Sunday, November 21, 2010

Black Friday, Now A Plague for many Shoppers

As far as I remember, black Friday has always been considered as a day for which all shoppers eagerly wait. But there are few others who are now considering it to be a plague day. So, the question which arises is,
"Do we really need to shop on Black Friday day? Is it really worth it?"
Many would believe it isn't the worth stress because they need to rush to find out the items, waiting in long queues and many standing outside in the cold waiting for the shops and stores to open. People consider this as a buy or die week. I personally do not find any reason for this statement. I myself have never shopped after the thanksgiving. I always wonder how people can be so brave to fight over the limited parkings spots and try to avoid being trampled upon each other in the queue.

Why there is a need of doing such acts? Only to save some bucks. I would rather prefer paying to avoid crowds, parking inconvenience and waiting for hours.

Time is money, isn't it? No wonder, I am blogger here rather participating in the buying frenzy week. I have noticed that in recent years, there has been a decline in sales as well as shoppers. Why? Now days internet offers various saving schemes. You can actually enjoy shopping online sitting at home any day of the year, though others consider this as a thrill of the hunt. There are many people who do not own any computer or internet facilities but enjoy going to stores seeking bargains.

Which is more preferable? Shopping online or Black Friday Shopping?.

I just asked a random person outside the store that what would she prefer; shopping online or shopping at the various department stores and she commented,

"I simply love going to the stores. I can actually see the product live there before spending any bucks. I love to see various collection of clothes, accessories, household goods etc."

Maybe many women would agree to this but Black Friday is not at all a day to browse and touch the products before you buy and visit various department store to determine what's new!!

In fact, any one who is shopping all the year round has a pretty good idea of what each department store has in stock. There is nothing special to display on Black Friday except massive crowd and an excessive rush to obtain an item that might be on sale after two hours.

A personal Tip from experienced shoppers on Black Friday

"Please do not carry any cash with you. Instead use your debit card. If in case you do not have a debit card also, then go to store you plan to visit on Black Friday a week before and purchase gift cards from there. This will also help you to stick within your budget and is much safer than carrying cash at the stores."

Check ahead of time if you need to buy any specific item that might be on sale at the store but not online. Set a budget and try to stick on it. Once you have decided which sale you want to go for and what you want to actually purchase, decide things which are within your budget. The sale during Black Friday may be great, but obviously you don't want to be paying for that new item until next year or maybe more than that.

As for me, I always finish my Christmas shopping by the end of October.

Do you shop on Black Friday? Do let me know with your comments on this post.

Thursday, November 11, 2010

Money Saving Advice for the Working Man

Saving money is not as easy as it sounds. If a person wants to save money, the single most important money saving advice one can give a working man is to save for retirement. Statistics show that more than 70% of employees today have not saved enough to cover their retirement.

Only 15% will even have enough to qualify for retirement benefits as mandated by the Law. Saving money for a rainy day is an adage said and heard hundreds of times but never seems to be a possibility for many. Even with an extra job, many folks still don’t make enough money to save.

In the end, many workers end up working past retirement age in order to survive or end up in the streets. The single most important goal for every working man therefore, should be to save for retirement. This must be started at the earliest possible time.

To save money, it is important to work at making extra money. However, working at making more money is not the key. The key to making extra money is to work at cutting down on spending. Only by reducing expenses can one make that extra money to save away.

Working at reducing expenses could mean sacrificing some weekend splurges, hand-washing the clothes and doing the dish-washing in the sink. It could also mean using half the amount of toothpaste used every time, lowering the temperature in the water heater and furnace, and taking long walks in the park instead of long weekend drives.

Compute how much is spent on a weekend night out and compute how much money could be saved in the bank if you deposited some of that instead. Let us say that instead of spending $50 on a Friday night and another $50 on a Saturday night, one went out only once a week and deposited $50 in the bank instead.

That would easily amount to $200 a month. By depositing $200 a month for the next 40 years until retirement, a person will have saved a total of over $185,000 at a 3% interest rate compounded annually. That’s an extra $1000 a month for the next 18 years or so.

And that is based solely on saving on weekend binges. If one lived a sensibly frugal life and put away $400 a month, simply doubling the earlier figure will compute to $370,000. Not bad for a nest egg. The idea is not to save money for the short term – to buy a car or house, but to save enough for retirement.

There are several reasons for this. One is that saving money for the short term means wanting to save a lot at the shortest possible time and then dipping into the savings every now and then. Another is that there are also many ways to buy a car or house, but only one way to save for retirement. For instance, the company could give an employee a car plan or a housing plan.

A retirement plan on the other hand, means saving for it. A short term goal also negates the advantage that one gets out of bank interest rates. Therefore a short term goal is not one must strive for in saving money. Work at saving money for retirement – that is the most sensible money saving advice a working man will ever get.

You can use all these strategies to save money, reduce debt and improve your life but it will not last unless you have a system automatically set up to continually work without your input. Get Dan Cavalli’s FREE money saving secrets set on auto pilot at:

Save Your Money with the Luxurious Living

Saving money can be a tough challenge. Saving is anything but instant as we are living in a society where we are used to immediate indulgence. With the current economic collapse, many people are learning the hard way on why saving is imperative.

Now they just have to figure out how to save money. The first thing that has to be done is to get out of the immediate indulgence mindset. Remind yourself how beneficial saving money can be. Write down its benefits to give you tangible proof that saving is necessary.

You will keep on saving when you see something you think you just have to have. Next is learning the basics. Why not learn from the experts? Your parents can teach you how they budget the expenses at home. Ask them how much heat, water and electricity cost each month.

Such details might be boring for you but you have to learn about them. By the time you leave home, you will have to start paying for these things yourself. You must also identify the challenges. Learn to control your spending.

This may be easier in theory than in practice, especially if you are only receiving an allowance or you live at home. Because your parents are likely handling most of the expenses, you would tend to spend your money easily since a large amount would always be available.

And admittedly, spending money can be fun. Your peers can contribute greatly to the challenge, though. This is because they might pressure you into spending more than what you can afford. Shopping has become a main form of entertainment for most teens.

They seem to have an unwritten rule that you can’t have fun if you don’t spend money. You must also learn the difference between need and want. It's easy to see something in a store that you think is important. Try to walk away from anything you believe you need or want the instant you see it.

If you find yourself thinking about buying it later – after a week or so - and you have sufficient amount of money to purchase it, then you can buy it. Chances are, you really need the item. If you stop thinking about it quickly, then you really didn't need it in the first place.

Always be in control. Plan ahead. Do not spend your whole paycheck or max out your credit card in one night. You should also set a limit to your spending. It may be wise to put money in the bank and take out only the amount you need.

It may also be more sensible to go shopping with friends who are careful with their money. Learn to manage your expenses. Keep a record of your purchases. For at least a month, keep track of the money you receive and the date you received it. Make a note of each item you buy and the amount it cost.

At the end of the month, calculate the difference between the amount received and the amount spent. Make a budget. List all income you expect to receive in a month and write down how you plan to spend your money. Also, record all unexpected expenses.

Avoid having debts. Ask yourself honestly if you can afford to buy an item. Look around and do comparison shopping. Many people seek the best price when purchasing goods but settle for whatever interest rates are offered by the merchant.

Compare annual percentage rates of banks or credit card companies to see if you can get a lower rate. If you become burdened by debt, seek help. With practice, these tips on how to save money can change your finances.

You can use all these strategies to save money, reduce debt and improve your life but it will not last unless you have a system automatically set up to continually work without your input. Get Dan Cavalli’s FREE money saving secrets set on auto pilot at: .