SAVING MONEY

They usually say “cash is king,” and they have a point.

Just take a trip down memory lane and try to remember all the bad presents you’ve received over the years. Well what if instead of those awful gifts, you received their cash value deposited into a savings account? You’d be surprised at how much a lifetime of bad presents amounts to.

Men want women and women want money. That’s a fact of life, or at least what most people are led to believe. Though the notion seems archaic, influences in media, entertainment and marketing machines oh-so-subtly suggest and continue to reinforce the idea that the common bond between most men and women comes down to a few dollar signs. So how accurate is this characterization of gender money matters?

I’m Not Saying She’s a Gold Digger, But…

Do you set a budget for the holidays but wind up going into the red every year? It’s a common problem and one that many of us share. In fact, the average American spends about $700 on gifts during the holidays and that’s not including décor, food, gift wrap and other expenses.

Adding money to your bank account must seem impossible when you’re among the 9.8 percent of unemployed Americans–and have been for a while. Fortunately, if you’re innovative, you may be able to rise above the high unemployment rate and find enough success to pay your bills and even contribute to your savings account.

Unemployment Increases to 9.8 Percent

What if I were to tell you that you can get $8 for every $1 that you save? Would you be interested? Of course you would. You’d be crazy not to be. So it’s odd that more people aren’t taking advantage of the special savings accounts known as Individual Development Accounts provided by some government, non-profit and financial organizations to promote savings within low-income communities.

However, before you start seeing dollar signs in your eyes, understand that most IDA programs offer a one-to-one to three-to-one match for every dollar you save, which is more than generous, but there is a catch before you can take advantage of those benefits. Even those requirements are designed to help you achieve your financial goals, though. IDAs sound almost too good to be true, right?

The days are getting shorter and colder, which means you’ve probably noticed your energy utility bills slowly creeping upward. Though you probably expect to pay more in energy costs during the winter season since you now have to heat your house, you may be surprised to learn that you’re also shelling out more cash because energy itself has become more expensive.

Every year, the Congressional Research Service forecasts how much residents in the U.S. can expect to pay to stay warm. This year, you’re looking at an average of just under $1,000. This means when you’re planning your budget, you’ll have to account for this added expense (especially if you live in the Northeast).

While most people talk about budgeting for Christmas gifts when planning for the holidays, few really discuss the financial strategy behind shopping for Hanukkah. After all, managing expenses for eight nights of gifts during the Festival of Lights requires an entirely different approach than that of buying one large present, especially when it comes to shopping for multiple people.

Though eight gifts certainly sound better to the person receiving them than just one, most Hanukkah presents aren’t major purchases like the ones people are accustomed to during Christmas. The tricky part here is that you can’t just throw money at this year’s hottest toy and mark it off your checklist. A successful strategy will require more thought and better budgeting skills, because as we all know, it’s the little purchases adding up that get you in the end.

Cyber Monday is the online follow up to Black Friday and offers a ton of great deals, so don’t miss out because holiday shopping doesn’t fit your budget. If you want to get the most bang for your buck while doing your online holiday shopping, consider the following Cyber Monday shopping tips.

Tips to Keep Your Bank Account Intact

When most people think of depositing money at a financial institution, banks usually come to mind far more often than credit unions. This is mainly because many people consider credit unions to be exclusive clubs that only a select few can join.

However, times have changed and now just about anyone can join a credit union in their city. Plus, the really good news is that joining one often offers perks that banks just can’t compete with–so much so that they help you save more than what is already in your account.

Losing a job can be one of the biggest financial crises anyone faces during their lifetime. One day, you’re financially stable and the next you’re unsure you can make next month’s mortgage payment. Getting through an extended period of unemployment can be really difficult if you’re not prepared, so when your employer at the very least offers you a severance package, you need to know how to make the most of it.

What Is Severance Pay?