The conveniences - and pitfalls - of automated teller machines

There’s probably not one adult in the U.S. who does not use an automated teller machine on a regular basis. You no longer have to stand in line inside the bank to make deposits, withdrawals or inquiries on your accounts. If you’re going shopping, you can use your bank card to pay for purchases and even get cash back, withdrawn automatically from your bank account. Automated teller machines are not confined to bank premises either. They’re everywhere, at the mall and inside stores, from large department stores to the local mini-mart. Automated teller machines make our lives easier, often eliminating a trip to the bank among our errands. If these handy money machines were to disappear altogether, the entire society would be thrown into a tizzy.

However, there are negative aspects to the automated teller machines that you need to be aware of in order to save money, keep your finances straight and be safe from thieves and muggers.

Most important is the safety factor. It’s unwise to use an automated teller machine on the street at night, even if other people are waiting in line behind you. Thieves lurk around these machines and are practiced in looking inconspicuous. A person standing nearby may look as though he’s waiting to hail a taxi or looking out for a friend he’s meeting. In fact, he may be idling there, waiting for you to withdraw some cash and then mugging you. If you’re withdrawing money, find an automated teller machine inside a store in a well-lit area.

Another aspect of using automated teller machines can be dangerous to your financial standing. When banks first installed these machines, you were not charged a fee to get a mini-statement of account or to withdraw cash. As the automated teller machines began populating small stores and malls, transactions became a bit more complicated.

Now, if you use a machine in the mini-mart, chances are that the machine is owned by someone other than your bank. When you withdraw cash, you are charged a fee by the owner of that machine, which is clearly spelled out on the screen before you complete your transaction. You accept the fee and make note of it in your bank book. What you may not know is that your own bank will also charge a fee for processing the outside transaction. If your bank balance is not high and you make a number of such transactions, your account may become overdrawn, and a hefty overdraft fee will be assessed.

When you use automated teller machines, keep an eye on those hidden fees, be conscious of your surroundings and enjoy the conveniences they provide.

The art of investing money while in college - on a shoestring!

The typical college student lives on a shoestring budget. With tight class schedules and even tighter budgets, most students never consider investing money while in college. Wouldn’t it be nice to have an income - that exceeds that part time job - rolling in while you pursue your degree? Your investment capital needn’t be huge. There are lots of low budget investment possibilities for you to consider and which you can attend to in hours convenient for you! Let’s take a look at a few ideas to get you started.

Tutoring can be done on a casual basis, producing income with no cash investment. What most students fail to realize is that, over time, tutoring can become a full-fledged small business. For example, you begin tutoring one language student. Your satisfied student customer recommends you to a friend. A professor recommends you to another student. You find your appointment book filling up quickly, with your work hours scheduled in time slots convenient to your class schedule. When you’ve established a following, it’s time to form your business entity.  Get a business license, a business bank account and business cards. You’re ready to hang out your official shingle! Branch out with additional services. Target the general public as well as students. Offer translation and proofreading or editing services. This strategy for investing money while in college can provide a lucrative income before you’re out of school.

TESL (Teaching English as a Second Language) certification is not too pricey and this skill is much in demand all over the world. Advertising is cheap or free. Go online with an ad on craigslist.org, put flyers up at the student union and on local community bulletin boards. You’ll get customers! Again, you schedule lessons that fit your schedule. Investing money while in college is a wise decision that earns you credibility and income. The experience also looks good on a resume.

Use your imagination. Make use of your strengths. Graphic design students can put up a website for next to nothing, offering logo, book cover and menu design services, along with brochures and business cards. The English major’s website can offer proofreading, editing and writing services. Make the most of your skills and build a business that grows with you. Consider forming a consortium with other students to combine skills to your mutual benefit.

You can see how investing money while in college can be accomplished on a small budget. You name your own hours and receive a good return on your investment. Your business moves right into the future with you. You’ll have a sizable portfolio in a few years. If you choose not to keep your business, you can sell it!

Money management

Chances are, if you’re living paycheck to paycheck and wondering how you’re going to make ends meet sometimes, you need some help in the money management aspect of your life. If this is the case, you are not alone. In fact, it is a lot more common than most people seem to think that it is. The weak economy and the expenses of day to day living are a struggle for most families. The skyrocketing prices of fuel have become quite a hardship for some and taken a bite out of already tight budgets for most individuals.

Sitting down and taking a look at your financial situation may help you to find some ways to bring money management into your lifestyle. Granted, money management can’t increase your paychecks or deliver money to your door, but it can help you spend your paychecks in more practical ways. In fact, have a money management plan can help you increase your savings and decrease some of your expenses. It will take dedication and willingness for some change but the end results may be very worthwhile.

The first and simplest money management step is to figure out where your money is going. Keep track of every single penny that you spend for an entire month. If you get a cup of coffee every morning before work, write that down. If you get a pack of crackers from a vending machine, jot that down as well. Keep track of your gas expenses, groceries, all your bills – every single thing that you spend money on. Before the end of the month, you may just realize some things that are really taking away from your success. That $1.00 cup of coffee every morning might be costing you an extra $20-$30 per month. Sure, that doesn’t sound like much but when gas might cost you an extra $30 each month, that coffee money will come in handy. Make coffee at home or the office instead of going through a drive-thru every day.

One secret of successful money management is common sense. Don’t go grocery shopping in the grocery store that doesn’t accept coupons. Find and cut out as many coupons as possible. You can easily save a nice sum of money every visit to the grocery store if you just look around for coupons, take the time to cut them out and carry them with you. The average coupon user saves $15 each visit. If you go to the grocery store every week, that’s an average savings of $60 a month that will stay in your pocket.

One other simple and successful factor in money management is conservation. Do you really need to have the TV on when you aren’t even paying attention to it? Is there a need to have every light in the house on when you’re not in the rooms? Conserving electricity will decrease your electric bill. Running the dishwasher only when it is full will conserve water and electricity. Sure, the savings may only be a few extra dollars each month but when you’re trying to decrease expenses, every single penny helps. Take an evening and truly analyze your monthly expenses. Find a money management plan that will work for you and remain dedicated to it. You’ll see the results almost immediately.

Debt Consolidation Companies

Back when I was in college, I made the mistake of signing up for as many credit card offers as I could find. There were always a bunch of sales reps outside of football games and other big events, and the lure of free swag like t-shirts, hats, water bottles, and even MP3 players was simply too enticing to pass up.

Then once I received the credit cards, I started using them to finance a lifestyle I couldn’t afford. Before I knew it, I owed thousands of dollars, and my minimum payments were barely making a dent in the interest charges. This went on for a couple of years before I decided to try consolidating all of my bills into a lower monthly payment.

I talked to a credit counselor about my situation, and she was able to give me the names of a few debt consolidation companies that could assist me. Debt consolidation companies specialize in helping people pay off their bills and get back on their feet through a variety of solutions that can be tailored to fit their specific financial circumstances. I was in so deep at the time that I had nothing to lose by checking out my options.

I went to two different debt consolidation companies to get some input on my situation. At the first debt consolidation company I visited, I was told that a loan would be my best bet. I could then use the loan to pay off my bills, and since the loan would carry a lower interest rate than my credit cards, I’d be saving money in the long run. That sounded like a logical strategy, but since I would still be stuck paying off that loan for the next several years, my situation wouldn’t change all that much.

The second debt consolidation company I went to offered me a much better solution. Instead of just trying to patch my problems up with a quick loan, they seemed sincerely interested in helping me repair my finances. They were willing to call my creditors to negotiate lower payments, and then they wanted to help me set up a budget to see precisely how much money I could devote to paying off my bills. After that, they looked at ways to help me make up the difference.

Together, we settled on a repayment plan that I could live with, and the debt consolidation company continued to monitor my progress to ensure success.

Finally, after many years of hard work and strict adherence to my budget, I am now completely debt-free. I couldn’t have done it on my own, however, so I’m glad that I was able to find good debt consolidation companies to lend me a hand.

I was afraid of online banking for a long time. I didn’t like the idea of my financial information being out there when someone could try to break into it. However, my thinking has changed a bit in the last year, and I now use it. Not only is it safer than it has ever been, it makes my life a whole lot easier. If you are considering signing up for banking on the Internet, do your research first, and then decide if you are comfortable enough with the security you are going to get.

If you are concerned about the security of online banking, talk with your bank. Ask them what they do to ensure no one can get into your account, and even what they would do it someone did. Banks are coming up with new things every day to keep things safer, so it is getting harder to get into random accounts. Unless you fall for a phishing scheme and give up your passwords and other information, you are going to be pretty safe. However, ask so you know you are comfortable with the safety measure that they have in place to protect you and your accounts.

Some of the security of online banking is up to you. You should never use a password for your accounts that you have ever used anywhere else, and you should never use something that is personal. You should always mix random letters with numbers, and you should change the password on your online banking account at least once a month, though changing it once a week is even better. Don’t use obvious clues for reminder questions. That means think of something other than your mother’s maiden name. That information is far too easy to get. You may not want to consider it, but someone that knows you may be the person hoping to access your accounts.

Once you feel secure with online banking, you will be happy to see what it can do for you. If you have more than one account, you can normally move money between them within a matter of minutes. You can also pay bills with some banks, though you may have to ask if your particular bank offers that service. You can see your accounts in almost real time, and you can also see rather quickly if someone has gained access and money is missing. That means you can take action a lot quicker if there is trouble.

SAVING MONEY

Today’s high cost of living demands that most of us be diligent and creative when it comes to saving money. Although housing costs are fixed, much of the remainder of your budget can be trimmed with a little imagination and discipline. Let’s look at some simple ways to save money that let you enjoy life while saving money in significant sums.

During the Great Depression, people had to use every possible money saving measure just to keep the household afloat. Today, we’re not faced with such dire circumstances, but taking a page from our grandparent’s day will result in saving money for that rainy day.

Home heating and cooling costs are enough to ruin your day with your monthly bill. Inspect your doors and windows for worn-out or non-existent weatherstripping. The expense of sealing those leaks is minuscule when compared with continuous, expensive heat flying out into the great outdoors. When you’re home in chilly weather, put on a sweater and turn down the heat. Good weatherstripping is just as valuable in summer, keeping the heat out. Consider installing two-directional ceiling fans, which are useful money saving appliances, in both summer and winter. On all but the hottest days, use the fan to pull up the hot air instead of reaching for the air conditioner switch. In winter, reverse the fan blades to keep the heat around you rather than warming the ceiling.

Even lighting can add noticeably to your power bill. The rule of thumb on lights is, if you won’t be using it in the next two or three minutes, turn it off. You’ll be saving money.

Food purchases offer big rewards when it comes to saving money. Rising fuel costs have made it more expensive to get food transported to the grocery store and that cost has been passed to the consumer. Most of us are taking a hard look at reinventing our menus to keep our food budgets intact. Here are some ideas to spark your imagination.

The average American diet includes far more protein than our bodies need. Stir-fry dishes, along with casseroles, soups and omelette’s generally require little meat, provide tasty ways to use leftover vegetables and are nutritious, yet substantial enough to satisfy your appetite. The one-dish meal often relies on a variety of color and textures from several ingredients and the addition of herbs and spices to produce a meal that is both attractive and flavorful. For maximum savings on food, design your menus around the weekly sales.

Simply following the few ideas here can make saving money painless. Your home heating and cooling costs may plummet a whopping 15%.  Smart and thoughtful food shopping can easily reduce your bill by 30%. Saving money can be fun! Bank it, or take a second look at that must-have pair of shoes you’ve been admiring. No doubt your friends will ask how you became a money saving expert!

There Really are Loans for People with Bad Credit

Life is tough! Everyone gets the chance to learn this harsh fact when they take it upon themselves to move away from home and finance their own lifestyle. Suddenly there’s rent, a car payment, insurance bills, medical insurance, dental plans and more. Suddenly you’re using credit cards to keep up with the countless bills being tossed in your face. Naturally this bad process leads to massive credit card debt and all of the sudden you have a mortgage to worry about on top of that. Okay, the first thing you shouldn’t do is panic. Freaking out will get you nowhere. In reality, most of mankind is also grappling with the same monetary issues. Therefore there’s no reason to feel alone. Fortunately even if your credit is poor, there are loans for people with bad credit available. The key is finding them and taking advantage of them.

While many individuals may have started with a common financial advisor in the past when they were in search of loans for people with bad credit, these days things have changed. Sure, there are still financial advisors, but there’s also the Internet at your disposal. Online you can learn a great deal about bad credit loans and effectively paying off hideous debt. You might find it useful to begin with websites like personalcreditservices.com, mycashnow.com or creditloan.com. These online services for people with bad credit can provide you with a plan that’s beneficial to your particular situation. Consider the amount of debt you owe and when it5 all needs to be paid off by. Now take a peek at the percentage rates you’re currently conforming to. Yep, you’ll probably be irked to say the least. Most likely there are helpful loans for people with bad credit to assist you now and help you bring those awful interest rates way down.

Don’t make the mistake of waiting or not seeking out loans for people with bad credit immediately. The sooner the better. The key is to stop forking out major dough to high interest rates. This is how you’re losing oodles of money! There is surely a bad credit loan out there to assist you. All you have to do is a bit of homework.

You may think of credit cards as something that people use for personal finance. However, if you own a business, you may want to have one for just that purpose. The great thing about business credit cards is that they are more powerful than regular cards, and the lines of credit you have are often much larger. This is because a lot of money comes in and out of most businesses, and the owners need more capital to work with to keep things running smoothly. If you own a business, this could be one of your best ideas yet, as long as you know what you are doing.

When you decide you should use business credit cards, think about what you would need it for. If you have to make purchases with it, you want something with a larger balance and that has a better interest rate. Those are important when you may have to make an order at the last minute, but you know you don’t have the cash to cover it. Most of the time, business credit cards mean that you don’t have to think about cash on hand at all for purchases and other expenses. That makes things easier when aspects of your business are unpredictable at best.

What is great about getting business credit cards is that they can have some of the same perks that other cards have, but they will pertain to your business many times. Much like you can get a card that earns you miles for air travel or cash back for certain things, you can find business credit cards that can do many of the same things. Many of the offers, however, may be tailored to things that will help business owners. You may not need airline miles, but perhaps you would love to have cash back.

As a business owner, you may get offers for such cards in the mail, or you may even get phone calls about the subject. You should be smart about what you choose and what you leave behind. You can always look around online for information on various business credit cards to see what each place has to offer and which ones seem to be more in line with what you need for your business. You can always change cards if something comes along that is much more appealing, or you can have more than one if the need arrives.

Okay, here it goes; before you tear open that Visa or MasterCard pitch you just pulled from the mailbox, I want you to remember one important detail. The 0% APR on balance transfers only lasts for a year and it never applies to purchases. Therefore if you don’t have any balances to transfer, I would seriously consider ditching the card. Or better yet, flip it over and take a gander at the APR for purchases and cash withdrawals. I’d be willing to bet it’s sky-high. Hey, they always are. The credit card companies are trying to hook you with the fat 0 on the front of the document. Rip up the pitch and toss it in the trash can. It’s imperative to do a credit card comparison before accepting any offers.

The world of plastic is not like it was in the beginning. It no longer comes down to what you receive in the mailbox. It’s a synch to surf the web and do a routine credit card comparison. Pull up everything MasterCard, Visa, Discover, and American Express have to offer. See who currently has the lowest APR that applies to your needs. By this I mean if you’re doing a balance transfer, you’ll want 0% on this; if you want a credit card for purchasing, you’ll want the lowest APR possible on purchases and so on. 0 APR doesn’t count for anything if you don’t reap the benefits from it. I had my eldest daughter do a credit card comparison last week on her laptop. She had plenty of difficulty pinpointing an interest rate that she actually wanted to pay each month. Ha, big surprise there. None of us can find these.

It’s difficult to keep that APR down! Even after doing a prudent and thorough credit card comparison on the web, and finding that card you need, you’ll still run into annoying increases. Credit card companies are notorious for doing this. Just when you think all is going well, they raise your APR. Now, there probably isn’t even a reason for it. They raise it because they can. Does this really surprise anyone? I doubt it. Anyway, then you’ll be on the phone trying to convince them to lower it back to the original decent APR. Good times!