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Tag: Money

Using color to design room saves money

Using color to design room saves money

Home & Garden
Interior designers are well worth their weight in gold, but in today's tight economy, gold is a little harder to come by than it once was! Money need not be an issue when it comes to creating a truly Impressive home interior, however. By understanding a few basic styling principles about color, you can create a truly beautiful interior without cashing in the 401K. The Right Color Can Change The Look of a Room Before starting an interior styling project it's important to determine a color scheme. Quite often, just changing colors in a room is all that's needed to create a brand new style or create a feeling of freshness. For many people, however, selecting the correct color is often the most daunting part of the process. How to Choose The Correct Color Color preference is as...
Tips on how to retire without running out of money

Tips on how to retire without running out of money

Finance
Whether one is contemplating retirement or already retired, the primary need for this stage of life is sustainable income. The challenges of rising medical expenses, inflation, taxes, and uncertain U.S. Social Security retirement benefits greatly complicate the equation. The key question for retirees changes from “Can I afford to retire?” to “Can I afford to stay retired?” Income Needs During Retirement Many people assume they will need less income in retirement than they did during their working years. Others are surprised to find they need the same amount of income or sometimes more to maintain their desired retirement lifestyle. Income needs during the early years of retirement are largely driven by leisure activities, such as travel. Later in retirement, the need for more, an...
Global financial crisis promotes frugal living

Global financial crisis promotes frugal living

Finance
The media is rife with stories of the negative impacts of the Global Financial Crisis, but there have been many new developments of a more positive nature that do not get coverage in the tabloids or gain airtime in the electronic media. Upside to the GFC - Lower Interest Rates Increase Housing Affordability Interest rates are down, considerably. The cost of a mortgage is well down on the rates being charged just eighteen months ago. Monthly repayments on variable mortgages are lower in line with lower interest rates, and if the repayments have remained the same the principal of the loan is reduced as the interest component of the repayment is a lesser proportion of the monthly installment. This allows the homeowner to get ahead, and create some contingency to delay payments for a whi...
Divorce and money not necessarily linked

Divorce and money not necessarily linked

Lifestyle
Traditional wisdom states money is among the leading causes of divorce, but experts say this often-quoted fact may be grounded more in myth or history than in modern reality. Is Money Among Top Causes of Divorce? Money may not be the marriage-buster it is commonly thought to be, Alison Lobron reports in the Jan. 18, 2009, Boston Globe article, “Does Money Really Wreck a Marriage?” Lobron contends that married couples can argue over issues about money but research shows divorce and money problems don’t have to go hand in hand. “I'd heard for years this idea that money was the number one cause of divorce, but I'd never seen any empirical data,” Utah consumer economist Jan Andersen told Lobron. Andersen teaches workshops on personal finance at Utah State University. When research...
Married couples and money psychology

Married couples and money psychology

Finance
The money personalities of Savers and Spenders don’t have to cause stress in a marriage (though they often do). These psychology tips can help married couples manage their finances with minimal or no conflict; they’re based on advice from “The Money Couple” and authors of First Comes Love, Then Comes Money (Harper Collins 2009), Scott and Bethany Palmer. Recognize Different Money Personalities The first tip for resolving financial conflict in marriage is to become aware of how Savers and Spenders view money. It doesn’t help to keep fighting about the credit card bills or mortgage payments! What may work better is to talk about how parents, childhood experiences, and marriage affect spending and saving habits. To peacefully manage finances, both spouses need to be aware of how the pas...