TheWebBlogZone

What do we all want when it comes to attaining and securing wealth? We want a sense of long-term security and the peace of mind that it brings including lifestyle and advantages to our family.

What do millionaires do that others don’t? They do not over consume. They are ready to sacrifice something today in order to achieve greater wealth and prosperity in the future.

Does this paint a good picture of who we are and what we want? This then leads me to say that money must be managed and if you spend more than you make, you surely are heading for trouble, that simple. So where to begin? Many people would say to make a budget and save money. However, in addition to that, I would suggest that prior to making a budget; you should set realistic and attainable goals. Once goals are set, you can then set a budget that will enable you to reach them whatever they are. Make sure that you write your goals down and put them up where you can see them every day.

To begin with, you should monitor your expenses over an entire month. This little exercise will give you the framework for your budget template. Ultimately, you want to reduce your debt load so you must put serious thoughts into curbing bad spending habits, differentiating between good and bad debts and establishing an emergency fund.

[Read the rest of this entry...]

Everyone wants to save money these days. Take some time to examine your monthly household bills. For example, look closely at your monthly electric bill. You may be able to save money by buying your electricity from a supplier other than your utility for a substantial savings.

Your electric bill is actually a composite of many charges associated with delivering electricity to your house. To simplify — you can lump all charges into three categories:

1. Supply charge. The electricity delivered to your house is either generated by your utility, purchased by your utility from another company, or is a combination of both internally generated and purchased electricity. That is your supply charge. Somewhere on your bill is your “price to compare” — given in cents per kilowatt-hour of electricity. It is the rate you are being charged just for electricity — sometimes referred to as “commodity charge.” Multiply your “price to compare” times the number of kilowatt-hours of electricity you use to determine your supply charge.
2. Fixed charges. Every month your utility charges you a fixed amount for being a customer. This amount does not vary depending on the amount of electricity you use. It covers the utility’s costs of maintaining you as customer, even if you used “zero” electricity. Your state may also impose a fixed tax on your bill, regardless of the amount of power you use.
3. Variable charges. All other charges on your bill vary depending upon how much electricity you use. For example, take your electric transmission and delivery charges. Your bill calculates this charge for you by multiplying the kilowatt-hours you used by the rate for electric transmission and delivery. Other charges are computed in the same way.

Here’s how you can save on your supply charge

Call your electric utility and ask if they offer supply choice. If they do, ask for a list of alternate suppliers and their rates that you can compare them with your own utility’s “price to compare.”

You may find that you are already getting the best deal. Or perhaps the savings will be so little that it’s not worth your while to contract with an alternate supplier.

If you do find that your savings justify switching to an alternative supplier, you’ll have to contact that supplier in order to sign up. Read the terms of the contract carefully. How long will the supplier guarantee this rate? What happens at the end of the contract period? If everything looks o.k. and your potential saving looks good, go ahead and sign up and save!

Take the time to dig into the rates you are being charged on your electric bill. Contact your local utility and explore your options. You can save money on your electric bill.

Install a whole-house electric feedback meter

You can easily and conveniently monitor the total power being used by everything in your house with a whole-house electric feedback meter. One particularly good inexpensive meter has a transponder that you place on your utility’s electric meter and a receiver that gives you the data you need to know in order to analyze power requirements of everything in your house.

Bad date last night? Don’t despair. It’s not as bad as you may think. Here’s some good news: you may not know it, but when it comes to your money, that bad date can teach you an awful lot about successful investing.

Think I’m joking? Think again. Although I was a far cry from being the King of Dating, I did have a few albeit rare lucky streaks in me. And looking back over those rare few times, my moderate success on the dating circuit did teach me quite a few things about prudent investing.

Here’s a few quick examples…

1) DON’T JUDGE A BOOK BY ITS COVER

Dating: The guy was over a half-hour late, his outdated shirt barely matched his Taco Bell stained pants, the rain gave him a lethal dose of bed-head and back then the busboy was making more than he was. If that wasn’t bad enough, his humor was a bit stale and the car he drove had a weird putter that attracted nothing but aliens from the evil Planet X. While at first the girl thought it was going to be a dinner date from fiery hell, little did she realize that guy was I, and I’d soon wind up being the one she’d marry.

Investing: The receptionist was sure nice, but the carpets were dull and the musty furniture reminded you of grandma’s place in Brooklyn. You were ready to take your money to that Private Wealth Management Firm — the one with the white marble staircase and baby grand — but when the well-mannered financial advisor appeared, you figured you’d be courteous and give him a few minutes of time. A little into his pitch, you were most pleasantly surprised when he touted low cost, tax efficient investments that perfectly matched your goals. It was then you realized there’s a reason the furniture in his place is a bit out-dated, mainly, because the guy isn’t touting the high fee investments.

Lesson Learned: First impressions can easily get the best of us. Whether it’s a date or your money, taking a step back to peek behind the curtain will typically put both your money and heart in a much better place.

2) COSTS COUNT

Dating: She liked Dylan Thomas, idolized Ginsberg, despised the conformists and was clinically depressed that she missed last year’s Monterey Pop Music Festival. The perfect 10 from down in the Village strummed an acoustic, wrote poetry and even donated your favorite Levis to a homeless guy on the street. While at first lust got the best of you, months after helping her pay the rent, her organic meals and for all those Warhol movies you pretended to like, you were finally worn out, leading you to realize that when it comes to dating, costs most definitely do count.

Investing: The mutual fund was barely moving. Five years into it, you just couldn’t quite figure out why you weren’t making much money. Then, one fine day, you wisely took the time to research the fees you were paying, only to realize the fund was charging you way too much per year in annual costs and causing you all sorts of taxes.

Lesson Learned: When it comes to investing and dating, costs most definitely do count. Taking the time to evaluate how much you’re paying for your dates and funds is an essential part of anyone’s success.

3) IT DOESN’T HAVE TO BE COMPLICATED FOR IT TO BE EFFECTIVE

[Read the rest of this entry...]

It’s obvious that the pension system is in dire straits and within the talks and discussion of concerns; many people are sharing ideas that could revamp & re-ignite the pension system.

Recent research found that only half the working population belong to an occupational pension scheme and that over 50% of employers offering a defined contribution plan found that the majority of their staff failed to even sign up for it, even when the employer is making a contribution. What is the turn off from pensions and what (if any) is the turn on?

Could the following idea be the ON switch?

There have been a number of blogs and reports talking about changing the pension rules to make pensions more useful to people throughout their working lives and not just in retirement. The idea is simple and has got a lot of people talking.

[Read the rest of this entry...]

Summer is quickly approaching and school will soon be out. Many families are trying to find an affordable vacation or decide if they can afford a vacation.

Just because our economy is slipping does not mean your family will have to go without a family vacation this year. Here are a few tips and ideas to get your family on the road again.

Walt Disney World is a great vacation spot, especially if your family has children. Vacation packages start for around $1,300 for a 4 day, 3 night stay. It equals to spending about $82.00 a day per person. There are other options and packages with more days and nights.

Cruise ships are also a very affordable way to take a vacation. Carnival cruise line has ships leaving Galveston. There are many options available. Vacationers have the option of choosing how many nights they want to cruise and what destinations and ports of call they want to visit. Many cruises start at around $300.00 per person and food is included with the price. There are many packages to choose from, so the best way to plan your cruise is to find a website and review all the options available.

[Read the rest of this entry...]