saving money

Smarter Spending

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Think you're pretty savvy when it comes to spending money; you might want to double check a few purchases.

Even if you're trying to cut back chances are you're still spending money on things that you might be able to get for free. Or you might be able to cut back on things you have to pay for just by making better decisions. To help pad your bottom line MSN Money has a list of the twelve things we pay for that you probably don't need to.

For example, new books. Books are expensive and are usually only read once before they sit on your shelf. Instead of buying new consider joining your local library. Or go to a used bookstore where you can buy and sell for a significantly lower price.  read more »

Digital Natives

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The world is becoming more computer savvy and that could be good news for your wallet.

A digital native is a person that was born or raised during the digital age making them more familiar with computers at an early age. According to an economist from HSBC Bank with more people around the world gaining internet access the population of digital natives is growing.

He says this means the marketplace will change and the price of goods and services will begin to drop because of things such as comparison websites, improved supply chains, access to alternative products and new technology.  read more »

iBag2

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Looking for a way to curb your spending habit? Try locking yourself out of your purse.

iBag2 is the new creation from the shopping comparison site finder.com. First you program in the stores that you just can't resist spending money at and then input the days and times you are most likely to be around those stores.

When the bag's GPS censors detect you going to close the bags will lock up. If you manage to get it open the bag also comes with a wallet that will blink and flash lights when you pull it out to make you think twice about your purchase.  read more »

Financial Security

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When it comes to financial security, having money is just half the battle.

Carrie Schwab-Pomerantz is a leading advocate for financial literacy and a certified financial planner. Plus it doesn’t hurt that her father is financial icon Charles Schwab. She says a majority of the country does not know how to properly handle money.

“My concern is that as a country we’re not talking about the lack of financial literacy. Financial literacy is necessary to have financial security.”

Carrie says teenagers and 20-something’s aren’t being taught how to manage debt and the responsibility of credit cards. On the opposite end of the spectrum people in their fifties aren’t fully prepared for retirement.  read more »

Year End Tax Strategies

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The clock is ticking down to the new year. Last chance to book some tax breaks.

According to Jeff Reeves, editor of investorplace.com, there are year end tax strategies you can use to keep some of your money from the tax man. In an article written for USA Today, Reeves suggests 11 strategies.

By example, defer a year end bonus until January, pushing back the tax bill by another year. If self employed defer some your year end income into January. If you have to pay taxes, at least you can defer the event, keeping that money in your pocket a bit longer. Also look at last minute write-offs such as donating to charity. And you can give a gift of money up to $14,000 to a relative as a yearly tax free gift.  read more »

Financial Fears

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It's been five years since the economy began its downward spiral; but some people aren't so quick to forget.

Since the collapse of U.S. investment bank Lehman Brothers families across the world live in fear of a relapse. So they're hoarding money selling assets all in an effort to pad their nest egg. Problem is; the more people protect themselves the more they endanger the global economy.

An Associated Press analysis of households in the ten biggest economies show that families have pulled hundreds of billions of dollars out of stocks, stopped borrowing and are investing money into savings and bonds. Things with interest rates too low to keep up with inflation.  read more »

Cutting Back

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Cash strapped Greece is cutting back… on job perks.

After being bailed out twice by the Euro Zone and the International Monetary Fund Greece is looking to save some cash. And it’s coming out of the pocket of the private sector. The latest change includes scraping a bonus workers have enjoyed for more than two decades; six extra days of paid vacation every year just for using a computer. That idea went into effect in June of 1989 to reward people who had to sit in front of a screen for more than five hours a day. The country’s administrative reform minister says that idea is outdated.  read more »

Wasting Money

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Saving money can be as important to your financial peace of mind as making more of it.

Kelly Anderson writes for mint.com, an internet site that helps you manage your money. And she points out six areas where Americans waste far too much money.

We spend billions of dollars every year on frivilous purchases we do not need. Here's her list. Junk food. We consume too much of it. It can be far cheaper to cook at home, and it can be a lot healthier for you.

Waste. We spend far too much for energy when we could just turn off the lights when not in use and we throw away too much food.

Gambling, sure. Someone wins the lottery every week but you have a better chance of being hit by lightning.  read more »

2012 Savings

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Wishing for a cheaper year; here are some items that could give you hope.

In order to make 2012 a bit more manageable the website dealnews.com has put together a list of twelve items they predict will drop in price over the coming months. And if they are right you can save on everything from the roof over your head to high end gadgets to your favorite after work drink.

First on their list is a product people camp out for; the Apple iPad 2. When Apple releases the iPad 3 it will probably cost about the same as the former model. But its release does mean the price of the iPad 2 will drop. The newer version could also force retailers to offer more deals as they try to clear off the shelves and make room for the new inventory.  read more »

A Financial Incentive

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When the ball dropped on the 31st, most people resolved to lost weight or save money. Why not both?

Hana Bank in South Korea has a new account that can help with two of the hardest habits for people to stick to; slimming down while bulking up your bank account. The program is called “S-line,” a Korean word that means an hourglass figure. The desired shape of most people. Once you sign up for the account you hit the gym. The more calories you burn the higher interest rate the bank will give you. If a customer loses more than 5% of their weight within the year, or holds a gym membership the bank will grant special rates.

So far the high interest savings accounts have brought in about $400 million from 50,000 customers.  read more »