DIY Archives - Page 2 of 6

How to Get Help With Food and Housing

Posted on June 18, 2020 Written by FinancialWriter

It can be hard to ask for help if you’re struggling financially, and the government doesn’t make it any easier. Government programs can be confusing to apply for, and many programs have time limits or requirements for continued eligibility. Don’t let fear stop you from getting the help you need. Learn how to get help with food and housing so that you can get back on your feet.

How to Get Help With Food and Housing – SNAP Program

The food stamp program, or SNAP, allows people who are in need to get a monthly supplement from the government to help them buy food. The SNAP program isn’t meant to pay for all of your food for the month, but only to help you.

Although SNAP is a federal program, it is administered by each state, and state rules vary regarding eligibility and how much you are entitled to. In general, SNAP is based on how many people are in your household and on the household’s total income. For this purpose, a household is defined as all adults who live together and purchase or prepare food together as well as all dependent children in the household. You do not have to be related to all the members of your household–friends, significant others and roommates can be included on your SNAP application.

All eligible members of a household are included on one application, and the applicant must provide Social Security numbers for them. After filling out the application, the applicant must attend an interview in which he or she shows proof of the household’s total income and expenses. The household’s income must fall below the SNAP program’s guidelines–usually households must make no more than 120 to 150 percent of the federal poverty guidelines for the area. Most states limit SNAP eligibility to three months out of every 36 months unless applicants can show proof of employment.

The Section 8 program helps low-income families with housing. Like SNAP, this is a federal program that is administered on the state level. Every state has one or more Public Housing Authority that helps people find low-income housing. The Section 8 program subsidizes rent so that participants pay only a portion of their own rent.

Qualifying for Section 8 is similar to qualifying for SNAP. Once you fill out an application and attend your interview, your PHA representative will put your family on a waiting list. It usually takes 6 to 12 months to get to the top of the list and receive assistance with housing.

Once you reach the top of the waiting list, your PHA representative will contact you. It is your responsibility to find appropriate housing within 120 days; however, your PHA should have a list of apartments and houses whose landlords have already agreed to participate in the Section 8 program. Make appointments to see apartments just like you would if you were paying your rent yourself.

Notify your PHA representative if you find an apartment you are interested in, as your PHA must inspect and approve the apartment. Apartments must be up to code and must contain enough bedrooms. Children over the age of 7 cannot be required to share bedrooms with opposite gender siblings in Section 8 housing.

After your PHA representative approves the apartment, you apply for it the same way you would any other apartment. You cannot be denied simply because you are on Section 8, although your landlord can deny your application for other reasons, as long as they are not illegal. Once you are approved for an apartment, your PHA will pay a portion of your rent each month. You are responsible for your part of the rent and for complying with all lease terms.

Although it can be scary and embarrassing to apply for government benefits, it doesn’t have to be difficult. Once you understand how to get help with food and housing, you should do so if you qualify. Getting government assistance can ease your financial burden so you can get back on your feet.

How to Evaluate Banks Before Opening a Bank Account

Posted on June 17, 2020 Written by FinancialWriter

It’s important to opening a bank account as part of your personal finance plan. You need a safe place to house your money; in addition, having checking and savings accounts is good for your credit. All banks are not created alike, however, and you should do some comparison shopping before deciding where to opening a bank account.

Choosing and Opening a Bank Account

Look carefully at the terms of free checking and savings accounts. Some banks charge a monthly fee for your accounts if you go below a certain balance, while others do not. Compare the account terms from at least three different banks before you decide where to opening a bank account. Then check your budget carefully to determine whether you can afford to keep the minimum balance in your account that each bank requires. If a bank requires a minimum balance of $1,000, for example, ask yourself if it’s reasonable to expect to have that kind of balance in the account at all times. If you go under, a $5 fee might not seem so unreasonable, but if you have to pay it every month, it adds up.

You should also find out some information about ATMs. ATMs are more convenient than using the bank, and many bank customers use them exclusively so that they can get cash when the bank is closed or deposit checks without going inside the bank. However, if a bank you’re considering only has a few ATMs in your general area, you may not find it very convenient to use them. In addition, some banks charge high fees if you use an ATM not associated with their bank. Make sure you know what these fees are upfront so that you can make an informed decision about whether this bank is right for you.

You should also find out the bank’s policy towards debit card use. It can be even more convenient to use a debit card than to use an ATM, and sometimes you can get cash back at the cash register when you use a debit card. However, some banks charge fees if you use debit or if you use your card for a purchase of less than a certain amount, and these hidden fees can take a large chunk out of your account balance. Think twice about signing up with a bank that charges fees for debit card use, especially if you use debit a lot.

If you can, sign up with a bank that has a rewards program. Some banks offer cash back for using your debit card; this puts a few extra dollars into your account around the beginning of each month. A rewards program doesn’t make up for fees for using debit or other fees your bank may charge, but if you can get a rewards card from a bank that doesn’t charge many fees, you may be able to improve your financial position just by using your card.

As you can see, there’s a lot more to choosing a bank than you might have thought. You need to get as much information as possible before opening a bank account so that you can open the account that is right for your financial situation.

How to Cut Expenses When You’ve Already Cut Down to The Basics

Posted on June 8, 2020 Written by FinancialWriter

Whether money is tight because you’ve lost your job or you just don’t have enough to cover all your cut expenses, you probably could benefit from some advice about how to save money. In addition to traditional ways of saving, there are all sorts of hidden places to cut corners. The tips in this article will give you a good starting place for saving money and improving your financial situation.

Ways To Cut Expenses & Save Money

One of the biggest drains on most people’s money is food. Since food is a necessity, you can’t really avoid spending money on it. However, if you change some of your habits, you can save more on food than you might expect.

Most people go to the grocery store when they need food for that evening or, at least, within the next few days. However, you should start thinking more long-term. Stores often put meat on sale when it nears its expiration date, for example. Instead of eschewing these sales because you don’t plan to cook the meat for a while, you should stock up. You can freeze meat for up to six months without risking contamination. Thus, it might be better to buy 8 to 10 packages of meat on sale than to wait until you need the meat to buy it.

Conversely, you could consider giving up meat altogether during lean times. In most areas of the United States, tofu is far cheaper than meat. Learn how to cook tofu and make a variety of recipes with it. You’ll save about 60 percent on your grocery bill if you switch to a tofu-based diet.

In addition to saving on food, you probably need to save on non-necessary expenses. Entertainment expenses are often the first to go when there’s a money crunch; although you need to relax, you don’t need to spend money to do it, and sometimes the money isn’t available.

Rather than cutting books and movies out of your life altogether, consider using the public library more. You can borrow both books and movies for free as long as you bring them back by a specific date. Write the due dates on the calendar as soon as you get home from the library so that you remember to bring materials back on time; it’s counter-productive to try to save money on entertainment if you have to pay late fees.

Automobile expenses are another seemingly necessary and large expense. If you own a car, you have to pay registration, insurance and property taxes on it. You also have to pay for gas at least once a week and possibly more often. However, if you live in a city with good public transportation, you may be able to avoid the majority of these expenses. Sell your vehicle and take public transportation such as buses and subways. Although you have to pay to ride on these vehicles, you won’t be paying extra fees on top of the cost of transport, and public transportation often costs less per week than buying gas.

It may not be easy to cut expenses, especially when you’ve already done everything traditional financial management books suggest. However, if you use a little bit of creativity and foresight, you can find ways to cut expenses further and begin saving money.

Showing Your Children How To Be Financially Responsible

Posted on June 2, 2020 Written by FinancialWriter

How To Be Financially Responsible

Financial responsibility should be taught to children when they are young, so that as they get older, they have a much better sense of both the benefits and consequences of their financial decisions. This article provides some helpful tips for teaching your children how to be financially responsible in the future.

How To Be Financially Responsible – Financially Dependent

Giving kids an allowance can teach them the responsibility of earning money and budgeting their money. Make it known that they have to earn their allowance, and make sure you set defined rules. Do not give them too much money, as you want them to learn how to be financially responsible instead of financially dependent.

One good thing to do is to provide options for them to earn money. You can give them choices, or you can just tell them that they have to do a specific chore if they want to earn the money. This is a good way to help teach your children the value of a dollar.

You should teach your kids early about the importance of saving money. As you provide them an allowance, tell them that they should save or pay themselves first before anything else. Encourage them to set goals for their savings as well.

You can play games with your children that involve dealing with money. This helps them gain a better understanding of money and how it works in our society.

Help them to understand that most things cost money. Make them realize that you can’t just take anything that you want; instead, you have to earn what you want and pay the proper amount of money for it.

Tell your children that charity and giving are a necessary and a rewarding part of life. Tell them that helping others is one of the best things that you can do. If they are that way toward others, then other people are more likely to be that way toward them as well.

You need to teach your children banking basics. They need to know how to track balances and how to keep a basic register. They need to learn about deposits, withdrawals, and interest. Make sure they know what they need to know as they begin by using their first bank account.

If you take them grocery shopping with you, your children can learn a whole lot about how much things cost. Constantly checking prices and discussing what items cost can really add a sense of financial reality to your little one’s world.

You should definitely teach them how to keep their money safe and how to be the best steward of their money. Talk to them about banks, and teach them how they should keep track of their money.

If you teach your children about money and personal finance when they are young, they will grow up to become responsible young adults with less financial problems than others. It makes a huge difference. Remember the tips and advice in this article, and utilize it as you teach your kids about money and finances.

How to Manage Your Real Estate Finances

Posted on May 29, 2020 Written by FinancialWriter

You can make money through buying and reselling, flipping, or maximizing your investment in the real estate market. Although the initial investment is high, you can get your investment back tenfold if you follow this article’s very simple real estate finances tips.

Real Estate Investment Advice

Understand the market you are entering. It is a very volatile one, that often changes and has its highs and lows. You should not consider entering when the pries are high and there are few buyers in your area. Alternatively, if prices are low and buyers are few, you should consider entering the market. You can always rent your properties, should they not sell very quickly.

Real Estate Inspection

To help save money you should consider hiring your own real estate agent and inspector. Find someone you enjoy being around, that will charge you the right rate, and still does quality work. This may take a considerable amount of trial and error on your part, but the experience will be worthwhile once you have found someone you trust. Consider using online recommendations, or the experiences of friends, to help you decide.

Know what season to sell in. If you have beachfront property, consider selling when tourism is high, and the area is most attractive. If you have property near a university and plan to rent out your building or sell for it to be rented, consider selling during the school year, when many nearby apartments will be selling their spaces.

Use home improvement to your advantage, by increasing the value of the home you buy. Consider taking classes in different areas of home improvement, to remodel and redesign your property, making it have more curb appeal.

Find out everything you can about the area your property is located in before buying your property. Use the ‘broken window’ theory. The attractiveness of an area is decreased per every broken window in a neighborhood. Take the quality and price range of other homes nearby to determine if your investment is worth it. Also consider the area schools, businesses, and workplaces, to be sure your potential buyers will have incentive to live there.

Be wary of natural-disaster prone areas like the gulf coast, tornado alley, along fault lines, et cetera. These may be difficult areas to sell in, particularly immediately following a natural disaster.

Be aware of sex offenders in your area. Consider this from a buyer’s perspective, especially if they have young children.

Cater to potential buyer’s desires. If someone is serious about buying your property, make accommodations for them which may include painting, or altering landscaping, interior design items, or lighting.

Knowing how to buy and sell properties can be very useful if you want to earn a considerable profit. Flipping houses can be a great addition to your personal finances. The tips listed in this article are a great start to a career in home improvement– but do not limit yourself. The world of real estate is a broad one, and you can benefit immensely through creativity, perseverance, and ingenuity.

How To Manage Your Finances to Prepare For Holiday Expenses

Posted on May 28, 2020 Written by FinancialWriter

Everyone looks forward to holidays like Hanukkah and Christmas because these are times when family and friends get together to celebrate. However, for many people, these can be stressful times because they often do not have enough money to spend on their loved ones. Although money should not be the main focus during these times, doing something special for loved ones can mean a lot. Here are some suggestions on how you can save up for the holiday expenses.So what are some simple ways you can deal with the holiday expenses?

How to Reduce Holiday Expenses and Save Money

To give yourself enough to save for holiday gifts, start saving early. You can set aside as little as $10 to $20 dollars a week. The early you start, the easier it gets because you would not have to save as much per week. You will be surprised at how much money you can save up by Christmas. Open a separate savings account for your holiday funds, and watch the balance slowly go up.

You should not wait until December to do your Christmas shopping. Merchants know that December is a huge month for shopping, and they have less incentive to mark down anything significantly. In fact, you should do your shopping earlier in the year. Retailers often have a schedule of marking down certain types of items. September or October is a great time to start buying winter items at a discount.

Department stores offer the least competitive prices in their merchandise. You can often find products of comparable quality or better in mass merchants. If you really want the designer brands, you can shop for those in factory outlets that offer good discounts off the retail prices. Online retailers are also competitive in their pricing, and their prices are often lower than traditional department stores. If you do shop online, however, make sure you take the shipping cost into consideration. Warehouse clubs are another place where good quality merchandise can be purchased at a discount.

Avoid shopping for everything during the same shopping trip. There may be sales opportunities offered on other days or at other stores. Spacing out your shopping spree will also give you a chance to review your purchases to make sure that you have made the best choices.

Look out for major sales that often anchor around holidays like Labor Day and Independence Day. Also look out for end-of-season clearances. Retailers often mark down merchandise significantly during these sales. Take advantage of these sales, and do your Christmas shopping early.

The day after Christmas is a great day for retailers to mark down merchandise. Look out for major after-Christmas sales, and plan ahead to shop for holiday gifts for next year. This is also a wonderful chance to get Christmas decorations at deep discount.

Not having enough to use for the holidays is a major stress for many people. If you follow the advice in this article and plan early for it, you will find that you will have enough money to use for the holiday expenses , and you will avoid this financial stress. This will make your holiday expenses much more enjoyable.

How to Make Improvements On Your Personal Finance

Posted on May 21, 2020 Written by FinancialWriter

A lot of people will tell you that their personal finance need to improve. However, they may not know how to approach it. Good personal financial management is more that just earning money and spending it. There has to be some planning for the future. If you want some advice on what you can do to improve the look of your financial future, read the information in this article.

How to Improve Personal Finance

Personal debt is the number one problem in any poor personal finance scenario. Most of the time, debt came from overspending on things that one could not afford. People rely on their credit cards and charge things without thinking that they need money to pay off that big credit card balance at the end of the month. If you want to fix the biggest damage, you should pay off your debt as soon as possible. Credit cards and store cards are notorious for their exorbitant interest rates. When you are late in payment, or if you miss a payment, a huge fee is tacked onto the principal balance. If you just pay the minimum amount every month, the balance will just grow bigger and bigger as the penalty fees accumulate. The smarter thing to do is to pay off as much as you can, as soon as you can.

You should set up bank accounts for different types of need. For instance, have one account for savings, one for a vacation fund, one for gifts, and one for daily expenses. Set a goal for each account, and deposit money in there as appropriate. Make a point not to take money out of one account and transfer to another because that would defeat the purpose of separate accounts. The main idea is to stick to your budget in these areas.

One account should be for your emergency fund. This fund should have around three to six months worth of your monthly salary. You never know when you may get laid off or end up in the hospital. When you do not have an income coming in, your emergency fund is what will keep you out of debt.

Not all checking accounts are created equal. Fees vary from bank to bank. Before you open a checking account with any bank, check their fees thoroughly. If you have questions, ask for an explanation. You would not want to be surprised by any hidden fees. You may think that because fees usually consist of only a few dollars, then it would not be worth your time to ask about them. However, these dollars can add up if you write a lot checks or use the ATM a lot. So, go with the checking account that has the lowest fees.

The more you know about personal finance, the better. Grab a personal finance book from the local library, start reading finance web sites and subscribe to a few free podcasts. As I said previously, knowledge is power and if you are constantly expanding your personal finance knowledge, you will continue to have more control over your finances.

Priorities for Your Personal Finance

Do not make your financial goals complex.. If they are too complicated, that may cause you extra work to implement them.

These are just a few tips on how to brighten your financial future. Debt management is crucial. Make sure that is a priority in your personal finance plan.

How To Decrease The Amount You Spend On Food Each Month

Posted on May 15, 2020 Written by FinancialWriter

With the economy continuing to fluctuate and level off on the negative side, many families are seeking ways to save money. Any family spend on food is essential. While it would be impossible to eliminate to spend on food from a family’s budget all together, there are ways to reduce it. This article will explore a few of them.

How Much Should You Spend On Food Per Month?

Coupon shopping is a great way to save on groceries. There are many options available for finding coupons, from the traditional method of clipping them from the Sunday paper to more modern methods of finding them on websites and receiving them by email. Individuals who use coupons for the things they normally buy can save hundreds or thousands of dollars a year. Simply storing coupons in a binder when they are found and using them on every shopping trip is a great way to decrease spend on food while still eating well.

Another great way to save on groceries is to shop at a warehouse stores. Warehouse stores are increasing in popularity during this financially difficult time and for good reason. At a warehouse store, a family can stock up on the items they use regularly and save money over buying smaller portions of those same items. Families find savings by purchasing their meat in bulk and freezing it, buying larger portions of produce items that they go through quickly and buying mass quantities of drinks, frozen food items and toiletry essentials. A warehouse store typically charges for membership, but the cost can easily be recouped when the savings add up. In every month the amount spend on food is must for every family.

When buying items at a warehouse store, it is often necessary to freeze them. While some freezer space is available in the typical kitchen refrigerator, it is often not enough room to really stock up. This is where a freezer comes in. A good size chest freezer costs a couple of hundred dollars, but it provides a family with additional space so they can really stock up on meats and produce items. Purchasing one is an up front investment that can lead to big savings with the ability to buy larger quantities at a discounted price.

Another great option for saving on food is purchasing from a local farm or farmers market. When farmers sell their produce, meats, eggs and milk products locally, they can do so at a lower price because there is no need to charge fees for transportation or consider the cost of a middle man. In addition, the items are usually fresher than those found on a grocery store shelf, meaning they will last longer, and more food can be consumed instead of being thrown away when it goes bad too soon. Some farms even offer a cooperative option, meaning a family pays a small price for the produce they receive and also offers to work a certain number of hours on the farm to offset the cost of growing that food. This way to save money by spend on food.

Saving money on groceries is beneficial for any family living on a tight budget. Keeping these tips in mind can help a family to purchase the food they need for a reduced price, making it easier to afford all the things they need in their day to day lives.

How to Stay in Control of Your Personal Finances

Posted on May 15, 2020 Written by FinancialWriter

If you are not earning a lot of money or find yourself in debt, you need to take action to stay in control of your finances. Read this article for some helpful tips to save money and control of your personal finances .

Tips to Save Money and Control of your Personal Finances

Living on a budget is the best way to control of your personal finances. You should take the time to do the math and figure out how much money you can afford to spend every month. Estimate your monthly income and expenses and make sure you are not spending more than what you earn. Certain expenses cannot be avoided, such as your electricity bill, car payments or mortgage. You should be able to reduce other expenses, including the money you spent on groceries, clothing, gas and entertainment. Start keeping a journal of your daily expenses to keep track of the money you spend and find out which habits you cannot afford. You might find that smoking is costing you a fortune or that you cannot afford to keep driving your car everywhere.

If you are in debt, get in touch with your creditors to establish payment plans. Explain that you are in a bad financial situation and that you intend on paying back your debt. Most creditors will be willing to drop late fees and work on establishing a payment plan for you. Once you agree to a plan, you should make your payments on time. Include these payments into your budget. You might have to make a few changes to your lifestyle to get out of debt; stop using your credit cards and cancel the lease on your car if this vehicle is above your means.

Put some money aside if you can. Ideally, you should be saving 25 percent of your paycheck every month. Open a savings account to get started and diversify your investments. You could invest in real estate, stocks, bonds, foreign currencies, a life insurance policy and even a retirement plan. Do additional research about different investment opportunities and get advice from professionals if you need to. Look for safe investments that will pay out in the long term and think about taking risks once you can afford to. Look at putting this money aside as a way of financing some future projects such as buying a house or retiring.

If you cannot afford to put a lot of money aside, you should still do your best to save some money for emergencies. If you do not have a little cash put aside for unexpected expenses, you will probably find yourself borrowing money, raising the limit on your credit cards or getting a payday loan; these are bad financial decisions and will more than likely worsen your debt. Even if putting some money aside requires some sacrifices, it is in your best interest to do so.

Use these tips to remain in control of your personal finances. Keeping track of your spending might be hard at first, but it will soon turn into a habit.

How To Stretch Your Grocery Shopping Dollars

Posted on May 1, 2020 Written by FinancialWriter

When you work hard for your money, you want to get most bang for your buck. Some areas of life don’t offer any money saving opportunities, but grocery shopping is one area where you can really save a lot of money and make up for the areas where you are unable to save. The following article contains useful tips you should use to reduce your money in grocery shopping at the store.

Ways to Save Money In The Grocery Shopping

Use coupons. This is one of the easiest ways to save money in the grocery shopping. Just be sure you use coupons on items you actually use. You can waste a lot of money using a coupon on an item you may or may not use, buying it just because you have a coupon. To get the most out of your coupons, pair the coupons you have with items that are on sale. To take this one step further, buy several of the same sale item with your coupons. You can only use one coupon per item, or as stated on the coupon. So, instead of just buying one newspaper each week, buy four or more. When you do this, you can get several coupon inserts and buy plenty of the items you need when they are on sale. Put them in your freezer or pantry and you will have more than one. The next time you need a jar of peanut butter, for instance, you can get it from your pantry instead of paying full price for it at the grocery store.

If you do not have coupons for an item, buy the generic. Many times the generic items are just as good, or better, than the name brand items. Also, a lot of stores offer you a money back guarantee on their store brand items, so you really have nothing to lose. Don’t shy away from generic items because they are cheaper or their label isn’t as pretty. Give different generic items a chance; you may find a new favorite brand.

Save Money on Groceries – Grocery Shopping Tips

Buy grocery items in bulk. If you belong to a store that offers bulk items, you can save a lot of money. Many times you have to pay a yearly membership fee, but it usually pays for itself after a visit or two. When you buy stuff in bulk, make sure to compare the prices against buying it in a smaller package to ensure you are getting the best deal.

When it comes to items that are on sale, only buy the items that your family normally eats or has been wanting to try. By purchasing an item on sale because you like the price, you aren’t really saving any money, you are actually spending more money than you should. Grocery stores have a good way of luring their customers in with sales and specials, but you can avoid them by being a smart grocery shopping.

You can save a lot of money by smart grocery shopping. Use the tips shared in this article and you can watch your grocery savings grow.