Finances
http://www.daveramsey.com/radio/home/
Financial Peace University
What is FPU? FPU is the most important step to changing your financial future. It is your Total Money Makeover Program. It takes the head knowledge from the books and the radio show and turns it into real action. FPU is a 13-week, life-changing program that empowers and teaches you how to make the right money decisions to achieve your financial goals and experience a total money makeover.
Who is FPU for? It's for EVERYONE from the financially secure to the financially distressed. Over 350,000 families and individuals have attended FPU at their workplace, church, military base, local nonprofit organization, community group, or online. On average these families have paid off over $5,300 in debt and saved $2,700 during this 91-day program!
How can I get involved?There are three ways to get involved:
1) Attend an FPU class near you.FPU classes are taking place across the country. Get started or call our office at 888.22PEACE. We will be happy to assist you.
2) Start a class in your area.Coordinating a class is easy! Dave does all the teaching via video. Find out how to start a class.
3) Can't take a class in your area? Try FPU Online!FPU is now available in an interactive, online format. Class is in session 24 hours a day, 7 days a week! Get started now!
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Plan for your future starting with this easy example Monthly Budget planner.
Free Budgeting Sheets: http://www.personalfinancebudgeting.com/budget_worksheet.php
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http://www.personalfinancebudgeting.com/
10 Quick Debt-Busting Tipsby Colin McCaig
Are you really frustrated?
Does it sometimes seem like the dollars are slipping through your fingers while the bills just seem to keep mounting up? It's a familiar feeling for many of us nowadays. Sometimes, though, like most things in life, taking a step back from it all and starting to get some simple things right can make a huge difference on the big picture.
If your debts have been getting you down recently, here are 10 great ways to start slashing them today:
1. First off, consider going on a "cash diet" for the next few months. Lock away some of those credit cards in a safe deposit box... or just cut them up altogether! By all means keep a low interest rate card for emergencies, but definitely rid yourself of any store cards. Why? Because they encourage you to buy junk you don't need at exorbitant rates of interest!
2. If you're having difficulties with any of your lenders, approach and deal with them personally. Not only will they appreciate your initiative, but will be far more responsive down the line if you're having further repayment difficulties. The one thing that irritates them most is someone ducking and diving the problem.
3. If you think you can afford to pay off any of your loans in one go, approach your lender and offer a reduced final settlement of anything between 25 and 75%. Try and get the best deal. They can only say no, and might just say yes to get some money in. When I was deep in debt, I was fortunate to pay off a bank overdraft in this way. In fact, they proposed straight off a settlement of 75%... not me!
4. Ask for a promotion at work. Believe it or not, it's estimated that one in two people who actually do this get one.
5. Shop around to get the best deals on utilities like gas and electric... A home energy audit can help save hundreds of dollars a year on heating bills. Ask your supplier who may be able to this for free or at very low cost. Many countries now have websites where you can make sure you're getting the best deal. Try doing a web search for "energy savings" plus your country. A good US site for this is: http://snipurl.com/4vjo If you're in the UK, try checking out: http://www.uswitch.com/ Also, make sure that any new appliances are energy efficient. This alone can save you hundreds of dollars a year.
6. If you have a spare room, why not consider renting it out for a while.
7. Check to see you're paying the right amount of tax. You might possibly be due a refund. Every year governments rake in hundreds of millions in unclaimed tax. You can get free software programs to help you with this.
8. Buy cheaper insurance and investments. Shop around for the best deal on all types of insurance, including life, home, health, travel and pet cover. This could save you thousands over the coming years!
9. Consider shopping more online. Online stores often give a discount as they don't have the same overheads involved when selling offline. Search for those goods you want using a search engine or ask the retailers themselves if they have an online store. Here's a great free resource to get you started.
10. Have a direct debit set up so that your debt payments leave your account the day your paycheck is paid in. That way, you'll be less tempted to spend it. And when you do get out of debt, charge a direct debit to another account and pay in a regular monthly amount (as much as you can afford.) Call this your own personal wealth insurance. You'll never regret it. By adopting the above strategies, the light at the end of the tunnel will start shining that little bit brighter. Instead of spending more than you earn, you'll soon be earning more than you spend! Good luck!
Copyright © 2004 by Colin McCaig mailto:colin@cmcaig.com About the Author: Colin McCaig is dedicated to helping others become debt free and start their own home-based business. Get his free6-part mini-course. Learn the powerful secrets to becoming debt-free using only the money you have today. Send a blank email to: colindebtfre@demandmail.comThis article provided by the FamilyContent Archives at: http://www.family-content.com/
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Five Major Ways to Save Moneyby Paul Davis
http://www.personalfinancebudgeting.com/five-ways-to-save-money.php
1. Home Cooking
Food is a major expense in everyone's budget. But, in today's convenience food society, it's easy to overlook how much money can be saved by cooking meals at home. Plus, it's fun, creative, and healthier to make your own meals. The key is to cook in "bulk" to stretch the food you buy over several meals. If you're a busy person with little time to spare, a good investment is a slow cooker (or crock pot). Generally, they run from $20 to $80, depending on the size. With a slow cooker, you can set aside some time on the weekend to cook stews, soups, and other delicious meals that can be frozen for weekday use. After a hard day at work, all you have to do is pop the meal in the microwave! More than likely, you'll enjoy an additional benefit - your taste buds will wake up from mass produced food and thank you for the delicious taste of a home-cooked meal!
2. Drive less, exercise more
Is owning a car expensive? You already know the answer to that question, don't you? Gas, maintenance, insurance costs. Plus the mental aggravation of being caught in traffic jams! Why not carpool or take public transportation-the bus, train, or light rail? Or, if you live close to work, walk or bike. You'll lose weight, lower your blood pressure, and see the world at a slower pace. And, oh yes, you'll save a couple of thousand dollars in the process.
3. Cut housing costs
This is an easy and fun way to cut costs. Instead of paying a contractor to come in to make changes or repairs, make them yourself. Local hardware stores love your business and will help you with tips and tricks on home repair. Also, do your own decorating and painting. You get two benefits by doing your own changes and repairs - you get the pride of accomplishment and you save money.
4. Cut clothing costs
This can be another major area of expenses, especially if you have a family. So, try buying used clothing... dry clothes on the clothes line instead of in a dryer... learn how to mend clothes...well, you get the idea!
5. Quit your addictions
Okay, so this is not really an easy category, but if you enjoy cigarettes and a drink, this is where you can realize some major savings. Assume you're spending $5.00 a day on cigarettes. Added up over a year, that's an expense of $1825. As for liquor or wine, we all know how expensive that is. Assume you buy one bottle a week at $10 to share with family members or friends. That's $520 a year. Add both amounts up, and the total is $2,345! That's money that could be paying down your debt or going into savings. And don't forget the health benefits. You probably have many other ideas on how to save money in the five areas. If it seems hard at times to cut costs in these places, remember one thing - you're on the road to keeping more of your money in your own pocket! As the old saying goes: "Money saved is as good as money earned".
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Budget Percentagesby Nattie Gilbert
I was recently emailed asking me what I recommended for budget percentages. Since I didn't know what our budget percentages are, I couldn't answer. I decided to investigate what ours were and what other people recommended.
Our Budget:
Taxes 7%
Housing 33%
Auto (payment, insurance) 19.5%
Savings and Investment 7%
Medical and Life Insurance 2.5%
Food 21%
Misc. (clothing, toiletries, recreation, gifts, allowances, etc.) 10%
After investigating other sources, I discovered that we were similar. We are higher in some categories and lower in others.
Consumer Credit Counseling Service:
Housing 20-30%
Utilities 4-7%
Food 15-20%
Transportation 6-20%
Medical 2-8%
Clothing 2-4%
Invest/Savings 5-10%
Debt Payments 15-20%
Misc. 5-10%
Bare Bones Budget from National Fdn for Consumer Credit:
Housing 24%
Food 14%
Health 6%
Clothing 6%
Transportation 17%
Entertainment 5%
Personal Insurance 11%
Charity 4%
Savings and Other 13%
Budget Example
Savings 5%
Food 18%
Transportation 12%
Clothing 9%
Medical 6%
Recreation 5%
Housing (including utilities, furniture, and operating expenses) 27%
Other 18%
If every budget example is different, then how do you know what to do. First there are some basic recommendations.
*Save or invest at least 5%.
*Debt payments shouldn't exceed 15%.
*Mortgage companies want house payment to be no morethan 25%. Housing or rent costs should be kept within your means. We struggle in our area due to booming economy and high rents.
There are a few basic steps in order to set up a viable budget.
All budgets should be specific to your needs and goals. There is no set amount that works for everyone. Make sure that you set realistic amounts. It's unrealistic to take on another loan that would cut your allotted food expenses in half when you're already struggling to stay within your budget. Treat savings used for goals and emergencies as a bill. If you wait to save what's leftover at the end, there will never be anything left over. Involve your family members. Spousal cooperation is necessary for any budget plan to succeed. I let my children participate in our budget discussions. Since I started doing this, my children understand money better. They are less likely to whine when they can't get something. They are also proactive in our frugal goals, especially when they know if we spend less on food there is more for fun. I also hope that they won't struggle like my husband and I did to learn to budget as adults.
Track, track, track. I truly hate this part and it makes me feel obsessive. But if you don't track, you won't know exactly where your money goes and where you need to focus. How you track depends on your personality. Computer programs like Quicken and Mvelopes Personal work great for some people, but not us. We need something quick, easy, and accessible to each of us. Therefore we use a notebook with lines for categories. All discretionary expenditures are listed in like categories such as food, recreation, and gas. We total them every day to see where we are. I've discovered if I compare budgeting to dishes (daily) instead of spring cleaning (yearly), I have much more success.
Refrain from impulse buying. "Oh sure," you say. If I could o that, I wouldn't even be reading this. I have a confession, I impulse shop, too. I believe most people do. The key is to find out why, what are your weaknesses and is there another way to satisfy your need or overcome your weakness. I often impulse shop when I feel ugly (which usually coincides with PMS). After analyzing this tendency and realizing that I probably can't overcome the feeling, I've brainstormed other ways to feel prettier than buying something. Treating myself to a bubble bath, good book and soft music satisfies the need to feel pampered and pretty without spending money. If you track your expenditures for at least 3 months, you will be able to see your weak spots. Then you can begin to overcome them.
Budgeting requires a commitment to ongoing tracking, analysis and implementation of frugal alternatives. A successful budget doesn't happen without hard work and time.
Gary Forman of the Dollar Stretcher explains why budgets fail. "When you analyze it, there are really three reasons why people are unsuccessful in budgeting. The most common causes of failure are unrealistic goals, quitting too soon, and misunderstanding what a budget really is."
