14 Easy Ways How to Cut Power Bill Expenses During the Winter

Winter house

The winter-time can be a very challenging time for most people.It’s cold.  It’s dark.  And it’s hard to travel.Unfortunately all of those things can make people want to stay indoors during that time.  And that can lead to a big increase in your energy bill.All of the sudden you’re dealing with drafty windows, more hot water treatment, and a whole more electricity usage than you ever would have during the Summer-time.Luckily there are lots of effective ways how to cut power bill costs that are easy to do.  All it just takes a little bit of planning and a few basic things to remember.  Helpful Ways How to Cut Power Bill Costs:Lower the thermostat.  Each degree that you turn down your thermostat will result in 5% … [Read more...]

A Sample Financial Plan – How Should You Budget Your Money?

Business Data Analyzing by adamr

It’s occurred to me on several occasions that not everyone reads money magazines or CNN Money as much as I do.  For some people knowing where to start is practically half the battle when it comes to getting a grip on your finances.What they need or would love to see is a sample financial plan that just gives them the hard numbers!  They need something that could use as an example for how you should be saving and spending your money.  That’s exactly what I wanted to do in this post.For one second, let’s put aside the whole, touchy-feely, fluffy notion that every plan is unique.  It is (don’t get me wrong)!  But there are some general figures that you could go by that may not be so bad.If anything, consider them a good starting … [Read more...]

Miles Credit Card Offers: Now Reap the Rewards When You Fly!

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If you travel frequently for business or pleasure, consider taking advantage of the several miles credit card offers that are out there for the taking.  Airlines, in partnership with a bank, offer these cards so that customers can earn rewards points as they make purchases with the card.These reward points can be spent on airline tickets, hotel stays, car rentals and more. Do airline miles credit card offers sound interesting to you? Here are some that may be a good match for the lifestyle you lead. They all offer reasonable APRs and annual fees while giving you the perks that make frequent travel a joy rather than a chore.  Delta SkyMiles: Delta has partnerships with American Express in order to provide its members with … [Read more...]

Tips for Getting by Without Borrowing Money

Walking On The Red Arrow Street

The following contribution is from a reader of My Money Design.  If you’d like to write for us, please feel free to contact me. Borrowing money is usually one of those things that sounds great at first, until the bills start coming in. If you take a look at just how much money you have to repay for the amount you borrowed, you will realise how much money you may have wasted on interest. If you would have planned ahead before borrowing money, you would now have more cash available to purchase other things you want.The problem is that debt often turns into a never-ending cycle of outstanding debt as you continue to accrue more and more interest. Many people may spend their entire lifetime trying to climb out from under their pile of … [Read more...]

What to Do If You Have Fallen Behind on Your Utility Bills

Water 3D

The following contribution is from a reader of My Money Design.  If you’d like to write for us, please feel free to contact me. If you have fallen behind on your utility bills and are worried that they may shut off your services, it is important not to panic. Even if you are a few months behind on your bill, there are still things you can do to prevent a loss in services. It is important, however, that you take the necessary steps as soon as possible and do not wait until it is too late. Below is a look at several steps you can take if you have fallen behind on any of your utility bills.   Contact the Utility Company The first step is to contact your utility company directly. You should ask to talk to the hardship department and … [Read more...]

Does a Motorcycle Save Money… Or Cost More?

Motorcycle

The following contribution is from a reader of My Money Design.  If you’d like to write for us, please feel free to contact me.Sometimes it's difficult to fully evaluate the financial risks involved in a decision. We like to take the first, or biggest, fact in our minds and transfer that to the entire decision-making process. "I can't be an entrepreneur -- it's too risky!" "I don't have enough money to invest in an IRA!" "I need to buy this high-end laptop -- it'll help me get more work done!" See how this type of thought process goes? We don't think things through; we go with our gut emotion and make a decision without fully evaluating all of the associated financial components. (This is true even for those of us who think we're … [Read more...]

Putting Your Hobbies on Hold

father and son golf

The following post is a guest contribution from Jefferson at See Debt Run.  If you would like to write for My Money Design, please feel free to contact me.People often ask us about the sacrifices that my family had to make when we were paying off over $20,000 in credit card debt. I usually respond by telling them about how we cancelled vacations, stopped eating out, and figured out ways to slash our utility bills.  We also found ourselves having to get creative to find ways to spend our free time that didn't involve spending any money.Even many of our traditional hobbies that we used to pour ourselves into in our free time were no longer an option for us. With so much of our cash flow tied up in your repayment efforts, there was … [Read more...]

You’re Going to Need A LOT More Emergency Cash – Bad Things Will Happen!

Money Into Car

If you’re one of these people who walk around in a cloud of optimism thinking that nothing bad will ever happen to them, and that a safety net of $1,000 or so should suffice, I’ve got some bad news for you…You’re going to need A LOT more emergency cash.   And I mean A LOT more than you think!Let me tell you what happened to us over the Christmas break.It’s a pretty funny story – funny for you to hear, but not funny to me at the time.All I can say is start saving!  You never know when something like this is going to happen.  But its inevitable that it will!Here’s my story…  What Happened? On the last day of work before our official Christmas break started, I drove my wife’s GMC and noticed some pretty weird … [Read more...]