Save Money on Bills

In previous blogs I pointed out some ideas that will help families save money with their grocery bills, entertainment and dining out bills, and much more. Today I am going to focus on the “fixed bills” – the ones you can not get rid of such as utilities and more. If you missed the previous posts please take some time and read them here.

How to Save Money on Your Phone Bill…

1. First thing you need to do is decide if your household needs both traditional and cellular phones.  Many modern households have done away with landlines and have gone strictly mobile, unless you absolutely have to ditch the land line.
2. If you do want separate mobile and house phones consider the Magic Jack.  I know the thing looks like a TV gimmick but it’s really a VOIP that uses your internet connection to place calls and can save you tons of money on your phone bill.  You can replace your phone bill and pay less than $30 a year.
3. Monitor your cell phone usage to fit your needs, for instance as much as I tried I could not limit my text messages so instead of consistently paying overage fees I opted for a larger plan.  Yes it was more money but at the same time I now don’t pay any fees so overall I’m still saving.
4. Try using Skype for some of your needs if not all. While not as pretty packaged as Magic Jack, Skype is a free software that will turn your computer into a phone. More over, Skype which is owned by eBay, sells phones that will piggy back on any wireless connection and make phones local as well as international. Imagine taking your Skype phone (with your phone number registered to it) to a Starbucks and still be able to answer calls made to your house number. With increase Wifi and WiMax coverage in many areas, those wireless phones are virtually always on an internet connection. A monthly membership is just $5.99 and it comes with all the features – voice mail, caller id, dedicated number and numbers in different area codes to make it easy and cheap for your family to call you.

How to Save Money on Cable Bills…

1. If you don’t mind losing your premium channels you can get rid of your cable provider and watch everything you need online for free.  Check out this list of Free TV on PC websites.

How to Save Money on Energy Costs…

Even though winter is coming to an end there are many things that you can do to save money on energy costs year round.

1. Whenever buying new appliances look for the energy star rating for low electricity using items.
2. When running Air Conditioning or Heat make sure your windows and doors aren’t seeping air.
3. Save money by unplugging your most energy consuming appliances when not in use.  Not sure what each appliance takes up even when not plugged in, find out what each appliance uses and at least unplug the worst offenders.

A great overall tip when it comes to saving money on bills is to not be scared or ashamed and simply ask for deals from each service provider.  For instance if you hear about a new promotion only available to new customers, no problem, call customer service and have them apply it to your account under threat of switching services.

Family Summer Fun

To continue our coverage of the 8 simple ways to revamp your home budget and save money in 2010, this post will cover savings on your Travel, Vacation and Entertainment category. If you have missed our previous posts about saving money in 2010 please read our previous entry (part 2) here.

Spring is here and summer will come around the corner in no time. Most American families will soon start planning for their yearly summer vacation and I think this post will really be helpful with this planning as far as saving some money. So without further delay here are some of the most important and effective ways to save money on your next summer vacation.

How to save money on your Vacation:

1. Vacations are a necessary part of a balanced and sane life but they can be expensive. You can cut the cost of a vacation significantly by planning and booking ahead of time. Bookmark travel sites for finding inexpensive airfare, hotels, rentals and so on.  If you know your schedule try to book months in advance to save money.
2. Look online for sales and discounts before making a purchase. For example, use travel deal sites like Priceline, Expedia, Travelocity, and Hotels.com before booking so that you can make some comparisons.
3. One unique way to save money on travel is to stay in hostels instead of hotels, they offer much cheaper rooms and a more lively experience.  This is a great solution for younger people, families with children should check ahead to see if private rooms are available.

If you enjoyed this list of ways to save money please share it with others and I know that saving money is a vast topic with tons of info so feel free to add any of your own additional methods in the comments below.

How to Save Money On Your Entertainment:

1. This is another situation where the entertainment book is crucial to your savings.  The closest theater to my house is a Regal Cinemas which charges a whopping $10.00 per adult ticket, the entertainment book contains 12 coupons which let you purchase 2 adult tickets at $7.00 a piece.  That’s a 30% savings and comes out to $6 saved per movie trip.  If you and a friend see just 3 movies this year these savings alone will cover the cost of the book.
   
2. The other option is to see movies in matinee show times, which around here will save you $2 of the ticket price.  This is a good strategy but difficult to pull off on date nights and weekends.

International Stocks

A recent poll on stockweb.com has returned some amaizing but all expected results regarding the best investments for 2010.

The poll asked a simple question ” What are the best investments vehicles for 2010?” and this is how the answeres totaled up:

• International Stocks 50%
• Energy Commodities 35%
• Precious metals 35%
• US stocks 28%
• Soft commodities 17%
• Bonds 14%

According to this numbers there is a feeling of optimism transpiring and validates a solid faith in an economic rebound. However it is interesting to see that 50% of participants indicated International Stocks as their best approach to investing in 2010. It’s interesting because not longer than 5 years ago when I was running a hedge fund, this particular investments were labeled as above normal risk and many investors steered clear of emerging markets such as Brazil and Argentina to name a few.

Today, partly due to a much more cohesive and fluid world stock market, these investments are more and more appealing and one does not have to buy shares in a mutual fund dedicated to international stocks but can rather personally place a buy or sell order on the Moscow stock exchange or Buenos Aires or other. Back in 2005 Charles Schwab through their institutional accounts branch would charge me up to $1350 one way – either buy or sell – for a trade. Today E*Trade and other major brokerage firms will charge as little as $21 for trades in Germany and France.

Before you get the fireworks out and start celebrating make note that “Emerging Markets” are still subject to high commissions and trade fees not to mention that are still considered a very risky investment tool. If you can;t afford to loose the money – don’t place the trade!

If it was for my money, I would go – like always did – with Fidelity Investments (preferably the institutional desk if you can) or American Express Advisers (if your net assets allow you access to them).

Concept of working from home sounds great with big benefits but one cannot ignore the fact that profit margins are slim in a home business. You need money to get it going… money that most of the people don’t have when they start a home business.

Sometimes, people new with their home business do not have an idea if they are really earning or loosing money and I assume that only in few cases a fellow home business owner is able to hire an accountant to calculate the Profit/Loss sheet.

Well, I bring you some tips that will help you discover tips to start your home business on a shoestring budget. These guidelines will certainly help your business get running with minimum expense.

Let’s check out how to get smart with your home business budget.

• Get a reasonable hosting package:

Firstly, when you start a business, you need to get yourself hosting. Although there are a lot of hosting packages out there but you can get good hosting for a startup business for $5 a month.

• Acquire business domain for 10 years:

When you purchase the domain for your business, get it for 10 years because you get a deep discount for registering your domain for more than 1 year.

• Purchase home office equipments smartly:

Try purchasing your home office equipments on lease, so that you don’t find it hard paying lump sum big amount.

• Buy Intel Based systems:

If need computers for business, purchase Intel Based from previous generation (unless you need massive amounts of CPU usage for some sort of NASA project ) as they are quiet cheap and if speed is not a very critical issue, then these older machines can help you get all your work done with only a marginal difference in time. You will never be able to type as fast as the processor can compute so really what is the real difference between core duo and 2.6Ghz single core? None that you can see – again unless the human genome decoding IS your home business .

• Make deals on returnable basis:

If you are into some kind of retail business, try purchasing products on returnable basis; (in case you are unable to sell the products within a certain period, your supplier agrees to take it back).

• Use low cost methods:

Use low costing methods for advertising your business… Flyers, business cards and getting a website designed are no more processes that are expensive.

• Hire your family members:

Instead of hiring additional employees, encourage your family members to join you and work with you at reasonable wages. It will not only save you money but also your family members will make a bit of money on the side plus it will bridge that gap between business and time spent with your family.

• Look for a suitable bank:

Don’t create an account in a high profile bank, instead of it try finding a bank that does not charge you for unwanted services and offers you the packages that you actually need. Smaller local banks tent to be more knowledgeable to the local economic conditions and also more aware of your situation and how your business is doing locally. When it comes to getting a loan later they will be a lot easier and better to deal with that a mega bank from somewhere like New York City.

I am sure these simple tips will greatly reduce your business start-up expenses and get you on your way to run a successful and profitable home business. By no means do they represent a fit all or a comprehensive lists for starting your own home business but they will help you make the first steps and avoid little mistakes that can cost you a lot. I will be writing a blog on how to start your home based small business later on that will have more information and will provide a more comprehensive approach. Sign up to receive my blog newsletter and follow us to receive future blogs and tips to help start your own small business.

The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone’s sovereign debt troubles.

Bank of America shares lost more than 3 percent, while JPMorgan slipped 1.6 percent, and Citigroup shed 2.2 percent.

The S&P financial index dropped 2.2 percent as the KBW bank index dipped 1.5 percent.

Concerns about the fiscal stability of Greece, Portugal and Spain have rattled global markets over the last two weeks, curbing the appetite for riskier assets.
“The market is still being pressured by concerns about Europe, and banks are being pressured more so because of their possible exposure to the sovereign debt issues, specifically that of Greece,” said Frank Pavilonis, senior market strategist at Lind-Waldock in Chicago.

Wall Street has slid through critical levels, with the Dow now back below 10,000 and the benchmark S&P 500 now off 8.1 percent from its 15-month closing peak of January 19. The S&P 500 is still up 56.2 percent from its March 2009 bottom.

The Dow Jones industrial average slid 103.84 points, or 1.04 percent, at 9,908.39. The Standard & Poor’s 500 Index dropped 9.45 points, or 0.89 percent, at 1,056.74. The Nasdaq Composite Index declined 15.07 points, or 0.70 percent, at 2,126.05.

Bank of America shares fell to $14.48, while JPMorgan dropped to $37.70. Other financial sector casualties were Travelers Cos Inc, the largest publicly traded U.S. property-casualty insurer, off 2.5 percent at $49.05 and American Express Co, down 2.8 percent at $36.79.

The financial sector is also under pressure due to tougher rules the Obama administration proposed recently to curb banks’ risk-taking. The sell-off was broad-based, with all but two of the 30 Dow components ending lower.

On Nasdaq, shares of Apple Inc, the maker of the iPhone, were a major drag, ending down 0.7 percent at $194.12. Chipmaker Qualcomm Inc also fell, sliding 1.4 percent to $37.51.

A brokerage upgrade helped Home Depot Inc buck the negative trend, rising 2.2 percent to $28.59. In its upgrade of Home Depot, Morgan Stanley said it was optimistic about the home improvement chain’s prospects as the housing market begins to recover.

Other gainers included Hasbro Inc and CVS Caremark Corp, both of which rallied after reporting stronger-than-expected fourth-quarter results.

Hasbro, the No. 2 U.S. toy maker behind Mattel Inc, also said it expects its revenue and profit to rise in 2010, sending its shares up 12.7 percent to $34.71. CVS rose 5.3 percent to $32.72.

Market Data and Commentary provided by NY Daily.