When something dramatic changes in your life, how do you respond? do you change your lifestyle around it or do you change your budget instead? For example, given the sharp increase in the price of gas in the last few weeks, do you go back to your budget and increase the amount allocated for gas?…
7 Advantages of Using a Personal Budget
Discover the undeniable reasons why having a budget is essential for managing your personal finances. A budget provides a clear overview of your income, expenses, and remaining funds, empowering you to make informed decisions. It ensures financial freedom by allocating funds to different categories, preventing overspending in one area and leaving nothing for others. Additionally, a budget helps eliminate debt, reduces stress, and enables you to assess and improve your financial situation.
Selling and Making the most out of your Textbooks
As current or former students, we all know what a fortune it costs to buy textbooks. Sometimes in the thousands of dollars per semester. Given students’ limited income, this can be quiet tough for most students to afford, and can shred your budget to pieces! Having said that, there is something you could do with your…
Carrying Larger Bills could help you Save Money
Before, it was about common sense and conventional wisdom. Now, it is has been proven through real research. According to a study published in the Journal of Consumer Research, shoppers are less likely to spend their money if they are carrying cash in large denominations. There is even a name for this social phenomenon: ‘denomination…
A Faster Approach to Paying off your Credit Card debt
When it comes to eliminating your credit card debt, paying the minimum payments will only mean that you are covering what is necessary to ensure a good standing order with your card issuer. But that is about it. You are not getting ahead in terms of paying off the remaining balance on your credit card….
Want to make that big purchase so bad? Then start planning last year!
Like everyone else, I occasionally see something I really like and want to get it that moment. Problem is, it may not be anything I can easily afford. It could be something big, say a nice car, a new electronic gadget, computer etc. Call it ‘instant gratification on steroids!’ Unless I have a lot of…
The Dangers of Consumer Financial Illiteracy and Ignorance
In a CGA-Canada survey, more than half of the people surveyed had no idea how much interest they were paying on their credit card balances, thinking it was 3-4% like prime rate! How disappointing is that? Sure this may not be something that everyone of us know to the cent, but don’t people look at their…
Book Review “75 Ways to Save Gas” by Jim Davidson
It seems like the higher gas prices go, the more efforts we exert to try and find ways to save money on it. We have to, unless we have infinite supply of money or our cars run on some futuristic solar energy source. There are lots and lots of websites out there, offering different tips…
Fuel Efficiency should be your top priority for your next car purchase
I don’t know when will people realize that oil is in an ever declining supply, and as a result, gas prices will only go up. So why do we have to wait for a hurricane, middle east unrest or other unforeseen events to make us realize that gas is too expensive and we just can’t…
How to fight back against high utility bills and save hundreds every year!
It seems like every utility bill I was getting lately, whether it is for electricity, water, gas etc., was higher than the previous one. So much so that utility bills were absolutely killing my budget. They were starting to eat away into other items’ allocation. I realized this can’t go on like this forever. Something…