5 Easy Ways to Save and Build Wealth – Mortgage
5 Easy Ways to Save and Build Wealth
Cindy Morus
1. Pay off high-cost debt. The best investment most borrowers can make is to pay off consumer debt with double-digit interest rates. For example, if you have a $3,000 credit card balance at 19.8%, and you pay the required minimum balance of 2% of the balance or $15, whichever is greater, it will take 39 years to pay off the loan. And you will pay more than $10,000 in interest charges.
2. Buy a home and pay off the mortgage before you retire. The largest asset of most middle-income families is their home equity. Once these families have made their last mortgage payment, they have far lower housing expenses. They also have an asset that can be borrowed on in emergencies or converted into cash through sale of the home.
3. Participate in a work-related retirement program. Many employees turn down free money from their employer by not signing up for a work-related retirement program such as a 401k plan. If they did participate, with a dollar-for-dollar match they would likely receive an annual yield of greater than 100% on their investment.
4. Outside of work, save monthly through an automatic transfer from checking to savings. These savings will provide funds for emergencies, home purchase, school tuition, or even retirement. Almost all banking institutions will, on request, automatically transfer funds monthly from your checking account to a savings account, U.S. Savings Bond, or stock mutual fund. What you dont see, you will probably not miss.
5. Calculate your risk and return. If you earn 4% interest, your money will double in less than 15 years; at 7% it will double in about 10 years and at 10% it will double in 7%. Use Asset Allocation to reduce your overall risk.
About The Author
Cindy S. Morus www.phelps-creek.com is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer and Get Clients NOW!
How To Save Money When Traveling – Travel
How To Save Money When Traveling
Maria Estarellas
Do you know you can go on a 7-day cruise for half the price
Or visit Europe for 15 days for only $2,000 per person including airfare, hotels, car rental and meals
If you follow these steps, you can save more up to 50% in travel expenses.
1. Travel during low season.
Choosing to go on vacation during low season, will save you a great deal of money on airfare, hotels, cruises, car rental and more.
The best dates to travel are between:
February - May
September - the week before Thanksgiving
December 1 - 15
For example, a 7-day cruise in the Caribbean can cost around $1,000 during summer and winter but it can cost $495 in November.
A ticket to Europe can cost between $800-$1,200 during high season but you can buy it at $395 roundtrip during low season.
2. Hotels
The same applies to hotel rates.
When it comes to hotels, you should look for 3-star hotels that will offer most amenities you need at a lower price than 4 or more star hotels. You should keep in mind, that 3-star hotels are smaller, but you can find very good hotels for a great price.
Keep in mind that hotels that are very near local attractions will be more expensive than hotels located 2 or 3 blocks away.
3. Attractions and Places to Visit
Make a list of the places and attractions you want to visit and do some research. Find out about the schedules, locations, special events, etc. Youll find out that there are certain dates during the year that they will have discounts and even free admission.
4. Restaurants
Dont visit tourist-oriented restaurants.
Instead, ask locals to recommend family-owned or small restaurants. Not only will you pay less but the food, quality and service will be much better.
Two years ago, I visited Monaco, France and we went to a small restaurant on a side street and we only paid $100 for 4 people for appetizers, great pasta, drinks and dessert including tip. Not a bad price considering that Monaco is very expensive.
5. Metro vs. Taxi
In most places, there is a metro or train system which will be a lot cheaper than traveling by taxi. All you need to do is get a map and trace the route youre going to visit and find out the train or metro numbers you need to get on to.
By planning your vacation in advance, choosing the best dates to travel low season, doing research about places and attractions to visit, going to local restaurants versus tourist-oriented ones, and using the metro or train system instead of taxis, will save you a great deal of money and allow you to go on vacation at least twice a year.
About The Author
Maria Estarellas is the webmaster for http://meg2.citymaker.com. The Complete Website For The Whole Family
meg2@bspr.com
Affordable Insurance Quotes To Save You Money! – Legal
Affordable Insurance Quotes To Save You Money!
Mike Yeager
Whether youre looking for insurance quotes for auto, life, travel or health you can find some great rates on the internet. Insurance quotes coverage can provide peace of mind and also financial coverage in the event that something untoward happens.
Originally health insurance in the United States took the form of a voluntary program. Such programs date from about 1850, when health insurance was provided chiefly by cooperative mutual benefit and fraternal beneficiary associations. Insurance quotes can now be obtained online from the internet.
Insurance quotes for life insurance, originally conceived to protect a mans family when his death left them without income, has developed into a variety of policy plans. In a