credit: wetwebwork

Are you dreaming of winning the lottery, or scheming to make as much money as you possibly can? You might be surprised to hear that a lot of financial experts say that money’s not important.

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credit: denn

When you’re trying to save money, it’s easy enough to stop going out to dinner or cut back on a vacation - but going to the supermarket is something that you can’t avoid. But here are some tips on keeping your supermarket bills lower:

• Go to the supermarket less. It’s an obvious tip, but we sometimes get caught up in rushing into the supermarket on the way home from work to grab something for dinner. Make a list, plan ahead, and try to get it down to a weekly shop - perhaps with a smaller trip mid-week for fresh fruit, vegetables and bread.
• Stick to your list. Don’t buy anything that’s not on your list, unless they’re staple items at a bargain price. Eating before you go to the supermarket also helps you stick to the list and avoid impulse buys because you’re stomach’s rumbling.
• Don’t be a brand snob - basic brands or supermarket own-brands are always cheaper but not always lower quality. Plenty of studies have shown that nobody can tell the difference. The packaging may not be so pretty, but it’s how it tastes that counts.
• Know the supermarket’s tricks. Remember that they are trying to make you buy more - that’s why they put all the candies and magazines near the checkout, so you’ll see them while you wait. They also put milk, bread and other staple items in far away spots so you’ll have to walk through the whole store. And sometimes the “specials” at the end of the aisles are not specials - check the prices to be sure you’re actually getting a bargain.

If through our investments in stocks, we play the market, then it’s important that we hedge our bets. There are many experts that volunteer to do the work for us, predicting upswings and downturns, telling us when to buy, when to sell, and when to hold. But Money Magazine’s undercover Mole warns us that predictions can urge us to buy and sell at the most inopportune times.

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credit: Tanya Ryno

Whether our goals be buying a first home, going on a once-in-a-lifetime vacation, or tucking money away for retirement, everyone wants to save more. Unfortunately, the promise is easier than the plan, and it’s easy to let current needs — food, electricity, transportation — outweigh the plan to put money in the bank. Luckily, there are several ways to trick yourself into saving up:

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If your retirement is lurking just around the corner, you may be worried about how you’re going to pay for it. With an economy on the downturn, it’s important to choose a location that will be a good investment as well as one that will meet your medical, safety, and cost-of-living needs, to name a few. To help you with your search, Money Magazine suggest 7 places to retire during an economic downturn.

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Whether you’ve invested in mutual funds for years or are just starting out, finding the right fund for you is a delicate balancing act of fees, returns, and your personal finance goals. As you review all the information, keep in mind whether a mutual fund is no-load, or has a front-end load, back-end load, or level load.

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credit: Josiah Mackenzie

Rising tuition costs can be crippling for students, sometimes effectively making the college decision for them. The average total cost of attending a private institution, including tuition, room, and board, has risen 30% to an incredible $32,307 for the 2007-2008 academic year. At a public school, costs drop to $13,589, a price that many still cannot afford.

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It’s bad enough if you end up in some financial difficulties yourself and harm your credit rating, but if someone steals your identity and you end up with a bad credit rating without doing anything yourself, that can be very annoying and extremely inconvenient. Not only that, it’s becoming increasingly common, as we leave details of our identities in more and more places. (more…)

Do you even know your credit score? It’s a very important number. If your score is just two points below the most desirable scores of 700 or better, it can cost you thousands of dollars in interest on a home mortgage.

Your credit score is the number one tool that lenders use to determine the interest rates you’ll pay for credit cards, car loans and home mortgages. Consumers with scores below 600 are typically charged high interest rates, and if your credit score is really bad, you may be not be able to borrow at all.

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credit: acidcookie

If you’re contemplating the daunting financial proposition of going to college, but are in two minds because of the cost, then it’s time to change your thinking. Going to college is an investment that will make you money - the facts speak for themselves. Consider this:

• Having a degree means you will earn on average $20,000 per year more than someone who hasn’t gone to college. That means you’ll still be making a heap extra long after your college loan is paid off.
• Think about what you’ll study carefully, and if you can combine your interest with a job that’s on the high salary and high demand list, your investment in college will pay off even better. Jobs in computer based areas are still amongst the highest paying and in highest demand; other jobs that are projected to provide steady employment and good salaries include financial services agents, securities sales agents, engineers, post secondary teachers and accountants.
• You don’t need to attend the most expensive college to get a successful career in one of these areas. Often times a degree from a public (and therefore much cheaper) college is held in the same regard. Do your research carefully.
• Think of a degree as an asset, like a house. It’s probably the most important asset you’ll ever have.