50 ways to trim your budget

Housing and utilities:

1. Refinance your mortgage to get a lower rate or switch from a 15-year mortgage to a 30-year loan.
2. Raise your deductibles on your homeowners or renters insurance.
3. Challenge your property-tax assessment.
4. Eliminate premium channels from your cable or satellite TV service.
5. Drop the pay TV services altogether.
6. Reduce phone extras such as call forwarding or call waiting.
7. Cancel your land line in favor of cell service (or vice versa).
8. Seek a cheaper long-distance carrier (try SaveonPhone.com or LowerMyBills.com ) or switch to Internet calling if you have high-speed service.
9. Investigate whether bundled service (phone, high-speed Internet and cable television) might save you money.
10. Wash only full loads of dishes or clothes.
11. Use a clothesline and use your dryer just to soften air-dried clothes.
12. Use shades, blinds and drapes to regulate your home temperature: Keep them open in the winter to let in light and drawn in the summer to block the sun's rays.
13. Install a programmable thermostat so your home is heated or cooled only when you're actually there.
14. Don a sweater in winter and shorts in the summer so you're not overheating or cooling your house.
15. Switch to compact-fluorescent bulbs, and turn them off when not needed. Turn off TVs, computers and other electronics when not in use.

Transportation:

1. Raise the deductibles on your auto-insurance policy.
2. Get all the discounts you deserve, such as good-driver, good-student and multiple-car discounts.
3. If you're driving less, tell your insurer; you may get a cheaper rate.
4. Cancel collision and comprehensive insurance on cars older than five to seven years.
5. Investigate carpools and public transportation. Cities often have online trip planners to help you figure out the system. See if your employer offers any subsidies. Look into car sharing.
6. Bike or walk as often as possible.
7. Avoid repair bills by maintaining your vehicles properly with regular oil and filter changes.
8. Group your errands and, if you have more than one car, use the vehicle with better gas mileage.

Food:

1. Bring lunches and snacks to work.
2. Cook once, eat twice: Double whatever you're making and freeze the excess for a later meal.
3. Make at least one or two meatless meals each week.
4. Avoid overpackaged, overprocessed and highly advertised foods. The closer a food is to its natural state, the less it tends to cost.
5. Buy fruits and vegetables in season. Also check out your local farmer's market.
6. Cruise through your fridge daily to use items before they go bad.
7. Give up a vice (smoking, drinking, soda, salty snack foods).
8. Use the weekly grocery store circulars to see what's on sale and plan meals accordingly.

Personal insurance and retirement :

1. Consider "refinancing" your term life insurance; rates have dropped in the past decade, so you might be able to qualify for a lower premium.
2. If you have a long-term disability policy, investigate the savings if you opt for a longer waiting period to reduce premiums (if you have an emergency fund or other income to bridge the gap).
3. Suspend contributions to annuities and other accounts that don't offer matching funds or tax breaks.
4. Make sure you got proper tax credit for last year's retirement contributions if your adjusted gross income was less than $25,000 (for singles) or $50,000 (for couples). The retirement tax credit of up to $1,000 for lower earners is one of the most overlooked tax breaks, said MSN tax columnist Jeff Schnepper in "10 big deductions too many people miss." If you deserved this break but didn't take it, it's worth amending your return.

Health care :

1. Buy generic drugs.
2. Look for free and low-cost clinics.
3. Use urgent-care clinics rather than emergency rooms whenever possible.
4. Ask for discounts when you pay cash.
5. Carefully review hospital bills for errors.
6. Monitor insurance claims to make sure they get paid.

Clothing and services :

1. Find out what looks good on you and stick to classic styles that won't look weird next season.
2. Inventory your wardrobe and buy pieces that work with what you already own.
3. Avoid dry-clean-only clothing.
4. Make hair appointments at beauty schools rather than full-priced salons.
5. Drop your health club and form a walking or jogging group with friends.
6. Hold a clothing swap with friends.
7. Ask friends and relatives for hand-me-downs.
8. Give kids a clothing allowance or offer "matching funds" for what they want to buy.
9. Check out consignment and thrift stores for lightly used items.

References and sources:

* 50 ways to trim your budget (http://articles.moneycentral.msn.com/SavingandDebt/LearnToBudget/50waysToTrimYourBudget.aspx), Liz Pulliam Weston, cited 081020

How to start a business

Starting a business

1. Decide business form, whether it's individual, partnership, company or limited liability company (LLC). In Indonesia, we could say it's Firma, CV, PT, and so on.
2. Business name
3. Location depend on business type
4. Prepare and backup for failure due to lack of business planning, inept managers or employees, incomplete accounting records, improper financial reports, lack of control over assets, bad credit policy and inability of the owner to reach or act on decisions.
5. Bank account, and try to know bank manager
6. Zakat and payroll taxes, try to know and calculate how much our business will spend money
7. Hiring employees
8. Utilities: phone bill, water, gas, electricity and so on as operational fees
9. Licenses and permits, request for it to city or county offices
10. Insurance
11. Bookkeeping and Accounting
12. Equipment
13. Suppliers
14. Promotion and advertisement

Startup cost
Considering startup cost
Cost:
* Down Payment
* Amount of each payment

Furniture, Fix Asset, & Equipment:
* Decorating and remodeling
* Installation of fixtures and equipment
* Starting inventory
* Deposits with public utilities
* Legal and other professional fees
* Licenses and permits
* Advertising and opening promotion
* Advance on lease
* Other and Misc. cash requirements
---- Total etimated cost needed to start

Estimated monthly expenses:

* Salary of owner-manager
* All other salaries and wages
* Payroll taxes and expense
* Rent or lease
* Advertising
* Delivery expense
* Supplies
* Telephone
* Other utilities
* Insurance
* Property taxes
* Interest expense
* Repairs and maintenance
* Legal and accounting
* Miscellaneous
----- Total Estimated Monthly Expenses =

Then multiply by 4 (4 months)
Add it to total Cost needed to start above

TOTAL ESTIMATED COST NEEDED
___________________________

Reference and sources

• Article at: http://www.howtoadvice.com/BusinessStartup/ by Theodore Hansson

Managing Debt

By MSN Money staff

At some point in our lives, most of us have borrowed too much. If you're in over your head, don't despair. But make no mistake: You must learn to live on what you earn.
First, stop making excuses about why you're in debt. Don't blame the credit card companies or your parents. Put that energy into reducing your debt. (See "Solving money problems.")
Debt can be extremely stressful, so tell someone you're in financial trouble. If you can't talk to a family member or friend, contact an organization that deals with debt reduction, such as the nonprofit National Foundation for Credit Counseling.
Then get a handle on how big your problem is. You can start with MSN Money's Debt Evaluation Calculator, or you can sit down with pen and paper. When you have no idea how much you owe, simply establishing a number is a critical first step.

Don't avoid the B-word
The best way to start reducing debt is to set up a budget. It's not a punishment; it's a way of knowing exactly where your money goes. You'll need to add up your income and subtract your expenses, then set up a plan. (See MSN Money's Managing Your Budget Decision Center.)
Don't lie to yourself. Be honest about your spending habits and you'll end up with a more realistic budget.

• Budget more than the minimum on credit card payments. Paying the minimum is better than nothing, but you wind up paying a lot more in interest as you chip away at the balances.
  
• Start an emergency fund -- a savings account that should grow to at least three months of expenses. Even $10 a week can help if it means you don't have to visit a payday lender two months from now. Without an emergency fund, unexpected costs or loss of income can drive you deeper into debt. (See "Why you need $500 in the bank" and "Everyone needs an emergency fund.")

What's your plan?
Use your budget to help you plan your debt-reduction strategy. List all of your debts, from the highest interest rate to the lowest. Aggressively pay down the highest-rate balances while making on-time minimum payments on the others. Your budget will dictate how much you can devote to paying down your balances each month.
In addition, consider these tips:

• If you have the money in savings, pay off what you can. The amount of savings income you get is usually dwarfed by interest rates you pay on your debts.\
• Use any extra cash -- bonuses, extra paychecks, lottery winnings -- to pay down debts.
• Volunteer to work overtime, or get a second job.

If you can't earn more money, you'll need to spend less. Try these tips:

• Eat at home when possible. Avoid buying lattes and fast food. (See "Huge debts, paid off fast.")
• Go cash-only. After the bills are paid, allot yourself a certain amount of cash for gas, groceries, etc. When the cash is gone, the fun is done. (See "Living 'poor' and loving it.")\
• Forgo premium cable-TV channels and high-speed Internet service. Your public library typically not only offers free Wi-Fi but computer access as well.

Consolidation is a dangerous roads

As you grapple with repayment, the temptation is great to borrow from Peter to pay Paul in one lump sum. You might be better off paying your debts bit by bit. (See "The 3 worst money moves you can make.")

• Consider consolidating your loans only if you have the discipline to not use your credit cards. Consolidation means you take out one loan to cover all of your existing payments. If you do transfer a balance from a card, destroy that card so you won't be tempted to run up the balance again. (See "10 bad habits that lead to debt disaster.")
• Don't use a home-equity loan to pay off credit card debt. Even if the home-equity rates are lower than your cards' interest rates, trouble looms if you run up your balances again.
• Don't borrow from your 401(k). The closer you get to retirement, the more you'll regret it.
• Skip credit-repair clinics that may charge you hundreds of dollars to fix your credit record.
• Don't stretch to buy a house, even if everyone tells you it's OK. Buying too much house could mean giving up other things you want: vacations, eating out or college for your kids.

Face up to your credit cards

Once you're out of debt, how can you stay that way? Of course, stick to your budget. In addition, figure out how to deal with credit cards, which likely got you into this mess in the first place.

• Stop charging right now.
• Cut up all but one of your cards, the one with the lowest interest rate. Use that card only for emergencies.
• If you continue to use your credit cards, pay in full every month and avoid interest charges altogether.
• Pull your credit reports once a year and check them for errors. (See "How to get a credit report for free.")
• Call your creditors and ask for lower rates.
• Leave your credit cards at home. Shop with a list and buy only what's on the list; don't be tempted by sale items you don't need.
• Don't use retail-store credit cards for the discounts. Chances are that card carries a high interest rate that you'll have to deal with if you don't pay off your balance each month.

When the collectors are knocking

If you've gotten in so deep that debt collectors are at the door, know your rights:

• Debt collectors may not harass, oppress or abuse you or any third party they contact. (See "Make a deal with debt collectors.")
• They may not falsely imply that they are government representatives or that you have committed a crime.
• They may not tell you that you will be arrested if you do not pay your debts.
• Whatever you do, don't give up. You didn't get into debt overnight, and you won't get out that quickly. Getting out of debt takes time and patience, but it pays big dividends down the road.

Published Dec. 14, 2007

Source: http://articles.moneycentral.msn.com/SavingandDebt/ManageDebt/Your5MinuteGuideToManagingDebt.aspx?page=all

Put Debt on a Simple Diet

By MP Dunleavey
Editor's note: Join columnist MP Dunleavey and a group of women as they seek to strip away the myths around money, liberate themselves from debt and find financial sanity. Follow the continuing quest of the Women in Red every other Wednesday in Dunleavey's column on MSN Money.

Sherry Matulock still remembers the day she paid off the last of her credit cards, about four years ago. "I was so proud of myself," she says.
But that debt-free feeling didn't last.
A year later, Matulock, 33, the director of recreation for an assisted-living facility on Long Island, slipped back into the hole. "My father was sick; there was a lot going on," she recalls. And the emotional spending began.
Before she could say "MasterCard," Matulock owed $5,000, then $10,000 and ultimately $15,000 on her credit cards. That, on top of her student loan, car loan and a small personal loan, spelled grim financial news. By early 2007, Matulock's debt totaled nearly $60,000.
But she fought back and beat the debt demon, with the undying support of the Women in Red and an unexpected assist from financial expert Jean Chatzky.
Everyone who is in debt wonders what it takes to get out of it. Matulock's story reveals one woman's winning formula, composed of just a few simple ingredients.
Here's how she did it.

Hitting bottom is the first step
As her emotional spending spiraled out of control, Matulock knew she had a problem brewing.
"Almost every morning before work, I'd be on the computer ordering things from The Gap and Old Navy. The packages would show up, and my boyfriend was like, 'What's all this stuff?' And I'd say, 'Don't worry about it!'"
Struggling with debt? Ask a credit counselor today, free
Even when she was paying $400 a month to one of her cards -- and charging another $500 -- "they were just numbers. None of it felt real to me. I knew I was going through a hard time, but I couldn't admit it."
Matulock was forced to face financial reality when she opened one of her credit card statements and the minimum payment was $1,000. Not only had she gone over the limit, incurring fees and penalties, but her interest rate had skyrocketed to 28%.
She panicked. "That was my slap in the face," Matulock says.
Matulock was desperate to get her life and money back under control. The same week, she saw a story about an online community of women digging their way out of debt together. "I said, 'Wow, do I need that!'"

Rescued by some Women in Red
Matulock did hardly any work that day.
"I just sat at my desk, reading through the entire thread about the Women in Red Racers."The Racers are a group within the Women in Red message board. They were founded by Becky Purvis, a teacher in North Carolina, and others. The Racers are the lifeblood of the WIR, with their determined focus on "racing" to pay back debt. (So far, they've paid off $4 million.)
Matulock joined the Racers on the spot. The Racers' method is deceptively simple:
Calculate how much you owe, down to the penny.
Share the debts you plan to pay off with the other members of the WIR on the message board. (People use pseudonymous screen names to protect their privacy.)
Keep an account, on the board, of how much you pay down each month. Acknowledge any setbacks (they happen).
Ask for advice when you need it, give it when it's asked for and enjoy knowing that you're all in it together.
This is a race in which everybody gets to be a winner.

For some financial transactions, you should use a credit card instead of cash or a debit card -- even if you have the money in your pocket.
Within a year of joining the Racers, Matulock had paid off $15,350.20 of her credit card debt.
It wasn't that she found extra money for card payments or got a whopping raise or even a second job. Matulock made astonishing progress mainly by following the first and most basic step: Quit using plastic.
And, she discovered, there truly is strength in numbers.
"I was focused, I was organized, and I knew I wasn't alone," she says. "Being part of the Women in Red meant so much more than I realized."
Continued: Enter the 'Today' show

Enter the 'Today' show
Then the "Today" show contacted me last spring to ask whether any of the Women in Red would consider being part of a show on debt, Matulock was the first to raise her hand and volunteer.
Matulock didn't think Chatzy, the show's anchor and a financial expert, would find much to trim in her budget, but she agreed to the "Today" show plan:
Matulock would take three months to track her spending, religiously, every day.
She would aim to pay down her remaining $400 in credit card debt a month early, in September, when the show would be taped and aired.
In addition to paying off her debts, Chatzky insisted that Matulock join the 401(k) plan at her job, contributing 3% to get the available match from her employer.
Chatzky also helped Matulock save money by renegotiating her cell phone contract (saving $30 per month) and raising her car insurance deductible from $250 to $1,000, for a $320 savings on premiums for the year.
Matulock notes that you can't just raise your deductible that much without planning for it. So she put her economic stimulus check into a savings account earmarked "car deductible" so she'll be covered in the event of an accident.

We all hate it, but it works
Matulock's appearance on "Today" was a success. She paid off her last credit card in September, she joined her company's 401(k) plan, and she now has put away almost $500 for retirement, plus an additional $600 into savings.
But of all the things she has done, Matulock says, doggedly tracking her spending is what has made the biggest, continuing difference in her financial life.
She bought a little spiral-bound notebook that she always keeps in her purse. In it, she jots down every penny she spends. If she can't find the time to write down an expense, she puts the receipt in the notebook and does it later.
Tracking spending is by far the most feared and loathed financial task known to woman (or man). Most people can barely do it for a week. Yet Matulock is still monitoring her spending, more than four months after she began.

It keeps her honest, she says. But more important, it stops her from spending. "It's like being on a diet and having to record what you eat. You're not going to eat that cookie if you have to write it down," she says. "I am less likely to recklessly spend, because I know I have to write it down."
It doesn't sound like a lot, but by tracking her expenses, Matulock was able to save $10 one week, $40 or $50 the next. It added up. She was careful to put those savings nuggets toward her debt.
It's still adding up. Matulock has now paid off all her credit cards and part of the $5,000 personal loan she owes: a total of $18,531.19.

For some financial transactions, you should use a credit card instead of cash or a debit card -- even if you have the money in your pocket.

'Still trying to find the balance'
Matulock has freed up $600 per month in cash, which she is saving until the end of the year ("I want to have a cash-only Christmas," she says). At that point, she will save half the money in an emergency fund and put the rest toward her remaining debt.
But as Matulock now knows, from being down and back twice, you can't put your finances on automatic pilot. Financial sanity has only one cost: constant vigilance."I'm still trying to find the balance," she says. "I still wish I could go buy that skirt. But then I stop to think: I could put that money toward debt or savings or something more important."
Matulock knows that slow and steady is the way she'll win her race. "It can be frustrating when the debt isn't falling away as fast as you want." But she remembers an important motto she learned from a fellow Racer: You didn't get into debt overnight; you can't get out of it overnight. "I remind myself that by sticking to a plan, at least I'm making a dent. And that's still progress."

Published Oct. 8, 2008

<-- Source: http://articles.moneycentral.msn.com/SavingandDebt/ManageDebt/put-your-debt-on-a-simple-diet.aspx?page=all

Overview

This page is part of raritavi portal:

1. raritavi-concept
2. raritavi-spiritual
3. raritavi-physical
4. raritavi-intellectual
5. raritavi-social
6. raritavi-financial
7. raritavi-mental

Every part would be prepared for being portal of corelated (original or adopted) ideas.