Best Finance Network
Get the best connectivity about finance.

The tools of budgeting all come down to a basic process of keeping track of income and expenses in one location. This makes it possible to target areas of over-spending and arrange a projected budget that is both realistic and oriented towards saving. Just as the old days of using a hand-held calculator and accounting pad gave way to computerized spreadsheets and stand-alone programs, newer methods have been supplanted in recent years by internet-based programs.

Tweaking categories and establishing limits is still an individualized matter, but it is no longer necessary to transfer the numbers from each account into a centralized system. Online money management tools are capable of accessing accounts for which they are given your login information, but this feature is not a given due partly to security reasons.

Many programs are available, and choosing the best depends upon which you find most compatible with your financial needs. Since all these programs are free, advertising should not be a surprise. Some of the most popular tools for financial planning are:

Mint

Mint is the most versatile and user-friendly of the options available. Login information is easily entered for a fast and comprehensive accounting of everything from monthly spending patterns to total net worth. One of the more valuable features is its ability to gather as much information as is stored in the account. Investment accounts entered into the system will be tracked on a weekly basis.

The downside for some users will be the automated budgeting. Preset totals are attached to every category, and it will take some time to configure these for your individual needs. Until you do, expect to face reminders and overspending warnings regularly. Initial setup can take around an hour, and it will take more time to get the program matched up with your financial life.

Wesabe

This program offers some of the same features as Mint, such as the ability to pull data from multiple accounts and automatically compile net worth, liquid assets and debt. If you have been using Quicken, this is a good choice for now. Mint does not yet support importing from Quicken, but Wesabe does support this option. One feature Wesabe does boast is an active user forum.

Importing from Quicken is the only way to get around the need to manually categorize types of spending, which is one drawback. Another downside is that Wesabe does not function with some accounts, which means you are stuck without information or having to manually enter it.

Manual Upload

Many free programs are available for monitoring your finances on the go, and most of them require manual upload of information. Before thinking this is more trouble than it’s worth, consider some of the advantages of sites like BudgetPulse, moneyStrands, and Buddi.

Since there is no account information entered, there is no risk of your accounts being compromised by hacking of these third-party sites. They are also more functional due to simplicity. Manual uploading may seem like time travel to the past after experiencing Mint, but these alternatives often include community, small business, and other group tools.

It is worth the time to find a program that best fits your financial situation and personality. Budgeting is the first step to overcoming debt and planning for the future. The only thing you’ll lose from a poor choice is time.

Are you looking for ways to make your dollar go further? Staying on a budget can be difficult if you’re not sure where to start. Try following these 5 easy ways to help you manage or lower your expenses.

1) Buy generic brands

Grocery stores usually offer a store brand or a generic brand that costs less than name brands. Pharmacies also offer generic versions of most medications that tend to be far less expensive. It’s also important to avoid shopping on an empty stomach. If you do, anything and everything will look delicious. You’ll throw out that budget you had in mind along with your will power to resist that chocolate cake in the bakery. So, eat before you go to the grocery store and stick to your list!

2) Carpool

With rising gas prices, who wants to pay so much to drive to and from work every day? Find someone you work with who lives close enough to you that you can carpool. Carpooling will save you money on gas, allow you to use the HOV lane, and give you time to catch up on water cooler gossip before you get to the office. If you have no options for carpool buddies, you can use public transportation or even consider moving closer to work to shorten your commute.

3) Pay off credit cards

Pay off your credit card with the highest interest rate first. It is imperative that you make your payments on time. Late payments can lead to a nightmare of late fees, increased interest rates, and seeing that dreaded decrease in credit score. It is a good idea to make a separate calendar just for bills and their due dates to avoid missing payments. You will never have to incur late fees because you simply forgot to pay the bill.

4) Pay yourself first

A wise man (my dad) once told me that the most important bill to pay is – you. All you have to do is budget a certain amount of money from every paycheck and essentially “pay” yourself. This money should go into your savings account. You’re continually adding a fixed amount to your savings and growing your emergency fund a little at a time.

5) Take advantage of free offers

There are free and discounted offers all over the Internet, you just have to find them. For instance, if you type in “pizza hut promo code,” you’re likely to find a coupon for a few bucks off your pizza. You can also sign up for newsletters from your favorite online stores. You’ll get emailed frequently with discounted offers. There are also tons of online coupon sites. If you’ve ever seen the television show “Extreme Couponing” you know just how much coupons can save you. There you have it! Try these 5 simple ways to stretch your dollar. Remember, creating and managing a budget plays a crucial role in your financial health. Don’t let the process overwhelm you. Simply pick a place to start and go from there.

Saving for your retirement can seem like a daunting task for most folks today, but it is something that should be every working person’s goal and ultimate aspiration. Despite the seemingly impossible task of saving up for your own retirement, especially at the last moment, there are little ways that you can consider that can bring you closer to your goal of saving for retirement, without having to work like a mule. Here are a few tips on how to increase your retirement savings:

Downgrade – Simple living is best

Living on the edge of their means is one of the reasons why a lot of individuals find it difficult to save up for retirement. It is quite common now-a-days to find people that are living well beyond their means. People who are in a situation like this are wasting money that could potentially be saved and used for their retirement schemes. Contrary to what people say, living simply is not something to be ashamed about – so if you’re looking for a fast way to save more for your retirement, then consider downgrading your living expenses is one great way to go about it.

Invest

Try investing in businesses or other secure means, this can increase your overall income and is another great way to save up for retirement money quicker. Not all investments promise a good or profitable turn-over in the end, so choose businesses that you want to invest in wisely. Businesses that have a strong long term grow potential are good, so are businesses that cater to the masses have the best chances of providing you with a steady profit.

Pension offers are opportunities

If the company you’re working for offers retirement benefits or saving pools, consider chipping in a little of your income into it. A little goes a long way. Pensions and benefits are also a great means to help out with your retirement savings goals. Availing of healthcare and pensions can add to your savings by cutting down on the need to look for more money. Because these types of benefits can be earned while you’re still in working prime, you can be sure that you’ll have a substantial amount by the time you do decide to call it quits and put your feet up.

Prioritize

If you want to meet a specific amount of money to realize your retirement dreams, then you really have to prioritize for it. Coming up with a viable sum that is more than what you’d expect to spend for the duration of your retirement and beyond, should be the main outline of any savings schemes. It is wise to plan ahead in order to set priorities, but it is also important to set a goal beyond the expected amount that you think would need for a comfortable retirement.

Pooling all of the profits from the above mentioned tips should provide you with enough provender to retire in comfort or at least meet you basic needs, given that you don’t expect anything extremely extravagant or opulent. Investing and not spending beyond your means is the key to a successful savings and retirement plans.

Planning for a retirement needn’t be stressful or difficult. Everything can be planned out and achieved with good old fashioned hard work, determination, and foresight. Utilizing holistic tips like these as part of your overall retirement plan will definitely help to improve your financial situation now, and will also ensure that you will have more savings available for when you are finally ready to retire.

Going on a summer vacation is a tradition in America, but it seems that most tourist destinations use this fact as an excuse to hike up prices. Fortunately, there are ways to save money on travel during the summer and still have a great vacation.

Flying is practically essential if you plan on leaving your immediate area. If you need to save money air fare, try a few of these tips.

Flying Tips

1. Plan to fly on Tuesday, Wednesday, or Saturday. Since many business travelers try to avoid these days, airlines offer discounted travel on these days.

2. Be sure to start checking air fare prices early. If you aim to book your air fare thirty to ninety days from when you and your family want to fly, you’ll be in the zone to get the lowest prices. Historically, airlines offer higher fares in the time frame before ninety days out to leave room so that they can adjust for higher fuel costs if needed. Within thirty days of travel, demand for seats is higher, causing the airline to charge more.

3. Try to fly from a major hub. In general, major international hubs like Los Angeles and Chicago offer airfares that are usually cheaper than flying from your local airport.

4. Watch out for last minute deals. Last minute deals on airfare are offered by nearly all of the major carriers, and if you live near a major hub they could save you a lot of money. For example, airlines will typically sell their last seat or two on flights to other major hubs for a fairly significant discount.The airlines assume that they would rather make some money by selling the seat rather than let it go empty. These deals are usually only offered on one or two seats at a time, so you will have to keep your travel party small to take advantage of them.

5. Be willing to stay overnight at a strange airport. In order to completely fill their planes, airlines offer great deals on “split” or overnight flights. These flights will require you to take the very last flight at night to an airport, stay the night, then leave on the first flight of the morning.

Driving Tips

Depending on the car you drive (and the gas mileage), it might be a good idea to get a rental car. Make sure your car insurance covers car rentals before leaving the lot.

1. Use cell phone apps to find cheap gas. Gas stations that are located near the highway typically charge more than those located off the highway. Have kids figure out if driving a little further will be worth the savings.

2. Use cruise control. Most modern vehicles will be able to use fuel more efficiently in this mode. Also, setting the car speed to the speed limit will reduce your likelihood of getting a ticket.

3. Pack lightly. Every extra one hundred pounds of stuff in your car can reduce your fuel efficiency by as much as one percent. Try to avoid carrying a lot of extra gear.

Lodging can be a major expense on any vacation. Follow these tips to save on hotels.

Lodging Tips

1. Consider options outside of hotels. Staying with friends and camping out are two great ways to avoid having to pay for hotels. Many campsites today come with amenities such as swimming pools and upscale bathrooms, making camping fun for everyone in a family. Other options can include renting a house or condo. While not as cheap as camping, these kind of places can be much more affordable than renting multiple rooms when traveling with a large group.

2. Travel during the week. Weekend rates for hotels are usually the highest. Try to plan your travel during the week to get better rates.

3. Look for discount codes and coupons. Booking online can save money, especially if you have a coupon code for the hotel chain or the booking website. Just type in the hotel name and “coupons code” into a search engine to find discounts.

The summer is a great time to go on vacation, and many people still have memories of the great family trips they took as kids. Don’t be afraid to ask for discounts and look for deals at every place you plan to travel this summer.

Author Bio: Danielle Parker is a freelance writer and a very picky consumer. Whatever she purchases, she only wants the best. Even when purchasing car insurance, she is only interested in the top rated car insurance companies.

It seems that every time you go grocery shopping it is a little more expensive than the last time. Prices seem to be consistently creeping upwards by a few more cents all the time. Weather damaging the crops, animals falling ill, gas prices increasing – these and many more factors are such that their impact will be resilient enough to be felt at the grocery store as well. Instead of dreading shopping use these tips to help save money and keep your grocery bill in check –

Coupons

Coupons are a great way of saving money on groceries. There are some Sunday papers that still offer coupons to cut out. In order to get more of them do a quick search on the Internet and you will come across websites which will feature coupons. Some will need to be printed while in case of others you would simply need to load the coupon to your favorite grocery store card. Now if the coupon is used for an item that is on sale it can result in added savings. Some grocery stores double and even triple the value of a coupon up to at least a dollar.

Price Book

This is one of the easiest things to do and can take the form of a notebook or even an excel sheet. Since there are certain items like canned goods which are purchased every time, they could be written down per page or column if using a spreadsheet. List the stores that you shop at on the left and then list the normal price that is usually paid. This type of system makes it easier for tracking popular items and then comparing the sale ads to see if the best price can actually be picked up at.

Meals

Write down the meals that you would like to cook for the time in between your shopping. This makes it easier to look through the ads and see if the needed ingredients are available on sale anywhere. Planning meals helps to make the money last even longer when shopping for grocery.

Cook from Scratch

No matter how many members are in a household it always seems to be easier to come home and serve a packaged meal. This is nice but it does cost almost double than if you made it yourself. It is understandable that after a long day at work you are worn out and exhausted but it is equally important to realize that a crock pot on the counter is the perfect way to make your meals. Just put everything in it before getting ready for work and upon your arrival at night it is already cooked and ready to serve.

List

As you thumb through the ads and gather your coupons make a list while proceeding downwards. This helps you stick to buying only what is needed and hence ensures maintaining of the budget. Sometimes when walking through the store there will be items on sale that might seem tempting. However, before grabbing these it would be wise to think if the offer is a good one and if the items are truly needed at home.