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Life, Love, & Money
With Kimlee
Long Island Advice
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 Welcome~
Life,
Love and Money are all such essentials in the regular day-to-day…
When
was the last time that you did or didn’t think about your life, love or your
money? What is life without love?
How about life without money? What is going on in your life? What
would you like to share? Do you need some advice?
Let me hear what is going on in your day-to-day…
~Kimlee |
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EDITORIAL OF THE WEEK
Saturday, November
11, 2006
Author: Kimlee, Financial & Advice Specialist
You Have More Money in Your Pocket Than You Think
I know that we all don't want to go on in life as a penny-pinching
cheapskate nor do we want to be without money and living paycheck to
paycheck on a weekly basis. We have to find a middle ground that we
can ultimately enjoy life, but have more money in our pockets—or
money markets, IRAs and savings accounts for that matter.
Just off the top of my head I came up with these and you can
probably add a heck of a lot more to the list. Here we go...
Bank Service Charges:
We all know how our banks love to nickel and dime us. For reasons
such as not maintaining a $500 monthly balance or using another
banks ATM machine. Whatever the reason these small fees quickly add
up over time. Pay attention to your bank statements and review all
bank documentation regarding service fees. You are looking at
savings of $4 to $15/month.
Magazine/newspaper subscriptions:
Visit your local library or subscribe to magazines that offer
professional/courtesy subscriptions. There are a lot of magazines
out there that are free and the advertisers in the mags fund it…so
take advantage. For example if you are mother or mother-to-be
www.babycenter.com has free magazines for the expectant mother, and
they have them for mothers of toddlers and teens too.
Otherwise, carefully pick and choose the magazines you really want
to subscribe to and look out for introductory subscription rates.
Stop smoking:
Preachy, I know... but that's a lot of money going up in smoke (pun
intended!). Not only is this good for your wallet but for your
health as well and if you are applying for life insurance, your
premiums will be lower because you are classified as a lower risk
individual. At $5-7 a pack and two packs a week that's $40-56 a
month.
Telephone services:
Do you need all those bundled services (call waiting, call answer,
call forward). Pick only the services you absolutely need otherwise
save at least $5-10/month. A lot of these cell phone providers also
have promotions going on for their customers but tend to not offer
to existing customers—unless THEY inquire. Call your cell phone
provider and see if they have any deals going on. In addition to
that, make sure that you have a plan that suits your needs. If you
pay for 1000 anytime minutes a moth and only use 400, then maybe you
should downgrade—and vice versa if you use to many—upgrade, so that
you do not get charged 50 cents per minute!
Books and CDs:
Why pay full price when you can get a "gently used" or "previously
enjoyed" copy of that best seller for a fraction of the price. Ebay
is one of the greatest resources for finding these items fast and
cheap.
Coffee/Muffin mornings:
I'm guilty of this? I have to have my morning coffee (the office
coffee is not very good) but at least I've learned to cut back on
the muffins and donuts. At $3.00/day over the course of a month you
are looking at a potential saving $60.
Lunch:
I finally stopped being lazy and started preparing my own lunch. Not
only is it expensive but also fast food is not entirely healthy
either. If you save on average $5/day that adds up to $100 for the
month.
Sales patterns:
In my experience, Christmas merchandise is discounted 50% or more a
day or two before Christmas and following Christmas.
Also consider buying seasonal products (boots, winter/summer
clothing) as the seasons change. At times it might be difficult to
find your exact size or color but luckily that's usually not the
case. We're talking savings of 40-60% and sometimes even more.
Month end recap:
By the end of the month, depending on your lifestyle choices and
spending habits, you just might end up with an extra $50, $100 or
more that you thought you never had. You can do it without depriving
yourself and without a noticeable difference in your day-to-day
life.
It's a balance between living for today and planning for the future.
It's not always easy but it's worth it!
Think of these little sacrifices as an investment, which will reap
you multiple rewards many times over.
 have
the courage to question & challenge the status quo... refuse to
accept "traditional" thinking and answers as fact....
~Kimlee
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