Go back to school

Furthering your education is a great way of improving your employment prospects. Economic downturns are normally a boom for educational institutions as job applicants return to school to get a competitive advantage. Have you been meaning to finish your undergraduate studies? Have you been thinking about getting a graduate degree to increase your chances of finding a management position? There are a number of schools that offer distance education classes for your busy schedule. Some of the more popular online schools include University of Phoenix, DeVry University, and Strayer University. It’s important to check the accreditation of each institution and make sure that they offer the major you are seeking. If you can’t pay cash for the higher education, make sure you weigh the cost of the degree versus the value it will bring to you in the job marketplace. Don’t just get a degree to get a degree. Do your research and make sure it will translate into a higher salary in a job industry you want to be in.

Complete a certification program.

Let’s assume you would like to work in a company’s IT department. You could become a Microsoft Certified Professional. This certification can be used to work as a software engineer, network administrator, IT technician or in any IT related field. Cisco, Apple, and IBM all offer similar certification programs that could help in your career path. There are certifications in just about any field including accounting, education, finance, law, security, and technology. Professional certifications offer an assurance to employers that you are qualified to perform certain job duties and tasks. Certifications help you stand out from the cesspool of job applicants that you’ll be competing against.

Improve your skills

Learning a new skill is always a worthwhile endeavor, and it can lead to job offers or job promotion. Just about any employee can benefit from improving their communication skills. Or you could increase your technical skills by learning a new computer language.  For example, an individual seeking employment as a computer programmer may find it beneficial to learn how to write code using C++, Java or PHP. You could improve your computer skills by taking classes at your local college. Becoming proficient in document, spreadsheet, and database management will look good on your resume as well and help out no matter what industry you want to work in.

Work for free.

Are you having a difficult time getting a company to hire you for a particular position because of a lack of job experience? If so, why not volunteer? If you can afford to do it financially, take an internship or volunteer position. Think of a volunteer position as an opportunity to get your foot in the door. This is one of the best ways to get the inside track to a job.  Not only are you gaining valuable knowledge and experience, but you are making lifelong contacts. Most companies hire from the inside which makes it very possible that a volunteer position could end up turning into full-time employment.

Practice Your Interview Skills

With so many employees entering the job market, more employers are using telephone interviews to sift through potential candidates. Surviving the phone interview is the first step to securing a face-to-face interview.

4 quick tips for the phone interview:

1. Dress up. I know it seems pointless, but most people speak differently based on what they are wearing. Dressing professionally will help you talk more appropriately.
2. Pay attention. Be energetic and enthusiastic. Listen closely. Respond without cutting off the interviewer. You can gauge if an interviewer is losing interest in you as a candidate. Listen for words like “great” and “uh-huh”.
3. Be proactive.  Be prepared with answers to potential interview questions. Always answer questions with action words such as can, have, and will. Make a list of questions about the job that you would like to ask the interviewer.
4. Practice. There may be companies that contact you about a position that you’re not excited about. Even if you know you’ll never take the job, still take advantage of the opportunity to interview and hone your skills. This will really come in handy for that interview you do really care about. Also, if you have a family member or friend willing to help out, have them give you a mock interview.

I know that finding a job in this economy is not the easiest thing in the world. But with persistence, dedication, and hard work you can improve your chances of finding employment. What other tips do you have that could increase a job seeker’s chances for finding employment?Related Posts:

• Making The Transition From One Career To Another
• Scoring Big On A Job Interview
• Strategically Invest In Yourself to Build Personal Wealth
• Be Prepared For The Pre-Screen Phone Interview
• A Great Post About Ways To Make College Affordable

5 Ways To Make Yourself More Marketable In The Job Market is a post from: Money Crashers

Shoo, Jimmy Choo! is geared toward women between the ages of 20 and 40, but no matter what your age is, you will certainly get something out of it. I’m planning to pass my copy on to my 18 year-old daughter. “Taming your financial demons” can be done at any age, but the sooner the better. Hill will help get you started with “style, diet and fitness… for your finances.” She takes each and expands upon them in four sections.

Part One: She gives an introduction to financial fitness and gives you the opportunity to learn about your financial situation with assignments such as these: taking a snapshot of your finances, finding out your credit and FICO scores, gathering all your financial documents, and organizing them and setting financial goals.

Part Two: Spending Style helps you define your spending style and what drives your spending habits. Hill includes examples of superfluous spending and how just one $4 latte a week can cost you more than you may be willing to spend. Ultimately, she is out to help you accomplish a spending makeover through two steps:

“Step 1: Track the Trends
Identify your spending style.
Tackle your spending triggers.

Step 2: Blow Out Your Budget
Create a spending plan that works for you.
Learn how to stick to your spending plan.”

Part Three: Debt Diet is targeted at getting you out of debt. “You are going to dig yourself out of debt, especially high-interest debt,” says Hill. Her “Debt Diet” focuses on the three types of debt that harass women most often: credit cards, student loans, and auto loans. For those of you like me, who might be past the student loan stage and are facing mortgage debt, she addresses us as well.  When you first step on the “debt scale,” as Hill calls it, you may feel a bit overwhelmed. But, face it head on ladies and learn just how much you do owe.  After the initial horror wears off, Hill will then get you on track to designing a debt diet specifically for you. She also exposes some of the debt lies we’ve been told over the years.

Part Four: In Financial Fitness, Hill first discusses what it means to be financially fit. “It means you’re making smart financial decisions that will set you up for a rich—in every meaning of the word—life down the road.”  She then outlines a financial fitness routine that includes making savvy career choices, investing wisely, building savings, getting insured, purchasing a home, taking charge of your taxes, and finally, if you have a partner, getting your joint finances in shape.

Hill’s writing style makes learning about and fixing your finances just as appealing as that new novel you’ve been dying to read. Take my advice and get a copy of Shoo, Jimmy Choo! first. You won’t be sorry.  Grab your copy at www.ShooJimmyChoo.com.Related Posts:

• Five Steps To Getting and Staying Out of Debt (Step 1)
• Setting Financial Goals: Set Realistic Goals
• Marriage and Money: Men and Women Have Different Financial Wants and Needs
• Mint.com Launches Automated Financial Advice Feature
• Get Financially Fit in 2010: Trim Away Your Debt

Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less & Saving More is a post from: Money Crashers

The reasoning behind this approach is pretty simple: when you no longer have to allocate a set amount of money for debt repayments each month, you’ll have more money to use for funding your retirement, and you don’t have split priorities to carefully juggle. If you’ve only got so much money to spare once you’ve met your essential monthly bills and budgeted for semi-regular and occasional expenses, dividing what’s left between retirement funds and paying off debts can mean that there’s not much going in either fund. As far as your debts go, you’re extending the time that it’ll take to fully pay them off and as a result, you’ll be paying more interest. It’s not uncommon for credit cards to have interest rates of 18% or higher, which is obviously a big expense on top of the actual debt that you’ve racked up. 

Even if you don’t have credit card debts, you may have student loans, car loans, or home equity loans. The interest rates on these may not be as high as on credit cards, but it still makes sense to get them paid off as soon as you can and free up your monthly income. Your monthly income is your most important weapon to help you build wealth, and you can’t save aggressively for retirement if you’ve got thousands of dollars going out the door every month to a bunch of banks.

How about once your debt is payed off? Well, if a good portion of your income has been used to fund your debt repayments each month, then you’re used to this and won’t miss the money if it’s then used to fund your retirement savings instead. After all, that money hasn’t really been “your’s” for a while, because it’s been going straight to creditors, so adopting the mindset that it’s still not “your’s” now that you’re debt-free makes it easier to start building retirement savings as soon as possible.

Do you disagree? Do you have an argument for saving for retirement right away? We want to hear it. Related Posts:

• Five Steps to Getting and Staying Out of Debt (Step 3)
• Pay Off Debt AND Save For The Future At The Same Time
• Question From Money Crashers Reader: What Should I Pay Off First?
• Help A Reader: Should I Pay Off My Mortgage or Pay Off My Student Loans?
• The 11 Principles Series: Get Out of Debt and Stay Out of Debt

Opinion: Should You Save For Retirement or Pay Off Debt First? is a post from: Money Crashers

SmartyPig was created in 2008 as an online site to help individuals save money for a specific goal. Think of SmartyPig as an online piggybank that pays a high interest rate. You can save for anything on SmartyPig including a wedding, a vacation, or a down payment on a home.

SmartyPig defines itself as “a simple, smart and secure way to save for a specific goal.” The unique aspect of the site is that SmartyPig lets friends, family members, and other users contribute to your savings goal. You can also contribute to other people’s savings accounts to help them achieve their goals.

Examples
Imagine that you are trying to save $2,000 for a 70 inch flat-screen television, and you log into your SmartyPig account to find out that your friends have donated $200 towards your goal. Wouldn’t that put a smile on your face? SmartyPig lets you do the same thing for someone else. You can contribute money to help them reach their goal.

Let’s say you want to withdraw your $2,000 savings from SmartyPig. If you withdraw your savings out on a Macy’s gift card, SmartyPig will give you a cash boost of 12%. That’s a $240 dollar bonus on your account. See the full list of best-in-class retailers offering a cash boost. There are quite a few including Macy’s, Best Buy, Amazon.com, iTunes, KMart, and more.

Opening a SmartyPig account is as easy as 1-2-3.  Here’s how it works:

1. Complete the account application.
You need the following information to open an account:

• Driver’s license number or state issued ID
• Social security number
• Home address
• E-mail address
• Date of birth
• Phone number

2. Set up your savings goals.
You can save any amount from a minimum of $25 to a maximum of $250,000, for any purpose.

3. Fund your account.
You can fund your account with any existing checking or savings account. Just link your existing checking or savings account to your SmartyPig account.

SmartyPig’s Key Features

• Gives you the ability to set up as many personal and family goals as you want.
• Offers a variety of options to achieve your goals.
• Allows you to add additional money to your goal at any time.
• Share your goals with your family and friends.
• Provides tracking tools that let you check your savings progress.
• Enables you to consolidate your savings account to one place.
• Funds can be redeemed via a debit card, bank account transfer or placed on a retail card.
• Access your account anywhere, anytime using your cell phone.
• Savings account can be integrated into other money management sites.

Advantages

• Contributions can be made to other user’s accounts to help them meet their goals.
• Opening, funding, and withdrawing money from your SmartyPig account is always free.
• The interest rate is much higher than interest paid at traditional banks and many online banks. (APY is currently 2.01%)
• Interest is compounded daily which allows you to earn more money.
• Automatic contributions makes saving easier.
• Accounts are FDIC insured up to $250,000.
• Low minimum to open an account. (The account minimum is just $25).
• Earn an additional 12% if savings account money is transferred to a retail card.
• Tracking Account Visualizer takes the guesswork out of savings.
• Gift cards can be given to anyone that you would like to help start saving.

Disadvantages

• It costs 2.9% to make a contribution to another user’s account.
• Credit cards can be used to fund savings account contributions.
• A checking or savings account is needed to fund your SmartyPig account.

Background Information
SmartyPig is not a bank. All SmartyPig savings accounts are held at West Bank and insured by the FDIC up to $250,000 per account. Michael Ferrari and Jon Gaskell started SmartyPig so that individuals could automatically save for their goals and allow others to help them reach their goals.

Final Thoughts
I love the fact that SmartyPig lets you share information with other users about your goals. SmartyPig allows you to let your whole social network know about your goals using Facebook, MySpace, Twitter or email. Accountability makes it a lot more likely that you will stick to your financial goals. The extra support from other users should keep you motivated to reach your savings goals. SmartyPig is the only site that I am aware of that offers the ability for friends and family to contribute to your savings goals. The cash boost incentives are also nice for those people looking to save for a specific item that they can buy from one of SmartyPig’s preferred retail stores.

Overall, SmartyPig is a great product for those of you that want to set up specific savings goals and be transparent about it with your friends and family.

Related Posts:

• Organize Your Savings With The ING Direct Orange Savings Account
• Simplify Your Finances: Organize Your Accounts
• Updated Online Savings Account Rates
• Research Your Spending Habits To Create New Financial Goals
• My Financial Goals for 2007

SmartyPig Review – Savings Account Alternative with High Interest Rate is a post from: Money Crashers

The Tribune added that Groner’s behemoth donation was the result of a $180 stock purchase she made in 1935, which is now worth $7 million. The shares in Abbott Laboratories, where she worked as a secretary for over 43 years, spilt many times over a span of seven decades. Grace just kept reinvesting the dividends. Grace’s investing strategy of putting all of her financial eggs in one basket is not a strategy we would recommend, but in this case, it worked out very well for her.

The stock purchase turned out to be a good investment and she handled it wisely through the years, but the most interesting thing is how she lived and why she never felt the need to spend any of the money. She lived very frugally and felt no reason to live like her affluent neighbors. She kept a small apartment for years until a friend willed her a home in the neighborhood of Lake Forest, once reserved for servants. The one-bedroom house contained only the essentials, a few pieces of furniture and kitchenware. Rather than buying a car, she walked to work. Her clothes were bought from garage sales and thrift stores.

Grace lived through the Great Depression and was very restrained with her finances, similar to many others who went through this devastating time. She was a kind and caring lady with a great sensitivity to those in need whom she would help with small gifts, according to Pastor Kent Kinney. She helped many people over her lifetime and will continue posthumously to help many more young students realize their educational dreams.

“The foundation’s millions should generate more than $300,000 a year for the college, enabling dozens more students to travel and pursue internships. Many probably wouldn’t be able to pursue those opportunities without a scholarship: 75 percent of the student body receives financial aid,” said Stephen Schutt, Lake Forest College President.

While we all can’t be a Grace Groner or want to live such a restrictive financial lifestyle as she did, we can take a lesson from this—the importance of giving. But you may be saying. “I’m barely squeaking by myself, how am I supposed to help anyone else?” It is possible to give on a budget, you just have to plan for giving and work it in. It doesn’t matter how much you give, just plan to give a certain amount each month. Whether it is $10, $20, $500 or buying stock and planning your estate like Grace did, you can help someone who has nothing or just needs a little help.

Giving increases our emotional wealth, and it can even increase it financially. I’ve always tried to work giving into my financial plan. I’ve even experienced the joys of being on the receiving end; at a time when I was in my darkest financial hour, on my own with two small children and suffering from an illness that kept me from work, a man heard of my story and gave me enough money to get back on my feet. I will never forget him and his example of selfless giving.  No matter the reason behind your giving, just give what you can and watch the seeds of your effort grow just as Grace Groner did.Related Posts:

• A Great Post About Ways To Make College Affordable
• The 11 Principles Series: Give, Give, and Give Some More
• Giving is An Essential Part of Accumulating Wealth
• College: A big decision
• Give Teenagers An Incentive To Save Money

How to Fit “Giving” into Your Budget is a post from: Money Crashers

Personal Finance Blog Round Up

Living Like No One Else. If you spend less money than you make and live below your means, then you can live the rest of your life like no one else can. Delaying your wants today can lead to big rewards tomorrow. [Get Rich Slowly]

Preparing For A Long Decline. Great tips for navigating a new economic landscape with higher unemployment and a decline in standard of living. [The Simple Dollar]

20 More Income Generating Ideas. The readers of the site have submitted 20 ideas to make some extra cash. I found some of the ideas to be pretty original. These are a few of my favorite ideas from the site: tutoring, notary public, recycling, and temporary waste management company. [Bible Money Matters]

5 Tips To Acing An Interview. An especially useful article during these economic times when so many people are seeking employment. These tips will really benefit you on your next job interview. [Wisebread]

5 Lessons From My Encounter With A Financial Advisor. An interesting article about the importance of being prepared when meeting with a financial advisor. [Personal Finance Journey]

Encouraging Family And Friends To Improve Their Finances. I am a big proponent of financial empowerment and this post teaches how to deal with a very delicate subject (helping your friends and family members become more financially responsible). [Five Cent Nickel]

28 Tips To Save Money On Car Expenses And Save Thousands of Dollars. I think that anyone can benefit from this article. It teaches about how our cars are making us poor. You can save money on new car purchases, repairs, insurance, and gas. [Generation X Finance]

Don’t forget to Follow Us On Twitter and Become Our Fan on Facebook!Related Posts:

• Best Of Personal Finance Bloggers for Week of August 24th
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• Personal Finance Round-Up: What To Do When Your Friends Ask You For Financial Advice
• Are You Financially Preparing to Live to be 100 years old?

Personal Finance Round-Up: Living Like No One Else is a post from: Money Crashers

Dinner Dates

Eating out can make a big dent in your budget, but you don’t have to spend a fortune to enjoy good food and drink. Here are some tips for taking your date out for drinks or a meal without spending a fortune:

• Happy Hours: Look for restaurants and bars that have “happy hour” deals. If you time your date to coincide with one of these, drinks and meals tend to be half-price, so you can enjoy some good savings on your food and drink. If money or time is tight, you can often get a couple of drinks and food each for around $20. For example, McCormick & Schmick’s, a popular seafood restaurant chain, has $2.95 burger and fries during its Happy Hour and it’s a ton of food!
• Wine Tasting: This can work well if you both enjoy drinking wine. For something in the region of $5 each, most wineries will let you sample up to five different wines. Some wineries even offer free wine tasting sessions.
• Candlelit Dinners: If you’d rather stay in, why not cook a romantic dinner for your date? Most of us can cook at least one dish, even if it isn’t anything particularly fancy. Add a touch of extra romance with candles and soft music.
• Picnic in the Park: If you and your partner enjoy the outdoors, taking your date for a picnic in the nearest park can be really romantic and can be relatively cheap too. If you stick to simple snacks like sandwiches or cheese and crackers, you can keep the costs down. If you want to spice things up more, try introducing a bottle of inexpensive wine or a bottle of something non-alcoholic. If you live near a beach or can travel to one, this idea can become even more romantic.

Other Date Ideas

Because you won’t always want a date to revolve around food, here are a couple of alternative date ideas:

• Local Music Shows: Most big or medium-sized cities will have a local music scene that can be tapped into for dates. Because the artists will not be well-known, show tickets can be bought for as little as $5 each, and if they go on to become stars, you’ve got the added bonus of being able to say that you saw them before they were famous!
• Museums and Galleries: Visiting a museum isn’t everyone’s idea of a great date, but it’s a good option if you both enjoy culture. Many museums have free or inexpensive entry, but you’ll have to pay to get into others. Sites like MuseumStuff can help you locate museums that are local to you. If art is more your thing, try an art gallery instead.

Dating can become expensive, especially if you’re going on regular dates to feel your way into a new relationship, but that doesn’t mean that you can’t work it into your budget if you’re selective about the type of activities that you choose as the basis for your dates. It’s likely that you’ll have to make some compromises to avoid overspending, but this doesn’t need to stop you from having a great date. Let us know your tips for dating on a budget!

(photo credit: Kristian Gimring)Related Posts:

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• 8 Ideas to Minimize the Cost of your Christmas Dinner
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• The Top 10 Gift Cards To Buy For The Holidays
• Personal Finance Round-Up: Have a Happy Valentine’s Day on a Budget

How to Go on Dates for Less is a post from: Money Crashers

Before I get into great detail, let me provide a bit of background information. For years, I was insured through Allstate. They offered great customer service as well as a local agent who I grew to trust. That being said, at the end of 2009 I began to strongly consider making a change. This was driven by one thing and one thing only: saving money.

Below are the steps I took to not only save on auto insurance, but to also receive better coverage:

1. I studied my policy to determine what I liked, what I disliked, how much I was paying, and what needed to change. You won’t be able to buy a better policy if you don’t know what you have right now.

2. I used the internet to obtain five to seven auto insurance quotes. There are two ways you can do this:

• Visit the individual site of every auto insurance company. The main benefit of this is that you can learn about the finer details of each provider, while also becoming more comfortable with what you are being offered.

• Fill out one form on a third party site to receive several quotes. This is a great way to save time, but you may feel a bit of “disconnect” at first. In other words, when you start, you are not dealing direct with the insurance company. To make up for this lack of personal attention, rely on a trusted source such as 2Insure4Less.com, AutoInsuranceLive.com, or InsuranceQuotes.com.

3.  I compared and considered each and every policy. Although I knew that some policies were not for me, I still gave them strong consideration. Comparing auto insurance quotes is a long process. If you take your time and move methodically through the task, you will end up with several policies that could work for you.

4. I made my decision based on two factors: cost and coverage. As noted above, I really wanted to save money on my auto insurance policy. Even though this was my main motivation, I knew that I couldn’t afford to settle for less coverage. This is the most important step in the process, but it’s one that should not stump you. It is very easy to see which policies you can afford and which ones are out of your league.

So, which company did I end up buying from? In the end, I found that Geico offered the best deal. In addition to saving $50 per month, I was able to receive the same coverage that Allstate was offering plus a little bit more (rental car coverage). In my eyes, the only thing I gave up was a local agent. While this was a bit of a change, I still don’t see it as that big of a deal.

If you want to save on auto insurance, follow the steps above. Do you have anything else to add? Is there anything I could have done better?

(photo credit: colros)Related Posts:

• Shop Online to Save Money on Auto Insurance
• Should You Buy Liability Umbrella Insurance?
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• Insure Your Valuables Separately On Your Homeowner’s Insurance
• Four Types of Insurance You MUST Have At All Times

How I Saved $50 Per Month on Auto Insurance is a post from: Money Crashers

Dave Ramsey

Dave Ramsey is the author of numerous books and hosts a nationally syndicated radio show and a financial program on Fox Business. He has an “in your face” style of teaching, and many people tend to reject his teachings because they’re so different than what you normally hear from personal finance gurus. His personal finance advice has a common sense approach, and many people criticize him for that, but even though his advice is considered “common sense,” statistics show that the majority of Americans still aren’t following the common sense approach to personal finance. In his book, “The Total Money Makeover”, Dave Ramsey outlines his financial plan called, The Seven Baby Steps.

The Seven Baby Steps

1. Start with a $1,000 emergency fund.

The emergency fund is designed to keep you from relying on debt to deal with any financial emergencies that occur. Dave states that unexpected results are not only likely to happen, but will definitely occur.

2. Pay off all debts using the Debt Snowball.

The debt snowball is a strategy of paying your smallest debts first. Accounts with smaller balances are paid before larger balances regardless of the interest rate. The reasoning behind this is that paying off smaller balances gives the debtor a sense of accomplishment and builds momentum towards paying off larger debts.

3. Place 3 to 6 months worth of living expenses in your savings account.

Once you have all of your debts paid off, you should increase your emergency savings to cover living expenses in case of job loss or illness.

4. Invest 15% of household income into Roth IRA’s and pre-tax retirement plans.

This is the wealth building part of Dave’s plan. All of the money saved using these plans is designed to be used strictly for retirement.

5.  Begin college funding for children’s education.

Start saving today for your child’s education. Dave recommends saving for college using Education Savings Accounts and 529 plans.

6. Pay off the mortgage on the house.

This is the largest debt that you will ever have in your lifetime, which makes it the last debt to pay off.  All of your extra income should go towards your mortgage principal and paying off your home loan as soon as possible.

7. Build wealth and give to charitable organizations.

Save for your heirs and contribute to your favorite charities so that you can leave a legacy for your kids and others.

These seven steps are the cornerstone to what Ramsey teaches, and he never deviates from these steps. You can always count on Ramsey to be consistent with what he preaches, and he lives a life that backs up what he teaches.

Suze Orman

Suze Orman has authored six best-selling books and hosts a financial program on CNBC. Orman also takes a common sense approach to personal finance, and she is often criticized for oversimplifying someone’s financial situation. Her philosophy and teachings are much different than Ramsey, because unlike Ramsey, she will not denounce the use of credit cards or other personal loans the way he does. In her book, “Suze Orman’s 2009 Action Plan,” she illustrates The 9 Small Financial Steps That Will Pay Off Big In The Future.

The 9 Small Financial Steps That Will Pay Off Big in the Future

1. Save a bit at a time.

Suze recommends building your emergency savings account by saving money a little at a time.

2. Have a little self discipline!

Eliminate non-necessity spending from your budget. Look through your bank and credit card statements and eliminate any unnecessary spending.

3. Automate your plan.

Make saving for your emergency fund, retirement plan, and savings account automatic. Regularly scheduled transfers can make saving money and paying bills a breeze.

4. Max out on the company’s match.

Suze suggests contributing enough to your 401(k) to receive the maximum amount of matching funds from your company. Not doing this is the same as turning down free money.

5. Invest in a Roth IRA.

Suze recommends that you create a Roth IRA for the tax-free income growth. For more information on Roth IRA’s, read my article on What is a Roth IRA – Benefits and Restrictions.

6. Subtract your age from 100 and put that much in stocks.

The percentage that you should invest in stocks is your age subtracted from 100. The rest should be invested in bonds.  The stock portion should be broken down with 70 percent in U.S. stocks and the rest in international funds.

7. Spend $50 a month for peace of mind.

$50 a month will buy you a term life insurance policy which should give you and your family peace of mind.

8. Create the four most loving documents in existence.

Every person should have a revocable living trust, will, power of attorney for finances, and power of attorney for healthcare.

9. Add a 13th mortgage payment.

Making one extra mortgage payment a year will take five years off of the length of your mortgage.

Review of Dave Ramsey and Suze Orman

I personally prefer Dave Ramsey to Suze Orman, because I think Dave’s method of getting out of debt works faster. Although Suze is the more entertaining of the two, her plan teaches debt management whereas Dave’s plan teaches debt elimination. Dave Ramsey has a solid “no nonsense” approach to getting out of debt. The Seven Baby Steps are straight forward and will have you living debt-free in a matter of years. You would actually save more money by paying down your highest interest debt first, rather than the smallest balance, but I see where Dave is coming from. He wants to keep people motivated to pay off their bills.

Suze Orman offers a financial plan that covers everything from spending habits to investing for retirement. Suze deals with psychological and emotional roadblocks that keep you from building wealth. Her plan is most beneficial to individuals seeking to reduce debt and build a nest egg simultaneously. Both of them are very popular, but Orman has a unique way of connecting with her guests.

My only issue with both Suze and Dave is that their advice can be too simplistic and generalized. A one-size-fits-all approach may work for some clothing items, but not for financial advice. Everyone’s situation is different and the same financial plan will not work for everyone. Even still, Dave and Suze’s plans are a good starting point for someone just learning about personal finance.

Who do you prefer: Dave or Suze?

(photo credit: meddygarnet)Related Posts:

• An Analysis on the Seven Baby Steps for Obtaining Wealth by Dave Ramsey
• Analyzing the 75/25 Method As A Debt Reduction Plan
• The Best Personal Finance Books That You Need to Read
• Pay Off Debt AND Save For The Future At The Same Time
• Five Steps To Getting and Staying Out of Debt (Step 1)

Are You A Fan of Dave Ramsey or Suze Orman? is a post from: Money Crashers

Here are 4 tips that I try to follow:

• Pack lighter. This is one of the most important green travel tips, and with all of the airlines trying to nickel and dime us nowadays, you can literally save hundreds of dollars simply by packing lighter. Many airlines charge $50 for every checked bag that’s over 50 pounds, and many charge for additional checked baggage. Packing lighter helps the environment, because it makes the airplane, car, train, or bus lighter, which allows it to use less fuel and run more efficiently. Choose pieces of clothing that can be mixed and matched to create dozens of different outfits. Also, take less shoes and bring eBooks with you instead of real books.
• Bring a stainless steel water bottle with you. Choose a sturdy, stainless steel bottle that’s BPA free. You’ll save a lot of money on buying water bottles and you’ll use less plastic while on your trip.
• Choose an economy-sized rental car. I would say choose a hybrid, but most rental car companies that offer them will charge a much higher rate than a compact or economy car. If space is not an issue for you, go with their smallest model, because the car will get great gas mileage, and it will be their cheapest rate. You’ll save money on gas, the rental rate, and you’ll be helping out the environment.
• Buy snacks for your trip from your local farmer’s market. You’re supporting your local economy, and you’ll spend less on your food budget if you have some great snacks like peanuts, dried fruit, beefy jerky, and popcorn.
• Unplug all of your appliances, close your blinds, and turn the water off. Preparing your house for no one to be in it for a little while can be a huge money saver. Your house will spend much less energy if everything is unplugged and the water is turned off.

I love knowing that what I’m doing is helping to preserve God’s beautiful creation, but one of the best auxiliary benefits of traveling greener is that it helps you save money at the same time. Some of you all are so creative, and I know you’ve got some sweet ideas for green travel that saves you money. Let’s hear them!

( photo credit: ingridz ) Related Posts:

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4 Green Travel Tips That Save You Money is a post from: Money Crashers