Refinance your auto loan to give you more cash flow!

For some of you out there, you may be in a position where you need a little more cash each month. If you have a vehicle, and you are not upside down on your loan, have you thought of refinancing? I did that for my last vehicle. I owed $17,000 and my monthly payment was a whopping $733 a month. However, after refinancing, I got it down to $435.

Refinancing did mean that I was going to pay more interest and extend the life of the loan. I was taking great shape of the car and it was in good shape. The extra cash flow a month let me put it into savings.

Save Your Receipts!!! You can get $$$$$

When I go shopping I always save my receipts. Yes, it can be a pain, but it is a way to save money. Last week I went and bought a blazer for $89.99 and I kept my receipt. Today, I see the same blazer at the same store on sale for $59.99. I take it back and get $30 back. This is true with many things, especially around the holidays. This year alone I have been given already $100 back on previous purchases. All of that money I have put away for my vacation. It was easy and cost me no money. I just had to be organized and disciplined in saving receipts.

I have had several readers email me with this tip. Thank you to everyone.

Please email me your tips and I may post them,

Call Your Cable/Satellite TV Service for Deals

I just got a $200 credit on my Satellite TV Bill because I called up and threatened to change companies! You have to know how to work it and be serious about canceling your service. I was planning on switching to another company for a year at a low rate anyways, but I will enjoy the credit for right now. After a few months, I will play the field again to see what I can get.

You can call your service provider and see if they have any specials or rates and see what they can offer to keep you as a paying customer. You may get nothing, or you may get a small windfall like me.

Let me know if you try this and what the result is..... themoneyguru2009@yahoo.com

Save on water, Save on Moolah big time!

Here are a few money saving tips with water at your house to help you save on water and help save you some cash.

1. If it's yellow, let it mellow; if it's brown, flush it down. I know you are probably saying, eeeeewwww! But, every time that you are able not to flush, you save on water and sewer charges. Obviously, you only want to do this if you are the only one using a specific restroom.

2. If you have an older home or apartment, invest a few dollars and buy low flow shower heads and aerators for your faucets. They make 1.5 and 2.0 gpm (gallons per minutes) for your bathroom faucets and are cheap to buy. I installed it myself after going to Home Depot and buying them for a few bucks each.

3. If you have an automatic sprinkler system, cut the watering time by a few minutes. Every minute less is money saved.

4. Fix that broken sprkinler! Leaky sprinklers equals leaky pockets and you are wasting money.

5. Buy an egg timer and use it to time your shower. I set mine for 5 minutes and I have already cut more than 20 bucks alone off of my water bill. I love long showers, but now I need to pinch every penny.

Anyone out there have water saving tips? Email me and I would love to share them. themoneyguru2009@yahoo.com

You can search for other water saving and money saving tips right here in my blog! Thanks.

A Little Credit Card Trick Companies Don't Want you to Know!

Ok, this is a little trick that I learned on tv with one of the money guru's. I tried it and it works most of the time and has saved me hundreds of dollars on interest. However, let me warn you that it only for people that have been on-time at making credit card payments. This is what you do: Call your credit card company and tell them you got an offer for another credit card with a lower rate and that you are thinking about closing your account if they can not meet or beat the offer, or even lower your rate. They may tell you about a promotional rate that is currently available or may trasnfer you to the customer retention department. Not every credit card will always have a promotional rate, so keep calling every so often.

One of my credit cards was at 13.99% and I called and got a promotional rate for 7.99% and then I had a new floor put in my master bedroom. The interest rate has been cut almost in half!

Give it a try and let me know your success stories. themoneyguru2009@yahoo.com

Fine Tuning Your Budget

Once you have made your budget and say to yourself, "Oh, Heavens to Betsy, I don't have enough money to cover everything" Don't Panic!! Now it is time to cut a few corners and cut a few unessentials out of your life. For me that meant changing car insurance to get a better rate and canceling my XM Radio subscription. FM will have to do for now.

Here are a few things that you can do to cut the fat out of your budget:

1. Shop around for better car insurance or house insurance rates to get the best deal, without lowering your coverage.

2. Check around for the best cable tv rates or directv for your needs. By switching, you may be able to save a little money and get a bill credit each month for a year.

3. Did you know that you can refinance your auto loan? For my old car, I was paying $733.00 a month and I owed $17,000. I was able to refinance my auto loan and brought my payment down to $425 a month, giving me more cash flow.

4. Don't eat out a lot, and if you do, cut back a little. Eating out is very expensive. It is much more economical to go to the grocery store and plan out your meals for the week and buy your meals that way. Yes, cooking is a drag, but it will help you make your budget. If you clip and use coupons, that will even help you save even more.

5. Tighten up on your Utility bills. Contact your utility carriers if you are low income. Sometimes they may have special rates or discounts. I know that SBC has a Universal Lifeline plan which is discounted and Pacific Gas and Electrical has a "CARE" program, which gives the user a discount on rates. Even Omaha, Nebraska's power company has a "Budget" program.

6. If you are a homeowner, you may be able to have your property taxes reduced. I know that in California, the economy has severely dropped property values, but the properties are still being taxed at a higher rate. Contact your County Assessor's Office and see what you can do to have your property taxes reduced if the value of your property has declined. The reduction may only be temporary, but any extra that you can save will help you out.

A Personal Budget is Necessary First and Foremost

First and Foremost, you need to have a personal budget. If you do not take the time to plan your uses with your money, you will never get anywhere. Besides having a budget, you have to have some personal constraint and know when to say "no" to certain things, such as that pair of cute pumps on sale at Macy's that you really don't need because you already have 20 pairs in your closet. The budget needs to be designed to let you be able to pay all of your monthly obligations, yet let you be able to have a little fun, too!

To begin, make a list of all of your monthly obligations and write down their amounts and when they are due. For example, my mortgage payment is due on the 15th and my car payment on the 26th. Also, plan out any major expenditures that you are planning to make during the next 6-12 months and you can try to work those into your financial plan. Next, determine your income for each pay check. If you are on salary, it is a piece of cake because your income will not change from pay period to pay period. If you are an hourly employee, use the average number of hours that you worked for the past 3 months for each pay period and base your budget on that. You will need to calculate your net pay and I have included a link for you to EASILY calculate your net pay after taxes for your budget: http://www.paycheckcity.com/copaycycle/netpaycalculator.asp

Now it is time to set up your budget. Below is the actual budget format that I have used for the past 3 years and it has allowed me to live freely and make my money grow! The budget did change when I bought my home and it is shown below at the current status. I have also explained what each line is.


Check One $$$$.$$
General- all food, gas, entertainment, and anything fun I want
Savings- I pay myself with every paycheck
HOA- Home Owners Association (Only $32.50, but I still plan for it)
Credit Cards- I budget for credit cards $100 every month
IRA- I plan for retirement and put a little away every month
Mortgage & Bills- Mortgage payment and bills such as electric, water, cable, and phone.


Check Two $$$$.$$
General -all food, gas, entertainment, and anything fun I want
Car Payment- monthly car payment
Insurance- auto insurance
Savings- yes, I pay myself again
Cell Phone- my cell phone and wireless Internet laptop card
IRA Account- a few dollars that I have left over go to my retirement account.

If you notice, I have savings scheduled as an expense in my budget. Many people fail to do this and have to live paycheck to paycheck. I always pay myself, even if it is a little bit and put it into a savings account. I am not saying that you have to use my exact format, but it is a general idea of how to make a plan. Everyone has a different financial situation and your budget has to be designed to fit your needs. If you have any questions, you should seek a professional financial planner to help you out.

Remember one thing as you leave my blog page: "Fail to plan, plan to fail."