Evan Vitale

Evan Vitale – Improve Your Budget This Year

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By Evan Vitale

Happy New Year!

Now, let’s really get down to work – starting today – in making 2017 a great year for you by taking the necessary steps in erasing (or significantly lowering) your debt and improving your budget.

The beginning of the year is a good time to take a look at your expenses and your debt and making some good decisions to start the year off fresh.

Ready? Here we go:

  • Take a look at where your budget is leaking money. Make there are some unpredictable expenses or, perhaps, you didn’t account for some extra income (which is always nice). Fine tune your budget to completely fill in the gaps so as to make your budget more accurate.
  • Analyze your spending and see if there is anything out of the normal. Check your budgeted categories and make sure that they are realistically reflecting your lifestyle. Make necessary adjustments.
  • Check to see if you are buying too many of one or two items. For example, how much money are you spending each year on those extra “lattes” every day at your local coffee shop or, perhaps, are you spending too much money (and too often) on music downloads; DVDs; books; movie tickets or eating out at lunch. Work hard on reducing these amounts.
  • Re-evaluate your overall plan so that you can have the funds needed in order to reduce your debt (such as credit card debt) or to start saving more.

By studying; analyzing and re-working your budget, you can make logical changes to reduce extra spending; plug holes in your budget for unexpected expenses and work harder in the upcoming new year to erase debt and build more wealth.

 

Evan Vitale – Resist Holiday Spending Bug

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Evan Vitale

November is here and, before you know it, you’ll be bombarded with holiday ads, commercials and new credit line offers so you’ll have more money to spend during the busy shopping season.

The temptation to spend – especially when creditors offer credit in front of your sparkling eyes – now is the time to stick to your budget; stick to the plan that you set nearly a year ago. Resist the urge to spend and resist the urge to sign up for a new line of credit.

You’ve come so far in creating and setting your budget, now is not the time to blow it. Yes, everyone will have a Merry Christmas, but you’ll regret the spending decisions you make now when the credit card bills come around in January (and, believe me, everyone regrets those big spending decisions when that fat bill – with high interest rates – arrives in the mail).

Suzy Orman calls it the “buy-it-now-bug” saying everyone catches the spending bug now and we start feeling the full effects in January. She advises:

  • Use only cash. Challenge yourself to not buy any gift with a credit card.
  • Go homemade. Whether it’s baked, knitted, scrap-booked or any other gift that you make yourself, it will feel more meaningful to the recipient and it will keep you away from the spending temptation.
  • Check your giving circle. Have a conversation with your family and friends about scaling back with your holiday giving. Who knows? They may have wanted to have the same conversation with you, so break the ice and have that discussion now.

An extra tip is to have a “secret Santa” drawing in your family. Instead of giving gifts to everyone, why not set a budget and everyone has a “secret Santa?” This way, the spending is kept to a minimum and everyone gets to enjoy a special gift.

Resist the urge. Follow the tips mentioned above and stay within your budget. You’ll be happier come January!

Evan Vitale – Save Money, Be Creative

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By Evan Vitale

The holidays will be upon us soon and, for many, the need for extra income becomes an extra financial burden when it comes to purchasing gifts for friends and family members.

Many stay within their means; abide by their budget and buy as their budget allows.

Therefore, our next two blogs offer some suggestions when it comes to gift-giving for the upcoming holidays:

  • Obtaining a part-time job for extra income (next week’s blog).
  • Being more creative with less expensive gifts.

Remember, no matter what you give to someone during the holidays, it’s the thought that counts. If you are going to purchase something, keep the individual in mind and – more importantly – keep your budget in mind!

Inside of buying a gift, here are some great ideas:

  • Consider making him or her a personal photo album. Photos are always appreciated, even more so when you take the time to collect and organize them in a way that will remind the person of a place you visited together or of a family member or event. This is a very inexpensive and impressive gift that anyone would enjoy. It’s always appreciated.
  • Get those creative juices flowing and make a gift basket. Again, include things in the basket that the receiver would enjoy: their favorite candy, snacks, fruit, beverage, etc. Including some baked goods (baked by you) are also appreciated. There’s no limit to what you can create and bundle together to make a personal gift basket. And, yes, men enjoy receiving gift baskets as well!
  • Purchase a small gift and include with it a poem or a story about the person. If the recipient is your romantic better half, you could also buy a series of inexpensive gifts and bundle them together. Think: The 12 Days of Christmas and give the person a “pear” on the first day of Christmas, chocolate turtles (for turtle doves) on the second day of Christmas, etc. Very clever!
  • Make something. If you sew; knit or have good woodworking skills, start now by making someone a personal (and unique) gift. Your costs will be very inexpensive, but the gift would be extremely appreciated!

Get those creative ideas going now and get started working on your gifts!

Evan Vitale – Big Budget Savings (Part I)

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By Evan Vitale

If you’re looking for ways to trim the fat; stay within your budget or just save some extra money for a rainy day (or a vacation), check out these tips that can help you find some extra money.

Cable TV – This is huge and chances are you can find some opportunities here to save some money. If you are happy with your current cable package, take a look at possible bundling packages with your service provider. By adding internet and telephone services, you’ll save big. If you’ve already bundled, call your cable company and see if they can help you find ways to save money (without pulling the plug). Sometimes, they’ll give you a better rate for being a good customer or, perhaps, you may have the option to drop drown a package tier. It might mean less channels, but it can add up to big savings.

Another television opportunity is to switch providers entirely by signing up with a satellite dish network. A friend of mine dropped his cable TV service and switched providers – a $40 per month savings (plus more channels)!

Cell Phone – Here is another area in which you can save big. Call your current provider and negotiate for a better rate. In some cases, you might be able to extend your current contract; get a new phone and find a package that can save you some money. If not, shop around for a different provider.

Alarm Service – If you have a home alarm service, call them and negotiate a better rate. Chance are good they will work with you rather than lose your business all together.

These three tips are just a start, but you can find big savings in all three areas.

Get started now. Save now. We’ll have some more tips next week!

Evan Vitale – Saving On AC Costs

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By Evan Vitale

Summer is here. Can you feel the heat? And the humidity?

For many, summer can be miserable and at times it seems like the only escape is to stay indoors and crank up the air conditioner. Yes, AC feels good, that is until you get your electrical bill and realize the cost associated with trying to stay cool and comfortable – and affordable – at the same time.

So, here a few things you can do during the summer months that will help off-set your air conditioning expenses, while saving money in other areas:

* Fire up the grill (charcoal or propane) when preparing meals instead of using the stove or oven. This way, your air conditioning unit won’t have to work harder in order to keep the house cool.

* Did you know that your clothes dryer is the second largest energy-consuming appliance in your home? Therefore, in order to save on energy and fees, start hanging your clothes outside in the fresh air. Let Mother Nature do the drying for free.

* If possible, check your appliances (dryer, washer, water heater, etc.) for electrical efficiency. Try to take advance of summer sales by purchasing a more efficient appliance. Most major retailers will offer credit for major purchases and you’ll be saving more money at home at the same time.

* Swap out your incandescent bulbs for high-efficient CFLs or LEDs. Some electrical companies offer CFLs or LEDs for free to their customers.

* Summer is also a great time to check your home’s insulation and cracks for leaks. Yes, even insulation and sealing up leaks in your home can save money in the summer time because it helps keep cool air from escaping. Note: Summer is also a good time to buy insulation as many retailers will have sales!

* Make sure you schedule regular air conditioning maintenance and cleaning and always check and change (or clean) your furnace filter. If you have a window AC unit, check and clean your filter on a regular basis.

These tips will not only help you save money, but you’ll stay more comfortable and cooler when the summer heat pours it on!