Category Archives: Saving

Tips on Finding Easy Scholarships to Apply For

Going to college is not just about the grades one received while in high school. It’s also about the financial needs that a student will need to cater for. Since not everyone can afford college fees, it is advisable to look for college scholarships. Some have a challenging qualification process while others are simple and straight forward. The following is a little advice on how to find easy scholarships to apply for.

Requirements

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Getting the Best Deals When Grocery Shopping!

Regular grocery shoppers will notice that prices at their local stores seem to fluctuate almost randomly. Many will look into extreme couponing sites for good deals. A box of cereal that’s on super saver special for 99 cents one week might go up to $3.95 the next, then drop to $2.50, then pop back up to $3.15, then back down to $1.99. What you want to do is ensure that you never, ever have to purchase that box of cereal at that full $3.95 price. You want to buy it as often as possible at the 99-cent sale price—and you want to use a coupon when you do.

This requires a bit of planning, and being a bit of a cheapskate, and the secret here is that grocery store pricing tends to run on 12-week cycles. That is, almost every item in the store will hit its lowest price about once every three months or so and then will bounce around for the rest of the cycle. (Sometimes it’s a 10-week or a 14-week cycle, and sometimes there are seasonal variations, but most items follow these fairly regular price cycles.)

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Tackling the Money Conversation with Your Significant Other

Is no surprise to most consumers that the most common cause of arguments among married couples is money and finances. In fact, it’s been found through numerous studies that disagreements over money are the leading cause of divorce.

If you’re in a relationship and ready to take it to the next level (marriage, that is) it’s important to know what type of habits your soon-to-be spouse has, financially speaking. It doesn’t mean that you have to find someone that sees perfectly eye-to-eye with you on finances, because that’s very unlikely, but just that you find someone who’s close.

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Three Small Ways to Save Big

Being financially prudent doesn’t have to be complex. Rebalancing your portfolio or maximizing the contributions of your 401(k) are invaluable moves. But not everyone has the knowledge or the knack for careful investing and budgeting. That’s why Money is the Root exists: to help those in the know and teach those who don’t know. So, if you find big financial decisions daunting don’t despair. In fact, you can save more than you realize with simple everyday solutions:

1. Household      Shopping – Anyone who runs a home, whether alone or with their partner,      will be aware of how quickly one can get through household supplies.      Especially if children are part of said household. CRASH! There go the      paper towels you just purchased and, oh, if only you’d thought to buy an      extra bottle of the hardwood floor cleaner, it would sure come in handy      right about now. That’s why buying in bulk is usually the smart financial      move. Next time you’re at Walgreens make sure to opt for the multi-pack on offer and stock      up on peace of mind.

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How to get around the Roth IRA Income Limits

Most financial experts will tell you that a Roth IRA is one of the best retirement vehicles you can use. It does come with a number of challenges however, including limits that prevent some people from directly funding their Roth IRA account. If your income exceeds those limits the steps below will help you. Enjoy.

First, in order to open and directly fund your Roth IRA, including contributing fully to it, you need to have an annual income that’s less than $129,000 as a single person or, if you’re a married couple, hundred $91,000.

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What are Cash Balance Plans?

One of the most trusted and relied upon types of retirement plans is the 401(k), a plan offered by many businesses to their employees and, indeed, a retirement plan that people have been using for a long time years to fund their ‘golden years’ because of its low risk and high yield. That being said, there’s a pension plan that has been growing in popularity since the early 1980s that is slowly but surely overtaking the traditional 401(k) as a retirement plan option due to the fact that it’s easy to take from one job to the next, is a bit simpler as far as how it works and is a better option for someone who has gotten a late start on their retirement savings plan.

This plan is called a Cash Balance Plan or CB and it’s a hybrid pension plan that has been getting a lot of interest since about 2000. In fact, in the year 2000 there were approximately 1,300 CB plans and they held about $426 million in assets. That number had quintupled by 2010 when there were 7600 plans with a total value hovering just around $800 billion. The question that any retirement investor must ask then is why has the number of people participating in a number of CB plans grown so much in the last 10 years?

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Financial Tips for the Single Parent

Many of the blogs that we write here on our site are aimed at families and the financial situations that go with having them. The fact is however that, for many people in the United States, their family unit consists of only one parent. If that describes your family and financial situation then you’re in luck because this blog is specifically for you. (Frankly where surprised you found time to read this as busy as you must be.) Simply put, keeping your finances in order as a single parent is even more important for you and your children because you don’t have a spouse, and their income, to fall back on if you lose your job or have a sudden decrease in income. Setting up a single mom budget can prove to be very useful. With that in mind we’ve put together a smattering of excellent financial tips for you to use. We hope that it offers some valuable advice. Enjoy

More than likely the majority of your money is going towards housing, food, clothing and of course gasoline. One of the best ways to make sure that you aren’t overspending on any of these is to closely monitor and scrutinize your spending over a 1 to 3 month period. If you do this diligently you will get a lot of valuable information about where your money is going and where you can possibly cut back on spending and increase your savings.

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5 Financial Blunders you Should Avoid at all Costs

No matter who you are, what you do or how intelligent you are about money and finances almost all of us will make at least a couple of financial blunders in our lives. Most of these mistakes are simply due to lack of knowledge and experience but some of them, indeed the worst of them, are usually those that seem harmless at first glance. While we aren’t saying that the 5 financial blunders that we focus on below are the only ones that can be made they are probably the worst and thus should be avoided like the plague. And on that interesting note let’s get started. Enjoy.

  1. About 65% of Americans that were born during the ‘baby boomer’ years will receive an inheritance from a family member who has passed on. The median amount is $64,000.00 which is no small chunk of change. The mistake? Spending it all immediately on things that you might think are important or might think you need but actually don’t.

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Retirement Saving Tips for Married Couples

It is well known among financial experts that married couples who pool their retirement savings and coordinate their retirement plans will generally end up with a bigger retirement nest egg when the time comes to enjoy their ‘golden years’. That being said, there are many interesting vehicles for retirement that must be researched and decided on to find the best for you and your spouse. As you might have guessed, we put together a blog article chock full of retirement savings tips for married couples so that you will have a few ideas and some excellent information to use when planning. Enjoy.

If you have a smile on your face whenever you envision spending your retirement years happily with your spouse then you should take time today to sit down and talk about which retirement options will benefit you the best. Below are a number of questions that you should ask yourself and, if you don’t have the answers, find them. Continue reading

How to Save Money on College Costs

According to a recent “Trends in College Pricing”  study, the average tuition for students attending a four-year public university jumped nearly 12% in the last year, an increase that doesn’t even include food, clothing and other expenses that college students face. There is good news however in that there are many ways that you can save money on college costs. Even better news is that we’ve put together a blog for you, our dear readers that will outline all of those ways so that you too can save money on your college tuition and other college costs. With that in mind let’s get started. Enjoy.

There are a number of areas that you can save when shopping for the necessities of college, including; Continue reading