows customers the ability to download mobile apps and access Hulu content through gaming consoles. The amount of ads is substantially reduced for Hulu Plus customers, but a few ads still appear during streaming.

The Bottom Line On Hulu or Netflix

Many people who get rid of cable spend $15.98 per month to subscribe to both Netflix and Hulu. This gives you the best of both worlds, with a variety of movies and television shows available for streaming at any time. Netflix is generally the best option for customers who want to keep their cable bundle while giving themselves the option of instant streaming and more movie choices.

Budget Planner Template

Using A Budget Planner Template

I recently received an email from John about using a budget planner template.  He wrote:

“Hello, I’m feeling a little lost and have some questions in regards to budgeting and saving.  1. Which budget planner template should I use?  2. From the total salary what percentage is ideal to spend for various needs, and how much to be saved for future?  Any insight would be greatly appreciated.”

It’s a question that we all must answer. Even if some of us would prefer to ignore it! Because, with rare exceptions, we all have to deal with having just so much money to cover all our expenses. And, if we spend more than we take in for very long we get into trouble.

Let’s look at a “typical” budget planner template. Then we’ll discuss it.

Category% of Income
Housing35%
Food15%
Auto15%
Insurance5%
Entertainment5%
Clothing5%
Medical5%
Everything Else5%
Savings10%

Understanding The Budget Planner Template

The first thing you’ll notice is that I didn’t include any taxes (either income or Social Security). You can choose to do that if you like (in fact, it’s a real eye opener). But for our purposes it’s easier just to deal with your ‘take home’ pay.  The second thing to notice is that this is a guideline, not a straight jacket. The truth is that very few of us will fit into this exact framework.  So if your spending doesn’t match, don’t despair! Analyze the situation before you panic!  Try our excel budget template!

Customize the Budget Planner Template To Fit Your Wants & Needs

For instance maybe your entertainment spending is closer to 10%. Is that a problem? Maybe not, if you’re young, single and sharing an apartment with three friends. In that case what you save on housing is going for entertainment. So overall you’re not spending more than you’re making.  Or you may be a city-dweller where housing is very expensive (think NYC). But because of public transportation you don’t own a car. So the extra you spend on housing is offset by the reduced spending on transportation.  You get the idea. Tailor your spending plan to your needs. And, adjust it as you go through life and your needs change.  One other thing to notice is that housing, food and auto make up the lion’s share of the expenses. That’s true for almost everyone.  It’s in those three areas that most families get into trouble. Most often by buying a home or vehicle that they cannot afford. But once the commitment is made it’s very hard to undo.

Categorizing Your Expenses

You might wonder where a certain expense goes. For instance, household cleaning supplies. Many people buy them at the grocery store. So are they a housing or food expense? The answer is: it doesn’t much matter. Put them wherever it seems best to you. The key is always putting them in the same place, so you can compare results from month to month.

Another common question is what should I do with charitable contributions. You can either take it off the top (like taxes) or create a separate category for it. If you believe that contributions should come before your expenses you’ll want to take it off the top. If you think that it’s part of your regular spending then include it as another expense category.  For a budget planner template to be effective you must continuously follow your progress.

How Much Should You Save?

Finally, let’s look at John’s question about saving. There probably isn’t any single right answer, because saving isn’t really an expense. It’s an investment for a better future.  So I prefer to think of savings in terms of priorities. Before I can put money aside for savings I need food and a reasonable shelter. Probably also need dependable transportation to get to my job.  But after those basic needs are met, it’s time to begin saving some money. Not necessarily the 10% in our guidelines, but 2, 3 or 4%. Enough so that there’s some money set aside for the so-called unexpected expenses that happen to us all (dead appliances, home and auto repairs, unexpected sickness, temporary lack of work).

One other comment about savings. Paying off debt (especially credit card debt) is a little like savings. Consider payments used to reduce the amount owed as if they were savings or a Bank CD.  Finally, for those of you who don’t want to bother with any of this. I know what you’re thinking: I’m fine and don’t need any help monitoring my money. Just remember that most people who are in trouble today said the same thing when everything looked good to them.

 

Financial Resources For Improving Your Financial Situation

Managing your funds well throughout these times is of utmost relevance. Individuals are having a hard time making ends consult the raising cost of products as well as the rising interest prices on home mortgage as well as vehicle findings- the honest truth that a number of companies, and economic titans at that, are either folding or minimizing workers.  You can improve your financial situation greatly by using the right financial resources.

Much uncertainty waits for the air in today’s financial scene triggering the need for useful finance assistance not simply for huge financiers yet right to typical individual trying to endure the day-to-day grind. It would certainly seem like employing an individual economist to help you make likelihoods and ends of your present situation would certainly be pricey as well as can perhaps lower your readily available financial sources likewise even more down.

Financial Resources Suitable for Road to Your Economic Success:

First is investments.  There is no warranty that you’ll generate cash from investments you make. Yet if you obtain the basic realities about saving as well as investing and also adhere to using with an intelligent plan, you should certainly manage to obtain economic security as well as safety and security for several years and also indulge in the benefits of handling your money.

No individual is birthed recognizing exactly how you could conserve or to invest. Every effective investor starts with the essentials. A few individuals might stumble into economic protection – a wealthy loved one might die, or a business may eliminate. For great deals of people nonetheless, the only technique to obtain financial protection is to conserve as well as invest over a lengthy amount of time.

Discover if there is any money that could be spent. If so, then consult with financial resources such as an investment broker to check out if precisely what you need to invest is worth the trip. If it is large as well as it is put appropriately, then perhaps there will certainly suffice to use towards your retirement.

When you obtain your entire ducks right, make sure your tax obligation lawyer or accountant realizes your complete monetary development. They can assist you much better plan for the future by recognizing where you go to the present moment. They can additionally supply you some terrific recommendations relating to the very best ways to proceed in your investments.

Time and again, individuals of also moderate means which begin the quest reach financial security and also all that it assures: buying a home, academic chances for their children, as well as a comfy retired life. If they could do it, so might you.

Savings & Budgeting

Second of all is making to get just your basic needs as well as save as much of your incomes as you can. Include your cost savings in your regular monthly budget strategy. It is likewise a good idea to examine your investing methods and also you will be able to check out where you need to make decreasing or you could possibly source for an additional income. If you use bank card, it is very important to manage your investing. They are hassle-free yet at the same time they can land you into a stack of monetary difficulty.

It is vital that you entirely realized just exactly how it works to make sure that you could utilize it appropriately. If you acknowledge that you could not have the discipline as well as you put on not would such as to carry cash around, you can go with a debit card. It functions merely like cash and has a limit relating to simply just how much you can invest.

Moving Out of Parents House

Moving Out of Parents House & Dealing With Money

Guide to Moving Out of Parents House & Dealing With Money

People do not stay at home in the entire life. The life must go on. And to build up the career and to make success in life you people need to focus on moving out of parents house.  For education, job or business, they must have to face the reality of life. But, most of the people often get stuck or fixed in the times of managing the money.

Staying at home, actually keeps people tension free from the tense of money management and dealings.  Especially, when people stay with parents they don’t have to care for anything. The problem arises when they leave home. Leaving home leads people in huge problem as they will have to manage each and every financial aspect in their own way. And often they fail to manage that.

So, what they need to do is to know and learn to manage the money so that they can get out of financial problems. Here you get to know the ideas about the ways to manage the money and budget so that life can run smoothly.

Planning a budget:

This is actually the most important part of money management. People need to make a budget about the expenses in every month. They must know how much they earn and how much they can expense. With this assessment, they need to set up a budget.

One thing must be performed and that is you should not spend more than you earn. You should spend less than your earnings. This habit can save you from all odds in the management of the life after leaving home. In fact, people must maintain this and exceed the budget.

It may happen for some month that you need to spend exceeding the budget. If you will have to do that, make sure you can recover that in the next month. If you can manage to make some savings in every month, you may not have to face problems even if you have to exceed the budget in a month. You can manage to make that possible with using the saving account.

Avoiding taking loans:

After leaving home, most of the people make this mistake. They depend on payday loan no credit check. This habit can lead them to huge problems. The problems are associated with the default as they can not manage to repay the debts. This can harm the future financing as well. So, people should avoid taking loans.

Instead of taking bad credit loan, they can do an added job. Utilizing the vacation or weekends can make you generate some money so that you do not need to go for a loan. Whatever you do, you should not go for applying for a loan.

Avoiding using credit cards a lot:

If you have the habit to purchase everything with credit card, avoid that if you have left home for making career. This habit can lead you face credit card debts which can harm you a lot. So, use the credit card as less as you can. It would save you from many dangers.  Now you’re ready to start the process of moving out of parents house.