Banking Advice | BankingAdvice.com » Savings

Saving Secrets of the Wealthy

admin — Tue, 13 Jul 2010 14:02:34 +0000

Many believe that people who have recently come into money (termed “nouveau riche”) are easily recognizable from “old money,” or people that have been wealthy for generations. Here is some advice about money saving strategies of the wealthy. What makes these nouveau riche stand out is the level to which they spend and show off all their newly acquired items - from flashy sports cars to outlandish homes. In comparison, many very wealthy families are far more inconspicuous. For many of these families, the focus is on purchasing quality that lasts a long time - not on the newest trendy car...

Money Saving Ideas For The Summer

admin — Mon, 14 Jun 2010 15:15:53 +0000

Summer is almost here and it is a great time for the entire family to have fun. If you are worried about budget constraints putting a damper on your summer fun, worry no more. There are many activities and places you can frequent as a family without breaking your banking account. Here is some advice and ideas for your summer fun. If you have an active family, you can enjoy family bike rides or family hikes. You can visit the local park to ride bikes together on an approved bike path. Parks also provide a great atmosphere for picnicking. After...

Financial Advice for Young Adults

admin — Thu, 08 Apr 2010 14:40:42 +0000

There are many ways to prepare for your future financially. Some ways are simple and don’t require much thought. Some are major investments that you could make to better your life. Here is some advice to get you started. One rule about money is to plan ahead. It’s always best to have extra money put away for emergencies. Also, beginning to save early can make major purchases more easily accessible to you. Some of these major purchases include your first car, college, a house, or other things you might want to buy. Saving early will also relieve some of the...

Become a Careful Spender

admin — Sat, 13 Mar 2010 19:04:31 +0000

It seems like an easy task, but saving is hard - especially in these tough economic times. You may barely have enough money to pay your bills, let alone save money for a rainy day. But, cheer up, anyone can become a thrifty spender. Here is some advice to get started. The first thing that most families do is to create a budget. If you already have one, it may be time to re-evaluate it in light of your current financial situation. There is always some tweaking that can be done. Spend your money wisely and choose Webster online banking...

Money Saving Ideas for Families

admin — Tue, 23 Feb 2010 17:50:42 +0000

Money isn’t always readily available for such things as expensive outings and activities for you and your family. With the uncertainty of the economy these days, more and more families are searching for free, frugal and money-saving ideas in order to keep the family having fun together without breaking the bank. Here is some advice and options to keep your family activities happening without the costly aspect some choices may have.

Your local community may have a “Parks and Recreation” website or booklet available to residents. These usually include a variety of activities in different price ranges, from free to...

Saving Raises

admin — Thu, 11 Feb 2010 16:15:07 +0000

It may have been a while since you've seen your last raise due to corporate cutbacks, but things may open up shortly. It feels great to get a raise. It makes us feel like we’re being rewarded for all our hard work. It provides an incentive to keep doing a good job. And most of all, it puts more money in our pockets. It can be tempting to start spending more money when we get a raise. Just a few extra dollars on each paycheck can make it possible to go out to eat once a week or start building...

Keeping Track of Your Money

admin — Tue, 21 Jul 2009 15:25:57 +0000

When it comes to keeping family finances in order, one of the most common hurdles that we face is overspending. Sometimes someone is obviously blowing money on unnecessary things, but often it’s much more subtle. Everyone spends a few dollars here and a few dollars there, and when the month is over, a lot of dollars are gone. In order to get a handle on your budget, it’s absolutely essential to carefully track expenses. This includes bills, variable necessities such as groceries and transportation expenses, and discretionary spending. Here are some of the many reasons why we must do so:

Keeping track...

Money Saving Ideas for the Weekend

admin — Mon, 20 Jul 2009 17:00:04 +0000

Although money may not always be in abundance for activities for the entire family, this doesn’t mean your family needs to miss out on some well-needed time together. Enjoying each others company is an important aspect of everyone’s life. There are many different educational, economical and fun ways your family can have fun together. We’ve come up with some ideas as to how you can still engage in some family-oriented activities for fun family activities, making memories together during these times where money isn’t always readily available for spending. 1. Rent a movie. Instead of taking the whole family to the movie...

Get Pleasure From Saving Money

admin — Wed, 29 Apr 2009 15:11:17 +0000

The key to developing a lifelong habit of saving money is that you must never feel deprived. Saving has to feel as good as spending. Of course, you'll need to turn a deaf ear to the many commercial messages that have been bombarding your brain ever since you started watching Saturday morning cartoons. In place of the advertiser hype, keep reminding yourself that the money you save holds the promise of an even greater reward down the road. That's because your savings will be earmarked for the things you know you want — not what somebody else wants you to...

Preparing for a Potential Layoff

admin — Sun, 22 Feb 2009 19:20:01 +0000

In a Senate hearing on October 23, 2008, former Fed Chairman Alan Greenspan referred to this financial crisis as an “economic tsunami”. He was right back then, and now everyone needs to hunker down and get prepared for an economic rollercoaster.

If you have concerns you may be laid off, there are certain steps you can take now to alleviate the pressure and stress should this eventuality occur.

1. Put away enough money to cover expenses for the next 18 months. Normally 6 months is sufficient but due to the market volatility and potential difficulty is finding a...