Save Money: Emergency Help with Utility Bills

Everyone can learn to save money on utility bills as they are directly related to your your water, gas and electricity consumption.

For starters, there are many upgrades or alterations you can make to your appliances that will drastically reduce the amount of resources you consume. In addition, certain lifestyle changes (e.g., using less hot water) can also have a pronounced effect on your overall utility costs.

Changes You Can Make

For starters, assess the following in your home and determine where your potential trouble spots are:

• Heating, Ventilation & Air Conditioning System (HVAC). Your HVAC system is the number one energy consumer in your entire home by leaps and bounds. The efficiency and effectiveness of this system is integral to maintaining an energy efficient home.
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  The ducts in your system can be a major source of energy loss if not properly configured. Leaks and inefficient installation can cause airflow to drop as well as pour conditioned air into areas that do not need it — such as the attic or outdoors.
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  Small,routine maintenance like changing air filters will also positively effect your system.If you have an older system, upgrading to a new one can quickly pay for itself thanks to the efficiency gains in the new equipment.

• Insulation. Taking steps to save money on utility bills without learning the importance of insulation is a waste of time.Insulation is like clothing for your home – it helps to retain the cool air or warm air you want, resulting in an HVAC system which runs less. The comfort benefits should not be understated, either.
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  Finally, the attic is widely considered the most cost-effective area of your home to insulate, so be sure to check that area first.

• Water Heater.Heating your home’s water is the third most costly energy consumer in your home. Older systems especially operate in an extremely inefficient manner, purchasing a new system if your existing water heater is over 10 years old is often recommended.
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  The default system setting that a unit is shipped with is often set much higher than need be; turning the unit down to 120 degrees should yield plenty of hot water for you and your loved ones at a substantially reduced hit to your utility bills.

Finding out how to save money on your utility bills does not have to be a mystery anymore. Evaluating how your home measures up in the three mentioned areas is great place to begin the steps to saving.

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Almost all individuals in the U.S. are infected with the habit of making the indiscreet use of credit card that eventually incur them an overwhelming credit card debt. According to the U.S. Census Bureau, U.S. citizens have over $886 billion in credit card debt and the figure is expected to rise to $1.177 trillion this year.

If you are also the one among the staggering number of debt stricken individuals, then you may consolidate credit card debt. But credit card consolidation involves certain eligibility criteria and other factors, so if you cannot qualify for it, you may look for other credit card debt relief options.

Credit Counseling: If you are under the pressure of insurmountable amount of credit card debt and are unable to manage it all by your self, then it is advisable to seek help from a credit counselor.

Credit Counselors can aid you manage your finances and pay off your debt as soon as possible. They will review your fiscal situation and will discuss with you about your debt problems in order to determine a suitable solution. They will even assist you in preparing your budget and provide you with free educational workshop in order to make you aware how to manage finances.

All these help in managing the debt and achieve a long term financial goal for future. These counselors are certified and trained in the areas of consumer credit, debt management, debt consolidation and budgeting. So they can also provide you with a personalized plan to consolidate your credit card debt and solve your debt problems.

Credit card debt consolidation: Credit card debt consolidation is a debt relief solution that consolidates all your debts into a lower monthly payment. This lowers the interest rate on the outstanding balance of debt and therefore reduces the monthly payment extending the length of the loan.

Typically, to take a consolidation loan, you will have to submit collateral in order to secure the consolidation loan. Any time you default on your loan, you may lose all your assets put as collateral.

Credit repair: Credit repair is a good option if you have any erroneous information on your credit. To find that out, order your credit report from the three credit report bureaus, TransUnion, Equifax, and Experian and take a close look to find out if there is any inaccurate or incomplete information.

If there is, hire the services of a credit repair company who will correspond with your creditors and repair it for free.

However, remember, it’s not so essential to hire someone to do this; you can do it by yourself as well. Improve your credit through a constant effort and sticking to personal debt repayment plan.

Debt settlement: Debt settlement is one of the best debt relief solutions for unsecured debts, like credit card debt. Debt settlement involves negotiating with creditors in order to lower the pay off amount by upto 30 to 60 percent.

Most debt settlement companies charge fees for their services, including a fee to establish the account with the debt negotiator, a monthly service fee, and a fee for a percentage of money that has supposedly been saved.

Bankruptcy: Bankruptcy is a legal status of an insolvent person who cannot repay the debt owed to the creditors. It is designed in such a way that a portion of debt is waived off through an order of the court. On the other hand, it is also designed to allow creditors to get their designated share of debt owed by the debtors.

In conclusion, if you are finding yourself under a knee-deep credit card debt, you may consider any of the above discussed credit card debt relief solutions.

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Although it is possible to withdraw money from your 401(k) plan before you retire, it is almost always a bad idea.

Designed to give individuals control over their retirement savings, 401(k)s enable employees to set aside pre-tax earnings into personal accounts. However, strict requirements and penalties apply to early withdraws from these accounts.


If you do withdraw money, you will have to include the funds you receive as income when you file taxes, and the withdrawal may be subject to an additional 10% tax penalty (unless you are 59 1/2 years old). This penalty is added on to your tax bill after you calculate deductions, so it has a dollar-for-dollar impact.

Your employer can provide you with the details regarding your specific plan and the withdrawal options. These options allow for withdrawals in the case of certain “hardships” defined by the IRS and listed below.

“Hardship” Withdrawals

The IRS defines various hardships for which your employer may allow you to withdraw 401(k) funds prior to retiring. These may include education or medical expenses for a family member; funds to purchase, repair, or prevent foreclosure on your home; funeral costs; and certain other expenses.

Certain hardships even waive the 10% penalty tax. For instance, if you need to redeem your 401(k) due to “total and permanent “disability there is no penalty, but you must still pay taxes on the funds.

Consider Other Options

As tempting as it may be, be sure to look to all available alternatives before you rob your retirement nest!

Some plans have loan provisions. Your 401(k) may allow you to borrow as much as half of your current balance. The interest you pay on this loan goes back into your own account! A home equity loan may be a better option (although “home equity” isn’t the source of funds it once was).

If other savings or loan sources are available, consider using them before you accept the tax penalties that accompany a 401(k) withdrawal. Early withdrawals from a 401(k) should be considered as a last resort, used only when other funding sources have been exhausted.

In addition to the penalties, you’ll forfeit the benefit of potential tax-deferred growth of your retirement funds.

In many cases, you have better options.

*This article is intended for informational purposes only and should not be construed at investment advice. Please consult an accountant or other licensed financial professional before making any financial or investment decisions.

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Confused by the volume of 401k plan advice available? If so, here are a few pointers to consider:

Without a doubt, enrolling in your company’s 401(k) plan can be intimidating, as there are some quick decisions to make. For example, you may be wondering “How much should I contribute from each paycheck?” and  “Which investments are the best?”

Contributing to the stress, there is often a lot of documentation to weed through to get everything set up. The good news, though, is that once you have enrolled and begin contributing to the plan, things will go a lot more smoothly and you’ll look forward to periodic statements showing you how quickly your retirement nest egg is growing.

In the meantime, you’ll want to focus on a few key issues:

1. How much should I contribute to my 401(k)?
   
   The simplest answer is: as much as possible! However, first consider how much you require for living expenses carefully and be sure to take home enough of your paycheck to meet your everyday needs.If your employer offers a “match” – an amount that is put in to your account to match a percentage of your contribution – make every effort to put in as much as your employer will match. After all – it’s “free money!”
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2. Which investment option should I choose?
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   Don’t be embarrassed to ask your human resources department for some help. They may recommend that you contact the investment manager that advises your 401(k) options, but good information is available either way. In general, if you don’t expect to retire for many years, equity investments such as common stock mutual funds offer the greatest long term potential.
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   .Increasingly popular 401(k) options are “target” funds, which continuously invest your funds with an eye towards your expected retirement date. If you don’t have any appetite for investment risk, your plan will offer a very conservative money market or fixed interest option as well.
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3. Is my money locked up until I retire?
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   You should initiate your 401(k) investment with the goal of building a substantial nest egg to assist you through your retirement. However, your plan probably permits access to your funds in certain cases of financial “hardship.” As you begin to contribute to your plan, it would be a good idea to ask about the circumstances in which you can withdraw funds. Remember that even if your employer allows access to your funds, an early withdrawal will always result in certain tax obligations and penalties.

Regardless of which 401k plan advice you choose to follow – the key is to start your participation with the appropriate goal in mind: your long-term financial security.

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When you’re under financial duress, it may be tempting to look to your 401(k) balance as a source of relief. Your employer’s plan may have provisions that allow you to withdraw money for certain “hardships” such as major medical expenses.


Before you tap your 401(k), however, consider the immediate and long-term costs:

• The amount that you withdraw is added to your taxable income for the current year. The 401(k) funds you withdraw will be taxed at the highest incremental rate you pay, so it’s important to have your employer withhold enough so that you don’t get a nasty surprise at tax time.
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• The IRS tacks an additional 10% penalty on to most withdrawals. This is calculated after you have taken all income deductions, so you forfeit 10 cents for every dollar that you withdraw.  (Under some circumstances, such as “total and permanent” disability, the 10% penalty is waived)
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• At a time when government-sponsored retirement programs such as social security are experiencing fiscal challenges, you will be diminishing your potential retirement savings.

Much is made of our ability to make “pre-tax” contributions to 401(k) plans.  Contributions to your 401(k) are sheltered from current taxes. You aren’t required to pay tax on 401(k) contributions or earnings until you begin withdrawing the money after age 59 1/2. At that time, you may be in a lower income tax bracket.

The greatest benefit of a 401(k) plan, however, may be the tax-deferred gains that it allows you to accumulate over a long period of time. A $10,000 investment that compounds a 6% return for 20 years will return $32,071 at the end of the period. But a 4% return on the same investment (which might reflect your results if you had to pay taxes each year on your earnings) would only return $21,911. Investing through a 401(k) enables you to avoid yearly taxation, and the difference this makes can be tremendous!

Most experts advise 401(k) plan participants to look to all other options before considering a plan withdrawal prior to retirement.  For instance, before initiating a hardship withdrawal, ask your employer if the plan has a loan feature.  IRS rules allow loans of up to 1/2 the value of 401(k) accounts. If you can manage it, that’s a far better option than a straight withdrawal.

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Today’s guest post is by Cheryl Garabedian, a 23+ year veteran of the credit card processing industry. Her site, AcceptMobileTransactions.com, is dedicated to helping entrepreneurs find the best small business credit card processing option for their unique situation.

In today’s economy, it is important for small business owners to eliminate unnecessary expenses wherever possible. After all, it just makes good business sense to keep operating costs under control in order to boost profit margins. Throughout the course of my 23-year career in the credit card processing industry, I have shown thousands of small business owners how to improve cash flow, while keeping costs in check.

Of course, the ability to accept credit card payment is now a necessity. Fact is, most of your customers expect to be able to pull out their credit or debit card for everything from groceries to oil changes to major home repairs. As a result, accepting credit card transactions is a necessary part of operating a business.

Here are 3 of my favorite tips to save money on credit card processing fees:

1. Be Skeptical of “Free.” Too often, I find merchants who were lured into accepting unfavorable credit card processing terms with false or deceptive promises of “free equipment” (or worse – “free merchant accounts.”) In my experience, “free” equipment almost never is. While it may be tempting to save a few hundred dollars on  a new terminal, you often end up paying for it many times over in the form of higher transaction costs, minimum monthly fees and other unnecessary charges.

Instead, be sure to look at the whole picture before making a decision. Get a clear picture of the transaction rates and monthly fees* you’ll be charged in writing. Also, look into purchasing your own equipment – it is possible to find relatively inexpensive, reliable and PCI-compliant terminals by doing your homework – or working with a reputable merchant account provider. (Refurbished equipment that comes with a guarantee is also a great way to cut costs).

(Note: I wouldn’t agree to any contract which tries to lock you into monthly minimum fees).

Another popular alternative is to convert your mobile phone into a mobile credit card terminal. For example, for around $125, you can purchase a credit card encryption sleeve which slides over your iPhone to instantly accept credit card transactions. This option is a great solution for on-the-go entrepreneurs, such as trade professionals, business consultants or crafters/artisans.

2. “Swipe” Transactions Whenever Possible. Physically “swiping” a credit card at the point of purchase almost always carries lower transaction costs than manually entered (or “keyed-in”) transactions. This is because “swiped” transactions simply carry less risk of fraud or human error. This is a main reason why converting an iPhone or other mobile device into a mobile credit card terminal is such a great option for business owners, like roofers, marketing consultants and craft/trade show vendors who conduct the majority of their transactions away from their office or studio.

3. Ask for Separate Pricing for Debit Transactions. Debit card transactions cost less to process than credit card transactions. Therefore, if your business accepts a lot of debit card transactions, you may be able to save a significant sum of money by having debit cards broken out from credit card transactions in your contract. Unfortunately, many credit card processing reps tend to bundle them together because it is more profitable to do so.

Tip: When talking to a potential merchant account provider, ask if they offer “6-tier ” or “Interchange plus” pricing options. Some may only offer 4 tiers, but what matters is that they are willing to break out swiped debit transactions from swiped credit card transactions.

And now I would like to offer you a complimentary, no-obligation review of your current merchant account to recommend ways you may be able to keep a little more money in your own pocket. To get started, simply contact me via phone or email today!

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Regardless of the current state of the real estate market, there are a few things homeowners can do to sell their property faster. Here are 6 tips to help sell your home fast.

1. Hire a Great Agent. Not all real estate agents are created equal. Before choosing an agent, make sure to check their references, background, and experience. An agent should have knowledge about your neighborhood and its market history. They should also have a clearly defined marketing plan for your property which spells out how they intend to help potential buyers find your home.

2. Set the Right Price. Setting the right price can either make or break the sale of your home. Your real estate agent should be able to suggest an appropriate price for your home based on its location and the current market conditions. If you set your price too high, chances are many qualified buyers will never take a look at it. On the other hand, setting your price too low will most likely leave money on the table. You may want to ask your real estate agent to show you a list of comparable properties that have sold in your area recently.

3. De-Clutter. Before any open houses or private showing, be sure to remove any clutter and tidy up. Pack away items that are not frequently used and remove family photos from walls and shelves. Remember, you want potential buyers to focus on your home, not your recent trip to the beach. Also, make your house look more spacious by getting rid of unnecessary furniture, clearing out cabinets and removing unnecessary items from shelves and table tops.

4. Set the Stage. Home staging is a great way to sell your home fast. The secret to home staging is to neutralize any taste-specific design choices to make it easier for buyers to see themselves living in the space. Updating outdated fixtures and selecting a neutral color palate are inexpensive ways to broaden the appeal of your home.

5. Make Repairs. Fix minor problems like leaky faucets or chipped paint before buyers see your house. The goal is to eliminate as many potential negatives as possible before you put your house on the market. You want buyers to envision themselves moving right in without having to make any repairs first.

6. Get Out of Dodge. When potential home buyers visit your house, it is best not to be there. Buyers may be afraid to freely express their opinions or ask questions if you are present. So jump in your car (with your pets if possible) and find a pleasant way to pass the time until your showing is complete.

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Finding the right real estate agent to sell your home is important if you want to get the best price in the shortest amount of time. Of course, there is a lot more to selling your home than simply placing a “for sale” sign in your yard or posting a listing on the Internet. A professional Realtor will employ many methods to attract potential buyers to your property and will guide you through the complicated legal process of transferring ownership to the new buyer.

Selecting an agent to represent your property can be confusing. However, there are a number of things you can do to increase your chances of finding the best real estate agent to sell your home.

Here Are 6 Tips To Help You Get Started:

1. Conduct Interviews. The best way to get to know potential real estate agents is by talking to them personally. Remember, whoever you choose is going to be handling one of your most important assets – so make sure your feel comfortable with this person! Ask them how your property compares to competing properties in your area and what their marketing plan would be to get it sold in that environment. Also, be clear about what kind of communication you are expecting from them. Then, really listen to their response to determine if they will be able to meet your expectations in that area.

2. Examine Their Qualifications, Work History and Expertise.Before signing a contract, make sure your real estate agent has enough experience and expertise to adequately represent your interests. All professional real estate agents have to meet certain licensing requirements. However, not all agents are created equal and personal experience is not something that can be bought. In addition, the agent you choose should be very familiar with your local real estate market. It is important to work with a real estate agent who understands the competition in your area, your neighborhood’s transaction history, and current price trends. Finally, it may be a good idea to check the State Board of Realtors for any complaints that may have been filed against your potential agent.

3. Ask for Referrals.Ask your friends, family members and work associates for recommendations. Before you accept a referral at face value, be sure to ask the individual making the referral about his or her personal experience with that particular agent. While you are at it, don’t forget to inquire about the agent’s communication style, marketing methods and fees.

4. Learn about Their Approach to Customer Service.Open communication with your real estate agent is important, so you’ll want to make sure they are responsive to your concerns. It is okay if your agent has an assistant who communicates with you, as long as your agent is available to take your calls, reviews all contracts on your behalf, and is present for important transactions. How the agent communicates with you says a lot about how much they value your business and how serious they are about getting your home sold.

5. Attend Open Houses. Attending open houses allows you to see your potential real estate agent in action. This will give you a better feel for how they interact with potential buyers and how actively they promote their listings. Also, keep in mind that not all real estate agents are willing to host open houses at all. However, you want to find an agent who is willing to do whatever it takes to find the right buyer for your home.

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There are several common mistakes many first-time home buyers often make. Here are 4 of the most common real estate pitfalls you may encounter, plus tips on how to avoid them.

1. Lack of Research

Buying a piece of real estate is a big investment, so you’ll want to make sure you do your homework first. Therefore, be sure to ask questions, review disclosures, get a home inspection and check online for recent transactions in your target neighborhood.  A few questions you might want to ask include:

a. Why is the property for sale?
b. Does the property have any significant structural problems that need to be addressed?
c. Are there any existing liens against the property?
d. Are there any proposed changes to the surrounding area or neighborhood?
e. Is the house located in a flood zone or other potential problem area?

2. Not Factoring in Maintenance Costs

Many home buyers make the mistake of over-estimating how much they can actually afford to pay for a property. This happens because they only factor in the purchase price and neglect the other costs associated with improving and maintaining a home or rental property. So don’t forget to budget for monthly utilities, property taxes, insurance, unexpected repairs and ongoing maintenance costs before deciding how much house you can comfortably afford.

3. Becoming Overly Picky

There is nothing wrong with holding out for the house of your dreams.  However, don’t become so focused on finding the “perfect” house that you miss out on the great buy right in front of you. Instead, make a list of all the features you want in your new home and then determine which of those are absolute “must have” items and which ones might not be as important when all is said and done. Also, be realistic in terms of what you expect to find in your targeted price range.

4. Passing on Professional Help

Of course, there is nothing wrong with buying real estate without the help of a real estate agent.  However, you will probably spend a lot more time and energy if you try to do it on your own. Real estate agents have the resources, contacts and tools that can make your search go a lot faster. A good home inspector and insurance agents are also great professional resources to have on your side before you purchase a property.

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This guest post is by Neil R Williams. Neil is a financial consultant by profession and a finance niche writer. He consults with clients to pay off debt and repair their credit.

He writes articles on many financial issues and problems, including debt settlement, debt consolidation, refinancing and reverse mortgages. He has been published on many financial sites and blogs.

Unfortunately, credit card debt is a way of life for many. Too often, people buy things they couldn’t otherwise afford with the help of credit cards. The problem arises when consumers become overburdened with their credit card debts and they fail to pay their outstanding balance on time. Often, they look to credit card consolidation to consolidate their debts and repay their debts more easily. The most common method of consolidating credit card debts is the balance transfer method. This way you can save a lot of money but there are some fine print traps.

Here are 4 smart tips to save money on credit card consolidation:

1. Fees on balance transfer: There are some credit card issuers who charge balance transfer fees on credit cards. The fee may be as high as 4 percent of the outstanding balance. This means the higher the balance you transfer, the higher the transfer fee will be. Beware of such extra fees on credit card consolidation through balance transfer method.
2. Teaser rate: Teaser rate is the interest rate offered during the introductory period. Make sure before opting for balance transfer, what your annual percentage rate will be after the introductory period expires. It is best to pay down the transferred balance before the teaser rate expires. Or else you may be subject to high interest rate where you will find it difficult to pay off your debt.
3. Check carefully: Your new credit card company may tell you that your balance is transferred. But it is your duty to recheck whether the balance has been actually transferred. Check with the old credit card company and ask them to give you a billing statement with a zero balance written on it.
4. Cancel old cards: There are plenty of people who have a habit of opening new credit lines. You should know that opening new credit accounts increases the risk of drowning in debt. Too many credit card accounts and outstanding debts lower the chance of your qualifying for a mortgage or a car loan. Most lenders view open credit lines as potential outstanding debt. So to save money, cancel old cards and close those accounts.

Credit card consolidation is the most common way to eliminate credit card debts. But it depends upon you on how much you can save while consolidating your credit card debts. These smart tips will help you to save those extra dollars on debt consolidation.

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