Everything Finance

Online Colleges and Universities

noreply@blogger.com (Everything Finance) — Thu, 07 Jan 2010 10:21:29 PST

The guys over at Online Colleges and Universities compiled a list of 200 business resources. Included in the list are free online courses, blogs and books about personal investing. You can study up on guides for stocks, mutual funds and bonds. Many of the blogs included have hundreds of tips to get your finances set straight. There are also resources to increase your general business knowledge, like accounting basics and management tips.

In addition, there are free online courses from respected universities, like MIT. Learn about economics through an online course and also the in’s and out’s of taxes and insurance. If you had interest in becoming an entrepreneur, this guide can point you in the right direction for starting your own business as well.

Save Money in the Year 2010

noreply@blogger.com (Everything Finance) — Tue, 29 Dec 2009 17:45:48 PST

Money is a valuable source which is indispensable for everyone. Since it helps us to lead a life without any hassles we should try saving it. We should follow the line of the ant and be wise and not be foolish like the cricket. Money can be saved in many ways. To list a few: car insurance, bank savings, clip coupons, investments in moveable and immovable property, etc.

Insurance policies help us to save money as well as help us to cut down our income tax. The premium amounts are varied and meager and don’t pinch our pockets. As it covers our accidents risks and also our health problems our money is save in our hands. Saving our money in banks has always been the best way to save money.

Insurance on vehicles, especially, cars always help us to replace parts damaged during accidents. A small percentage of income deposited in our account always help us in times of need. As the proverb goes ‘Little drops of water make a mighty ocean’, hence little amounts of money saved can increase to a greater amount and that is why bank savings are always preferable. A word of caution to those who desire a greater interest rate, please don’t invest in benefit funds which offer large amount of interest rates.

Clip coupons help to save money during a shopping spree. We can purchase things at a lower rate. We can also buy things we need, when there is a genuine rebate offered in shops, we can buy them at the whole sale retailers and save some money there too. But it’s always wise to remember that not all rebate offers are genuine. The best form of investment has always been buying lands and jewels. At present, with land and gold prices soaring high it’s a good idea to invest in them. But too much of gold can attract burglars, like bees, to your house so “Beware!”.

Other than these secure ways of saving we have other less secure ways like investing in shares which is not always safe, lending money for interest, winning lottery tickets and of course gambling! We do have numerous ways to save money but choosing what is the best way lies with your intelligence and common sense

Save Money on Auto Insurance

noreply@blogger.com (Everything Finance) — Thu, 17 Dec 2009 19:22:45 PST

I'm doing a 2 part series on how you can save money on your insurance. In this part I'm going to talk about ways in which you can save some money with cheap car insurance.

Do you wish you could squeeze extra savings from your budget--without making any big sacrifices? Here's an idea you may not have thought of: Slash the premiums you pay to insure your home. Rates have risen so sharply in recent years that it may seem impossible to cut these back. But there are many ways.

YOUR AUTO INSURANCE

Consider canceling collision insurance (for damage) and comprehensive insurance (for theft) if your car is older. Your insurer will never pay more than the vehicle's current resale value, which may be low for a car that's been around. Ask your agent what you're paying for collision and "comp" and compare it with what your car is worth right now. You can find out by checking the Kelley Blue Book site (kbb.com).

Cancel the coverage if it's costing you more than the insurer would pay to repair or replace your car.

Raise the deductible That's the amount you pay out-of-pocket before your collision or comprehensive riders kick in. The cost of those riders drops as much as 25 percent if you agree to pick up the first $1,000 in claims rather than just the first $500. Accept a $2,500 deductible and your savings could reach 40 percent. You shouldn't be filing $500 claims, anyway--insurers don't like clients who turn to them for every little thing. They'll raise your rates and may even cancel your coverage. Unfair? Absolutely, but that's the fact.

Get several rate quotes before you buy or renew a policy. Average premiums are actually expected to drop 0.5 percent this year. Some insurers are cutting prices more--as much as 6 to 12 percent. To find a lower-cost policy, start with the Web (for helpful sites, see the list at left). Once you have prices, call an independent agent--one who represents several companies--to see if he or she can beat the quotes.

Take advantage of every discount insurers offer. They're usually available to people who drive less often than average (fewer than about 12,000 miles a year), older drivers (typically 55+), graduates of driver-training or defensive-driving courses, students with good grades (B-average or better), and owners of cars with safety features such as anti lock brakes. Geico often lowers rates up to 15 percent for active and retired military members. You may also get a discount if the same company insures your car and house (though you'll save only if the company is low cost to begin with).

Drive safely and keep a good credit rating. Speeding tickets, fender benders, and failing to pay your credit card bills will raise your rates. (Poor-credit risks are poor-driving risks, insurers say.)

Tell your insurance agent if your teen moves out or goes away to school. You'll pay less if he is no longer driving your car regularly.

Switch to a safer car Insurers charge less for autos that perform better in crash tests than comparable, riskier models. For crash-test ratings, see www.iihs.org and safercar.gov.

Don't scrimp on liability coverage This is the coverage that kicks in if you injure someone in an automobile accident. The state requires that you buy a certain minimum amount, but that's never enough for people with assets to protect. The policy should be large enough to cover the value of your home, your investments, and some of your future earning power, so a big court judgment wouldn't end up crippling you for life.

Please keep an eye out for my next post on my how you can save money on your Homeowner's insurance.

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Planning to work longer? ...Keep Saving

noreply@blogger.com (Everything Finance) — Sun, 06 Dec 2009 21:47:52 PST

If retirement seems further away than it did before the financial crisis and recession, you’re not alone. A recent Vanguard-sponsored survey found that 45% of American investors see putting off retirement as a possible way to cope with the
effects of 2008’s market meltdown. The trend is especially prevalent among people in their 50s, with 54% of them indicating plans to push back retirement dates.

Extending your working years can indeed be an effective way to close a gap in retirement savings, Working longer has a triple benefit: You’ll need fewer years of retirement income, you can save more, and you get extra time for potential investment earnings. Even before the financial crisis, there was a trend toward delayed retirements; the percentage of both men and women working at age 65 and older had edged up steadily since the 1990s.

Don’t slack off on saving
Still, regardless of whether you plan to work until you’re 62 or 72, you need to keep saving for retirement. The reality is that you can’t be certain when you’ll exit the work force. Nearly half of retirees say they retired sooner than planned, according to a 2009 survey by the nonprofit Employee Benefit Research Institute. Many people expect to retire around age 65, but the median retirement age is actually 62, according to the survey.
An earlier-than-expected retirement can be devastating if your nest egg is small, because you won’t have additional time to build up your savings. The cautionary tale here is that some retirements are involuntary. There may be financial problems at your company, or you may have health problems that force you to stop working. Be realistic about your ability to keep working.

Also be realistic about the need to save.
Human nature is such that it’s easier to commit to working longer in the future than to actually boost savings today.
As human beings, we tend to focus on today and put off making behavioral changes to the future. It’s much easier to say that we’ll work longer 10 or 20 years down the road than to save more today. It’s like saying, ‘I’ll start exercising or lose weight—tomorrow.’

Get ready to downshift
If you do want to extend your working years, think about whether to seek a more flexible work situation. In today’s poor job market, such options may be hard to find, but as the economy improves more opportunities should emerge.

Info on Reverse Mortgage

noreply@blogger.com (Everything Finance) — Sun, 29 Nov 2009 06:38:03 PST

A Reverse mortgage is a program designed by the Government to help senior homeowners who are 62 years or above and do not have any other income to support themselves.

Thus, with reverse mortgage, the senior homeowners can meet their expenses easily without having to borrow from banks or any other institution. It is similar to getting returns from investment, with a difference. Let us have a look at how reverse mortgage works:

How it works?

In reverse mortgage, home is considered as an asset, on which senior homeowners can avail of loan. The following criteria need to be satisfied to avail of home mortgage:

* The age of all the applicants of reverse mortgage should be 62 years or more.
* There is no criteria for income or credit score required
* All properties from 1 to 4, Condominiums that are approved by HUD, PUDs and all homes that are constructed and comply with the HUD standards can avail of reverse mortgage.
* The home should be primary residence of the senior citizens.
* The property should be well maintained.
* The senior homeowners should pay taxes and insurance on the property.

Here is an hecm calculator that you can use.

Pros and Cons of the Reverse Mortgage

Pros:

* Reverse mortgage is a safe loan as it backed by the Government. The property is insured by the Federal Housing Administration.
* The dead investment made in the home can be utilized to earn income and live quality life by senior citizens.
* The senior citizens need not make any mortgage payments or interest payments as long as they stay in the house.
* Upon death of the homeowner, the property is not transferred to the banks.
* Your loan is limited to the value of your house.

Cons

Reverse mortgage is a very good option for the retired personnel to be self sufficient in their old age. However, there are some drawbacks such as:

* The senior homeowner will have to repay any debts prevailing on the loan if he wants to opt in for reverse mortgage.
* When the homeowners die, the reverse mortgage needs to be paid in full by the heirs. For this the property would be sold off and the mortgage would be paid in full. The excess amount would be passed on to the heirs. In the current scenario where the real estate prices are plummeting, reverse mortgage is not an attractive option at least for the heirs as it is a credit line.

Overall, reverse mortgage is the safe and the best option for senior homeowners.

Should I invest in ETFs or Conventional Mutual Funds

noreply@blogger.com (Everything Finance) — Fri, 20 Nov 2009 05:54:01 PST

Investors seeking an index investment nowadays can choose to put their money into either conventional fund shares or exchange-traded funds (ETFs), but deciding which to pick may seem perplexing. Many similarities—and important differences

In many respects, index funds and ETFs seeking to track the same indexes are much alike. Characteristics such as risk and return attributes and portfolio holdings should be nearly the same. In addition, both ETFs and conventional index fund shares are entitled to distributions of income and capital gains.

But there are some important differences, primarily involving their trading features and pricing structures. So before you invest, you should ask yourself both how much you value flexibility—such as the ability to trade throughout the day—and how much you are willing to pay for it.

ETFs offer trading flexibility

Because they are priced—and traded—throughout the day on an open exchange, ETFs offer many features not available with conventional fund shares. For example, ETF investors can employ many of the same sophisticated trading capabilities that are used for trading stocks, such as borrowing against them.
The picture on costs is muddled

The question of costs is not as clear-cut. ETFs generally have lower expense ratios than conventional fund shares. In some cases, however, the difference may be small or nonexistent. (For instance, the expense ratio for Vanguard Total Stock Market Index Fund Admiral™ Shares is 0.09% according to the fund's latest prospectus, the same as for Vanguard Total Stock Market ETF. So if you qualify for Admiral Shares, there may be little or no expense-ratio advantage in choosing the ETF.)

Even when the expense ratios for ETFs are lower, the costs associated with trading them can erase their expense advantage in some circumstances, so you need to think carefully about how you would manage your investment.
A tale of two investors

Here are hypothetical stories of two investors who have settled on index investing and now want to choose between conventional fund shares and ETFs.

Scenario 1: John received a $25,000 inheritance from his uncle's estate. John plans to invest the money for retirement, which is at least ten years away. He likes the trading flexibility available in the stock market, but also knows that he is unlikely to consistently add to or withdraw from the fund. A low-expense ETF could make sense.

Scenario 2: Kathy works in sales and receives bonus checks from her employer every three months. She regularly invests a portion of her bonus—usually between $300 and $1,000—in a retirement account. Once Kathy invests the money, she's unlikely to make many adjustments. A low-cost conventional index fund could make sense.

Note: These illustrations are educational only and do not take into consideration your personal circumstances or other factors that may be important in making investment decisions. The illustrations are not a recommendation to buy or sell a particular security.

For example, how often will you invest? Every ETF trade incurs brokerage costs and a bid-ask spread (the difference between the offer and the sale price, essentially representing the market maker's profit). Frequent trading therefore can rapidly negate the benefit of a lower expense ratio. And if you plan to invest systematically, you'll generally incur lower overall costs with conventional fund shares.

It's also important to consider your time horizon—especially if you plan to establish a position for the long run and don't intend to make periodic investments. The transaction costs associated with ETFs may initially make them more costly for smaller investments, but given enough time, the advantage of a lower expense ratio may outweigh those early costs.

Clearly, much depends on just how much advantage you might reap from the prospect of a lower expense ratio for ETF shares. So be sure to look carefully at the difference in expense ratios between the conventional shares and the ETF. If the difference is large, the ETF might be a better choice even if you are investing systematically, for example.

A final cost factor to keep in mind: To invest in ETFs, you'll need a brokerage account, which could entail miscellaneous costs (such as account fees) that aren't directly associated with buying or selling the ETFs. Even if all else seems to favor ETFs, these other costs, over time, could eat into that perceived advantage—so make sure you know what your brokerage would charge.

Source: Vanguard

A Guide to Reverse Mortgages

noreply@blogger.com (Everything Finance) — Fri, 04 Dec 2009 21:18:46 PST

If you are a senior and own your home, you might be eligible for a reverse mortgage. A reverse mortgage allows you to borrow against the equity you hold in your home and enjoy the money as you see fit. The only requirements are that you must be at least 62 years of age as well as own a substantial amount of equity in the home that you live in. When you pass away, your home will be sold by your estate to pay the reverse mortgage back in full. In some cases there will be money left over, and sometimes not, however this is a great way to ensure that you get all that you can out of your home without leaving your estate or heirs, in any kind of debt.

With a reverse mortgage you do not need to make monthly payments like you do with a traditional mortgage, instead the lender pays you. Reverse mortgages operate in the opposite fashion, offering a borrower money up to the balance of the equity they have in their home. Therefore, there is no risk of losing your home due to missing a payment. This is a benefit many seniors appreciate, especially those that don’t have a source of income to draw from.

Reverse mortgages are also commonly referred to as “rising debt, falling equity” loans or simply “rising debt loans” because instead of paying down a loan balance and increasing your home’s equity, equity is decreasing as a result of increasing debt. Also, keep in mind that a reverse mortgage will become due in full if you move. So if you want funds for a down payment on a new home or even just cash to spend after you move, it would be wise not borrow the full amount of your home’s equity.

If you like the idea of being able to spend your time and money as you choose during your golden years, a reverse mortgage might be the perfect way to go.

5 Tips to Help Save for Your Retirement

noreply@blogger.com (Everything Finance) — Sun, 01 Nov 2009 06:33:53 PST

Saving for your retirement picks up natural speed in your fifties as most people earn the most income during their fifties. You may be at the top of your field in pay and position. The realization of stopping the daily grind of work seems so close. Friends and co workers may have already retired. Here are three tips to help save for your retirement.

1. Maintain Your Health to Stay in Work

Exercising each day puts you in better touch with your health needs. The action of exercising makes the realization closer than you will not be able bodied for ever. Exercising for a few hours throughout the week will help keep you more active to earn additional income to put towards savings.

2. Increase Your Savings

What is your current income to debt ratio? The amount of debt that you owe currently on car payments, unsecured consumer debt, and credit cards may make it almost impossible to increase savings. Consider selling one or more car, van, SUV, motorcycle, RV, or boat that is financed. Sell the vehicles and pay off the loan, then purchase an inexpensive car in cash to free up cash so you can save more.

3. Think About Getting a Second Job

Work an additional part time job or find a creative way to get paid more when you do work. For example if you have worked as a school teacher for twenty five years, consider offering consulting services to the public. This could be through private tutoring in person, tutoring online, or to help give guidance to other people in your field. These clients would pay you an hourly fee based on your experience and would be much higher than many part time hourly rage jobs.

4. Consider Taking on a Lodger

If your budget feels squeezed when its time to pay the mortgage, consider renting out the house. If your mortgage is hard to stay up to date with due to other outstanding debts, think about renting out one or more rooms to lodgers. The mortgage may be $1500 a month, however the home may be able to rent for $1900. Contact a realtor to walk through your home and let you know how much the property would rent for.

5. Short Term Inconvenience is Long Term Gain

Many of your co-workers and family will be solely dependent on family, government assistance, and lines of credit when they stop working, which means that in reality many people are not truly prepared to stop working. Living within your means, getting out of debt, and finding creative ways to make more money is important. It may be inconvenient to take a second job consulting, have yard sales, sell your financed vehicles, and clip coupons. However, when you are able to live debt free in your retirement with enough savings it will be worth it.

About The Author

Mark works as a writer for an Australian business that offers credit cards and debit cards. You can also read more of his writing on their blog, The Credit Letter.

What's in a Credit Score?

noreply@blogger.com (Everything Finance) — Sun, 25 Oct 2009 11:28:00 PDT

Backyard Living & Staycationing
You've heard the term plenty of times, but what exactly is a credit score and why is it so important? Your credit score represents an analysis of your credit history, and represents how credit-worthy you are. Lenders use the score to determine how much of a risk you represent, and to determine if you qualify for a loan.

Five Credit Score Elements
There are five basic elements that are taken into account to calculate your credit score:

1. Payment history. Make sure you're paying your bills on time. If you've missed payments in the past, do your best to get current.
2. Amounts owed. Keep your outstanding debt as low as you can. Remember, it's better to pay off debt than to move it around.
3. Length of credit history. The longer you can show a responsible credit history, the better it is for your credit score. If you've just started out, try not to open too many credit accounts too quickly.
4. New credit. Credit bureaus distinguish between a search for a single loan and a search for too many new credit accounts. So, if you're shopping for credit, make sure you do it within a particular amount of time. The golden rule for new credit? Get it only if you need it.
5. Types of credit used. From credit cards and retail accounts to installment loans and mortgages, we use different types of credit. It doesn't really matter what types of credit you have in your report, what's important is that you're managing them responsibly.

Thanks to a 2005 law, consumers can access one free credit report a year from each of the nation's top consumer credit reporting companies, Equifax, Experian, and TransUnion. These agencies track your credit history and award you a score based on whether or not you pay bills on time. The better your score, the more likely you can borrow at lower rates, reduce insurance premiums and even cut utility bills.

A Poor Score Can Cost You
Prospective employers, landlords, insurance underwriters, as well as others who grant credit, may all acquire your credit report. That's why it's so important for you to check your report at least once a year. Even if you pay every bill on time, mistakes can happen. According to the Public Interest Research Group1, With up to 70 percent of credit reports containing errors ranging from mistaken identities to multiple listings of the same loan, it is up to you to keep on top of your credit history.

Industry experts recommend you review your credit report at least once a year to check for mistakes or misrepresentations that could potentially ruin your credit rating. By checking your credit report regularly you can also spot any attempts at identity theft, and monitor your debt management.

Source: Wachovia eNewsletter

Know More about Credit Counseling

noreply@blogger.com (Everything Finance) — Mon, 26 Oct 2009 06:51:06 PDT

What is Credit counseling in the First Place?

People with a bad credit rating, stands a fair amount of chance to repair their credit rating with the advice of a credit counselor from a good credit counseling agency. What this aims at is helping the creditors understand their buying patterns and help then understand the difference between spending and being a spendthrift. Further more they also help people manage their debts by means of careful budgeting of their income along with education on enhanced money management techniques.

What could be the benefits of seeking credit counseling?

The credit counselors not only talk to you about budgeting and things like that, they also proactively negotiate with the credit companies on arranging for a repayment plan other wise also known as DMP or the debit management plan. By this debit management plan both the creditor and the credit card company is benefited. The creditors get an opportunity to repay their debts in a easy manner that is not tough on them and their family because of the reduced interest rates and the worked out installments for them. While the credit companies get to realize their money from the people which would other wise have been a bad debt for them. There fore it’s a win-win situation for both the parties involved.

How to choose a credit counseling company?

This calls for a little bit of research work for the person who thinks he needs help. The first and foremost thing that is required to be done is the person should check out their web sites and read what other people had to say about them. Then talk to the company and understand how they would plan to help, next thing that is very important is that the counseling company should be certified credit counselors and be registered with the Better Business Bureau.

Now once all that is done with a positive reply for all, then you are good to pass on your financial information to the agent counselor from the company and post that it’s his responsibility to work out some thing that’s good and beneficial for you.

VA Refinance

noreply@blogger.com (Everything Finance) — Mon, 19 Oct 2009 12:13:25 PDT

Mortgage applications are on the rise, driven in large part by homeowners looking to refinance.

For America’s veterans, that’s just another signal that now is the time to capitalize on a VA refinance.

Demand for refinancing loans last week hit its highest level since the first week of June, according to figures from the Mortgage Bankers Association. In all, applications for purchase and refinance loans increased 7.5 percent for the week ending Aug. 21.

Refinance applications continue to increase their share of the market.

With the housing market showing signs of life, veterans with VA loans and conventional home loans may want to consider the benefits of a refinancing through the Veterans Administration.

The VA has different refinancing options for veterans with VA loans and for those with conventional loans. Veterans who used a VA loan to purchase their home can utilize the VA’s Interest Rate Reduction Refinancing Loan, often known as a VA Streamline.

VA Streamline loans don’t require credit underwriting, certificates of eligibility or even appraisals. Veterans with less than perfect credit may be eligible for a Streamline. At the outset, prospective borrowers must at least be current on their mortgage payments and have no more than a single 30-day late payment within the past calendar year.

Some veterans can obtain a VA Streamline with no out-of-pocket costs. Borrowers can also roll up to $6,000 for energy efficient improvements into their Streamline loan.

Streamline recipients are on the hook for the VA’s funding fee (half of 1 percent), but that can be paid in cash or included in the cost of the loan.

Any lender with the requisite approval can issue a VA Streamline. Veterans don’t have to stick with the lending institution that that issued their current VA home loan.

Veterans with conventional loans can also refinance using the VA. Borrowers who qualify can refinance up to 100 percent of their home’s appraised value.

Converting to a Roth IRA ? Read this

noreply@blogger.com (Everything Finance) — Sat, 10 Oct 2009 10:08:00 PDT

Should you convert?

The benefit of converting to a Roth is that you can potentially put some or all of your retirement savings out of reach of tomorrow's tax collectors. Qualified withdrawals from a Roth IRA are tax-free, which means any future investment gains can be shielded from the IRS. In addition, converting allows you to avoid the IRS's required minimum distributions (RMDs) that kick in the year after you turn age 70½.
More on Roth conversion rules

But converting isn't for everyone, and it's a good idea to check with a tax or financial advisor before you make a decision. As you weigh the pros and cons, here are some important points to keep in mind:

1. You have to pay taxes on the amount you convert.

In return for the potential future tax breaks of a Roth, you have to pay income taxes when you convert. That means if you have money in a traditional IRA that you haven't yet paid taxes on, you could have a substantial tax bill. Say you're in the 28% tax bracket, you could owe $28,000 on a conversion of $100,000.

Still, converting may benefit you in the long run if you expect you'll be taxed at a higher rate when you retire. If you expect your rate will be lower, converting may not be beneficial. If, like most people, you're not sure what your future tax rate may be, you could consider converting just part of your traditional IRA to a Roth. Doing so gives you "tax diversification" because you've got some money in a Roth and some still in a traditional IRA.

2. Don't convert if you have to pay the tax on the conversion with money from your IRA.

Stick with the traditional IRA if you don't have money available outside of your IRA to pay taxes on the conversion. Pulling money out of your IRA to cover taxes can defeat the purpose of making the switch in the first place. By reducing your retirement savings, you reduce your ability to generate future tax-free earnings on money invested in the Roth. In addition, if you are under age 59½, the amount pulled out of your IRA to cover the taxes may be subject to a 10% IRS penalty. A cash account is generally the best place to get the money to pay the taxes on the conversion.

3. You can lighten the tax burden of a conversion.

If you don't have enough money to pay taxes on converting all your traditional IRA assets, or if doing so would push you into a higher tax bracket, you can consider converting just part of your assets.

In addition, a special provision applies to 2010 conversions that gives you the option of postponing the tax bill and paying it off over two years. If you choose this route, taxable income that results from the conversion gets spilt evenly between 2011 and 2012. But be aware that tax rates are scheduled to go up in 2011, so—barring any new tax legislation—you could end up paying taxes at a higher rate.

4. The longer your time horizon, the more you can potentially benefit from a conversion.

A conversion may not be for you if you expect you'll withdraw the money within five years. Generally speaking, you'll only be able to withdraw earnings from the account without taxes and penalties if you're age 59½ or older and you've held the Roth IRA for at least five years.

As for withdrawals of your original conversion amount, those are tax-free. But to avoid a 10% IRS penalty, you generally must be either at least age 59½ or wait at least five years after your conversion to make the withdrawal.

5. Your heirs may benefit from the conversion.

During your lifetime, you don't have to take money out of the Roth IRA because you're not subject to RMDs. That means you can leave the entire accumulated balance to someone else. And while a beneficiary who inherits your Roth IRA may be subject to RMDs, he or she can withdraw the amount of your original conversion tax-free. Any earnings are also tax-free, provided that the Roth IRA meets the five-year holding requirement.

Source: Vanguard

Tips for Eating Well in Lean Times

noreply@blogger.com (Everything Finance) — Mon, 05 Oct 2009 06:40:00 PDT

All it takes is advance planning and creativity to eat nourishing, balanced meals on a budget, according to Cleveland Clinic registered dietitians. Preparing food at home is not only less expensive than eating out, it can be a source of fun family time without an admission price! All ages can assist in preparing meals, finding new recipes and scanning the grocery ads for the best bargains.

Buy perishable foods in quantities you'll use. Spoiled food that's tossed into the garbage is no bargain! Look to frozen fruits and vegetables, which are less perishable and allow for portion-controlled servings, unlike canned foods.
Buy fresh fruits and vegetables in season. You'll not only save dollars, you'll also enjoy the most wholesome food on the market. And buying locally grown produce helps stimulate your local economy!
Buy meat in bulk and cut into servings at home. Each stroke of the knife in processing costs more at check-out. Try buying fresh pork loin and slicing it into low-fat loin chops at home. Buy a roast and cube it into chunks for beef stew. Buy a whole chicken and cut it up at home. The less time spent in processing, the better the food value.
Beware of BOGO - buy one, get one free. Either you'll wind up buying foods that you won't eat, or you'll be paying an inflated price for the "buy" item to cover the cost of the free one.
Be an informed shopper and stick to your list. Impulse buying at the grocery store leads to the demise of your food budget!
Limit your purchase of ready-prepared foods. Go to the deli or refrigerated sections for ready-made foods only on occasions when you're willing to pay more for the convenience. You pay a higher price to have someone else prepare the meal.
Clip coupons with caution. Coupons may persuade you to purchase items you generally wouldn't buy. But if the coupon is for an item you can use, look for stores that give double-coupon redemption for extra savings.
Use your imagination with leftovers. Create soups, casseroles and brand-new dishes with your leftovers to avoid tossing out unused food. If you run short of ideas, browse websites for recipes; just key in your leftover ingredients.
Look for outlet stores such as day-old bakeries. Prices are reduced by more than 50 percent from store prices. Bread products freeze well and are versatile - they can be used in sandwiches, in recipes calling for breadcrumbs and for stuffing.
Avoid portion-controlled snack packs. Not only are they more costly, they may not save you calories, either. Remember that fat-free doesn't mean sugar-free, and vice versa!

Inside the World of Penny Stocks

noreply@blogger.com (Everything Finance) — Wed, 21 Oct 2009 06:56:11 PDT

Investing in penny stocks can be both a challenging and lucrative avenue if you are an investor. Knowing what your doing is essential for success, so before we start talking about how to make money with penny stocks, lets first talk about the basics:

What is a Penny Stock?

A penny stock is a stock that trades for less than $5 per share. Most Penny Stock companies have only been in operation for a few years and typically carry less than a few million dollars in assets. Penny stocks are not listed on the three major stock exchanges- AMEX, NYSE or NASDAQ- but are rather quoted on an over-the-counter service such as the OTC Bulletin Board or Pink Sheets.

Many penny stock investors make their money via day trading. Day trading is a strategy that involves buying and selling stock within the same trading session. Investors will open and close a stock position on the same day making their profit on intraday price fluctuations.

A typical trade would work like this:

A trader finds a stock that looks attractive and is selling at $.90. He or she decides to buy 100 blocks (1 block= 100 shares of stock) and pays $9,000 in addition to trading fees. Now say two hours later, the price for that same stock has climbed to $.915. The investor would send a sell signal, and with luck, hopefully find a buyer at that price. If the investor manages to attract a buyer, they would close out their position and pocket the profit.

Of course, real life is not always as simplistic as the example above and there are a lot of variables that can affect the price of a penny stock. However through maintaining a high level of research and dedication, as well as having a little bit of luck, it is very possible to become a successful penny stock trader.

TWO MYTHS that you as an investor might grapple with...

noreply@blogger.com (Everything Finance) — Mon, 28 Sep 2009 08:04:00 PDT

Myth 1: Funds with highest *Star Ratings* or Rankings make better buys

Beware! While you may be tempted to invest your hard earned money in that 5-Star rated Fund, let us throw some light on what could be the consequences of doing the same.

It is commonplace for Fund Houses to flaunt the number of *stars* / points their funds have garnered. In turn, the same is utilized by distributors and agents alike, to convince investors about the merits of the fund. There is nothing wrong with the idea of granting rankings / star ratings to Mutual Funds. However, you should not completely depend on them.

Our Concerns regarding rankings and ratings stems from the following two reasons:

Firstly, the method of computing rankings/ratings tends to be largely quantitative. The norm is that risk-adjusted returns (i.e. returns clocked by a fund vis-à-vis a risk-free investment avenue) and performance vis-à-vis similar funds are the factors considered.

Qualitative factors like the fund management team’s skill sets and the processes followed by the fund house are never factored in. Similarly, fund-specific features like the portfolio management style or adherence to the stated investment style are not considered in the rankings/ratings process either.

Secondly, it is important to understand the nature of the fund and whether it is fit for a particular investment objective. A 5-Star rated fund need not be suitable for your Portfolio. Why? If you are going to invest for a period of 3-6 months, a 5-Star rated Equity Fund or Balanced Fund is not a right selection. Similarly, for a 10 year time horizon, a 5-Star rated liquid fund is the wrong choice.

The Reality: Star Ratings cannot help you make the final decision on funds. They are, at best, a starting point.

Myth 2: I don’t want to invest in Mutual Funds... I prefer investing only in stocks

Who wants to invest in financial instrument like a mutual fund that probably grows half as fast as some ‘exciting’ stocks during a bull run? The poser is relevant. Underperformance almost always gets a thumbs down, no matter what the reason. After all, every investor wants his money to work for him and if a stock does that better, why invest in a mutual fund?

Mutual funds may lack the excitement of a stock, but it’s the kind of excitement that investors can often do without. Mutual funds may not scorch the investor’s portfolio in a bull run like some ‘exciting’ stocks, but you can be sure they won’t burn a huge crater in the investor’s portfolio either, when individual stocks are crashing by 40%, for instance.

You as an investor have the liberty of investing in stocks, debt funds and Gold.

The Reality: Mutual Funds give you the privilege of diversifying your Portfolio by allowing you to access other’s expertise.

Let me tell you a good story. A father and his son were once traveling to their native place. The son who was carrying a lot of money with him put all the money in his shirt’s pocket.

Seeing this, his father said, "Son, don’t put all the money in your shirt, keep aside half the money in your socks". By doing this, you will not lose all your money if you get robbed!

The Moral: Don’t put all your eggs in one basket!

So, would you prefer investing your hard earned money in Mutual Fund Schemes based on *star ratings* or choose ‘fundamentally researched’ Mutual Fund Recommendations?

You Need To Start An Emergency Fund...TODAY!

noreply@blogger.com (Everything Finance) — Mon, 21 Sep 2009 07:14:00 PDT

Major expenses have a way of coming along when you least expect them. A leaky roof. A sudden illness. A furlough or job loss. Such events can leave you scrambling for cash at a moment's notice.

That's why you need to have an adequate emergency fund—an account apart from your regular savings that you can reach quickly when you need to. Having a "rainy day" account will save you from having to dip into your retirement savings and other long-range investments, or taking on high-interest debt.

A common rule of thumb is to set aside enough for three to six months worth of living expenses. However, given today's uncertain economy and job market, you may want to stash away even more.

So how do you figure the amount you'll need to stock away?

First, add up your fixed monthly expenses—the ones that don't change from month to month. Include your mortgage and/or rent payments, insurance premiums, and property taxes. Then add in the average monthly amount of your variable expenses, including groceries, utility bills, transportation, clothing, and other expenses. Then calculate how much your monthly expenses will be during a six-to-nine-month period.

Don't include your discretionary expenses—restaurant meals, vacations, and other non-necessities—since you won't likely be paying for them during an emergency.

Start saving now

Accumulating a sufficient emergency fund will take some time, so it's important to get started if you haven't already. Keep your immediate goals small and manageable. Review your savings and checking accounts to determine how much you may be able to move to an emergency fund. Consider any windfalls you might be receiving, such as a bonus or a tax refund.

You should also track your discretionary spending for a month to figure out where you can cut back, and divert that money to your emergency fund.

Emergency fund needs to accessible

Convenience, stability, and liquidity are crucial in choosing where to keep your emergency fund savings. You'll need an account that's easy to access by electronic withdrawals and checks.

Consider keeping your emergency fund in a bank account or in a conservative investment like a money market fund so that the funds will be readily available.

Whichever type of account you choose, make sure it is separate from your other investments so you won't be tempted to use the money for anything other than real emergencies.

Once you establish the account, get into the habit of adding money to it regularly. A simple system to boost savings is to set up an automatic investment plan. Whether it's weekly, biweekly, or monthly, create a schedule and stick to it. When you make saving automatic, you won't even have to think about it.

Above all, remember to add to your emergency fund regularly, even if it's a small amount. The success of any savings plan depends less on the rate of return than on consistently putting money away and leaving it there.

10 Rules of the Rich - written by Natalie Pace

noreply@blogger.com (Everything Finance) — Sat, 02 Jan 2010 05:20:33 PST

1. Give yourself a raise.
10% of your net income should go on auto-deposit into your 401(k), IRA, health savings account, etc. Period. Stop whining, complaining or procrastinating. It’s tax deductible. Pay yourself now, or pay the IRS later. And if you don’t know how to invest, put it in a FDIC-insured savings or money market account while you educate yourself.

2. Be charitable.
Tithe 10% to charity. Fuel your favorite cause with your cash and reap the benefits of helping your community, of networking with others who have like-minded goals and of the tax write-off! Pay your favorite charity now, or pay the IRS later. Every rock star, including Bono, Sting and Mary J. Blige, know the value of this!

3. Educate yourself, your family and others.
Education is the single highest correlating factor with income. So invest in your education. Surgeons make more money than gardeners, and surgeons who have educated themselves about investing make greater gains than those who invest blindly (or not at all). According to the Bureau of Labor Statistics, full-time workers without a high school diploma earned $465/week on average in June of 2009, compared to $1,140 for a Bachelor’s Degree, and $2,130/week (women) to $3,434/week (men) for professionals with a master’s or higher. Find a way to put money aside for your education. Typically that means cutting your costs in the basic needs department. College students might consider sleeping on a couch for a few years, in order to earn double the income for life!

4. Have fun.
Here are the goods. Health is wealth. You can’t earn a great living if you can’t get out of bed. And if you want to really have great results, you need to be a great team player. So, your time on the golf course, on the tennis court or on the racetrack means that you’re going to be more fun to be around – someone whom others want to interact with and do business with! Exercise is one of the best things you can do for your health and beauty, and pleasure is a free endorphin that releases anti-oxidants that keep you youthful and sexy. Beautiful reasons to have some fun today!

5. Double your pleasure.
Double your fun budget! Make sure that you are taking 10%-20% of your income for FUN! I take 10% out in cash and spend it until it’s gone. The other 10% I save up for a year to do something really adventurous. It makes working so much more pleasurable when I am anticipating exactly how I’m going to enrich my own life as a result. (In 2009, I spent a month in Italy!)

6. Stop complaining.
Some people say, "I spend my fun money on my home." That’s cool, but then stop complaining that you don’t take vacations and start enjoying your home more. Can you have artist salons, or a front porch bayou Bluegrass party where someone blows on a jug and another plays spoons? A barbecue and three-legged race? A monthly yoga potluck dinner? Make sure that you are enjoying what you own, otherwise your retail therapy isn’t working!

7. Basic needs must be under 50%, including taxes.
Ha! Think this is impossible? Guess which ethnic group is the highest income earner in the U.S. in 2009. Before I reveal the answer, I want to point out that this group was one of the lowest wage earners in the U.S. at the turn of the last century. How did one ethnic group rise from the gutter to the palace so quickly? By focusing on education and dramatically reducing basic needs expenditures. If two families had to live in a two-bedroom apartment so that the kids could go to medical school, they did that. And now, Asian men make a weekly income that is 21% higher than whites and almost double the weekly income of blacks and Hispanics. (source: Bureau of Labor Statistics, July 16, 2009)

8. Think partner, not competitor.
In 2006, Universal Music Group was posturing to sue MySpace and YouTube for posting their videos free of charge. In June of 2009, UMG and YouTube announced a new channel, utilizing the YouTube technical platform and portal. YouTube is the 4th most trafficked site in the U.S., but UMG has the great artists and videos. Smart move! Remember back in the 70s when mega-department stores decided to create the malls! By teaming up to put everything you need in one place, all of the retail stores benefit. What can you do to partner up with your competitors and create a win-win for everyone?

9. Dream bigger.
When John D. Rockefeller went into the oil business, in 1863, no one dreamed of freeways and that Exxon Mobil would be worth almost half a trillion dollars. When Google founders Sergey Brin and Larry Page began perfecting online search, most people were still on dial-up. When President John F. Kennedy promised to walk on the moon, it still took a week to mail a letter from New York to San Francisco. What great dream do you have? What can you do now to start on the path of creating it?

10. 21 days off the grid.
Stuck in a rut? Got a bad habit that is taking you out at the knees? 21 days is all you need to create new possibilities. Seven days is only a vacation from the status quo. Two weeks is a tease/tiptoe toward the edge of new ideas. 21 days is where new habits and thought patterns become ingrained. If you have never been on a 21-day sabbatical, there is no greater or more fun way to expand your possibilities and your thinking. In fact, I’ve created a 21-day Walk to Wealth Consciousness coaching call series, which is FREE for retreat attendees. Call 866.476.7442 to enact a new way of living for yourself!

So, sing your song… loudly. Dance as if everyone is watching. They are… (on Facebook. And Twitter. And YouTube. And BlogTalkRadio…) And become the rock star of your own dream life.

About Natalie Pace:
Natalie Pace, is the author of Put Your Money Where Your Heart Is and CEO of one of the most respected, independently owned financial news corporations in the U.S. She has been ranked as a #1 stock picker from TipsTraders.com.

Fresh Look at Mutual Funds

noreply@blogger.com (Everything Finance) — Thu, 10 Sep 2009 05:39:00 PDT

Mutual funds get a fair amount of attention on Wall Street and many investors love them. Before you jump in, it's important to first read up* and understand the basics.

What's a mutual fund by the way?
A mutual fund essentially is a pool of money managed by a team of professionals. The Fund Manager invests the money in stocks, bonds, short-term money-market instruments, other securities or assets, or some combination of these investments, while maintaining the objectives and risk tolerance.

What to like:

* Diversification – Fund managers spread the pooled money across many investments. This reduces the risk of losing all your money if one investment goes sour. Keep in mind that diversification does not assure a profit, or protect against loss, in a down market.
* Professional management – A real financial pro (or a team) decides when to buy and when to sell the securities held by the fund.
* Divisibility – Mutual funds allow investors to contribute round dollar amounts. This makes it easy to invest a little each month.

What to keep in mind:

* Investment minimums – No matter which mutual fund you select, all funds have an initial investment minimum. You might have to save up some cash to get started.
* Charges and expenses – Some funds charge a "load" or a "sales charge" when you buy or sell. Some charge an "early redemption fee" if you sell too soon. Be sure you understand all the costs before investing.
* Liquidity – Mutual funds only trade when their value is calculated, which is at the end of the day. This can limit how quickly you can act on market news.

No single investment is for everyone and only you can decide whether mutual funds are right for you.

via IngDirect

The Good and Evil of discount vouchers

noreply@blogger.com (Everything Finance) — Sat, 05 Sep 2009 05:46:00 PDT

There is a practice that is gaining increasing dominance in financial website circles recently owing to broke recession-suffering online shoppers looking for ways of saving money - discount vouchers.

We've all seen the boxes at the checkout step that tell you to put in a discount code. After putting in the appropriate code, the fee of the item drops by 10% or further. When they initially appeared, the discounts seemed genuine, but with voucher code websites everywhere, one has to wonder whether these discounts are just marketing gimmicks.

Lots of websites now publicise these promotional discount codes, allowing users to save on a plethora of branded goods and services, including fashion, financial services, books, CDs, DVDs, gifts, gadgets, travel, hotels, and restaurants. The offers range from a specific price to scaled percentage reductions to free delivery. Most websites also provide vouchers that you can print off and use to get discounts in high street shops, such as £20 in a popular clothing chain when you spend over a certain amount.

Most of the codes on the sites have been arranged directly with the retailers but some are meant for specific special customers and have somehow leaked on the internet. These are often surprisingly valuable. If you are buying online and are presented with the chance to put in a code, a good trick is to open up a new browser window and use a search engine to try and find a code. Then it’s something you were going to buy anyway, so it’s a real saving.

Recently, consumer aggregate 'Which?' investigated the five biggest voucher sites, and discovered that multitudes of discount codes were out of date or just didn't work. And scarily, they found out that sometimes standard price comparison sites or personal finance software sites can offer better deals than the discounts you get from the voucher codes. Some sites do put up a disclaimer saying that codes may expire, and invite you to register for email updates. Try registering with additional sites, because each negotiates its own "exclusive deals" that you (allegedly) won't see anywhere else.

Most of the chief players now subscribe to a new code of conduct introduced by the Internet Advertising Bureau (the internet marketing industries trade association) from 1 January this year, which has shrunk the fake discount problem. Some sites encourage users to click on a retailer's name and are then linked to their website, only to start that no discount code exists. The new honor code introduced by the IAB has banned the use of "click to reveal" features, when there isn't a real or up-to-date offer.

Over all, discount vouchers are a magnificent opportunity to save cash, but don't forget to scan the net to see if you can find a better deal somewhere else.

7 Key Benefits to Using Prepaid Debit Cards

noreply@blogger.com (Everything Finance) — Sun, 23 Aug 2009 07:39:00 PDT

Prepaid debit cards are similar to credit cards, but they require upfront collateral (cash) before you can use them. There are actually several benefits that come with using prepaid debit cards versus a traditional credit card.

1. Perfect for College Students

One of the easiest and most convenient ways to provide money for a student is with a prepaid debit card. You can set monthly limits that get reloaded at the end of the month, helping the student operate within the budget you specify.

2. Safer Than Carrying Cash

Like credit cards, if your prepaid debit card is stolen, you are protected. If someone takes your cash, you are not!

3. Helps You Better Manage Your Budget

Since a prepaid debit card isn’t a credit card, it won’t allow you to make purchases on credit. Thus forcing you to stay within your set budget.

4. No Credit Check or Application

A prepaid debit card, like the kind you can get from ACE Cash Express, uses upfront collateral, so there’s no need for credit checks, long applications to fill out, or the concern of being denied an account because of bad credit.

5. No Credit Card Bill

There’s never a credit card bill with a prepaid debit card, because it’s already been paid for. Prepaid credit cars help you only spend what you have.

6. Accepted Everywhere

Prepaid debit cards utilize either Visa or MasterCard, so they can be accepted by any merchant that supports those electronic payment networks.

7. Get Cash from any ATM

You can use a prepaid debit card at almost any ATM to withdraw cash.

Related Sources:
ACE Cash Express provides financial services, including payday loans, short-term consumer credit, check cashing, bill payment and prepaid debit card services

The Savings Experiment

noreply@blogger.com (Everything Finance) — Mon, 17 Aug 2009 22:36:00 PDT

Today I would like inform you about a new website called "The Savings Experiment". It is a part of AOL News and their main sponsor is Bank of America.

The Savings Experiment website features a weekly video that examines a common money-saving idea and determines whether the benefits are really there.

The Savings Experiment came about as a way to show consumers what things really cost, and where the real value is.

The first two videos debunked whether or not you can save money by making your own “fast food” tacos yourself (result: yes, sort of, but you’d end up making a whole batch of tacos vs. just making one), and whether homemade soda really makes good financial sense (result: it’s more trouble to make your own, but certainly cost-effective and more environmentally friendly).

The Savings Experiment is running 10 experiments to see what things really cost, and where the real value is.

Watch a new video each week, and get some extra cost-saving advice on the side.

This week the video is about how much money can you really save by unplugging all those electricity drains?

I feel that answering these type of questions via video is very valuable.
So please check back regularly with The Savings Experiment website. I know I will.

Pointers on Points

noreply@blogger.com (Everything Finance) — Fri, 14 Aug 2009 22:36:00 PDT

So you decided to take the leap and buy the split-level house you always wanted? That's great. If you can put down a big chunk (20% plus), even better. You'll lower your interest rate and monthly payments and be that much closer to owning your home sooner. But what if you don't have the big down payment? Paying points is another way to potentially save.

Let's talk points:

* What is a "Point"? A point (as in 1 percentage "point") is payment made on the interest of the total loan at closing and typically paid upfront by the buyer (sometimes the seller). So, 1% of $100,000 = $1,000. With us so far?

* When to pay them. Generally, points can lower the interest rate on your loan and save you some dough if you're planning to live in the house for 10 or 20 years. Less than 5 years? Probably not. Another plus? If it's a residential mortgage (new, not a refi), you can claim points at tax time. As always, make sure to consult your tax advisor for more information.

* And when not. Obviously, paying points will tack on more costs at closing time. If you don't have the money saved to pay for them, go with the rate you were offered. It can take over 5 years to break even if you purchase points at closing.

Bottom line? Figure out your breakeven "points." Look at the amount you pay and figure out how many years you'll need to come out even. And make sure to talk to your lender or check out a good mortgage calculator online. Good luck and don't forget to grab the new garage door opener at settlement. That's one of the best parts.

Source: INGDirect

Choosing the Right Broker

noreply@blogger.com (Everything Finance) — Sun, 09 Aug 2009 22:38:00 PDT

How to find the right broker for you? Let's rule out the dartboard, first off. We can narrow your search to just 6 tasks that will help evaluate your needs – and decide which broker fits best.

* Evaluate your needs

Investing experience – Beginner, pro, or in-between? The answer tells you whether you'll need educational support (most beginners do) or more complex tools or trading choices (some pros do).
Amount to invest – Starting with $100 or $10,000? Do you plan to continue investing regularly, or invest lump sums when you have them? These answers indicate whether you'll eliminate some brokers for investment minimums.
Investing strategy – Watch the market closely and immediately jump on opportunities? Or invest slowly and steadily over time? The first requires real-time trading (buy/sell right now); the second can use dollar-based investing (more on that later).

* Evaluate brokers

Services offered – Poke around their educational resources, take demos, try out their tools, look for the investment types you want (stocks, mutual funds, exchange-traded funds [ETFs], options, margin trades), etc.
Trading method – Are you a do-it-yourselfer when placing trades (immediately online) or a do-it-for-me person (call or tell your broker in person to handle it)? What does the brokerage specialize in?
All the costs – Brokers rarely have just one. Check the transaction cost (how much to buy or sell an investment), inactivity fee, maintenance/account fee, and add-on charges (investment advice, phone trades, advanced tools, etc.).

Once you decide on a broker, open an account and get started right away. Keep in mind, you're not stuck with your choice. If your needs change or your broker isn't all you'd expected, take your investments elsewhere. Just not to the dartboard. After all, they're your investments.

New Learners for the New Economy By Kirsten Olson

noreply@blogger.com (Everything Finance) — Tue, 04 Aug 2009 08:55:20 PDT

While things are looking a little brighter, the economy still seems to be in a bit of free fall. (Except if you're at Goldman Sachs.)

If you aren't looking for work yourself, you know someone who is searching for a job, who just graduated, or is tuning up their skills so they don't get permanently furloughed or downsized. What qualities do you need as a learner to adapt to our new economy? What learning attributes do employers seek in the flatter, fragmented, and constantly changing workplace? Based on a book I just wrote, it's clear many of the ways we were taught to be learners in school are directly in contrast to the qualities we need in today's economy and job market.

Below are twelve critical "habitudes" of learners in the new economy. These habits and attitudes are critical to adapting to our new information-overload economy, thriving amidst constant change, and allowing you to enjoy your work more. Moving out of the old ruts of learning -- that it is boring, and that someone else is in charge -- will help you grow personally, expand your skills much more rapidly, and allow you to experience greater pleasure in your work. And seeing what you do as pleasure is perhaps your greatest asset you can bring to any potential employer.

New learners for the new economy . . .

Are highly adaptive. They are able to see where opportunity lies and network to it. Perhaps you were hired for program development, but that market is withering. As a new learner, you are strategically attuned to the signals your sector offers, and are able grow your skills and experiences toward new opportunities. Where is opportunity right now in your sector? Where will it be in a year? If you a job seeker, in interviews be ready to talk in about how you adapted to workplace or educational change, and provide examples. Then, when you get that job, be that adaptive person you described.
Ask great questions. Powerful learners ask lots of questions. After that, they pause, and listen carefully and deeply to answers.
Are curious about everything. Folks who do not take advantage of new ways to understand their businesses or their work, through blogs, online newspapers, newsfeeds, wikis, Googlereaders, are missing important opportunities. Great learners are very self propelled and entrepreneurial about their learning, and have lots of "learning projects" going all the time. Read avidly about your business or market sector. In fact, read avidly. As much as you can, whenever you can.
Have a broad knowledge base that they are always expanding. (See above.) Although many of us are pushed to specialize in our jobs, new learners for the new economy are also broad thinkers. They have interest in lots of different knowledge domains.
Are good at seeing patterns. As you sort through mountains of information available all the time, what patterns do you see? What sources are reliable? Why? And how can you synthesize? One of your most valuable attributes as a new learner is your ability to "see" the underlying patterns in information, workflows, organizational crises, and synthesize. Look for ways you can organize and see patterns in information.
Are team players who share what they know willingly and generously. New learners for the new economy lead horizontally, through influence, not competitive moves, backstabbing, or out maneuvering others. As a learner this means not hoarding what you know, but offering up knowledge to others and collaborating around tough problems. You really are a better learner and thinker when you work with others, and your own influence only grows through right-spirited cooperation.
Are a glass-half-full resource managers. The New York Times recently reported that the University of Washington's department of communications decided eliminate landline telephones. "We found a way of saving money that doesn't hurt the student experience, and I think everybody's happy," said the communications department chair. Landlines, the department concluded, were an old fashioned technology that weren't needed anymore. Can you figure out how to survive -- and thrive -- on less? We are on the forefront of a massive shift in American life, where we consume less, own fewer things, and do more for ourselves. New learners for the new economy consume less, and manage resources very carefully, not just because it saves money, but because it is the right thing to do.
Understand that every contact matters. Great learners are tutored by everyone. From the man you give a dollar to on the street on the way to work, to the president of the company whom you meet in the elevator, every time you interact with another human being you are learning. Every encounter is a learning moment. You embrace this.
Know that hierarchy doesn't matter. The old command and control ways of managing the world are being disrupted and disordered, even as this upsets folks who love hierarchy and the old rules. The new reality is influence comes from everywhere, and success and profitability can be found from virtually ANY position. Like #8 above, new learners for the new economy believe this and live it in their actions at work. If you answer phones, are you putting every bit of yourself into it? Are you learning all you can from every phone interaction? Every position matters; everything you do matters.
Are choiceful about how they socialize. Where are you linked in? How do you spend your time? Who influences what you think? Great learner-employees are choiceful about their social contacts and habits, because they know this affects their learning. Take your influences seriously.
Own mistakes and are error alchemists. New research tells us we actually learn more from our mistakes than our successes. Successful new learners are good at owning their mistakes, admitting errors, and fluent at figuring out what valuable lessons they contain. No matter how painful, practice seeing your screw ups as opportunities. Turn lead into gold.
See learning as pleasure. It is! There is almost nothing more exciting than the adventure of a new learning project. Live this adventure. This alone will make you a vital, energetic, standout employee.

Finally, here's the great thing. Probably almost everything you've been doing since you were a kid, playing online games, IMing, Facebooking, and Tweeting will help you be the employee you need to be. Enthusiastic, engaged, cooperative, self-propelled learners are now more than ever highly valued employees. They are the new learners we need. Enjoy.

Author Bio
Kirsten Olson, author of Wounded by School: Recapturing the Joy in Learning and Standing Up to Old School Culture, is a writer, educational consultant, and national-level Courage To Teach facilitator, and principal of Old Sow Consulting. She has been a consultant to the Bill and Melinda Gates Foundation, the Kennedy School at Harvard University, and many large public school systems and charter schools.

Getting the best home insurance deal

noreply@blogger.com (Everything Finance) — Thu, 06 Aug 2009 08:58:41 PDT

Home insurance is one of the most important kinds of insurance that a family or individual can purchase. Because of the many disasters that can face a home, it is essential to have several different kinds of insurance on your home. Many people do not know their options for getting the best home insurance deal. However, with a few simple tricks and a little bit of shopping around it is possible to find the cheapest price for home insurance.

Know your area
It is important to know the area in which you want to get insurance. Some areas have higher insurance prices just because the homes are valued more or the homes are in a higher crime area. Areas with higher natural disaster ratings will also be more expensive. This is something that should be examined before any property is purchased. If you know the average pricing for insurance in your area then you will be able to make a more informed decision on what price for home insurance is a good deal.

Consider common disasters
Some insurance companies may try to offer services that you do not need for your home. If you do not live in an area that floods, then you do not need flood insurance. It is always a good idea to have home and contents insurance that covers the contents from robbery and fire. If you live in an area prone to hurricanes or tornadoes then it is also a good idea to make sure you are covered for those disasters.

Examine policies
Different home insurance companies will offer slightly different policies. The difference in these policies can make the difference in price between two companies. Always examine the policies to make sure you are covered for necessary categories. One way to save money on home insurance is to choose a plan with a higher deductible. Then put some money into ISAs to cover the cost of the deductible if you have a disaster at your home. This way the money will be working for you.

Ask for discounts
Getting a great deal on home insurance requires courage. Ask each company what discounts they offer. Some companies offer discounts if you have additional insurance with that company, if you are over a certain age, or if you have a certain kind of home. The discount savings can really make a difference in the cost of home insurance.