It’s no secret that being a college student is expensive. Whether you are paying for college by yourself or getting help from your family, it is important to make the most of what you have. Here are several money-saving tips for freshmen college students. If you follow these tips, you don’t have to be broke in college.

1. Rent your textbooks. New college textbooks are very expensive. A single book can cost over $300. The same textbook can be rented for $100 or less. It costs a lot less to rent a book that you will never use after the class is over than to buy it new and sell it back at the end of the semester.

2. Limit your entertainment to on-campus activities. Take advantage of the student discounts your school offers. Attend sporting events on campus to get the student ticket price. Use the campus gym and other recreation facilities.

3. Get a student checking account. Most banks and credit unions have a checking product especially for college students. Monthly fees are usually waived on student accounts and they can be opened with a low initial deposit.

4. Make a budget and stick to it as much as possible. Having a budget will help you understand where your money is going and will show your family that you are responsible, making them more likely to help you if you run out of money.

5. Eat in the campus dining hall. Buying a campus meal plan is a lot less expensive than eating out.

6. Make some extra money with your hobby. If you have a special skill, such as pet grooming or car detailing, you can start your own business. As an entrepreneur, you can set your own hours around class and study times.

7. Be careful with payday loans. Short-term loans provide fast money in emergency situations, but be careful to use them only for emergencies. Otherwise, the amount you pay in fees will greatly reduce your spending money.

8. Use coupons. Whether you are buying something from the store or online, using coupons saves money. Most stores, both online and brick and mortar, offer coupons to attract business. A quick search for coupon codes can get you a percentage off of a purchase.

9. Balance your checkbook. Balancing a checking account only requires simple addition and subtraction, skills most college freshman already have. If you don’t keep track of the amount of money in your checking account, you can find yourself paying overdraft fees. Too many of these fees could really put a damper on the social life of a college freshman. Bounced checks can also hurt your credit, which you will need after college.

Follow these helpful money-saving tips to make your college experience more enjoyable.

As you age, your financial situation may change dramatically. Depending on how well you were able to plan for your future, you could be living comfortably—or you could find yourself struggling to pay your bills. Financial planning is essential, and no matter what your situation is there are things you can do to ensure you’re financially secure. The older you get, the more important it can be. Here are a few personal finance tips for seniors.

Carry Adequate Health Insurance

Because the human body becomes more prone to sickness and disease as you age, having a health insurance policy in place is imperative. It is easier to get adequate health coverage when you’re younger, and maintain the policy as you age, but if you never had a policy, or let yours lapse, you can still get health insurance—but it may cost more. No matter what your personal financial situation is, it is important to have health insurance. Once you’re eligible for Medicare, it may not be as much of an issue, but having your own health insurance will ensure you receive the care you need without having to pay out-of-pocket. Besides, Medicare may not cover all of your needs, which will make personal health insurance coverage even more important. You should do a little research to find out what is covered by Medicare and what isn’t. You can find out more about Medicare by visiting the Medicare website at, Medicare.gov, and you can learn more about senior care options in general at SeniorCare.net.

Other Types of Insurance for Seniors

In addition to health insurance, you may also have a car and a home to insure. You may also have a life insurance policy in effect. Premiums must be paid on each of the policies. A good way to save a little money on these policies is to raise your deductible, because it is standard practice within the insurance industry to lower your rates when you raise your deductible. If you do this it would be a good idea to open a savings account dedicated for emergency use only. In that way you will always have the money on hand to pay a deductible if it becomes necessary. If you deposit money into the account on a regular basis, it will draw interest until it’s needed. If you never have to file a claim the account will continue to grow.

Buy a Smaller Home

Many people buy a small home when they first enter the workforce, then move up to a larger home as they begin making more money and raising a family. Now that you’re retired you may want to consider downsizing your home. You probably don’t need all the room you have right now, and it most likely costs a lot to maintain. If you sell your present home and move into a smaller home, you can save quite a bit of money on monthly bills, plus the difference in what you get for your old home and what you spend for a smaller place can be put into savings where it’ll draw interest.

Save on Groceries

Buying groceries at your local supermarket is a way to save money. Clip coupons from local newspapers and make use of them when you go shopping. You can also save money by buying store brands instead of national brand products. Instead of eating out as often, you should fix your own meals—at least most of the time. A meal out once in a while will provide a much-needed change of pace, but try and find a restaurant that offers senior citizen rates. You should also pay close attention to what’s on sale at the store. When something you use on a regular basis goes on sale, you could stock up at a reduced price, especially if it’s a canned item.

Seniors Need to Have Savings

Because you’ve had quite a few years to save money, you probably have a little nest egg stashed away. You will want to make sure you can make the most of your savings without any more than necessary being taxed. You will also want to make sure you have access to your savings so you can make use of them when they’re needed, and not subject to a penalty for withdrawing money early. You should consult with a tax attorney or an accountant so you will know the best way to make use of your life’s savings.

By following these personal finance tips for seniors, you can save money and make your retirement savings stretch further. You want to enjoy your retirement, so if you have a few years left to save, be sure to take advantage of the opportunity so that your retirement years won’t be spent worrying about money.

The task of remodeling can be a very exciting and overwhelming process, whether it takes place in one room or your entire home. Unfortunately remodeling can also be extremely expensive. If you are planning a remodeling project sometime in the near future but aren’t sure how to finance it, the following tips can offer both general assistance and insight on how to finance a remodeling project.

Determine Your Needs

The first step in financing a remodeling project is determining your needs. This includes formulating a solid plan of what your remodeling project includes, along with an estimate of the total cost. Whether you are planning on doing the remodeling yourself or hiring a contractor, you will need a very detailed estimate in order for most lenders to work with you. Make sure you take the time to figure out exactly how you want your home to look during this phase of the process. You certainly don’t want to get halfway through your project only to hate what you are seeing. This will not only cause you stress, but it may require more money as well. You should also think about decorating the space–you’ll want a finished product. Figure in the cost of lighting, art, area rugs, and other items.

Know Your Options

There are various options for financing a remodeling project, and the best choice for you depends on your specific situation. Before you finance your project, it is good to familiarize yourself with all of these options. By doing this you will be certain you are making the right decision. Keep in mind lenders will obtain a copy of your credit report and provide you with financing options based on your creditworthiness.

Cash is One Way to Finance a Remodeling Project

Although most folks do not have sufficient cash on hand to finance a remodeling project, some may. If you have enough cash in the bank to pay for your project, you really do not have to worry about the financing aspect. You should, however, take the time to ensure you won’t be losing out on any valuable interest if you take money out of your bank account to pay for your remodeling project. Most of the time cash will still be the best option, as you will not be borrowing any money or paying any interest.

Home Improvement Loans

One option for financing a remodeling project is to take out a home improvement loan. These loans are backed by the Federal Housing Administration (FHA) and are nice because they come with a fixed interest rate. There are two types of these home improvement loans, one being a Title I loan. With this type, you can borrow up to $25,000 for remodeling and improvements on your single-family home. The second type is a 203K loan, which allows you to combine the first mortgage on your home with remodeling costs, resulting in a new mortgage loan. These loans are nice because they usually give you terms up to 30 years in length.

Home Equity Loans

A home equity loan, which is also known as a second mortgage, is another option for financing your remodeling project. This type of loan is usually a fixed-rate, fixed-term loan that is based upon the equity you have in your home. As with a conventional mortgage, you make equal monthly payments over a set amount of years, usually 15-30. There are usually little to no closing costs associated with home equity loans.

Home Equity Line of Credit

Another option for financing your remodeling project is a home equity line of credit, which is similar to a credit card. Your lender will provide you with a certain amount of credit, which is based on the overall value of your home and the equity you have in it. These are nice for many people looking to remodel because they allow you to take out money over a period of time, instead of all at once. In addition, lenders will only charge interest on the money you use instead of the total amount. Home equity lines of credit are also favorable because they do not come with closing costs and some other fees associated with other loans.

How to Finance a Remodeling Project by Refinancing

These days, interest rates on mortgages are significantly lower than they were in the past. If your current mortgage holds a high interest rate, you may want to consider refinancing your home. This will allow you to use the accrued equity in your home to take out a new loan, which will pay off your existing mortgage. The remaining funds can be used for your remodeling project. This is a great option for folks who have considerable home equity, or those who have been paying on their homes for some time.

All of these options are great for financing a remodeling project. Just remember to shop around with different lenders and do your research before deciding on an option for your situation. Since rates and fees can vary tremendously from lender to lender, taking the time to shop around will ensure you get the best financing for your needs.

Obtaining money for college loans hasn’t always been easy. The traditional method of seeking government help is one way to go, but there are other ways to get the money you need for a higher education. Many people receive help from their family in the form of money that was set aside for that specific purpose, i.e., a college fund. Frequently college students seek loans from friends, family members or total strangers on a personal basis that bypasses traditional lending institutions. This is generally referred to as peer-to-peer, or P2P lending. Following are few tips on peer-to-peer lending for students.

What Is Peer-to-Peer Lending?

Peer-to-peer lending is basically a financial transaction between individuals whereby one party borrows money from another. There is the expectation that the money will be repaid, with interest, at the terms the two parties agree upon. It is considered a sincere financial transaction by everyone involved. Peer-to-peer lending is simply another form of borrowing or lending money.

How It Works

The term peer-to-peer lending can be nothing more than an exchange of money between friends over a cup of coffee, or it can be a formal financial transaction complete with a background check and a signed contract. In the case of a student borrowing money on a P2P basis it is usually a formal loan where the student approaches a lender and asks for money to help complete their college education.

Who Is Involved In Peer-To-Peer Lending?

Although a peer-to-peer loan can be nothing more formal than borrowing money from Uncle Joe and agreeing to pay him back whenever you can, a more ‘official’ version of peer-to-peer lending would be to approach a more traditional P2P lender and go through the process of applying for and receiving a loan with agreed upon conditions. Internet websites such as www.prosper.com or www.greennote.com are available to help. Their function is to put potential borrowers in touch with people or organizations that are willing to lend deserving students the money for their education. Other organizations that specialize in some aspect of peer-to-peer loans for students are Fynanz, Lending Club, and Loanio. If you spend a little time researching these places on the Internet you may be able to come up with a lender that will allow you to borrow the money you need for your education at reasonable rates.

Why Not Get a Traditional Loan?

One of the chief reasons for a student to go the peer-to-peer route to borrow money is that they may not have a good enough credit rating for a traditional loan. Some people prefer P2P because the loans are usually for a shorter term so they can be paid off quicker. If a student can procure a peer-to-peer loan and pay it off rapidly they won’t be burdened with a huge student loan debt when they graduate from college. Starting off in the workforce without a student loan hanging over their head means being able to begin saving money immediately instead of setting aside a portion of the income each month for a student loan.

Eligibility

It doesn’t matter whether you’re attending a community college, a prestigious state school, or getting your education through one of the best online schools, a loan through peer-to-peer lending can help you achieve your goal of getting a college degree. The only requirement is that you pay the money back–in full and on time. The terms of the loan may vary–some lenders require a good credit rating in order to be eligible for a loan–but if you do a little research you should be able to find a P2P lender that will work with you. As with any loan, the better your credit rating the lower your interest rate will be. Because you’re just starting out you may be required to have a cosigner in order to be eligible for a loan. One thing to be careful of is to not be so anxious to take out a loan that you don’t read the fine print in a contract. It would be a good idea to seek the advice of a loan counselor or an accountant before signing any papers.

Everyone seems to have problems with money nowadays. Either you don’t have enough, you don’t earn enough, or all of your money gets spent as soon as you get it. People are laid off from their jobs and people become desperate for money. Many turn to the Internet for quick solutions, but find nothing but scams. If you want to escape your money problems, the only way to do so is a long hard journey, and you must be prepared to work at it no matter how tired you are or how little time or motivation you have. If you want to learn the secret, you have to increase the amount of financial education that you have.

To learn more about finances, check out books from the library, ask for help from a financial planner, or go online. Your desire to learn will fuel your success. There is a lot of information out there. However, it may take several years to learn all of it. Besides increasing your financial education, the only thing you can do is either earn more money or spend less money. Earning more money requires you to get another job or start your own business. Spending less money requires sacrifice and changing your lifestyle and money habits.

Unfortunately, there is no easy solution. The longer you spend trying to look for a shortcut, the more time you waste that can be used to improve your financial situation instead. If you aren’t currently saving money every month, start now. If you haven’t learned how to invest or save money in a retirement savings account, do it now. If you haven’t created a budget or found out where all your money is disappearing to, take action now. If you don’t want to sacrifice or change your habits, then you will likely be in the same situation a year from now.

Just remember that it gets harder when you hit retirement, since you have far less time and money to grow your finances. If you can’t figure out how to manage your finances when you’re working, what makes you think you’ll be able to when you retire? In fact, if you don’t start saving for retirement well in advance, you’ll have to keep working through the retirement years because you won’t have enough money to live on otherwise. Don’t let this happen to you—start working to improve your financial education today so that you will be ready to retire when the time comes.

The internet can be a great tool for keeping up to date on your bank accounts and shopping. The internet can also be a playground for thieves. There are many people that use the internet to steal your personal information, so it is very important that you protect all of your personal and financial information while using the web. Below are just a few steps to provide yourself with identity theft protection.

Secure Passwords

It seems like every website you visit wants you to set up an account and password. It can be tempting to use the same password for all of your accounts, but this is not a good idea. Each account should have a different password. Your password should be complex and include a variety of different letters, numbers, and characters. It should not contain personal information, like your birth date, address, or the names of your children. You should not save your passwords in your browser. It is much safer to enter your password every time you want to access that website. It is also beneficial to change your passwords every couple of months.

Protect Your Computer

Having the correct security protection for your computer is a necessity. At the bare minimum, you should have virus protection, spyware protection, and a firewall on your computer. Once you have installed these on your computer it is important to keep them up to date, which means you will have to either set up automatic updates or check for updates on a daily basis. Although having these security features on your computer will greatly reduce your risk of being a victim of identity theft, they cannot guarantee complete protection.

Be Secure

One of the simplest ways to protect your personal information online is to hit the log off button on every website before leaving it. This will lessen your risk of someone hacking that site. Another way to protect your information is make sure that you only enter your personal information on secure websites. One way to tell if a website is secure is to check the beginning of the address. If it begins with http: you should not enter any personal or financial information because it is not a secure site. If it begins with https: it will send your information through an encrypted system so that no one else can view it. Another way to tell if you are on secure site is to look for a padlock in the lower right corner, when you click on this lock it should show you the security certificate. You should also remember to close your window completely if you will be away from your computer.

Avoid Public Computers

It is safest to use your own computer and internet when viewing your bank information or shopping online. Public computers could have a program that could capture and save all of your log in information. Many places that offer wireless internet access have lowered security; this is because they have to make it accessible to many different people. By lowering their security, they may be making it easier for someone to steal your information while surfing the web.

If you are thinking of hiring a financial advisor, it is a very wise idea to do a background check on every potential candidate. You want a financial advisor that has no suspicious background or criminal history. If you can, find out if they have a good track record of financial advising as well. After all, this person will be advising you on your financial affairs so you want them to be as trustworthy and honest as possible. Doing a background check on your current or potential financial advisor is really quite simple and only takes a small amount of time.

Use Online Resources

With the ever-growing need for assistance with financial affairs, there are now many websites that exist solely to provide you with information regarding any potential financial advisors. One site, known as AdvisorCheck, has a database containing information on over 1.5 million financial advisors. These advisors personally register with the website, which tells you they are completely disclosed and eager to be researched. This site allows you to perform background checks on financial advisors, giving you a full picture of any issues or complaints in the advisor’s past. These thorough background checks search many areas, and will report any issues found in these areas. Performing these background checks will give you a sense of security and should make choosing the right financial advisor a bit easier.

There are also various websites that are strictly in the business of background checks. These sites provide you with access to government records and quickly show you if a financial advisor has a criminal history. All you have to do is provide the name and any other information you may have pertaining to the advisor. For a fee, these sites will perform a thorough background check in a short amount of time. You may also be able to find sites that offer free background checks.

You can always use a search engine such as Google to pull up any information that may be out there regarding your financial advisor as well. Since the internet is the leading source for news and information, there is a good chance any negative or positive feedback surrounding your financial advisor will be easily be found. Also, check social networking sites such as Facebook and LinkedIn to see if your financial advisor is a member. If they are, you can often find out valuable information from their followers, or from their page itself.

Ask Around

As with many things, the best information and opinions can be found by simply asking around. You should ask your friends and family if they use a financial advisor and who it is. If they are happy with the service they are receiving, they will most likely be happy to refer you to the advisor. If they have any negative information regarding specific financial advisors, they will probably let you know that information as well. You can also try asking business people in your community who they have for a financial advisor. If these business people have certain financial advisors, chances are the advisors are satisfactory and worth looking into.

The bottom line is you should always do some sort of background check on anyone that provides you with personalized financial advice. Background checks do not take a large amount of time, and they provide you with very valuable information. After all, it is better to be safe than sorry.

Take 10 minutes out of your day to improve your financial well-being.

By Danielle Beurteaux
deals.com

For many people, dealing with their personal financial situation is confusing and daunting. But it’s also unavoidable—if your finances aren’t in good shape, money problems will catch up with you sooner or later. Thankfully, it’s easy to get started. If you set yourself one of the below tasks each day, in a mere 10 minutes you can take steps to improve your financial well-being.

1. Review your credit card agreements. Thanks to the new credit card rules, your credit card statements are a little easier to read. They show your outstanding balance, interest rates, fees, and a minimum payment warning, a calculation of how much you’ll end up paying if you only pay the smallest amount each month. If you have a balance, go to www.dinkytown.net and use one of their credit card calculators to figure how much it’ll take to pay it down.

2. Get your credit score. You’re entitled to a free credit report each year. Go to www.annualcreditreport.com to get yours, and then get your score (which you will have to pay for).

3. Download a financial app. If you’re still taking care of your money the old-fashioned way—pen and paper—it may be time to up your technology. That may mean investing in a financial software program, or signing up for one of the many money apps available that will help you track your spending and expenses, keep to a budget, or hook you up with the best deals in your area.

4. Start a savings plan. If you don’t already have a dedicated savings plan—money that you regularly deposit into a high-interest (and preferably hard to access) account, do it now. Compare banks at www.bankrate.com.

5. Get intimate with your retirement. Americans are failing badly when it comes to saving for retirement—don’t be one of them. The later you start, the more catching up you’ll have to do. Head back over to http://www.dinkytown.net/debt.html and plug your figures into their retirement planner calculator to get a sense of where you’re at with your retirement savings.

Danielle Beurteaux is New York-based writer who writes about finance, thrifty ideas and green living. http://www.deals.com is your easy-to-remember source for the best online deals, sales, and coupons.

The recession has had an effect on the economy in many ways. One of the biggest effects has been credit card spending. In previous years, credit card spending topped the charts; however, in the past 2 years, credit card spending has been surpassed by debit card spending. Many Americans seem to be curbing their use of credit cards and trying to limit their spending to the funds they have on hand.

Because of the ease of use of debit cards, consumers who are aware of the dangers of debt accumulation have made a conscious effort to utilize their debit cards for purchases rather than racking up additional debt. Today debit cards can be used almost anywhere credit cards are accepted, so it is much easier and more convenient to carry a single debit card than a wad of cash.

Though the use of debit cards has been on the rise, there are still advantages to using credit cards. The most prevalent advantage is the fraud protection provided to credit cards. Most credit cards have superior fraud protection coverage when compared to debit cards. Though there are no government regulations requiring debit card issuing banks to help should your debit card be stolen and used, many banks are beginning to provide the same protection for their debit cards that they provide for their credit cards. Visa states that they require all banks that provide Visa logo debit cards to treat consumers reporting debit card fraud in the same way they would treat a credit card customer.

For the consumer who is concerned about the security of their bank account when carrying a debit card, there are ATM only cards. These cards allow the consumer to access their money from any ATM, just like all other debit cards; however, they do not carry a Visa or MasterCard logo and therefore cannot be used at stores in the same manner you would use a credit card. This means that, should your debit card be stolen, it is impossible for the thief to use the card unless they have your ATM pin number.

Most people believe that the increase in the debit card’s popularity is due to the fact that they are just as easy to use as a credit card, accepted in all places credit cards are accepted including online, and are a way to avoid accumulating additional debt. In today’s economy this is a concern for many consumers.

As the global market is progressing towards better technology more and more people are looking for new ways to invest their money. Online banking has proved to be popular as it is easy to use and access. One feature of online banking is the Internet savings account. This type of savings account offers bank customers an aggressive annual percentage yield for the money in their Internet savings account. One popular choice for Internet savings accounts is ING Direct.

ING Account Choices

ING Direct customers have many ING account choices available to them. All customers need to do to open one of these accounts is to go to ING’s website and set up an account. This company operates solely on the Internet and does not have a branch office that you can visit, so you must be comfortable banking completely online.

The biggest draw card for customers when it comes to ING account choices is the lack of fees and high interest rates on savings. As this industry is growing more competitive consumers will be offered good rates on their savings. However, an ING account may not be the best investment for everybody. In order to make sure that they are making the best investment options, customers should speak to an investment adviser. In some circumstances other investments such as mutual funds, ETFs or fixed rate savings bonds may be a better fit for the customer.

Benefits of ING Account Choices

The benefits of sticking with an ING account is that it can be accessed regularly unlike a term deposit. Those that do not need regular access may want to consider a high interest term deposit for a few years. Customers can determine which investment is right for them by assessing their needs and speaking to an investment consultant.