What's Your Money Personality?By: Benjamin Gran
Everyone relates to money in different ways. The way we manage our financial lives is in a large part influenced by our upbringing, peers, friends, neighbors, socioeconomic and cultural backgrounds. The child of immigrants who grew up poor and worked his way through school is going to relate very differently to money than a wealthy person who inherited a vast fortune and never had to worry about where the next paycheck was coming from.
While it's true that much of a person's "money personality" is deeply rooted in his or her life experience, we all have a choice in how we live our financial lives and how we manage our money. If we have self-awareness of what money means to us - what we love, fear or avoid about money - we are more likely to make good financial choices and enjoy a healthier, wealthier life.
The Miser's money personality is primarily motivated by fear; the Miser is afraid of scarcity, or not having enough. She fears what might happen if
Blog Posts by Quizzle.com
- Quizzle.com | Financially Fit – Fri, Mar 4, 2011 6:48 PM EST
What's Your Money Personality?By: Benjamin GranRead More »from 4 Types of Money Personalities - Which One Are You?
- Quizzle.com | Work + Money – Thu, Mar 3, 2011 6:30 PM EST
Save Money on Your Home Loan; Lower Your Mortgage RateBy: David BunnellRead More »from Save Money on Your Largest Expense; How to Lower Your Mortgage Rate
If you're planning to buy a new home, there are a few things you can do to save yourself a bundle of money before even walking into your first open house. By positioning yourself to get the lowest interest rate on your home loan, you can save thousands of dollars over the life of the mortgage.
For example, if you're looking to purchase a home for $200,000 and you have $40,000 for a down payment, the difference between a 5 percent and 6 percent interest rate on a $160,000 mortgage ($200,000 purchase price minus $40,000 down payment) over 30 years is in the neighborhood of $35,000. With that in mind, here a few steps to a lower mortgage rate:
Improve your debt-to-income ratio.
Your debt-to-income (DTI) ratio is determined by dividing your gross monthly income by the amount of debt you are obligated to pay each month. These debts typically include items like auto loans and student loans. Credit card debt is also included, but only the minimum amount due each month is
- Quizzle.com | Work + Money – Wed, Mar 2, 2011 4:41 PM EST
Use Nest Egg for Retirement FundBy: Stephanie HamiltonRead More »from Take Advantage of an Empty Nest to Build Your Retirement Fund
Most parents agree that saving money and raising kids are hard goals to meet simultaneously. Money that might otherwise go toward retirement or paying down the mortgage is instead spent on clothes, extra-curricular activities and higher education for the children. Once kids are out of the house, parents have an opportunity to get their savings back on track, especially their retirement savings.
Unfortunately, few parents take advantage of their increased discretionary income in that way. According to a recent study by Boston College, "empty-nesters" increase their spending by an average of 51 percent in the first few years after kids leave the house. Though some eventually reign in their spending and begin saving more, many get used to the higher standard of living and never return to lower spending levels. This creates a two-fold problem: first, parents who fell behind in their retirement saving never "catch-up" and as a result are not able to retire as soon
- Quizzle.com | Work + Money – Tue, Mar 1, 2011 6:13 PM EST
Divorce and MoneyBy: Raine ParkerRead More »from Getting a Divorce? 5 Ways to Ensure It's Not a Financial Disaster
Although we never like to think or talk about it, divorce is an all too common occurrence to which no marriage is immune. If you are considering a divorce or are currently going through with one, emotions are probably running high and out-of-control. Of course, divorce is a devastating experience, but approaching it as level-headedly as possible will ensure that you don't make mistakes that could spell doom for your financial future. Here are a few tips:
1. Make a realistic budget and determine how your standard of living will change and what you can do to adjust to these changes.
It's pretty much unavoidable if you are getting a divorce and living separately - two households are more costly to maintain than one. As such, your standard of living will likely be negatively impacted after the divorce. If you aren't used to working with a family budget, work with a financial planner who specializes in divorce to determine how you will live afterwards and what you can do
By: Kate ParhamSave Money at the PumpRead More »from 3 Ways to Save Money on Gas
My last trip to the gas station cost me a whopping $55. I was in shock. That was until I read that the current national average is around $3.37 per gallon.
I know gas prices have been on the rise, but it seemed like one day I was paying $2.50 per gallon and the next more than $3. This is not good for morale (or my bank account), so I decided to do some research and see how we can save money on gasoline. Follow these three easy tips and you'll be on the path to riches - or at least a more fuel-friendly freeway.
"There's an app for that."
Technology never ceases to amaze me. Not only can we now unlock our cars using our Smartphones, but we can also find the cheapest gas station no matter where we are. Check out Cheap Gas! for iPhone to help you find the cheapest gasoline nearest you and even map a route to the cheapest station. Another great app for iPhone, Android and Windows phones is GasBuddy, brought to you by the popular website, GasBuddy.com, which provides gas
Lower Energy Costs with a Few Quick FixesBy: Kristie Lorette
Sure, you know when you own or buy a home that it is going to cost you money. You have the mortgage payment, insurance, utility bills and more. While most of these are expected expenses, what about the unexpected costs of home ownership? Or the costs, although expected, that are higher than you thought they would be?
One of the main wallet-draining culprits is energy, including heating and cooling, electricity and leaks. Find out what you can do to cut back on your spending in these areas, so your home does not cost you more than it should:
Heating and Cooling
About 50 percent of your energy costs are for heating and cooling your home, according to the U.S. Department of Energy. One of the primary ways to keep these costs under control is to maintain a constant temperature. You can accomplish this in one of two ways:
- Set it and forget it. Set your thermostat to a specific temperature and leave it alone. Instead of making adjustments when you're cool or
How to Increase Social Security BenefitsBy: Tammy Kraig, CFP®
As many Americans know, you can retire and start collecting Social Security benefits anytime from age 62 to 70. Most people start collecting right away at age 62.
But what many people don't know is that you can raise your benefit substantially with one of the following three options:
1. Wait until you are older to claim your benefit.
If you wait, you can raise your monthly benefit by more than 75 percent. For example, if you'd get $1,000 a month in Social Security at age 62, you'd get at least $1,333 at age 66, and $1,760 at age 70.At age 62, you get your minimum. At 66, you get one third more and at age 70, three quarters more.
Remember, retiring and claiming are not the same thing. If you have enough retirement savings, you can delay claiming your Social Security by using a portion of your savings to live on. This will draw down your savings, but increase the inflation-proof Social Security benefit you'll get each month for the rest of your life.
2. Read More »from 3 Ways to Boost Your Social Security Benefits
- managing a budget and incurring debt. Developing cost-saving habits will allow you to live more comfortably as you pursue your degree and help you continue to live well after you graduate. So whether you're saving up to throw a killer tailgate party for Homecoming or just paying tuition for next semester, here are a few tips for keeping your budget under control:
Learn to cook. You don't need advanced culinary skills to make a simple meal; it's much cheaper than eating out and healthier than purchasing pre-packaged foods. Start by learning a few basic things, such as boiling pasta, frying an egg, steaming vegetables and cooking brown rice. From there, you can start tackling more complicated dishes. You don't even need to invest in a cookbook. You can find a myriad of recipes on websites such as AllRecipes.com and TheKitchn.com.
Embrace ramen noodles. You can get a package for as low as 12 cents. They aren't the healthiest Read More »from 8 Money-Saving Tips for College Students
- Quizzle.com | Financially Fit – Tue, Feb 22, 2011 11:50 PM EST
How to Save Money with Rewards CardsBy: Dawn AllcotRead More »from I Need a Forklift to Carry My Keys... But I'm Saving Money
I recently became obsessed with store rewards cards and the money I can supposedly save with them. Sure, I always had the requisite grocery shopping cards on my keyring, the hallmark of a true suburban mom. (Whoever thought Pathmark would be a trendsetter in something?)
But now I have cards for department stores, coffee shops, bookstores and even Dick's Sporting Goods, which I visit exactly twice a year for fitness-related birthday presents.
Are any of these cards actually paying off? When I remember to use them, sure. That's why I favor rewards cards with the little key fobs. If I'm shopping, I have my keys with me, which means I can't forget my card. In addition to using the card, here are five more ways to maximize your savings and still protect your personal information when you use store rewards cards.
1. Be selective. I'm only half-joking when I say my keys are getting a bit heavy to carry. I can't imagine carrying my cards in my purse. Do as I say, not as I
When to Buy to Save MoneyBy: Kate ParhamRead More »from Best Time to Buy Guide
It should be no surprise that if you wait to buy your winter coat until March, you'll likely save some money. But who wants to wait to be warm until the snow has melted? I don't know about you, but patience is not exactly my strong suit. I want to buy my coat when it's cold and still save money. Too good to be true? Not with this handy guide, which will help you find the best prices on your favorite products all year long:
Best Time to Buy: January and July.
With designer lines debuting in showrooms in April and October, clearance events typically begin in January and July. Furniture stores want to clear out the old and bring in the newer, hotter items, which incidentally, helps you score the best deal. Scour showrooms for floor samples in good condition to score even more discounts. And don't forget about holiday sales, either. President's Day, 4th of July, New Year's, Mother's Day and Father's Day are all great days to find a deal on furniture.