Money Saving Tips for Journalists

Working as a journalist can involve a lot of travel to do interviews for newspapers, television or radio and can rack up many expenses that can occur at the last minute that may not be covered by your job. These expenses can make it difficult to make ends meet and live day-to-day.

Due to the economy and company cutbacks, many journalists have to cover expenses that were previously covered by their employer. In other instances, journalists have to pay for travel or work related expenses upfront and then get reimbursed later. To save money create a budget and look for ways to reduce expenses. Here are 8 ways for journalists to save money:

1. Travel Discounts. Comparison shop for discounts on parking or air, hotel and rental cars or buy as a package. Some companies that provide discount fares LongTermParking, HotDeals or Kayak. Sign up for online alerts with airlines to learn about their weekly specials. Search for fares early in the morning or on weekends. Check to see if they accept discounts for membership to Diner's Clubs, AAA, AARP, etc. This can save you $30 to $175 per transaction. Check social media sites for discounts.

2. Supplies and Expenses. Shop for office supplies at Costco or online sites such as Amazon, eBay or Craigslist. Consider setting up a home office. You can write off a portion of your mortgage and utility bills. If you do not have space for a home office consider using a telecommuting or telework center at companies such as Regus or the World Environmental Organization or search online for additional telecommuting sites. This can save you $50 to $100 per week in supplies, wear and tear on your car and gas. Check social media sites for discounts.

3. Food. Pack you own drinks such as water and juice along with your favorite snacks. Search online for coupons to your favorite restaurants at site such as Groupon, Living Social or Bloomspot. Sign up for free restaurant newsletters to receive coupons or to find out about specials. This can save you $30 to $200 per month.

4. Car Maintenance. Perform regular maintenance on your car by keeping your tires properly inflated and balanced which improves mileage. Save money on gas by using the lowest octane which is usually 87. Fill up your gas tank before going to work or in the evening when it is cool. Drive the speed limit and keep the trunk weight light. Pay for gas with cash. This can save you $.05 to $.30 per gallon.

5. Insurance. Make sure you have health, life and disability insurance. If you need to see a doctor you won't have to worry about paying medical bills. If you become sick for an extended period of time you won't have to worry about paying medical costs. Contact eHealthInsurance.com or Aflac for health insurance quotes. Also consider opening a Health Savings Account. If you need disability insurance contact the Assurity company. This can save you $20 to $200 per month.

6. Use coupons. Use coupons to save money when shopping. Search for online coupons at sites such as Coupons.com, CoolSavings.com, and Couponmom.com. This can save you $20 to $250 per month on your grocery bills and other household costs. Check social media sites for coupons.

7. Go green. Try eco-friendly ways to save money. Visit sites such as Bankrate.com and MSN.com and search for ways to save money going green. This can save you $20 to $500 a month.

8. Phone calls. Use your cell phone to make free long distance calls. Contact your cell phone provider to determine the code to interrupt a voicemail greeting. When leaving a message skip the voicemail greeting and go right to the beep to leave a message. Also, if you make a call during peak hours ask the person to call you right back so they pay for the call. This will save minutes and save money on your cell phone bill. Send text messages for short conversations instead of making a phone call to save minutes. You can also use Google talk or Skype to make free phone calls.

These tips will reduce many of your work related expenses and your financial stress, allowing you to focus more on your work assignments and become more productive.

Do You Really Need a Car

Since the recession many Americans have been forced to make financial sacrifices and cutbacks to reduce spending that they normally would not have considered. One big expense that most Americans have is their car. Consider selling your car to improve your financial situation.

I know, life without a car can be devastating and you will have withdrawal symptoms. You will start considering what people will think if you don’t have a car. Forget about what people think and consider your future. Do you want to be debt free or do you want to be 65 and still working because you don’t have get enough in Social Security to pay all of your expenses. It is never too late to change and take charge of your finances to prevent a financial disaster.

The cost of owning a car includes depreciation, sales tax, gas costs, interest (car loan), maintenance and repairs, and insurance. Depreciation is approximately 46% of the total cost of the car over 5 years. The average sales tax charged each time you pay for maintenance or repairs on your car can range from 3-5%. Filling up your gas tank can be expensive and can cost up to $20,000 over a 5 year period assuming an average of 12,000 miles driven per year using regular gas or 26% of the sales price. The average interest on your car loan over a five year period is 12%. Insurance can range from $1,000 - $5,000 a year or 10% of the sales price. Owners can spend as much as $80,000 in insurance over the life of their car.

According to Edmonds.com, if you purchased a car that costs $21,500, over five years, it will cost $33,438 to drive the car. If you are struggling with debt consider selling your car can help you pay off debt. Here are 14 ways to live life without a car.
1. Cost. Americans spend 20% of their income on cars which can range from $300-$800 a month which includes gas, car payments, insurance, maintenance, registration fees and taxes, parking, tools and repairs.
2. Repairs. Many car owners spend hours at the car dealer or repair shop waiting to get their car repaired. Think about what you could with your time if you didn’t have to sit in the car dealer all day.
3. Rent. Rent a car to go on long weekend road trips. Even if you don’t own a car keep your driver’s license up to date in the event you need to drive a car.
4. Kids. If you have kids it may be difficult to get around and go to all of their activities without a car. In that case, consider carpooling, use a shared car service like Zip Car, public transportation, bike or ride a motor bike.
5. Bad Weather. Don’t try to ride your bike in the snow and use caution when riding in the rain.
6. Eco-friendly. Getting rid of your car is good for the environment and reduces your carbon footprint. It also helps you to live a healthier life by allowing you more opportunities to exercise.
7. Options. Consider your lifestyle to see if selling your car is the right option for you. If you are disabled or have more than one child, it may not be possible to live a life without a car. However, you can reduce your driving your car.
8. Resources. You can use tools like www.walkscore.com to find services and attractions in a certain neighborhood that can be useful if you bike or walk.
9. Alternate. Keep your car as an alternate method of transportation. Do a test to see how much money you can save if you don’t drive your car for a week, and then try it for a month. Use the extra money to pay down debt or create an emergency savings account.
10. Move. Consider moving to the city or a downtown area to eliminate the need for having a car. Consider getting a job that is closer to a downtown area or train station.
11. Bike. Buy a bicycle and look for roads that have bike lanes to travel onto ensure you can ride your bike safely. You can also buy a motorbike or scooter to get around town.
12. Carpool. Consider joining a carpool to get to work or to take children to school events or other events.
13. Taxi. Take a taxi if you need to get somewhere and don’t want to bike or walk.
14. Shopping. If you are walking consider getting a wheeled cart to carry groceries or other items. Also consider shopping online.

20 Ways to Save Money Now

Many consumers nowadays are trying to find more ways to save money. However, some consumers refuse to save money and continue to have bad spending habits that will only lead to financial disaster. Many consumers don’t understand the true benefits of spending less than you have, saving money and creating a monthly budget. These are tools to help you get out of debt, pay for unexpected expenses and prevent you from getting into debt. These are things everyone should embrace with open arms.

Many people want to know why should I save money. I have enough to pay my bills; I can’t take it with me, what’s the point. Different people save for different reasons. You can save for many different reasons such as: unexpected expenses, a vacation, to start a business, pay for education, plan for retirement, home repairs, estate planning, buy a car, a wedding, down payment on a house and more. It is a great feeling to have money to pay for things you need instead of using your credit card and paying the balance off 6, 9 or 12 months later. Here are 20 ways to save money.

1. Pack your lunch for work every day.
2. Buy drinks from the grocery store instead of the newsstand at work or coffee shop or, better yet, drink water – it’s the best thing for your health and it’s free. Reduce all unnecessary spending (i.e. only buy necessary items).
3. Use direct deposit to send your paycheck directly to your bank.
4. If you get a raise, save all or most of the money received from the raise. For example, save $5 or $10 a week or whatever you can afford. Set a goal that you want to save $100 within a certain time period. Once you have accomplished that goal, set another savings goal and continue doing that. The next time you meet your goal, you will realize that you have saved a great deal.
5. Buy what you can on sale, instead of paying the regular price.
6. Use coupons or shop at a wholesale store such as Sam’s Club or Costco.
7. Buy whole foods, such as vegetables, grains, beans and fruits, instead of processed foods. This way you aren’t paying for the processing costs.
8. Check your local health food store to see if you can buy foods, such as grains, seeds, nuts, spices and legumes, in bulk. This way you aren’t paying for expensive packaging.
9. Carpool.
10. Take public transportation to work.
11. Cancel your cable service or get the cheapest plan possible.
12. Cancel your cell phone service or get the cheapest plan possible.
13. Reduce the amount of long–distance calls you make per month.
14. Shop around with various banks to find a checking account with no monthly fees.
15. Buy a midsize or compact car until your debts are paid, because this results in a cheaper monthly payment.
16. Finds ways to reduce home expenses by buying energy efficient appliances, ceiling fans, programmable thermostats, fluorescent light bulbs and lamps, or hot water insulator jackets.
17. Donate items not being used to a charity. The amount can be written off on your taxes.
18. Rent movies instead of going to the movie theater.
19. Turn the lights out when you are not in a room.
20. Turn the heat and/or air conditioner off when you are not at home or set at a low energy saving temperature which can be found be calling your local utility company.

Save Money on Memorial Day

Memorial Day which was originally called Decoration Day, is a day of remembrance for those who died serving in the military. Memorial Day was officially proclaimed a holiday on May 5, 1868 by General John Logan and was first observed on May 30, 1868. The first state to officially recognize the holiday was New York in 1873.

Memorial Day passed by Congress as part of the National Holiday Act of 1971. Memorial Day is celebrated in almost every state on the last Monday in May. However some southern states such as Texas, Louisiana, Tennessee, Alabama, Florida, Mississippi, South Carolina and Georgia also celebrate Confederate Day to honor those who served in the Confederate War.

Many advertisers take advantage of the Memorial Day holiday as another way to make money. Unfortunately they never mention anything about the real reason for Memorial Day. Advertisers should at provide extra discounts for those who have served in the military or are currently still serving in the military. If someone fights for our country, why can’t you give them a discount on a purchase? We should embrace our military and treat them better than we currently do.

Memorial Day is usually the official start of the summer season when pools are opened, families begin cooking on the grill, summer clothes are pulled out and people start heading to the beaches. Many families and friends get together during this weekend. Many people also head to the mall to see what sales are offered. If you have to go shopping or spend money this Memorial Day weekend here are 6 tips to save money.

1. Save money on gas. With the cost of gas prices I have cut back on driving here and there and take into consideration the distance I have to drive. Create a traveling zone when driving. When considering driving use MapQuest to map the address and see how many miles it is from your home or office. If the distance is more than the maximum number of miles you are willing to drive do not attend the event. My maximum is 30 miles one way from my home or work.
2. Food. If you are having family or friends at your home keep the menu simple but provide variety. Use different sauces, toppings and marinades to provide flavor and variety. Ask everyone to bring a dish or dessert to help save money.
3. Fun. Skip going to the movies or amusement parks and play games outside such as volleyball, soccer, cricket, horse shoes, sack races etc. to save money and spend more time with your family and friends.
4. Skip the mall. Don't let the media or advertisements trick you into buying something this Memorial Day weekend simply because it is on sale. Most prices during holiday sales are marked up and a discount is given on the marked up price. If you have to buy something at the mall comparison shop and determine which store is offering the best holiday sale. Check online sites to see if you can get a better deal.
5. Budget. Create a budget or shopping list and only buy the things you absolutely need for the holiday. Visit local vendors, food co-ops or discount stores to purchase meats, fruits and vegetables which will be much cheaper than the department store.
6. Free. Check your local newspaper or listen to your local news station to find free events to attend during the holiday weekend.

Tips on Using Frequent Flyer Programs

Frequent flyer programs are offered by airlines companies to customers who fly more than the average flyer. Some programs offer points, upgrades, priority seating, discounts on products, credit for purchasing products from partners and more.

Some frequent flyers obtain miles for personal and business travel. Avoid confusing business travel with personal travel miles. Open a separate account for your business travel miles if you can. If not, be sure to keep track of your personal miles. Some frequent flyers have been prosecuted and convicted for redeeming business frequent flyer benefits that were used for personal travel.

Frequent flyer programs can be tricky and can prove difficult to get due to all of the restrictions. Some programs you have to travel at least 25,000 miles before you can start redeeming benefits. When looking for a frequent flyer program to participate in consider the following:

1. Perks
2. Do their fly to your home airport or preferred airport
3. Do your points expire or have to be used within a certain time period
4. Do they provide other options for using points that will soon expire
5. What are the restrictions and guidelines
6. Do they offer points for partner company purchases
7. Does the program match your travel habits

Here are some tricks frequent flyer programs use
1. The number of seats are limited
2. Increased the number of points needed and offer fewer flights
3. May have to book months in advance and settle for an inconvenient flight time

Here are some perks of frequent flyer programs
1. If you can’t use your miles before they expire use alternatives such as using them for magazine subscriptions, making purchases at airline websites or sites such as points.com, renting cars, gift cards or giving them away.
2. Trade frequent flier miles or buy miles at another airline using points.com. Ask friends or family to share miles with you.
3. Sign up for a frequent flyer miles check card. You may be charged an annual fee but if used frequently you can get a free airline ticket.
4. Look for partners that offer miles for your frequent flier program. Find airlines which are compatible.
5. Sign up for email promotions and use them to earn bonus miles. You will get email invitations to take surveys to try out new products which helps you earn bonus miles.
6. Sign up for dining rewards.
7. Open a credit card which is usually free the first year. Make sure you meet the minimum spending requirements. After your miles post plan your next trip. This method works best when you use the miles quickly. You can cancel the card after the first year to avoid the fee charged the second year.
8. Purchase layover flights instead of non-stop flights.

How to Save Money with iPhone Apps

The Apple iPhone prices start at $199 and can range up to $499 depending on the plan, memory and features selected. Verizon and A&T now offer the iPhone. The iPhone offers over 350,000 applications some of which are free. The iPhone provides email and internet services, iTunes, and is very easy to use. It allows for multitasking. It also provides a camera, Wi-Fi, video streaming and an iPod. It can sync with pc and mac email. It also has sensors to save on battery power. If you are an iPhone owner here are 8 applications that can help you save money.

1. Quicken – A free application that helps you manage your finances, track financial goals and monitor your account activity.

2. Billminder – A $1.99 application that helps you track bills, listing due dates. Your data can be exported via email and the application can send notifications to remind you of due dates.

3. Coupon Sherpa – A free application that provides coupons to hundreds of stores online or can be printed. Coupons can be displayed as a scannable bar code to be used at checkout lines. Coupons for local stores can be found by GPS location. You can get daily updates by subscribing to their newsletter.

4. Mint.com – A free application that helps you keep track of your spending by creating a budget. You can setup alerts and track bills using exports from your bank account.

5. Maps - A free application similar to Google Maps. It helps you find stores, restaurants or any address in the United States and can be used with GPS and Wi-Fi.

6. Gas Buddy – A $2.99 application that helps you find the cheapest gas in your area. The tool is really helpful when traveling.

7. Skype – A free application that allows you to make calls over the internet for free. This is especially helpful for those who make long distance international calls. Calls using cell phones or landlines are cheaper than using Verizon or AT&T.

8. Wifi Finder – A free application that allows smartphones owners to access the internet using faster speeds. The application finds all free Wi-Fi hotspots near you using your GPS location. The application has a listing of over 400,000 free hotspots in over 140 countries.

Financial Help for College Grads

According to the Federal Reserve Bank of San Francisco the unemployment rate for college graduates in 2010 was over 8%. According to EPI’s new paper, The Class of 2010, recent college graduates under age 25 the unemployment rate is 9%. Monster.com has a special section on its website for recent college graduates to help them find jobs. USAjobs.com has federal job listings by college major.

According to Pianalto, recent college graduates don’t experience skill and geographic constraints because they tend to be highly educated and mobile. College graduates have suffered worse in this economy than any other group and are having a hard time finding a job. Trying to find employment during a financial crisis can limit total earning potential over the life of a college graduates’ career.

Another factor college graduates have to worry about is the debt accumulated while in school. If they are unable to find a job, they are also unable to pay their debt. When you find a job focus on paying down debt. Here are some financial tips for recent college graduates to help you reduce debt and improve your financial situation.

Housing
1. Stay at home for at least a year after graduation. If you have to live on your own buy an efficiency, studio apartment or loft. You can get a roommate but you have no control over whether they pay their rent or pay on time.
2. Your housing costs should be no more than 35% of your total net income (after taxes).

Auto
1. Skip the car. Don’t buy a car your first year of employment. Catch public transportation; borrow your parents’ car or a friend’s car when needed. If you must buy a car buy a used car.

Paying Down Student Loans
1. Use caution with consolidation. Consolidating student loans combines your loans into one payment but may or may not provide you with a lower interest rate. You may not be eligible for various student loan forgiveness programs if you consolidate your student loans.
2. Pay more than the minimum monthly payment. Your loan accrues the greatest interest in the first 2-3 years of the loan.

Investing (401K's/IRAs )
1. Start with your company's 401K. Contribute as much as you can to your retirement account. You will need at least 70-80% of your income during retirement and will need a minimum of $1,000,000 to retire.
2. Focus on long term growth. You have to be willing to leave your money untouched for the next 5 to 10 years. Otherwise you won't be able to see the benefits of your money growing.

Spending/Budgeting
1. Create a budget. Make your budget flexible to accommodate for unexpected expenses and include savings goals. Include monthly expenses and debt plus your monthly income. This will help to readily see the areas where you can reduce expenses. Create an emergency fund that is enough savings to pay your bills for at least 9 to 12 months.
2. Reduce your credit card debt. Pay more than the minimum monthly payment.

Managing Credit Card Debt
1. Stop spending. Don't spend money you don't have. This will result in your owing more money. Use your credit card for emergencies only.
2. Setup a payment plan. Setup a payment plan with each of your creditors to pay off your debts. Identify any terms and negotiations you would like to make and stick to the terms.

Credit
1. Order a copy of your credit reports at annualcreditreport.com and fix any errors.
2. Get current on any delinquent accounts.

Financial Planning
1. Use a broker or financial advisor to setup your retirement account.
2. Buy insurance. Buy health, life, disability insurance.

Halloween Mania and Money

Halloween is celebrated by many Americans in the United States. Is Halloween really a holiday? We don't get a day off work to celebrate it but it is treated as a holiday and it seems as though some people get more excited about Halloween than Christmas. I wonder if the people who dress up at Halloween also dress up as Santa or Mrs. Claus at Christmas or dress up at Thanksgiving.

Companies make millions of dollars in sales during Halloween. Disney theme parks had a 40% increase in attendance at Disneyland in LA. In 2009, companies made approximately 6 billion dollars in Halloween sales.

If Americans took the money they plan on spending this year for Halloween and put it towards paying down their debt or put it in an emergency fund they would be in a better financial position next year. If you are going to celebrate Halloween this year here are 5 ways to save money.

1. Costumes. Buy costumes from the dollar store or make you own. Dress up like a cartoon character or a TV show character.
2. Candy. Buy candy from the dollar store or at discount or wholesale stores like Costco, BJ's or Price Club. You can also use coupons at store that double the coupon value.
3. Family Outings. Carpool, buy bulk tickets or ask about discounts for families or large parties to save money on admission fees for haunted houses or other activities.
4. Host a party. Host your own Halloween party and ask guests to bring a dish. This way you save money by not going out and get the luxury of staying at home.
5. Skip Halloween. Skip Halloween and do something that is low cost or free like attending church, visiting family or plan a family night and watch TV. This will save you a lot of money and will bring your family closer together.