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Where Should You Keep Your Savings?

admin — Tue, 07 Sep 2010 14:03:49 +0000

Making your savings work for you is a cornerstone of your overall financial plan. When making the decision to save money, it is also good to have specific goals in mind. However, an important part of saving is almost always overlooked is where to keep the money so that it works for you. There are many different types of accounts that you can use to gain interest on your savings account and make your money work for you. These days it is difficult to achieve even a 1% return on the money you keep in a bank. But the...

Jump Start Your Savings

admin — Mon, 09 Aug 2010 14:15:52 +0000

Getting motivated to start saving can take some effort, especially if you have never set up a savings plan before. In order to start saving it helps to have a specific goal in mind. You also need to have a good overview of your finances and your expenses. It can be difficult in the beginning to create a savings account, but once you start it will be easy to continue. Some of these suggestions take just a few minutes, others might take an hour or two, some of them require a bit of regular effort, but they’re all incredibly...

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...

Using A CD Ladder for Your Emergency Money

admin — Thu, 24 Jun 2010 15:49:03 +0000

In today’s very low interest rate environment no one should be satisfied with receiving .25% (or less) on their savings. For emergency funds and other forms of savings a CD Ladder may be the best way to both get a higher interest rate, as well as maintain the flexibility to use this money if needed. CD Laddering simply means buying a number of CDs with different maturity dates. By purchasing shorter and longer term CDs, you spread out the interest rate risk. You don’t earn as much as you would by locking in for the long-term, but you are able to...

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...

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 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...