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19
Sep

Build An Emergency Fund Fast With These Easy Tips

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Do you have an emergency fund? If you said no, you are not alone. There are millions of Americans that are living without any savings that they could draw on in the event of an emergency. The share of working Americans living paycheck to paycheck has increased considerably in the last decade and consumer debt has skyrocketed over the same period.

Cash-strapped individuals have a harder time saving for their future because there are so many demands on their limited number of dollars, but having an emergency savings account that is well funded can increase financial stability and reduce the accumulation of high interest debt. Emergency funds are so key to financial stability that everyone should have one. Here are some tips that will help you build an emergency fund fast.

Choose A Set Amount To Save

Choosing a set amount to save each pay period is a good way to start building your emergency fund fast. You should choose an amount that you can afford to save while still maintaining your current lifestyle to make the transition easy. It does not matter what amount you begin to save as long as you are saving something. If the amount of your paycheck fluctuates each pay period, you can choose to save a percentage of income instead of a specific dollar amount. As your income grows, the amount of money placed in your savings account should grow as well and choosing a set percentage is a good way to ensure that happens.

Direct Deposit Your Savings

To make sure that the amount you intend to save actually gets into your emergency fund; you should have your designated amount deposited directly into the account each pay period. Most employers that offer direct deposit will allow you to split your deposit into several accounts and you can designate the amount that is put into each account. Once your emergency fund is fully funded, you can divert the amount into another type of savings account, like an individual retirement account or a college saving account.

Save At Least Half Of Windfall Payments

If you receive a large amount of money outside of your paycheck, such as an income tax refund, a bonus, or some type of winnings, you should deposit at least half the amount into your emergency fund. This gives you a considerable amount to spend on current needs while saving the rest for your future needs. Having the discipline to save half of these payments will boost your emergency fund by a considerable amount and help you reach your saving goals faster.

16
Sep

Common Credit Card Mistakes That Can Cost You A Lot Of Money

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Photograph Courtesy Of Giuseppe Leto Barone

Using your credit card wisely in a way that improves your credit score can be trickier than you think. It is much easier to make a mistake with your credit card that will lower your credit score and cause you to be charged a higher rate for credit products, insurance, and housing. There are some credit card mistakes that have financial consequences that reverberate for many years after the initial action. Here are the credit card mistakes that tend to cost you the most over time.

Maxing Out Your Credit Card

Maxing out your credit card or spending very close to the total credit limit can be a very costly mistake. When you max out your credit card, you are being charged a significant amount of interest on the balance you are carrying and paying the minimum payment will barely budge the total amount that you owe. Maxing out the credit card also increases the chances that you will go over your credit limit, causing an immediate, dramatic drop in your credit score. If you find yourself carrying a balance on the credit card from month to month and getting close to your balance, take the card out of your wallet and do not place any more purchases on the card until you have paid down the balance.

Being More Than 30 Days Late On A Payment

Making a payment a couple of hours or days late will have an impact on your credit score, but not nearly as big of an impact as making a payment more than 30 days late. Making payments more than thirty days late is a big red flag to potential creditors that you do not have the funds to cover the credit that you have used and your credit score will reflect this by dropping considerably. In addition to the reduction in your credit score, the negative information about the missed payment will remain on your credit history for seven years or more. To avoid this mistake, try to pay your credit card bill as soon as it arrives in the mail. This makes it less likely that you will forget about your payment until your next statement arrives.

Taking Cash Advances

A cash advance from a credit card is very expensive, often having an interest rate that is much higher than the rate that you are charged for purchases. If you carry a balance on your credit card, you could be paying hundreds more in interest over the course of a year due to the higher rate charged for cash advances. Avoid taking cash advances with your credit cards at all costs and make sure you are saving money in an emergency fund so you will have the cash that you need in the event that you must pay cash to solve an issue.

11
Sep

Slash Your Spending With These Smartphone Apps

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Photograph Courtesy Of Pixabay

Most of the people that have smartphones rarely go anywhere without it. Smartphones have become such a part of everyday life that people have started using them for a variety of everyday tasks. Developers that create smartphone apps have designed a wide array of tools that can help you save money by reducing the amount you spend on everyday items. Here are some great smartphone apps that will help you slash your spending and save more money.

Coupon Sherpa – Coupon Finder

If you look hard enough, you can find a coupon for nearly anything you want to purchase. To make the search easier, the Coupon Sherpa app compiles a coupon database containing coupons for a wide variety of items, from hardware to clothing to food items. You can search through the coupons by retailer or search for coupons for specific items that you intend to buy. Using coupons regularly can save you a large amount of money over the course of the year if you stick to buying items that you will actually use, especially if you can find coupons for free items or half off the price of the item you desire.

RedLaser – Merchandise Price Comparison Tool

The RedLaser app is a great app for comparing prices before you buy, ensuring that you get the lowest price on the items that you want. If you are in a retail store, you can scan the bar code of the item you are interested in and instantly see competing prices from a number of retailers that list their prices on the internet. If you are in a store that offers price matching, you can immediately get a lower price on the merchandise. If the store you are in does not offer price matching, you always have the option of ordering the item from the retailer with the lower price.

GasBuddy – Gasoline Price Comparison Tool

Gasoline prices can vary significantly from station to station in the same city, so finding the best price on gas when you are low can be a difficult task. The GasBuddy app allows you to input your current location and see the gas prices at nearby stations so you can see where to go to get the best price. You can also enter the prices that you see at your local gas stations to provide the most up to date information for others who are searching as well. Prices are reported from everywhere, so this is a great app to have with you on a road trip.

10
Sep

In Search of the Highest Paying Jobs

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Did you know that doctors in the United States earn more than CEOs? The latest data given by the Bureau of Labor Statistics in the U.S. show that anesthesiologists earn more than anyone else in the United States. The study includes data from more than a million American companies. 9 of 10 highest paid professions relate to the field of medicine.

The salary of doctors is so high not only because of supply and demand in the market, but also because once they have invested a large sum for their own education. In the case of medical malpractice doctor pay very large sums for fines, so they have to buy insurance against possible charges of negligence. Besides medical workers, there are professions that are not much less well-paid. For example, accountant jobs. On JobTonic you will find accounting jobs that are available in Houston and other cities.

The top ten most paying jobs in the United States

  1. Anesthesiologist. High salary in this specialization reflects the responsibilities and risks associated with the work. Currently in the United States there are about 30 thousands anesthesiologists. During surgery, anesthesiologists control the work of the heart, breathing, blood pressure, body temperature, fluid balance in the body, the pain and the patient’s level of consciousness. To become an anesthesiologist in the United States, it is necessary study at least 9 years, and then practice for at least 3 years. American Society of Anesthesiologists says that the number of anesthesiologists has doubled since the 1970s, and patient outcomes have improved significantly. While the chance of dying during surgery due to anesthesia was approximately 1 to 1,500, now this number is 1 to 200 000. Average anesthetists receive $ 112 per hour, and their average annual salary is $232,830.
  2. Surgeon. There are about 42,000 of surgeons In the United States, their average wage is about $ 111 per hour, the average annual salary is about $230,000.
  3. Obstetrician-gynecologist. Total number is about 21 thousand people; the average salary is about $ 104 per hour; the average annual salary is $217,000.
  4. Surgical dentistry, maxillofacial surgery. Total number: about 5,000 people; the average annual salary: $216,000.
  5. General practitioner. Total number: about 45 thousand people; the average annual salary: $192,000.
  6. Orthodontist. Total number: about 5,500 people; the average annual salary: $186,000.
  7. Physician and surgeon (all other branches). Total number: about 308 thousand people; the average annual salary: $185,000.
  8. Family doctor. Total number: about 110 thousand people; the average annual salary: $181,000.
  9. Psychiatrist. Total number: about 24 thousand people; the average annual salary: 178,000.
  10. The Director-General. Corporate executives earn an average of $ 177,000 per year. But there are managers who earn much more. Maximum annual income of Director General in 2012 was $131 million (one of the pharmaceutical companies).

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