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We typically think of the current major recession as mostly affecting adults, but recent research from Tesco Bank shows its hitting children where it hurts too: with their pocket money. Moreover, the same survey revealed many other interesting tidbits, including what Britain’s kids do with their money, and advice on how parents can foster better spending habits. (more…)

We all know energy saved is energy produced; and we can successfully achieve this without compromising on our lifestyle or comfort. There are a number of things we can do in our house to save on energy, which require little to no time at all. (more…)

The most basic definition of a credit card is “A card through which you can borrow Money as a loan for which the lender charges you Finance Charges / Interest.” This concept should be very clear in the minds of those who use credit cards. When using the credit card we are only delaying the necessary payment and it still has to be paid one day with interest. The more one delays, the higher the cost for that particular purchase. On the other hand a credit card is also a very convenient way of making purchases and if used sensibly it is really a friend in need. (more…)

Saving money is both a necessity and a means of fulfilling our desires. The first step should always be a mental exercise in saving money. Follow a few simple steps to try this. Make your mind blank and take a few deep breaths. Count till 10 and try to relax. Now bring your mind back to work and go to the core of this issue of why you have to save money. (more…)

I am sure now you have made up your mind and are serious about saving money, so here are some steps to follow in order to fulfill your desires. The first step is to make a formal plan for saving by setting a financial goal to work towards, such as a down payment for a car or house or PS3. Construct this plan in terms the Total Money required and an allotted Time Frame for achieving the Goal. Always try to keep a target of more money than is required and less time frame than is actually required, as this will allow you to meet your needs even if you still do not achieve 100% of your targets. (more…)

The key to maximising benefits from the budget is to focus on this central idea of achieving the maximum benefit with minimum effort. The first thing to do is choose a time for making your budget when you are relatively free, and then fix a target of finalising your budget well in advance of the implementation stage. (more…)

Money is one of the most important aspects of everyone’s life. From childhood to old age, money plays a major role in our life and most of the time we are involved either in earning it or spending it. Money is the magic wand which fulfills all our dreams and desires. We pay a lot of attention to earning money, but few people realize the importance of analyzing the spending part. It is equally important to know where your hard earned money is going and for this you should have a spending or expenditure plan which you may also term a budget. (more…)

I am going to ask you a very simple question. Do you want money? The answer to this question is obvious. My next question would be, do you really want money? Now you might think that it’s restatement of the same question with the just the addition of the word really. Well by asking that question I want to confirm if you really want the money or you want the freedom that money can buy you. What is the point of being a millionaire if you are in prison serving life? (more…)

You want to run your home like a business, and don’t get intimidated by the task of making a budget, it is actually very easy. All you need is a bit of commitment. The key to making a budget is to make it simple and realistic. Never make an unrealistic budget which will be impossible to stick to. Here’s how you do it in three simple steps. (more…)