No-Nonsense Student Cash
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Posted by:
saversnews
The first steps into the big bad world are always tentative ones. Suddenly there are bills to pay, books to purchase and phone credit to cover. With all of that to consider, your student loan is probably looking like a pathetically small amount. Rent alone takes an enormous chunk out of it, and that's before mentioning heating, food and drink. Here's some general survival advice on how to live as a student.
 Firstly, budgeting. This is extremely important, so learn it. Open up your copy of Microsoft Excel and create a table outlining your outgoings. All the essentials go here – food, bills, rent; the whole lot. Make sure you don't miss anything because it could cause you a serious inconvenience later. Be sure to prioritise. Would you rather have that new CD? Or would you rather have the heating on today? Once you've made your budget, you need to stick to it, otherwise it's a pointless exercise. Secondly, a lot of the courses will require you to purchase books to study with. Make sure you deal with this ASAP – if you order way in advance, the chances are you'll be able to pick up a cheap used copy on the Internet, and it won't matter how long it takes to get here. If you wait until the day before you need the book, you'll have to spend money in a book shop, and those are always more expensive. This little rule goes for practically everything. If you see it on the high street, chances are that you can find it on the web for cheaper.
And finally, have a look at your student card. See that logo which reads NUS? Don't be afraid to use it. This little card entitles you to all sorts of discounts, and it can be used in many places from popular clothing brands to the little sandwich shop next to the bus stop just down the road from university. If there isn't a sign promoting student discount, then ask at the counter anyway. After all, what do you stand to lose, aside from the potential discount if you don't ask?
Tags: Student, Cash Saving, Guide, Advice, Budgeting
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The Right Bank For You?
Reason
Posted by:
saversnews
Opening the right bank account to suit your saving and investment needs is a confusing decision. When it comes to savings accounts, there are a few different kinds and it's up to you to decide which one suits your need.  Are you looking for an account you can instantly access when you need it? Here are a couple of suggestions of bank saving accounts in the UK that can help you do just that:
• Bank of Ireland (UK) offers an AER (Annual Equivalent Rate) of 3.05% and a 1.25% (12 month) bonus rate and can be accessed through the internet. The minimum deposit for this Instant Access Savings Account is £1.
• Santander eSaver Issue 4 is another option with a 3.10 % AER and a 2.60% bonus rate and is also accessed through the internet. Again, the minimum deposit for Santanders Instant Access Savings Account is £1.
If you have a habit of spending your money a little too quickly, you can try a notice savings account. This type of account may require you to give up to 90 days of notice before withdrawing, which could help you to plan and budget your money wisely. Here are a couple of bank saving accounts that can help you with your budgeting:
• Manchester BS Premier Notice Issue 37 offers an AER of 3.16 % and a bonus rate (12 months) of 1.5%. Notice period is no less than 35 days and Manchester requires a 1,000 pound minimum deposit. It has postal or branch access.
• Aldermore 90 day notice has an AER of 3.10% and doesn't have a yearly bonus rate. You are required 90 days of notice before withdrawing. Aldermore also requires a 1,000 pound deposit and can be accessed through the internet, branch or postal.
The best kind of account to go with - if you seriously want to save funds - is a 1 year fixed-rate savings account. You leave your money in for a year with NO withdrawals. A couple of suggestions to allow you to do so are:
• Yorkshire Bank Term Deposit has an AER of 3.60% with a minimum deposit of 2,000 pounds. It can be accessed through the branch or internet. Customer score gives it a 61%
• Clydesdale Bank Term deposit has an AER of 3.60 % as well and requires a minimum deposit of 2,000 pounds that can be accessed through the branch or internet. Customer score is at 46%
Tags: Banks, Accounts, Access, Savings, Rates
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Avoiding Bad Investments
Reason
Posted by:
saversnews
When dealing with the stock market, the main thing you should keep in mind is unpredictability. A common mistake that people make when dealing, is the idea that they have a way to predict the market. This method will not enable you to earn maximum returns on your investments. It may be positive for a short period, but eventually you will lose. Financial guru, Larry Swedroe, has been in the stock market for a long time. Below are some of the five practices he believes you should stay clear off if you want to avoid making bad investments in the stock market. • Timing the market Believing that you can time the market, buying low and eventually selling high, is a fantasy. Most people who try timing the market end up frustrated and give up. Some end up buying high and selling low. Therefore, it is a better practice to concentrate on average buying and selling. Buy when the prices are moderate and sell the same way. You will not make extra ordinary profits, but you will also not have any extra ordinary loses. • Over confidence Do not believe in yourself too much. A little caution is needed when dealing with the stock market. Otherwise, you will end up buying too fast, without all the information you need to make good judgment. If you are not diversifying your stock holdings, for instance, chances are you are over-confident. The same applies to people who trade too much. In the long run, your stock investment will not have got you those good returns. • Great company ideology Many first timers in the stock market believe that the well-known companies make great stocks. In a limited capacity, this is true. However, these companies have been in the stock market for a while. Therefore, their high returns are inclusive in their high premiums. So when you buy into them, the returns are usually lower. You should look at the prospects of all the companies and not just invest in the larger companies as they too might disappoint you. • Listening to experts Several experts exist in the stock market and they all possess various opinions and ideas. Some will convince you when to sell, buy and even when to keep hold of the stock. You should not rely too much on their forecasts and predictions. Just like your own predictions about a market may be wrong, so may those of an expert.
Tags: Investments, Dealing, Stock Market, Returns, Buy
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How Does a CD Make Money?
Reason
Posted by:
saversnews
Not referring to the classic Bon Jovi disc lying on the car seat, CDs refer to a type of financial investment. Standing for ‘Certificate of Deposit’, CDs are like an investment in which is very low risk. Comparable to a savings account, CDs are deposits that grow and make money over time. CDs are issued by various financial institutions, including banks, a company’s credit union, or a Savings and Loan Institution. A savings account is a very secure low risk way to accrue, or slowly receive interest on return for depositing an unlimited amount. On the contrary, a fixed amount is deposited into a CD account and like a savings account accrues interest, but at a higher rate. CDs can be classified as an investment that is not as low risk as a standard savings account, but less riskier than stock. It is most recommendable to keep your money for the fixed time period, unless the investor is willing to pay the consequence. Investors choose anywhere from 3 months up to 5 years to keep the amount in an account (the higher the amount invested, the higher the interest rate) until it has reached maturity. At this time, the investor can withdraw the new amount. Money withdrawn ahead of the matured time will face penalty. These penalties depend on the specific financial institution’s policy. One example: the institution will take back interest earned in the past few months, which is essentially a fine for having withdrawn. It is less suggested to pull out money ahead of time, but consumers sometimes find themselves in a dire need for fast cash. Carefully review interest rates (always compounded) and penalty fees from various institutions before making the pick. Also, it is a huge advantage to buy into more than one CD account with different periods. Then, once the shortest period fund matures, it can be invested into a longer period fund to increase returns; this ladder effect is part of many diversified investing strategies used.
Tags: CD, Investment, Accounts, Interest, Mature
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What about Groupon?
Reason
Posted by:
saversnews
Groupon: it seems to be deal heaven and yes, they do offer awesome deals on these sites, but look deeper to find out how you can get the most out of them. Here are some tips: • Holidays! Groupon offers deals on certain Holidays. Keep an eye out for them. • Give Groupon gift certificates. You avoid paying shipping costs and your presents will be worth much more than what you paid. • You can earn $10 discounts by inviting friends to participate in Groupon. • Personalise your Groupon account, adding your post/zip code, gender or age to see the deals that are relevant to you and the area in which you live. • Check the ‘use by’ date. Vouchers do have an expiration date. You don’t want to get a great deal and then suddenly realise you can’t use it anymore. • Check out the reviews of the restaurants or hotels you can get deals on. You may get a deal for a place that you should even pay less for. You can’t always believe every word you read in reviews, but when you see more than say 3 or 4 negative reviews on a place, be careful! • Don’t buy stuff just because it’s cheap. Before you know it, you could have spent a whole lot of money on a whole lot of nothing. Look for the deals that matter the most to you personally. Unless, of course, you find deals that you might need later on, such as beauty salon deals or yoga classes, just always be sure to check the expiration date. • Look on the Groupon site on the days when you plan to have some time off or do something fun, thus finding deals for that day. • Be careful with beauty or health deals. It’s great to find a cheap deal on medical or beauty as these things are usually quite expensive, but be wise and make sure that you are being attended to by quality professionals.
Tags: Groupon, Deals, Tips, Holidays, Gift Certificates
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Ways to Reduce Travel Costs
Reason
Posted by:
saversnews
Word gets around about favourite classic movies as producers come out with bigger, more colourful and more costly films. You remember who your favourite actors were, which one was the most popular at the box office, but what movies were the most expensive to make and why? Made over forty years apart, the reasons for these two big wallet floppers are as distinct as the time they were made: “Titanic” cost a whopping 272.6 million, due to so much water use and “Cleopatra” cost a whopping 314.6 million, due to poor planning.
Travelling back in time to 1963 when Cleopatra was made, Elizabeth Taylor was the main damsel along with her then husband Richard Burton, a fine king and queen. This steamy relationship brought the movie much attention, along with its extravagant scenes and costumes like when King Caesar was welcomed into Egypt.
Relocating twice during the film tended to over stretch the budget, Cleopatra started its filming in Rome, later moving to London, then back to Rome. This was due to poor planning, or maybe because the whole project had bad direction. The first director was canned after a significant period of time – with no shots to prove for his investments.
Jumping forward back to the age of that popular Celine Dion song My Heart Will Go On, there is nothing more romantic – or expensive for that matter than watching a love story unfold on the high, icy seas. No, this film was not filmed in the ocean, but in two separate, indoor and outdoor tanks filled with thousands of gallons of water. Bill Paxton's character had to do a lot of expensive research looking for that blue ‘Heart of the Ocean'.
Is billions worth the viewing pleasure? Getting a sneak peak of how Taylor and Burton romanced in a Romanesque – Egyptian style may not be too appealing to a contemporary audience. The lesson learned from this is to choose a good director and put some directing into how to organise a movie. Celine Dion may agree that love on the high seas is worth the investment since obviously she receives a direct benefit.
Tags: titanic, movies, classic
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Try These Saving Tips
Reason
Posted by:
saversnews
Looking to save? Aren’t we all? With the economy the way it is, it can be difficult to know where to trim down or stop spending. Here are some tips to help you save some cash, but still enjoy life and live happily while you are at it. • Cook at home often. It’s cheaper than regularly eating out. Save eating out for the weekends or when it’s unavoidable. • Buy generic products. You don’t NEED to have name brand products or clothing, but do keep in mind to buy quality. • Avoid impulse buying. It’s easy, when you see something you want, to buy it right then and there, but a little bit of patience can pay off and ensures that you get the right thing at a good price. • Ride your bike and avoid the car. If it’s convenient for you and you live close to where you work or study, ride the bike. It saves you from spending money on petrol, which, let’s face it, is one of the biggest uses of our money. • Keep an eye on your plugs. Anything you have plugged in, even when it’s turned off is still using power. Unplug your computers, mobile phones and microwaves when not in use. • Book holidays or trips early. You can get great deals on flights and trips if you book in advance. • Walk more, take transportation less. Most public transport is not that expensive, but it does add up. If your desired destination is close, say a couple of kilometres, why not walk? It’s healthier and may save you quite a bit of cash. • Cut down on drinking. Cringe. Easier said than done, but drinks aren’t as cheap as we’d like them to be and people don’t usually end the night with just drinking one. You can end up spending quite a bit of your savings by giving in to “just one more”. • Quit smoking. Cringe. Again. But smoking is a BIG money spender. If you’re used to smoking a lot and are wondering “where did my money go”? Well, check out that little box in your hand. • Spend less time on the phone. Phone bills can be costly. Spend more time communicating with your internet connection, which you need for other uses anyway, through Skype, Facebook or email.
Tags: Tips, Cooking, Brands, Impulse Buying
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Tips to Cut Down Costs
Reason
Posted by:
saversnews
We all know it, but we all do it. Grocery shopping while hungry could be the biggest bite out of your wallet. You end up thinking you’ll want to eat, well, just about anything on the shelves. You get home and realise that you’ve overspent your food budget and well, you don’t need half of the items you bought. Another money waster while shopping is going to the store without a plan or idea of what you want to get, which in turns leads to paying more for something that you could find a substitute for, for less. Here are a few ideas to help you avoid overspending: • It may seem obvious, but many people don’t do it. Make a list. Write down what you normally like to eat in a week and add a couple of other ideas. Then when at the shop, stick to the list. It may take a while to get used to shopping like this and you may at first forget a couple of things, but after you’ve made it a habit, you will see how much less you end up spending on food. • This one can greatly help the previous idea. Make a weekly meal plan. Write down a menu for the week, remembering all the ingredients needed for each meal. For one, you can plan cheaper but equally delicious meals; and two, it helps you to make a more organised and comprehensive list of what you really need to buy. Occasionally allow yourself to step outside the plan and buy extra treats. • Don’t be afraid to spend time shopping. It may seem like that is a counterproductive, but the time you spend looking for better deals in different stores can save you more money than you realise. Of course, don’t overdo it to the point where you spend all day shopping as time is also money.
Tags: Tips, Shopping, Budget, List, Time
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Tips and Tricks of Investing
Reason
Posted by:
saversnews
Many have made the mistake of relying on logic used in other spheres when it comes to investing. Investing is a different business and hence you have to learn how it works and how to master the use of it. Here we will present some tips and tricks of how to learn and master your skills in this field. As you learn, grow, and better your skills your investments will become better and your fears will diminish. The first tip of the trade is to not flinch. Worrying does not in any reality have any advantage for you, and though it will be hard to master fearlessness, it is an invaluable asset that will assist you in the future. If you can gain this skill, it will be one of the greatest you have in order to save your mental sanity. The next tip is to diversify. Don’t only go with one method or one mode of operation. Try things out and figure out a style that works for you whether that be short term investing, Forex flash investing, or long term slower gains. Depending on your current financial position your options may be limited, but try not to let that stop you. You can beat and master any limitations to your investing abilities. Lastly, reinvest your dividends. While it is essential to pay yourself back, at all costs aim to return all other dividends possible to investing so that you can grow your portfolio and continue to advance in capital. Owning up to the fact that progress is slow will teach you how essential this tip is and it may save you in this area in the long run. There will be losses and gains felt on all sides, but as you fulfil this obligation, you will continue to grow and become more financially able.
Tags: Investing, Tips, Tricks, Skills, Diversifying
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Saving Energy : Saving Money
Reason
Posted by:
saversnews
Money! It comes and it goes along with energy and electricity. It's not always easy to remember those money/energy saving habits, but it's important not only for your pocket but the environment as well. Here are some easy ideas to remember that can help you to save energy:
• Take a bath. Yes, take a bath. Not only is it relaxing, it saves on your hot water that requires electricity to heat it.
• Set your computer to sleep mode to shut down after 30 minutes of no use. This actually saves you a lot of money as your computer running without being used, use up a lot of energy. We know it, but it's easy to ignore it.
• Replace incandescent light bulbs to energy efficient florescent bulbs. As annoying as they can be, they'll cut down your costs.
• Take a ride with your friend or take public transportation when going somewhere.
• Install water-efficient fixtures in toilets and faucets. It may be somewhat of a hassle to begin with but the better choice in the long term.
• Turn down the heat or air-conditioning when not at home or when going to bed. These two are some of the biggest energy and money spenders.
• The following one goes without saying, but still, we got to say it. Turn off appliances and lights when not in use. It's so easy to forget them, but important to remember them.
• Insulate your house and seal leaks. You'd be surprised how much money and energy is wasted due to leaks. You may have to spend a little bit of money to bring in professionals to do the job, but the cost is minimal in comparison to the price you'll pay if you don't.
• Buy an energy efficient refrigerator. Refrigerators need to be plugged in all the time to keep your food from going to waste, so make sure to look for one that will work well without leakage. The Energy Star label is often a suggested buy.
Tags: Money, Energy, Savings, Tips, Efficiency
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