Category Archives: Business & Finance

How to Build Credit While Attending College

Establishing a credit can become extremely annoying. However, it is vital to do so in order to obtain a loan or any other financial benefit. In some cases, the person wanting to make a credit does not have the proper documents that allow him to make a credit. One’s financial conditions can be one of the elements if the credit provider is not ready to give him credit. However, he has other options that may help him to create a high credit or otherwise the credit giver may be doubtful of your intentions.

How to Build Credit While Attending College How to Build Credit While Attending College

There are few necessary measures one can take before getting ready to create the credit. He has to go through the following steps in order to ensure a decent credit rating:

The first thing he has to do is to open a savings account, if he has not opened it yet. This is the first essential step as maintaining a savings account is useful in almost every financial service.

One should choose the bank having the highest number of saving accounts. One can also choose the bank with which he has cordial relations. This is a good option as they could suggest him ways to build credit that suit him.

It is better that one adds an overdraft protection that can serve him as an extra credit. The overdraft facility ensures a positive balance in emergencies if the balance reaches a certain minimum level.

If one is still facing obstacles in opening a credit, then he can opt for a secured credit. If one has secured his credit then, he can take help from the account as the bank link the credit to his account.

One should never take credit card for granted as it could lead to unwanted problems. If one is using such a card for the first time, then he should sure that he learns the rules of using it and use it in a disciplined manner.

Tips

A quality credit rating can help one achieve a flat or a plot, vehicles or may be even placement services that may in turn provide him excellent job opportunities. He can make a thorough check on his credit rating before completing his studies.

Warnings

One should not let his relatives or any other people withdraw or take the responsibility of his accounts, ATM card and such other cards, as it may backfire. What happens after another person uses one’s account is his mistake and not somebody else’s. One may land up in serious trouble and regret the decision of letting another person use it.

How to Calculate Total Interest Paid on a Car Loan

Everyone wants to own a car in the modern era. Now days it is a status symbol for a family to be the owner of an automobile, especially car. With the daily living costs increasing and prices of commodities skyrocketing, purchasing a car is not easy. Many banks offer car loans to their customer and help them in achieving their dream. At the same time as a common person who pays the taxes regularly, you must keep in mind that the lender will try to take a higher rate of interest. There will be monthly installments known as EMIs. Try to make the deal where you pay the lowest interest rate, making the process of calculating the interest on car loan easier.

How to Calculate Total Interest Paid on a Car Loan How to Calculate Total Interest Paid on a Car Loan

Steps

Know your resources properly. Purchase the car that you can afford. Calculate beforehand the amount of interest you will be able to pay.

Establish the time in which you will have to make full payments against the loan taken. Moreover, determine whether you will be able to do it in the time given to you or not.

Calculate the total amount of payments, which you are, required to pay every month and the amount that you will get will be the EMI, Every Month Installments. You multiply the sum by the actual amount of the loan taken, which you have to pay to the bank.

Subtract the amount obtained in the abovementioned step and multiply it by the number of payments. The final answer you get is the total amount of interest you will be paying for the car loan taken from the bank.

Keep in mind that if the dealer pays the down payment then you also have to reduce the amount from total cost of the car, and you will get the principal loan amount.

If you are aware of the interest but do not know the precise payment, then you can use the online calculator and make the process less complicated.

Tips

Finding the percentage of interest will be an advantage. You can find that by referring to the loan papers given to you by the lender. The terms and conditions section would contain information on “percent interest.”

Make sure that you understand the terminology of the moneylender as a difference in opinion could lead to problems later.

If calculating loan becomes difficult, then you can download an excel sheet from the Internet.

Warnings

Make sure that the bank or the lender is an authorized and a legal entity.

Read all the documents properly before signing the form and sort out all queries before hand. Feel free to get your doubts clear by the lender.

How to Create Your Own Price Book

A price book can really help you save money. Basically, you use it to record the prices of the items you buy frequently. This will help you to recognize when a food-store bargain is a cost saver and when it is not. You will know the price you paid in the past and it will help avoid costly mistakes. It can help you save money by knowing how much you should be paying for the items that you use the most frequently.

How to Create Your Own Price Book How to Create Your Own Price Book

Your Buying History

Why should the store have the advantage? If you have a customer loyalty card then every purchase that you have made is logged and in the store’s database. They know what you buy, how often you buy it and how much you paid for it. The trouble is, you do not always know. But now you can with a price book. You can log:

  • when you bought
  • where you bought
  • how many you bought
  • what price you paid

How Does a Price Book Help?

You can now see that the prices have been going up and down. It might be time to see if you can get your frequent purchases cheaper somewhere else. Better still, there might be a time of the year when you could stock up because the price always drops then. You could also discover that if you bought in bulk you could save even more money. Businesses use this technique all the time. They can spot a good deal and that is when they stock up.

Creating Your Price Book

There is no hard and fast way to do this and it depends how much detail you want to include. At a minimum, your price book needs to include your regular purchases. People who create price books use:

  • Large notebooks: Each item is given its own page. The price charged in a particular store on a particular day is listed. Each time you look in a different store you can log their price.
  • Small pocket notebooks: This is the most convenient as you visit various stores. You can organize the products in alphabetical order and jot down the lowest price that you find.
  • Computer spreadsheet: Not exactly the most convenient unless you are really hightech. But you can make instant spreadsheet updates and keep a track on prices.
  • Index cards: An ideal convenient and sortable system. It also means you can pull out the cards to match your menus and your master list and take them along with you.

How to Save Money on Cleaning Products

Cooking can be messy and it is important to make sure that your kitchen is always clean and hygienic. Various nasty bugs, in the form of bacteria and viruses, can thrive in an unclean kitchen or even in a clean one when nooks and crannies have been ignored. Famous brand names would have us believe that they have a solution for every cleaning and hygiene worry. They also aim to convince us that they are formulated especially and hundreds of scientists have spent decades developing the products. This could not be further from the truth!

How to Save Money on Cleaning Products How to Save Money on Cleaning Products

Cheapest cleaning products

Even the branded cleaners basically consist of one or two active ingredients. Once we know what they are, it is far cheaper to buy them in bulk and just simply dilute them. Many of the cheaper cleaners actually work even better than some of the big names. However, a word of advice: it is dangerous to mix some chemicals. If you were to mix ammonia with chlorine bleach, the gas that would be created could be fatal.

Branded

Huge multinational companies, like Proctor & Gamble, Unilever and SC Johnson, produce a bewildering range of cleaning products. They are all backed up with tested claims and they have enormous marketing budgets to persuade us that their creams, sprays and liquids do a far better job than anything else on the market. They might do, but at a price – and you do not always have to pay that high price. However, we should not disregard these branded products, especially if they are on special offer or are part of a multi-buy deal. But bear in mind that own-label, multipurpose and home-made cleaning products will probably do just as good a job.

When to Buy Branded

Like all of the other products in the grocery store, branded cleaning products are often offered as part of a special deal. The manufacturers may provide the grocery store with the free item in the buy-one-get-one-free deal, with the purpose of convincing you to switch your brand, having first tempted you to try it. Play the game and switch brands, but when a competing brand has a similar deal the following month you can switch to them. Switching makes sense and saves you money.

Own Brand

Just like any other product, an own-label cleaner is often made in exactly the same factory, in exactly the same conditions, with precisely the same formula as the branded product. There might be slightly weaker bleach, it may smell of pine instead of lemon or it might be less gritty and abrasive. Own brand does not necessarily mean watered down or less effective. In fact, in many tests, the own-brand products are superior to the branded ones, or at least as good.

Value Cleaning Products

Value cleaning products, or unknown or unnamed, are pretty much at the lowest end in terms of price. These are perfectly safe, usable and effective. But do not expect a premium quality product. The cheapest possible ingredients will be used. The likelihood is that if you find something that works well for you, you might not be able to find it again. Therein lies the problem: if it is cheap, do you stock up and take the risk that it will work, or do you try it out, discover that it is great and then never see it again? Many discount stores have their own regular, value brands. Some of the unknown brands are in fact well known in other countries. It is probably worth giving them a try.

Multipurpose

How many households have got a cupboard full of cleaning products, each with their own specific job? A hob cleaner, stainless steel shiner, bleaches, anti-bacterial sprays, and the list goes on. To cut down on space, time and money, consider some of the multipurpose cleaners. A spray that cleans, degreases, shines and is anti-bacterial should sort out nearly all of your work surfaces and your kitchen hygiene issues. The problem is that these are often branded products, so they are premium priced. Watch out for new promotions, particularly when a new brand is launched on to the market.

Natural and Eco-friendly

We should all quite rightly be concerned with the planet and the effect of pouring buckets of bleach down our sinks and toilets. There is a growing trend towards buying natural, eco-friendly cleaning products. But are they not just branded products with a different set of features to attract us? Natural products have also found their way into own-brand product lines. Playing on our concerns, the stores will always add a little to the price of these eco-friendly products, knowing that we are prepared to pay slightly more and shaming us into doing it.

How to Save Money on Food

Everyone slips into an eating routine. Some of us like pasta; others will prefer to have potatoes or rice with every meal. Some of us will not consider it a meal unless there is meat on the plate. The key to shopping on a budget is to be flexible. The same goes for vegetables; buy what is in season and what is plentiful and that guarantees that you will pay less.

Meat and Poultry

How to Save Money on Food How to Save Money on Food

For most portions of meat, you need to be thinking about 100-175 g/4-6 oz per person. Food like beef steak, chicken and roast pork should be around 175-225 g/6-8 oz per person. Do not worry too much about the size of a joint of meat you can always slice it up and use it for another meal the next day. You can also freeze sliced meat wrapped in kitchen foil in portions. Meat varies in price – consider stewing steak rather than beef steak or other less expensive cuts that can provide you with an equally delicious meal at a fraction of the price, and do not forget minced/ground meat. See the Basic Techniques section for more in-depth advice on the different meats and meat cuts that you can cook.

Fish

Oily fish like trout mackerel and herring are great substitutes for a meat meal. One or two of these whole fish is ideal per person. They are relatively cheap and nutritious too. White fish is getting more expensive, but there are still bargains to be found. A 175-225 g/6-8 oz fillet is more than enough for one person. You can poach, fry or bake white fish. It is simple and is full of nutrition. There are plenty of other options, and do not disregard what you might think are more expensive alternatives. Check out the fresh fish section in your store. They will have promotional offers and they are bound to have reduced items towards the end of the day.

Pasta, Noodles and Rice

As we will see, these can form the basis of any meal. A generous 75 g/3 oz portion per person is ideal. Pasta, noodles and rice are filling and can be combined with vegetables, fish and meat or even just a simple sauce. A large, family-sized bag will provide plenty of meals for a couple and it keeps for ages in the cupboard. Just take out what you need per meal and seal the bag again. You can seal the bag with a washing peg if it is not a self-seal bag.

Vegetables

Eating fresh vegetables is an essential part of a balanced diet. They can be eaten as part of a meal or even as a meal in themselves. Vegetables are very versatile but you must not overcook them or you will lose most of the goodness and flavor.

  • Cost of frozen: Do not forget that, although frozen vegetables are more convenient and often cheaper, they can be more expensive than fresh seasonal vegetables.
  • Variety: Be flexible with your choice of vegetables.
  • Seasonal: Buy according to the seasons and keep a look out for special offers.

Freezing Perishable Foods

Most of these perishable items can be frozen. Here is the essential list. Remember they are perishable, so will have a use-by date:

  • Bacon: Invaluable chopped up and used in a whole host of pasta and rice dishes. Just freeze in usable portions.
  • Vegetables: If you over-buy when they are on offer, you can always prepare them and freeze them. We will look at this way of preserving food a little later.
  • Bread: If you are likely to waste bread, then freeze the loaf ready sliced and take slices out as you need them – you can toast them straight from the freezer. However, if you need to defrost them, you may need to plan ahead to give them time to defrost naturally. Bread defrosted in the microwave can turn out soggy!
Powered by WordPress | Maintained by: Expert How | Thanks to Mega HowTo