If you’ve followed the journey at No Credit Needed, you’ll know this blog’s run by a family guy who managed to pay off all his debts and now continues to live debt free. He’s just posted an inspiring list of some of the great things about having no debts, and some of the highlights include:

• He doesn’t dread going to the mailbox to find another bill.
• He can afford to fund his retirement account and education savings accounts for his children.
• He can make bigger and better plans for the future.
• He doesn’t have to be worried and stressed about late fees and changes in interest rates.
• He has peace of mind about all the “what ifs” of life - if something happened to him, he now feels confident that his wife and children would be well taken care of.
• He is now able to give money to those who need it more than him.
• He can set a better example for his children so they, too, can hopefully live a debt-free life in the future.

Take a look at the list to see what else can encourage and motivate you on the path to getting (and staying) debt free.

Unless you live under a rock that you are no longer making payments on, you’ve heard about government efforts to revitalize the American economy. As Sarah Palin said so eloquently, “we need to shore up the economy”. As reported by Forbes, the US Senate has approved a tentative $780 Billion stimulus package that must find common ground with the larger US House package. Both proposals use a combination of government funding and tax cuts to promote a new flow of money in the American economy. 

To break it down into simple terms: A similar plan implemented in your personal finances would attempt to solve your money problems by reducing your income and increasing your debt. You could do this by working less and making up for that lack of income by paying for more of your daily needs with a credit card.

That plan wouldn’t make any sense to you unless you happened to be self-employed without insurance and needed to take time off in order to heal up from a work-related injury. In that situation, it makes sense to reduce your income and increase your debt so that you can guarantee that you’ll be able to eventually return to work. 

It’s easy to hear the numbers being thrown around about the current stimulus package and make sweeping judgements about what will or will not work. It’s much harder to find multiple perspectives on a particular situation before forming an opinion. Taking the time to research current events, finance solutions, and ways to save money will not only enable you to make better decisions for yourself, but to influence others to make smart money choices. photo credit: Phil Romans

We probably shouldn’t be surprised to hear that in tough times, the supermarket chains we like to shop at are having it tough too, and along with food manufacturers they have a few sneaky ways of bumping up prices that they hope we won’t notice. To make sure you don’t spend too much extra on groceries, keep an eye out for some of these tricks:

• Less product, same price: Keep an eye on regular purchases to check if the manufacturers are reducing quantities - that might make another brand better value for you
• Increasing prices that you won’t notice: A common trick is for supermarkets to increase prices on the products you buy infrequently, because you probably won’t remember how much you paid last time. Pay attention!
• Refusing coupons: Some stores try to reject coupons that customers use, especially website coupons. Check their policy (for example, how many coupons you can use per day) and know the facts if they try to reject your coupons.
• Psyching you out: The less people are spending, the more supermarkets will focus on psychological tricks to get you to spend more. As an example, research shows customers tend to walk on the right as they move down the aisles but if you shop “counterclockwise” you’ll spend, on average, less than a typical right-hand-side walking shopper! The trick to beating this is simply to have a list before you go shopping and don’t buy anything on impulse.

No matter how old you are there may come a time when your current career is not “doing it” for you any longer. Some people get bored with their career, others need to make more money, and some just want a change. No matter your reasoning you should never dismiss a career change if you feel that it is the right move to make. In fact, if you are successful in making a change you will find out soon enough that your life is more enjoyable.

If you are interested in changing careers you need to line up all your ducks before you begin to move forward. This starts with deciding what your new career will be, while also looking at this move from a financial point of view. And of course, you should discuss this with family members as well. After all, if you are going to take a cut in income you need to make sure that your family will still be able to get by.

There is nothing wrong with changing careers. This can be a great way to better your life, break up the monotony, and maybe even earn more money. If all of that sounds good, and you are tired of your current job, a career change may be in store.

Most people in the market for a home don’t have the cash to buy it outright. While there is nothing wrong with this you need to secure a mortgage in order to make a purchase. There are many lenders that offer a wide variety of mortgage products. Do you know which one is best? Do you know what type of mortgage you are looking for? There are a lot of questions involved with securing a mortgage so you should make sure you leave yourself plenty of time.

Once you know you will need a mortgage it is time to start the search. The first two steps, and most important, are relatively easy to follow: 1. make a list of mortgage companies that are reliable and offer quality products. 2. Decide on the type of mortgage you are going to apply for. This can include everything from a 30 year fixed rate to an adjustable rate loan; the choice is yours. Just make sure you know the difference between all of your options.

A mortgage is a great way to buy the home of your dreams without having to pay in cash. This type of loan may sound complicated but once you are dedicated to learning more you should be ready to make a decision.

No matter what you are shopping for, within reason, you can save money by first turning to the internet. There are tens of thousands of items for sale online, and most of them can be had at a lower price than you would find in a local store. While some people are pros at shopping online, others are still in the process of learning more. Instead of procrastinating why not turn to the internet for your next purchase? This will give you the chance to see how much money you can save and what the process entails.

There are many ways to save money by shopping online, and one of the best is known as comparison shopping. For instance, take a consumer who is in the market for a new computer. If you shop at one local store you will have to pay the price on the tag while not knowing if there is a better deal out there. But guess what? With the internet you can quickly shop and compare the same computer from many different stores. This will ensure that you get the lowest possible price.

There is no doubt that shopping online can save you time and money. Why shop locally when you can save online?

photo credit: Clean Wal-Mart

A recent article outlining Walmart Corporation’s decision to “go green”by New York Time’s writers Stephanie Rosenbloom and Michael Barbaro should give you hope as a consumer. Why?

Walmart is such a massive company that it dictates the terms by which it purchases products. To put this in perspective, imagine you are the primary customer at a local bakery. You purchase 5-600 loaves of potato bread at this bakery each week and it’s safe to say that they would fail without your business. Understanding your position, wouldn’t you feel comfortable asking your local baker to make potato bread in round loaves instead of the typical oblong ones? Of course you would! Your neighborhood baker would be happily obliged to bake round loaves in order to keep your business. Walmart does the same thing with many of its producers. When Walmart asks GE to produce a different shape of florescent light bulb, GE spends the money to make the new light bulb because it cannot afford to lose Walmart as a customer.

Walmart’s choice to “go green” means that companies the world over have started scrambling to develop environmentally-friendly versions of their products so they don’t lose Walmart as a customer. After only two days of board meetings, Walmart has begun a dramatic evolution toward environmentally-friendly products with a force that legislators can only drool over. Walmart wants to sell you everything. They’ve decided to win your money by offering environmentally-friendly products that will save you money in the long run while costing you less in the short term. Just don’t give them all your money.

The debate over public versus private college is an ongoing one, but one that becomes particularly important during difficult economic times. Every student (and often their parents, who may be footing the bill) wants to know if paying a lot more for your education is actually worth it. Does a big-name, Ivy League degree really give you more value than a much cheaper degree from your local state college?

Smart Money did an interesting exercise recently by calculating the “payback” of a college education using measures including the early and mid-career salaries, tuition and fees. You might not be that surprised to learn that it was all public colleges that made the list of those institutions that give students the “biggest payback” on their college investment.

Of course, there are other factors that should be included in a decision over which college to go to - for example, student-teacher ratios or various quality factors - but in a pure financial comparison, these colleges give the best value for money in terms of the salary you’re likely to earn compared to the tuition fees - a calculation worth considering when you’re choosing a college:

1. University of Georgia
2. Texas A&M
3. University of Texas, Austin
4. Georgia Tech
5. University of Washington

There is no denying that getting a mortgage in today’s world can be difficult. In addition to a suffering financial sector, the real estate market is plunging in many parts of the country as well. That being said, there are still people in the market for a new home. If this sounds like your situation you need to know how to find the best mortgage. After all, you want the best of the best, right?

To find the best mortgage you need to compare several offers. Even though lenders are tightening up there is still money available. This is particularly true if you have a good credit score and at least 20 percent for a down payment. By comparing more than one offer you can see which institutions are offering the best rate, terms, and closing costs. Remember to consider every last detail instead of basing your decision solely on the lender that offers the lowest rate.

The internet has made it easier than ever before to find the best mortgage. With the ability to contact both local and national lenders you should be well on your way to the perfect mortgage product soon enough.

Do you always find yourself in credit card debt no matter what you do? Simply put, some people cannot stay away from their plastic. While this is a common problem it does not mean that you have to let it affect you. One of the best things you can do when heading to the store is to leave your credit card at home and only carry cash and/or your debit card. Simply put, if you don’t have your credit card you cannot use it; no matter how badly you want to make a purchase.

When you shop with cash or your debit card you will be forced to stick to a budget. For instance, if you only have $100 in cash in your wallet you will not be able to spend more; this is just the way it works. As you can see, by only carrying how much money you can afford to spend you are more or less training yourself to follow your budget. It may not be fun, but dealing with loads of credit card debt isn’t a good time either.

If you are struggling with credit card debt leave your plastic at home and shop with cash. You will be surprised at how much good this does for you and your financial situation!