emergencies and other financial goals?  Here are 10 tips to cut your spending and stretch your money to the max:

1.  Consider dropping your home telephone line. Your cell phone is probably all you really need, and most likely it has free long distance.  You could save $30 or more per month by dropping your “land line”.

2.  Cut the trips to Starbucks or other premium coffee shops. Often called the “latte factor”, spending several dollars per day on luxuries like premium coffee can really add up.  For example, if you spend $4 for a cappuccino five times a week for 50 weeks out of the year (you’re on vacation the other two weeks), you would spend $1,000 in a year.  Try treating your trip to Starbucks as a treat instead of a habit.  You’ll save money and probably lose weight too!

3.  Pay your mortgage payment bi-weekly instead of monthly. You’ll pay less interest and pay off your mortgage faster.

4.  Carry cash instead of credit cards. Psychologically it’s harder to spend cash than it is to use the credit card.  You’ll spend less and save on interest charges.

5.  Use the “envelope system” for groceries, dining out, entertainment, and other discretionary spending categories.  This will help you track how much you spend in these categories as well as prioritizing your spending.

6.  Raise the deductible on your homeowners and auto insurance policies. It’s not wise to file claims for small losses anyway (insurance companies love to raise rates after you file a claim), so a higher deductible will save you money now and in the future.

7.  Buy regular gas instead of premium. Most cars don’t need premium gasoline.  Also, take public transportation if it’s available in your area.  Take advantage of “park and ride” and carpooling options.

8.  Plan what you want to b uy. Take a list with you to the grocery store and stick with it.  Studies show that impulse buying can add $10-50 to your grocery bill – ouch!

9.  Go to the library instead of the bookstore. If you’re an avid reader, give yourself a book budget for books that you will want to keep, and go to the library for everything else.

10.  Vacation at home. Check out all the local sites and happenings.  You’ll rediscover your hometown and save on travel and hotel costs.

These are just a handful of ways you can cut spending and stretch your dollars, but if you follow these tips you’ll discover you have more money at the end of each month to apply to other financial goals, such as saving for college, retirement or just for a rainy day.

In his newspaper article, Simon Bain of the Herald tells of how one particular bank has been sending credit card applications to people with offers of a credit card with APR of up to 69% (http://www.theherald.co.uk/business/52784.html). This astounding rate applies with a credit limit of £150, while an APR of 41% applies to a credit limit of £1500.

Quick additional sums of money may seem very tempting to people at this time of year, and without consideration a lot of people will be more than tempted. But it’s not until later that the repercussions of such a high interest hit home. This can lead to difficulties in February, which spill over into March …and so on, until before you know it it’s Christmas again and you have serious problems.

So before you go looking for short-term solutions that could lead to long-term problems, take some time to consider your options so that you can decide what kind of year you’re going to have.

There are many cheap and easy ways to get credit card advice this New Year. The best way is just to log on to the web. There are many sites out there dedicated to offering financial advice. One of these sites is http://Moneynet.co.uk. Here you can check out all of your options. There is a great page dedicated solely to providing credit card advice ( http://www.moneynet.co.uk/credit-card-guide/index.shtml ) as well as many pages advising the card with best introductory rate, the best standard rate etc.

So, before you go down the wrong road, check out what your options are this January, and make sure you truly do have a happy New Year.

Like most of Americans, you may stretch your income to cover the regular monthly expenses, and always choose to ignore or not to think about the brakes that are getting spongy or the plumbing that's beginning to make strange noises. And you end up a surge on your monthly expenses when the brakes wear off and the plumbing break out.

Planning and saving for those events can help prevent an ordinary life from turning into a crisis and can also cut down dependence on credit cards. Not having savings is a major reason people get into debt.

Here are some steps to help you get started to plan for your emergency fund, the "Saving" fund which will help you prevent financial disaster.

1. Identify your irregular expenses

Analyze your pass credit card statement and checking account registers to identify your irregular expenses occur throughout the year. Examples of these irregular expenses are property taxes, insurance premiums, vacations, car tune-ups, holidays and birthdays. List down in a piece of paper all the expenses which are not spent in monthly basis.

2. Write the anticipated amount on the calendar

In most of cases such as insurance premium and property taxes, you will know when the expenses are due to occur. And for those unknown cases such as car repair and plumping repair cost, try to anticipate their expenses and list them somewhat earlier than you actually expect them to come up. Be sure to update your calendar as you discover more expenses.

3. Plan-in the non-monthly expenses into your monthly spending

Based on the foreseen amount and anticipated amount that are captured on your calendar, plan ahead your non-monthly expenses into your monthly spending. For example, you know that your car insurance is going to due on May, set aside small amount of your money for this purpose starting on February. And when May rolls around you can transfer the expense to your spending plan and have money available to pay it. Setting aside even a few dollars each month for foreseeable expenses can prevent larger money woes ahead.

Sometimes, you may find it hard to set aside some extra money from your monthly income; but remember, repairing your car or paying your insurance is not optional expenses and you need to spend it soon or later. So you need to find a way to reduce your monthly expenses so that some money can set aside for emergency fund. You may need to track your spending; then, reduce or cut the optional expenses such as entertainment, dinner at restaurant and other impulse purchase, the money save from those optional expense can be put into your emergency fund.

In Summary

One of the mistakes people make when trying to get their finances under control is not having an emergency fund on their savings account. The problem is that if you don't have money set aside for those unavoidable bills, you inevitably end up adding to your credit card balance to cover the difference.

The bottom line is to start today. It may be discouraging at first if you find that you don't have enough money to fully fund your emergency fund, but you'll begin to succeed the minute you start the process.

The first thing you have to understand is that the reason why you are in debt is because there is more money going out rather than going in. Chances are, you spent more than what you actually have in the bank because you thought that you could pay for it on a staggered basis not knowing that the amount of money you still owe goes up because of interests.

Now that you do know that, the objective now is to pay off the debt and the only way to do that is to make some budget cuts so whatever you money you have can be used to pay off the debt.

To do that, you have to look at your bills so you know exactly how much money you have and where it is actually going.

Based on the bills, you can tell how often you do your groceries, how often you fill up the car with gas and how often you eat out.

In order to save money on groceries, the best way is to buy less and only the essentials each time you go shopping. If there is one item there that is too pricey, try a cheaper brand that can also give you the same satisfaction like the one you usually purchase.

To save on gas, the best thing to do will be to carpool several days in a week. If you work from the home, make sure that you when you go out, you are able to do all your errands in one trip. Should there be any excess baggage in the car, remove it because the added weight makes your vehicle consume more gas.

Some of the clothes we wear can last a few years before it has to be replaced. A good example is a pair of jeans. For other clothes that will wear out much faster, try buying a similar item from a thrift shop or a smaller store. This is because no one will care where you bought the outfit and what matters is how you are able to carry it when you decide to put it on and go out.

But if you really want that item, maybe you should wait until the store decides to have a promo on that item or decides to go on sale. In the recession, a lot of retailers are slashing prices and coming up with various gimmicks just to stay afloat so there is a big chance that you can get this off at a much cheaper price.

So in this article we will try to look at and refine a detail the factors that make the financial situation not in order. But sometimes there are messy things that we should know. After that we might understand it and  try to avoid it. There are many other causes out there, but we are a bit of limited space to address all of them.

No planning

Have you ever arrived at a destination of all sudden? Without knowledge and without your previous plan? Unless you are kidnapped, you should have early plan for it.

Despite only to go shopping or washing cars. You have to think and then move to the destination. How if you never plan you financial? It will be a disaster. To plan your financial journey is to carry out the efforts and determine the final destination.

What is the purpose of financial planning? The aim is to make sure you and your family can live happy without any problems cuff as money or crushed ruins of large debt. Improper use of funds can result in personal economic crisis that will hit your live.

No financial goals

Goals related to ambition. Goals also influence the results. Goals high, even higher results. Some goals, the result would have been small. If you do not have financial goals, I fear nothing will end up happy. I hope it does not happen. What do you want to target? You decide on your convenience. For example, live without any debt by 35 years of age or have the money of half a million in within five years.

Do not want to learn

Sometime you wish to be like this and that, but you do not want to learn how to make it a reality. Do not want to read the book, articles, audio or multimedia materials. Lazy learning. They also
do not want to pay the fee seminars, lectures, discussion, forum and like it. They only want free materials only. Certainly it is not wrong. Quality is often only just available cost. Materials generally free to (But not all) just let things simple and less valuable. Most of you already, and I know first.

Do not want to learn from mistakes

They remember failure is a negative thing and should be forgotten. If they forget the offense, they would at other times will do it again! Because they forget to factor the cause. Have you ever studied or to learn why your money is often not enough? If yes, why you do the same thing again and again ..?

These are three benefits from structured settlements

1. Safer option: It is good to receive a specific amount on a regular basis for a period of years to cover the expenses in the future.
2. Income flexibility: If you receive lump sum amount, do you think you will not spend more every month? Smaller amount of payment in monthly basis definitely will control the way we spend. Furthermore, lump sum settlement will be taxed! So, receive the small amount and it will help to cover the rest of your life.
3. No court supervision: Structured settlement does not require court supervision and legal solution can be easily acquire. This is a cheaper option when you do not need to go to court.

Although structured settlements are designed to benefit those who receive it, if you might want to sell it make sure you consider all your options carefully. To study and to do some basic research is important things to do.

1. Check expenditure records for the period of 12 months.

See what happens in a year. So look all expenses,  bank statement, credit card statements or whatever records you have. If you use cash, copy all your expenses in the notebook. Finally, you’ll find the smallest amount you spend.

2. Calculate your total expenses in the month.

Mixing all bills you should pay in a month.

3. Write a list of debts that you bear.

Do not forget to include house installment. Call the bank if you are not sure how much debt left. Make sure there is always updated records.

4. Create a list of minimum payments that you should do every month.

How much you afford to pay for each month? Go for it.

5. And look to the remaining months of your pay

Check out the remaining balance.

6. List your debt so that debt a little over once

Do not forget to list all your debts. For example:

1) Handphone $1000
2) Credit card $5, 000
3) Car $50, 000
4) Home $100, 000

7. Now you need to ‘attack’ to pay a small debt first.

Priority was to spend a small debt first. And finally a relatively large debt, such as cars or houses.

8. Be consistent

Refer number 4. Try to put additional payment let say 10%.

9. Pay extra, reduce spending

Pay extra $200 debt, reduce $200 from spending, and save to pay the debt. Think all the way to collect this $200. You need to discuss with family what you should and should not be purchased. For example if you are always eating out, trying to reduce. If you smoke, stop trying. If you do, definitely you find ways to save at least $200 a month.

10. Use the extra money to pay debts

If you pay $100 before, now you pay $300.($100 + $200). When out of debt first, use the add $300 for payment debt to both. If you previously paid $200 for the second debt, you pay $500 ($200 + $300) after the debt first out. It will impact maximum for your debts quickly. Continue adding until to list the last.

This way you will be free of debt within a few years. Advantages of this system start from $200 only that you save, and it increases as soon as you run out of debt first.

You use this technique and you really surprised with the result in a few years. And do not let your children suffer because forced to bear all the burden of debt you later.

Set your target

Develop your target or goal for the future. Whatever your vision and wish for your future, put it on paper. How much money do you want, how much money for your children plus what is your retirement plan. This is the first step and try to meeting your target.

Define your investment time horizon

Long term investment portfolio might be a very good option if you’re not planning on retiring anytime soon. Consider a more conservative approach if your retirement is just around the corner.

Determine your risk tolerance

Investment is a risky business so you need to figure out your risk comfort level and compare that with what you can afford. In general, the longer you have to invest, the bigger risk you can take.

Get consultation from a professional

In order to avoid financial pitfalls later on, it is often wise to seek professional advice when putting together a portfolio.

“Recent research shows that investors continue to grapple with some of the most basic investment concepts, suggesting a greater need for financial advice and guidance,” said Doug Lockwood, a certified financial planner.

To help investors meet their financial goals, American Century Investments has developed On Plan Investing, a program designed to help investors build and maintain diversified investment portfolios – at no additional cost.

Combining educational tools, advice, market insight and investment products, On Plan Investing helps investors develop a personal investment strategy, whether they are new to investing, seeking guidance but still want control over their investment mix, need help positioning their portfolios with a long-term perspective or need help understanding how the markets work.

Here’s a simple option you can use to get started.

You can begin by opening an educational savings account.  You can deposit up to $2000 annually per child into such an account.  This is a combined total, so any money from grandparents or other interested parties is placed in this account and cannot exceed $2000 a year.  The money is not pre-tax, but it can be withdrawn tax-free as long as it is spent on educational expenses.

Educational expenses are determined to be books, fees, supplies, tuition, room and board, and anything directly associated with your child’s education as long as he or she is at least a part time student.

If, for some reason, all of the funds in the account are not used, you can have the account pay out to the beneficiary up to age thirty.  Penalties and taxes will attach to this accommodation.  Your other alternative, should you not use up all the educational funds, is to roll over the account to the next child coming of college age.

If you begin this sort of plan upon the birth of your child, you should realize more than enough growth from your investment to put your child through school and tap out the rest of the fund as a fine graduation present.  While the money you deposit into this type of fund is not tax- deductible, its growth is.  As long as the funds are all used for educational expenses, none of the profit your account realizes through investment is taxable.  This is a nice way to prepare for your child’s future.

There are credit card programs that pay bonuses into children’s college funds as a promotion and often companies and corporations will make donations into an employee’s child’s fund as well.  Anything you can do to help your child’s education fund grow now will be a savings and security for the future.

To help you gainfully secure that future, you might want to talk to a financial planner about preparing the way for your child’s college education.  It is never too early to start saving for your child’s future

You can secure the future of your children by providing finances for their college education.  If you go on building educational savings account, that will be a nice gift to your child.  Here are some steps to build it systematically provided by Chintamani Abhyankar.

Content Source: Bukisa – Creating and Managing An Educational Savings Account