photo credit: pfala

If you hit upon hard times and need an urgent, temporary cash injection to pay a bill or get through to payday, the Investing for Beginners blog has five ways you can quickly get your hands on some cash:

• If you have securities (a house, or investments), get a temporary line of credit that is backed by these securities. Weigh the risks first, of course - especially if it’s backed against shares, they could go down and you could get in even bigger trouble.
• Get a second job. It doesn’t have to be forever, and it might even be over the internet from home. But it’ll get you extra cash.
• Try a loan against your 401(k) - but only if it’s an extremely desperate circumstance. Borrowing from your retirement fund is usually not at all advisable.
• Check if you can redeem some rewards points. Most people have a credit card that includes reward points and you can often redeem these as vouchers for various grocery and department stores, so if groceries or other store goods are what you need, this is like getting a form of “cash”.
• Sell your jewelry! We’re not so happy about this one but it’s a valid point - gold is valuable and if you have some excess gold jewelry that you could probably live without, consider selling it off to solve your financial crisis.

As a recent New York Times article points out, job hunting isn’t really the same as it used to be. Here’s how:

• There are several very large job websites and each vacant position posted on the sites will receive hundreds (or sometimes thousands) of replies. A sensible job hunter will keep an eye on these sites and still apply for relevant jobs, but not have high expectations of getting a positive response.
• Internet job sites that collect resumes from job hunters change the way we should write our resume. Often, it won’t actually be read by human eyes, but their software will search for keywords that are relevant to the vacant position. That makes learning to use the right key words a vital skill.
• Some recruiters ignore all job advertising sites now and use social networking methods; for example, one Atlanta accounting firm direct emails relevant people from LinkedIn and either one of them or, more often, one of their acquaintances that they pass the information on to, becomes the successful candidate for the job.
• Despite all the new ways to look for a job, many recruitment experts say there is still one key method: getting out there and physically meeting people. Face-to-face contact is still the most reliable way for a recruiter to decide that you’re the person for the job.

photo credit: r-z

There are plenty of obvious ways to save money that most of us have heard of and many of us try - eating out less often, cutting down on fuel costs by leaving the car at home, and planning meals and shopping for groceries off a list. But if you’re already doing all this and still finding it hard to make ends meet, try a few more money-saving tips from Girls Just Wanna Have Funds:

• Cut down even more on fuel costs by avoiding all unnecessary driving. For example, if you normally drive home while your child is at sports training for an hour, take a book to read or something to keep you busy and sit in the car and wait.
• Negotiate lower prices with as many of your service providers as possible. Talk to your cell phone or internet service provider and ask for reduced rates. The worst thing that can happen is they will say no, but very often there will be a way to reduce your bills.
• Scale back your cable TV package and reduce how many pay per view movies you watch.
• Buy everything you can in bulk - tea, coffee, sugar - but double-check that the bulk version is definitely cheaper. Some shops try to trick you on that!

This is not quite our dream - retiring from our main job but then continuing to work, at least part-time - but it’s becoming a reality for many Americans. In theory, carrying on with some part-time work rather than stopping entirely does seem a bit appealing financially, especially if it means continued medical insurance benefits. It could also make for a good transition between working and retired life, and help retirees continue to feel useful even if they are not working in a full-time “career” position.

The idea of working during retirement has become so popular that there are now many websites devoted to the concept.

Some of them include job listings for positions which are “senior-friendly” or actively encouraging the employment of retirees or near-retirees. Many companies actively promote the employment of such people because of their wealth of experience and good work ethic. Other websites include resources to help you change into a different line of work if you don’t want to continue in your original career. And there is also information available on which particular locations are likely to support semi-retired workers, if you want to move somewhere to settle down.

If retirement age is sneaking up on you — or has already caught up with you — you may be considering a move to a different city. After all, you’re not longer held down by a job or school district, so it’s time to shop around for the best place to live out your golden years. To help you make that decision, Forbes rounded up America’s most affordable retirement cities:

• Salt Lake City, Utah: The country’s fifth most-affordable city to retire in, Salt Lake has nearly 16 doctors per 1000 people — more than the national average — and a growing economy fueled by young workers.
• Houston, Texas: As the country’s fourth most-affordable retirement city, Houston offers beautiful weather, affordable housing, and a bustling economy. It was also voted the country’s Best Place to Buy a Home.
• Minneapolis, Minnesota: The twin city is the country’s third most-affordable retirement city, with a bustling art scene and rich nightlife options.
• Dallas, Texas: Dallas is the country’s second best retirement city, offering retirees low taxes, amazing weather, and a very strong economy. Southern hospitality doesn’t hurt, either.
• Columbus, Ohio: If you’re looking to stretch your dollars for high quality of life, the Columbus is the place to be. More than 20 percent of the city’s population is over 65, attracted by the city’s low cost of living and very affordable housing.

It’s a scary time in America - unemployment is rising, and things are getting harder to buy. Layoffs are becoming a sad necessity for many companies, and employees wonder who will be next to get the ax. CNN answers the question:

• First come is not first served: Years ago, people were laid off in order of seniority - they newest employees were the first to go. Today, employers are much more concerned with keeping their best talent, and that could mean a 20-year company veteran or the 22-year old recent graduate who just joined 2 months ago.
• The highest paid: When companies are trying to dig themselves out of a hole, they often look toward their highest-paid employees. Today, they really need to be sure that their highest earners are worth every penny. If you fit into this category, now is the time to maximize your production as much as possible.
• Necessity means jobs: Companies hoping to maximize tiny profits will often begin by looking within, to determine which jobs or entire departments are superfluous. Unfortunately for many, if your employer determines that your job is not absolutely necessary to the company’s success, you may find yourself without a job.

If you’re sick of being stuck in a cubicle, can’t stand obeying a boss, or just want to work from the comfort of your own home (and pajamas), a home-based business might be right for you. Too good to be true? Not so, but there are a few factors and tips you want to consider before making the big decision to work from home:

• What do you want to do?: Before falling in love with the general idea of working at home, devise a plan for what you actually want to do. There are many, many books at your local library dedicated to this subject, so don’t be shy: write up a business plan and leave no stone unturned.
• Can you work for yourself?: It may sound like a breeze, but you and you alone will make or break your chances at business success. After you do the easy stuff, like proceeding through all the legal steps of creating your own business, you’ll need to budget wisely (you’ll pay your own taxes) and learn to manage time wisely, to mention just two challenges.
• Can you make enough to save for retirement?: You’ll need to make more than just a survival income, so determine whether your idea has long-term work-at-home potential: you’ll need to pay all current expense, all of your own taxes, and save for retirement, among other investments.

For more questions to ask yourself, read the full article here.

History and personal experience teaches us that the grass is always greener on the other side - in the job world, it’s not different. But before you look for a change of career, consider that several of the most glamorized are actually some of the 10 worst jobs in America: (more…)

In these unstable times, plenty of people are worried about their savings in various bank accounts and insurance policies, so it’s worth getting some expert tips about what’s safe where.

Savings you have in a bank: The key thing here is the rules of what is covered by FDIC deposit insurance. The minimum that is covered in a savings account, per person, is $100,000. If you have a joint account with your spouse, that means $200,000. And that’s per bank. Additionally, if you have a “proper” retirement savings account (that is, an IRA or SEP, for example) then it is covered up to $250,000 per person.

Mutual funds or other investments that you buy through a bank get a bit more complicated. If your bank goes under, what you get for your mutual funds would be connected to their underlying value rather than any specific limit. But a money-market account investment through a bank is covered again by the FDIC deposit insurance rules.

Your finances and insurance companies: If an insurance company goes bankrupt, there are state guaranty associations which provide the financial back-up, rather than a federal arrangement as with banks. When the assets of the insurance company aren’t enough to pay out all the policies, then the state guaranty associations step in and pay up to certain limits, which vary between states.

We’re always looking for ways to cut our biggest bills and at Yahoo they’ve concocted an excellent list of tips for reducing five of our biggest bills:

• Energy: Seal windows and caulk doors to cut on heating and cooling costs; use energy efficient light bulbs (you can save up to $50 per bulb in reducing electricity bills), keep your car tires at the right pressure so you don’t lose fuel efficiency and don’t drive around with lots of heavy items you don’t need in your car.
• Groceries: Use a shopping list, shop less regularly and plan meals to cook which are cheaper.
• Banking: Compare account fees between banks and change your preferred bank if you can get a better deal (or negotiate one with your current bank); don’t withdraw money from ATMs that charge you additional fees; and always pay your bills on time.
• Tax: Check carefully for tax breaks you might be eligible for: first home-buyer credit, low-income tax rebates and the 2008 tax break for homeowners, just for example.
• Car insurance: Increase your deductible premium, bundle insurance policies with one insurer to get a discount and check if you are eligble for low-mileage discounts (usually under 7,500 miles a year is low enough).