http://www.savvysugar.com/ It Makes Sense. en http://www.savvysugar.com/2475322 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/45_2008/6c813c6be4723924_retirement.jpg" alt="" title="" class="image right outline xlarger" height="383" width="280"></span>Job hunting might be the only thing on your mind after losing a job, but don't let your 401(k) from your previous employer slip through the cracks. Deal with wrapping up those loose ends before diving into the job search head first, otherwise you're more likely to indefinitely postpone the task. </p> <p>Your 401(k) savings can be rolled into a Traditional IRA account without penalty. The bank that holds your IRA account will have paperwork for you to complete and will initiate the rollover. Your 401(k) will be liquidated and funds amounting to the account's market value at the time of liquidation will be transferred to your IRA account. From there, you'll need to rebuild your retirement account by choosing new investments. You could try and hold off until you've found another job and roll your retirement savings into your new employer-sponsored retirement plan, but there's no guarantee your new job will offer one. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2475322#comment 401(k) IRA retirement Savvy ATM Mon, 10 Nov 2008 04:30:15 -0800 SavvySugar http://www.savvysugar.com/2475322 http://www.savvysugar.com/2437247 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/44_2008/c5e9ad9c322d2eb8_dollar.jpg" alt="" title="" class="image right xlarge" height="249" width="300"></span>Hey now, look who's making a comeback! The dollar has strengthened significantly compared to most currencies except the yen, and this month alone it has gained 11 percent against the euro. It could be a temporary trend that disappears as quickly as it happened, but <a href="http://online.wsj.com/article/SB122515342367274429.html" target="_blank"><b>The Wall Street Journal</b> helps us understand</a> how the current comeback affects Americans. </p> <ol> <li><b>Investors</b>: Because a stronger dollar pushes down the value of foreign assets, overseas investments will take a hit.</li> <li><b>Consumers</b>: A strong dollar will make imported goods cheaper, but any potential discounts depend on how flexible brands are with their suggested retail prices. While it's up in the air if the price of European designer goods will come down, the cost of European wine should fall 10 to 15 percent. Expect European auto makers to remain resilient to a strengthened dollar.</li> <li><b>Travel</b>: International airfares aren't budging yet but this could change, and in general a stronger dollar is good for some Americans who are pleased about more affordable shopping abroad. The biggest bargain is Iceland — airfare is 21 percent lower than last year, and any service that requires labor like tours or spa treatments are about 50 percent lower.</li> </ol> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2437247#comment currency dollar Savvy ATM Wed, 29 Oct 2008 14:45:20 -0700 SavvySugar http://www.savvysugar.com/2437247 http://www.savvysugar.com/2323095 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/cash.xlarge.jpg" alt="" title="" class="image right xlarge" height="320" width="232"></span>Banks offering plans that deposit money into a savings account every time you spend money are encouraging their customers to build up their savings account, which is a good thing. But when the <a href="http://www.consumerreports.org/cro/index.htm" target="_blank">Consumer Reports</a> Money Lab researched competing plans it found that most of them aren't the best solution for people serious about saving. Here is a summary breakdown from the November issue. Have you participated in programs like these? </p> <ul> <li><b>Bank of America's Keep the Change</b>: The bank rounds up purchase amounts to the nearest dollar and transfers the difference to your savings account, so if a total purchase is $332.49, 51 cents will be transferred to your savings account. The interest paid on the basic savings account was recently .2 percent and 1.75 percent for the money market account, so even though the bank matches the transfer amount for the first three months and five percent after that, you'd be better off saving in accounts that pay more interest.</li> <li><b>Wachovia's Way2Save</b>: Wachovia moves $1 into your savings account every time you make a debit purchase or pay a bill online. It pays 5 percent interest during year one and a 5 percent bonus, but only pays a 2 percent interest rate after that. After year one, the program isn't going to do much to boost your savings.</li> <li><b>American Express One</b>: Because the card pays 1 percent cash back on purchases but charges a $35 annual fee, you'd need to charge $3,500 to break even. You'd be better off getting a card with greater rewards, minus the annual fee.</li> <ul> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2323095#comment Banking money saving Savvy ATM spending Thu, 09 Oct 2008 09:30:48 -0700 SavvySugar http://www.savvysugar.com/2323095 http://www.savvysugar.com/2150973 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/finances.jpg" alt="" title="" class="image center preview" height="340" width="510"></span></p> <p>While there's no doubt the heads on Capitol Hill are spinning with what's been happening in our economy, it's not exactly a picnic for those of us feeling like we have a million and one unanswered questions. Watching big banks collapse and listening to what the news tells us was a horrendous day for the market, followed by the worst day ever, doesn't do much for the people anxiously sitting on the sidelines. Here are three things you can do right now to get a grip on your finances. </p> <ol> <li><b>Spend wisely and save as much as you can</b>: Sometimes, it's easier to turn a blind eye on the things that make us anxious instead of dealing with them. Now is not one of those times. Buckle down on your budget and figure out how you can save more.</li> <li><b>Pay off debt</b>: The economy has <a href="http://money.cnn.com/2008/10/01/news/economy/jobs_forecast/?postversion=2008100112/" target="_blank">already lost 605,000 jobs</a> this year and that number is likely to continue growing. You need to get aggressive with your debt (especially the high interest kind) in case you find yourself jobless — you'll need your savings for everyday expenses instead of debt repayment costs.</li> </ol> <p>See two more ways to get a grip on your finances right now when you </p> <p><a href="http://www.savvysugar.com/2150973">read more</a></p> http://www.savvysugar.com/2150973#comment Banking budget debt economy investing saving Savvy ATM Thu, 02 Oct 2008 12:30:29 -0700 SavvySugar http://www.savvysugar.com/2150973 http://www.savvysugar.com/2131491 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/market.jpg" alt="" title="" class="image center preview" height="340" width="510"></span></p> <p>When the market closed yesterday, the confusion and exhaustion caused by the recent events on Wall Street were escalated even more. The market suffered its biggest single-day loss in about 20 years after <a href="http://www.citizensugar.com/2119940/" >the House rejected the $700 billion</a> bailout bill and stumbled back to the drawing board. <a href="http://www.nytimes.com/2008/09/30/business/yourmoney/30money.html/" target="_blank">The New York Times reacted</a> to the news by providing a Q&amp;A for the average saver and investor, and I've selected what I consider the four most relevant topics they covered. </p> <ol> <li><b>Why did the stock market fall so far so fast on Monday?</b> Fear is likely the biggest factor. It could be a while before businesses have access to the short-term loans they need to operate a profit-making venture.</li> <li><b>My retirement portfolio has been wrecked by this. How should I respond?</b> Keep saving and contributing enough to your 401(k) to get your company's match if it offers one. Because your savings have taken a beating they will need more time to cycle back to a place where you can retire comfortably.</li> </ol> <p>See two more sets of questions and answers when you </p> <p><a href="http://www.savvysugar.com/2131491">read more</a></p> http://www.savvysugar.com/2131491#comment economy news Savvy ATM Tue, 30 Sep 2008 11:00:29 -0700 SavvySugar http://www.savvysugar.com/2131491 http://www.savvysugar.com/2078637 <p>It's been a rough couple of weeks on Wall Street, in Washington, and around the US (and the world) as we all worry about the unsteady US economy and the proposed $700 billion "bailout" effort of the nation’s financial markets. Here's a look back on what we've been talking about on Savvy.<br /> <br></p> <p><center></p> <table> <tr align=center> <td><a href="/2019855" ><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/2/22911/39_2008/1_10.jpg" alt="" title="" class="image preview" height="100" width="100"></span><br />What Happened on Wall Street?</a></td> <td><a href="/2063053" ><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/2/22911/39_2008/2_5.jpg" alt="" title="" class="image preview" height="100" width="100"></span><br />What to Do When Your Job Is on the Rocks</a></td> <td><a href="/2032919" ><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/2/22911/39_2008/3_5.jpg" alt="" title="" class="image preview" height="100" width="100"></span><br />Who Protects Your Money If the Bank Goes Down?</a></td> </tr> <tr align=center> <td><a href="/2028516" ><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/2/22911/39_2008/bank-run.jpg" alt="" title="" class="image preview" height="100" width="100"></span><br />Why a Run on the Bank Is Bad</a></td> <td><a href="/2039550" ><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/2/22911/39_2008/5_5.jpg" alt="" title="" class="image preview" height="100" width="100"></span><br />Do You Bank With WaMu?</a></td> <td><a href="/2060558" ><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/2/22911/39_2008/6_5.jpg" alt="" title="" class="image preview" height="100" width="100"></span><br />Will the Street Ever Be the Same?</a></td> </tr> </table> <p></center></p> http://www.savvysugar.com/2078637#comment Banking economy Savvy ATM Sat, 27 Sep 2008 07:00:06 -0700 SavvySugar http://www.savvysugar.com/2078637 http://www.savvysugar.com/2086806 <p>Sorting through the news lately has been an emotional, stressful experience that has everyone worked up. While it's important to understand how things came to be and the who's who of what's happening now, it's just as worthwhile (and maybe more so) to know how the Wall Street mess affects you and me. Here are some points to consider when trying to make sense of the various moving pieces. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/wall-st_0.jpg" alt="" title="" class="image center preview" height="337" width="506"></span></p> <ol> <li><b>Employment</b>: Hiring has slowed and employers are cutting back — employers that are hiring <a href="http://money.cnn.com/2008/09/23/pf/job_impact/index.htm/" target="_blank">are holding more rounds of interviews</a> and being more selective. Layoffs lead to a decrease in consumer spending, which can cause businesses to cut back even more, and so on. If you have a job, it may be more difficult to get a raise because your employer feels the pinch of a weakened economy.</li> </ol> <p>Discover how borrowing and cash are affected when you </p> <p><a href="http://www.savvysugar.com/2086806">read more</a></p> http://www.savvysugar.com/2086806#comment credit score economy loan news Savvy ATM Fri, 26 Sep 2008 09:30:38 -0700 SavvySugar http://www.savvysugar.com/2086806 http://www.savvysugar.com/2028516 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/bank-run.jpg" alt="" title="" class="image right outline preview" height="255" width="320"></span>Bad banking news has many people fearing their life savings will suddenly vanish and has created a somewhat panic-ridden population. Questions are flying about pulling money from the bank in case it collapses, but that's the most counter-productive thing to do in this scenario. Keeping your money under your mattress is not the way to go! </p> <p>According <a href="http://www.investopedia.com/terms/b/bankrun.asp" target="_blank">to Investopedia, a bank run is</a> "a situation in which numerous bank customers try to withdraw their bank deposits simultaneously and the bank's reserves are not sufficient to cover the withdrawals." So, the fear that a bank will become insolvent and results in a bank run, is the exact reason a bank could become illiquid. When it comes to your money, panic-induced decisions are rarely good ones. </p> <p><a href="http://www.amazon.com/FAILURE-UNITED-STATES-DEPRESSION-Framing/dp/B001DZ596Q/ref=sr_1_3?ie=UTF8&amp;s=home-garden&amp;qid=1221590795&amp;sr=8-3/" target="_blank">Source</a></p> http://www.savvysugar.com/2028516#comment Banking economy Savvy ATM Wed, 17 Sep 2008 15:30:08 -0700 SavvySugar http://www.savvysugar.com/2028516 http://www.savvysugar.com/1997472 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/37_2008/fico.jpg" alt="" title="" class="image right outline preview" height="282" width="300"></span>The fact that a cloud of <a href="http://www.savvysugar.com/1910189/" >inconsistency hangs around credit scores</a> makes knowing your exact number nearly impossible, but all scores based on the FICO system consider the same factors to generate your magic number. Knowing these five components gives you an idea of the areas that are hurting your score and makes some sense of how your score came to be. Find out what they are when you </p> <p><a href="http://www.savvysugar.com/1997472">read more</a></p> http://www.savvysugar.com/1997472#comment credit score Savvy ATM Mon, 15 Sep 2008 08:00:19 -0700 SavvySugar http://www.savvysugar.com/1997472 http://www.savvysugar.com/1910189 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/36_2008/credit-score_0.jpg" alt="" title="" class="image right preview" height="390" width="260"></span>Just as there are several companies and agencies capable of generating your credit report, there are many sources that offer credit scoring services. The September issue of <a href="http://www.consumerreports.org/cro/index.htm" target="_blank">Consumer Reports</a> describes how The Consumer Reports Money Lab spent $130 to determine how the scores may vary, and the results proved the point that scores from different sources can seem like they belong to different people! See the details of their experiment and what it all means to you when you </p> <p><a href="http://www.savvysugar.com/1910189">read more</a></p> http://www.savvysugar.com/1910189#comment credit report credit score loan Savvy ATM Wed, 03 Sep 2008 12:30:30 -0700 SavvySugar http://www.savvysugar.com/1910189 http://www.savvysugar.com/1900491 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/35_2008/loan.jpg" alt="" title="" class="image right preview" height="400" width="266"></span>Because 70 percent of you are <a href="http://www.savvysugar.com/1794043/" >dealing with student loans</a>, a <a href="http://www.fool.com/personal-finance/credit/2008/08/28/die-student-loan-die.aspx" target="_blank">Motley Fool article called</a> "Die, Student Loan, Die!" caught my eye. The article has some good tips on how to assess whether you should focus on putting more money toward savings or more toward student loans. Here's what they say you should consider when deciding whether or not to pay off student loans early. </p> <ul> <li>Pay off ASAP if you're stuck in a high-interest private student loan, but sit on it if you're locked in a low, fixed-interest rate.</li> <li>If the the interest you're paying is not tax deductible, pay off the loan ASAP.</li> <li>Pay off immediately if you have enough cash to pay off your loans and still have money left over to start your emergency savings account.</li> <li>Sit on your student loan if you have other higher-interest debt. Compare the interest rates on all of your debts to determine which should be paid down first.</li> </ul> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/1900491#comment loan Savvy ATM student tip Fri, 29 Aug 2008 14:00:37 -0700 SavvySugar http://www.savvysugar.com/1900491 http://www.savvysugar.com/1867636 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/33_2008/stk119199rke.preview.jpg" alt="" title="" class="image left preview" height="350" width="320"></span>The recently passed housing bill is <a href="http://abcnews.go.com/Business/PersonalFinance/Story?id=5558432&amp;page=1/" target="_blank">chock full of provisions</a> aside from helping those facing foreclosure, from giving the IRS access <a href="http://www.citizensugar.com/1826804/" >to Americans' credit card purchases</a> to assisting first-time homebuyers. The legislation is first and foremost considered a bailout bill, but the clause about first-time buyers certainly caught my attention and that of the National Association of Home Builders — they believe it will get buyers back into the housing market. </p> <p>The government is offering a tax-credit up to $7,500 to qualified first time buyers purchasing homes on or after April 9, 2008, and before July 1, 2009. The money has to be repaid to the IRS over 15 years, but without interest. Personal finance columnist Michelle Singletary must have read my mind when she answered a question about whether or not the credit would be beneficial. Find out the questions she says first-time buyers should ask themselves before jumping on this money when you </p> <p><a href="http://www.savvysugar.com/1867636">read more</a></p> http://www.savvysugar.com/1867636#comment housing real estate Savvy ATM Fri, 15 Aug 2008 08:00:21 -0700 SavvySugar http://www.savvysugar.com/1867636 http://www.savvysugar.com/1859470 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/33_2008/200370845-001.preview.jpg" alt="" title="" class="image right preview"width="320"></span>Sixty percent of you admitted that you have <a href="http://www.savvysugar.com/1848162/" >current store-specific credit cards</a> in your wallets, and most acknowledged initially signing up for the introductory discount. Deals can be difficult to pass up, but it's crucial to consider the elements of a store card before you agree to one in your name. </p> <p>Besides the bait of receiving a discount off your initial purchase and other card-holder benefits along the way, store credit cards work just like any other credit card. They likely come with interest rates higher than your usual card and are factored into your credit score just as any other card. But what if you fill out a credit card application to get the discount but never actually use the card? Find out how this affects you when you </p> <p><a href="http://www.savvysugar.com/1859470">read more</a></p> http://www.savvysugar.com/1859470#comment credit card credit score debt Savvy ATM Tue, 12 Aug 2008 12:30:16 -0700 SavvySugar http://www.savvysugar.com/1859470 http://www.savvysugar.com/1850561 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/32_2008/med241063.preview.jpg" alt="" title="" class="image right preview" height="420"></span>More than half of you are still <a href="http://www.savvysugar.com/1808153/" >building up savings for a rainy day</a> or haven't been able to save anything just yet. In order to be sure you're on track or to set a goal in the first place, you need to determine how much you'll need if emergency strikes. The biggest case for an emergency fund is job loss — if you lose your job or temporarily lose your ability to work then you'll need to rely on the money you've saved to get by. </p> <p>Standard advice says that a solid emergency fund has three to six months of living expenses. Determining our individual (or family) living expenses is necessary to know if we're on track to support ourselves without income for a few months. <a href="http://money.cnn.com/2008/08/06/pf/emergency_fund.moneymag/index.htm/" target="_blank">CNN Money recommends</a> reviewing the past three months of bills and expenses to figure out a monthly average. They remind us to include certain expenses in our calculations. Check out its must-include expenses when you </p> <p><a href="http://www.savvysugar.com/1850561">read more</a></p> http://www.savvysugar.com/1850561#comment emergency fund saving Savvy ATM Fri, 08 Aug 2008 12:30:08 -0700 SavvySugar http://www.savvysugar.com/1850561 http://www.savvysugar.com/1850394 <p>More than half of you <a href="http://www.savvysugar.com/1005294/" >admit that spending more money</a> on weekends is a given, but it doesn't always have to be the case. Challenging ourselves to occasionally be more mindful of our money on weekends may make us think twice before blowing our budgets on those days when watching our wallets isn't necessarily on our minds. Spend less this weekend by keeping yourself busy with one (or all!) of these inexpensive activities. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/32_2008/skd264759sdc.preview.jpg" alt="" title="" class="image center preview" height="337"></span></p> <ul> <li><b>Invite friends over for a clean-out-the-fridge fiesta</b>: Most of us have leftover ingredients from a weeknight meal or some kind of perishable that's nearing its expiration date. Instead of <a href="http://www.savvysugar.com/1576435/" >hosting a traditional potluck</a>, invite friends to bring over some of the things in their refrigerator they're afraid will go to waste. Ask them to give you a heads up about their contributions in case everyone has lettuce on the brain and ask them to revise their choice if necessary. Be creative and have fun concocting a meal with the items everyone brings!</li> </ul> <p>Find out two more things to do when you </p> <p><a href="http://www.savvysugar.com/1850394">read more</a></p> http://www.savvysugar.com/1850394#comment saving Savvy ATM spending tip Fri, 08 Aug 2008 08:00:06 -0700 SavvySugar http://www.savvysugar.com/1850394 http://www.savvysugar.com/1846189 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/32_2008/stk108560cor.preview.jpg" alt="" title="" class="image right preview" height="350" width="330"></span>Acquiring your free credit report is relatively simple: Just remember to visit <a href="https://www.annualcreditreport.com/cra/index.jsp" target="_blank">AnnualCreditReport.com</a> for up to three reports each year, <i>not</i> tricky <a href="http://www.savvysugar.com/1839893/" >FreeCreditReport.com</a>. </p> <p>Unfortunately, getting your free credit score isn't as direct. There are <a href="http://www.savvysugar.com/1696879/" >certain little loopholes</a> that can get you a complimentary score, but there also a handful of legitimate circumstances that grant you a free credit score — no slick loopholes required. Find out four situations which entitle you to a free score when you </p> <p><a href="http://www.savvysugar.com/1846189">read more</a></p> http://www.savvysugar.com/1846189#comment credit report credit score free credit score Savvy ATM Wed, 06 Aug 2008 09:30:34 -0700 SavvySugar http://www.savvysugar.com/1846189 http://www.savvysugar.com/1842332 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/32_2008/img98m.jpg" alt="" title="" class="image right preview"width="320"></span>Is there anything in your wardrobe or household that you're confident will stand the test of time? An <a href="http://articles.moneycentral.msn.com/Investing/HomeMortgageSavings/ShouldYouSplurgeOrSkimp.aspx#pageTopAchor/" target="_blank">MSN Money article called</a> "Should you skimp . . . or splurge?" doubts our ability to judge the value of quality things, and points out that our preference for disposable goods is related to credit cards. Dayana Yochim, a writer at The Motley Fool, brings up some interesting points. </p> <blockquote><p>Credit cards let us instantly satisfy our retail desires. Our grandparents had to delay that gratification. They figured that if they had to save for it, they'd better get the best they could. Now retailers want to catch that fleeting desire. We're looking at pricing before quality.</p></blockquote> <p>The article offers some suggestions on where to skimp by purchasing items that aren't the best of their kind, and where to splurge by investing money in items that will last. </p> <ul> <li><b>Splurges</b>: Mattress, eight-inch chef's knife, overcoat.</li> <li><b>Skimp</b>: Men's dress shirts (as long as the suit is well-tailored), women's shirts (especially the trendy stuff), accent chair, table linens.</li> </ul> <p>Do you agree with the article's recommendations? Where do you usually skimp or splurge?</p> http://www.savvysugar.com/1842332#comment consumerism money Savvy ATM work attire Tue, 05 Aug 2008 08:00:53 -0700 SavvySugar http://www.savvysugar.com/1842332 http://www.savvysugar.com/1754061 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/27_2008/stk307153rkn.preview.jpg" alt="" title="" class="image right preview" height="418"></span>We can't expect everything to be roses when two become one, and taxes after marriage can be surprisingly complicated (not that taxes are ever a simple cup of tea). Combining two salaries means you have a bigger pot to brew, but it could also mean that you end up paying more taxes as a married couple than when you both were single. Or it could mean less taxes. See what I mean — complicated. Find out more about the marriage penalty when you </p> <p><a href="http://www.savvysugar.com/1754061">read more</a></p> http://www.savvysugar.com/1754061#comment love and money marriage Savvy ATM taxes Thu, 03 Jul 2008 15:31:41 -0700 SavvySugar http://www.savvysugar.com/1754061 http://www.savvysugar.com/1753911 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/27_2008/Picture%203.preview.jpg" alt="" title="" class="image center preview" height="99" width="550"></span></p> <p>Building up savings is one of the best ways to set ourselves up for financial success, and the amount of questions coming in lately about ING accounts tells me that you're all on your way! There are a number of online banks out there, meaning they don't have actual branches you can physically walk in to and speak to customer service in person, but ING is a particularly appealing choice to many savers for a few key reasons. Find out what they are when you </p> <p><a href="http://www.savvysugar.com/1753911">read more</a></p> http://www.savvysugar.com/1753911#comment automatic savings high-yield savings ING savings account Savvy ATM Thu, 03 Jul 2008 06:26:27 -0700 SavvySugar http://www.savvysugar.com/1753911 http://www.savvysugar.com/1734590 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/26_2008/200408265-001.preview.jpg" alt="" title="" class="image left preview"width="270"></span>Today is June 25, which marks the six-month point to the 2008 holidays! Hanukkah begins on December 21 this year, the 25th is of course Christmas, and Kwanzaa begins on the 26th. There's a good chance you know which friends and relatives will be receiving gifts this year from the little elf in you, so there's no excuse why you shouldn't begin setting aside money now for the holiday season. </p> <p>Credit card balances typically surge during this retail prime time and you don't want your balance to be one of them. Charging a $100 gift on your credit card and not paying it off immediately means that you're paying more for the gift than its retail price. Prevent going into debt from holiday spending by starting to save a bit each month. If you're already transferring money from your checking to savings regularly, simply up the amount that's automatically moved to account for your holiday gift fund. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/1734590#comment credit card debt debt gift holiday saving Savvy ATM shopping tip Wed, 25 Jun 2008 12:35:09 -0700 SavvySugar http://www.savvysugar.com/1734590 http://www.savvysugar.com/1695000 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/23_2008/71044093.preview.jpg" alt="" title="" class="image right preview" height="436"></span>There's no real secret to reaching your savings goals, but there is an attitude of commitment that you should consider adopting in order to accomplish them. In order to keep your commitment to save, make it a priority: decide what you will save each month and learn to live on the rest. </p> <p>This approach ensures that you don't run out of money each month before you get around to saving some, and it means that you don't have to abide by irritating mantras like the latte factor. Everyone's spending priorities are different so all encompassing mantras aren't always appropriate, but no matter the reason for saving everyone aiming to set aside more money shares a common goal. Discover a few not-always-obvious places to find extra money when you </p> <p><a href="http://www.savvysugar.com/1695000">read more</a></p> http://www.savvysugar.com/1695000#comment automatic savings saving Savvy ATM Mon, 09 Jun 2008 08:24:43 -0700 SavvySugar http://www.savvysugar.com/1695000 http://www.savvysugar.com/1684388 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/23_2008/stk325123rkn.preview.jpg" alt="" title="" class="image right preview" height="437" width="300"></span>While it may seem that credit cards lead an innocent existence with the purpose of getting you out of a bind, credit cards companies are not here to help you. That's not to say you can't outsmart them, but CNN Money goes as far to say that rewards programs are in place to entice <a href="http://money.cnn.com/2008/06/02/pf/rawdeal_rewards/index.htm?cnn=yes/" target="_blank">consumers to charge more</a> on their credit cards and are ridden with traps. A Consumer Reports study released this week noted that rewards programs are not only frustratingly useless for the most part, but the confusing rules and restrictions make most reward cards a waste of time. The Consumerist shared Consumer Reports' <a href="http://consumerist.com/tag/rewards-programs/?i=5012414&amp;t=7-tips-on-using-credit-card-rewards-programs-and-avoiding-rip-offs/" target="_blank">seven general tips</a> when considering credit card rewards, and while they're all good points I think numbers three and five are most helpful. </p> <ol> <li><b>Avoid temptation</b>. Research shows that credit card users will often spend more in their quest to earn points toward their shiny new prize, however, overspending for a freebie doesn't make good economic sense.</li> <li><b>Use airline miles fast</b>. If you manage to save up enough miles for a trip, use them quickly. You never know when one of the airlines will change their conditions or go belly-up.</li> <li><b>Skip credit card rewards if you carry a balance</b>. Since reward cards often have higher interest rates, the interest on the balance you carry will probably offset any reward. Look for a standard credit card with a lower APR.</li> </ol> <p>There are four more rewarding tips so just </p> <p><a href="http://www.savvysugar.com/1684388">read more</a></p> http://www.savvysugar.com/1684388#comment credit card rewards program Savvy ATM Wed, 04 Jun 2008 06:34:36 -0700 SavvySugar http://www.savvysugar.com/1684388 http://www.savvysugar.com/1590676 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/18_2008/stk310085rkn.preview.jpg" alt="" title="" class="image right preview" height="419"></span>Aside <a href="http://www.savvysugar.com/1521774/" >from being a shoe junkie</a>, something else I'm guilty of is buying ingredients without actually having a corresponding recipe. I love jarred items in particular, like marinated artichoke hearts and varieties of olives, pearl onions, and baby dill pickles. Eventually I end up with shelves of lovely ingredients with just a few random basics, and I'll spontaneously commit to two weeks of creating meals with primarily what I have on hand. Instead of spending money on additional groceries or eating out, I'll rely only on what I create in the kitchen.</p> <p>During the two weeks the only food-related items I'll allow myself to purchase are fresh fruits and vegetables to make the pantry crafted meals more healthy and colorful, and I'll only buy them when I have a specific meal in mind so that they don't end up going bad before I get around to using them. I also give myself a budget for these items so that I don't go crazy at the farmers' market. Week one of the challenge is usually pretty easy and it's fun creating my own dishes, but toward the end of the challenge my drawer full of takeout menus starts to taunt me. </p> <p>This challenge is always satisfying in the end — it's a great way to use random items you have lying around save money by restraining yourself from buying unneeded groceries and eating out. And, hey, depending on how stocked your kitchen you could always extend the challenge another week. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/1590676#comment food saving Savvy ATM tip Thu, 01 May 2008 12:56:36 -0700 SavvySugar http://www.savvysugar.com/1590676 http://www.savvysugar.com/1590391 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/18_2008/200245650-001.preview.jpg" alt="" title="" class="image right preview"width="300"></span>Whether or not you know the difference between a bank and a credit union most likely stems from where your parents held their money. Those who grew up taking trips in the minivan to their bank's local branch with Mom probably aren't familiar with how it differs from a credit union. Now that you're in control of your own money it's up to you to know your options and what type of institution will best fit your personal banking needs. Learn how to tell the two apart when you </p> <p><a href="http://www.savvysugar.com/1590391">read more</a></p> http://www.savvysugar.com/1590391#comment Banking credit union Savvy ATM Wed, 30 Apr 2008 12:51:04 -0700 SavvySugar http://www.savvysugar.com/1590391 http://www.savvysugar.com/1576296 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/17_2008/medfr04838.jpg" alt="" title="" class="image right preview" height="407"></span>When you're setting yourself up for some major <a href="http://buzzsugar.com/1573997/" >TiVo catchup</a> this weekend, don't forget to bring your wallet and phone to the couch with you. Five minutes — of multi-tasking, no less — will save you money and time if your credit and debit card-filled wallet is ever stolen. My card has a toll-free number on the back that should be called in the event my card is lost or stolen, but that's no use to me if some thief is in possession of my card. Enter the 24-hour customer service numbers into your cell phone, so that in the event your wallet is swiped from your purse, you don't have to fumble around with a phone book or waste time calling 411. Preparation will always make you feel more in control — especially when your emotions are already heightened. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/1576296#comment identity theft Savvy ATM tip Fri, 25 Apr 2008 14:01:26 -0700 SavvySugar http://www.savvysugar.com/1576296 http://www.savvysugar.com/1573563 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/17_2008/6020477173_LG.jpg" alt="" title="" class="image right preview" height="300" width="300"></span>My best friend has a beautiful necklace that still has its diamond shine, but I haven't seen her wear it in ages. She keeps it tucked away because it was a gift from an ex-boyfriend and she's now engaged to her dream guy. His personality is laid back and he probably wouldn't think anything of her sporting a pretty necklace from an ex, but out of respect she chooses not to wear it. </p> <p>How many of us <a href="http://dearsugar.com/1535651/" >have tokens of our past loves</a> that go unworn? Instead of selling your jewelry-with-history on eBay or letting it collect dust in a drawer, why not sell it on a website dedicated to gems with a story? A site called <a href="http://exboyfriendjewelry.com/" target="_blank">ExBoyfriendJewelry.com</a> launched in February, and it allows users to sell, auction, trade or simply give away their jewelry. The catch — you must tell your story behind each item. In this way, the two Los Angeles <a href="http://www.nytimes.com/2008/04/23/us/23jewelry.html?_r=1&amp;ei=5088&amp;en=d3997baa2489edff&amp;ex=1366689600&amp;adxnnl=1&amp;oref=slogin&amp;partner=rssnyt&amp;emc=rss&amp;adxnnlx=1208970272-XHS0VIsb/tb3D0D+Vfpz5g/" target="_blank">women who founded the site</a> have created a service that could also function as type of healing community. </p> <p>I think it's a brilliant idea on their part, and if you're ready to part with the items it's a great way to put some extra cash in your pocket, start your emergency fund, or make an extra deposit in your retirement account. Will you be listing your jewelry anytime soon? </p> http://www.savvysugar.com/1573563#comment money Savvy ATM tip Thu, 24 Apr 2008 04:05:34 -0700 SavvySugar http://www.savvysugar.com/1573563 http://www.savvysugar.com/1521972 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/14_2008/200237085-001.preview.jpg" alt="" title="" class="image right preview" height="450"></span>Fortunately, I've never lost my purse or wallet, but during instances where I momentarily thought that I lost my debit card or driver's license, panic surged through me. The automatic reaction when something happens that could compromise your everyday livelihood is fear and worry, but you need to overcome those sensations very quickly and focus to ensure nothing more happens. You want to be one of those people saying "it could be worse," not one who says, "they emptied my bank account and stole my identity." To see what steps you should take in the instance your purse or wallet is stolen just </p> <p><a href="http://www.savvysugar.com/1521972">read more</a></p> http://www.savvysugar.com/1521972#comment identity theft Savvy ATM Savvy Solution wallet Thu, 03 Apr 2008 11:01:05 -0700 SavvySugar http://www.savvysugar.com/1521972 http://www.savvysugar.com/1505486 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/13_2008/200362301-001.preview.jpg" alt="" title="" class="image left preview" height="345" width="350"></span>When Fair Isaac <a href="http://www.savvysugar.com/1055537/" >introduces its new formula</a> for calculating credit scores this Spring, the new calculations are said to do a better job at sorting good borrowers from the risky ones. Having a high FICO score can save you thousands of dollars every year, because those with highest scores are rewarded with the lowest interest rates. But what type of score determines the good from the bad, anyway? To find out just </p> <p><a href="http://www.savvysugar.com/1505486">read more</a></p> http://www.savvysugar.com/1505486#comment credit report credit score interest rates Savvy ATM Fri, 28 Mar 2008 04:31:53 -0700 SavvySugar http://www.savvysugar.com/1505486 http://www.savvysugar.com/1140195 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/13_2008/AA044844.preview.jpg" alt="" title="" class="image left preview"width="300"></span>All the financial news over the past several months has featured opinions on whether or not we're in a recession or if we're on our way there, and some of you have developed <a href="http://www.savvysugar.com/997565/" >your own opinions</a> about the state of the economy. Context tells us that a possible recession definitely doesn't suggest racking up higher credit card bills and blowing your savings on things you don't need, but what exactly is a recession? To find out if your recession assumptions fit the bill just </p> <p><a href="http://www.savvysugar.com/1140195">read more</a></p> http://www.savvysugar.com/1140195#comment economy recession Savvy ATM Savvy Solution Tue, 25 Mar 2008 07:51:18 -0700 SavvySugar http://www.savvysugar.com/1140195 http://www.savvysugar.com/1123953 <p>Investing is the most obvious and ideal <a href="http://www.savvysugar.com/1123623/" >form of alternative income</a> because you're passively earning dividends, and when those dividends are reinvested you can truly see the positive effects of compounding growth. Don't have enough cash to buy a piece of the market, or you can't afford any market fluctuation with your cash right now? One of the most common ways people raise money for themselves is by running a side business on eBay or Craigslist — take a peek in your closet and start adding up how much you could earn from everything you don't use anymore (or is still hanging with its tags on). Blogging could be another way to earn a little side income. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/12_2008/dv1566016.preview.jpg" alt="" title="" class="image center preview" height="400"></span></p> <p>I know some people have reservations about taking on a second job, but that's an obvious option if you're unable to find an income source that can be done from home. A second job may even be preferable to you — think about the new people you could meet! Even working ten hours a week (or less!) will help you reach your money goals more quickly. Whether you're trying to pay off debt, reach retirement early, save for a home, or you simply want more disposable income for the weekends, the only person holding you back from making more money is you. </p> <p>Do any of you have creative ways that you make income on the side, or have any stories about how earning additional income has had a positive effect on your financial situation?</p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/1123953#comment income salary Savvy ATM Savvy Solution Tue, 18 Mar 2008 09:22:34 -0700 SavvySugar http://www.savvysugar.com/1123953 http://www.savvysugar.com/1123623 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/12_2008/200266642-001.preview.jpg" alt="" title="" class="image right preview"width="314"></span>Do you ever find yourself wishing that your paycheck was just "x" amount of dollars more, thinking that if you had a bigger spread between the money you earn and what you spend your debt would disappear and your savings would be lush? Even the most die-hard budget following savers may wish they didn't have to be so extreme in their money practices and have a little more wiggle room for fun expenses. Earning money outside of your full-time job can come in two forms, either an alternative income source or additional income from a second job. Think about how much impact a few thousand dollars more a year would have on your financial situation, and it doesn't take much time or effort to earn that extra cash. </p> <p>If you’re finding yourself with barely enough to make debt payments or save after living expenses are paid, then earning some money on the side could be a savvy solution for you. Start by thinking about what you like to do and then see how you can capitalize on your interests and hobbies. Laziness is often the biggest factor in not advancing with an income idea — don't let tired motivation hold you back from getting where you want to be financially. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/1123623#comment income salary Savvy ATM Savvy Solution Tue, 18 Mar 2008 06:23:37 -0700 SavvySugar http://www.savvysugar.com/1123623 http://www.savvysugar.com/1112880 <p>Because I'm so protective of my financial health, identity theft scares me like <b>When a Stranger Calls</b> (the original) scared me in elementary school. Identity theft comes with its own version of a horror movie, and the financially and emotionally draining aftermath can take years to clean up. While freezing your credit report isn't an option if you're currently applying for new credit or loans, it could be a good option for those of us who aren't planning on making any new credit moves any time soon. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/11_2008/med424024.preview.jpg" alt="" title="" class="image center preview" height="366" width="550"></span></p> <p>Freezing your credit report means that you can't be considered for new credit until you've disabled the freeze. This isn't a solution that comes without its own hassles. You'll have to pay a small fee to place or lift a freeze, it takes a few days to get a freeze removed, and there's a PIN number you'll need to keep track of and will need to use whenever you lift a freeze. Do you think the peace of mind achieved from knowing a thief can't open new credit in your name is worth these hassles?</p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/1112880#comment credit report credit score identity theft Savvy ATM Savvy Solution Thu, 13 Mar 2008 15:26:49 -0700 SavvySugar http://www.savvysugar.com/1112880 http://www.savvysugar.com/1108041 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/11_2008/stk108696cor.jpg" alt="" title="" class="image left preview"width="313"></span>So your credit cards are maxed out and you're up to your neck in debt, and you're looking for someone or something to come and tell you what to do. The prevalence of heavy debt has caused more debt-settlement firms to pop up in the US than ever before, and people turning to these services are coming out even more in the red than when they went in. To read about what the deal is with these often shady enterprises just </p> <p><a href="http://www.savvysugar.com/1108041">read more</a></p> http://www.savvysugar.com/1108041#comment credit card debt debt Savvy ATM Tue, 11 Mar 2008 06:28:11 -0700 SavvySugar http://www.savvysugar.com/1108041 http://www.savvysugar.com/879496 <p><span class="inline left"><img src="http://images.teamsugar.com/files/users/10/104165/51_2007/dv0301428a.preview.jpg" alt="" title="" class="image right preview" height="400" width="350"></span>We've been talking about why it's crucial to invest in retirement accounts, how much you should contribute, and the benefits of saving. But how should you invest the money once it's taken out of your check? </p> <p>In the world of the 401(k), the most common option is a participant-directed plan, which allows the employee to choose from an assortment of investments. If you haven't spent much time dealing with investments, the array of choices can be intimidating and you may find yourself wanting to change your mind about that 401(k). This isn't an option! The answer is the same as most things in life — just simplify your choices. Check out some options when you </p> <p><a href="http://www.savvysugar.com/879496">read more</a></p> http://www.savvysugar.com/879496#comment 401(k) 401(k) Focus investing retirement Savvy ATM Savvy Solution Fri, 07 Mar 2008 09:55:09 -0800 SavvySugar http://www.savvysugar.com/879496 http://www.savvysugar.com/1091693 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/10_2008/banking_fees_new3.jpg" alt="" title="" class="image left preview" height="306" width="220"></span>Fee, fi, fo, fum, do you smell your money going down the drain? You may have noticed the fees your bank charges when you've been bad or for just having and using your account — or maybe you haven't been paying attention. Banking fees have risen steadily in the past few years to cover business costs and deal with tough economic times, but a government study released yesterday shows that <a href="http://money.cnn.com/2008/03/03/news/companies/bank_fees/index.htm?section=money_pf/" target="_blank">most consumers are unaware</a> of these banking fees they've been paying on their accounts. </p> <p>This is especially alarming when you consider that some fees have risen in double-digit increments since 2000 — the study shows that overdraft fees have increased 11 percent. Banks are legally obligated to disclose fees to consumers, but the study's researchers couldn't find fee information on half of the banks' websites. However, the FDIC was able to calculate that consumers paid more than $36 billion in banking fees during 2006. How informed are you about the fees charged to your bank account? </p> http://www.savvysugar.com/1091693#comment Banking fees Savvy ATM Tue, 04 Mar 2008 14:37:15 -0800 SavvySugar http://www.savvysugar.com/1091693 http://www.savvysugar.com/1086859 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/09_2008/stk27434sig.preview.jpg" alt="" title="" class="image left preview" height="480"></span>The first thought I have when I hear 401(k) is that it's a great tool for retirement savings. The second isn't so positive, but it's a fact of investing and something we must pay attention to if we want to make the most of our savings. 401(k) accounts can be ridden with hidden fees that could eat up your retirement savings. I know it sounds extreme, but consider this: <a href="http://consumerist.com/351048/how-your-401k-is-ripping-you-off/" target="_blank">A 2006 study by Congress</a> found that increasing fees by 1 percent reduces your 401(k) returns by about 17 percent. </p> <p>In their example, if you invest $20,000 in a 401(k) that charges fees of 1.5 percent, over 20 years you end up with $58,000. But if the fees were .5 percent you would end up with $70,500. And if you have a 35 year time frame you should retire with $220,000, but fees would reduce that number to $163,000.<br /> How is this possible? To find out just </p> <p><a href="http://www.savvysugar.com/1086859">read more</a></p> http://www.savvysugar.com/1086859#comment 401(k) 401(k) Focus 401k retirement Savvy ATM Savvy Solution Mon, 03 Mar 2008 06:51:43 -0800 SavvySugar http://www.savvysugar.com/1086859 http://www.savvysugar.com/879622 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/09_2008/dv117070.preview.jpg" alt="" title="" class="image right preview"width="313"></span>You've impressed with your savvy and a bigger, better opportunity has come your way. You've said your good-byes to your co-workers, packed up the few personal photos that kept you sane, and received your last paycheck. There's one final thing on your checklist before you can fully forget about your before and convert to the after that you worked so hard to get. You need to do something with your 401(k) that's connected to your old employer! To find out how just </p> <p><a href="http://www.savvysugar.com/879622">read more</a></p> http://www.savvysugar.com/879622#comment 401(k) 401(k) Focus retirement Savvy ATM Savvy Solution Tue, 26 Feb 2008 14:04:55 -0800 SavvySugar http://www.savvysugar.com/879622 http://www.savvysugar.com/946710 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/02_2008/AA036591.preview.jpg" alt="" title="" class="image left preview" width="340"></span><br /> If home ownership is a personal goal for you, then you and I have something in common! I'm excited for the day that I have a home sweet home, and I am constantly thinking about what it will take financially to get there. Here are some questions we should all ask ourselves and steps we should take in deciding to take the leap from renters to owners.<br /> <br><br /> <br></p> <ul> <li><b>How long would you plan to live in your new home?</b> The general consensus is that if the answer is three years or fewer, keep your renter identity until you're ready to settle in a bit longer. It takes some time to break even on the closing expenses.</li> <li><b>Are you ready to give up the flexibility of renting?</b> When my washing machine broke a few months ago, it was replaced with a new one free of charge. You will have higher maintenance fees when you own a home.</li> <li><b>How much do I need to save for a down payment and closing costs?</b> If you put a minimal down payment, you may need to get private mortgage insurance until you have sufficient equity in the home. Closing expenses generally range from three to eight percent of the house price, depending on various factors.</li> <li><b>Will I have enough money each month to pay the mortgage, insurance, maintenance costs, and property taxes?</b> Suze Orman <a href="http://biz.yahoo.com/pfg/e10buyrent/" target="_blank">wrote about an exercise</a> that I think is worthwhile. She noted that, on average, you need to add another 40 to 45 percent to your monthly mortgage payment to get a more accurate total monthly cost. Assuming that your mortgage payment is similar in cost to your rent, open up a savings account and deposit the equivalent of the 40 to 45 percent to get an idea if you could handle the extra expenses. </li> </ul> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/2/22911/02_2008/logo_equal_housing.preview.jpg" alt="" title="" class="image right preview" width="50"></span>Using a <a href="http://partners.leadfusion.com/tools/wamu/home10/tool.fcs" target="_blank">buy vs. rent calculator</a> can be a helpful when figuring out if you should rent or buy your abode. </p> <p><span style='font-size:12px !important;'>For informational purposes only. Consult your financial adviser regarding the benefits of buying or renting. Total Deposits at Washington Mutual are FDIC insured. <i>Thank you to WaMu for sponsoring this post.</i></span></p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> <script type='text/javascript'><!--//<![CDATA[ var m3_u = (location.protocol=='https:'?'https://m.teamsugar.com/www/delivery/ajs.php':'http://m.teamsugar.com/www/delivery/ajs.php'); var m3_r = Math.floor(Math.random()*99999999999); if (!document.MAX_used) document.MAX_used = ','; document.write ("<scr"+"ipt type='text/javascript' src='"+m3_u); document.write ("?zoneid=335"); document.write ('&amp;cb=' + m3_r); if (document.MAX_used != ',') document.write ("&amp;exclude=" + document.MAX_used); document.write ("&amp;loc=" + escape(window.location)); if (document.referrer) document.write ("&amp;referer=" + escape(document.referrer)); if (document.context) document.write ("&context=" + escape(document.context)); if (document.mmm_fo) document.write ("&amp;mmm_fo=1"); document.write ("'></scr"+"ipt>"); //]]>--></script><p><noscript><a href='http://m.teamsugar.com/www/delivery/ck.php?n=a2b662c6&amp;cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://m.teamsugar.com/www/delivery/avw.php?zoneid=335&amp;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a2b662c6' border='0' alt='' /></a></noscript></p> http://www.savvysugar.com/946710#comment housing real estate Savvy ATM Savvy Solution WaMu WaMu 2/18 Washington Mutual advertorial Mon, 18 Feb 2008 09:50:41 -0800 SavvySugar http://www.savvysugar.com/946710 http://www.savvysugar.com/930979 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/02_2008/stk63020cor.preview.jpg" alt="" title="" class="image left preview" height="350" width="350"></span>When you sign up for a new <a href="http://teamsugar.com/find/fitsugar/cost+of+gym+membership/" >gym membership</a> there's no guarantee for a beautiful behind, but more likely than not there's a guarantee that you'll have to sign a contract. I'm a big advocate of doing anything that promotes health, but there are some questions you'll want to ask before committing to one gym over another. To find out why you should pause before signing up at whatever gym is closest to your home just </p> <p><a href="http://www.savvysugar.com/930979">read more</a></p> http://www.savvysugar.com/930979#comment cost of gym memberships Savvy ATM Savvy Solution Wed, 13 Feb 2008 11:19:43 -0800 SavvySugar http://www.savvysugar.com/930979 http://www.savvysugar.com/1020038 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/06_2008/stk15892wbf.preview.jpg" alt="" title="" class="image right preview" height="420"></span>You already know the <a href="http://savvysugar.com/870054/" >importance of investing in a 401(k)</a> if your employer offers one, but what if that's not an option for you or you've already invested as much as your company will match? This is where an individual retirement account (IRA) comes in to play and there are two types: Roth IRA and Traditional IRA. Tax structure is the biggest difference between the two options. </p> <p>If you're already participating in a tax deferred retirement plan (like a 401(k)) and your salary meets the income limitations for Roth IRAs, start investing while your salary is low enough to get in. If you're filing your taxes as single you can't earn over $95,000, and if you file jointly your income can't exceed $150,000. To learn what's so great about Roth IRAs just </p> <p><a href="http://www.savvysugar.com/1020038">read more</a></p> http://www.savvysugar.com/1020038#comment 401(k) 401(k) Focus IRA retirement Roth IRA Savvy ATM Savvy Solution Thu, 07 Feb 2008 09:38:27 -0800 SavvySugar http://www.savvysugar.com/1020038 http://www.savvysugar.com/870054 <p>If you're an athlete, 401(k) sounds like it should be the length of some torturous marathon. Retirement as a goal really <i>is</i> like a long, slow marathon, and a well mapped out plan makes finishing on your feet a real possibility. <span class="inline left"><img src="http://images.teamsugar.com/files/users/10/104165/50_2007/rbrb_2109.preview.jpg" alt="" title="" class="image right preview" height="420"></span></p> <p>If your employer offers a 401(k) plan, you should take advantage of it immediately — especially if your company matches. Most large company plans match 50 percent of your contributions and up to six percent of your salary. If your match is less than the norm it's still beneficial to participate, because any type of match means free money. </p> <p>If you think you can't afford to contribute much, start small and increase the contribution amount by one percent each quarter. The contributions you make to your 401(k) are pre-tax dollars, so if you're in a 30 percent combined (federal and state) tax bracket, each dollar you put into a 401(k) will reduce your paycheck by just 70 cents.</p> <p>Does your employer offer a 401(k)? If so, are you a participant? </p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/870054#comment 401(k) Focus 401k retirement Savvy ATM Savvy Solution Mon, 04 Feb 2008 06:40:35 -0800 SavvySugar http://www.savvysugar.com/870054 http://www.savvysugar.com/984229 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/04_2008/dv1693027.preview.jpg" alt="" title="" class="image right preview" height="450" width="356"></span>When we chatted about canceling <a href="http://savvysugar.com/953813/" >idle credit cards</a>, some of you were wondering how to know if you have too much plastic. Most Americans own <a href="http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/HowManyCreditCardsIsTooMany.aspx/" target="_blank">between five and ten</a> credit cards, but the sweet spot is between two and six cards. </p> <p>There's not a magic number of credit cards for each person. Your spending habits, how much you're able to pay off, and how much credit it would take to keep your debt-to-credit ratio below 30 percent all factor in to how many cards you should have. </p> <p>If you have so many cards that you can't keep track of spending or when your payments are due, it's time to rethink your credit strategy. Experian, one of the nation's major credit reporting agencies, says that having a good track record of paying on time <a href="http://www.experian.com/consumer/credit_score_faqs.html#21/" target="_blank">is the most important factor</a> in developing a good credit history. A couple of late fees can bring down your <a href="http://savvysugar.com/919909/" >credit score</a> and possibly bump up the rates on your other credit cards. </p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/984229#comment credit card credit card debt Savvy ATM Savvy Solution Wed, 30 Jan 2008 03:58:32 -0800 SavvySugar http://www.savvysugar.com/984229 http://www.savvysugar.com/979332 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/04_2008/med411024.preview.jpg" alt="" title="" class="image right preview" height="350" width="350"></span>If you have an existing traditional IRA or Roth IRA it's not too late to make your 2007 contribution. And if you've been putting off opening an account, you still have time to get one up and running! The contribution limit for 2007 is $4,000 (or $5,000 if you're over 50), but that doesn't mean you have to meet the maximum. Every little bit counts! Make sure that you tell the company that holds your IRA to consider the contribution for 2007. Otherwise, they may mistakenly classify it for 2008. You have until April 15 to make the previous year (2007) contribution. The same rules don't apply for your 401(k) — any money that goes into that account in 2008 can only count as part of your current year contribution. </p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/979332#comment IRA retirement Savvy ATM Savvy Solution Wed, 23 Jan 2008 10:49:30 -0800 SavvySugar http://www.savvysugar.com/979332 http://www.savvysugar.com/964946 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/03_2008/200427506-001.preview.jpg" alt="" title="" class="image right preview" height="450"></span>Chances are some of you received gift cards this past holiday season. And odds are some of them are still sitting in that pile you keep meaning to go through, running the risk of going to complete waste. Gift card delinquency is extremely common — <a href="http://www.mercurynews.com/business/ci_7959910?nclick_check=1/" target="_blank">a business research firm estimated</a> that out of the $97 billion in gift cards purchased in 2007, $7.8 billion wouldn't be redeemed. </p> <p>Some gift cards expire or lose value after some time, so before you forget all about those pint sized gifts go out and use them! Even if the corresponding store is a place you tend to avoid, at least go in and buy some socks. And if you really don't want the gift card, you may want to consider <a href="http://www.certificateswap.com/" target="_blank">selling it online</a>. </p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/964946#comment Savvy ATM Savvy Solution shopping tip Fri, 18 Jan 2008 09:24:09 -0800 SavvySugar http://www.savvysugar.com/964946 http://www.savvysugar.com/956884 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/03_2008/41PVr6eoX4L._AA280_.jpg" alt="" title="" class="image left preview" height="280" width="280"></span>Most of our heating bills are naturally higher during these chilly, Winter months, but sometimes I forget to turn off my thermostat when I'm rushing out the door to work. That pushes my bill up even higher — and what a waste! A solution for forgetful people like me would be to invest in a <a href="http://www.amazon.com/Smart-Temp-Programmable-Thermostat-TX500/dp/B0000CBJK5?ie=UTF8&amp;s=hi&amp;qid=1200061487&amp;sr=8-7/" target="_blank">programmable thermostat ($35)</a>. You can set the thermostat ahead of time with up to four settings a day. </p> http://www.savvysugar.com/956884#comment bills saving Savvy ATM spending tip Wed, 16 Jan 2008 13:58:22 -0800 SavvySugar http://www.savvysugar.com/956884 http://www.savvysugar.com/942122 <p>A W-4 is the form that tells your employer how much they should withhold in taxes. If you've ever found yourself just staring at the form not sure what to make of it, you're not alone! Those forms can be slightly frustrating, but the basic thing you should remember is that the more allowances you claim on your W-4, the less income tax will be withheld and vice versa. So, if I claim one and you claim two, more taxes will be withheld from my paycheck than yours. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/02_2008/75288261.preview.jpg" alt="" title="" class="image center preview" height="367" width="550"></span></p> <p>You should review your W-4 each year after you've completed your tax return, and you can make adjustments to have more or less income tax withheld. The form gives some guidance as to what exemptions you should select, but this <a href="http://www.irs.gov/individuals/page/0,,id=14806,00.html/" target="_blank">IRS Withholding Calculator</a> is a helpful tool.</p> <p>Your W-4 may be outdated if your life has taken a new direction in any of the following ways. To find out what they are </p> <p><a href="http://www.savvysugar.com/942122">read more</a></p> http://www.savvysugar.com/942122#comment Savvy ATM Savvy Solution taxes tip Wed, 16 Jan 2008 09:24:22 -0800 SavvySugar http://www.savvysugar.com/942122 http://www.savvysugar.com/954618 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/02_2008/RET_050.preview.jpg" alt="" title="" class="image right preview" height="370" width="370"></span>Do you find newspaper coupons to be tedious or feel uncomfortable whipping out a wad of clipped coupons at the cash register? Online coupons may be the solution to help you save money at the <a href="http://savvysugar.com/903199/" >ever more pricey grocery store</a> while simplifying the world of coupons. How would it work, exactly? You'd simply load the online coupons on to your customer loyalty cards, and your card would be scanned at the checkout.</p> <p>Kroger Co., the nation's largest traditional grocery chain, and Procter &amp; Gamble Co., the largest consumer products company, <a href="http://www.businessweek.com/ap/financialnews/D8U55NN81.htm/" target="_blank">partnered in a digital coupon trial that started in December</a>. Other supermarkets are testing out their own paperless coupons as well, but that doesn't mean that paper coupons will be completely obsolete. It's just one more option to accommodate an increasingly digital world. </p> <p>I hope that the online coupon trend continues and catches on nationwide. I know that I'd be more likely to poke around for coupons online than in the paper. What about you? </p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/954618#comment coupon news Savvy ATM Savvy Solution shopping tip Mon, 14 Jan 2008 07:56:06 -0800 SavvySugar http://www.savvysugar.com/954618 http://www.savvysugar.com/912624 <p>Have you heard of lifestyle inflation? It basically means buying things just because you can afford them. Think about it like this: You worked relentlessly over the past year and got yourself a sweet raise. You then spend according to your new salary and don't save any more than you did before you got the raise. Sound familiar?</p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/01_2008/dv1612032.jpg" alt="" title="" class="image right preview"width="380"></span> </p> <p>I'll admit that I've succumbed to lifestyle inflation in the past, though only in very calculated amounts. For example, I got a raise and moved out of my shared apartment in to a more expensive apartment on my own. While I knew I'd be barely living within my means, it was an important move for me and I told myself I'd only live there for a year. And that's just what I did. If I hadn't ended it then, my savings account would be pretty much non-existent by now because it wasn't a sustainable situation. </p> <p>Lifestyle inflation becomes a problem when your spending levels can't realistically be maintained for the long term. Next time you get a raise, ask yourself if you could have lived without it. Then, buy yourself a pair of high quality power heels that will last a while and put the rest in to your retirement and savings accounts. </p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/912624#comment salary savings Savvy ATM Savvy Solution Fri, 11 Jan 2008 06:31:06 -0800 SavvySugar http://www.savvysugar.com/912624 http://www.savvysugar.com/893152 <p><span class="inline center"><img src="http://images.teamsugar.com/files/users/10/104165/51_2007/stk96387cor.preview.jpg" alt="" title="" class="image right outline preview" height="300"></span>I always find stories that interest me in <b>Glamour</b>. It's my favorite magazine because I think it offers something for most women. An article titled "<a href="http://www.glamour.com/lifestyle/articles/2007/12/getoutofdebt" target="_blank">Make this the year you get out of debt</a>" particularly caught my eye, and not just because it had debt in the title. The introduction to the story went like this:</p> <blockquote><p>"Molly, 24, is the luckiest person in the world. She has a new boyfriend, lives in a trendy Brooklyn neighborhood and has a stylish gig designing clothes for a company that flies her to Europe literally just to shop."</p></blockquote> <p>Sounds like she's got it made, until you read the rest of the article and discover that she has $79,000 in debt! That number made my jaw drop, as not a penny of that number is linked to a mortgage. She rents her apartment and has four maxed out credit cards. Molly's not alone with her ghastly debt; a LendingTree online survey showed that 32 percent of women ages 25 to 34 have at least $10,000 in credit card debt only. </p> <p>Unless you're earning millions of dollars, carrying almost $80,000 in credit card debt is way too much. But is there any level of debt that's acceptable? I think many people decide they have too much debt when they simply feel like they've reached their threshold. But using your emotions to figure out your capacity for debt is like Karen Smith forecasting the weather via her breasts in <b>Mean Girls</b>. There's actually a pretty simple formula to help you figure out if you have too much debt. To find out what it is, just </p> <p><a href="http://www.savvysugar.com/893152">read more</a></p> http://www.savvysugar.com/893152#comment credit card debt Savvy ATM Savvy Solution Wed, 09 Jan 2008 09:02:45 -0800 SavvySugar http://www.savvysugar.com/893152 http://www.savvysugar.com/904920 <p>While the holidays are behind us, hopefully you're still holding on to your bonus if you received one. I know that many companies don't give bonuses until February or March, so if you work for one of them then you have some time to decide your bonus's destiny. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl0/10/104165/01_2008/55842487.preview.jpg" alt="" title="" class="image right preview" height="420"></span></p> <p>Many companies give the option of directing a percentage of your bonus into your 401(k). It's a great option because that money skips your bank account and heads straight for your retirement account. In the past, I've used part of my bonus to pay off any lingering credit card debt which should be high on your <a href="http://www.careerjournal.com/myc/workfamily/20071220-loeb.html?mod=RSS_Career_Journal&amp;cjrss=frontpage/" target="_blank">list of priorities</a>. </p> <p>I'm sure what I'm about to say would enrage some really serious savers, but I think it's okay to treat yourself to something with a designated amount from your bonus after you've taken care of the items mentioned above. Think of it like a little allowance to buy yourself something fab that you've had your eye on for awhile, or maybe put some of your bonus towards a vacation fund. As long as you're financially healthy, why not live a little? Just make sure you don't spend your bonus before it's given to you. </p> <p><a href="http://gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/904920#comment 401(k) bonus savings Savvy ATM Savvy Solution Mon, 07 Jan 2008 11:48:22 -0800 SavvySugar http://www.savvysugar.com/904920