Money & Finances

Best Things To Buy During A Recession (You Might Be Surprised!)

Times are tight, and extra money is hard to come by these days.

Retailers and service industries are not immune from feeling the effects of the economy. As a result, many doing things to boost their bottom line.

Yep, many are slashing prices right now -- which means there are lots of great bargains to be found these days!

Here are some recession bargains you might want to take advantage of right now:

Continue reading: Best Bargains During A Recession

3 Ways To Simplify Your Investments

Do you have multiple investment accounts?

These days many people do, and it's no wonder that some of us are confused about where our money is.

The good news is there are 3 things you can do to simplify your investment portfolio:

• Put all your investment accounts in a spreadsheet by asset class. Or use one of the free online tools on Vangard Group or Morningstar.
• When it makes sense, combine retirement accounts with your spouse.
• Update the beneficiary information on your insurance policies, retirement accounts, annuities, and estate planning documents such as wills.

Are you wanting to add a new investment to your portfolio? Have you been hearing about how gold is the best way to go? Well, according to one coin dealer, silver may be a better investment.

Do You Know How Much Money You Need To Retire?

No matter what your age (and it's never too late to figure this out), you need to know how much money you will need to live on once you retire.

Believe it or not, it's not that difficult to come up with this figure so you can start working towards it now.

Check out these simple steps to figure out how much money you'll need to retire.

In brief, it comes down to this:

• Determine your personal monthly expenses at retirement age.
• Determine all the income you might have coming in at retirement age (either directly, or through other means like Social Security).
• Whatever gap there is between your income and your expenses is the extra money you would need to obtain in order to retire and live comfortably.

Don't know how much Social Security you can count on when you retire? Find out how to read your social security statements, so you'll know for sure.

Are The Fast Check Out Lanes In Grocery Stores Really Faster?

This is a good question. Most of us would assume that checkout lanes limited to 15 items or less are the fastest ones, right?

Surprise! That is not always the case.

When doing the math regarding time spent in checkout lanes, it turns out that it takes a person 48 seconds to get through a checkout lane in addition to 2.8 seconds for each item in that person's cart

This means that it would actually be better to get in a line behind someone who has 30 items, than it would be to wait in line behind 3 people who each had 15 items in the so-called fast lane.

That same study also found that cash transactions were actually faster than credit card ones. Go figure.

Layaway Plans - Questions To Ask Before Putting An Item On Layaway

If you are still paying off credit cards that were used to pay for Christmas last year, then the idea of layaway seems very attractive.

So, what is layaway?

Layaway is when a store holds a product for you, and you make payments on it until you have paid it off, then you get to take the item home.

But there is more to it than that. There are some questions you should ask before putting an item on layaway, such as:

• How long can I take to pay off the item?
• What are the terms?
• Can I get it in writing?
• Are there any fees?

Are you considering putting an item on layaway? Here are a few things you should know first.

Cheap Home Insurance -vs- A Good Home Insurance Policy

Many people go for the cheap home insurance policy without exploring what they really need.

Going for the cheap home insurance could cost you more money in the end, if a natural disaster happens and your policy doesn't cover it.

Not all home insurance policies are the same, so it's important to pick the right one.

You should take these steps before buying a home insurance policy:

• Research the area where your home is and determine if it's in the path any natural disasters -- such as being on a flood plain, or you live in an area that has hurricanes.
• Figure out what you need on your home insurance policy first so everything is covered.
• Add up the total value of your home yourself. Don't rely on the home appraisal because it includes the land, and the land will probably not be damaged in the event of a natural disaster.
• Once you know what you need on your home insurance policy, then go and talk to agents. You can always negotiate for a better deal.

Understanding your home insurance policy is key to making sure that you and your home are covered in the event of an emergency. If you don't fully understand the terms of your policy, you could be left with no way to make repairs or pay for damages.

5 Things To Keep In Mind When Saving For Retirement

Not everyone has the option of saving money for retirement right at the time they begin working.

Also, many companies are not even offering 401K and other retirement options anymore.

Even worse, some people's retirement funds have been wiped out by the recession.

So, what can you do if you fit into one of those categories?

• Begin saving for retirement today. It's never too late to start. You should try to save 10% of gross annual income.
• Keep your eyes on the details and make sure you have what you need to in order to ensure that you'll have enough money for your retirement.
• Understand the different options for saving.
• If you're short on saving for your retirement, consider cheaper options and then put the money you save into your retirement account.
• Decide ahead of time how you want to live during retirement -- so you can save enough for it.

Have you thought about putting off retirement? Maybe the idea of owning your own business that you can continue to build on after retirement sounds appealing to you. There are several different options when it comes to retirement. These days, not everyone is retiring exactly.

5 Simple Ways To Save Money With Very Little Effort On Your Part

Money is tight these days. Finding ways to hang onto more of it to either pay bills or spend on yourself for something fun is usually the goal, right?

Fortunately, some of the best ways to save money actually require little to no extra effort on your part!

These 5 tips will go a long way towards meeting your goals to have more money for bills, the holidays or whatever you'd like:

• Don't buy that new car. If you're car still runs and isn't costing you a fortune to keep on the road, then keep driving it until it is no longer cost effective to keep it.
• Got bugs? Use boric acid to dehydrate and kill them instead of expensive bug sprays.
• Only buy clothes when they are on sale or second-hand.
• Get rid of your cable box. If you've got high-speed Internet, almost everything you like to watch can be viewed on your computer instead.
• Check out books by your favorite authors at the library rather than purchasing them.

Want more? Here are 20 more simple ways to save money that take very little effort on your part!

How To Turn Your Favorite Hobby Into A Way To Make Extra Money

Between the economy and the holidays, it's easy to find yourself broke pretty quickly, or at the very least cash deprived.

The good news is, if you have a hobby, then you may be able to turn that hobby into extra cash.

If you want to make extra money from your favorite hobby, there are a few things you need to know before you get started:

• Do all the work yourself initially. You don't want to go into debt from hiring people before you can afford to pay them.
• Talk to an accountant about what you need to know with regards to tax laws.
• Use word of mouth to your advantage. Tell everyone you know and ask them to tell everyone they know about your hobby.

The holidays are a fantastic time of year to put to test the money-making feasibility of any hobby. For example, rubber stamping is one hobby that definitely has possibilities, and it's one of my personal favorites!

How To Tell If You Have Too Much Debt

It's very easy to find yourself living from paycheck to paycheck these days.

Having a nest egg is hard when times are so uncertain, and people don't know if they're going to have a job tomorrow.

But it could be even worse... you could be too far in debt.

There are signs when you have accumulated too much debt, such as:

• More than 20% of your net paycheck is going to pay credit cards.
• You tried to consolidate your loans and were turned down as too high risk.
• You can't get a loan unless someone co-signs.
• You're looking for the next big deal to solve all your debt problems.

If you've found yourself swimming in debt and wondering how you're going to crawl out from under the debt pile, it's probably time to talk to a Consumer Credit Counselor and get some help. A Consumer Credit Counselor can assist you in putting together a budget that you can live with and still have enough money to live on after the bills are paid. It's definitely worth looking into.